Jazim personal page - To The Moon

Jazim

Jazim

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03-31

Singapore: Marina Bay Sands Australia: Sydney Opera China: Temple of Heaven New Zealand: Sky Tower Hong Kong: Victoria Peak America: Apple Park

2022-07-27

good//@koolgal:$Microsoft(MSFT)$ is my pick as the most resilient of the Tech Stocks. It has a really diversified source of revenue from operating systems, games consoles, cloud computing, PCs, digital advertising and other products. In its latest earnings report today, Microsoft posted sales of USD51.9 billion, up 12% from the previous quarter. Even though Microsoft suffered its slowest earnings growth in 2 years, it gave an upbeat outlook, causing its share price to rally about 5% up after hours.Net income for the 3 months through June was USD 16.7 billion. There is also the USD75 billion acquisition of Activision Blizzard which is currently waiting for a

@小虎活动:【財報季大競猜】亞馬遜、谷歌、Meta、蘋果，微軟你最看好誰？

2022-07-23

Ok

Amazon's One Medical Acquisition Sparks Data Privacy Backlash: "What Could Go Wrong?"

2022-02-20

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Ford Shares Rose More Than 4% in Morning Trading

2022-04-08

$Daiwa Hse Log Tr(DHLU.SI)$going up

2022-11-05

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US STOCKS-Wall St Rallies to Close Out Soft Week After Jobs Report

2022-07-26

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S&P 500 Ends Choppy Session Nearly Flat; Investors Eye Fed, Earnings

2022-05-28

$SUNTEC REAL ESTATE INV TRUST(T82U.SI)$can buy?

2022-05-20

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Palantir: Visibility Into The Upside

2022-03-19

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Wall St Closes Higher after Biden-XI Talks End, Oil Steadies

2022-08-17

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US STOCKS-Dow, S&P 500 Climb As Upbeat Results From Walmart, Others Boost Optimism

2022-07-12

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US STOCKS-Wall Street Ends Lower Ahead of Economic Data, Earnings

2022-07-06

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Is the U.S. in a Recession? GDP is Not the Only Measure

2022-03-30

$NikkoAM-STC CN EV S$(EVS.SI)$EV stocks ETF

2021-09-10

Super

Toplines Before US Market Open on Friday

2022-07-13

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Singapore Stocks To Watch: Keppel, Keppel Infra Trust, ISDN

2022-07-06

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Why Faraday Future Stock Rocketed 50% Today

2022-06-30

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NIO: Questions And Challenges To The Grizzly Short-Seller Report

2022-04-14

$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$[smile]

