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MD MONIR

MD MONIR

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2022-09-19

$GENTING SINGAPORE LIMITED(G13.SI)$

2022-09-18

i am never known this

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2022-09-17

How do do this apps

2022-07-08

$Tesla Motors(TSLA)$View on Tesla Motors(TSLA)BullishBearish

2022-07-07

ok

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2022-07-06

Can stop my stock

U.S. Stock Futures Waver Ahead of Fed Minutes

2022-07-06

How

Tesla: No Excuses For Q2 Miss

2022-07-06

Good

Singapore Stocks to watch: SIA, MCT, Hwa Hong

2022-07-01

Can out off stocks please

Singapore Stocks to Watch: Keppel Infra Trust, Keppel, ARA-H Trust, Ascott Trust, Kimly

2022-07-01

Happy there

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Go to Tiger App to see more news

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href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>View on Tesla Motors(TSLA)BullishBearish","listText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>View on Tesla Motors(TSLA)BullishBearish","text":"$Tesla Motors(TSLA)$View on Tesla Motors(TSLA)BullishBearish","images":[{"img":"https://community-static.tradeup.com/news/50a4d058324807c1f80888bdbd39db8f","width":"1242","height":"2445"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9079482498","isVote":1,"tweetType":1,"viewCount":412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9079243495,"gmtCreate":1657208724917,"gmtModify":1676535969925,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD 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stock&nbsp;","listText":"Can stop my stock&nbsp;","text":"Can stop my stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9070711660","repostId":"1147011338","repostType":4,"repost":{"id":"1147011338","kind":"news","pubTimestamp":1657104216,"share":"https://ttm.financial/m/news/1147011338?lang=&edition=fundamental","pubTime":"2022-07-06 18:43","market":"us","language":"en","title":"U.S. Stock Futures Waver Ahead of Fed Minutes","url":"https://stock-news.laohu8.com/highlight/detail?id=1147011338","media":"Wall Street Journal","summary":"U.S. stock futures wobbled ahead of minutes from the Federal Reserve that will be scrutinized for in","content":"<html><head></head><body><p>U.S. stock futures wobbled ahead of minutes from the Federal Reserve that will be scrutinized for insights into the state of the economy and the central bank’s efforts to tame inflation through interest-rate increases.</p><p>Futures tied to the S&amp;P 500 oscillated between small gains and losses, pointing to the broad-market index hovering after a tepid two-day rally. The S&amp;P 500 notched a 0.2% gain on Tuesday. Nasdaq-100 futures ticked down 0.1%, pointing to muted moves for technology stocks after the opening bell. Dow Jones Industrial Average futures lost 0.2%.</p><p>Both VIX and VIXmain rose nearly 1%; Gold slid 0.23 and reached $1759.8.</p><p>Stocks have edged up in recent days, as some investors shifted their views about the aggressiveness of central bank tightening as economic growth and consumer sentiment weakened. Markets are beginning to price in a pivot on policy from the Federal Reserve, despite inflation still being at a more than four-decade high. The S&amp;P 500 is still in a bear market and closed down 20.1% from its latest peak on Tuesday.</p><p>“Over the last couple of days, markets priced out some of the hawkishness that they were expecting for the Fed. What’s going to be interesting is to see whether the Fed in the short term will try to push back,” said Gergely Majoros, a portfolio adviser at Carmignac. “At least for the foreseeable future, it’s all about inflation.”</p><p>The Federal Reserve is expected to release minutes from its last policy meeting at 2 p.m. ET. Investors were also awaiting data on the services sector, with purchasing managers’ surveys due at 10 a.m. ET.</p><p>“We are awaiting some kind of short-term rebound because the movement has been extremely quick from a historical point of view,” said Francesco Sandrini, head of multiasset strategies at Amundi. “The hope is that central banks, to some extent, are stopping hiking rates and entering into a wait-and-see approach” to assess how much economic growth and corporate earnings are being affected, he said.</p><p>A well-known recession indicator flashed in the bond market again, as the U.S. yield curve inverted. That happens when shorter-dated yields such as for the two-year bond are higher than for longer-dated debt such as the 10-year.</p><p>The two-year yield was at 2.843% on Wednesday compared to 2.814% for the 10-year, according to Tradeweb. Prices fall when yields rise.</p><p>Oil prices recovered after their biggest plunge since March on Tuesday. Global benchmark Brent crude rose 1.3% to trade at $104.05 a barrel. The U.S. equivalent WTI rose 0.7% after falling below $100 a barrel the day before for the first time in about two months.</p><p>“When the growth outlook changes, people tend to anticipate that the demand side for energy will weaken as well and that tends to put pressure on the price of oil,” Mr. Majoros said.</p><p>Overseas, the pan-continental Stoxx Europe 600 rose 1.2%. The Norwegian government intervened to end an oil workers strike on Tuesday evening that threatened to more than halve the country’s gas exports, a key source of energy for the region. A benchmark natural-gas futures contract fell 6% after reaching a four-month high the previous day.</p><p>Dutch food delivery firm Just Eat Takeaway surged 18% after its subsidiary Grubhub struck a deal with Amazon.com to be added to Prime services in the U.S. The e-commerce giant also has the option to take a small equity stake. In premarket trading in New York, Grubhub competitor DoorDash fell 5%.</p><p>Cryptocurrency exchange Coinbase Global declined 3% after a rival exchange put forward a proposal to regulator that would allow crypto investors to bypass brokers while trading derivatives. Instability in the digital-assets ecosystem was also on display after brokerVoyager Digital Ltd. said that it has filed for bankruptcy protection, days after it suspended withdrawals and trading on its platform.</p><p>The British pound hovered close to its lowest level since March 2020 after the country’s finance and health ministers resigned on Tuesday evening.</p><p>In Asia, most major benchmarks declined. The Shanghai Composite Index fell 1.4<b>%</b>and Hong Kong’s Hang Seng Index lost 1.2%. Japan’s Nikkei 225 also retreated 1.2%.</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>U.S. Stock Futures Waver Ahead of Fed Minutes</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\">\nU.S. Stock Futures Waver Ahead of Fed Minutes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-06 18:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/global-stocks-markets-dow-update-07-06-2022-11657093107?mod=markets_lead_pos1><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stock futures wobbled ahead of minutes from the Federal Reserve that will be scrutinized for insights into the state of the economy and the central bank’s efforts to tame inflation through ...</p>\n\n<a href=\"https://www.wsj.com/articles/global-stocks-markets-dow-update-07-06-2022-11657093107?mod=markets_lead_pos1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VIX":"标普500波动率指数"},"source_url":"https://www.wsj.com/articles/global-stocks-markets-dow-update-07-06-2022-11657093107?mod=markets_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147011338","content_text":"U.S. stock futures wobbled ahead of minutes from the Federal Reserve that will be scrutinized for insights into the state of the economy and the central bank’s efforts to tame inflation through interest-rate increases.Futures tied to the S&P 500 oscillated between small gains and losses, pointing to the broad-market index hovering after a tepid two-day rally. The S&P 500 notched a 0.2% gain on Tuesday. Nasdaq-100 futures ticked down 0.1%, pointing to muted moves for technology stocks after the opening bell. Dow Jones Industrial Average futures lost 0.2%.Both VIX and VIXmain rose nearly 1%; Gold slid 0.23 and reached $1759.8.Stocks have edged up in recent days, as some investors shifted their views about the aggressiveness of central bank tightening as economic growth and consumer sentiment weakened. Markets are beginning to price in a pivot on policy from the Federal Reserve, despite inflation still being at a more than four-decade high. The S&P 500 is still in a bear market and closed down 20.1% from its latest peak on Tuesday.“Over the last couple of days, markets priced out some of the hawkishness that they were expecting for the Fed. What’s going to be interesting is to see whether the Fed in the short term will try to push back,” said Gergely Majoros, a portfolio adviser at Carmignac. “At least for the foreseeable future, it’s all about inflation.”The Federal Reserve is expected to release minutes from its last policy meeting at 2 p.m. ET. Investors were also awaiting data on the services sector, with purchasing managers’ surveys due at 10 a.m. ET.