TigerMum personal page - To The Moon

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04-01

2022-10-30

👌

Bulls And Bears Of The Week: Meta, Apple, Microsoft, And Why Developments At Twitter Could Be Good News For Dogecoin

2022-10-31

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Will The Fed Push The S&P 500 Over 4000?

2022-11-02

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Amazon Closes Below $1 Trillion in Market Value for First Time Since 2020

2023-03-06

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Pre-Bell｜Dow Futures Slid 25 Points; This Networking Stock Surged Over 12%

2022-11-03

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US STOCKS-Wall Street Closes Sharply Lower As Powell Signals Fed Not Done

2022-07-07

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Federal Reserve Officials Saw Potential to Be More Hawkish If Inflation Persists

2022-07-06

Lai liao

U.S. Oil Just Tumbled below $100 a Barrel -- What That Says about Recession Fears and Tight Crude Supplies

2022-07-03

Big expected drop

Tesla Q2 Deliveries Slump To 254,695 Amid Supply Chain, Pandemic Problems

2022-07-02

Just to note Warren Buffet is human and sometimes makes mistakes too

3 Warren Buffett Stocks to Buy Hand Over Fist in July

2022-07-04

My guess is as good as yours

Exxon: How Much Higher Can It Go?

2022-07-01

Nice lah STI

Tiger Chart | None of the World's Major Stock Indexes Rose in H1 2022, Nasdaq Tumbled Nearly 30%

2022-10-29

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US STOCKS-Wall Street Surges to Sharply Higher Close Ahead of Fed Week

2022-07-23

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@Success88:$STMicroelectronics NV(STM)$Waiting STM to drop and check in. Why? This company is chip maker and had potential to grow. With many automotive product lineup. The future is automotive business. I would like the share price to drop a little lower then I check in. My Target price is at $30. Recently read some articles related to car battery and start notice this company. @Daily_Discussion

2022-06-30

Thanks

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

2023-01-16

[Happy] [Miser] [What] [Cool]

2023-01-02

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2022-07-05

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7 Deeply Undervalued Growth Stocks to Buy Now