2022-04-10

Okay

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undervalued.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/305275669299376","isVote":1,"tweetType":1,"viewCount":380,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":290292655001784,"gmtCreate":1711878858751,"gmtModify":1711878863101,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Singapore: Marina Bay Sands Australia: Sydney Opera China: Temple of Heaven New Zealand: Sky Tower Hong Kong: Victoria Peak America: Apple Park","listText":"Singapore: Marina Bay Sands Australia: Sydney Opera China: Temple of Heaven New Zealand: Sky Tower Hong Kong: Victoria Peak America: Apple Park","text":"Singapore: 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📮📮📮🍊🍊🍊","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/272332438675736","isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":264788964233472,"gmtCreate":1705669786214,"gmtModify":1705669789346,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GPRO\">$GoPro(GPRO)$ </a>&nbsp;","listText":"<a href=\"https://ttm.financial/S/GPRO\">$GoPro(GPRO)$ </a>&nbsp;","text":"$GoPro(GPRO)$","images":[{"img":"https://community-static.tradeup.com/news/76f2a143803c1a908bf4ae112fed60be","width":"898","height":"1475"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/264788964233472","isVote":1,"tweetType":1,"viewCount":655,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":247090680406112,"gmtCreate":1701362794455,"gmtModify":1701362798538,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Rest in peace 🙏 Munger","listText":"Rest in peace 🙏 Munger","text":"Rest in peace 🙏 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😌😌😌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/236828299239424","isVote":1,"tweetType":1,"viewCount":385,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":236472536568008,"gmtCreate":1698768249327,"gmtModify":1698768253914,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Fun to play..1🎃🎃","listText":"Fun to play..1🎃🎃","text":"Fun to 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Park","text":"Singapore: Marina Bay Sands Australia: Sydney Opera China: Temple of Heaven New Zealand: Sky Tower Hong Kong: Victoria Peak America: Apple Park","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/290292655001784","isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9909546803,"gmtCreate":1658893694802,"gmtModify":1676536225686,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"good//<a href=\"https://laohu8.com/U/3559581955535845\">@koolgal</a>:<a href=\"https://ttm.financial/S/MSFT\">$Microsoft(MSFT)$</a>&nbsp;is my pick as the most resilient of the Tech 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It has a really diversified source of revenue from operating systems, games consoles, cloud computing, PCs, digital advertising and other products. In its latest earnings report today, Microsoft posted sales of USD51.9 billion, up 12% from the previous quarter. Even though Microsoft suffered its slowest earnings growth in 2 years, it gave an upbeat outlook, causing its share price to rally about 5% up after hours.Net income for the 3 months through June was USD 16.7 billion. 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href=\"https://laohu8.com/S/NFLX\">$奈飛(NFLX)$</a> 報告稱流失了近100萬訂戶，該公司股價次日上升了7.3%。<a target=\"_blank\" href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$</a> 季度利潤連創紀錄的勢頭戛然而止，然而股價次日漲了9.8%。這三隻股票今年以來都跑輸大盤。對於本週發佈財報的5只科技股<a target=\"_blank\" href=\"https://laohu8.com/S/MSFT\">$微軟(MSFT)$</a>、 <a target=\"_blank\" href=\"https://laohu8.com/S/AAPL\">$蘋果(AAPL)$</a>、 <a target=\"_blank\" href=\"https://laohu8.com/S/GOOG\">$谷歌(GOOG)$</a>、 <a target=\"_blank\" href=\"https://laohu8.com/S/META\">$Meta Platforms(META)$</a>和","listText":"對於關注科技股的投資者來說，本週的財報以及業績會，一定不要錯過哦！！微軟和谷歌將於本週二盤後後公佈財報；META（原Facebook）將於本週三盤後公佈財報；蘋果和亞馬遜將於本週四盤後公佈財報。這五隻科技股中，你最看好誰？你認爲誰會在財報後取得最大的漲幅呢？歡迎大家在下貼留言參與競猜。科技股Q2業績不容樂觀根據彭博一致預期，2季度幾大巨頭營收預期都有所提升，其中特斯拉，英偉達預計有較大提升，META、蘋果和亞馬遜則預計營收增速放緩，淨利預期下滑幅度較大。儘管預期偏低，但是市場卻淡定已對，上週奈飛和特斯拉先後公佈了財報，<a target=\"_blank\" href=\"https://laohu8.com/S/NFLX\">$奈飛(NFLX)$</a> 報告稱流失了近100萬訂戶，該公司股價次日上升了7.3%。<a target=\"_blank\" href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$</a> 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Platforms(META)$和","images":[{"img":"https://static.tigerbbs.com/29e493524e3ed7a607bfd9cece4421a6","width":"2044","height":"1448"},{"img":"https://static.tigerbbs.com/6b5d70e304f16bd25abe14e2cb7ab0aa","width":"1500","height":"1700"},{"img":"https://static.tigerbbs.com/fdef3bf8b7eca5e78a34fa1b8446e50b","width":"480","height":"360"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/682955319","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":3,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9077511942,"gmtCreate":1658540898286,"gmtModify":1676536173848,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/9077511942","repostId":"2253061199","repostType":4,"repost":{"id":"2253061199","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1658538377,"share":"https://ttm.financial/m/news/2253061199?lang=&edition=fundamental","pubTime":"2022-07-23 09:06","market":"us","language":"en","title":"Amazon's One Medical Acquisition Sparks Data Privacy Backlash: \"What Could Go Wrong?\"","url":"https://stock-news.laohu8.com/highlight/detail?id=2253061199","media":"Dow Jones","summary":"Amazon.com Inc.'s $3.9 billion deal to acquire the primary care organization One Medical marks the t","content":"<html><head></head><body><p>Amazon.com Inc.&#39;s $3.9 billion deal to acquire the primary care organization One Medical marks the tech giant&#39;s biggest move into the healthcare space but is sparking concerns about data privacy.</p><p>Amazon.com Inc.&#39;s $3.9 billion deal to acquire the direct primary-care company One Medical marks the tech giant&#39;s biggest move into the healthcare space, but is sparking concerns about data privacy.</p><p>On Thursday Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>announced an agreement to acquire One Medical, which operates under 1Life Healthcare Inc. <a href=\"https://laohu8.com/S/ONEM\">$(ONEM)$</a>, for $18 a share, or $3.9 billion including debt. Amazon wants to reinvent healthcare. In a statement, the company cited the process involved booking medical appointments, &#34;waiting weeks or even months to be seen,&#34; and trips to the pharmacy as areas that could be improved. &#34;We see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days,&#34; said Neil Lindsay, senior vice president of Amazon Health Services. &#34;We love inventing to make what should be easy easier and we want to be one of the companies that helps dramatically improve the healthcare experience over the next several years.&#34;</p><p>But what about data privacy? As Amazon extends its tentacles further into the healthcare sector, many people have taken to Twitter to express their concerns about the One Medical deal.</p><p>&#34;Amazon&#39;s latest bundle offering: Prime TV subscriptions + Smart home devices + groceries .... + Your healthcare provider. What could go wrong?&#34; tweeted Krista Brown, senior policy analyst at the American Economic Liberties Project on Thursday.</p><p>The American Economic Liberties Project, in a statement, urged regulators to block what it described as Amazon&#39;s &#34;dangerous&#34; acquisition of One Medical. &#34;Allowing Amazon to control the health care data for another 700,000+ individuals is terrifying,&#34; Brown said in the statement, also pointing to the deal&#39;s impact on other healthcare companies. &#34;Acquiring One Medical will entrench Amazon&#39;s growing presence in the healthcare industry, undermining competition,&#34; she added.</p><p>See Now: How Amazon&#39;s $3.9 billion wager on primary care could change your Prime membership</p><p>The project&#39;s data privacy fears were echoed by attorney Elizabeth Shubov, an emerging technology advisor at the consulting firm Cantellus Group. &#34;Amazon will now have access to data on what we watch, read, eat, buy, ask Alexa, pharmaceuticals, and now primary care. There are some limits on data usage but not enough,&#34; she tweeted. &#34;Consumers need to be able to control their data.&#34;</p><p>One Medical members also expressed their concerns about the deal.</p><p>&#34;Amazon just bought my healthcare provider. This is terrifying. Paging @SenWarren please stop this!&#34; tweeted Deb Landau. &#34;I don&#39;t want to have to choose between data privacy and quality health care.&#34;</p><p>&#34;Amazon is buying OneMedical. As a @onemedical customer, I am worried about data privacy. Are you?&#34; tweeted Deniz Johnson.</p><p>Amazon says One Medical customers&#39; data will not be shared without the customer&#39;s permission.  &#34;As required by law, Amazon will never share One Medical customers&#39; personal health information outside of One Medical for advertising or marketing purposes of other Amazon products and services without clear permission from the customer,&#34; said an Amazon spokesperson, in a statement emailed to MarketWatch.  &#34;Should the deal close, One Medical customers&#39; HIPAA Protected Health Information will be handled separately from all other Amazon businesses, as required by law,&#34; the spokesperson added.</p><p>Opinion: &#39;People will freak out&#39;: The cloud boom is coming back to Earth, and that could be scary for tech stocks</p><p>Vermont Senator Bernie Sanders slammed the deal in a tweet on Thursday. &#34;The function of a rational health care system is to provide quality care to all in a cost-effective way, not make billionaires like Jeff Bezos even richer,&#34; he wrote. &#34;At a time of growing concentration of ownership, the Justice Department must deny Amazon&#39;s acquisition of One Medical.&#34;</p><p>MarketWatch has also reached out One Medical with a request for comment on the data privacy implications of the deal but has not yet heard back from the company.</p><p>The deal&#39;s potential impact on patient care is also attracting attention. Dr. Shantanu Nundy, a primary-care physician and chief medical officer at Accolade Inc., a virtual primary-care provider, noted on Twitter that one-quarter of Americans don&#39;t have a primary-care physician and many more don&#39;t have a trusting relationship with one.</p><p>&#34;What this deal validates is that there is a real and growing market for new primary-care models that work precisely because they are different in the way patients experience care,&#34; he wrote. &#34;The trick is for that better experience to also deliver better outcomes.&#34;</p><p>Nundy said that the Amazon-One Medical model won&#39;t work for all potential patients but adds that no single primary-care model works for everyone. &#34;Is Amazon-One Med &#39;the answer&#39; for a large subset of patients?--I don&#39;t know yet,&#34; he added. &#34;But do we need more ways to deliver high quality primary care to more kinds of patients?-YES.&#34;</p><p>The deal is not Amazon&#39;s first move into healthcare but marks its largest deal in an increasingly busy space. In 2018, Amazon embarked on its acquisition of medication delivery service Pillpack for a reported $1 billion in cash, beating out Walmart Inc. <a href=\"https://laohu8.com/S/WMT\">$(WMT)$</a> in the process. Amazon Pharmacy was launched two years later. The Amazon Care telehealth service made its debut in 2019 for employees and was rolled out nationwide earlier this year. Amazon also announced that in-person Amazon Care services will be available in more than 20 new cities in 2022.</p><p>The days when Amazon sold books online are in the distant past and the tech behemoth has gone on to revolutionize entire sectors, from retail to home entertainment. Amazon sees big opportunities in healthcare and undoubtedly possesses the scale and ambition to reshape that space, too. The prospect of lower drug prices, for example, was cited as a positive by consumers in the wake of the Pillpack acquisition.</p><p>Amazon shares, which have fallen 26.7% this year, fell 2.1% to $122.13 on Friday. Shares of 1Life Healthcare, which have declined 2.7% this year, were down 0.9% at $17.10 on Friday.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon's One Medical Acquisition Sparks Data Privacy Backlash: \"What Could Go Wrong?\"</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\">\nAmazon's One Medical Acquisition Sparks Data Privacy Backlash: \"What Could Go Wrong?\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-07-23 09:06</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Amazon.com Inc.&#39;s $3.9 billion deal to acquire the primary care organization One Medical marks the tech giant&#39;s biggest move into the healthcare space but is sparking concerns about data privacy.</p><p>Amazon.com Inc.&#39;s $3.9 billion deal to acquire the direct primary-care company One Medical marks the tech giant&#39;s biggest move into the healthcare space, but is sparking concerns about data privacy.</p><p>On Thursday Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>announced an agreement to acquire One Medical, which operates under 1Life Healthcare Inc. <a href=\"https://laohu8.com/S/ONEM\">$(ONEM)$</a>, for $18 a share, or $3.9 billion including debt. Amazon wants to reinvent healthcare. In a statement, the company cited the process involved booking medical appointments, &#34;waiting weeks or even months to be seen,&#34; and trips to the pharmacy as areas that could be improved. &#34;We see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days,&#34; said Neil Lindsay, senior vice president of Amazon Health Services. &#34;We love inventing to make what should be easy easier and we want to be one of the companies that helps dramatically improve the healthcare experience over the next several years.&#34;</p><p>But what about data privacy? As Amazon extends its tentacles further into the healthcare sector, many people have taken to Twitter to express their concerns about the One Medical deal.</p><p>&#34;Amazon&#39;s latest bundle offering: Prime TV subscriptions + Smart home devices + groceries .... + Your healthcare provider. What could go wrong?&#34; tweeted Krista Brown, senior policy analyst at the American Economic Liberties Project on Thursday.</p><p>The American Economic Liberties Project, in a statement, urged regulators to block what it described as Amazon&#39;s &#34;dangerous&#34; acquisition of One Medical. &#34;Allowing Amazon to control the health care data for another 700,000+ individuals is terrifying,&#34; Brown said in the statement, also pointing to the deal&#39;s impact on other healthcare companies. &#34;Acquiring One Medical will entrench Amazon&#39;s growing presence in the healthcare industry, undermining competition,&#34; she added.</p><p>See Now: How Amazon&#39;s $3.9 billion wager on primary care could change your Prime membership</p><p>The project&#39;s data privacy fears were echoed by attorney Elizabeth Shubov, an emerging technology advisor at the consulting firm Cantellus Group. &#34;Amazon will now have access to data on what we watch, read, eat, buy, ask Alexa, pharmaceuticals, and now primary care. There are some limits on data usage but not enough,&#34; she tweeted. &#34;Consumers need to be able to control their data.&#34;</p><p>One Medical members also expressed their concerns about the deal.</p><p>&#34;Amazon just bought my healthcare provider. This is terrifying. Paging @SenWarren please stop this!&#34; tweeted Deb Landau. &#34;I don&#39;t want to have to choose between data privacy and quality health care.&#34;</p><p>&#34;Amazon is buying OneMedical. As a @onemedical customer, I am worried about data privacy. Are you?&#34; tweeted Deniz Johnson.</p><p>Amazon says One Medical customers&#39; data will not be shared without the customer&#39;s permission.  &#34;As required by law, Amazon will never share One Medical customers&#39; personal health information outside of One Medical for advertising or marketing purposes of other Amazon products and services without clear permission from the customer,&#34; said an Amazon spokesperson, in a statement emailed to MarketWatch.  &#34;Should the deal close, One Medical customers&#39; HIPAA Protected Health Information will be handled separately from all other Amazon businesses, as required by law,&#34; the spokesperson added.</p><p>Opinion: &#39;People will freak out&#39;: The cloud boom is coming back to Earth, and that could be scary for tech stocks</p><p>Vermont Senator Bernie Sanders slammed the deal in a tweet on Thursday. &#34;The function of a rational health care system is to provide quality care to all in a cost-effective way, not make billionaires like Jeff Bezos even richer,&#34; he wrote. &#34;At a time of growing concentration of ownership, the Justice Department must deny Amazon&#39;s acquisition of One Medical.&#34;</p><p>MarketWatch has also reached out One Medical with a request for comment on the data privacy implications of the deal but has not yet heard back from the company.</p><p>The deal&#39;s potential impact on patient care is also attracting attention. Dr. Shantanu Nundy, a primary-care physician and chief medical officer at Accolade Inc., a virtual primary-care provider, noted on Twitter that one-quarter of Americans don&#39;t have a primary-care physician and many more don&#39;t have a trusting relationship with one.</p><p>&#34;What this deal validates is that there is a real and growing market for new primary-care models that work precisely because they are different in the way patients experience care,&#34; he wrote. &#34;The trick is for that better experience to also deliver better outcomes.&#34;</p><p>Nundy said that the Amazon-One Medical model won&#39;t work for all potential patients but adds that no single primary-care model works for everyone. &#34;Is Amazon-One Med &#39;the answer&#39; for a large subset of patients?--I don&#39;t know yet,&#34; he added. &#34;But do we need more ways to deliver high quality primary care to more kinds of patients?-YES.&#34;</p><p>The deal is not Amazon&#39;s first move into healthcare but marks its largest deal in an increasingly busy space. In 2018, Amazon embarked on its acquisition of medication delivery service Pillpack for a reported $1 billion in cash, beating out Walmart Inc. <a href=\"https://laohu8.com/S/WMT\">$(WMT)$</a> in the process. Amazon Pharmacy was launched two years later. The Amazon Care telehealth service made its debut in 2019 for employees and was rolled out nationwide earlier this year. Amazon also announced that in-person Amazon Care services will be available in more than 20 new cities in 2022.</p><p>The days when Amazon sold books online are in the distant past and the tech behemoth has gone on to revolutionize entire sectors, from retail to home entertainment. Amazon sees big opportunities in healthcare and undoubtedly possesses the scale and ambition to reshape that space, too. The prospect of lower drug prices, for example, was cited as a positive by consumers in the wake of the Pillpack acquisition.</p><p>Amazon shares, which have fallen 26.7% this year, fell 2.1% to $122.13 on Friday. Shares of 1Life Healthcare, which have declined 2.7% this year, were down 0.9% at $17.10 on Friday.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2253061199","content_text":"Amazon.com Inc.'s $3.9 billion deal to acquire the primary care organization One Medical marks the tech giant's biggest move into the healthcare space but is sparking concerns about data privacy.Amazon.com Inc.'s $3.9 billion deal to acquire the direct primary-care company One Medical marks the tech giant's biggest move into the healthcare space, but is sparking concerns about data privacy.On Thursday Amazon $(AMZN)$announced an agreement to acquire One Medical, which operates under 1Life Healthcare Inc. $(ONEM)$, for $18 a share, or $3.9 billion including debt. Amazon wants to reinvent healthcare. In a statement, the company cited the process involved booking medical appointments, \"waiting weeks or even months to be seen,\" and trips to the pharmacy as areas that could be improved. \"We see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days,\" said Neil Lindsay, senior vice president of Amazon Health Services. \"We love inventing to make what should be easy easier and we want to be one of the companies that helps dramatically improve the healthcare experience over the next several years.\"But what about data privacy? As Amazon extends its tentacles further into the healthcare sector, many people have taken to Twitter to express their concerns about the One Medical deal.\"Amazon's latest bundle offering: Prime TV subscriptions + Smart home devices + groceries .... + Your healthcare provider. What could go wrong?\" tweeted Krista Brown, senior policy analyst at the American Economic Liberties Project on Thursday.The American Economic Liberties Project, in a statement, urged regulators to block what it described as Amazon's \"dangerous\" acquisition of One Medical. \"Allowing Amazon to control the health care data for another 700,000+ individuals is terrifying,\" Brown said in the statement, also pointing to the deal's impact on other healthcare companies. \"Acquiring One Medical will entrench Amazon's growing presence in the healthcare industry, undermining competition,\" she added.See Now: How Amazon's $3.9 billion wager on primary care could change your Prime membershipThe project's data privacy fears were echoed by attorney Elizabeth Shubov, an emerging technology advisor at the consulting firm Cantellus Group. \"Amazon will now have access to data on what we watch, read, eat, buy, ask Alexa, pharmaceuticals, and now primary care. There are some limits on data usage but not enough,\" she tweeted. \"Consumers need to be able to control their data.\"One Medical members also expressed their concerns about the deal.\"Amazon just bought my healthcare provider. This is terrifying. Paging @SenWarren please stop this!\" tweeted Deb Landau. \"I don't want to have to choose between data privacy and quality health care.\"\"Amazon is buying OneMedical. As a @onemedical customer, I am worried about data privacy. Are you?\" tweeted Deniz Johnson.Amazon says One Medical customers' data will not be shared without the customer's permission.  \"As required by law, Amazon will never share One Medical customers' personal health information outside of One Medical for advertising or marketing purposes of other Amazon products and services without clear permission from the customer,\" said an Amazon spokesperson, in a statement emailed to MarketWatch.  \"Should the deal close, One Medical customers' HIPAA Protected Health Information will be handled separately from all other Amazon businesses, as required by law,\" the spokesperson added.Opinion: 'People will freak out': The cloud boom is coming back to Earth, and that could be scary for tech stocksVermont Senator Bernie Sanders slammed the deal in a tweet on Thursday. \"The function of a rational health care system is to provide quality care to all in a cost-effective way, not make billionaires like Jeff Bezos even richer,\" he wrote. \"At a time of growing concentration of ownership, the Justice Department must deny Amazon's acquisition of One Medical.\"MarketWatch has also reached out One Medical with a request for comment on the data privacy implications of the deal but has not yet heard back from the company.The deal's potential impact on patient care is also attracting attention. Dr. Shantanu Nundy, a primary-care physician and chief medical officer at Accolade Inc., a virtual primary-care provider, noted on Twitter that one-quarter of Americans don't have a primary-care physician and many more don't have a trusting relationship with one.\"What this deal validates is that there is a real and growing market for new primary-care models that work precisely because they are different in the way patients experience care,\" he wrote. \"The trick is for that better experience to also deliver better outcomes.\"Nundy said that the Amazon-One Medical model won't work for all potential patients but adds that no single primary-care model works for everyone. \"Is Amazon-One Med 'the answer' for a large subset of patients?--I don't know yet,\" he added. \"But do we need more ways to deliver high quality primary care to more kinds of patients?-YES.\"The deal is not Amazon's first move into healthcare but marks its largest deal in an increasingly busy space. In 2018, Amazon embarked on its acquisition of medication delivery service Pillpack for a reported $1 billion in cash, beating out Walmart Inc. $(WMT)$ in the process. Amazon Pharmacy was launched two years later. The Amazon Care telehealth service made its debut in 2019 for employees and was rolled out nationwide earlier this year. Amazon also announced that in-person Amazon Care services will be available in more than 20 new cities in 2022.The days when Amazon sold books online are in the distant past and the tech behemoth has gone on to revolutionize entire sectors, from retail to home entertainment. Amazon sees big opportunities in healthcare and undoubtedly possesses the scale and ambition to reshape that space, too. The prospect of lower drug prices, for example, was cited as a positive by consumers in the wake of the Pillpack acquisition.Amazon shares, which have fallen 26.7% this year, fell 2.1% to $122.13 on Friday. Shares of 1Life Healthcare, which have declined 2.7% this year, were down 0.9% at $17.10 on Friday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097337687,"gmtCreate":1645330870009,"gmtModify":1676534019669,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Okay","listText":"Okay","text":"Okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097337687","repostId":"1179361607","repostType":4,"repost":{"id":"1179361607","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":1645198178,"share":"https://ttm.financial/m/news/1179361607?lang=&edition=fundamental","pubTime":"2022-02-18 23:29","market":"us","language":"en","title":"Ford Shares Rose More Than 4% in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1179361607","media":"Tiger Newspress","summary":"Ford shares rose more than 4% in morning trading.Ford Motor Co. is looking at ways to separate its e","content":"<html><head></head><body><p>Ford shares rose more than 4% in morning trading.<img src=\"https://static.tigerbbs.com/3cf4baa5955e43c3814c6c3e683c568c\" tg-width=\"703\" tg-height=\"587\" width=\"100%\" height=\"auto\"/>Ford Motor Co. is looking at ways to separate its electric-vehicle operation from its century-old legacy business, hoping to earn the sort of investor respect enjoyed by Tesla Inc. and other pure-play EV makers, Bloomberg News reports.</p><p>Chief Executive Officer Jim Farley wants to wall off Ford’s electric operations from its internal combustion engine business and has even considered spinning off one or the other, people familiar with the effort said.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ford Shares Rose More Than 4% in Morning Trading</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\">\nFord Shares Rose More Than 4% 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\">2022-02-18 23:29</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Ford shares rose more than 4% in morning trading.<img src=\"https://static.tigerbbs.com/3cf4baa5955e43c3814c6c3e683c568c\" tg-width=\"703\" tg-height=\"587\" width=\"100%\" height=\"auto\"/>Ford Motor Co. is looking at ways to separate its electric-vehicle operation from its century-old legacy business, hoping to earn the sort of investor respect enjoyed by Tesla Inc. and other pure-play EV makers, Bloomberg News reports.