“We are awaiting some kind of short-term rebound because the movement has been extremely quick from a historical point of view,” said Francesco Sandrini, head of multiasset strategies at Amundi. “The hope is that central banks, to some extent, are stopping hiking rates and entering into a wait-and-see approach” to assess how much economic growth and corporate earnings are being affected, he said.A well-known recession indicator flashed in the bond market again, as the U.S. yield curve inverted. That happens when shorter-dated yields such as for the two-year bond are higher than for longer-dated debt such as the 10-year.The two-year yield was at 2.843% on Wednesday compared to 2.814% for the 10-year, according to Tradeweb. Prices fall when yields rise.Oil prices recovered after their biggest plunge since March on Tuesday. Global benchmark Brent crude rose 1.3% to trade at $104.05 a barrel. The U.S. equivalent WTI rose 0.7% after falling below $100 a barrel the day before for the first time in about two months.“When the growth outlook changes, people tend to anticipate that the demand side for energy will weaken as well and that tends to put pressure on the price of oil,” Mr. Majoros said.Overseas, the pan-continental Stoxx Europe 600 rose 1.2%. The Norwegian government intervened to end an oil workers strike on Tuesday evening that threatened to more than halve the country’s gas exports, a key source of energy for the region. A benchmark natural-gas futures contract fell 6% after reaching a four-month high the previous day.Dutch food delivery firm Just Eat Takeaway surged 18% after its subsidiary Grubhub struck a deal with Amazon.com to be added to Prime services in the U.S. The e-commerce giant also has the option to take a small equity stake. In premarket trading in New York, Grubhub competitor DoorDash fell 5%.Cryptocurrency exchange Coinbase Global declined 3% after a rival exchange put forward a proposal to regulator that would allow crypto investors to bypass brokers while trading derivatives. Instability in the digital-assets ecosystem was also on display after brokerVoyager Digital Ltd. said that it has filed for bankruptcy protection, days after it suspended withdrawals and trading on its platform.The British pound hovered close to its lowest level since March 2020 after the country’s finance and health ministers resigned on Tuesday evening.In Asia, most major benchmarks declined. The Shanghai Composite Index fell 1.4%and Hong Kong’s Hang Seng Index lost 1.2%. Japan’s Nikkei 225 also retreated 1.2%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9070476269,"gmtCreate":1657099443851,"gmtModify":1676535949140,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD MONIR","avatar":"https://community-static.tradeup.com/news/5170acd9e569d80a38fdc5428e5a979c","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4118616564972632","authorIdStr":"4118616564972632"},"themes":[],"htmlText":"How&nbsp;","listText":"How&nbsp;","text":"How","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9070476269","repostId":"1105317880","repostType":2,"repost":{"id":"1105317880","kind":"news","pubTimestamp":1657096827,"share":"https://ttm.financial/m/news/1105317880?lang=&edition=fundamental","pubTime":"2022-07-06 16:40","market":"us","language":"en","title":"Tesla: No Excuses For Q2 Miss","url":"https://stock-news.laohu8.com/highlight/detail?id=1105317880","media":"Seeking Alpha","summary":"SummaryTesla falls short of estimates for Q2 deliveries.Revenue estimates likely need to come down.P","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Tesla falls short of estimates for Q2 deliveries.</li><li>Revenue estimates likely need to come down.</li><li>Pressure increases for the second half of the year.</li></ul><p>Covid lockdowns in China during a good portion of Q2 2022 impacted many industries. Electric vehicle maker Tesla (NASDAQ:TSLA) saw its Shanghai factory shut down for a good portion of the quarter, providing a significant headwind for production and delivery growth. Investors and analysts have spent several weeks cutting expectations as a result, but Tesla still missed, and there shouldn&#39;t be any excuses this time around.</p><p>Earlier this year, the expectation was that Tesla would continue to see an increase in production and deliveries each quarter throughout the year. Hopes were that the company could do well over 300,000 deliveries in Q2, but those dreams were slashed when Shanghai needed to close. As a result, analysts have been cutting estimates for basically two months now. The following graphic details what Tesla Investor Relations sent out towards the end of June, showing all estimates and a lower group of estimates that supposedly reflected the Covid shutdown.</p><p><img src=\"https://static.tigerbbs.com/83273e90e724091410c58f822043653d\" tg-width=\"640\" tg-height=\"404\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Tesla Q2 Estimates (Tesla IR)</p><p>On Saturday, the company issued its usual quarterly press release detailing production and deliveries for the second quarter. Tesla came in a little under 254,700 deliveries, which is a complete miss. The company beat by about 300 units on the S/X side, which means things were a bit disappointing on the 3/Y side, especially given the ramps in the new Berlin and Austin factories.</p><p>What troubles me the most here is that Tesla bulls were out in full force talking about these results in such a positive way. Gary Black, who runs the Future Fund Active ETF (FFND) that has Tesla as its largest holding, called the number &#34;in line&#34; with expectations as seen below. Ross Gerber, who has Tesla as his top holding in the Gerber Kawasaki ETF (GK), called the numbers excellent. Of course, both of these ETFs have significantly underperformed the market since their respective 2021 launches, so investors may not find much credibility in these Tesla supporters here, to begin with.</p><p><img src=\"https://static.tigerbbs.com/417f161582d5f5c697c53f619cd784a3\" tg-width=\"610\" tg-height=\"248\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Tesla Bull Commentary (Twitter)</p><p>In my opinion, you can&#39;t blame the poor results on the shutdowns or call these numbers in line. We&#39;ve known about these issues for months, so nobody can be shocked by them. Tesla Investor Relations sent out two sets of estimates, one of which they had selected to form a lower than usual consensus, and the company still missed by more than 2,000 units. If Apple (AAPL) told analysts to model $100 billion in revenues and then reported $99.2 billion, everyone would report it as a miss and say it was a bad result. I also can&#39;t put too much into the record June production comments because the company is ramping Fremont and opened two new factories earlier this year. It&#39;d be a much more important news story if Tesla did not have record production.</p><p>With deliveries down more than 55,000 units from Q1 of this year, it&#39;s obvious that total revenues are not going to top that period&#39;s $18.76 billion figure. Tesla&#39;s average selling prices will benefit from rising prices, a higher mix of S/X sales in the quarter and a lower overall percentage of leased vehicles in the total. On the flip side, a stronger dollar during Q2 will provide a headwind to the company&#39;s topline. For those that include credit sales in their number, that number is expected to come down quite a bit sequentially given the large one-time benefit reported in Q1.</p><p>Going into Saturday&#39;s release, the average analyst estimate called for $17.34 billion in Q2 revenues. I believe that number needs to come down by at least half a billion or so to be more realistic. That analyst average included at least one estimate over $20 billion, and we know there are some older estimates included in the total. I&#39;ll do my full income statement model when we get closer to earnings on July 20th and get a better idea of vehicle sales in various geographies, but for now, I think the low to mid $16 billion area seems reasonable.</p><p>As for Tesla shares, they&#39;ve come down quite a bit this year along with the overall market. The reduction in yearly expectations plus Fed rate hikes has hit this high growth story. Outside of earnings, the upcoming stock split may be seen as a positive catalyst, but this isn&#39;t the same situation as we saw the last time this stock split. As the chart below shows, the stock is under its 50-day moving average (purple line) currently, and this key technical level could provide short-term resistance if the stock cannot break above it.</p><p><img src=\"https://static.tigerbbs.com/56590b561a98aa0cb12dd27fdb9d5962\" tg-width=\"640\" tg-height=\"268\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Tesla Last 6 Months (Yahoo! Finance)</p><p>Later this month, the focus should start to move towards Q3 expectations. Now that Tesla has four factories in operation, the company is going to need to prove it can ramp production and deliveries in a significant way. We are going to see a lot of estimates in the 375,000 area or even higher for the current quarter. It will be interesting to see if Tesla needs to reduce prices or introduce lower priced model variants to get that kind of sales unit volume.