2022-06-28

👍

Occidental Shares Gained 2% in Premarket Trading

2023-04-06

How to get Disney share without inviting friend

Go to Tiger App to see more news

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are the prizes you guys are going for?","listText":"What are the prizes you guys are going for?","text":"What are the prizes you guys are going for?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/258616396701952","isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":258247549579464,"gmtCreate":1704082712817,"gmtModify":1704082716904,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Happy new year everyone!","listText":"Happy new year everyone!","text":"Happy new year everyone!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/258247549579464","isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":290640455000320,"gmtCreate":1711983152395,"gmtModify":1711983157824,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$ </a>&nbsp;","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$ </a>&nbsp;","text":"$Apple(AAPL)$","images":[{"img":"https://community-static.tradeup.com/news/f50defc1540d0cbb573ec0b7426cb489","width":"882","height":"1608"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/290640455000320","isVote":1,"tweetType":1,"viewCount":118,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4171900329979952","authorId":"4171900329979952","name":"Barcode","avatar":"https://community-static.tradeup.com/news/6688d8fb4c2a255e3b901e79755e56df","crmLevel":1,"crmLevelSwitch":0},"content":"Should be looking even better now, hopefully you are still holding 🍎😃","text":"Should be looking even better now, hopefully you are still holding 🍎😃","html":"Should be looking even better now, hopefully you are still holding 🍎😃"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9982976031,"gmtCreate":1667091924524,"gmtModify":1676537858695,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/9982976031","repostId":"1190202531","repostType":4,"repost":{"id":"1190202531","pubTimestamp":1667091777,"share":"https://www.laohu8.com/m/news/1190202531?lang=&edition=full","pubTime":"2022-10-30 09:02","market":"us","language":"en","title":"Bulls And Bears Of The Week: Meta, Apple, Microsoft, And Why Developments At Twitter Could Be Good News For Dogecoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1190202531","media":"Benzinga","summary":"ZINGER KEY POINTSTwitter is reportedly working on a cryptocurrency wallet, which may support the use","content":"<html><head></head><body><p><b>ZINGER KEY POINTS</b></p><ul><li>Twitter is reportedly working on a cryptocurrency wallet, which may support the use of Dogecoin, Elon Musk&#39;s favorite crypto.</li><li>As Meta&#39;s stock of plunges, short sellers have now generated more than $6 billion in profits year-to-date</li></ul><p>Benzinga examined the prospects for many investors&#39; favorite stocks over the last week — here&#39;s a look at some of our top stories.</p><p>The Dow Jones Industrial Average rallied on Friday, finishing the week 5.37% higher and closing out its fourth straight week of gains, despite some disappointing big tech earnings reports.</p><p>The S&amp;P 500 was up 3.70% for the week, while the Nasdaq Composite gained 2.17%.</p><p>Some of the week&#39;s highlights included the Bureau of Economic Analysis on Thursday reporting that U.S. GDP grew 2.6% in the third quarter, and Friday marked the completion of Tesla CEO <b>Elon Musk&#39;s</b> $44-billion buyout of social media platform Twitter.</p><p>Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week&#39;s most bullish and bearish posts that are worth another look.</p><p><b>The Bulls</b></p><p>&#34;Watch Out Tesla: Here&#39;s How Many Electric Vehicles General Motors Sold In The Third Quarter,&#34; by Chris Katje, details the growing number of electric vehicles <b>General Motors Company</b> reported selling in the third quarter.</p><p>In &#34;Elon Musk&#39;s Love Affair With Dogecoin Continues As Twitter Considers Crypto Wallet,&#34; AJ Fabino writes that <b>Twitter Inc</b> is reportedly working on a cryptocurrency wallet, which may support the use of <b>Dogecoin</b>, <b>Elon Musk&#39;s</b> favorite crypto.</p><p>&#34;You Can Now Get A New Apple Mac Every 3 Years With Monthly Payments — Thanks To BestBuy,&#34; by Ananya Gairola, reports that <b>Best Buy Co Inc</b> announced a Mac equivalent of <b>Apple Inc’s</b> iPhone Upgrade Program, allowing users to lease a laptop over three years.</p><p><b>The Bears</b></p><p>&#34;Meta Platforms Is Now The 2nd Most Profitable Stock For Short Sellers In 2022, Behind Only Tesla,&#34; by Wayne Duggan, notes that as the price of<b>Meta Platforms Inc&#39;s</b> stock plunges, short sellers have now generated more than $6 billion in profits year-to-date.</p><p>In &#34;Microsoft Sees Dark Clouds Forming Over Azure Business Amid PC Market Slump,&#34; Shivdeep Dhaliwal writes that <b>Microsoft Corp</b> during its first quarter earnings call this week lowered expectations that cloud computing demand would mitigate the sagging PC market.</p><p>&#34;Tesla Bull Cuts Price Target: Geopolitical Woes And US-China Economic Relations To Keep Shares Volatile,&#34; by Shanthi Rexaline, explains why Morgan Stanley analyst and <b>Tesla Inc</b> bull Adam Jonas lowered his price target for Tesla shares from $350 to $330.</p><p></p></body></html>","source":"lsy1606299360108","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>Bulls And Bears Of The Week: Meta, Apple, Microsoft, And Why Developments At Twitter Could Be Good News For Dogecoin</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\">\nBulls And Bears Of The Week: Meta, Apple, Microsoft, And Why Developments At Twitter Could Be Good News For Dogecoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-30 09:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/trading-ideas/long-ideas/22/10/29468466/bulls-and-bears-of-the-week-meta-apple-microsoft-and-why-developments-at-twitter-could-b><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ZINGER KEY POINTSTwitter is reportedly working on a cryptocurrency wallet, which may support the use of Dogecoin, Elon Musk's favorite crypto.As Meta's stock of plunges, short sellers have now ...</p>\n\n<a href=\"https://www.benzinga.com/trading-ideas/long-ideas/22/10/29468466/bulls-and-bears-of-the-week-meta-apple-microsoft-and-why-developments-at-twitter-could-b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","MSFT":"微软","META":"Meta Platforms"},"source_url":"https://www.benzinga.com/trading-ideas/long-ideas/22/10/29468466/bulls-and-bears-of-the-week-meta-apple-microsoft-and-why-developments-at-twitter-could-b","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190202531","content_text":"ZINGER KEY POINTSTwitter is reportedly working on a cryptocurrency wallet, which may support the use of Dogecoin, Elon Musk's favorite crypto.As Meta's stock of plunges, short sellers have now generated more than $6 billion in profits year-to-dateBenzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.The Dow Jones Industrial Average rallied on Friday, finishing the week 5.37% higher and closing out its fourth straight week of gains, despite some disappointing big tech earnings reports.The S&P 500 was up 3.70% for the week, while the Nasdaq Composite gained 2.17%.Some of the week's highlights included the Bureau of Economic Analysis on Thursday reporting that U.S. GDP grew 2.6% in the third quarter, and Friday marked the completion of Tesla CEO Elon Musk's $44-billion buyout of social media platform Twitter.Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.The Bulls\"Watch Out Tesla: Here's How Many Electric Vehicles General Motors Sold In The Third Quarter,\" by Chris Katje, details the growing number of electric vehicles General Motors Company reported selling in the third quarter.In \"Elon Musk's Love Affair With Dogecoin Continues As Twitter Considers Crypto Wallet,\" AJ Fabino writes that Twitter Inc is reportedly working on a cryptocurrency wallet, which may support the use of Dogecoin, Elon Musk's favorite crypto.