</p><p>Chief Executive Officer Jim Farley wants to wall off Ford’s electric operations from its internal combustion engine business and has even considered spinning off one or the other, people familiar with the effort said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"F":"福特汽车"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179361607","content_text":"Ford shares rose more than 4% in morning trading.Ford Motor Co. is looking at ways to separate its electric-vehicle operation from its century-old legacy business, hoping to earn the sort of investor respect enjoyed by Tesla Inc. and other pure-play EV makers, Bloomberg News reports.Chief Executive Officer Jim Farley wants to wall off Ford’s electric operations from its internal combustion engine business and has even considered spinning off one or the other, people familiar with the effort said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":133,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9015928126,"gmtCreate":1649414532512,"gmtModify":1676534508200,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DHLU.SI\">$Daiwa Hse Log Tr(DHLU.SI)$</a>going up","listText":"<a href=\"https://ttm.financial/S/DHLU.SI\">$Daiwa Hse Log Tr(DHLU.SI)$</a>going up","text":"$Daiwa Hse Log Tr(DHLU.SI)$going up","images":[{"img":"https://community-static.tradeup.com/news/6b50b97d7214cd681115cf8f8b2461b5","width":"1080","height":"3450"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9015928126","isVote":1,"tweetType":1,"viewCount":222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9984855846,"gmtCreate":1667608783485,"gmtModify":1676537943195,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9984855846","repostId":"2281680644","repostType":4,"repost":{"id":"2281680644","pubTimestamp":1667603225,"share":"https://ttm.financial/m/news/2281680644?lang=&edition=fundamental","pubTime":"2022-11-05 07:07","market":"us","language":"en","title":"US STOCKS-Wall St Rallies to Close Out Soft Week After Jobs Report","url":"https://stock-news.laohu8.com/highlight/detail?id=2281680644","media":"Reuters","summary":"Data shows strong jobs growth, uptick in jobless rateStarbucks, DoorDash jump on upbeat resultsU.S-listed China firms rise on reopening hopesDow up 1.26%, S&P 500 up 1.36%, Nasdaq up 1.28%U.S. stocks ","content":"<html><head></head><body><ul><li>Data shows strong jobs growth, uptick in jobless rate</li><li>Starbucks, DoorDash jump on upbeat results</li><li>U.S-listed China firms rise on reopening hopes</li><li>Dow up 1.26%, S&amp;P 500 up 1.36%, Nasdaq up 1.28%</li></ul><p>U.S. stocks closed higher on Friday in volatile trade to snap a four-session losing streak as investors wrestled with a mixed jobs report and comments from Federal Reserve officials on the pace of interest rate hikes.</p><p>The S&amp;P 500 and the Nasdaq each rose as much as 2% in the early stages of trading while the Dow Jones Industrial Average climbed as much as 1.9% on the heels of the closely watched labor market report, before paring gains and briefly falling into negative territory. The report showed an uptick in the unemployment rate in October, indicating some signs of slack may finally be starting to emerge in the job market and give the Fed room to downsize its rate hikes beginning in December.</p><p>But the data also showed average hourly earnings rose slightly more than expected, as did job growth, pointing to a labor market that largely remains on firm footing.</p><p>Labor market data has been a primary focus for markets as the Fed has repeatedly stated it is looking for some cooling before considering a pause in hikes. Hawkish comments from Fed Chair Jerome Powell on Wednesday increased worries the central bank could keep boosting interest rates for longer than previously expected and put further pressure on stocks.</p><p>&#34;This was not a report that shows the rate hikes are starting to take hold,&#34; said Shawn Cruz, head trading strategist at TD Ameritrade in Chicago.</p><p>&#34;You could maybe justify some of this move as this selling got a little overdone after what Powell said at the meeting, so maybe you already had the sellers flushed out.&#34;</p><p>On Friday, Fed officials echoed Powell&#39;s comments about potentially decreasing the size of rate hikes in the future, but needing to continue to raise rates for a longer period of time and potentially above the 4.6% level the central bank penciled in at its September meeting.</p><p>Equities got a boost late in the session after Chicago Fed President Charles Evans said it was possible for the Fed to be &#34;thinking&#34; about pausing even if it&#39;s a year from now.</p><p>The Dow Jones Industrial Average rose 401.97 points, or 1.26%, to 32,403.22, the S&amp;P 500 gained 50.66 points, or 1.36%, to 3,770.55 and the Nasdaq Composite added 132.31 points, or 1.28%, to 10,475.25.</p><p>For the week, the Dow fell 1.39% to snap a four-week winning streak, the S&amp;P dropped 3.34% and the Nasdaq slid 5.65% for its biggest weekly percentage decline since January.</p><p>The non-farm payrolls report comes after a conflicting set of data this week that pointed to a slowdown in certain parts of the economy but also underscored the resilience of the U.S. labor market despite aggressive rate hikes to tame inflation.</p><p>Traders&#39; expectations of a 75 basis point rate hike in December had briefly jumped after the jobs report but were now pricing in about a 62% chance of a 50 basis point hike, according to CME&#39;s FedWatch Tool.</p><p>Market focus will now turn to a key consumer inflation reading due next week as well as the U.S. midterm elections on Nov. 8, where control of Congress is at stake.</p><p>Meanwhile, hopes of an easing in China&#39;s tough COVID-19 curbs supported some areas of the market, with U.S.-listed shares of Chinese companies including Alibaba, which finished up 7.05% and JD.com, up 9.74%.</p><p>Those hopes also helped boost prices of commodities such as copper, which in turn lifted the materials sector 3.41% as the best performing of the 11 major S&amp;P sectors.</p><p>Starbucks Corp jumped 8.48% after it topped Wall Street estimates for quarterly comparable sales and profit, while DoorDash Inc&#39;s revenue beat boosted the food delivery firm&#39;s shares by 8.32%.</p><p>Volume on U.S. exchanges was 13.31 billion shares, compared with the 11.74 billion average for the full session over the last 20 trading days.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.56-to-1 ratio; on Nasdaq, a 1.41-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 18 new 52-week highs and 27 new lows; the Nasdaq Composite recorded 81 new highs and 278 new lows.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall St Rallies to Close Out Soft Week After Jobs Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall St Rallies to Close Out Soft Week After Jobs Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-05 07:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-stocks-wall-st-rallies-202354523.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Data shows strong jobs growth, uptick in jobless rateStarbucks, DoorDash jump on upbeat resultsU.S-listed China firms rise on reopening hopesDow up 1.26%, S&P 500 up 1.36%, Nasdaq up 1.28%U.S. stocks ...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-wall-st-rallies-202354523.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/us-stocks-wall-st-rallies-202354523.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2281680644","content_text":"Data shows strong jobs growth, uptick in jobless rateStarbucks, DoorDash jump on upbeat resultsU.S-listed China firms rise on reopening hopesDow up 1.26%, S&P 500 up 1.36%, Nasdaq up 1.28%U.S. stocks closed higher on Friday in volatile trade to snap a four-session losing streak as investors wrestled with a mixed jobs report and comments from Federal Reserve officials on the pace of interest rate hikes.The S&P 500 and the Nasdaq each rose as much as 2% in the early stages of trading while the Dow Jones Industrial Average climbed as much as 1.9% on the heels of the closely watched labor market report, before paring gains and briefly falling into negative territory. The report showed an uptick in the unemployment rate in October, indicating some signs of slack may finally be starting to emerge in the job market and give the Fed room to downsize its rate hikes beginning in December.But the data also showed average hourly earnings rose slightly more than expected, as did job growth, pointing to a labor market that largely remains on firm footing.Labor market data has been a primary focus for markets as the Fed has repeatedly stated it is looking for some cooling before considering a pause in hikes. Hawkish comments from Fed Chair Jerome Powell on Wednesday increased worries the central bank could keep boosting interest rates for longer than previously expected and put further pressure on stocks.\"This was not a report that shows the rate hikes are starting to take hold,\" said Shawn Cruz, head trading strategist at TD Ameritrade in Chicago.\"You could maybe justify some of this move as this selling got a little overdone after what Powell said at the meeting, so maybe you already had the sellers flushed out.\"On Friday, Fed officials echoed Powell's comments about potentially decreasing the size of rate hikes in the future, but needing to continue to raise rates for a longer period of time and potentially above the 4.6% level the central bank penciled in at its September meeting.Equities got a boost late in the session after Chicago Fed President Charles Evans said it was possible for the Fed to be \"thinking\" about pausing even if it's a year from now.The Dow Jones Industrial Average rose 401.97 points, or 1.26%, to 32,403.22, the S&P 500 gained 50.66 points, or 1.36%, to 3,770.55 and the Nasdaq Composite added 132.31 points, or 1.28%, to 10,475.25.For the week, the Dow fell 1.39% to snap a four-week winning streak, the S&P dropped 3.34% and the Nasdaq slid 5.65% for its biggest weekly percentage decline since January.The non-farm payrolls report comes after a conflicting set of data this week that pointed to a slowdown in certain parts of the economy but also underscored the resilience of the U.S. labor market despite aggressive rate hikes to tame inflation.Traders' expectations of a 75 basis point rate hike in December had briefly jumped after the jobs report but were now pricing in about a 62% chance of a 50 basis point hike, according to CME's FedWatch Tool.Market focus will now turn to a key consumer inflation reading due next week as well as the U.S. midterm elections on Nov. 8, where control of Congress is at stake.Meanwhile, hopes of an easing in China's tough COVID-19 curbs supported some areas of the market, with U.S.-listed shares of Chinese companies including Alibaba, which finished up 7.05% and JD.com, up 9.74%.Those hopes also helped boost prices of commodities such as copper, which in turn lifted the materials sector 3.41% as the best performing of the 11 major S&P sectors.Starbucks Corp jumped 8.48% after it topped Wall Street estimates for quarterly comparable sales and profit, while DoorDash Inc's revenue beat boosted the food delivery firm's shares by 8.32%.Volume on U.S. exchanges was 13.31 billion shares, compared with the 11.74 billion average for the full session over the last 20 trading days.Advancing issues outnumbered declining ones on the NYSE by a 2.56-to-1 ratio; on Nasdaq, a 1.41-to-1 ratio favored advancers.The S&P 500 posted 18 new 52-week highs and 27 new lows; the Nasdaq Composite recorded 81 new highs and 278 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":307,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9909042165,"gmtCreate":1658794542857,"gmtModify":1676536207866,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9909042165","repostId":"1108375477","repostType":4,"repost":{"id":"1108375477","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1658789741,"share":"https://ttm.financial/m/news/1108375477?lang=&edition=fundamental","pubTime":"2022-07-26 06:55","market":"us","language":"en","title":"S&P 500 Ends Choppy Session Nearly Flat; Investors Eye Fed, Earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=1108375477","media":"Reuters","summary":"Apple, Amazon.com among companies to report earnings this weekFOMC to kick off two-day policy meetin","content":"<html><head></head><body><ul><li>Apple, Amazon.com among companies to report earnings this week</li><li>FOMC to kick off two-day policy meeting from Tuesday</li><li>Miner Newmont falls after raising annual cost forecast</li><li>Indexes: Dow up 0.3%, S&amp;P 500 up 0.1%, Nasdaq down 0.4%</li></ul><p>NEW YORK, July 25 (Reuters) - The S&amp;P 500 see-sawed on Monday and ended close to unchanged as investors girded for an expected rate hike at a Federal Reserve meeting this week and earnings from several large-cap growth companies.</p><p>The Nasdaq ended lower, and S&amp;P 500 technology and consumer discretionary led declines among major S&amp;P sectors. The energy sector gained along with oil prices.</p><p>&#34;Right now we&#39;re just in a holding pattern waiting for all those developments to play out,&#34; said Michael O&#39;Rourke, chief market strategist at JonesTrading in Stamford, Connecticut.</p><p>The Fed is expected to announce a 75 basis-point rate hike at the end of its two-day monetary policy meeting on Wednesday, effectively ending pandemic-era support for the U.S. economy.</p><p>Comments by Fed Chairman Jerome Powell following the announcement will be key, as some investors worry that aggressive rate hikes could tip the U.S. economy into recession.</p><p>This week is expected to be the busiest in the second-quarter reporting period, with results from about 170 S&amp;P 500 companies due. Microsoft Corp and Google-parent Alphabet are due to report Tuesday. Apple Inc and Amazon.com Inc are set for Thursday.</p><p>&#34;It&#39;s a crucial earnings season for the market, especially given the (recent) attempt by Nasdaq to climb higher,&#34; said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina.</p><p>The Nasdaq, which has led declines among major sectors this year, gained more than 3% last week.</p><p>The Dow Jones Industrial Average rose 90.75 points, or 0.28%, to 31,990.04, the S&amp;P 500 gained 5.21 points, or 0.13%, to 3,966.84 and the Nasdaq Composite dropped 51.45 points, or 0.43%, to 11,782.67.</p><p>After the closing bell, shares of Walmart were down nearly 10% after the retailer said it was cutting its forecast for full-year profit and blamed food and fuel inflation.</p><p>S&amp;P 500 earnings are expected to have climbed 6.1% for the second quarter from the year-ago period, according to IBES data from Refinitiv. Along with inflation and rising interest rates, investors have been concerned about the impact of currency headwinds and lingering supply chain issues for companies this earnings season.</p><p>Tuesday brings reports on two housing indicators - the S&amp;P Case-Shiller&#39;s 20-city composite and the Commerce Department&#39;s new home sales number.</p><p>Recent housing data has suggested the sector may be a harbinger of a cooling economy.</p><p>Newmont Corp fell 13.2% after the miner raised its annual cost forecast and missed its second-quarter profit, hurt by lower gold prices and inflationary pressures.</p><p>Volume on U.S. exchanges was 9.34 billion shares, compared with the 11.0 billion average for the full session over the last 20 trading days.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.55-to-1 ratio; on Nasdaq, a 1.05-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 1 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 50 new highs and 105 new lows.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 Ends Choppy Session Nearly Flat; Investors Eye Fed, Earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 Ends Choppy Session Nearly Flat; Investors Eye Fed, Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-07-26 06:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>Apple, Amazon.com among companies to report earnings this week</li><li>FOMC to kick off two-day policy meeting from Tuesday</li><li>Miner Newmont falls after raising annual cost forecast</li><li>Indexes: Dow up 0.3%, S&amp;P 500 up 0.1%, Nasdaq down 0.4%</li></ul><p>NEW YORK, July 25 (Reuters) - The S&amp;P 500 see-sawed on Monday and ended close to unchanged as investors girded for an expected rate hike at a Federal Reserve meeting this week and earnings from several large-cap growth companies.</p><p>The Nasdaq ended lower, and S&amp;P 500 technology and consumer discretionary led declines among major S&amp;P sectors. The energy sector gained along with oil prices.</p><p>&#34;Right now we&#39;re just in a holding pattern waiting for all those developments to play out,&#34; said Michael O&#39;Rourke, chief market strategist at JonesTrading in Stamford, Connecticut.</p><p>The Fed is expected to announce a 75 basis-point rate hike at the end of its two-day monetary policy meeting on Wednesday, effectively ending pandemic-era support for the U.S. economy.</p><p>Comments by Fed Chairman Jerome Powell following the announcement will be key, as some investors worry that aggressive rate hikes could tip the U.S. economy into recession.</p><p>This week is expected to be the busiest in the second-quarter reporting period, with results from about 170 S&amp;P 500 companies due. Microsoft Corp and Google-parent Alphabet are due to report Tuesday. Apple Inc and Amazon.com Inc are set for Thursday.</p><p>&#34;It&#39;s a crucial earnings season for the market, especially given the (recent) attempt by Nasdaq to climb higher,&#34; said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina.</p><p>The Nasdaq, which has led declines among major sectors this year, gained more than 3% last week.</p><p>The Dow Jones Industrial Average rose 90.75 points, or 0.28%, to 31,990.04, the S&amp;P 500 gained 5.21 points, or 0.13%, to 3,966.84 and the Nasdaq Composite dropped 51.45 points, or 0.43%, to 11,782.67.</p><p>After the closing bell, shares of Walmart were down nearly 10% after the retailer said it was cutting its forecast for full-year profit and blamed food and fuel inflation.</p><p>S&amp;P 500 earnings are expected to have climbed 6.1% for the second quarter from the year-ago period, according to IBES data from Refinitiv. Along with inflation and rising interest rates, investors have been concerned about the impact of currency headwinds and lingering supply chain issues for companies this earnings season.</p><p>Tuesday brings reports on two housing indicators - the S&amp;P Case-Shiller&#39;s 20-city composite and the Commerce Department&#39;s new home sales number.</p><p>Recent housing data has suggested the sector may be a harbinger of a cooling economy.</p><p>Newmont Corp fell 13.2% after the miner raised its annual cost forecast and missed its second-quarter profit, hurt by lower gold prices and inflationary pressures.</p><p>Volume on U.S. exchanges was 9.34 billion shares, compared with the 11.0 billion average for the full session over the last 20 trading days.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.55-to-1 ratio; on Nasdaq, a 1.05-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 1 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 50 new highs and 105 new lows.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NEM":"纽曼矿业",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","WMT":"沃尔玛"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108375477","content_text":"Apple, Amazon.com among companies to report earnings this weekFOMC to kick off two-day policy meeting from TuesdayMiner Newmont falls after raising annual cost forecastIndexes: Dow up 0.3%, S&P 500 up 0.1%, Nasdaq down 0.4%NEW YORK, July 25 (Reuters) - The S&P 500 see-sawed on Monday and ended close to unchanged as investors girded for an expected rate hike at a Federal Reserve meeting this week and earnings from several large-cap growth companies.The Nasdaq ended lower, and S&P 500 technology and consumer discretionary led declines among major S&P sectors. The energy sector gained along with oil prices.\"Right now we're just in a holding pattern waiting for all those developments to play out,\" said Michael O'Rourke, chief market strategist at JonesTrading in Stamford, Connecticut.The Fed is expected to announce a 75 basis-point rate hike at the end of its two-day monetary policy meeting on Wednesday, effectively ending pandemic-era support for the U.S. economy.Comments by Fed Chairman Jerome Powell following the announcement will be key, as some investors worry that aggressive rate hikes could tip the U.S. economy into recession.This week is expected to be the busiest in the second-quarter reporting period, with results from about 170 S&P 500 companies due. Microsoft Corp and Google-parent Alphabet are due to report Tuesday. Apple Inc and Amazon.com Inc are set for Thursday.\"It's a crucial earnings season for the market, especially given the (recent) attempt by Nasdaq to climb higher,\" said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina.The Nasdaq, which has led declines among major sectors this year, gained more than 3% last week.The Dow Jones Industrial Average rose 90.75 points, or 0.28%, to 31,990.04, the S&P 500 gained 5.21 points, or 0.13%, to 3,966.84 and the Nasdaq Composite dropped 51.45 points, or 0.43%, to 11,782.67.After the closing bell, shares of Walmart were down nearly 10% after the retailer said it was cutting its forecast for full-year profit and blamed food and fuel inflation.S&P 500 earnings are expected to have climbed 6.1% for the second quarter from the year-ago period, according to IBES data from Refinitiv. Along with inflation and rising interest rates, investors have been concerned about the impact of currency headwinds and lingering supply chain issues for companies this earnings season.Tuesday brings reports on two housing indicators - the S&P Case-Shiller's 20-city composite and the Commerce Department's new home sales number.Recent housing data has suggested the sector may be a harbinger of a cooling economy.Newmont Corp fell 13.2% after the miner raised its annual cost forecast and missed its second-quarter profit, hurt by lower gold prices and inflationary pressures.Volume on U.S. exchanges was 9.34 billion shares, compared with the 11.0 billion average for the full session over the last 20 trading days.Advancing issues outnumbered declining ones on the NYSE by a 1.55-to-1 ratio; on Nasdaq, a 1.05-to-1 ratio favored decliners.The S&P 500 posted 1 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 50 new highs and 105 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9025536470,"gmtCreate":1653702988190,"gmtModify":1676535329836,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/T82U.SI\">$SUNTEC REAL ESTATE INV TRUST(T82U.SI)$</a>can buy?","listText":"<a href=\"https://ttm.financial/S/T82U.SI\">$SUNTEC REAL ESTATE INV TRUST(T82U.SI)$</a>can buy?","text":"$SUNTEC REAL ESTATE INV TRUST(T82U.SI)$can buy?","images":[{"img":"https://community-static.tradeup.com/news/24c0746c283e1fbe4d26ee8ea89d794c","width":"1080","height":"3222"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9025536470","isVote":1,"tweetType":1,"viewCount":154,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4101278953287870","authorId":"4101278953287870","name":"Lee_Chanz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"idStr":"4101278953287870","authorIdStr":"4101278953287870"},"content":"me personally hoping for 1.65","text":"me personally hoping for 1.65","html":"me personally hoping for 1.65"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9021806359,"gmtCreate":1653020425471,"gmtModify":1676535210055,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021806359","repostId":"2236338440","repostType":4,"repost":{"id":"2236338440","pubTimestamp":1653014957,"share":"https://ttm.financial/m/news/2236338440?lang=&edition=fundamental","pubTime":"2022-05-20 10:49","market":"us","language":"en","title":"Palantir: Visibility Into The Upside","url":"https://stock-news.laohu8.com/highlight/detail?id=2236338440","media":"seekingalpha","summary":"SummaryPalantir shares have been rocked as the market prices in an underlying growth rate closer to ","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Palantir shares have been rocked as the market prices in an underlying growth rate closer to 20% rather than the company’s 30% guidance.</li><li>Management stated that its Foundry platform could be to the coming decade what Amazon’s AWS was to the last, offering a glimpse into the vast upside potential.</li><li>Palantir has suspended its SPAC investment strategy, eliminating a major customer acquisition red flag after unrealized losses surpassed $200 million.</li><li>With growth slowing, the open question is whether Palantir can broadly penetrate the enterprise software market and the non-US and UK government market.</li><li>Palantir offers one of the largest long-term growth opportunities in the marketplace. With the shares down 87% and expectations adjusting lower, there is increasing visibility into the upside potential.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b22457c73fde6bb9452530e03e739c60\" tg-width=\"750\" tg-height=\"580\" width=\"100%\" height=\"auto\"/><span>agawa288/iStock via Getty Images</span></p><p>I am assigning Palantir (NYSE:PLTR) a positive risk/reward rating based on the vast nature of its long-term opportunity set, its increasingly attractive valuation, and its deeply oversold technical position. In my prior Palantir report from February 3, 2022, I made the following observation of the likely downside potential for Palantir:</p><blockquote>To estimate downside potential beneath $10, I apply an earnings multiple of 40x the 2022 non-GAAP consensus earnings estimate… would place Palantir shares at $8… If the 39% consensus earnings estimate for 2022 is too high, further downside from $8 is in the realm of possibility… I apply the same 40x non-GAAP earnings to my estimate of Palantir&#39;s current annual run rate… If earnings growth comes in at 25% for 2022 (my estimate of adjusted gross profit growth as of Q3 2021)… the shares could trade down to $6.</blockquote><p>In fact, the shares touched a low of $6.44 on May 12, 2022, punctuating a vicious -32% selloff following the company&#39;s Q1 2022 earnings release. Interestingly, consensus earnings growth estimates are now aligned with my previous 25% earnings growth estimate for 2022. The extraordinary volatility is a reminder that Palantir is for those seeking exceptional growth potential with the associated risk.</p><p>Nonetheless, the shares are testing a reasonable valuation zone, as outlined in my prior report. Additionally, Palantir&#39;s stock is down roughly 87% from its all-time high reached in 2021. As a result, it is fair to say that a significant amount of risk has already materialized and thus has been removed from Palantir&#39;s share price.</p><p><b>Risk/Reward Rating: Positive</b></p><p>While taking notes during Palantir&#39;s Q1 2022 earnings conference call, <a href=\"https://laohu8.com/S/AONE.U\">one</a> line, in particular, stood out and captures the essence of the Palantir investment case. The following is a paraphrase of my notes from the call: &#34;What AWS was to the last decade, Foundry will be to the next.&#34;</p><p>Foundry is one of three primary platforms offered by Palantir. This type of vision speaks to the upside opportunity that many envision for Palantir&#39;s future. Most investors attribute the majority of Amazon&#39;s (AMZN) $1.2 trillion market value to its AWS division. As a result, even a fraction of an AWS-like opportunity represents extraordinary growth potential for Palantir and its shareholders. Palantir&#39;s current valuation is near $18 billion (using the fully diluted share count) and trending lower.</p><p><b>Growth Trajectory</b></p><p>In terms of its growth potential, Palantir continues to guide investors to 30% revenue growth per year through 2025. The 32% selloff in the shares following the reiteration of this guidance speaks to the challenge facing Palantir&#39;s stock in the near term. The market has clearly signaled that it doubts whether management&#39;s 30% growth guidance can be achieved. I spoke to the high likelihood that growth would disappoint in my February report after breaking down Palantir&#39;s growth by customer cohort (emphasis added):</p><blockquote>Similar to the Scale cohort growth rate annualizing at 20% in 2021, the new customer sales growth rate is annualizing at 22% through Q3 2021… As a result<b>, Palantir appears to be trending toward an underlying sales growth rate closer to 20%</b> than the company&#39;s 30% sales growth guidance through mid-decade.</blockquote><p>Now that the risk of disappointment has materialized, the market is increasingly uncertain about the sustainable growth trajectory for Palantir. To tackle this question, I compiled Palantir&#39;s segment sales performance for Q1 2022 and the full year of 2021 to construct a picture of the near-term growth trajectory. The following two tables were compiled from Palantir&#39;s Q1 2022 10-Q and 2021 10-K filed with the SEC. The first table displays Q1 2022 and the second displays 2021. Please note that I have color-coded the related cells for comparison within and between the tables.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6014209021f3fa2f8092daf4a26dba11\" tg-width=\"640\" tg-height=\"464\" width=\"100%\" height=\"auto\"/><span>Created by Brian Kapp, stoxdox</span></p><p>Before adding the 2021 table for comparison, note that Palantir grew its revenue by just over 19% in Q1 2022, excluding revenue from Investees (the lower blue highlighted cell). Please compare the 19% growth in Q1 2022 to the blue highlighted cells in the table below for 2021. The growth deceleration is material excluding Investee revenue.