</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>Tesla: No Excuses For Q2 Miss</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\">\nTesla: No Excuses For Q2 Miss\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-06 16:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4521829-tesla-tsla-no-excuses-for-q2-miss?source=content_type%3Aall%7Cfirst_level_url%3Aportfolio%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A12><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryTesla falls short of estimates for Q2 deliveries.Revenue estimates likely need to come down.Pressure increases for the second half of the year.Covid lockdowns in China during a good portion of ...</p>\n\n<a href=\"https://seekingalpha.com/article/4521829-tesla-tsla-no-excuses-for-q2-miss?source=content_type%3Aall%7Cfirst_level_url%3Aportfolio%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A12\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4521829-tesla-tsla-no-excuses-for-q2-miss?source=content_type%3Aall%7Cfirst_level_url%3Aportfolio%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A12","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105317880","content_text":"SummaryTesla falls short of estimates for Q2 deliveries.Revenue estimates likely need to come down.Pressure increases for the second half of the year.Covid lockdowns in China during a good portion of Q2 2022 impacted many industries. Electric vehicle maker Tesla (NASDAQ:TSLA) saw its Shanghai factory shut down for a good portion of the quarter, providing a significant headwind for production and delivery growth. Investors and analysts have spent several weeks cutting expectations as a result, but Tesla still missed, and there shouldn't be any excuses this time around.Earlier this year, the expectation was that Tesla would continue to see an increase in production and deliveries each quarter throughout the year. Hopes were that the company could do well over 300,000 deliveries in Q2, but those dreams were slashed when Shanghai needed to close. As a result, analysts have been cutting estimates for basically two months now. The following graphic details what Tesla Investor Relations sent out towards the end of June, showing all estimates and a lower group of estimates that supposedly reflected the Covid shutdown.Tesla Q2 Estimates (Tesla IR)On Saturday, the company issued its usual quarterly press release detailing production and deliveries for the second quarter. Tesla came in a little under 254,700 deliveries, which is a complete miss. The company beat by about 300 units on the S/X side, which means things were a bit disappointing on the 3/Y side, especially given the ramps in the new Berlin and Austin factories.What troubles me the most here is that Tesla bulls were out in full force talking about these results in such a positive way. Gary Black, who runs the Future Fund Active ETF (FFND) that has Tesla as its largest holding, called the number \"in line\" with expectations as seen below. Ross Gerber, who has Tesla as his top holding in the Gerber Kawasaki ETF (GK), called the numbers excellent. Of course, both of these ETFs have significantly underperformed the market since their respective 2021 launches, so investors may not find much credibility in these Tesla supporters here, to begin with.Tesla Bull Commentary (Twitter)In my opinion, you can't blame the poor results on the shutdowns or call these numbers in line. We've known about these issues for months, so nobody can be shocked by them. Tesla Investor Relations sent out two sets of estimates, one of which they had selected to form a lower than usual consensus, and the company still missed by more than 2,000 units. If Apple (AAPL) told analysts to model $100 billion in revenues and then reported $99.2 billion, everyone would report it as a miss and say it was a bad result. I also can't put too much into the record June production comments because the company is ramping Fremont and opened two new factories earlier this year. It'd be a much more important news story if Tesla did not have record production.With deliveries down more than 55,000 units from Q1 of this year, it's obvious that total revenues are not going to top that period's $18.76 billion figure. Tesla's average selling prices will benefit from rising prices, a higher mix of S/X sales in the quarter and a lower overall percentage of leased vehicles in the total. On the flip side, a stronger dollar during Q2 will provide a headwind to the company's topline. For those that include credit sales in their number, that number is expected to come down quite a bit sequentially given the large one-time benefit reported in Q1.Going into Saturday's release, the average analyst estimate called for $17.34 billion in Q2 revenues. I believe that number needs to come down by at least half a billion or so to be more realistic. That analyst average included at least one estimate over $20 billion, and we know there are some older estimates included in the total. I'll do my full income statement model when we get closer to earnings on July 20th and get a better idea of vehicle sales in various geographies, but for now, I think the low to mid $16 billion area seems reasonable.As for Tesla shares, they've come down quite a bit this year along with the overall market. The reduction in yearly expectations plus Fed rate hikes has hit this high growth story. Outside of earnings, the upcoming stock split may be seen as a positive catalyst, but this isn't the same situation as we saw the last time this stock split. As the chart below shows, the stock is under its 50-day moving average (purple line) currently, and this key technical level could provide short-term resistance if the stock cannot break above it.Tesla Last 6 Months (Yahoo! Finance)Later this month, the focus should start to move towards Q3 expectations. Now that Tesla has four factories in operation, the company is going to need to prove it can ramp production and deliveries in a significant way. We are going to see a lot of estimates in the 375,000 area or even higher for the current quarter. It will be interesting to see if Tesla needs to reduce prices or introduce lower priced model variants to get that kind of sales unit volume.","news_type":1},"isVote":1,"tweetType":1,"viewCount":192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9070227563,"gmtCreate":1657068620752,"gmtModify":1676535943278,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD MONIR","avatar":"https://community-static.tradeup.com/news/5170acd9e569d80a38fdc5428e5a979c","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4118616564972632","authorIdStr":"4118616564972632"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9070227563","repostId":"1133674831","repostType":4,"repost":{"id":"1133674831","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1657067503,"share":"https://ttm.financial/m/news/1133674831?lang=&edition=fundamental","pubTime":"2022-07-06 08:31","market":"sg","language":"en","title":"Singapore Stocks to watch: SIA, MCT, Hwa Hong","url":"https://stock-news.laohu8.com/highlight/detail?id=1133674831","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 6):</p><p><b>SINGAPORE Airlines</b> is adding frequencies and service points to Japan, Los Angeles, Paris and India by December, raising its group capacity to 81 per cent of pre-pandemic levels.</p><p>The mainboard-listed airline group said in a statement on Tuesday (Jul 5) that the increase in frequencies and service points is in response to strong demand for air travel as the northern winter season (Oct 30 to Mar 25, 2023) approaches. The group will monitor the demand for air travel and adjust its services accordingly, said JoAnn Tan, senior vice-president for marketing planning at SIA.</p><p><b>MAPLETREE Commercial Trust</b> announced in a bourse filing on Tuesday (Jul 5) that it has appointed formerOCBC : O39 -0.53%chief executive Samuel Tsien as a non-executive director of the manager of the real estate investment trust (Reit).</p><p>Concurrently, Tsien is a non-executive director of Mapletree Investments, the sponsor of MCT, and a member of the sponsor’s investment committee.</p><p>SHAREHOLDING directors of <b>Hwa Hong Corporation</b> are increasingly of the view that maximising shareholder value would be best achieved outside the timeline and constraints imposed by the general offer” made by Sanjuro United at S$0.40 per Hwa Hong share, said the company on Monday (Jul 4).</p><p>This comes ahead of theoffer’s closing deadline on Jul 6.</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: SIA, MCT, Hwa Hong</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: SIA, MCT, Hwa Hong\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\">2022-07-06 08:31</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 6):</p><p><b>SINGAPORE Airlines</b> is adding frequencies and service points to Japan, Los Angeles, Paris and India by December, raising its group capacity to 81 per cent of pre-pandemic levels.