\"You Can Now Get A New Apple Mac Every 3 Years With Monthly Payments — Thanks To BestBuy,\" by Ananya Gairola, reports that Best Buy Co Inc announced a Mac equivalent of Apple Inc’s iPhone Upgrade Program, allowing users to lease a laptop over three years.The Bears\"Meta Platforms Is Now The 2nd Most Profitable Stock For Short Sellers In 2022, Behind Only Tesla,\" by Wayne Duggan, notes that as the price ofMeta Platforms Inc's stock plunges, short sellers have now generated more than $6 billion in profits year-to-date.In \"Microsoft Sees Dark Clouds Forming Over Azure Business Amid PC Market Slump,\" Shivdeep Dhaliwal writes that Microsoft Corp during its first quarter earnings call this week lowered expectations that cloud computing demand would mitigate the sagging PC market.\"Tesla Bull Cuts Price Target: Geopolitical Woes And US-China Economic Relations To Keep Shares Volatile,\" by Shanthi Rexaline, explains why Morgan Stanley analyst and Tesla Inc bull Adam Jonas lowered his price target for Tesla shares from $350 to $330.","news_type":1},"isVote":1,"tweetType":1,"viewCount":204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982578122,"gmtCreate":1667222567366,"gmtModify":1676537879915,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9982578122","repostId":"1169258680","repostType":4,"repost":{"id":"1169258680","pubTimestamp":1667230136,"share":"https://www.laohu8.com/m/news/1169258680?lang=&edition=full","pubTime":"2022-10-31 23:28","market":"us","language":"en","title":"Will The Fed Push The S&P 500 Over 4000?","url":"https://stock-news.laohu8.com/highlight/detail?id=1169258680","media":"Forbes","summary":"In the past three weeks the stock market has rallied from recent lows, in the context of extreme bearish sentiment. Not unlike the rallies we saw at the beginning of the second quarter and during Augu","content":"<html><head></head><body><p>In the past three weeks the stock market has rallied from recent lows, in the context of extreme bearish sentiment. Not unlike the rallies we saw at the beginning of the second quarter and during August the expectation is that we now enjoy a bear market rally into the end of this year.</p><p>There are several factors to support this. First positioning is extremely bearish not just in the stock market where hedge funds are holding record short levels of futures but also in the options market where a great number of put option positions have been accumulated.</p><h2>Risk appetite</h2><p>Behind this a number of risk appetite indicators are still in very risk averse territory suggesting that on balance many investors are positioned for bad news. What is interesting here is that the stock market and the bond market have effectively stopped reacting to bad news.</p><p>The earnings season has been a case in point both <a href=\"https://laohu8.com/S/AMZN\">Amazon</a> and Meta or the old Facebook were severely marked down on earnings disappointments as were <a href=\"https://laohu8.com/S/GOOG\">Google</a> and <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> during last week&#39;s critical week for tech earnings but the broad market index rallied, in particular the Dow Jones index was very strong.</p><p>This suggests that the stock market is moving on from some of the concerns it had earlier this year, also with inflation still high there are signs that bond yields are coming in from the extreme high levels of the past couple of weeks - the 10 year bond is now close to the 4% level, a level that&#39;s still painful for stocks, but it has arguably hit a recent high.</p><h2>Earnings</h2><p>Importantly the dollar has softened and in many cases this year currency markets have prefigured stress across other asset classes so the case is building for a bear market rally into the end of the year. Seasonally also November December tend to be quite a strong periods for the stock market particularly in the case of bull markets - which however this is not.</p><p>There&#39;s a number of other factors to consider this week we have the Fed meeting there were expectations of a Fed pivot or even a pause that they&#39;ll do a 50 basis point rise in interest rates and then stop and watch as the data comes in and a lot of cyclical data has been softening suggesting that the economy is beginning to slow and the Fed can expect this to have a downward pressure on consumer and service prices.</p><p>In terms of market action the most likely factor is that volatility comes down for the time being and this will hurt a lot of people playing in the options market - a lot of people who&#39;ve hedged and in turn it may have a technical upward pressure on the stock market and it would be no surprise for me to see the S&amp;P index trade up to and maybe a little bit beyond the 4000 level.</p><p>What does worry me looking out over the next six months is that in the context of a lot of geopolitical stress and growing damage to economy - not just in Europe where Germany is suffering but many emerging markets from Turkey to some across Asia Latin America the housing market in the US is that in the beginning of next year we go into a form of a credit crisis where huge levels of accumulated debt on country balance sheets company balance sheets and consumer balance sheets are troubled by the catalyst of high inflation and high interest rates and this in its own way produces a deeper economic and financial crisis and then we get some real volatility.</p></body></html>","source":"fors","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>Will The Fed Push The S&P 500 Over 4000?</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\">\nWill The Fed Push The S&P 500 Over 4000?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-31 23:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.forbes.com/sites/mikeosullivan/2022/10/30/will-the-fed-push-the-sp-500-over-4000/?sh=3e8a160c1de3><strong>Forbes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In the past three weeks the stock market has rallied from recent lows, in the context of extreme bearish sentiment. Not unlike the rallies we saw at the beginning of the second quarter and during ...</p>\n\n<a href=\"https://www.forbes.com/sites/mikeosullivan/2022/10/30/will-the-fed-push-the-sp-500-over-4000/?sh=3e8a160c1de3\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.forbes.com/sites/mikeosullivan/2022/10/30/will-the-fed-push-the-sp-500-over-4000/?sh=3e8a160c1de3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169258680","content_text":"In the past three weeks the stock market has rallied from recent lows, in the context of extreme bearish sentiment. Not unlike the rallies we saw at the beginning of the second quarter and during August the expectation is that we now enjoy a bear market rally into the end of this year.There are several factors to support this. First positioning is extremely bearish not just in the stock market where hedge funds are holding record short levels of futures but also in the options market where a great number of put option positions have been accumulated.Risk appetiteBehind this a number of risk appetite indicators are still in very risk averse territory suggesting that on balance many investors are positioned for bad news. What is interesting here is that the stock market and the bond market have effectively stopped reacting to bad news.The earnings season has been a case in point both Amazon and Meta or the old Facebook were severely marked down on earnings disappointments as were Google and Microsoft during last week's critical week for tech earnings but the broad market index rallied, in particular the Dow Jones index was very strong.This suggests that the stock market is moving on from some of the concerns it had earlier this year, also with inflation still high there are signs that bond yields are coming in from the extreme high levels of the past couple of weeks - the 10 year bond is now close to the 4% level, a level that's still painful for stocks, but it has arguably hit a recent high.EarningsImportantly the dollar has softened and in many cases this year currency markets have prefigured stress across other asset classes so the case is building for a bear market rally into the end of the year. Seasonally also November December tend to be quite a strong periods for the stock market particularly in the case of bull markets - which however this is not.There's a number of other factors to consider this week we have the Fed meeting there were expectations of a Fed pivot or even a pause that they'll do a 50 basis point rise in interest rates