</p><p>I would highly recommend reading my prior report for a detailed discussion of the Investee situation. A summary of the current Investees is included at the end of this article for those interested. In essence, investing in companies in return for software sales to those same companies is not a sustainable customer acquisition strategy.</p><p>As a result, I and many others exclude sales to Investees from view when trying to determine Palantir&#39;s sustainable growth trajectory. Interestingly, Palantir stated on the Q1 2022 conference call that they have discontinued the Investee program thus removing a major red flag going forward.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a7b062d439185403c6bcd0841413601\" tg-width=\"640\" tg-height=\"464\" width=\"100%\" height=\"auto\"/><span>Created by Brian Kapp, stoxdox</span></p><p>Notice that total sales grew nearly 37% excluding Investees in 2021 (the lower blue highlighted cell). It should be noted that the growth rate in Q3 2021 was 29% and in Q4 2021 it was 25% (not shown here). The 19% growth posted in Q1 2022 is a substantial deceleration, however, it is generally in line with what one would expect given the preexisting slowdown in Palantir&#39;s growth trajectory.</p><p>I have highlighted in yellow the total dollar growth of revenue for Q1 2022 and the full year of 2021 (excluding sales to Investees). The $66 million of revenue growth in Q1 2022 annualizes at $264 million, in comparison to the $401 million of revenue growth posted in 2021. While Palantir experiences some cyclicality, with the potential for stronger sales in the second half of the year, the Q1 2022 sales figure looks quite weak.</p><p>In fact, in Q1 2021, Palantir grew sales by $112 million (not shown here) which annualized at $448 million compared to the actual sales growth achieved in 2021 of $401 million (excluding Investee revenue). As a result, the Q1 2022 sales growth figure, which annualizes at $264 million, is worrisome when compared to 2021 and the company&#39;s 30% sales growth guidance.</p><p>If sales growth were to come in at $264 million for all of 2022 (excluding Investees), Palantir would grow at 17%. With 19% growth in Q1 2022, down from 37% in 2021, 17% growth would represent a stabilization of the existing downtrend rather than a continuation of Palantir&#39;s growth deceleration.</p><p>Growth stabilization looks to be a possibility as the following paraphrase from my Q1 2022 conference call notes highlights. The paraphrase pertains to management&#39;s discussion of Palantir&#39;s near-term sales guidance which disappointed investors (emphasis added): <i>&#34;We have visibility into the upside,</i> and the upside is quite large.&#34;</p><p><b>Upside Visibility</b></p><p>The bolded text in the above quote inspired the title for this report. It also captures the increasing upside visibility available to investors as Palantir&#39;s share price continues to fall. In terms of what could drive Palantir&#39;s revenue upside, management believes that US government sales will reaccelerate as 2022 unfolds. The 16% growth posted in Q1 2022 is well below the historical Government segment growth rate of 30% per year. This segment could certainly stabilize Palantir&#39;s growth rate as it represents 54% of sales as of Q1.</p><p>With Commercial segment sales growth stable in 2021 and Q1 2022 near 24% per year (excluding Investee revenue), the Government segment trending back towards its historical growth rate of 30% would return Palantir to the ballpark of its 30% annual sales growth guidance.</p><p>The following table highlights another Government segment growth vector that could open up given the extreme level of geopolitical instability and the structural ripple effects into the Commercial segment. These ripple effects are most clearly visible in the widespread failure of supply chains in recent times. The table was compiled from Palantir&#39;s Q1 2022 10-Q filed with the SEC. I have highlighted the additional Government growth vector.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cde3ec929a5825c2fbed7e6a378b108a\" tg-width=\"640\" tg-height=\"135\" width=\"100%\" height=\"auto\"/><span>Created by Brian Kapp, stoxdox</span></p><p>The US government represented 42% of Palantir&#39;s total sales in Q1 2022 or approximately $187 million. The UK is a large government customer as well, with the Royal Navy and NHS being notable Palantir customers. I estimate that the US and UK governments account for approximately 92% of Palantir&#39;s total Government segment sales. As a result, the vast majority of the rest of world sales in the above table represent Commercial segment sales. I estimate commercial sales comprise 84% of Palantir&#39;s rest of world revenue.</p><p>There is extraordinary upside potential for Palantir in the Government segment globally at only 16% of rest of world sales. With the US and UK governments serving as early adopters, other governments are likely to be incentivized to explore Palantir&#39;s capabilities.</p><p>Greater integration with the US and UK should become increasingly attractive for the rest of the world category. This is especially true given the geopolitical situation and associated commercial disruptions. The possibility that this could become a growth vector for Palantir is highlighted by the following two paraphrases from my Q1 2022 conference call notes: &#34;The nuclear threat is much higher than is believed or than is being portrayed in the media.&#34;</p><p>The underappreciated risk of nuclear events, while at the extreme end of the risk spectrum that Palantir&#39;s products help address, serves to accentuate the opportunity set for Palantir. There are an unlimited number of geopolitical risk vectors for the Government segment with direct ripple effects into the Commercial segment. These risks are now on the front burner for the world&#39;s governments and enterprises alike.</p><p>The second paraphrase from my notes pertains to the spillover of geopolitical tensions into the commercial realm and the disruption of supply chains in particular: &#34;Literally every function of every business is breaking.&#34;</p><p>In essence, Palantir believes that the rapid escalation of geopolitical risks (Russia and China in particular) and the spillover into the commercial sector represents an ideal backdrop for Palantir to sell into, given the company&#39;s deep roots in national security and mission-critical operations. I tend to agree overall with this positive competitive assessment for the coming years. These dynamics could very well lead to nearer-term growth opportunities that could surprise to the upside once the current growth disappointment dissipates and expectations are fully reset.</p><p><b>Consensus Growth Estimates</b></p><p>Interestingly, consensus revenue growth estimates remain unchanged since my February report. As evidenced by Palantir&#39;s collapsing share price, the market has sent a clear signal of no confidence in Palantir achieving 30% sales growth. That said, consensus growth estimates continue to embed the company&#39;s 30% sales growth guidance. Please note that consensus sales estimates include Investee revenue which should account for 6% of total sales in 2022. The following tables were compiled from Seeking Alpha and my prior article and display consensus estimates as of 5-15-22 compared to 2-2-22.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/796c39436a333158793cf93601e3da5f\" tg-width=\"638\" tg-height=\"242\" width=\"100%\" height=\"auto\"/><span>Seeking Alpha. Created by Brian Kapp, stoxdox</span></p><p>I have highlighted 2022 and 2023 for ease of comparison. Based on the underlying 17% to 19% sales growth trajectory as of Q1 2022 discussed above, the likelihood of missing estimates in 2022 and 2023 is elevated. This is especially true for sales in light of the termination of the Investee customer acquisition strategy. While consensus revenue estimates remain unchanged and at risk, earnings estimates have ratcheted lower since my last report as can be seen in the following table.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f7c561c18fb35635a76c9ce58f477db0\" tg-width=\"638\" tg-height=\"242\" width=\"100%\" height=\"auto\"/><span>Seeking Alpha. Created by Brian Kapp, stoxdox</span></p><p>I have highlighted in yellow the consensus earnings estimates for 2022 and 2023 which have declined by -20% and -14%, respectively, since February 2. Additionally, notice that the valuation multiple has contracted by 18%, from 62x to 51x the 2022 consensus estimate (highlighted in blue). The valuation multiple contracted 22%, from 45x to 35x the 2023 consensus earnings estimate. Please note that these are non-GAAP earnings estimates as Palantir currently operates at a loss on a GAAP basis.</p><p>Nonetheless, when earnings and valuation multiples are moving in the same direction, amplified price volatility is the end result. As investors, we are looking for situations in which earnings estimates and valuation multiples are moving up together, creating amplified upside opportunities. Palantir is clearly undergoing the opposite at the moment.</p><p><b>Profitability Trends</b></p><p>There remains further risk to consensus earnings estimates for 2022 and 2023 as is evidenced by the company&#39;s various profitability measures. When reviewing the underlying trend in Palantir&#39;s profitability measures, consensus estimates for 25% and 47% growth in 2022 and 2023, respectively, appear to be at risk. The following table was compiled from Palantir&#39;s Q1 2022 10-Q filed with the SEC and displays the company&#39;s adjusted operating income growth (highlighted in yellow).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e6c7104e38d18395dea8d8d4d8aa3b03\" tg-width=\"640\" tg-height=\"132\" width=\"100%\" height=\"auto\"/><span>Created by Brian Kapp, stoxdox</span></p><p>While Palantir&#39;s GAAP income is improving from -$114 million to -$39 million, its adjusted operating income has stagnated for all intents and purposes. The signs of profitability stagnation are also evident in Palantir&#39;s cash flow statement below (compiled from the same 10-Q). I have highlighted the key data points.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4643407d0c54c1abe4e12ae6e9a370de\" tg-width=\"640\" tg-height=\"464\" width=\"100%\" height=\"auto\"/><span>Created by Brian Kapp, stoxdox</span></p><p>Importantly, Palantir&#39;s Q1 cash flow from operations declined by 70% to $35 million in Q1 2022, while free cash flow turned decidedly negative (the yellow highlighted cells versus the blue highlighted cells). I have included Palantir&#39;s investments in Investees in my free cash flow estimation. This amounted to $89.5 million in Q1 and was recently discontinued. Regardless, Palantir&#39;s declining cash flows fully support the message from its stagnant adjusted income. The consensus earnings estimates of 25% for 2022 and 47% for 2023 are clearly at risk.</p><p><b>Key Business Measure</b></p><p>Palantir utilizes a KPI or Key Performance Indicator for allocating resources internally, which is closely related to the concept of gross profit margin, called Contribution Margin. For a more detailed discussion of this metric, please see my February report. The underlying trajectory of this KPI is similar to the adjusted income and cash flow trends above, if less extreme.</p><p>The following tables display Palantir&#39;s Contribution Margin and were compiled from the company&#39;s Q1 2022 10-Q and my previous Palantir report. The first table displays Q1 2022 and the second displays the trend through Q3 2021. Please note that I have color-coded the related cells for comparison within and between the tables.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f1976698261d14d8ba419b33b43766a8\" tg-width=\"640\" tg-height=\"423\" width=\"100%\" height=\"auto\"/><span>Created by Brian Kapp, stoxdox</span></p><p>Before displaying the 2021 data, please note that the Contribution Margin grew 24% in Q1 2022 (highlighted in yellow). The growth through Q3 2021 is displayed below and is also highlighted in yellow. Through the first three quarters of 2021, Contribution Margin grew by 64%, however, it slowed dramatically to 37% in Q3 2021 and 27% in Q4 2021 (not shown below). The research and development expense stagnation highlighted in blue, both above and below, will shed some light on the dynamics at play.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1eb3259f5f1b0ee57573816b7dd3484e\" tg-width=\"640\" tg-height=\"247\" width=\"100%\" height=\"auto\"/><span>Created by Brian Kapp, stoxdox</span></p><p>While the Contribution Margin is in a similar deceleration trend as most of Palantir&#39;s business metrics, at 24% growth in Q1 2022, the growth rate remains above all other metrics. The higher growth rate of Palantir&#39;s Contribution Margin in the face of stagnating adjusted income and declining cash flows is likely an artifact of the Investee program that was active through Q1 2022 and which was recently terminated.</p><p>In essence, Palantir invested in companies (Investees) in return for software sales commitments. Sales to such customers accounted for $39 million of Q1 2022 total sales. Notice in the first table that the 24% Contribution Margin growth in Q1 2022 equates to an increase of $48 million compared to Q1 2021. The Investee sales likely required little in the way of research and development or general and administrative expenses. Palantir acquired and implemented the relationships via an investment agreement.</p><p>As a result, the Contribution Margin growth of 24% in Q1 2022 is likely inflated by up to $39 million. Removing this would result in Contribution Margin growth of just 4%, which is more in line with the adjusted income stagnation and cash flow contraction. The stagnation of research and development expenses from Q3 2021 to Q1 2022 (highlighted in blue in the above tables) suggests that this is the correct inference regarding the inflated growth of Palantir&#39;s Contribution Margin compared to its other performance metrics.</p><p><b>Research and Development</b></p><p>In my February report, I highlighted the rapid slowdown of research and development expenses as a likely negative signal. The reason for this is Palantir&#39;s unique sales cycle compared to standard enterprise software companies. I covered the details of Palantir&#39;s unique sales cycle and customer cohorts in the prior report. The essence is captured by the following quote from the February article:</p><blockquote>The research and development investment slowdown could be a negative read through for sales growth as R&amp;D is an integral part of the sales process. Research and development expenses should track the sales cycle through the three customer phases: Acquire, Expand, and Scale… This does not appear to be happening at the moment.</blockquote><p>The following passage from Palantir&#39;s 2021 10-K supports my interpretation of the signal being sent by Palantir&#39;s stagnant research and development investment.</p><blockquote>We believe that in order to fully address the most complex and valuable challenges that our customers face, we must experience and understand their problems firsthand… we embed with our users. Our research and development function is responsible for the design, development, testing, validation, and refinement of our platforms, and embedding with our users allows us to identify research and development opportunities…</blockquote><p>In summary, all profit growth measures look to be on a stagnating trajectory at minimum and point to an elevated risk of disappointment in regard to consensus earnings growth estimates. As a result, a primary challenge in evaluating the timing of an investment in Palantir is inferring what is priced into the shares on the sales and earnings growth front. With consensus growth estimates and the underlying trends in hand, we can begin to construct Palantir&#39;s potential return spectrum.</p><p><b>Technicals</b></p><p>The technical backdrop provides an excellent bird&#39;s eye view of Palantir&#39;s upside return potential, while fundamental measures will dominate the downside return potential given that Palantir is testing new all-time lows. The following 2-year daily chart captures Palantir&#39;s IPO and the essence of the technical backdrop. I have highlighted the key resistance levels (technical upside targets) with orange lines.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a7a15fef920f0c09c71a9d697b708eaa\" tg-width=\"640\" tg-height=\"372\" width=\"100%\" height=\"auto\"/><span>Palantir 2-year daily chart (Created by Brian Kapp using a chart from Barchart.com)</span></p><p>Given the recent break to all-time lows, there are no visible technical support levels. The 1-year daily chart below provides a closer look.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/806868dae1d9a75949a30a224137e08e\" tg-width=\"640\" tg-height=\"372\" width=\"100%\" height=\"auto\"/><span>Palantir 1-year daily chart (Created by Brian Kapp using a chart from Barchart.com)</span></p><p>Please note that the gold line represents the 50-day moving average and the grey line denotes the 200-day moving average. At roughly $8 per share, Palantir is deeply oversold as is evidenced by it being 128% away from its 200-day moving average. The 200-day moving average happens to coincide with the second resistance level. This is likely to be a very heavy resistance zone as it served as the primary support level during Q2 and Q4 of 2021.</p><p>Before testing the upper resistance levels, Palantir will first have to clear the first resistance level near the IPO price of $10. The following 6-month daily chart zooms in on this first resistance level.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/94142f6bc2a59a08e88cd3e3422a9c12\" tg-width=\"640\" tg-height=\"372\" width=\"100%\" height=\"auto\"/><span>Palantir 6-month daily chart (Created by Brian Kapp using a chart from Barchart.com)</span></p><p>Notice that trading volume is dropping off following the two-day rally off the recent all-time low. This suggests that Palantir is likely to retest the all-time lows toward $6. A retest of the lows and the need for more extensive base building is well supported by the fundamental deterioration discussed above, as well as in my February report. This interpretation is also supported by the fact that Palantir still trades at an elevated valuation of 8.5x the 2022 consensus sales estimate and 51x the consensus non-GAAP EPS estimate.</p><p><b>Potential Return Spectrum</b></p><p>The upside return potential to each of the technical resistance levels is summarized in the table below. I have estimated the downside return potential using various comparable company valuations in the software industry: <a href=\"https://laohu8.com/S/CRM\">Salesforce</a> (CRM), <a href=\"https://laohu8.com/S/WDAY\">Workday</a> (WDAY), and Splunk (SPLK). These comparables are a good representation of current valuations throughout the software sector. The lowest downside return estimate is arrived at by applying the market multiple to Palantir&#39;s 2022 EPS estimate.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/69450b8413221d5ba42faa5de2a4591f\" tg-width=\"640\" tg-height=\"402\" width=\"100%\" height=\"auto\"/><span>Seeking Alpha. Created by Brian Kapp, stoxdox</span></p><p>I have highlighted in yellow what I view as the most likely nearer-term return spectrum of -30% to +128%. The blue highlighted cells represent my estimation of the nearer-term (1-3 years) extremes of the potential return spectrum, which ranges from -44% to +239%.</p><p>The -60% downside potential cannot be ruled out if Palantir&#39;s growth disappointment persists, however, I view this as a low probability level even with further disappointment. On the upside, assuming Palantir begins to gain material traction in the Commercial segment, all-time highs within a 5-year time frame are a reasonable possibility. If so, the upside opportunity is extraordinary at +463%.</p><p><b>Summary</b></p><p>All told, Palantir&#39;s risk/reward asymmetry is heavily skewed to the upside. The vast nature of its long-term opportunity combined with its well-advanced valuation correction should bring all secular growth investors to attention. With the stock highly likely to retest recent lows or lower while building a base, the time is now to plan and execute an accumulation strategy for those seeking exceptional return potential.</p><p>If Palantir can execute on its growth plan and become some version of what AWS was to the last decade, the upside potential is truly vast. In conclusion, my prior quote captures the essence of the Palantir investment case, from the perspective of the company and its business as well as that of an investor: &#34;We have visibility into the upside, and the upside is quite large.&#34;</p><p><b>Investee Details</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/54e74788c15daaafe35356e42375e00c\" tg-width=\"640\" tg-height=\"474\" width=\"100%\" height=\"auto\"/><span>Created by Brian Kapp, stoxdox</span></p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir: Visibility Into The Upside</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\">\nPalantir: Visibility Into The Upside\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-20 10:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4513235-palantir-visibility-into-the-upside><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryPalantir shares have been rocked as the market prices in an underlying growth rate closer to 20% rather than the company’s 30% guidance.Management stated that its Foundry platform could be to ...</p>\n\n<a href=\"https://seekingalpha.com/article/4513235-palantir-visibility-into-the-upside\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4513235-palantir-visibility-into-the-upside","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2236338440","content_text":"SummaryPalantir shares have been rocked as the market prices in an underlying growth rate closer to 20% rather than the company’s 30% guidance.Management stated that its Foundry platform could be to the coming decade what Amazon’s AWS was to the last, offering a glimpse into the vast upside potential.Palantir has suspended its SPAC investment strategy, eliminating a major customer acquisition red flag after unrealized losses surpassed $200 million.With growth slowing, the open question is whether Palantir can broadly penetrate the enterprise software market and the non-US and UK government market.Palantir offers one of the largest long-term growth opportunities in the marketplace. With the shares down 87% and expectations adjusting lower, there is increasing visibility into the upside potential.agawa288/iStock via Getty ImagesI am assigning Palantir (NYSE:PLTR) a positive risk/reward rating based on the vast nature of its long-term opportunity set, its increasingly attractive valuation, and its deeply oversold technical position. In my prior Palantir report from February 3, 2022, I made the following observation of the likely downside potential for Palantir:To estimate downside potential beneath $10, I apply an earnings multiple of 40x the 2022 non-GAAP consensus earnings estimate… would place Palantir shares at $8… If the 39% consensus earnings estimate for 2022 is too high, further downside from $8 is in the realm of possibility… I apply the same 40x non-GAAP earnings to my estimate of Palantir's current annual run rate… If earnings growth comes in at 25% for 2022 (my estimate of adjusted gross profit growth as of Q3 2021)… the shares could trade down to $6.In fact, the shares touched a low of $6.44 on May 12, 2022, punctuating a vicious -32% selloff following the company's Q1 2022 earnings release. Interestingly, consensus earnings growth estimates are now aligned with my previous 25% earnings growth estimate for 2022. The extraordinary volatility is a reminder that Palantir is for those seeking exceptional growth potential with the associated risk.Nonetheless, the shares are testing a reasonable valuation zone, as outlined in my prior report. Additionally, Palantir's stock is down roughly 87% from its all-time high reached in 2021. As a result, it is fair to say that a significant amount of risk has already materialized and thus has been removed from Palantir's share price.Risk/Reward Rating: PositiveWhile taking notes during Palantir's Q1 2022 earnings conference call, one line, in particular, stood out and captures the essence of the Palantir investment case. The following is a paraphrase of my notes from the call: \"What AWS was to the last decade, Foundry will be to the next.\"Foundry is one of three primary platforms offered by Palantir. This type of vision speaks to the upside opportunity that many envision for Palantir's future. Most investors attribute the majority of Amazon's (AMZN) $1.2 trillion market value to its AWS division. As a result, even a fraction of an AWS-like opportunity represents extraordinary growth potential for Palantir and its shareholders. Palantir's current valuation is near $18 billion (using the fully diluted share count) and trending lower.Growth TrajectoryIn terms of its growth potential, Palantir continues to guide investors to 30% revenue growth per year through 2025. The 32% selloff in the shares following the reiteration of this guidance speaks to the challenge facing Palantir's stock in the near term. The market has clearly signaled that it doubts whether management's 30% growth guidance can be achieved. I spoke to the high likelihood that growth would disappoint in my February report after breaking down Palantir's growth by customer cohort (emphasis added):Similar to the Scale cohort growth rate annualizing at 20% in 2021, the new customer sales growth rate is annualizing at 22% through Q3 2021… As a result, Palantir appears to be trending toward an underlying sales growth rate closer to 20% than the company's 30% sales growth guidance through mid-decade.Now that the risk of disappointment has materialized, the market is increasingly uncertain about the sustainable growth trajectory for Palantir. To tackle this question, I compiled Palantir's segment sales performance for Q1 2022 and the full year of 2021 to construct a picture of the near-term growth trajectory. The following two tables were compiled from Palantir's Q1 2022 10-Q and 2021 10-K filed with the SEC. The first table displays Q1 2022 and the second displays 2021. Please note that I have color-coded the related cells for comparison within and between the tables.Created by Brian Kapp, stoxdoxBefore adding the 2021 table for comparison, note that Palantir grew its revenue by just over 19% in Q1 2022, excluding revenue from Investees (the lower blue highlighted cell). Please compare the 19% growth in Q1 2022 to the blue highlighted cells in the table below for 2021. The growth deceleration is material excluding Investee revenue.I would highly recommend reading my prior report for a detailed discussion of the Investee situation. A summary of the current Investees is included at the end of this article for those interested. In essence, investing in companies in return for software sales to those same companies is not a sustainable customer acquisition strategy.As a result, I and many others exclude sales to Investees from view when trying to determine Palantir's sustainable growth trajectory. Interestingly, Palantir stated on the Q1 2022 conference call that they have discontinued the Investee program thus removing a major red flag going forward.Created by Brian Kapp, stoxdoxNotice that total sales grew nearly 37% excluding Investees in 2021 (the lower blue highlighted cell). It should be noted that the growth rate in Q3 2021 was 29% and in Q4 2021 it was 25% (not shown here). The 19% growth posted in Q1 2022 is a substantial deceleration, however, it is generally in line with what one would expect given the preexisting slowdown in Palantir's growth trajectory.I have highlighted in yellow the total dollar growth of revenue for Q1 2022 and the full year of 2021 (excluding sales to Investees). The $66 million of revenue growth in Q1 2022 annualizes at $264 million, in comparison to the $401 million of revenue growth posted in 2021. While Palantir experiences some cyclicality, with the potential for stronger sales in the second half of the year, the Q1 2022 sales figure looks quite weak.In fact, in Q1 2021, Palantir grew sales by $112 million (not shown here) which annualized at $448 million compared to the actual sales growth achieved in 2021 of $401 million (excluding Investee revenue). As a result, the Q1 2022 sales growth figure, which annualizes at $264 million, is worrisome when compared to 2021 and the company's 30% sales growth guidance.If sales growth were to come in at $264 million for all of 2022 (excluding Investees), Palantir would grow at 17%. With 19% growth in Q1 2022, down from 37% in 2021, 17% growth would represent a stabilization of the existing downtrend rather than a continuation of Palantir's growth deceleration.Growth stabilization looks to be a possibility as the following paraphrase from my Q1 2022 conference call notes highlights. The paraphrase pertains to management's discussion of Palantir's near-term sales guidance which disappointed investors (emphasis added): \"We have visibility into the upside, and the upside is quite large.