</p><p>The mainboard-listed airline group said in a statement on Tuesday (Jul 5) that the increase in frequencies and service points is in response to strong demand for air travel as the northern winter season (Oct 30 to Mar 25, 2023) approaches. The group will monitor the demand for air travel and adjust its services accordingly, said JoAnn Tan, senior vice-president for marketing planning at SIA.</p><p><b>MAPLETREE Commercial Trust</b> announced in a bourse filing on Tuesday (Jul 5) that it has appointed formerOCBC : O39 -0.53%chief executive Samuel Tsien as a non-executive director of the manager of the real estate investment trust (Reit).</p><p>Concurrently, Tsien is a non-executive director of Mapletree Investments, the sponsor of MCT, and a member of the sponsor’s investment committee.</p><p>SHAREHOLDING directors of <b>Hwa Hong Corporation</b> are increasingly of the view that maximising shareholder value would be best achieved outside the timeline and constraints imposed by the general offer” made by Sanjuro United at S$0.40 per Hwa Hong share, said the company on Monday (Jul 4).</p><p>This comes ahead of theoffer’s closing deadline on Jul 6.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"N2IU.SI":"丰树商业信托","C6L.SI":"新加坡航空公司"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133674831","content_text":"THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 6):SINGAPORE Airlines is adding frequencies and service points to Japan, Los Angeles, Paris and India by December, raising its group capacity to 81 per cent of pre-pandemic levels.The mainboard-listed airline group said in a statement on Tuesday (Jul 5) that the increase in frequencies and service points is in response to strong demand for air travel as the northern winter season (Oct 30 to Mar 25, 2023) approaches. The group will monitor the demand for air travel and adjust its services accordingly, said JoAnn Tan, senior vice-president for marketing planning at SIA.MAPLETREE Commercial Trust announced in a bourse filing on Tuesday (Jul 5) that it has appointed formerOCBC : O39 -0.53%chief executive Samuel Tsien as a non-executive director of the manager of the real estate investment trust (Reit).Concurrently, Tsien is a non-executive director of Mapletree Investments, the sponsor of MCT, and a member of the sponsor’s investment committee.SHAREHOLDING directors of Hwa Hong Corporation are increasingly of the view that maximising shareholder value would be best achieved outside the timeline and constraints imposed by the general offer” made by Sanjuro United at S$0.40 per Hwa Hong share, said the company on Monday (Jul 4).This comes ahead of theoffer’s closing deadline on Jul 6.","news_type":1},"isVote":1,"tweetType":1,"viewCount":381,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045458827,"gmtCreate":1656645940669,"gmtModify":1676535870738,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD MONIR","avatar":"https://community-static.tradeup.com/news/5170acd9e569d80a38fdc5428e5a979c","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4118616564972632","authorIdStr":"4118616564972632"},"themes":[],"htmlText":"Can out off stocks please&nbsp;","listText":"Can out off stocks please&nbsp;","text":"Can out off stocks please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045458827","repostId":"1184596290","repostType":4,"repost":{"id":"1184596290","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1656636441,"share":"https://ttm.financial/m/news/1184596290?lang=&edition=fundamental","pubTime":"2022-07-01 08:47","market":"sg","language":"en","title":"Singapore Stocks to Watch: Keppel Infra Trust, Keppel, ARA-H Trust, Ascott Trust, Kimly","url":"https://stock-news.laohu8.com/highlight/detail?id=1184596290","media":"Tiger Newspress","summary":"THE following companies saw new developments that may affect trading of their securities on Friday (","content":"<html><head></head><body><p>THE following companies saw new developments that may affect trading of their securities on Friday (Jul 1):</p><p><b>Keppel Infrastructure Trust (A7RU):</b> Keppel Infrastructure Trust (KIT) has entered a non-binding term sheet to purchase from its sponsor a 50-per-cent stake in Marina East Water (MEW), which owns the Keppel Marina East Desalination Plant (KMEDP), for an enterprise value of about S$355 million.</p><p><b>Keppel(BN4):</b> ORIZONA, a wholly-owned unit of Keppel Land, has terminated a joint venture announced in 2020 with Emerald Haven Realty to develop a residential project in Chennai in south-eastern India.</p><p>In a Thursday (Jun 30) bourse filing, Keppel Corp said that Orizona, Emerald Haven and other entities involved have entered a deal to terminate the share-purchase agreement in relation to the acquisition of sale shares, and the joint-venture agreement in relation to the subscription and allocation of compulsorily convertible debentures (CCDs).</p><p><b>ARA-H Trust(XZL):</b> ARA US Hospitality Trust (ARA H-Trust) has agreed to sell a 4-property portfolio of Hyatt Place hotels for US$32.5 million to US-based real estate investment firm Three Wall Capital.</p><p><b>Ascott Trust(HMN):</b> BEH Siew Kim, chief executive and executive director of the managers ofAscott Residence Trust (ART), will relinquish her position from Jul 1 (Friday) to assume another senior management role within CapitaLand Investment or its subsidiaries. She will be replaced as chief executive by Serena Teo Joo Ling, who will also be appointed executive director and a member of the executive committee. She was deputy chief executive of the managers of ART in November 2021.</p><p><b>Kimly(1D0): </b>KIMLY Makan Place (KMP), a wholly-owned unit of Catalist-listed Kimly, has entered a joint venture with a fellow food court specialist to operate and manage an HDB coffeeshop lease at Kitchener Complex on 808 French Road.</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 Infra Trust, Keppel, ARA-H Trust, Ascott Trust, Kimly</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 Infra Trust, Keppel, ARA-H Trust, Ascott Trust, Kimly\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\">2022-07-01 08:47</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 Friday (Jul 1):</p><p><b>Keppel Infrastructure Trust (A7RU):</b> Keppel Infrastructure Trust (KIT) has entered a non-binding term sheet to purchase from its sponsor a 50-per-cent stake in Marina East Water (MEW), which owns the Keppel Marina East Desalination Plant (KMEDP), for an enterprise value of about S$355 million.</p><p><b>Keppel(BN4):</b> ORIZONA, a wholly-owned unit of Keppel Land, has terminated a joint venture announced in 2020 with Emerald Haven Realty to develop a residential project in Chennai in south-eastern India.</p><p>In a Thursday (Jun 30) bourse filing, Keppel Corp said that Orizona, Emerald Haven and other entities involved have entered a deal to terminate the share-purchase agreement in relation to the acquisition of sale shares, and the joint-venture agreement in relation to the subscription and allocation of compulsorily convertible debentures (CCDs).</p><p><b>ARA-H Trust(XZL):</b> ARA US Hospitality Trust (ARA H-Trust) has agreed to sell a 4-property portfolio of Hyatt Place hotels for US$32.5 million to US-based real estate investment firm Three Wall Capital.</p><p><b>Ascott Trust(HMN):</b> BEH Siew Kim, chief executive and executive director of the managers ofAscott Residence Trust (ART), will relinquish her position from Jul 1 (Friday) to assume another senior management role within CapitaLand Investment or its subsidiaries. She will be replaced as chief executive by Serena Teo Joo Ling, who will also be appointed executive director and a member of the executive committee. She was deputy chief executive of the managers of ART in November 2021.</p><p><b>Kimly(1D0): </b>KIMLY Makan Place (KMP), a wholly-owned unit of Catalist-listed Kimly, has entered a joint venture with a fellow food court specialist to operate and manage an HDB coffeeshop lease at Kitchener Complex on 808 French Road.