and then stop and watch as the data comes in and a lot of cyclical data has been softening suggesting that the economy is beginning to slow and the Fed can expect this to have a downward pressure on consumer and service prices.In terms of market action the most likely factor is that volatility comes down for the time being and this will hurt a lot of people playing in the options market - a lot of people who've hedged and in turn it may have a technical upward pressure on the stock market and it would be no surprise for me to see the S&P index trade up to and maybe a little bit beyond the 4000 level.What does worry me looking out over the next six months is that in the context of a lot of geopolitical stress and growing damage to economy - not just in Europe where Germany is suffering but many emerging markets from Turkey to some across Asia Latin America the housing market in the US is that in the beginning of next year we go into a form of a credit crisis where huge levels of accumulated debt on country balance sheets company balance sheets and consumer balance sheets are troubled by the catalyst of high inflation and high interest rates and this in its own way produces a deeper economic and financial crisis and then we get some real volatility.","news_type":1},"isVote":1,"tweetType":1,"viewCount":46,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9985831705,"gmtCreate":1667350456107,"gmtModify":1676537902322,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9985831705","repostId":"2280425093","repostType":4,"repost":{"id":"2280425093","pubTimestamp":1667349152,"share":"https://www.laohu8.com/m/news/2280425093?lang=&edition=full","pubTime":"2022-11-02 08:32","market":"us","language":"en","title":"Amazon Closes Below $1 Trillion in Market Value for First Time Since 2020","url":"https://stock-news.laohu8.com/highlight/detail?id=2280425093","media":"Bloomberg","summary":"A weak forecast contributed to a five-day drop for the stockTech has slumped this year on concerns o","content":"<html><head></head><body><ul><li>A weak forecast contributed to a five-day drop for the stock</li><li>Tech has slumped this year on concerns over growth, rates</li></ul><p>Amazon.com Inc. shares fell on Tuesday, with the e-commerce and cloud-computing company closing below $1 trillion in market value for the first time since the early days of the Covid-19 pandemic more than two years ago.</p><p>The stock fell 5.5% to end at $96.79, representing a market capitalization of $987.4 billion. Shares closed at their lowest level since April 2020, and have dropped 42% this year. At its Nov. 18 peak, Amazon boasted a market cap of nearly $1.9 trillion.</p><p>It was the fifth straight negative session for Amazon -- down about 20% over the period. Meanwhile, the Nasdaq 100 Index fell 1% on Tuesday.</p><p>Recent weakness was spurred by the Seattle company’s earnings report last week, when it projected the slowest holiday-quarter growth in its history. Amazon, which had posted record profits during the pandemic, said sales would increase by only 2% to 8% during what has traditionally been its peak season.</p><p>Amazon, along with most other major technology and internet stocks, has been pressured throughout 2022 by concerns over slowing growth and rising interest rates. The economic uncertainty has weighed on the multiples of high-valuation stocks.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon Closes Below $1 Trillion in Market Value for First Time Since 2020</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Closes Below $1 Trillion in Market Value for First Time Since 2020\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-02 08:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/amazon-closes-below-1-trillion-204439368.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A weak forecast contributed to a five-day drop for the stockTech has slumped this year on concerns over growth, ratesAmazon.com Inc. shares fell on Tuesday, with the e-commerce and cloud-computing ...</p>\n\n<a href=\"https://finance.yahoo.com/news/amazon-closes-below-1-trillion-204439368.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0109392836.USD":"富兰克林科技股A","BK4524":"宅经济概念","BK4535":"淡马锡持仓","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","BK4538":"云计算","BK4527":"明星科技股","BK4550":"红杉资本持仓","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","BK4122":"互联网与直销零售","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4548":"巴美列捷福持仓","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0061474960.USD":"天利环球焦点基金AU Acc","AMZN":"亚马逊","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0109391861.USD":"富兰克林美国机遇基金A Acc","BK4554":"元宇宙及AR概念","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","BK4532":"文艺复兴科技持仓","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU0079474960.USD":"联博美国增长基金A","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC"},"source_url":"https://finance.yahoo.com/news/amazon-closes-below-1-trillion-204439368.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2280425093","content_text":"A weak forecast contributed to a five-day drop for the stockTech has slumped this year on concerns over growth, ratesAmazon.com Inc. shares fell on Tuesday, with the e-commerce and cloud-computing company closing below $1 trillion in market value for the first time since the early days of the Covid-19 pandemic more than two years ago.The stock fell 5.5% to end at $96.79, representing a market capitalization of $987.4 billion. Shares closed at their lowest level since April 2020, and have dropped 42% this year. At its Nov. 18 peak, Amazon boasted a market cap of nearly $1.9 trillion.It was the fifth straight negative session for Amazon -- down about 20% over the period. Meanwhile, the Nasdaq 100 Index fell 1% on Tuesday.Recent weakness was spurred by the Seattle company’s earnings report last week, when it projected the slowest holiday-quarter growth in its history. Amazon, which had posted record profits during the pandemic, said sales would increase by only 2% to 8% during what has traditionally been its peak season.Amazon, along with most other major technology and internet stocks, has been pressured throughout 2022 by concerns over slowing growth and rising interest rates. The economic uncertainty has weighed on the multiples of high-valuation stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940480950,"gmtCreate":1678110580270,"gmtModify":1678110584490,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940480950","repostId":"1146020814","repostType":4,"repost":{"id":"1146020814","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":1678107133,"share":"https://www.laohu8.com/m/news/1146020814?lang=&edition=full","pubTime":"2023-03-06 20:52","market":"other","language":"en","title":"Pre-Bell｜Dow Futures Slid 25 Points; This Networking Stock Surged Over 12%","url":"https://stock-news.laohu8.com/highlight/detail?id=1146020814","media":"Tiger Newspress","summary":"U.S. stock futures were flat Monday as Wall Street looked ahead to a week filled with economic data ","content":"<html><head></head><body><p>U.S. stock futures were flat Monday as Wall Street looked ahead to a week filled with economic data and the latest commentary from the Federal Reserve.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were down 25 points, or 0.07%, S&amp;P 500 e-minis were down 1 point, or 0.02%, and Nasdaq 100 e-minis were up 5.75 points, or 0.05%.</p><p><img src=\"https://static.tigerbbs.com/ad98912cf485da9eea758e845ecb95ba\" tg-width=\"262\" tg-height=\"139\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> -- The company rose slightly in premarket trading after the electric-vehicle company cut prices on its Model S and Model X cars in the U.S.</p><p><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a></b> -- The company gained 0.8% to $152.25 after Goldman Sachs analyst Michael Ng initiated coverage on shares of the iPhone maker with a Buy rating and price target of $199, the Fly reported.</p><p><b><a href=\"https://laohu8.com/S/CIEN\">Ciena</a></b> -- It surged over 12% in premarket trading as it reported fiscal first-quarter results that beat expectations by wide margins, amid strength in its networking platforms business. Net income for the quarter to Jan. 28 rose to $76.2 million, or 51 cents a share, from $45.8 million, or 29 cents a share, in the year-ago period. </p><p><b><a href=\"https://laohu8.com/S/BZFD\">Buzzfeed</a></b> -- It rose over 5% in premarket trading after the parent company of Stable Diffusion, an AI tool for making digital images, is seeking to raise money at a valuation of about $4 billion.