\"Upside VisibilityThe bolded text in the above quote inspired the title for this report. It also captures the increasing upside visibility available to investors as Palantir's share price continues to fall. In terms of what could drive Palantir's revenue upside, management believes that US government sales will reaccelerate as 2022 unfolds. The 16% growth posted in Q1 2022 is well below the historical Government segment growth rate of 30% per year. This segment could certainly stabilize Palantir's growth rate as it represents 54% of sales as of Q1.With Commercial segment sales growth stable in 2021 and Q1 2022 near 24% per year (excluding Investee revenue), the Government segment trending back towards its historical growth rate of 30% would return Palantir to the ballpark of its 30% annual sales growth guidance.The following table highlights another Government segment growth vector that could open up given the extreme level of geopolitical instability and the structural ripple effects into the Commercial segment. These ripple effects are most clearly visible in the widespread failure of supply chains in recent times. The table was compiled from Palantir's Q1 2022 10-Q filed with the SEC. I have highlighted the additional Government growth vector.Created by Brian Kapp, stoxdoxThe US government represented 42% of Palantir's total sales in Q1 2022 or approximately $187 million. The UK is a large government customer as well, with the Royal Navy and NHS being notable Palantir customers. I estimate that the US and UK governments account for approximately 92% of Palantir's total Government segment sales. As a result, the vast majority of the rest of world sales in the above table represent Commercial segment sales. I estimate commercial sales comprise 84% of Palantir's rest of world revenue.There is extraordinary upside potential for Palantir in the Government segment globally at only 16% of rest of world sales. With the US and UK governments serving as early adopters, other governments are likely to be incentivized to explore Palantir's capabilities.Greater integration with the US and UK should become increasingly attractive for the rest of the world category. This is especially true given the geopolitical situation and associated commercial disruptions. The possibility that this could become a growth vector for Palantir is highlighted by the following two paraphrases from my Q1 2022 conference call notes: \"The nuclear threat is much higher than is believed or than is being portrayed in the media.\"The underappreciated risk of nuclear events, while at the extreme end of the risk spectrum that Palantir's products help address, serves to accentuate the opportunity set for Palantir. There are an unlimited number of geopolitical risk vectors for the Government segment with direct ripple effects into the Commercial segment. These risks are now on the front burner for the world's governments and enterprises alike.The second paraphrase from my notes pertains to the spillover of geopolitical tensions into the commercial realm and the disruption of supply chains in particular: \"Literally every function of every business is breaking.\"In essence, Palantir believes that the rapid escalation of geopolitical risks (Russia and China in particular) and the spillover into the commercial sector represents an ideal backdrop for Palantir to sell into, given the company's deep roots in national security and mission-critical operations. I tend to agree overall with this positive competitive assessment for the coming years. These dynamics could very well lead to nearer-term growth opportunities that could surprise to the upside once the current growth disappointment dissipates and expectations are fully reset.Consensus Growth EstimatesInterestingly, consensus revenue growth estimates remain unchanged since my February report. As evidenced by Palantir's collapsing share price, the market has sent a clear signal of no confidence in Palantir achieving 30% sales growth. That said, consensus growth estimates continue to embed the company's 30% sales growth guidance. Please note that consensus sales estimates include Investee revenue which should account for 6% of total sales in 2022. The following tables were compiled from Seeking Alpha and my prior article and display consensus estimates as of 5-15-22 compared to 2-2-22.Seeking Alpha. Created by Brian Kapp, stoxdoxI have highlighted 2022 and 2023 for ease of comparison. Based on the underlying 17% to 19% sales growth trajectory as of Q1 2022 discussed above, the likelihood of missing estimates in 2022 and 2023 is elevated. This is especially true for sales in light of the termination of the Investee customer acquisition strategy. While consensus revenue estimates remain unchanged and at risk, earnings estimates have ratcheted lower since my last report as can be seen in the following table.Seeking Alpha. Created by Brian Kapp, stoxdoxI have highlighted in yellow the consensus earnings estimates for 2022 and 2023 which have declined by -20% and -14%, respectively, since February 2. Additionally, notice that the valuation multiple has contracted by 18%, from 62x to 51x the 2022 consensus estimate (highlighted in blue). The valuation multiple contracted 22%, from 45x to 35x the 2023 consensus earnings estimate. Please note that these are non-GAAP earnings estimates as Palantir currently operates at a loss on a GAAP basis.Nonetheless, when earnings and valuation multiples are moving in the same direction, amplified price volatility is the end result. As investors, we are looking for situations in which earnings estimates and valuation multiples are moving up together, creating amplified upside opportunities. Palantir is clearly undergoing the opposite at the moment.Profitability TrendsThere remains further risk to consensus earnings estimates for 2022 and 2023 as is evidenced by the company's various profitability measures. When reviewing the underlying trend in Palantir's profitability measures, consensus estimates for 25% and 47% growth in 2022 and 2023, respectively, appear to be at risk. The following table was compiled from Palantir's Q1 2022 10-Q filed with the SEC and displays the company's adjusted operating income growth (highlighted in yellow).Created by Brian Kapp, stoxdoxWhile Palantir's GAAP income is improving from -$114 million to -$39 million, its adjusted operating income has stagnated for all intents and purposes. The signs of profitability stagnation are also evident in Palantir's cash flow statement below (compiled from the same 10-Q). I have highlighted the key data points.Created by Brian Kapp, stoxdoxImportantly, Palantir's Q1 cash flow from operations declined by 70% to $35 million in Q1 2022, while free cash flow turned decidedly negative (the yellow highlighted cells versus the blue highlighted cells). I have included Palantir's investments in Investees in my free cash flow estimation. This amounted to $89.5 million in Q1 and was recently discontinued. Regardless, Palantir's declining cash flows fully support the message from its stagnant adjusted income. The consensus earnings estimates of 25% for 2022 and 47% for 2023 are clearly at risk.Key Business MeasurePalantir utilizes a KPI or Key Performance Indicator for allocating resources internally, which is closely related to the concept of gross profit margin, called Contribution Margin. For a more detailed discussion of this metric, please see my February report. The underlying trajectory of this KPI is similar to the adjusted income and cash flow trends above, if less extreme.The following tables display Palantir's Contribution Margin and were compiled from the company's Q1 2022 10-Q and my previous Palantir report. The first table displays Q1 2022 and the second displays the trend through Q3 2021. Please note that I have color-coded the related cells for comparison within and between the tables.Created by Brian Kapp, stoxdoxBefore displaying the 2021 data, please note that the Contribution Margin grew 24% in Q1 2022 (highlighted in yellow). The growth through Q3 2021 is displayed below and is also highlighted in yellow. Through the first three quarters of 2021, Contribution Margin grew by 64%, however, it slowed dramatically to 37% in Q3 2021 and 27% in Q4 2021 (not shown below). The research and development expense stagnation highlighted in blue, both above and below, will shed some light on the dynamics at play.Created by Brian Kapp, stoxdoxWhile the Contribution Margin is in a similar deceleration trend as most of Palantir's business metrics, at 24% growth in Q1 2022, the growth rate remains above all other metrics. The higher growth rate of Palantir's Contribution Margin in the face of stagnating adjusted income and declining cash flows is likely an artifact of the Investee program that was active through Q1 2022 and which was recently terminated.In essence, Palantir invested in companies (Investees) in return for software sales commitments. Sales to such customers accounted for $39 million of Q1 2022 total sales. Notice in the first table that the 24% Contribution Margin growth in Q1 2022 equates to an increase of $48 million compared to Q1 2021. The Investee sales likely required little in the way of research and development or general and administrative expenses. Palantir acquired and implemented the relationships via an investment agreement.As a result, the Contribution Margin growth of 24% in Q1 2022 is likely inflated by up to $39 million. Removing this would result in Contribution Margin growth of just 4%, which is more in line with the adjusted income stagnation and cash flow contraction. The stagnation of research and development expenses from Q3 2021 to Q1 2022 (highlighted in blue in the above tables) suggests that this is the correct inference regarding the inflated growth of Palantir's Contribution Margin compared to its other performance metrics.Research and DevelopmentIn my February report, I highlighted the rapid slowdown of research and development expenses as a likely negative signal. The reason for this is Palantir's unique sales cycle compared to standard enterprise software companies. I covered the details of Palantir's unique sales cycle and customer cohorts in the prior report. The essence is captured by the following quote from the February article:The research and development investment slowdown could be a negative read through for sales growth as R&D is an integral part of the sales process. Research and development expenses should track the sales cycle through the three customer phases: Acquire, Expand, and Scale… This does not appear to be happening at the moment.The following passage from Palantir's 2021 10-K supports my interpretation of the signal being sent by Palantir's stagnant research and development investment.We believe that in order to fully address the most complex and valuable challenges that our customers face, we must experience and understand their problems firsthand… we embed with our users. Our research and development function is responsible for the design, development, testing, validation, and refinement of our platforms, and embedding with our users allows us to identify research and development opportunities…In summary, all profit growth measures look to be on a stagnating trajectory at minimum and point to an elevated risk of disappointment in regard to consensus earnings growth estimates. As a result, a primary challenge in evaluating the timing of an investment in Palantir is inferring what is priced into the shares on the sales and earnings growth front. With consensus growth estimates and the underlying trends in hand, we can begin to construct Palantir's potential return spectrum.TechnicalsThe technical backdrop provides an excellent bird's eye view of Palantir's upside return potential, while fundamental measures will dominate the downside return potential given that Palantir is testing new all-time lows. The following 2-year daily chart captures Palantir's IPO and the essence of the technical backdrop. I have highlighted the key resistance levels (technical upside targets) with orange lines.Palantir 2-year daily chart (Created by Brian Kapp using a chart from Barchart.com)Given the recent break to all-time lows, there are no visible technical support levels. The 1-year daily chart below provides a closer look.Palantir 1-year daily chart (Created by Brian Kapp using a chart from Barchart.com)Please note that the gold line represents the 50-day moving average and the grey line denotes the 200-day moving average. At roughly $8 per share, Palantir is deeply oversold as is evidenced by it being 128% away from its 200-day moving average. The 200-day moving average happens to coincide with the second resistance level. This is likely to be a very heavy resistance zone as it served as the primary support level during Q2 and Q4 of 2021.Before testing the upper resistance levels, Palantir will first have to clear the first resistance level near the IPO price of $10. The following 6-month daily chart zooms in on this first resistance level.Palantir 6-month daily chart (Created by Brian Kapp using a chart from Barchart.com)Notice that trading volume is dropping off following the two-day rally off the recent all-time low. This suggests that Palantir is likely to retest the all-time lows toward $6. A retest of the lows and the need for more extensive base building is well supported by the fundamental deterioration discussed above, as well as in my February report. This interpretation is also supported by the fact that Palantir still trades at an elevated valuation of 8.5x the 2022 consensus sales estimate and 51x the consensus non-GAAP EPS estimate.Potential Return SpectrumThe upside return potential to each of the technical resistance levels is summarized in the table below. I have estimated the downside return potential using various comparable company valuations in the software industry: Salesforce (CRM), Workday (WDAY), and Splunk (SPLK). These comparables are a good representation of current valuations throughout the software sector. The lowest downside return estimate is arrived at by applying the market multiple to Palantir's 2022 EPS estimate.Seeking Alpha. Created by Brian Kapp, stoxdoxI have highlighted in yellow what I view as the most likely nearer-term return spectrum of -30% to +128%. The blue highlighted cells represent my estimation of the nearer-term (1-3 years) extremes of the potential return spectrum, which ranges from -44% to +239%.The -60% downside potential cannot be ruled out if Palantir's growth disappointment persists, however, I view this as a low probability level even with further disappointment. On the upside, assuming Palantir begins to gain material traction in the Commercial segment, all-time highs within a 5-year time frame are a reasonable possibility. If so, the upside opportunity is extraordinary at +463%.SummaryAll told, Palantir's risk/reward asymmetry is heavily skewed to the upside. The vast nature of its long-term opportunity combined with its well-advanced valuation correction should bring all secular growth investors to attention. With the stock highly likely to retest recent lows or lower while building a base, the time is now to plan and execute an accumulation strategy for those seeking exceptional return potential.If Palantir can execute on its growth plan and become some version of what AWS was to the last decade, the upside potential is truly vast. In conclusion, my prior quote captures the essence of the Palantir investment case, from the perspective of the company and its business as well as that of an investor: \"We have visibility into the upside, and the upside is quite large.\"Investee DetailsCreated by Brian Kapp, stoxdox","news_type":1},"isVote":1,"tweetType":1,"viewCount":37,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035405782,"gmtCreate":1647650220282,"gmtModify":1676534254992,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Okay","listText":"Okay","text":"Okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035405782","repostId":"2220484770","repostType":4,"repost":{"id":"2220484770","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1647644857,"share":"https://ttm.financial/m/news/2220484770?lang=&edition=fundamental","pubTime":"2022-03-19 07:07","market":"us","language":"en","title":"Wall St Closes Higher after Biden-XI Talks End, Oil Steadies","url":"https://stock-news.laohu8.com/highlight/detail?id=2220484770","media":"Reuters","summary":"No. But is it happier that it's around $100 than going up $20 every day?Of course.\"Investors were also monitoring for any impact from Friday's  \"triple witching,\" in which investors unwind positions in futures and options contracts before they expire, which can lead to volatility and trading volume.On Friday the expirations appeared to boost volume as 18.47 billion shares changed hands on U.S. exchanges compared with the 14.56 billion moving average for the last 20 sessions.The Dow Jones Industr","content":"<html><head></head><body><p>* FedEx falls on lower-than-expected quarterly earnings</p><p>* Moderna up on seeking FDA authorization for second booster</p><p>* Indexes rise: Dow 0.8%, S&amp;P 500 1.17%, Nasdaq 2.05%</p><p>March 18 (Reuters) - Wall Street&#39;s three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.</p><p>Investors were also relieved by slowing gains in oil prices as they continued to digest the Federal Reserve&#39;s Wednesday interest rate increase and its aggressive plan for further hikes aimed at combating soaring inflation.</p><p>&#34;The read out from the meeting was as expected,&#34; said Art Hogan, chief market strategist at National Securities in New York regarding the Xi/Biden talks. He said that since Russia/Ukraine talks were continuing, investors were tending toward optimism.</p><p>&#34;Regarding Russia, Ukraine, the market has been more  positive on news from the diplomatic front than negative on the escalation.&#34;</p><p>Hogan also cited calmer oil prices and relief that the highly anticipated Fed news was finally out.</p><p>&#34;Instead of having fears and trepidation of what the Fed might do we have clear roadmap for monetary policy,&#34; he said.</p><p>In addition to less onerous than expected Fed actions, Steve Sosnick, chief strategist at Interactive Brokers in Greenwich, Connecticut said investors were reassured that U.S. crude oil prices weren&#39;t too far above $100 on Friday after recently surpassing $130.</p><p>&#34;At least for this week oil has found a level. That&#39;s someway positive for the market as a rising oil price is overweighted in consumer minds as an inflationary indicator,&#34; said Sosnick. &#34;Does the market like oil around $100? No. But is it happier that it&#39;s around $100 than going up $20 every day? Of course.&#34;</p><p>Investors were also monitoring for any impact from Friday&#39;s  &#34;triple witching,&#34; in which investors unwind positions in futures and options contracts before they expire, which can lead to volatility and trading volume.</p><p>On Friday the expirations appeared to boost volume as 18.47 billion shares changed hands on U.S. exchanges compared with the 14.56 billion moving average for the last 20 sessions.</p><p>The Dow Jones Industrial Average rose 274.17 points, or 0.8%, to 34,754.93, the S&amp;P 500 gained 51.45 points, or 1.17%, to 4,463.12 and the Nasdaq Composite added 279.06 points, or 2.05%, to 13,893.84.</p><p>Wall Street&#39;s three main indexes boasted their biggest weekly percentage gains since early November 2020 with the S&amp;P adding 6.2% while the Dow rose 5.5% and the Nasdaq jumping 8.2%.</p><p>Ten of the 11 major S&amp;P 500 sectors closed higher, with heavyweight technology and consumer discretionary both finishing up 2.2% while communication services rising 1.4%.</p><p>The only declining sector was utilities which ended the session down 0.9%.</p><p>Moderna Inc closed up 6.3% after the drugmaker submitted a request to the U.S. Food and Drug Administration to allow for a second booster of its COVID-19 vaccine.</p><p>Shares of Boeing Co finished up 1.4% after reports the planemaker was edging toward a landmark order from Delta Air Lines    for up to 100 of its 737 MAX 10 jets.</p><p>But shares in U.S. delivery firm FedEx Corp slumped almost 4% after a weaker-than-expected quarterly earnings report.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.20-to-1 ratio; on Nasdaq, a 2.19-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 19 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 44 new highs and 41 new lows.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St Closes Higher after Biden-XI Talks End, Oil Steadies</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall St Closes Higher after Biden-XI Talks End, Oil Steadies\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-19 07:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* FedEx falls on lower-than-expected quarterly earnings</p><p>* Moderna up on seeking FDA authorization for second booster</p><p>* Indexes rise: Dow 0.8%, S&amp;P 500 1.17%, Nasdaq 2.05%</p><p>March 18 (Reuters) - Wall Street&#39;s three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.</p><p>Investors were also relieved by slowing gains in oil prices as they continued to digest the Federal Reserve&#39;s Wednesday interest rate increase and its aggressive plan for further hikes aimed at combating soaring inflation.</p><p>&#34;The read out from the meeting was as expected,&#34; said Art Hogan, chief market strategist at National Securities in New York regarding the Xi/Biden talks. He said that since Russia/Ukraine talks were continuing, investors were tending toward optimism.</p><p>&#34;Regarding Russia, Ukraine, the market has been more  positive on news from the diplomatic front than negative on the escalation.&#34;</p><p>Hogan also cited calmer oil prices and relief that the highly anticipated Fed news was finally out.</p><p>&#34;Instead of having fears and trepidation of what the Fed might do we have clear roadmap for monetary policy,&#34; he said.</p><p>In addition to less onerous than expected Fed actions, Steve Sosnick, chief strategist at Interactive Brokers in Greenwich, Connecticut said investors were reassured that U.S. crude oil prices weren&#39;t too far above $100 on Friday after recently surpassing $130.</p><p>&#34;At least for this week oil has found a level. That&#39;s someway positive for the market as a rising oil price is overweighted in consumer minds as an inflationary indicator,&#34; said Sosnick. &#34;Does the market like oil around $100? No. But is it happier that it&#39;s around $100 than going up $20 every day? Of course.&#34;</p><p>Investors were also monitoring for any impact from Friday&#39;s  &#34;triple witching,&#34; in which investors unwind positions in futures and options contracts before they expire, which can lead to volatility and trading volume.</p><p>On Friday the expirations appeared to boost volume as 18.47 billion shares changed hands on U.S. exchanges compared with the 14.56 billion moving average for the last 20 sessions.</p><p>The Dow Jones Industrial Average rose 274.17 points, or 0.8%, to 34,754.93, the S&amp;P 500 gained 51.45 points, or 1.17%, to 4,463.12 and the Nasdaq Composite added 279.06 points, or 2.05%, to 13,893.84.</p><p>Wall Street&#39;s three main indexes boasted their biggest weekly percentage gains since early November 2020 with the S&amp;P adding 6.2% while the Dow rose 5.5% and the Nasdaq jumping 8.2%.</p><p>Ten of the 11 major S&amp;P 500 sectors closed higher, with heavyweight technology and consumer discretionary both finishing up 2.2% while communication services rising 1.4%.</p><p>The only declining sector was utilities which ended the session down 0.9%.</p><p>Moderna Inc closed up 6.3% after the drugmaker submitted a request to the U.S. Food and Drug Administration to allow for a second booster of its COVID-19 vaccine.</p><p>Shares of Boeing Co finished up 1.4% after reports the planemaker was edging toward a landmark order from Delta Air Lines    for up to 100 of its 737 MAX 10 jets.</p><p>But shares in U.S. delivery firm FedEx Corp slumped almost 4% after a weaker-than-expected quarterly earnings report.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.20-to-1 ratio; on Nasdaq, a 2.19-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 19 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 44 new highs and 41 new lows.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","MRNA":"Moderna, Inc.","FDX":"联邦快递","BK4551":"寇图资本持仓","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","QID":"纳指两倍做空ETF","SH":"标普500反向ETF","TQQQ":"纳指三倍做多ETF","BK4581":"高盛持仓","IVV":"标普500指数ETF","BK4504":"桥水持仓","SSO":"两倍做多标普500ETF","BK4548":"巴美列捷福持仓","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares","OEX":"标普100","SQQQ":"纳指三倍做空ETF","BK4516":"特朗普概念","BK4564":"太空概念","BK4532":"文艺复兴科技持仓","QLD":"纳指两倍做多ETF","BK4187":"航天航空与国防","DXD":"道指两倍做空ETF","PSQ":"纳指反向ETF","SPY":"标普500ETF","BK4008":"航空公司","BA":"波音","BK4534":"瑞士信贷持仓","SDOW":"道指三倍做空ETF-ProShares","DDM":"道指两倍做多ETF","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","DAL":"达美航空","DJX":"1/100道琼斯","SDS":"两倍做空标普500ETF","BK4568":"美国抗疫概念","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓","QQQ":"纳指100ETF","DOG":"道指反向ETF","BK4500":"航空公司"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2220484770","content_text":"* FedEx falls on lower-than-expected quarterly earnings* Moderna up on seeking FDA authorization for second booster* Indexes rise: Dow 0.8%, S&P 500 1.17%, Nasdaq 2.05%March 18 (Reuters) - Wall Street's three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.Investors were also relieved by slowing gains in oil prices as they continued to digest the Federal Reserve's Wednesday interest rate increase and its aggressive plan for further hikes aimed at combating soaring inflation.\"The read out from the meeting was as expected,\" said Art Hogan, chief market strategist at National Securities in New York regarding the Xi/Biden talks. He said that since Russia/Ukraine talks were continuing, investors were tending toward optimism.\"Regarding Russia, Ukraine, the market has been more  positive on news from the diplomatic front than negative on the escalation.\"Hogan also cited calmer oil prices and relief that the highly anticipated Fed news was finally out.\"Instead of having fears and trepidation of what the Fed might do we have clear roadmap for monetary policy,\" he said.In addition to less onerous than expected Fed actions, Steve Sosnick, chief strategist at Interactive Brokers in Greenwich, Connecticut said investors were reassured that U.S. crude oil prices weren't too far above $100 on Friday after recently surpassing $130.\"At least for this week oil has found a level. That's someway positive for the market as a rising oil price is overweighted in consumer minds as an inflationary indicator,\" said Sosnick. \"Does the market like oil around $100? No. But is it happier that it's around $100 than going up $20 every day? Of course.