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SK6U.SI":"百利宫房地产投资信托","A7RU.SI":"吉宝基础设施信托","BN4.SI":"吉宝有限公司","1D0.SI":"金味有限公司","HMN.SI":"凯德雅诗阁信托","XZL.SI":"亚腾美国酒店信托"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184596290","content_text":"THE following companies saw new developments that may affect trading of their securities on Friday (Jul 1):Keppel Infrastructure Trust (A7RU): Keppel Infrastructure Trust (KIT) has entered a non-binding term sheet to purchase from its sponsor a 50-per-cent stake in Marina East Water (MEW), which owns the Keppel Marina East Desalination Plant (KMEDP), for an enterprise value of about S$355 million.Keppel(BN4): ORIZONA, a wholly-owned unit of Keppel Land, has terminated a joint venture announced in 2020 with Emerald Haven Realty to develop a residential project in Chennai in south-eastern India.In a Thursday (Jun 30) bourse filing, Keppel Corp said that Orizona, Emerald Haven and other entities involved have entered a deal to terminate the share-purchase agreement in relation to the acquisition of sale shares, and the joint-venture agreement in relation to the subscription and allocation of compulsorily convertible debentures (CCDs).ARA-H Trust(XZL): ARA US Hospitality Trust (ARA H-Trust) has agreed to sell a 4-property portfolio of Hyatt Place hotels for US$32.5 million to US-based real estate investment firm Three Wall Capital.Ascott Trust(HMN): BEH Siew Kim, chief executive and executive director of the managers ofAscott Residence Trust (ART), will relinquish her position from Jul 1 (Friday) to assume another senior management role within CapitaLand Investment or its subsidiaries. She will be replaced as chief executive by Serena Teo Joo Ling, who will also be appointed executive director and a member of the executive committee. She was deputy chief executive of the managers of ART in November 2021.Kimly(1D0): KIMLY Makan Place (KMP), a wholly-owned unit of Catalist-listed Kimly, has entered a joint venture with a fellow food court specialist to operate and manage an HDB coffeeshop lease at Kitchener Complex on 808 French Road.","news_type":1},"isVote":1,"tweetType":1,"viewCount":393,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045453202,"gmtCreate":1656645603706,"gmtModify":1676535870694,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD MONIR","avatar":"https://community-static.tradeup.com/news/5170acd9e569d80a38fdc5428e5a979c","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4118616564972632","authorIdStr":"4118616564972632"},"themes":[],"htmlText":"Happy there&nbsp;","listText":"Happy there&nbsp;","text":"Happy there","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045453202","repostId":"1184596290","repostType":4,"isVote":1,"tweetType":1,"viewCount":293,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9937784607,"gmtCreate":1663507190509,"gmtModify":1676537280721,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD MONIR","avatar":"https://community-static.tradeup.com/news/5170acd9e569d80a38fdc5428e5a979c","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4118616564972632","authorIdStr":"4118616564972632"},"themes":[],"htmlText":"i am never known this&nbsp;","listText":"i am never known this&nbsp;","text":"i am never known this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9937784607","repostId":"1129633132","repostType":2,"repost":{"id":"1129633132","kind":"news","pubTimestamp":1663378125,"share":"https://ttm.financial/m/news/1129633132?lang=&edition=fundamental","pubTime":"2022-09-17 09:28","market":"us","language":"en","title":"Nvidia: Ethereum Merge Unleashes A Tsunami Of Used Graphics Cards","url":"https://stock-news.laohu8.com/highlight/detail?id=1129633132","media":"Seeking Alpha","summary":"SummaryEthereum completes its transition to proof-of-stake, ending lucrative and energy-consuming “m","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Ethereum completes its transition to proof-of-stake, ending lucrative and energy-consuming “mining”.</li><li>Correcting the Ethereum hash rate model to account for used graphics card sales accounts for Nvidia’s fiscal Q2 results.</li><li>The impact of the Merge on Nvidia’s sales will be, at best, ugly.</li><li>How will the Merge affect Nvidia’s expected RTX 40 series launch?</li><li>Investor takeaways: Will Nvidia need to restate guidance for this quarter?</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f531f7b392a181968ec72c4a8f89f8e\" tg-width=\"1080\" tg-height=\"613\" referrerpolicy=\"no-referrer\"/><span>vzphotos/iStock Editorial via Getty Images</span></p><p>The Ethereum Foundation, which manages the Ether cryptocurrency, has announced completion of what it calls the Merge, whereby validation of new blocks of transactions no longer takes place by &#34;mining&#34;. The millions of high-end graphics cards that are used for this will no longer beneeded for the new &#34;proof-of-stake&#34; approach, so that most of these will likely find their way into the used card market. This will depress demand for new graphics cards just when Nvidia (NASDAQ:NVDA) is set to announce its next-generation GeForce 40 series.</p><p><b>Ethereum completes its transition to proof-of-stake, ending lucrative and energy consuming &#34;mining&#34;</b></p><p>The transition of Ethereum to proof-of-stake was called the Merge because it involved combining the parallel block chain that was already using proof-of-stake experimentally with the main block chain that was using traditional mining, called proof-of-work. This is shown below in this diagram from the Ethereum Foundation:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4872c823bfeb3e06182d2d3f6ab87879\" tg-width=\"640\" tg-height=\"574\" referrerpolicy=\"no-referrer\"/><span>Ethereum.org</span></p><p>Mining was really just transaction processing, in which a number of Ethereum transactions would be bundled into a block and encrypted. But the encryption process was made artificially difficult, requiring millions of high end graphics cards in the mining pool to process a block in a reasonable period of time.</p><p>In the new proof-of-stake approach, the artificial difficulty is removed, so that hardware requirements can be met by almost any computer, ending the need for graphics card processing and the attendant energy consumption. Ethereum claims this will reduce energy consumption by 99.95%.</p><p>Some miners may go to work on a &#34;hard fork&#34; of Ethereum, in effect, a secession of the currency into a new one called EthereumPOW. This currency will continue to use proof-of-work, but it&#39;s unclear whether mining this will be profitable.</p><p>Probably, the vast majority of cards will go on the used card market and be sold on venues such as eBay.</p><p><b>Correcting the Ethereum hash rate model to account for used graphics card sales</b></p><p>Following Nvidia&#39;s revised guidance for its fiscal 2023 Q2, I realized that I needed to revise my model of Ethereum-related sales of graphics cards. I had published an article detailing the model in July.</p><p>The problem with the model was that it only accounted for sales into the Ethereum mining pool when the pool was adding capacity, i.e., adding new cards to the pool. It worked fine as long as the pool was still growing.</p><p>However, starting in mid-May, the Ethereum mining pool hash rate, a measure of mining capacity, started to decline, as shown in the following chart from BitInfoCharts:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fe36f2d53f47c0d7e5cdf964d09c67fa\" tg-width=\"640\" tg-height=\"408\" referrerpolicy=\"no-referrer\"/><span>BinInfoCharts</span></p><p>This implied that a substantial number of graphics cards were being removed from the pool. If I assumed that these cards were comparable to current generation Nvidia and AMD (AMD) cards, then it was reasonable to assume that every used card sold was a lost new card sale.</p><p>This turned out to account very well for Nvidia&#39;s fiscal Q2 results, if we assume that a normal quarterly revenue in Nvidia&#39;s Gaming segment is about $2.5 billion. During the Fiscal Q2 conference call, Nvidia specifically claimed that this would be their normal average Gaming segment revenue without crypto. In my spreadsheet calculations, it was easy to calculate the used card effect simply by allowing the change in mining pool cards to go negative, with a negative net revenue for the cards:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8223bcd7d3f44c30f5c60970c616fe0f\" tg-width=\"640\" tg-height=\"393\" referrerpolicy=\"no-referrer\"/><span>Mark Hibben</span></p><p>Note that the revenue impact doesn&#39;t only fall on Nvidia, but the timing of Nvidia&#39;s fiscal Q2 lined up better with the fall in Ethereum mining capacity and likely release of cards into the used card market. AMD will likely feel the impact in its Q3 results.</p><p><b>The impact of the Merge on Nvidia&#39;s sales will be, at best, ugly</b></p><p>The model provides a means of anticipating what happens when the Ethereum hash rate effectively goes to zero, post Merge. And it&#39;s not pretty. In an article on August 21, I gave my subscribers a heads-up concerning the impact of the Merge, and I further revised my model results on September 11.</p><p>If we assume that the entire mining pool consists of newer graphics cards released since September 2020 (RTX 30 series for Nvidia), then Nvidia&#39;s RTX 30 series sales for Q3 are completely wiped out, as shown in the spreadsheet calculations extended to Q3:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c00465fed542c67659f55786fcdf366b\" tg-width=\"640\" tg-height=\"358\" referrerpolicy=\"no-referrer\"/><span>Mark Hibben</span></p><p>The model deducts the hash rate contribution due to Nvidia Crypto Mining Processors (CMP). These cannot be sold into the used graphics cards market, since they lack display outputs.</p><p>This amounts to assuming that all of the cards used in mining before September 2020 (about when the RTX 30 series launched) were replaced with newer cards. This probably isn&#39;t absolutely correct, and the mining pool has consisted of a mixture of older and newer cards.