</p><p><b><a href=\"https://laohu8.com/S/APE\">AMC Entertainment Preferred</a></b> -- The company jumped over 7% as it has won the support of influential proxy adviser ISS for its share increase and reverse stock split plan.</p><p><b><a href=\"https://laohu8.com/S/SI\">Silvergate Capital</a></b> -- It crashed over 8% in premarket trading as the La Jolla said Friday evening that it&#39;s suspending its Silvergate Exchange Network (SEN) but “other deposit-related services remain operational.” </p><p><b><a href=\"https://laohu8.com/S/JD\">JD.com</a></b> -- It rose slightly in premarket trading as it has officially kicked off a US$1.4 billion campaign to offer discounts across its online shopping platforms.</p><p><b><a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors Corp.</a></b> -- It rose nearly 2% in premarket trading though it reported a fourth-quarter loss that surprisingly widened but ended the year in a much better cash position than expected. Net losses widened to $102.3 million, or 45 cents a share, from $81.2 million, or 42 cents a share, in the year-ago period. </p><p><b>Market News</b></p><p>China set a modest target for economic growth this year of around 5% on Sunday as it kicked off the annual session of its National People&#39;s Congress (NPC), which is poised to implement the biggest government shake-up in a decade.</p><p><b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b> is pausing construction on its sprawling second headquarters near Washington, a decision that coincides with the company’s deepest ever job cuts and a reassessment of office needs to account for remote work.</p><p><b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> has cut prices on its two most expensive electric vehicles in the United States, according to the company&#39;s website, days after Chief Executive Elon Musk said recent price cuts on other models had stoked demand. The price cuts, Tesla&#39;s fifth adjustment since the start of the year, ranged from 4% on the performance version of the Model S to 9% on the more expensive Model X.</p><p><b><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a></b>, the world&#39;s largest contract chipmaker, will recruit more than 6,000 new staff in 2023, the company said in a statement on Saturday. According to TSMC, the company will seek young engineers with associates, bachelor&#39;s, masters&#39;s or doctorate degrees in electrical engineering or software-related fields, in cities all across Taiwan.</p><p><b><a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a></b> has won the support of influential proxy adviser ISS for its share increase and reverse stock split plan - a key endorsement of an approach that has generated controversy among investors.</p><p>One of <b><a href=\"https://laohu8.com/S/CS\">Credit Suisse Group AG</a></b>’s longest-standing shareholders has sold its entire stake in the scandal-hit Swiss bank after losing patience with its strategy amid persistent losses and a client exodus.</p><p>Bridgewater Associates has raised at least $800 million in recent months for a new fund strategy, regulatory filings show, an additional offering that comes as the hedge fund manager revamps business after founder Ray Dalio gave up control.</p><p>Arm Ltd, the British chip designer owned by Japan&#39;s SoftBank Group Corp, is likely to aim to raise at least $8 billion from what is expected to be a blockbuster U.S. stock market launch this year, people familiar with the matter said on Sunday.</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>Pre-Bell｜Dow Futures Slid 25 Points; This Networking Stock Surged Over 12%</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPre-Bell｜Dow Futures Slid 25 Points; This Networking Stock Surged Over 12%\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\">2023-03-06 20:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock futures were flat Monday as Wall Street looked ahead to a week filled with economic data and the latest commentary from the Federal Reserve.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were down 25 points, or 0.07%, S&amp;P 500 e-minis were down 1 point, or 0.02%, and Nasdaq 100 e-minis were up 5.75 points, or 0.05%.</p><p><img src=\"https://static.tigerbbs.com/ad98912cf485da9eea758e845ecb95ba\" tg-width=\"262\" tg-height=\"139\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> -- The company rose slightly in premarket trading after the electric-vehicle company cut prices on its Model S and Model X cars in the U.S.</p><p><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a></b> -- The company gained 0.8% to $152.25 after Goldman Sachs analyst Michael Ng initiated coverage on shares of the iPhone maker with a Buy rating and price target of $199, the Fly reported.</p><p><b><a href=\"https://laohu8.com/S/CIEN\">Ciena</a></b> -- It surged over 12% in premarket trading as it reported fiscal first-quarter results that beat expectations by wide margins, amid strength in its networking platforms business. Net income for the quarter to Jan. 28 rose to $76.2 million, or 51 cents a share, from $45.8 million, or 29 cents a share, in the year-ago period. </p><p><b><a href=\"https://laohu8.com/S/BZFD\">Buzzfeed</a></b> -- It rose over 5% in premarket trading after the parent company of Stable Diffusion, an AI tool for making digital images, is seeking to raise money at a valuation of about $4 billion.</p><p><b><a href=\"https://laohu8.com/S/APE\">AMC Entertainment Preferred</a></b> -- The company jumped over 7% as it has won the support of influential proxy adviser ISS for its share increase and reverse stock split plan.</p><p><b><a href=\"https://laohu8.com/S/SI\">Silvergate Capital</a></b> -- It crashed over 8% in premarket trading as the La Jolla said Friday evening that it&#39;s suspending its Silvergate Exchange Network (SEN) but “other deposit-related services remain operational.” </p><p><b><a href=\"https://laohu8.com/S/JD\">JD.com</a></b> -- It rose slightly in premarket trading as it has officially kicked off a US$1.4 billion campaign to offer discounts across its online shopping platforms.</p><p><b><a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors Corp.</a></b> -- It rose nearly 2% in premarket trading though it reported a fourth-quarter loss that surprisingly widened but ended the year in a much better cash position than expected. Net losses widened to $102.3 million, or 45 cents a share, from $81.2 million, or 42 cents a share, in the year-ago period. </p><p><b>Market News</b></p><p>China set a modest target for economic growth this year of around 5% on Sunday as it kicked off the annual session of its National People&#39;s Congress (NPC), which is poised to implement the biggest government shake-up in a decade.</p><p><b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b> is pausing construction on its sprawling second headquarters near Washington, a decision that coincides with the company’s deepest ever job cuts and a reassessment of office needs to account for remote work.</p><p><b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> has cut prices on its two most expensive electric vehicles in the United States, according to the company&#39;s website, days after Chief Executive Elon Musk said recent price cuts on other models had stoked demand. The price cuts, Tesla&#39;s fifth adjustment since the start of the year, ranged from 4% on the performance version of the Model S to 9% on the more expensive Model X.</p><p><b><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a></b>, the world&#39;s largest contract chipmaker, will recruit more than 6,000 new staff in 2023, the company said in a statement on Saturday. According to TSMC, the company will seek young engineers with associates, bachelor&#39;s, masters&#39;s or doctorate degrees in electrical engineering or software-related fields, in cities all across Taiwan.</p><p><b><a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a></b> has won the support of influential proxy adviser ISS for its share increase and reverse stock split plan - a key endorsement of an approach that has generated controversy among investors.