\"Investors were also monitoring for any impact from Friday's  \"triple witching,\" in which investors unwind positions in futures and options contracts before they expire, which can lead to volatility and trading volume.On Friday the expirations appeared to boost volume as 18.47 billion shares changed hands on U.S. exchanges compared with the 14.56 billion moving average for the last 20 sessions.The Dow Jones Industrial Average rose 274.17 points, or 0.8%, to 34,754.93, the S&P 500 gained 51.45 points, or 1.17%, to 4,463.12 and the Nasdaq Composite added 279.06 points, or 2.05%, to 13,893.84.Wall Street's three main indexes boasted their biggest weekly percentage gains since early November 2020 with the S&P adding 6.2% while the Dow rose 5.5% and the Nasdaq jumping 8.2%.Ten of the 11 major S&P 500 sectors closed higher, with heavyweight technology and consumer discretionary both finishing up 2.2% while communication services rising 1.4%.The only declining sector was utilities which ended the session down 0.9%.Moderna Inc closed up 6.3% after the drugmaker submitted a request to the U.S. Food and Drug Administration to allow for a second booster of its COVID-19 vaccine.Shares of Boeing Co finished up 1.4% after reports the planemaker was edging toward a landmark order from Delta Air Lines    for up to 100 of its 737 MAX 10 jets.But shares in U.S. delivery firm FedEx Corp slumped almost 4% after a weaker-than-expected quarterly earnings report.Advancing issues outnumbered declining ones on the NYSE by a 2.20-to-1 ratio; on Nasdaq, a 2.19-to-1 ratio favored advancers.The S&P 500 posted 19 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 44 new highs and 41 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9993510812,"gmtCreate":1660700348839,"gmtModify":1676536382485,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9993510812","repostId":"2260850828","repostType":4,"repost":{"id":"2260850828","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1660684798,"share":"https://ttm.financial/m/news/2260850828?lang=&edition=fundamental","pubTime":"2022-08-17 05:19","market":"us","language":"en","title":"US STOCKS-Dow, S&P 500 Climb As Upbeat Results From Walmart, Others Boost Optimism","url":"https://stock-news.laohu8.com/highlight/detail?id=2260850828","media":"Reuters","summary":"(Reuters) - The Dow and S&P 500 rose on Tuesday as stronger-than-expected results and outlooks from ","content":"<html><head></head><body><p>(Reuters) - The Dow and S&amp;P 500 rose on Tuesday as stronger-than-expected results and outlooks from <a href=\"https://laohu8.com/S/WMT\">Walmart</a> and <a href=\"https://laohu8.com/S/HD\">Home Depot</a> bolstered views on the health of consumers, while technology shares declined and weighed on the Nasdaq.</p><p>The S&amp;P 500 consumer discretionary and staples sectors gave the benchmark index its biggest lift, while the S&amp;P 500 retail index rose 1.9%.</p><p>The S&amp;P 500 also came close to breaking above its 200-day moving average, a key technical level. The benchmark index has not closed above that level since early April.</p><p>Walmart Inc shares jumped 5.1% after the retailer forecast a smaller drop in full-year profit than previously projected, while Home Depot Inc gained 4.1% after it surpassed estimates for quarterly sales.</p><p>At the same time, the 10-year U.S. Treasury yield rose, weighing on technology and other high-growth stocks. Shares of Microsoft Corp were down 0.3% on Tuesday after recent gains.</p><p>After a harsh first half of the year, the S&amp;P 500 is up nearly 14% since the start of July, helped in part by better-than-expected earnings from Corporate America.</p><p>Investors have also been optimistic lately that the Federal Reserve can achieve a soft landing for the economy as it tightens policy and raises interest rates to reduce decades-high inflation.</p><p>&#34;When you transition from a bear market to a bull market, especially one where the Fed is raising rates and there are concerns over the consumer, you really want to see consumer discretionary underpinned by enthusiasm. And today&#39;s move in discretionary names is positive for the market,&#34; said Quincy Krosby, chief global strategist for LPL Financial in Charlotte, North Carolina.</p><p>Walmart in July slashed its profit forecast amid surging prices for food and fuel.</p><p>The Dow Jones Industrial Average rose 239.57 points, or 0.71%, to 34,152.01, the S&amp;P 500 gained 8.06 points, or 0.19%, to 4,305.2 and the Nasdaq Composite dropped 25.50 points, or 0.19%, to 13,102.55.</p><p>With results in from the majority of S&amp;P 500 companies, second-quarter earnings are expected to have risen 9.7% from a year earlier, compared with 5.6% estimated on July 1, according to IBES data from Refinitiv.</p><p>Shares of Target Corp, which reports quarterly results early on Wednesday, closed 4.6% higher.</p><p>Still, investors will be anxious to see July U.S. retail sales data, which is due on Wednesday as well. Also on Wednesday, the Fed is scheduled to release minutes from its July policy meeting.</p><p>Investor sentiment is still bearish, but no longer &#34;apocalyptically&#34; so, according to BofA&#39;s monthly survey of global fund managers in August.</p><p>Volume on U.S. exchanges was 10.92 billion shares, compared with the 10.96 billion average for the full session over the last 20 trading days.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.21-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 8 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 82 new highs and 40 new lows.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Dow, S&P 500 Climb As Upbeat Results From Walmart, Others Boost Optimism</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\">\nUS STOCKS-Dow, S&P 500 Climb As Upbeat Results From Walmart, Others Boost Optimism\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-08-17 05:19</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - The Dow and S&amp;P 500 rose on Tuesday as stronger-than-expected results and outlooks from <a href=\"https://laohu8.com/S/WMT\">Walmart</a> and <a href=\"https://laohu8.com/S/HD\">Home Depot</a> bolstered views on the health of consumers, while technology shares declined and weighed on the Nasdaq.</p><p>The S&amp;P 500 consumer discretionary and staples sectors gave the benchmark index its biggest lift, while the S&amp;P 500 retail index rose 1.9%.</p><p>The S&amp;P 500 also came close to breaking above its 200-day moving average, a key technical level. The benchmark index has not closed above that level since early April.</p><p>Walmart Inc shares jumped 5.1% after the retailer forecast a smaller drop in full-year profit than previously projected, while Home Depot Inc gained 4.1% after it surpassed estimates for quarterly sales.</p><p>At the same time, the 10-year U.S. Treasury yield rose, weighing on technology and other high-growth stocks. Shares of Microsoft Corp were down 0.3% on Tuesday after recent gains.</p><p>After a harsh first half of the year, the S&amp;P 500 is up nearly 14% since the start of July, helped in part by better-than-expected earnings from Corporate America.</p><p>Investors have also been optimistic lately that the Federal Reserve can achieve a soft landing for the economy as it tightens policy and raises interest rates to reduce decades-high inflation.</p><p>&#34;When you transition from a bear market to a bull market, especially one where the Fed is raising rates and there are concerns over the consumer, you really want to see consumer discretionary underpinned by enthusiasm. And today&#39;s move in discretionary names is positive for the market,&#34; said Quincy Krosby, chief global strategist for LPL Financial in Charlotte, North Carolina.</p><p>Walmart in July slashed its profit forecast amid surging prices for food and fuel.</p><p>The Dow Jones Industrial Average rose 239.57 points, or 0.71%, to 34,152.01, the S&amp;P 500 gained 8.06 points, or 0.19%, to 4,305.2 and the Nasdaq Composite dropped 25.50 points, or 0.19%, to 13,102.55.</p><p>With results in from the majority of S&amp;P 500 companies, second-quarter earnings are expected to have risen 9.7% from a year earlier, compared with 5.6% estimated on July 1, according to IBES data from Refinitiv.</p><p>Shares of Target Corp, which reports quarterly results early on Wednesday, closed 4.6% higher.</p><p>Still, investors will be anxious to see July U.S. retail sales data, which is due on Wednesday as well. Also on Wednesday, the Fed is scheduled to release minutes from its July policy meeting.</p><p>Investor sentiment is still bearish, but no longer &#34;apocalyptically&#34; so, according to BofA&#39;s monthly survey of global fund managers in August.</p><p>Volume on U.S. exchanges was 10.92 billion shares, compared with the 10.96 billion average for the full session over the last 20 trading days.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.21-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 8 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 82 new highs and 40 new lows.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2260850828","content_text":"(Reuters) - The Dow and S&P 500 rose on Tuesday as stronger-than-expected results and outlooks from Walmart and Home Depot bolstered views on the health of consumers, while technology shares declined and weighed on the Nasdaq.The S&P 500 consumer discretionary and staples sectors gave the benchmark index its biggest lift, while the S&P 500 retail index rose 1.9%.The S&P 500 also came close to breaking above its 200-day moving average, a key technical level. The benchmark index has not closed above that level since early April.Walmart Inc shares jumped 5.1% after the retailer forecast a smaller drop in full-year profit than previously projected, while Home Depot Inc gained 4.1% after it surpassed estimates for quarterly sales.At the same time, the 10-year U.S. Treasury yield rose, weighing on technology and other high-growth stocks. Shares of Microsoft Corp were down 0.3% on Tuesday after recent gains.After a harsh first half of the year, the S&P 500 is up nearly 14% since the start of July, helped in part by better-than-expected earnings from Corporate America.Investors have also been optimistic lately that the Federal Reserve can achieve a soft landing for the economy as it tightens policy and raises interest rates to reduce decades-high inflation.\"When you transition from a bear market to a bull market, especially one where the Fed is raising rates and there are concerns over the consumer, you really want to see consumer discretionary underpinned by enthusiasm. And today's move in discretionary names is positive for the market,\" said Quincy Krosby, chief global strategist for LPL Financial in Charlotte, North Carolina.Walmart in July slashed its profit forecast amid surging prices for food and fuel.The Dow Jones Industrial Average rose 239.57 points, or 0.71%, to 34,152.01, the S&P 500 gained 8.06 points, or 0.19%, to 4,305.2 and the Nasdaq Composite dropped 25.50 points, or 0.19%, to 13,102.55.With results in from the majority of S&P 500 companies, second-quarter earnings are expected to have risen 9.7% from a year earlier, compared with 5.6% estimated on July 1, according to IBES data from Refinitiv.Shares of Target Corp, which reports quarterly results early on Wednesday, closed 4.6% higher.Still, investors will be anxious to see July U.S. retail sales data, which is due on Wednesday as well. Also on Wednesday, the Fed is scheduled to release minutes from its July policy meeting.Investor sentiment is still bearish, but no longer \"apocalyptically\" so, according to BofA's monthly survey of global fund managers in August.Volume on U.S. exchanges was 10.92 billion shares, compared with the 10.96 billion average for the full session over the last 20 trading days.Advancing issues outnumbered declining ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.21-to-1 ratio favored decliners.The S&P 500 posted 8 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 82 new highs and 40 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9071473175,"gmtCreate":1657583261997,"gmtModify":1676536028520,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9071473175","repostId":"2250961053","repostType":4,"repost":{"id":"2250961053","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1657570800,"share":"https://ttm.financial/m/news/2250961053?lang=&edition=fundamental","pubTime":"2022-07-12 04:20","market":"us","language":"en","title":"US STOCKS-Wall Street Ends Lower Ahead of Economic Data, Earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=2250961053","media":"Reuters","summary":"Big bank earnings, CPI data expected later this weekU.S. casino operators fall as Macau shutters cas","content":"<html><head></head><body><ul><li>Big bank earnings, CPI data expected later this week</li><li>U.S. casino operators fall as Macau shutters casinos</li><li>Market leading growth stocks drag down Nasdaq</li><li>Indexes down: Dow 0.52%, S&amp;P 1.15%, Nasdaq 2.26%</li></ul><p>(Reuters) - U.S. stocks lost ground on Monday as a lack of catalysts left market participants warily embarking on a week back-end loaded with crucial inflation data and the unofficial beginning to second-quarter earnings season.</p><p>Market leading growth stocks pulled all three major U.S. stock indexes into negative territory, with risk-off sentiment exacerbated by Macau&#39;s first casino shutdown in over two years to curb the spread of COVID-19.</p><p>&#34;It’s a nervous market,&#34; said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle. &#34;It’s all about the kick-off to earnings season and what inflation (data) tells us.&#34;</p><p>&#34;We know inflation is being driven by supply constraints, and China is an important factor,&#34; Haworth added. &#34;And (the Macau shutdown) threw a cold blanket on the market this morning.&#34;</p><p>Results from big banks, including JPMorgan Chase &amp; Co , $Citigroup Inc(C-N)$, and Wells Fargo &amp; Co, are expected to launch second-quarter reporting season later this week.</p><p>The S&amp;P 500 Banking index slid 1.0%.</p><p>Analysts expect steep plunges of year-on-year profits as the companies grow their loan loss reserves, fueling fears of impending recession.</p><p>Later in the week a raft of economic data - including consumer prices, retail sales and factory output - should provide a glimpse of the extent to which inflation has peaked and the economy has cooled down as the Federal Reserve moves closer to next week&#39;s policy meeting, which is expected to culminate in the second straight 75 basis point interest rate hike.</p><p>&#34;The market is trying to caution itself ahead of that (CPI) print,&#34; Haworth said. &#34;We’re hoping for a slowdown, which would put the Federal Reserve in a softer stance, but on the other hand, there are lots of reasons to believe inflation could stay high and the Fed will remain aggressive.&#34;</p><p>The market currently expects that the central bank will raise the Fed funds futures rate by 75 basis points in its latest salvo against red-hot inflation, a tactic which some fear could tip an already cooling economy into recession.</p><p>The Dow Jones Industrial Average fell 164.31 points, or 0.52%, to 31,173.84, the S&amp;P 500 lost 44.95 points, or 1.15%, to 3,854.43 and the Nasdaq Composite dropped 262.71 points, or 2.26%, to 11,372.60.</p><p>Of the 11 major sectors in the S&amp;P 500, communication services suffered the biggest percentage drop, while utilities led the gainers.</p><p>Before big banks launch second quarter earnings season in earnest on Thursday and Friday, PepsiCo and Delta Air Line results are expected Tuesday and Wednesday, respectively.</p><p>As of Friday, analysts saw aggregate annual S&amp;P earnings growth of 5.7% for the April to June period, down from the 6.8% forecast at the beginning of the quarter, according to Refinitiv.</p><p>Twitter Inc tumbled 11.3% in the wake of Elon Musk saying he is terminating his deal to buy the social media company.</p><p>Shares of U.S. casino operators Las Vegas Sands, Wynn Resorts and Melco Resorts fell between 6.3% and 9.6% after Macau shuttered all casinos to contain its worst COVID outbreak since the health crisis began.</p><p>The broader S&amp;P 1500 Hotel, Restaurant and Leisure index dipped 1.5%.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.41-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted two new 52-week highs and 30 new lows; the Nasdaq Composite recorded 20 new highs and 130 new lows.</p><p>Volume on U.S. exchanges was 9.33 billion shares, compared with the 12.92 billion average over the last 20 trading days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall Street Ends Lower Ahead of Economic Data, Earnings</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\">\nUS STOCKS-Wall Street Ends Lower Ahead of Economic Data, Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-07-12 04:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>Big bank earnings, CPI data expected later this week</li><li>U.S. casino operators fall as Macau shutters casinos</li><li>Market leading growth stocks drag down Nasdaq</li><li>Indexes down: Dow 0.52%, S&amp;P 1.15%, Nasdaq 2.26%</li></ul><p>(Reuters) - U.S. stocks lost ground on Monday as a lack of catalysts left market participants warily embarking on a week back-end loaded with crucial inflation data and the unofficial beginning to second-quarter earnings season.</p><p>Market leading growth stocks pulled all three major U.S. stock indexes into negative territory, with risk-off sentiment exacerbated by Macau&#39;s first casino shutdown in over two years to curb the spread of COVID-19.</p><p>&#34;It’s a nervous market,&#34; said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle. &#34;It’s all about the kick-off to earnings season and what inflation (data) tells us.&#34;</p><p>&#34;We know inflation is being driven by supply constraints, and China is an important factor,&#34; Haworth added. &#34;And (the Macau shutdown) threw a cold blanket on the market this morning.&#34;</p><p>Results from big banks, including JPMorgan Chase &amp; Co , $Citigroup Inc(C-N)$, and Wells Fargo &amp; Co, are expected to launch second-quarter reporting season later this week.</p><p>The S&amp;P 500 Banking index slid 1.0%.</p><p>Analysts expect steep plunges of year-on-year profits as the companies grow their loan loss reserves, fueling fears of impending recession.</p><p>Later in the week a raft of economic data - including consumer prices, retail sales and factory output - should provide a glimpse of the extent to which inflation has peaked and the economy has cooled down as the Federal Reserve moves closer to next week&#39;s policy meeting, which is expected to culminate in the second straight 75 basis point interest rate hike.</p><p>&#34;The market is trying to caution itself ahead of that (CPI) print,&#34; Haworth said. &#34;We’re hoping for a slowdown, which would put the Federal Reserve in a softer stance, but on the other hand, there are lots of reasons to believe inflation could stay high and the Fed will remain aggressive.&#34;</p><p>The market currently expects that the central bank will raise the Fed funds futures rate by 75 basis points in its latest salvo against red-hot inflation, a tactic which some fear could tip an already cooling economy into recession.</p><p>The Dow Jones Industrial Average fell 164.31 points, or 0.52%, to 31,173.84, the S&amp;P 500 lost 44.95 points, or 1.15%, to 3,854.43 and the Nasdaq Composite dropped 262.71 points, or 2.26%, to 11,372.60.</p><p>Of the 11 major sectors in the S&amp;P 500, communication services suffered the biggest percentage drop, while utilities led the gainers.</p><p>Before big banks launch second quarter earnings season in earnest on Thursday and Friday, PepsiCo and Delta Air Line results are expected Tuesday and Wednesday, respectively.</p><p>As of Friday, analysts saw aggregate annual S&amp;P earnings growth of 5.7% for the April to June period, down from the 6.8% forecast at the beginning of the quarter, according to Refinitiv.</p><p>Twitter Inc tumbled 11.3% in the wake of Elon Musk saying he is terminating his deal to buy the social media company.</p><p>Shares of U.S. casino operators Las Vegas Sands, Wynn Resorts and Melco Resorts fell between 6.3% and 9.6% after Macau shuttered all casinos to contain its worst COVID outbreak since the health crisis began.</p><p>The broader S&amp;P 1500 Hotel, Restaurant and Leisure index dipped 1.5%.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.41-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted two new 52-week highs and 30 new lows; the Nasdaq Composite recorded 20 new highs and 130 new lows.</p><p>Volume on U.S. exchanges was 9.33 billion shares, compared with the 12.92 billion average over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2250961053","content_text":"Big bank earnings, CPI data expected later this weekU.S. casino operators fall as Macau shutters casinosMarket leading growth stocks drag down NasdaqIndexes down: Dow 0.52%, S&P 1.15%, Nasdaq 2.26%(Reuters) - U.S. stocks lost ground on Monday as a lack of catalysts left market participants warily embarking on a week back-end loaded with crucial inflation data and the unofficial beginning to second-quarter earnings season.Market leading growth stocks pulled all three major U.S. stock indexes into negative territory, with risk-off sentiment exacerbated by Macau's first casino shutdown in over two years to curb the spread of COVID-19.\"It’s a nervous market,\" said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle. \"It’s all about the kick-off to earnings season and what inflation (data) tells us.\"\"We know inflation is being driven by supply constraints, and China is an important factor,\" Haworth added. \"And (the Macau shutdown) threw a cold blanket on the market this morning.\"Results from big banks, including JPMorgan Chase & Co , $Citigroup Inc(C-N)$, and Wells Fargo & Co, are expected to launch second-quarter reporting season later this week.The S&P 500 Banking index slid 1.0%.Analysts expect steep plunges of year-on-year profits as the companies grow their loan loss reserves, fueling fears of impending recession.Later in the week a raft of economic data - including consumer prices, retail sales and factory output - should provide a glimpse of the extent to which inflation has peaked and the economy has cooled down as the Federal Reserve moves closer to next week's policy meeting, which is expected to culminate in the second straight 75 basis point interest rate hike.\"The market is trying to caution itself ahead of that (CPI) print,\" Haworth said. \"We’re hoping for a slowdown, which would put the Federal Reserve in a softer stance, but on the other hand, there are lots of reasons to believe inflation could stay high and the Fed will remain aggressive.\"The market currently expects that the central bank will raise the Fed funds futures rate by 75 basis points in its latest salvo against red-hot inflation, a tactic which some fear could tip an already cooling economy into recession.The Dow Jones Industrial Average fell 164.31 points, or 0.52%, to 31,173.84, the S&P 500 lost 44.95 points, or 1.15%, to 3,854.43 and the Nasdaq Composite dropped 262.71 points, or 2.26%, to 11,372.60.Of the 11 major sectors in the S&P 500, communication services suffered the biggest percentage drop, while utilities led the gainers.Before big banks launch second quarter earnings season in earnest on Thursday and Friday, PepsiCo and Delta Air Line results are expected Tuesday and Wednesday, respectively.As of Friday, analysts saw aggregate annual S&P earnings growth of 5.7% for the April to June period, down from the 6.8% forecast at the beginning of the quarter, according to Refinitiv.Twitter Inc tumbled 11.3% in the wake of Elon Musk saying he is terminating his deal to buy the social media company.Shares of U.S. casino operators Las Vegas Sands, Wynn Resorts and Melco Resorts fell between 6.3% and 9.6% after Macau shuttered all casinos to contain its worst COVID outbreak since the health crisis began.The broader S&P 1500 Hotel, Restaurant and Leisure index dipped 1.5%.Declining issues outnumbered advancing ones on the NYSE by a 2.41-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored decliners.The S&P 500 posted two new 52-week highs and 30 new lows; the Nasdaq Composite recorded 20 new highs and 130 new lows.Volume on U.S. exchanges was 9.33 billion shares, compared with the 12.92 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":64,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9070660705,"gmtCreate":1657063148607,"gmtModify":1676535940137,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9070660705","repostId":"2249306814","repostType":4,"repost":{"id":"2249306814","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1657035601,"share":"https://ttm.financial/m/news/2249306814?lang=&edition=fundamental","pubTime":"2022-07-05 23:40","market":"us","language":"en","title":"Is the U.S. in a Recession? GDP is Not the Only Measure","url":"https://stock-news.laohu8.com/highlight/detail?id=2249306814","media":"Reuters","summary":"(Reuters) - By some early estimates, the U.S. economy, as measured by gross domestic product, may ha","content":"<html><head></head><body><p>(Reuters) - By some early estimates, the U.S. economy, as measured by gross domestic product, may have shrunk in the three months from April through June. Add that to the decline from January through March, and that would be a contraction for two quarters in a row.</p><p>By an often-cited rule of thumb, that means the world&#39;s largest economy is in recession.</p><p>But deciding when a recession has begun or predicting when one might occur is not straightforward. The &#34;two quarters&#34; definition is not how economists think about business cycles, because GDP is a broad measure that can be influenced by factors like government spending or international trade. Instead they focus on factors like jobs, industrial production, and incomes.</p><p>At issue now is personal consumption data for May, released last week, which showed spending and disposable income dropped on an inflation-adjusted basis. That sparked a host of gloomy forecasts for June, and increasing speculation that a downturn is coming soon, if it is not here already.</p><p>The weeks ahead are likely to include pitched debate about the real health of the economy. Whether the U.S. is headed for a recession or already in one is a growing concern for corporate chief executives and their employees, the Federal Reserve, and the administration of President Joe Biden.</p><h3>DOESN&#39;T FALLLING GDP = RECESSION?</h3><p>Not always. In 2001 gross domestic product, after revisions, fell in the first three months of the year, but then rebounded in the next three months to a level higher than it ended the year before. GDP declined again in the fall.</p><p>Even though there were not two consecutive quarters of declining GDP, the situation was dubbed a recession at the time, because employment and industrial production were falling.</p><p>The pandemic recession only lasted two months, from March to April 2020, even though the steep drop in economic activity over those weeks meant GDP shrank overall in both the first and second quarters of the year. In 2016 there was a noticeable drop in industrial activity that some dubbed a &#34;mini-recession,&#34; though GDP never declined.</p><h3>WHO DECIDES, AND HOW?</h3><p>In the United States the official call is made by a panel of economists convened by the National Bureau of Economic Research, and sometimes comes a year or more after the fact.</p><p>The private non-profit research group defines  &#39;s%20traditional%20definition,more%20than%20a%20few%20months recession as a &#34;significant decline in economic activity that is spread across the economy and that lasts more than a few months.&#34;</p><p>The panel concentrates on things like jobs and industrial output that are measured monthly, not quarterly like GDP. It examines the depth of any changes, how long declines seem to be lasting, and how broadly any trouble is spread.</p><p>There are tradeoffs.</p><p>In the pandemic, for example, the depth of the job loss, in excess of 20 million positions, offset the fact that growth resumed quickly, leading the group to officially call the situation a recession in early June, before the end of the second quarter.</p><p>While each of three criteria - depth, diffusion, and even duration — &#34;needs to be met individually to some degree, extreme conditions revealed by one criterion may partially offset weaker indications from another,&#34; the group says.</p><h3>SO ARE WE IN A RECESSION NOW?</h3><p>Almost certainly not. While the &#34;two quarter rule&#34; has caveats and exceptions, there has never been a recession declared without a loss of employment. Jobs are being added in the U.S. by hundreds of thousands monthly.</p><p>The pace will likely slow, but there would need to be a sharp reversal for the current path of job growth to turn into one that looks like recession.</p><p>Industrial production, another factor that figured prominently in declaring the 2001 recession, has also been rising steadily, at least through May.</p><h3>WHAT IS THE SAHM RULE?</h3><p>One criticism of the NBER&#39;s role as a recession arbiter is that its members take their time in order to avoid reacting to changes in jobs, production or other data that prove temporary. A closer to real-time recession indicator, called the Sahm rule after former Fed economist Claudia Sahm, is based on the unemployment rate  .