</p><p>As a lower bound, we can assume that none of the older cards were replaced. These cards would not impact new card sales, since they aren&#39;t comparable to current generation cards. The model can deduct these cards from the calculated revenue impact by simply deducting the pre-September 2020 hash rate of 228.2361 terahash/sec (THASH) for the mining pool:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ac0a909d1edae7870adea14e3f987d28\" tg-width=\"640\" tg-height=\"351\" referrerpolicy=\"no-referrer\"/><span>Mark Hibben</span></p><p>So the lost revenue impact for Nvidia looks to be in the range of $2-3 billion, and it probably won&#39;t fall all in Q3 but be distributed over several quarters. The effect of the Merge is to effectively zero out Nvidia&#39;s crypto revenue over time. The revenue made during Ethereum&#39;s mining pool expansion is negated by lost revenue post Merge, with the exception of CMP revenue and revenue from older graphics cards that might still have been in the pool at the time of the Merge.</p><p><b>How will the Merge affect Nvidia&#39;s expected RTX 40 series launch?</b></p><p>Nvidia has been expected to announce its GeForce RTX 40 series cards for some time, and Nvidia posted this announcement on its website:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5c5990337b62c49447e21da39a199e14\" tg-width=\"640\" tg-height=\"400\" referrerpolicy=\"no-referrer\"/><span>Nvidia</span></p><p>Various tech pundits are claiming that this is the worst time for Nvidia to launch a new generation of gaming graphics cards. One important feature expected of the RTX 40 series is support for PCIE 5.0. This could be important in reducing the impact of the Ethereum Merge.</p><p>The current generation of Nvidia and AMD cards only support PCIE 4.0, the prevailing standard at the time of their introduction in late 2020. PCIE 5.0 will double the communication bandwidth compared to 4.0. It&#39;s not clear how critical that will be to gaming performance, but it should eliminate PCIE as a bottleneck, if it ever was.</p><p>Just as important, new generation CPUs will have to support PCIE 5.0, since the GPU is typically linked directly to the CPU through a built in PCIE 16 lane (x16) interface. This is the preferred architecture for maximum gaming performance, and all modern CPUs provide at least 16 lanes of PCIE for this purpose.</p><p>Intel (INTC) already supports PCIE 5.0 in its latest Alder Lake 12th generation Core series of desktop CPUs. Since Alder Lake launched early this year, there have been no PCIE 5.0 graphics cards to take advantage of the interface, but the current installed base of Alder Lake systems represents a waiting market for the new PCIE 5.0 cards.</p><p>Unfortunately, I don&#39;t have an estimate of Alder Lake sales, so I have no idea what the size of that market might be. Current generation AMD Ryzen 5000 series desktop CPUs only offer PCIE 4.0, but the Ryzen 7000 series has been announced with support for PCIE 5.0, with a launch expected in October. AMD&#39;s next-generation GPUs have only been &#34;teased&#34; but are expected to support PCIE 5.0 as well.</p><p>The performance desktop market (mostly gamers) is moving rapidly to PCIE 5.0, and Nvidia will have, at least for a few months, the only graphics cards that support it. Gamers tend to be early adopters and favor the highest performance technology.</p><p>Since<i>none</i>of the used cards released from the Merge will support PCIE 5.0, this may serve to somewhat isolate the RTX 40 series launch from the impact of the Merge. How much isolation is still unclear.</p><p>Most of the current population of gaming systems will only support PCIE 4.0, so this part of the market would probably not buy RTX 40 series in any case. Most 40 series sales will go into new system builds.</p><p>Certainly, the impact of the Merge will be to weaken sales of the RTX 40 series at launch. However, overall sales in the Gaming segment will probably benefit from the launch. The 40 series launch will give the segment a revenue stream it would not have had otherwise.</p><p><b>Investor takeaways: will Nvidia need to restate guidance for this quarter?</b></p><p>Nvidia guided to revenue of $5.9 billion for fiscal Q3 during the Q2 conference call, and this implies revenue in the gaming segment of about $1 billion. Did Nvidia account for the Merge in their guidance?</p><p>When asked specifically about the impact of the Merge, Nvidia management had no comment, and professed an inability to account for the crypto impact. The guidance was claimed to be due to a retail channel inventory glut.</p><p>If Nvidia really wasn&#39;t accounting for the Merge, then almost certainly it will need to restate guidance for Q3. Probably, the RTX 40 series launch will not be enough to provide the roughly $1 billion in Gaming segment revenue.</p><p>In my Nvidia integrated financial model, I&#39;m assuming a $3 billion hit due to the Merge and another $1 billion due to inventory correction. In the model, this is distributed over the next four quarters from fiscal 2023 Q3 to fiscal 2024 Q2, with Gaming segment sales only starting to recover in fiscal 2024 Q3.</p><p>Despite this, I&#39;m still modeling growth in the all-important Data Center segment. Nvidia&#39;s next-generation data center accelerator, the Hopper H100, is testing out to be very impressive and is in production now with deliveries expected by the end of the calendar year.</p><p>Hopper should ensure continued growth in the Data Center segment, and the advent of Grace, Nvidia&#39;s ARM architecture CPU for the data center, should further enhance growth. Data Center growth largely compensates for revenue declines expected in Gaming for this year and next, according to the model:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8026f845d3af92219bdc2bb1bc67be19\" tg-width=\"640\" tg-height=\"458\" referrerpolicy=\"no-referrer\"/><span>Mark Hibben</span></p><p>According to my long-term Discounted Cash Flow model, Nvidia has a fair value of $192. I consider Nvidia&#39;s future to be very bright, despite the impact of crypto in the near term.</p><p>Currently, I have Nvidia rated at Hold, and Nvidia has been a relatively small part of the Rethink Technology portfolio since selling most of my Nvidia shares (at a substantial profit) in April. I&#39;m pretty close to upgrading Nvidia to Buy, but I&#39;m waiting to see if the Merge (and possible guidance restatement) will drive Nvidia&#39;s price even lower.</p><p>Also, I&#39;m waiting to see what Nvidia has to offer in its new 40 series on September 20. Nvidia has consistently set the performance bar in the desktop graphics card market. Most likely, Nvidia is already undervalued.</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>Nvidia: Ethereum Merge Unleashes A Tsunami Of Used Graphics Cards</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\">\nNvidia: Ethereum Merge Unleashes A Tsunami Of Used Graphics Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-17 09:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4541459-nvidia-ethereum-merge-unleashes-tsunami-of-used-graphics-cards?source=content_type%3Areact%7Csection%3AAll%7Csection_asset%3AAnalysis%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A1><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryEthereum completes its transition to proof-of-stake, ending lucrative and energy-consuming “mining”.Correcting the Ethereum hash rate model to account for used graphics card sales accounts for ...</p>\n\n<a href=\"https://seekingalpha.com/article/4541459-nvidia-ethereum-merge-unleashes-tsunami-of-used-graphics-cards?source=content_type%3Areact%7Csection%3AAll%7Csection_asset%3AAnalysis%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4541459-nvidia-ethereum-merge-unleashes-tsunami-of-used-graphics-cards?source=content_type%3Areact%7Csection%3AAll%7Csection_asset%3AAnalysis%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129633132","content_text":"SummaryEthereum completes its transition to proof-of-stake, ending lucrative and energy-consuming “mining”.Correcting the Ethereum hash rate model to account for used graphics card sales accounts for Nvidia’s fiscal Q2 results.The impact of the Merge on Nvidia’s sales will be, at best, ugly.How will the Merge affect Nvidia’s expected RTX 40 series launch?Investor takeaways: Will Nvidia need to restate guidance for this quarter?vzphotos/iStock Editorial via Getty ImagesThe Ethereum Foundation, which manages the Ether cryptocurrency, has announced completion of what it calls the Merge, whereby validation of new blocks of transactions no longer takes place by \"mining\". The millions of high-end graphics cards that are used for this will no longer beneeded for the new \"proof-of-stake\" approach, so that most of these will likely find their way into the used card market. This will depress demand for new graphics cards just when Nvidia (NASDAQ:NVDA) is set to announce its next-generation GeForce 40 series.Ethereum completes its transition to proof-of-stake, ending lucrative and energy consuming \"mining\"The transition of Ethereum to proof-of-stake was called the Merge because it involved combining the parallel