</p><p>One of <b><a href=\"https://laohu8.com/S/CS\">Credit Suisse Group AG</a></b>’s longest-standing shareholders has sold its entire stake in the scandal-hit Swiss bank after losing patience with its strategy amid persistent losses and a client exodus.</p><p>Bridgewater Associates has raised at least $800 million in recent months for a new fund strategy, regulatory filings show, an additional offering that comes as the hedge fund manager revamps business after founder Ray Dalio gave up control.</p><p>Arm Ltd, the British chip designer owned by Japan&#39;s SoftBank Group Corp, is likely to aim to raise at least $8 billion from what is expected to be a blockbuster U.S. stock market launch this year, people familiar with the matter said on Sunday.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146020814","content_text":"U.S. stock futures were flat Monday as Wall Street looked ahead to a week filled with economic data and the latest commentary from the Federal Reserve.Market SnapshotAt 7:50 a.m. ET, Dow e-minis were down 25 points, or 0.07%, S&P 500 e-minis were down 1 point, or 0.02%, and Nasdaq 100 e-minis were up 5.75 points, or 0.05%.Pre-Market MoversTesla Motors -- The company rose slightly in premarket trading after the electric-vehicle company cut prices on its Model S and Model X cars in the U.S.Apple -- The company gained 0.8% to $152.25 after Goldman Sachs analyst Michael Ng initiated coverage on shares of the iPhone maker with a Buy rating and price target of $199, the Fly reported.Ciena -- It surged over 12% in premarket trading as it reported fiscal first-quarter results that beat expectations by wide margins, amid strength in its networking platforms business. Net income for the quarter to Jan. 28 rose to $76.2 million, or 51 cents a share, from $45.8 million, or 29 cents a share, in the year-ago period. Buzzfeed -- It rose over 5% in premarket trading after the parent company of Stable Diffusion, an AI tool for making digital images, is seeking to raise money at a valuation of about $4 billion.AMC Entertainment Preferred -- The company jumped over 7% as it has won the support of influential proxy adviser ISS for its share increase and reverse stock split plan.Silvergate Capital -- It crashed over 8% in premarket trading as the La Jolla said Friday evening that it's suspending its Silvergate Exchange Network (SEN) but “other deposit-related services remain operational.” JD.com -- It rose slightly in premarket trading as it has officially kicked off a US$1.4 billion campaign to offer discounts across its online shopping platforms.Lordstown Motors Corp. -- It rose nearly 2% in premarket trading though it reported a fourth-quarter loss that surprisingly widened but ended the year in a much better cash position than expected. Net losses widened to $102.3 million, or 45 cents a share, from $81.2 million, or 42 cents a share, in the year-ago period. Market NewsChina set a modest target for economic growth this year of around 5% on Sunday as it kicked off the annual session of its National People's Congress (NPC), which is poised to implement the biggest government shake-up in a decade.Amazon.com is pausing construction on its sprawling second headquarters near Washington, a decision that coincides with the company’s deepest ever job cuts and a reassessment of office needs to account for remote work.Tesla Motors has cut prices on its two most expensive electric vehicles in the United States, according to the company's website, days after Chief Executive Elon Musk said recent price cuts on other models had stoked demand. The price cuts, Tesla's fifth adjustment since the start of the year, ranged from 4% on the performance version of the Model S to 9% on the more expensive Model X.Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker, will recruit more than 6,000 new staff in 2023, the company said in a statement on Saturday. According to TSMC, the company will seek young engineers with associates, bachelor's, masters's or doctorate degrees in electrical engineering or software-related fields, in cities all across Taiwan.AMC Entertainment has won the support of influential proxy adviser ISS for its share increase and reverse stock split plan - a key endorsement of an approach that has generated controversy among investors.One of Credit Suisse Group AG’s longest-standing shareholders has sold its entire stake in the scandal-hit Swiss bank after losing patience with its strategy amid persistent losses and a client exodus.Bridgewater Associates has raised at least $800 million in recent months for a new fund strategy, regulatory filings show, an additional offering that comes as the hedge fund manager revamps business after founder Ray Dalio gave up control.Arm Ltd, the British chip designer owned by Japan's SoftBank Group Corp, is likely to aim to raise at least $8 billion from what is expected to be a blockbuster U.S. stock market launch this year, people familiar with the matter said on Sunday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9985558574,"gmtCreate":1667433191498,"gmtModify":1676537916152,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9985558574","repostId":"2280319145","repostType":4,"repost":{"id":"2280319145","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1667430342,"share":"https://www.laohu8.com/m/news/2280319145?lang=&edition=full","pubTime":"2022-11-03 07:05","market":"us","language":"en","title":"US STOCKS-Wall Street Closes Sharply Lower As Powell Signals Fed Not Done","url":"https://stock-news.laohu8.com/highlight/detail?id=2280319145","media":"Reuters","summary":"Fed hikes by 75 basis pointsU.S. private payrolls rise more than expectedPowell says Fed not close t","content":"<html><head></head><body><ul><li>Fed hikes by 75 basis points</li><li>U.S. private payrolls rise more than expected</li><li>Powell says Fed not close to pausing</li></ul><p><img src=\"https://static.tigerbbs.com/f695335e9ba9b8c92d6e7ab41b9088a2\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>U.S. stocks ended sharply lower on Wednesday, as comments from Fed Chair Jerome Powell shattered initial optimism over a Fed policy statement that raised interest rates by 75 basis points but signaled that smaller rate hikes may be on the horizon.</p><p>In a volatile trading session, equities initially moved higher in the wake of the hike by the Fed, the fourth straight increase from the central bank of that magnitude as it attempts to bring down stubbornly high inflation.</p><p>The target federal funds rate was set in a range between 3.75% and 4.00%, but the impact of the hike was initially tempered by new language that suggested the central bank was mindful of the effect its outsized rate hikes have had on the economy.</p><p>Investors had been widely anticipating a 75-basis point rate hike, while hoping the Fed would signal a willingness to begin downsizing the rate hikes at its December meeting.</p><p>However, comments from Fed Chair Jerome Powell that it was &#34;very premature&#34; to be thinking about pausing rate hikes sent stocks sharply lower.</p><p>&#34;It is one speech, maybe it is a moment of frustration. I don’t think he should have done it the way he did this. But I understand why he did it, and in the big picture of things, he is doing the right thing right now,&#34; said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.</p><p>&#34;Ultimately this will be good for the economy and good for the market.&#34;</p><p>According to preliminary data, the S&amp;P 500 lost 96.93 points, or 2.53%, to end at 3,758.68 points, while the Nasdaq Composite lost 367.48 points, or 3.37%, to 10,523.37. The Dow Jones Industrial Average fell 513.22 points, or 1.57%, to 32,139.98.</p><p>The S&amp;P 500 had been lower prior to the policy announcement, as the ADP National Employment report showed U.S. private payrolls increased more than expected in October, giving more reason to the Fed to continue an aggressive path of rate hikes.</p><p>The private payrolls report came on the heels of data on Tuesday that showed a jump in U.S. monthly job openings, indicating labor demand remained strong.