</p><p>It states that when the 3-month rolling average of the unemployment rate rises a half a percentage point from its low over the prior 12 months, the economy has entered a recession.</p><p>The Sahm rule shows no sign of a U.S. downturn. Instead, the unemployment rate has been below 4% and falling or stable since January.</p><h3>WHY DOES THE R-WORD MATTER?</h3><p>Discussion of a recession, and predictions that the U.S. economy is headed into one, can have an impact on what happens next. CEOs, investors and everyday consumers make decisions on where and how to spend money based on how they think sales, profits and employment conditions will evolve.</p><p>Economist Robert Shiller predicted in June that there was a &#34;good chance&#34; the U.S. would experience a recession as a result of a &#34;self-fulfilling prophecy&#34; as consumers and companies prepare for the worst. &#34;The fear can lead to the actuality,&#34; he told Bloomberg.</p><h3>WHAT IS A &#39;SHALLOW RECESSION?&#39;</h3><p>Recessions come in many shapes. They can be deep but brief, like the pandemic recession which sent the unemployment rate briefly to 14.7%. They can be deep and scarring, like the Great Recession or the Depression in the 1930s, taking years for the job market to regain lost ground.</p><p>Economists and analysts have recently flagged the possibility that the next U.S. recession may be a mild one. Even the shortest and weakest recessions have trimmed payroll jobs by more than 1%, which would currently amount to more than a million and a half people.</p><h3>WHAT IS A GROWTH RECESSION?</h3><p>Another idea discussed by some economists and analysts is a &#34;growth recession,&#34; in which economic growth slows below the U.S. long-term growth trend of 1.5 to 2 percent annually, while unemployment increases but not by a lot. This is the scenario mapped out by some Fed policymakers as the best case outcome of recent interest rate increases.</p><h3>WHAT&#39;S THE INVERTED YIELD CURVE LINK?</h3><p>When the market rate for short-term borrowing exceeds that for a longer-term loan, it is known as an inverted yield curve, and seen as a harbinger of a recession.</p><p>Historically at least some part of the yield curve has inverted before every recent recession, and alarm bells started ringing when that happened on June 13.</p><p>Research from the Federal Reserve argues that the most widely followed yield-curve measure, the gap between yields on the two-year and the 10-year Treasury notes, doesn&#39;t actually predict much of anything; a better gauge is the gap between three-month and 18-month rates, which has not inverted.</p><h3>WHAT IS THE BEAR MARKET LINK TO RECESSION?</h3><p>The recent steep stock sell-off has also set off alarms. Nine of 12 bear markets, or drops of more than 20%, that have occurred since 1948 have been accompanied by recessions, according to investment research firm CFRA.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the U.S. in a Recession? GDP is Not the Only Measure</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\">\nIs the U.S. in a Recession? GDP is Not the Only Measure\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-07-05 23:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - By some early estimates, the U.S. economy, as measured by gross domestic product, may have shrunk in the three months from April through June. Add that to the decline from January through March, and that would be a contraction for two quarters in a row.</p><p>By an often-cited rule of thumb, that means the world&#39;s largest economy is in recession.</p><p>But deciding when a recession has begun or predicting when one might occur is not straightforward. The &#34;two quarters&#34; definition is not how economists think about business cycles, because GDP is a broad measure that can be influenced by factors like government spending or international trade. Instead they focus on factors like jobs, industrial production, and incomes.</p><p>At issue now is personal consumption data for May, released last week, which showed spending and disposable income dropped on an inflation-adjusted basis. That sparked a host of gloomy forecasts for June, and increasing speculation that a downturn is coming soon, if it is not here already.</p><p>The weeks ahead are likely to include pitched debate about the real health of the economy. Whether the U.S. is headed for a recession or already in one is a growing concern for corporate chief executives and their employees, the Federal Reserve, and the administration of President Joe Biden.</p><h3>DOESN&#39;T FALLLING GDP = RECESSION?</h3><p>Not always. In 2001 gross domestic product, after revisions, fell in the first three months of the year, but then rebounded in the next three months to a level higher than it ended the year before. GDP declined again in the fall.</p><p>Even though there were not two consecutive quarters of declining GDP, the situation was dubbed a recession at the time, because employment and industrial production were falling.</p><p>The pandemic recession only lasted two months, from March to April 2020, even though the steep drop in economic activity over those weeks meant GDP shrank overall in both the first and second quarters of the year. In 2016 there was a noticeable drop in industrial activity that some dubbed a &#34;mini-recession,&#34; though GDP never declined.</p><h3>WHO DECIDES, AND HOW?</h3><p>In the United States the official call is made by a panel of economists convened by the National Bureau of Economic Research, and sometimes comes a year or more after the fact.</p><p>The private non-profit research group defines  &#39;s%20traditional%20definition,more%20than%20a%20few%20months recession as a &#34;significant decline in economic activity that is spread across the economy and that lasts more than a few months.&#34;</p><p>The panel concentrates on things like jobs and industrial output that are measured monthly, not quarterly like GDP. It examines the depth of any changes, how long declines seem to be lasting, and how broadly any trouble is spread.</p><p>There are tradeoffs.</p><p>In the pandemic, for example, the depth of the job loss, in excess of 20 million positions, offset the fact that growth resumed quickly, leading the group to officially call the situation a recession in early June, before the end of the second quarter.</p><p>While each of three criteria - depth, diffusion, and even duration — &#34;needs to be met individually to some degree, extreme conditions revealed by one criterion may partially offset weaker indications from another,&#34; the group says.</p><h3>SO ARE WE IN A RECESSION NOW?</h3><p>Almost certainly not. While the &#34;two quarter rule&#34; has caveats and exceptions, there has never been a recession declared without a loss of employment. Jobs are being added in the U.S. by hundreds of thousands monthly.</p><p>The pace will likely slow, but there would need to be a sharp reversal for the current path of job growth to turn into one that looks like recession.</p><p>Industrial production, another factor that figured prominently in declaring the 2001 recession, has also been rising steadily, at least through May.</p><h3>WHAT IS THE SAHM RULE?</h3><p>One criticism of the NBER&#39;s role as a recession arbiter is that its members take their time in order to avoid reacting to changes in jobs, production or other data that prove temporary. A closer to real-time recession indicator, called the Sahm rule after former Fed economist Claudia Sahm, is based on the unemployment rate  .</p><p>It states that when the 3-month rolling average of the unemployment rate rises a half a percentage point from its low over the prior 12 months, the economy has entered a recession.</p><p>The Sahm rule shows no sign of a U.S. downturn. Instead, the unemployment rate has been below 4% and falling or stable since January.</p><h3>WHY DOES THE R-WORD MATTER?</h3><p>Discussion of a recession, and predictions that the U.S. economy is headed into one, can have an impact on what happens next. CEOs, investors and everyday consumers make decisions on where and how to spend money based on how they think sales, profits and employment conditions will evolve.</p><p>Economist Robert Shiller predicted in June that there was a &#34;good chance&#34; the U.S. would experience a recession as a result of a &#34;self-fulfilling prophecy&#34; as consumers and companies prepare for the worst. &#34;The fear can lead to the actuality,&#34; he told Bloomberg.</p><h3>WHAT IS A &#39;SHALLOW RECESSION?&#39;</h3><p>Recessions come in many shapes. They can be deep but brief, like the pandemic recession which sent the unemployment rate briefly to 14.7%. They can be deep and scarring, like the Great Recession or the Depression in the 1930s, taking years for the job market to regain lost ground.</p><p>Economists and analysts have recently flagged the possibility that the next U.S. recession may be a mild one. Even the shortest and weakest recessions have trimmed payroll jobs by more than 1%, which would currently amount to more than a million and a half people.</p><h3>WHAT IS A GROWTH RECESSION?</h3><p>Another idea discussed by some economists and analysts is a &#34;growth recession,&#34; in which economic growth slows below the U.S. long-term growth trend of 1.5 to 2 percent annually, while unemployment increases but not by a lot. This is the scenario mapped out by some Fed policymakers as the best case outcome of recent interest rate increases.</p><h3>WHAT&#39;S THE INVERTED YIELD CURVE LINK?</h3><p>When the market rate for short-term borrowing exceeds that for a longer-term loan, it is known as an inverted yield curve, and seen as a harbinger of a recession.</p><p>Historically at least some part of the yield curve has inverted before every recent recession, and alarm bells started ringing when that happened on June 13.</p><p>Research from the Federal Reserve argues that the most widely followed yield-curve measure, the gap between yields on the two-year and the 10-year Treasury notes, doesn&#39;t actually predict much of anything; a better gauge is the gap between three-month and 18-month rates, which has not inverted.</p><h3>WHAT IS THE BEAR MARKET LINK TO RECESSION?</h3><p>The recent steep stock sell-off has also set off alarms. Nine of 12 bear markets, or drops of more than 20%, that have occurred since 1948 have been accompanied by recessions, according to investment research firm CFRA.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2249306814","content_text":"(Reuters) - By some early estimates, the U.S. economy, as measured by gross domestic product, may have shrunk in the three months from April through June. Add that to the decline from January through March, and that would be a contraction for two quarters in a row.By an often-cited rule of thumb, that means the world's largest economy is in recession.But deciding when a recession has begun or predicting when one might occur is not straightforward. The \"two quarters\" definition is not how economists think about business cycles, because GDP is a broad measure that can be influenced by factors like government spending or international trade. Instead they focus on factors like jobs, industrial production, and incomes.At issue now is personal consumption data for May, released last week, which showed spending and disposable income dropped on an inflation-adjusted basis. That sparked a host of gloomy forecasts for June, and increasing speculation that a downturn is coming soon, if it is not here already.The weeks ahead are likely to include pitched debate about the real health of the economy. Whether the U.S. is headed for a recession or already in one is a growing concern for corporate chief executives and their employees, the Federal Reserve, and the administration of President Joe Biden.DOESN'T FALLLING GDP = RECESSION?Not always. In 2001 gross domestic product, after revisions, fell in the first three months of the year, but then rebounded in the next three months to a level higher than it ended the year before. GDP declined again in the fall.Even though there were not two consecutive quarters of declining GDP, the situation was dubbed a recession at the time, because employment and industrial production were falling.The pandemic recession only lasted two months, from March to April 2020, even though the steep drop in economic activity over those weeks meant GDP shrank overall in both the first and second quarters of the year. In 2016 there was a noticeable drop in industrial activity that some dubbed a \"mini-recession,\" though GDP never declined.WHO DECIDES, AND HOW?In the United States the official call is made by a panel of economists convened by the National Bureau of Economic Research, and sometimes comes a year or more after the fact.The private non-profit research group defines  's%20traditional%20definition,more%20than%20a%20few%20months recession as a \"significant decline in economic activity that is spread across the economy and that lasts more than a few months.\"The panel concentrates on things like jobs and industrial output that are measured monthly, not quarterly like GDP. It examines the depth of any changes, how long declines seem to be lasting, and how broadly any trouble is spread.There are tradeoffs.In the pandemic, for example, the depth of the job loss, in excess of 20 million positions, offset the fact that growth resumed quickly, leading the group to officially call the situation a recession in early June, before the end of the second quarter.While each of three criteria - depth, diffusion, and even duration — \"needs to be met individually to some degree, extreme conditions revealed by one criterion may partially offset weaker indications from another,\" the group says.SO ARE WE IN A RECESSION NOW?Almost certainly not. While the \"two quarter rule\" has caveats and exceptions, there has never been a recession declared without a loss of employment. Jobs are being added in the U.S. by hundreds of thousands monthly.The pace will likely slow, but there would need to be a sharp reversal for the current path of job growth to turn into one that looks like recession.Industrial production, another factor that figured prominently in declaring the 2001 recession, has also been rising steadily, at least through May.WHAT IS THE SAHM RULE?One criticism of the NBER's role as a recession arbiter is that its members take their time in order to avoid reacting to changes in jobs, production or other data that prove temporary. A closer to real-time recession indicator, called the Sahm rule after former Fed economist Claudia Sahm, is based on the unemployment rate  .It states that when the 3-month rolling average of the unemployment rate rises a half a percentage point from its low over the prior 12 months, the economy has entered a recession.The Sahm rule shows no sign of a U.S. downturn. Instead, the unemployment rate has been below 4% and falling or stable since January.WHY DOES THE R-WORD MATTER?Discussion of a recession, and predictions that the U.S. economy is headed into one, can have an impact on what happens next. CEOs, investors and everyday consumers make decisions on where and how to spend money based on how they think sales, profits and employment conditions will evolve.Economist Robert Shiller predicted in June that there was a \"good chance\" the U.S. would experience a recession as a result of a \"self-fulfilling prophecy\" as consumers and companies prepare for the worst. \"The fear can lead to the actuality,\" he told Bloomberg.WHAT IS A 'SHALLOW RECESSION?'Recessions come in many shapes. They can be deep but brief, like the pandemic recession which sent the unemployment rate briefly to 14.7%. They can be deep and scarring, like the Great Recession or the Depression in the 1930s, taking years for the job market to regain lost ground.Economists and analysts have recently flagged the possibility that the next U.S. recession may be a mild one. Even the shortest and weakest recessions have trimmed payroll jobs by more than 1%, which would currently amount to more than a million and a half people.WHAT IS A GROWTH RECESSION?Another idea discussed by some economists and analysts is a \"growth recession,\" in which economic growth slows below the U.S. long-term growth trend of 1.5 to 2 percent annually, while unemployment increases but not by a lot. This is the scenario mapped out by some Fed policymakers as the best case outcome of recent interest rate increases.WHAT'S THE INVERTED YIELD CURVE LINK?When the market rate for short-term borrowing exceeds that for a longer-term loan, it is known as an inverted yield curve, and seen as a harbinger of a recession.Historically at least some part of the yield curve has inverted before every recent recession, and alarm bells started ringing when that happened on June 13.Research from the Federal Reserve argues that the most widely followed yield-curve measure, the gap between yields on the two-year and the 10-year Treasury notes, doesn't actually predict much of anything; a better gauge is the gap between three-month and 18-month rates, which has not inverted.WHAT IS THE BEAR MARKET LINK TO RECESSION?The recent steep stock sell-off has also set off alarms. Nine of 12 bear markets, or drops of more than 20%, that have occurred since 1948 have been accompanied by recessions, according to investment research firm CFRA.","news_type":1},"isVote":1,"tweetType":1,"viewCount":181,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9019203588,"gmtCreate":1648599022306,"gmtModify":1676534360486,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/EVS.SI\">$NikkoAM-STC CN EV S$(EVS.SI)$</a>EV stocks ETF","listText":"<a href=\"https://ttm.financial/S/EVS.SI\">$NikkoAM-STC CN EV S$(EVS.SI)$</a>EV stocks ETF","text":"$NikkoAM-STC CN EV S$(EVS.SI)$EV stocks ETF","images":[{"img":"https://community-static.tradeup.com/news/01a1de5ae560b7537a3d7b104cda137d","width":"1080","height":"3876"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9019203588","isVote":1,"tweetType":1,"viewCount":150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":883746018,"gmtCreate":1631277069034,"gmtModify":1676530516446,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Super","listText":"Super","text":"Super","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/883746018","repostId":"1160544799","repostType":4,"repost":{"id":"1160544799","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":1631275849,"share":"https://ttm.financial/m/news/1160544799?lang=&edition=fundamental","pubTime":"2021-09-10 20:10","market":"us","language":"en","title":"Toplines Before US Market Open on Friday","url":"https://stock-news.laohu8.com/highlight/detail?id=1160544799","media":"Tiger Newspress","summary":"Stock Futures Rise; Metals Rally.\nThe 10-year Treasury yield rose 3bps to 1.320%.\noil was back over ","content":"<ul>\n <li>Stock Futures Rise;&nbsp;Metals Rally.</li>\n <li>The 10-year Treasury yield rose 3bps to 1.320%.</li>\n <li>oil was back over $69 a barrel and gold gained.</li>\n</ul>\n<p>(Sept 10)&nbsp;Stock futures rose sharply on Friday, suggesting Wall Street was prepared to set aside jitters thatculminated in a four-day losing streak, with investors growing more cautious about the COVID-19 pandemic's impact on the economy.</p>\n<p>At 8:13 a.m. ET, Dow E-minis were up 173 points, or 0.50%, S&amp;P 500 E-minis gained 20.75 points, or 0.46% and Nasdaq 100 E-minis jumped 77.75 points, or 0.50%.</p>\n<p><img src=\"https://static.tigerbbs.com/7e6c76200a1c8e7b9888b48085a9cefa\" tg-width=\"1242\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Here are some of the biggest US pre-movers today:</b></p>\n<ul>\n <li>Affirm Holdings (AFRM) shares rally 24% in&nbsp;premarket&nbsp;trading after its 4Q revenue topped estimates, prompting Truist to hike its PT on the stock.</li>\n <li>Iveric Bio (ISEE), a company working on geographic atrophy treatment, surges 34% after Apellis Pharmaceuticals (APLS) said only one of two late-stage studies of its product candidate pegcetacoplan met its main goal. Apellis slumps 30%.</li>\n <li>Sumo Logic (SUMO) sinks 11% as Piper Sandler downgrades the stock to neutral after reporting second-quarter results.</li>\n</ul>\n<p><b>In FX, </b>dollar trades on the back foot with Bloomberg dollar index down 0.2%. Commodity currencies extend Asia’s outperforming versus G-10 peers. The Bloomberg dollar Spot Index fell as the greenback traded lower against almost all of its Group-of-10 peers. The Treasury curve remains close to the flattest level in a year, signaling the market’s concern a hawkish Federal Reserve will derail growth in the world’s largest economy. The euro inched up amid a broadly weaker dollar, to trade at around $1.1850.<b>The pound brushed off the latest GDP data which showed the U.K. economy barely grew in July.</b>The Australian and New Zealand dollars were among the top G-10 performers as U.S.-China talks spurred hopes of improved relations between the two nations. The yen underperformed all of its Group-of-10 peers, while Norway’s krone gained amid a rally in oil and other commodities.</p>\n<p><b>In rates, </b>Treasuries were off session lows as U.S. trading begins, although under pressure with the curve steeper following gains for risky assets during Asia session and European morning. Yields were higher by 2bp-3bp from 10-year to long end, 10-year by 2.4bp at ~1.32%, wider vs bunds and gilts by 0.8bp and 1.5bp; on curve, 2s10s, 5s30s spreads wider by 2bp and 1bp respectively. The bear-steepening move pushed 30-year yields back toward Thursday’s pre-auction level. Treasuries traded heavy in Asia as local stocks closed higher following a telephone call between U.S. President Joe Biden and Chinese leader Xi Jinping.&nbsp; Among European markets, Germany’s benchmark 10-year government bond yield was flat after the ECB move, but Greek yields fell for the second day as markets continued to view the bank’s cautious approach as a positive. Peripheral spreads widened slightly, with 10y BTP/Bund spread near 104bps.</p>\n<p><b>In commodities, </b>oil gained ground on signs of tight U.S. supplies after Hurricane Ida hit offshore output, with Brent crude up 1.7% at $72.67 a barrel, and U.S. West Texas Intermediate crude at $69.29 a barrel, up 1.7%. Base metals extend the week’s gains: LME aluminum outperforms, adding a further 2%, gaining over 6% since Monday. Spot gold extends Asia’s modest gains to trade either side of $1,800/oz.</p>\n<p>To the day ahead now, and the main data highlight will be the producer price inflation release from the US, whilst from Europe, there’s July data on UK GDP and French and Italian industrial production. From central banks, we’ll hear from ECB President Lagarde, along with the ECB’s Villeroy, Elderson, Rehn, as well as the Fed’s Mester. Lastly, the Central Bank of Russia will be making their latest monetary policy decision.</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 Friday</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 Friday\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\">2021-09-10 20:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Stock Futures Rise;&nbsp;Metals Rally.</li>\n <li>The 10-year Treasury yield rose 3bps to 1.320%.</li>\n <li>oil was back over $69 a barrel and gold gained.</li>\n</ul>\n<p>(Sept 10)&nbsp;Stock futures rose sharply on Friday, suggesting Wall Street was prepared to set aside jitters thatculminated in a four-day losing streak, with investors growing more cautious about the COVID-19 pandemic's impact on the economy.</p>\n<p>At 8:13 a.m. ET, Dow E-minis were up 173 points, or 0.50%, S&amp;P 500 E-minis gained 20.75 points, or 0.46% and Nasdaq 100 E-minis jumped 77.75 points, or 0.50%.</p>\n<p><img src=\"https://static.tigerbbs.com/7e6c76200a1c8e7b9888b48085a9cefa\" tg-width=\"1242\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Here are some of the biggest US pre-movers today:</b></p>\n<ul>\n <li>Affirm Holdings (AFRM) shares rally 24% in&nbsp;premarket&nbsp;trading after its 4Q revenue topped estimates, prompting Truist to hike its PT on the stock.</li>\n <li>Iveric Bio (ISEE), a company working on geographic atrophy treatment, surges 34% after Apellis Pharmaceuticals (APLS) said only one of two late-stage studies of its product candidate pegcetacoplan met its main goal. Apellis slumps 30%.</li>\n <li>Sumo Logic (SUMO) sinks 11% as Piper Sandler downgrades the stock to neutral after reporting second-quarter results.</li>\n</ul>\n<p><b>In FX, </b>dollar trades on the back foot with Bloomberg dollar index down 0.2%. Commodity currencies extend Asia’s outperforming versus G-10 peers. The Bloomberg dollar Spot Index fell as the greenback traded lower against almost all of its Group-of-10 peers. The Treasury curve remains close to the flattest level in a year, signaling the market’s concern a hawkish Federal Reserve will derail growth in the world’s largest economy. The euro inched up amid a broadly weaker dollar, to trade at around $1.1850.<b>The pound brushed off the latest GDP data which showed the U.K. economy barely grew in July.</b>The Australian and New Zealand dollars were among the top G-10 performers as U.S.-China talks spurred hopes of improved relations between the two nations. The yen underperformed all of its Group-of-10 peers, while Norway’s krone gained amid a rally in oil and other commodities.</p>\n<p><b>In rates, </b>Treasuries were off session lows as U.S. trading begins, although under pressure with the curve steeper following gains for risky assets during Asia session and European morning. Yields were higher by 2bp-3bp from 10-year to long end, 10-year by 2.4bp at ~1.32%, wider vs bunds and gilts by 0.8bp and 1.5bp; on curve, 2s10s, 5s30s spreads wider by 2bp and 1bp respectively. The bear-steepening move pushed 30-year yields back toward Thursday’s pre-auction level. Treasuries traded heavy in Asia as local stocks closed higher following a telephone call between U.S. President Joe Biden and Chinese leader Xi Jinping.&nbsp; Among European markets, Germany’s benchmark 10-year government bond yield was flat after the ECB move, but Greek yields fell for the second day as markets continued to view the bank’s cautious approach as a positive. Peripheral spreads widened slightly, with 10y BTP/Bund spread near 104bps.</p>\n<p><b>In commodities, </b>oil gained ground on signs of tight U.S. supplies after Hurricane Ida hit offshore output, with Brent crude up 1.7% at $72.67 a barrel, and U.S. West Texas Intermediate crude at $69.29 a barrel, up 1.7%. Base metals extend the week’s gains: LME aluminum outperforms, adding a further 2%, gaining over 6% since Monday. Spot gold extends Asia’s modest gains to trade either side of $1,800/oz.</p>\n<p>To the day ahead now, and the main data highlight will be the producer price inflation release from the US, whilst from Europe, there’s July data on UK GDP and French and Italian industrial production. From central banks, we’ll hear from ECB President Lagarde, along with the ECB’s Villeroy, Elderson, Rehn, as well as the Fed’s Mester. Lastly, the Central Bank of Russia will be making their latest monetary policy decision.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160544799","content_text":"Stock Futures Rise; Metals Rally.\nThe 10-year Treasury yield rose 3bps to 1.320%.\noil was back over $69 a barrel and gold gained.\n\n(Sept 10) Stock futures rose sharply on Friday, suggesting Wall Street was prepared to set aside jitters thatculminated in a four-day losing streak, with investors growing more cautious about the COVID-19 pandemic's impact on the economy.\nAt 8:13 a.m. ET, Dow E-minis were up 173 points, or 0.50%, S&P 500 E-minis gained 20.75 points, or 0.46% and Nasdaq 100 E-minis jumped 77.75 points, or 0.50%.\n\nHere are some of the biggest US pre-movers today:\n\nAffirm Holdings (AFRM) shares rally 24% in premarket trading after its 4Q revenue topped estimates, prompting Truist to hike its PT on the stock.\nIveric Bio (ISEE), a company working on geographic atrophy treatment, surges 34% after Apellis Pharmaceuticals (APLS) said only one of two late-stage studies of its product candidate pegcetacoplan met its main goal. Apellis slumps 30%.\nSumo Logic (SUMO) sinks 11% as Piper Sandler downgrades the stock to neutral after reporting second-quarter results.\n\nIn FX, dollar trades on the back foot with Bloomberg dollar index down 0.2%. Commodity currencies extend Asia’s outperforming versus G-10 peers. The Bloomberg dollar Spot Index fell as the greenback traded lower against almost all of its Group-of-10 peers. The Treasury curve remains close to the flattest level in a year, signaling the market’s concern a hawkish Federal Reserve will derail growth in the world’s largest economy. The euro inched up amid a broadly weaker dollar, to trade at around $1.1850.The pound brushed off the latest GDP data which showed the U.K. economy barely grew in July.The Australian and New Zealand dollars were among the top G-10 performers as U.S.