block chain that was already using proof-of-stake experimentally with the main block chain that was using traditional mining, called proof-of-work. This is shown below in this diagram from the Ethereum Foundation:Ethereum.orgMining was really just transaction processing, in which a number of Ethereum transactions would be bundled into a block and encrypted. But the encryption process was made artificially difficult, requiring millions of high end graphics cards in the mining pool to process a block in a reasonable period of time.In the new proof-of-stake approach, the artificial difficulty is removed, so that hardware requirements can be met by almost any computer, ending the need for graphics card processing and the attendant energy consumption. Ethereum claims this will reduce energy consumption by 99.95%.Some miners may go to work on a \"hard fork\" of Ethereum, in effect, a secession of the currency into a new one called EthereumPOW. This currency will continue to use proof-of-work, but it's unclear whether mining this will be profitable.Probably, the vast majority of cards will go on the used card market and be sold on venues such as eBay.Correcting the Ethereum hash rate model to account for used graphics card salesFollowing Nvidia's revised guidance for its fiscal 2023 Q2, I realized that I needed to revise my model of Ethereum-related sales of graphics cards. I had published an article detailing the model in July.The problem with the model was that it only accounted for sales into the Ethereum mining pool when the pool was adding capacity, i.e., adding new cards to the pool. It worked fine as long as the pool was still growing.However, starting in mid-May, the Ethereum mining pool hash rate, a measure of mining capacity, started to decline, as shown in the following chart from BitInfoCharts:BinInfoChartsThis implied that a substantial number of graphics cards were being removed from the pool. If I assumed that these cards were comparable to current generation Nvidia and AMD (AMD) cards, then it was reasonable to assume that every used card sold was a lost new card sale.This turned out to account very well for Nvidia's fiscal Q2 results, if we assume that a normal quarterly revenue in Nvidia's Gaming segment is about $2.5 billion. During the Fiscal Q2 conference call, Nvidia specifically claimed that this would be their normal average Gaming segment revenue without crypto. In my spreadsheet calculations, it was easy to calculate the used card effect simply by allowing the change in mining pool cards to go negative, with a negative net revenue for the cards:Mark HibbenNote that the revenue impact doesn't only fall on Nvidia, but the timing of Nvidia's fiscal Q2 lined up better with the fall in Ethereum mining capacity and likely release of cards into the used card market. AMD will likely feel the impact in its Q3 results.The impact of the Merge on Nvidia's sales will be, at best, uglyThe model provides a means of anticipating what happens when the Ethereum hash rate effectively goes to zero, post Merge. And it's not pretty. In an article on August 21, I gave my subscribers a heads-up concerning the impact of the Merge, and I further revised my model results on September 11.If we assume that the entire mining pool consists of newer graphics cards released since September 2020 (RTX 30 series for Nvidia), then Nvidia's RTX 30 series sales for Q3 are completely wiped out, as shown in the spreadsheet calculations extended to Q3:Mark HibbenThe model deducts the hash rate contribution due to Nvidia Crypto Mining Processors (CMP). These cannot be sold into the used graphics cards market, since they lack display outputs.This amounts to assuming that all of the cards used in mining before September 2020 (about when the RTX 30 series launched) were replaced with newer cards. This probably isn't absolutely correct, and the mining pool has consisted of a mixture of older and newer cards.As a lower bound, we can assume that none of the older cards were replaced. These cards would not impact new card sales, since they aren't comparable to current generation cards. The model can deduct these cards from the calculated revenue impact by simply deducting the pre-September 2020 hash rate of 228.2361 terahash/sec (THASH) for the mining pool:Mark HibbenSo the lost revenue impact for Nvidia looks to be in the range of $2-3 billion, and it probably won't fall all in Q3 but be distributed over several quarters. The effect of the Merge is to effectively zero out Nvidia's crypto revenue over time. The revenue made during Ethereum's mining pool expansion is negated by lost revenue post Merge, with the exception of CMP revenue and revenue from older graphics cards that might still have been in the pool at the time of the Merge.How will the Merge affect Nvidia's expected RTX 40 series launch?Nvidia has been expected to announce its GeForce RTX 40 series cards for some time, and Nvidia posted this announcement on its website:NvidiaVarious tech pundits are claiming that this is the worst time for Nvidia to launch a new generation of gaming graphics cards. One important feature expected of the RTX 40 series is support for PCIE 5.0. This could be important in reducing the impact of the Ethereum Merge.The current generation of Nvidia and AMD cards only support PCIE 4.0, the prevailing standard at the time of their introduction in late 2020. PCIE 5.0 will double the communication bandwidth compared to 4.0. It's not clear how critical that will be to gaming performance, but it should eliminate PCIE as a bottleneck, if it ever was.Just as important, new generation CPUs will have to support PCIE 5.0, since the GPU is typically linked directly to the CPU through a built in PCIE 16 lane (x16) interface. This is the preferred architecture for maximum gaming performance, and all modern CPUs provide at least 16 lanes of PCIE for this purpose.Intel (INTC) already supports PCIE 5.0 in its latest Alder Lake 12th generation Core series of desktop CPUs. Since Alder Lake launched early this year, there have been no PCIE 5.0 graphics cards to take advantage of the interface, but the current installed base of Alder Lake systems represents a waiting market for the new PCIE 5.0 cards.Unfortunately, I don't have an estimate of Alder Lake sales, so I have no idea what the size of that market might be. Current generation AMD Ryzen 5000 series desktop CPUs only offer PCIE 4.0, but the Ryzen 7000 series has been announced with support for PCIE 5.0, with a launch expected in October. AMD's next-generation GPUs have only been \"teased\" but are expected to support PCIE 5.0 as well.The performance desktop market (mostly gamers) is moving rapidly to PCIE 5.0, and Nvidia will have, at least for a few months, the only graphics cards that support it. Gamers tend to be early adopters and favor the highest performance technology.Sincenoneof the used cards released from the Merge will support PCIE 5.0, this may serve to somewhat isolate the RTX 40 series launch from the impact of the Merge. How much isolation is still unclear.Most of the current population of gaming systems will only support PCIE 4.0, so this part of the market would probably not buy RTX 40 series in any case. Most 40 series sales will go into new system builds.Certainly, the impact of the Merge will be to weaken sales of the RTX 40 series at launch. However, overall sales in the Gaming segment will probably benefit from the launch. The 40 series launch will give the segment a revenue stream it would not have had otherwise.Investor takeaways: will Nvidia need to restate guidance for this quarter?Nvidia guided to revenue of $5.9 billion for fiscal Q3 during the Q2 conference call, and this implies revenue in the gaming segment of about $1 billion. Did Nvidia account for the Merge in their guidance?When asked specifically about the impact of the Merge, Nvidia management had no comment, and professed an inability to account for the crypto impact. The guidance was claimed to be due to a retail channel inventory glut.If Nvidia really wasn't accounting for the Merge, then almost certainly it will need to restate guidance for Q3. Probably, the RTX 40 series launch will not be enough to provide the roughly $1 billion in Gaming segment revenue.In my Nvidia integrated financial model, I'm assuming a $3 billion hit due to the Merge and another $1 billion due to inventory correction. In the model, this is distributed over the next four quarters from fiscal 2023 Q3 to fiscal 2024 Q2, with Gaming segment sales only starting to recover in fiscal 2024 Q3.Despite this, I'm still modeling growth in the all-important Data Center segment. Nvidia's next-generation data center accelerator, the Hopper H100, is testing out to be very impressive and is in production now with deliveries expected by the end of the calendar year.Hopper should ensure continued growth in the Data Center segment, and the advent of Grace, Nvidia's ARM architecture CPU for the data center, should further enhance growth. Data Center growth largely compensates for revenue declines expected in Gaming for this year and next, according to the