</p><p>Investors will get more looks at the labor market in the form of weekly initial jobless claims on Thursday and the October payrolls report on Friday that will help drive expectations for interest rate hikes.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall Street Closes Sharply Lower As Powell Signals Fed Not Done</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Closes Sharply Lower As Powell Signals Fed Not Done\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-11-03 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>Fed hikes by 75 basis points</li><li>U.S. private payrolls rise more than expected</li><li>Powell says Fed not close to pausing</li></ul><p><img src=\"https://static.tigerbbs.com/f695335e9ba9b8c92d6e7ab41b9088a2\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>U.S. stocks ended sharply lower on Wednesday, as comments from Fed Chair Jerome Powell shattered initial optimism over a Fed policy statement that raised interest rates by 75 basis points but signaled that smaller rate hikes may be on the horizon.</p><p>In a volatile trading session, equities initially moved higher in the wake of the hike by the Fed, the fourth straight increase from the central bank of that magnitude as it attempts to bring down stubbornly high inflation.</p><p>The target federal funds rate was set in a range between 3.75% and 4.00%, but the impact of the hike was initially tempered by new language that suggested the central bank was mindful of the effect its outsized rate hikes have had on the economy.</p><p>Investors had been widely anticipating a 75-basis point rate hike, while hoping the Fed would signal a willingness to begin downsizing the rate hikes at its December meeting.</p><p>However, comments from Fed Chair Jerome Powell that it was &#34;very premature&#34; to be thinking about pausing rate hikes sent stocks sharply lower.</p><p>&#34;It is one speech, maybe it is a moment of frustration. I don’t think he should have done it the way he did this. But I understand why he did it, and in the big picture of things, he is doing the right thing right now,&#34; said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.</p><p>&#34;Ultimately this will be good for the economy and good for the market.&#34;</p><p>According to preliminary data, the S&amp;P 500 lost 96.93 points, or 2.53%, to end at 3,758.68 points, while the Nasdaq Composite lost 367.48 points, or 3.37%, to 10,523.37. The Dow Jones Industrial Average fell 513.22 points, or 1.57%, to 32,139.98.</p><p>The S&amp;P 500 had been lower prior to the policy announcement, as the ADP National Employment report showed U.S. private payrolls increased more than expected in October, giving more reason to the Fed to continue an aggressive path of rate hikes.</p><p>The private payrolls report came on the heels of data on Tuesday that showed a jump in U.S. monthly job openings, indicating labor demand remained strong.</p><p>Investors will get more looks at the labor market in the form of weekly initial jobless claims on Thursday and the October payrolls report on Friday that will help drive expectations for interest rate hikes.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2280319145","content_text":"Fed hikes by 75 basis pointsU.S. private payrolls rise more than expectedPowell says Fed not close to pausingU.S. stocks ended sharply lower on Wednesday, as comments from Fed Chair Jerome Powell shattered initial optimism over a Fed policy statement that raised interest rates by 75 basis points but signaled that smaller rate hikes may be on the horizon.In a volatile trading session, equities initially moved higher in the wake of the hike by the Fed, the fourth straight increase from the central bank of that magnitude as it attempts to bring down stubbornly high inflation.The target federal funds rate was set in a range between 3.75% and 4.00%, but the impact of the hike was initially tempered by new language that suggested the central bank was mindful of the effect its outsized rate hikes have had on the economy.Investors had been widely anticipating a 75-basis point rate hike, while hoping the Fed would signal a willingness to begin downsizing the rate hikes at its December meeting.However, comments from Fed Chair Jerome Powell that it was \"very premature\" to be thinking about pausing rate hikes sent stocks sharply lower.\"It is one speech, maybe it is a moment of frustration. I don’t think he should have done it the way he did this. But I understand why he did it, and in the big picture of things, he is doing the right thing right now,\" said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.\"Ultimately this will be good for the economy and good for the market.\"According to preliminary data, the S&P 500 lost 96.93 points, or 2.53%, to end at 3,758.68 points, while the Nasdaq Composite lost 367.48 points, or 3.37%, to 10,523.37. The Dow Jones Industrial Average fell 513.22 points, or 1.57%, to 32,139.98.The S&P 500 had been lower prior to the policy announcement, as the ADP National Employment report showed U.S. private payrolls increased more than expected in October, giving more reason to the Fed to continue an aggressive path of rate hikes.The private payrolls report came on the heels of data on Tuesday that showed a jump in U.S. monthly job openings, indicating labor demand remained strong.Investors will get more looks at the labor market in the form of weekly initial jobless claims on Thursday and the October payrolls report on Friday that will help drive expectations for interest rate hikes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9079929351,"gmtCreate":1657147685573,"gmtModify":1676535956361,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9079929351","repostId":"1130426171","repostType":4,"repost":{"id":"1130426171","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":1657132064,"share":"https://www.laohu8.com/m/news/1130426171?lang=&edition=full","pubTime":"2022-07-07 02:27","market":"us","language":"en","title":"Federal Reserve Officials Saw Potential to Be More Hawkish If Inflation Persists","url":"https://stock-news.laohu8.com/highlight/detail?id=1130426171","media":"Tiger Newspress","summary":"Federal Reserve officials in June emphasized the need to fight inflation even if it meant slowing an","content":"<html><head></head><body><p>Federal Reserve officials in June emphasized the need to fight inflation even if it meant slowing an economy that already appears on the brink of a recession, according to meeting minutes released Wednesday.</p><p>Members said the July meeting likely also would see another 50- or 75-basis point move. A basis point is one one-hundredth of 1 percentage point.</p><p>“In discussing potential policy actions at upcoming meetings, participants continued to anticipate that ongoing increases in the target range for the federal funds rate would be appropriate to achieve the Committee’s objectives,” the minutes stated. “In particular, participants judged that an increase of 50 or 75 basis points would likely be appropriate at the next meeting.”</p><p>In raising benchmark borrowing rates by three-quarters of a percentage point, central bankers said the move was necessary to control cost-of-living increases running at their highest levels since 1981.</p><p>“Participants concurred that the economic outlook warranted moving to a restrictive stance of policy, and they recognized the possibility that an even more restrictive stance could be appropriate if elevated inflation pressures were to persist,” the document said.</p><p>They acknowledged that the policy tightening likely would come with a price.</p><p>“Participants recognized that policy firming could slow the pace of economic growth for a time, but they saw the return of inflation to 2 percent as critical to achieving maximum employment on a sustained basis,” the meeting summary stated.</p><p>The move to hike rates by 75 basis points followed an unusual sequence in which policymakers appeared to have a last-minute change of heart after saying for weeks that a 50 basis point move was almost certain.</p><p>Following data showing consumer prices running at an 8.6% 12-month rate and inflation expectations rising, the rate-setting Federal Open Market Committee chose the more stringent path.