-China talks spurred hopes of improved relations between the two nations. The yen underperformed all of its Group-of-10 peers, while Norway’s krone gained amid a rally in oil and other commodities.\nIn rates, Treasuries were off session lows as U.S. trading begins, although under pressure with the curve steeper following gains for risky assets during Asia session and European morning. Yields were higher by 2bp-3bp from 10-year to long end, 10-year by 2.4bp at ~1.32%, wider vs bunds and gilts by 0.8bp and 1.5bp; on curve, 2s10s, 5s30s spreads wider by 2bp and 1bp respectively. The bear-steepening move pushed 30-year yields back toward Thursday’s pre-auction level. Treasuries traded heavy in Asia as local stocks closed higher following a telephone call between U.S. President Joe Biden and Chinese leader Xi Jinping.  Among European markets, Germany’s benchmark 10-year government bond yield was flat after the ECB move, but Greek yields fell for the second day as markets continued to view the bank’s cautious approach as a positive. Peripheral spreads widened slightly, with 10y BTP/Bund spread near 104bps.\nIn commodities, oil gained ground on signs of tight U.S. supplies after Hurricane Ida hit offshore output, with Brent crude up 1.7% at $72.67 a barrel, and U.S. West Texas Intermediate crude at $69.29 a barrel, up 1.7%. Base metals extend the week’s gains: LME aluminum outperforms, adding a further 2%, gaining over 6% since Monday. Spot gold extends Asia’s modest gains to trade either side of $1,800/oz.\nTo the day ahead now, and the main data highlight will be the producer price inflation release from the US, whilst from Europe, there’s July data on UK GDP and French and Italian industrial production. From central banks, we’ll hear from ECB President Lagarde, along with the ECB’s Villeroy, Elderson, Rehn, as well as the Fed’s Mester. Lastly, the Central Bank of Russia will be making their latest monetary policy decision.","news_type":1},"isVote":1,"tweetType":1,"viewCount":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9078608520,"gmtCreate":1657674382560,"gmtModify":1676536043817,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Okay&nbsp;","listText":"Okay&nbsp;","text":"Okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9078608520","repostId":"1182462687","repostType":4,"repost":{"id":"1182462687","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":1657673590,"share":"https://ttm.financial/m/news/1182462687?lang=&edition=fundamental","pubTime":"2022-07-13 08:53","market":"sg","language":"en","title":"Singapore Stocks To Watch: Keppel, Keppel Infra Trust, ISDN","url":"https://stock-news.laohu8.com/highlight/detail?id=1182462687","media":"Tiger Newspress","summary":"THE following companies saw new developments that may affect trading of their securities on Wednesda","content":"<html><head></head><body><p>THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 13):</p><p><a href=\"https://laohu8.com/S/BN4.SI\">Keppel</a>, <a href=\"https://laohu8.com/S/A7RU.SI\">Keppel Infrastructure Trust</a>: Keppel Corporation And Keppel Infrastructure Trust To Jointly Invest In European Onshore Wind Energy Portfolio. Fundco Will Initially Co-Invest In 49% Of Three Operating Wind Farms In Sweden And Norway. Keppel Corp, Keppel Infrastructure Fund Management Committing Eur 160 Million For 33.3% Stake In Joint Investment Vehicle.Foras Will Hold Remaining 51% Stake In Projects.</p><p>Proposed Co-Investment In Initial Portfolio Is Expected To Be Completed By 3Q2022.Purchase Consideration For 49% Of Initial Portfolio Is Approximately Eur 176 Million.Transaction Is Expected To Support Kit&#39;S Overall Distributable Income Per Unit Accretion. Fundco Will Further Have A 5-Year Exclusive Right And Obligation To Co-Invest In 49% Of All Foras&#39; Eligible Pipeline.</p><p><a href=\"https://laohu8.com/S/I07.SI\">ISDN</a>: ISDN Holdings will withdraw the scrip dividend scheme for FY2021 and distribute the proposed dividend of S$0.0145 fully in cash instead, given that the issue price of the scrip dividend is lower than the counter’s market price.</p><p>The engineering company, in its statement filed after the market close on Tuesday (Jul 12), said that the issue price of each new share under the scrip dividend scheme is S$0.501, an amount that should not be set at more than 10 per cent discount or exceed the average of the last prices on each of the 5 trading days prior to and ending on the record date of Jul 7.</p><p>However, its last trading price for each of the 5 trading days to Jul 7 averaged only S$0.467 — lower than the issue price of the scrip dividend.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Stocks To Watch: Keppel, Keppel Infra Trust, ISDN</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Stocks To Watch: Keppel, Keppel Infra Trust, ISDN\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\">2022-07-13 08:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 13):</p><p><a href=\"https://laohu8.com/S/BN4.SI\">Keppel</a>, <a href=\"https://laohu8.com/S/A7RU.SI\">Keppel Infrastructure Trust</a>: Keppel Corporation And Keppel Infrastructure Trust To Jointly Invest In European Onshore Wind Energy Portfolio. Fundco Will Initially Co-Invest In 49% Of Three Operating Wind Farms In Sweden And Norway. Keppel Corp, Keppel Infrastructure Fund Management Committing Eur 160 Million For 33.3% Stake In Joint Investment Vehicle.Foras Will Hold Remaining 51% Stake In Projects.</p><p>Proposed Co-Investment In Initial Portfolio Is Expected To Be Completed By 3Q2022.Purchase Consideration For 49% Of Initial Portfolio Is Approximately Eur 176 Million.Transaction Is Expected To Support Kit&#39;S Overall Distributable Income Per Unit Accretion. Fundco Will Further Have A 5-Year Exclusive Right And Obligation To Co-Invest In 49% Of All Foras&#39; Eligible Pipeline.</p><p><a href=\"https://laohu8.com/S/I07.SI\">ISDN</a>: ISDN Holdings will withdraw the scrip dividend scheme for FY2021 and distribute the proposed dividend of S$0.0145 fully in cash instead, given that the issue price of the scrip dividend is lower than the counter’s market price.</p><p>The engineering company, in its statement filed after the market close on Tuesday (Jul 12), said that the issue price of each new share under the scrip dividend scheme is S$0.501, an amount that should not be set at more than 10 per cent discount or exceed the average of the last prices on each of the 5 trading days prior to and ending on the record date of Jul 7.</p><p>However, its last trading price for each of the 5 trading days to Jul 7 averaged only S$0.467 — lower than the issue price of the scrip dividend.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"I07.SI":"亿仕登","A7RU.SI":"吉宝基础设施信托","BN4.SI":"吉宝有限公司"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182462687","content_text":"THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 13):Keppel, Keppel Infrastructure Trust: Keppel Corporation And Keppel Infrastructure Trust To Jointly Invest In European Onshore Wind Energy Portfolio. Fundco Will Initially Co-Invest In 49% Of Three Operating Wind Farms In Sweden And Norway. Keppel Corp, Keppel Infrastructure Fund Management Committing Eur 160 Million For 33.3% Stake In Joint Investment Vehicle.Foras Will Hold Remaining 51% Stake In Projects.Proposed Co-Investment In Initial Portfolio Is Expected To Be Completed By 3Q2022.Purchase Consideration For 49% Of Initial Portfolio Is Approximately Eur 176 Million.Transaction Is Expected To Support Kit'S Overall Distributable Income Per Unit Accretion. Fundco Will Further Have A 5-Year Exclusive Right And Obligation To Co-Invest In 49% Of All Foras' Eligible Pipeline.ISDN: ISDN Holdings will withdraw the scrip dividend scheme for FY2021 and distribute the proposed dividend of S$0.0145 fully in cash instead, given that the issue price of the scrip dividend is lower than the counter’s market price.The engineering company, in its statement filed after the market close on Tuesday (Jul 12), said that the issue price of each new share under the scrip dividend scheme is S$0.501, an amount that should not be set at more than 10 per cent discount or exceed the average of the last prices on each of the 5 trading days prior to and ending on the record date of Jul 7.However, its last trading price for each of the 5 trading days to Jul 7 averaged only S$0.467 — lower than the issue price of the scrip dividend.","news_type":1},"isVote":1,"tweetType":1,"viewCount":84,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9070660297,"gmtCreate":1657063130219,"gmtModify":1676535940129,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9070660297","repostId":"2249535678","repostType":4,"repost":{"id":"2249535678","pubTimestamp":1657062698,"share":"https://ttm.financial/m/news/2249535678?lang=&edition=fundamental","pubTime":"2022-07-06 07:11","market":"us","language":"en","title":"Why Faraday Future Stock Rocketed 50% Today","url":"https://stock-news.laohu8.com/highlight/detail?id=2249535678","media":"Motley Fool","summary":"Meet the new meme stock.","content":"<html><head></head><body><h2>What happened</h2><p>Shares of California-based electric vehicle (EV) company <b><a href=\"https://laohu8.com/S/FFIE\">Faraday Future</a> Intelligent Electric</b> soared 48.73% today. The stock has experienced a parabolic rise over the past week. It has soared 150% in just the last five trading days.</p><p><img src=\"https://static.tigerbbs.com/f707094785fb93a34f7ff79d2d749229\" tg-width=\"433\" tg-height=\"69\" width=\"100%\" height=\"auto\"/></p><h2>So what</h2><p>The problem is that there hasn&#39;t been any news out of the company. It remains on pace to begin production of its FF91 electric car in the third quarter of 2022. But its finances are on shaky ground. Faraday Future lost $149 million in the first quarter and only held $276 million in cash as of March 31, 2022. It seems the stock has become the latest meme stock, with retail investors trying to force a short squeeze. As of mid-June, more than 25% of its public float was held short, according to <i>MarketWatch</i>.</p><p><img src=\"https://static.tigerbbs.com/3a7b68551098f3c3eb07f5dc3a7bc60c\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Faraday&#39;s FF91 EV is expected to launch in the third quarter of 2022.</p><h2>Now what</h2><p>Prior to the past week&#39;s move, Faraday stock had lost 82% in 2022. A bankruptcy filing by fellow EV start-up <b>Electric Last Mile Solutions</b> in early June also has investors questioning whether some EV hopefuls will even survive. That likely helps explain the high short interest in Faraday.</p><p>But that&#39;s prime hunting ground for the online retail crowd that drove stocks like <b>GameStop</b> and <b>AMC Entertainment</b> to unreasonable levels early last year. Meme stock investors hope to cash in on a massive short squeeze with stocks that have a high percentage of shares sold short.</p><p>But investors should beware when the underlying business fundamentals don&#39;t justify the valuation. GameStop and AMC shares are down 40% and 75%, respectively, over the past year. If Faraday doesn&#39;t have a successful and timely launch of its first EV, similar results can likely be expected.</p></body></html>","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>Why Faraday Future Stock Rocketed 50% Today</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Faraday Future Stock Rocketed 50% Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-06 07:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/07/05/why-faraday-future-stock-rocketed-50-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happenedShares of California-based electric vehicle (EV) company Faraday Future Intelligent Electric soared 48.73% today. The stock has experienced a parabolic rise over the past week. It has ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/07/05/why-faraday-future-stock-rocketed-50-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FFIE":"Faraday Future"},"source_url":"https://www.fool.com/investing/2022/07/05/why-faraday-future-stock-rocketed-50-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2249535678","content_text":"What happenedShares of California-based electric vehicle (EV) company Faraday Future Intelligent Electric soared 48.73% today. The stock has experienced a parabolic rise over the past week. It has soared 150% in just the last five trading days.So whatThe problem is that there hasn't been any news out of the company. It remains on pace to begin production of its FF91 electric car in the third quarter of 2022. But its finances are on shaky ground. Faraday Future lost $149 million in the first quarter and only held $276 million in cash as of March 31, 2022. It seems the stock has become the latest meme stock, with retail investors trying to force a short squeeze. As of mid-June, more than 25% of its public float was held short, according to MarketWatch.Faraday's FF91 EV is expected to launch in the third quarter of 2022.Now whatPrior to the past week's move, Faraday stock had lost 82% in 2022. A bankruptcy filing by fellow EV start-up Electric Last Mile Solutions in early June also has investors questioning whether some EV hopefuls will even survive. That likely helps explain the high short interest in Faraday.But that's prime hunting ground for the online retail crowd that drove stocks like GameStop and AMC Entertainment to unreasonable levels early last year. Meme stock investors hope to cash in on a massive short squeeze with stocks that have a high percentage of shares sold short.But investors should beware when the underlying business fundamentals don't justify the valuation. GameStop and AMC shares are down 40% and 75%, respectively, over the past year. If Faraday doesn't have a successful and timely launch of its first EV, similar results can likely be expected.","news_type":1},"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045907303,"gmtCreate":1656549191002,"gmtModify":1676535850762,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045907303","repostId":"1121505043","repostType":4,"repost":{"id":"1121505043","pubTimestamp":1656561665,"share":"https://ttm.financial/m/news/1121505043?lang=&edition=fundamental","pubTime":"2022-06-30 12:01","market":"us","language":"en","title":"NIO: Questions And Challenges To The Grizzly Short-Seller Report","url":"https://stock-news.laohu8.com/highlight/detail?id=1121505043","media":"seekingalpha","summary":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is f","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Short-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.</li><li>The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.</li><li>The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly&#39;s claims of financial manipulation at NIO.</li><li>However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO&#39;s BaaS operations.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/346379c1e5a1a4087e614ef0b8a18caa\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"/><span>Drew Angerer/Getty Images News</span></p><p>Grizzly Research (&#34;Grizzly&#34;) has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.</p><p>While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.</p><p><b>Accounting Crash Course: NIO’s BaaS Revenue Recognition Method</b></p><p>Through publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.</p><p>In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.</p><p>Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.</p><p>Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b533b2a1e657134b3b33f231c2b11f74\" tg-width=\"640\" tg-height=\"292\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Related Party Disclosures (IAS)</span></p><p>Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d726db76c4884663e28c157208e5cd77\" tg-width=\"640\" tg-height=\"150\" referrerpolicy=\"no-referrer\"/><span>NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)</span></p><p>In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4bf30456c1ff78b902edfa34d719f150\" tg-width=\"598\" tg-height=\"175\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p>This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.</p><p>Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.</p><p><b>Grizzly’s Core Short Thesis</b></p><p>Grizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).</p><p>In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.</p><p>In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:</p><p><b>Opportunity:</b>As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.</p><p>The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.</p><p><b>Incentive:</b>Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.</p><p>Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.</p><p><b>Rationalization:</b>The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.</p><p>NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.</p><p><b>Challenging Grizzly’s Conclusion on “Control” Established by NIO Over Weineng</b></p><p>In addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.</p><p>First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.</p><p>Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/505c64f7bc18c02131dd830e5f2a5462\" tg-width=\"640\" tg-height=\"260\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Investments in Associates and Joint Ventures (IAS)</span></p><p>Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:</p><p>1. “<b>Power</b>” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.</p><p>2. Exposure to<i>variable returns</i>from the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.</p><p>As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.</p><p>Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established in<i>Internal Control – Integrated Framework</i>(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.</p><p>3. The acquiring party is a<i>principal</i>in the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:</p><ul><li>Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.</li><li>The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.</li><li>In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section<i>(r) Revenue recognition</i>in the 2021 20F.</li><li>As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.</li></ul><p><b>Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit Inflation</b></p><p>Grizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:</p><p><b>1. Frontloaded Revenue via Battery Sales to Weineng</b></p><p><b>Grizzly’s accusation.</b>As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.</p><p>Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.</p><p>Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21e7d58b24ac2bde6344b4206ef9be8e\" tg-width=\"592\" tg-height=\"395\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)</span></p><p>As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.</p><p>The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.</p><p>To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.</p><p><b>Issue with Grizzly’s claim.</b>In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.</p><p>While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).</p><p>When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.</p><p><b>Livy’s revised calculation of quantified impacts.</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/324a74d6eeeb60a4bd2da9251d4d6ed8\" tg-width=\"640\" tg-height=\"416\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Revenue and Income Variances Pertaining to NIO&#39;s Alleged Frontloading of BaaS Sales (Author)</span></p><p>The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.</p><p><b>2. Revenues from Oversupplied Batteries to Weineng</b></p><p><b>Grizzly’s accusation.</b>Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.</p><p>However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.</p><p>While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.</p><p><b>Livy’s response.</b>While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.</p><p>Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.</p><p>There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.</p><p><b>Grizzly’s calculation of quantified impacts.</b>In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a2497da8272eec2b6020c07b7ee06b1f\" tg-width=\"580\" tg-height=\"420\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)</span></p><p>In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.</p><p>Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.</p><p>We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.</p><p><b>3. Shifting Depreciation Costs</b></p><p><b>Grizzly’s Accusations.</b>Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.</p><p>Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.</p><p>Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.</p><p><b>Issue with Grizzly’s claim.</b>There are two folds to this situation:</p><p><b>1. BaaS Business Model:</b>Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e89611dda7a7e83881997628fe7aae3\" tg-width=\"640\" tg-height=\"187\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p><b>2. Battery Sales Business Model:</b>in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.</p><p>As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.</p><p>If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/96f972c8d488406cd690b0672265e62b\" tg-width=\"576\" tg-height=\"498\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Total Revenue and Income Inflation (Grizzly Research)</span></p><p>As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.</p><p><b>Livy’s revised calculation of quantified impacts.</b>While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.</p><p>Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1ffe9833bb562f66e5365e077d7741d4\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/230a54833c34b3a9920a03524c28e960\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ccf9a3a0482b46cee102e66d5137113f\" tg-width=\"640\" tg-height=\"220\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Revenue Overstatement (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c7ec5a61d7fd491aec81d9a48a92020\" tg-width=\"640\" tg-height=\"188\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatement in Net Income (Author)</span></p><p>Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (&lt; 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.</p><p><b>Final Thoughts</b></p><p>As discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).</p><p>While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.</p><p>At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.</p><p>This article was written by Livy Investment Research</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Questions And Challenges To The Grizzly Short-Seller Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Questions And Challenges To The Grizzly Short-Seller Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-30 12:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is ...</p>\n\n<a href=\"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO.SI":"蔚来","09866":"蔚来-SW","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1121505043","content_text":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly's claims of financial manipulation at NIO.However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO's BaaS operations.Drew Angerer/Getty Images NewsGrizzly Research (\"Grizzly\") has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.Accounting Crash Course: NIO’s BaaS Revenue Recognition MethodThrough publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:GAAP Rules on Related Party Disclosures (IAS)Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:Journal Entries for Battery Sales Business Model (Author)In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:Journal Entries for BaaS Business Model (Author)This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.Grizzly’s Core Short ThesisGrizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:Opportunity:As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.Incentive:Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.Rationalization:The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.Challenging Grizzly’s Conclusion on “Control” Established by NIO Over WeinengIn addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:GAAP Rules on Investments in Associates and Joint Ventures (IAS)Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:1. “Power” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.2. Exposure tovariable returnsfrom the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established inInternal Control – Integrated Framework(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.3. The acquiring party is aprincipalin the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section(r) Revenue recognitionin the 2021 20F.As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit InflationGrizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:1. Frontloaded Revenue via Battery Sales to WeinengGrizzly’s accusation.As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.Grizzly’s calculation of quantified impacts.Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:Grizzly's Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.Issue with Grizzly’s claim.In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.Livy’s revised calculation of quantified impacts.Livy's Computation of Revenue and Income Variances Pertaining to NIO's Alleged Frontloading of BaaS Sales (Author)The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.2. Revenues from Oversupplied Batteries to WeinengGrizzly’s accusation.Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.Livy’s response.While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.Grizzly’s calculation of quantified impacts.In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:Grizzly's Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.3. Shifting Depreciation CostsGrizzly’s Accusations.Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.Issue with Grizzly’s claim.There are two folds to this situation:1. BaaS Business Model:Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:Journal Entries for BaaS Business Model (Author)2. Battery Sales Business Model:in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:Journal Entries for Battery Sales Business Model (Author)Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.Grizzly’s calculation of quantified impacts.Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:Grizzly's Computation of Total Revenue and Income Inflation (Grizzly Research)As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.Livy’s revised calculation of quantified impacts.While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:Livy's Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)Livy's Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)Livy's Computation of Alleged Revenue Overstatement (Author)Livy's Computation of Alleged Overstatement in Net Income (Author)Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (< 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.Final ThoughtsAs discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.This article was written by Livy Investment Research","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9080724160,"gmtCreate":1649921817392,"gmtModify":1676534607655,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/RW0U.SI\">$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$</a>[smile]&nbsp;","listText":"<a href=\"https://ttm.financial/S/RW0U.SI\">$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$</a>[smile]&nbsp;","text":"$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$[smile]","images":[{"img":"https://community-static.tradeup.com/news/fa33623bc9669d71d3ab6cb9dc2d5105","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9080724160","isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9014008690,"gmtCreate":1649559919513,"gmtModify":1676534530524,"author":{"id":"4091925166419540","authorId":"4091925166419540","name":"Jazim","avatar":"https://static.tigerbbs.com/85de7ecb80758afc3288fc8bb7e5ef27","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091925166419540","authorIdStr":"4091925166419540"},"themes":[],"htmlText":"Okay","listText":"Okay","text":"Okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9014008690","repostId":"2226572685","repostType":4,"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}