model:Mark HibbenAccording to my long-term Discounted Cash Flow model, Nvidia has a fair value of $192. I consider Nvidia's future to be very bright, despite the impact of crypto in the near term.Currently, I have Nvidia rated at Hold, and Nvidia has been a relatively small part of the Rethink Technology portfolio since selling most of my Nvidia shares (at a substantial profit) in April. I'm pretty close to upgrading Nvidia to Buy, but I'm waiting to see if the Merge (and possible guidance restatement) will drive Nvidia's price even lower.Also, I'm waiting to see what Nvidia has to offer in its new 40 series on September 20. Nvidia has consistently set the performance bar in the desktop graphics card market. Most likely, Nvidia is already undervalued.","news_type":1},"isVote":1,"tweetType":1,"viewCount":487,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9070476269,"gmtCreate":1657099443851,"gmtModify":1676535949140,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD 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stock&nbsp;","listText":"Can stop my stock&nbsp;","text":"Can stop my stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9070711660","repostId":"1147011338","repostType":4,"isVote":1,"tweetType":1,"viewCount":542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9070227563,"gmtCreate":1657068620752,"gmtModify":1676535943278,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD 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there","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045453202","repostId":"1184596290","repostType":4,"isVote":1,"tweetType":1,"viewCount":293,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9910007459,"gmtCreate":1663530400472,"gmtModify":1676537282589,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD MONIR","avatar":"https://community-static.tradeup.com/news/5170acd9e569d80a38fdc5428e5a979c","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4118616564972632","authorIdStr":"4118616564972632"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>","listText":"<a href=\"https://ttm.financial/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>","text":"$GENTING SINGAPORE LIMITED(G13.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9910007459","isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9937653917,"gmtCreate":1663427432740,"gmtModify":1676537269220,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD MONIR","avatar":"https://community-static.tradeup.com/news/5170acd9e569d80a38fdc5428e5a979c","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4118616564972632","authorIdStr":"4118616564972632"},"themes":[],"htmlText":"How do do this apps&nbsp;","listText":"How do do this apps&nbsp;","text":"How do do this apps","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9937653917","isVote":1,"tweetType":1,"viewCount":424,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9079482498,"gmtCreate":1657236847414,"gmtModify":1676535974259,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD MONIR","avatar":"https://community-static.tradeup.com/news/5170acd9e569d80a38fdc5428e5a979c","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4118616564972632","authorIdStr":"4118616564972632"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>View on Tesla Motors(TSLA)BullishBearish","listText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>View on Tesla Motors(TSLA)BullishBearish","text":"$Tesla Motors(TSLA)$View on Tesla Motors(TSLA)BullishBearish","images":[{"img":"https://community-static.tradeup.com/news/50a4d058324807c1f80888bdbd39db8f","width":"1242","height":"2445"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9079482498","isVote":1,"tweetType":1,"viewCount":412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9079243495,"gmtCreate":1657208724917,"gmtModify":1676535969925,"author":{"id":"4118616564972632","authorId":"4118616564972632","name":"MD 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after losing favor among the pros</li><li>‘VIX hedging hasn’t worked like you’d expect’: Danny Kirsch</li></ul><p>(Bloomberg) -- Volatility traders are putting their guard up just as US stocks bounce back, with options signaling the highest level of anxiety since right before the 2020 pandemic crash.</p><p>The call-put ratio on the Cboe Volatility Index, or VIX, jumped Wednesday to levels unseen for some two and a half years, driven by bets on fresh market turmoil.</p><p>Options hedging is showing signs of revival after staying subdued during the recent equity selloff. The rush for protection reflects investor uneasiness in the face of the S&amp;P 500’s longest streak of gains in three months.</p><p>With a cost measure of VIX options hovering near the lowest level since 2019, traders are likely taking advantage of what looks like cheap insurance against the next bout of market chaos.</p><p>The hedging activity stands out given the fact that the VIX, known as Wall Street’s fear gauge, failed to hit new highs since March even as the S&amp;P 500 careened to fresh lows.</p><p>“VIX hedging hasn’t worked like you’d expect,” said Danny Kirsch, head of options at Piper Sandler &amp; Co. “Implied volatility moves have been muted all year. It’s been a terrible hedge so far.”</p><p><img src=\"https://static.tigerbbs.com/f0cb54d9b72900181f64930bcd6546e4\" tg-width=\"698\" tg-height=\"392\" width=\"100%\" height=\"auto\"/></p><p>Before this month, there were signs that professional investors were shunning equity options and instead flocking to stock futures to hedge positions.</p><p>Now, demand for options appears to be back. More than 440,000 VIX calls changed hands Wednesday, outpacing puts by a margin of 5.8-to-1. That’s the highest reading since January 2020.</p><p>The VIX fell for a second day, slipping to 25.91 as of 10:43 a.m. in New York, poised for a one-month low.</p><p>Stocks advanced for a fourth day. Despite the bounce, the S&amp;P 500 is down about 18% this year as investors reassess equity valuations in light of the Federal Reserve’s aggressive plan to tighten monetary policy.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>VIX Traders Are Piling Into Bets That Fresh Stock Pain Is Ahead</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\">\nVIX Traders Are Piling Into Bets That Fresh Stock Pain Is Ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-07 23:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-07-07/vix-traders-are-piling-into-bets-that-fresh-stock-pain-is-ahead><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Options hedging returns after losing favor among the pros‘VIX hedging hasn’t worked like you’d expect’: Danny Kirsch(Bloomberg) -- Volatility traders are putting their guard up just as US stocks ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-07-07/vix-traders-are-piling-into-bets-that-fresh-stock-pain-is-ahead\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VXX":"短期VIX期货ETN","VIX":"标普500波动率指数"},"source_url":"https://www.bloomberg.com/news/articles/2022-07-07/vix-traders-are-piling-into-bets-that-fresh-stock-pain-is-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105427498","content_text":"Options hedging returns after losing favor among the pros‘VIX hedging hasn’t worked like you’d expect’: Danny Kirsch(Bloomberg) -- Volatility traders are putting their guard up just as US stocks bounce back, with options signaling the highest level of anxiety since right before the 2020 pandemic crash.The call-put ratio on the Cboe Volatility Index, or VIX, jumped Wednesday to levels unseen for some two and a half years, driven by bets on fresh market turmoil.Options hedging is showing signs of revival after staying subdued during the recent equity selloff. The rush for protection reflects investor uneasiness in the face of the S&P 500’s longest streak of gains in three months.With a cost measure of VIX options hovering near the lowest level since 2019, traders are likely taking advantage of what looks like cheap insurance against the next bout of market chaos.The hedging activity stands out given the fact that the VIX, known as Wall Street’s fear gauge, failed to hit new highs since March even as the S&P 500 careened to fresh lows.“VIX hedging hasn’t worked like you’d expect,” said Danny Kirsch, head of options at Piper Sandler & Co. “Implied volatility moves have been muted all year. It’s been a terrible hedge so far.”Before this month, there were signs that professional investors were shunning equity options and instead flocking to stock futures to hedge positions.Now, demand for options appears to be back. More than 440,000 VIX calls changed hands Wednesday, outpacing puts by a margin of 5.8-to-1. That’s the highest reading since January 2020.The VIX fell for a second day, slipping to 25.91 as of 10:43 a.m. in New York, poised for a one-month low.Stocks advanced for a fourth day. Despite the bounce, the S&P 500 is down about 18% this year as investors reassess equity valuations in light of the Federal Reserve’s aggressive plan to tighten monetary policy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":383,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}