</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>Federal Reserve Officials Saw Potential to Be More Hawkish If Inflation Persists</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFederal Reserve Officials Saw Potential to Be More Hawkish If Inflation Persists\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\">2022-07-07 02:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Federal Reserve officials in June emphasized the need to fight inflation even if it meant slowing an economy that already appears on the brink of a recession, according to meeting minutes released Wednesday.</p><p>Members said the July meeting likely also would see another 50- or 75-basis point move. A basis point is one one-hundredth of 1 percentage point.</p><p>“In discussing potential policy actions at upcoming meetings, participants continued to anticipate that ongoing increases in the target range for the federal funds rate would be appropriate to achieve the Committee’s objectives,” the minutes stated. “In particular, participants judged that an increase of 50 or 75 basis points would likely be appropriate at the next meeting.”</p><p>In raising benchmark borrowing rates by three-quarters of a percentage point, central bankers said the move was necessary to control cost-of-living increases running at their highest levels since 1981.</p><p>“Participants concurred that the economic outlook warranted moving to a restrictive stance of policy, and they recognized the possibility that an even more restrictive stance could be appropriate if elevated inflation pressures were to persist,” the document said.</p><p>They acknowledged that the policy tightening likely would come with a price.</p><p>“Participants recognized that policy firming could slow the pace of economic growth for a time, but they saw the return of inflation to 2 percent as critical to achieving maximum employment on a sustained basis,” the meeting summary stated.</p><p>The move to hike rates by 75 basis points followed an unusual sequence in which policymakers appeared to have a last-minute change of heart after saying for weeks that a 50 basis point move was almost certain.</p><p>Following data showing consumer prices running at an 8.6% 12-month rate and inflation expectations rising, the rate-setting Federal Open Market Committee chose the more stringent path.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130426171","content_text":"Federal Reserve officials in June emphasized the need to fight inflation even if it meant slowing an economy that already appears on the brink of a recession, according to meeting minutes released Wednesday.Members said the July meeting likely also would see another 50- or 75-basis point move. A basis point is one one-hundredth of 1 percentage point.“In discussing potential policy actions at upcoming meetings, participants continued to anticipate that ongoing increases in the target range for the federal funds rate would be appropriate to achieve the Committee’s objectives,” the minutes stated. “In particular, participants judged that an increase of 50 or 75 basis points would likely be appropriate at the next meeting.”In raising benchmark borrowing rates by three-quarters of a percentage point, central bankers said the move was necessary to control cost-of-living increases running at their highest levels since 1981.“Participants concurred that the economic outlook warranted moving to a restrictive stance of policy, and they recognized the possibility that an even more restrictive stance could be appropriate if elevated inflation pressures were to persist,” the document said.They acknowledged that the policy tightening likely would come with a price.“Participants recognized that policy firming could slow the pace of economic growth for a time, but they saw the return of inflation to 2 percent as critical to achieving maximum employment on a sustained basis,” the meeting summary stated.The move to hike rates by 75 basis points followed an unusual sequence in which policymakers appeared to have a last-minute change of heart after saying for weeks that a 50 basis point move was almost certain.Following data showing consumer prices running at an 8.6% 12-month rate and inflation expectations rising, the rate-setting Federal Open Market Committee chose the more stringent path.","news_type":1},"isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9070261985,"gmtCreate":1657067729947,"gmtModify":1676535942700,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Lai liao","listText":"Lai liao","text":"Lai liao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9070261985","repostId":"2249535227","repostType":4,"repost":{"id":"2249535227","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1657063254,"share":"https://www.laohu8.com/m/news/2249535227?lang=&edition=full","pubTime":"2022-07-06 07:20","market":"us","language":"en","title":"U.S. Oil Just Tumbled below $100 a Barrel -- What That Says about Recession Fears and Tight Crude Supplies","url":"https://stock-news.laohu8.com/highlight/detail?id=2249535227","media":"Dow Jones","summary":"WTI futures tumble 8.2% in 'spectacular decline'Concerns about a recession and a drop in energy dema","content":"<html><head></head><body><p>WTI futures tumble 8.2% in &#39;spectacular decline&#39;</p><p>Concerns about a recession and a drop in energy demand led to a drop in U.S. benchmark West Texas Intermediate crude-oil prices below the $100-a-barrel mark on Tuesday for the first time in months.</p><p>That&#39;s contributed to talk of a potential &#34;buying opportunity&#34; for traders, even as some analysts expect further price declines.</p><p>&#34;Massive speculation on demand destruction story&#34; led to Tuesday&#39;s &#34;spectacular decline,&#34; Manish Raj, chief financial officer at Velandera Energy Partners, told MarketWatch.</p><p>WTI oil futures on Tuesday fell below the key $100 mark, with the front-month August contract  tapping a low of $97.43 a barrel on the New York Mercantile Exchange, the lowest intraday level since April, FactSet data show. On Tuesday, it settled at $99.50, down $8.93, or 8.2%.</p><p>The price drop was &#34;inevitable as the market rebalances after fears of sanctions give way to the realities of Russian sales to new buyers in Asia, and the impact of high prices on demand and the economy become increasingly apparent,&#34; said Michael Lynch, president at Strategic Energy &amp; Economic Research.</p><p>Even so, he doesn&#39;t expect to see WTI prices below $90 in the next few months -- &#34;unless supply proves strong from Libya, Iran and/or Venezuela, which is possible but there&#39;s little prospect of upwards pressure on prices any time soon.&#34;</p><h2>Bargain prices?</h2><p>WTI&#39;s drop on Tuesday marked a nearly 20% drop from the highs above $123 a barrel in mid-June.</p><p>The market is approaching bear territory, with the day&#39;s settlement just over 19.5% lower than the recent settlement high of $123.70 from March 8. To be in a bear market, WTI oil would need to settle at or below the $98.96 to mark a 20% or more drop from the recent high, according to Dow Jones Market Data.</p><p>Still, Velandera&#39;s Raj believes oil prices have &#34;dropped too fast, too soon, creating a unique buying opportunity for physical oil traders,&#34; as the &#34;supply picture looks bleak at best, and disastrous at worst.&#34;</p><p>Raj points out that high U.S. gasoline prices this year, which hit levels above $5 a gallon at the retail level, &#34;have yet to put a dent in American drivers&#39; thirst for oil&#34; and in the past, mild recessions have &#34;not shown material demand reductions.&#34;</p><p>Velandera&#39;s analysis, meanwhile, shows that the oil supply-demand balance has only gotten worse each month this year, and supply has been declining while demand has been rising, said Raj. &#34;Ironically, the market has only become tighter, with further bad news coming out of Libya and Norway.&#34;</p><p>Political instability has led to significant declines in Libyan oil production, while Norway is dealing with a strike among oil and natural-gas workers</p><p>The International Energy Agency, in a monthly report issued in June, said it expects supply growth to lag behind demand next year, pushing the market into a 500,000 barrels-a-day deficit.</p><h2>Recession worries</h2><p>Meanwhile, analysts at Citigroup said that in a recession scenario, global benchmark Brent crude prices could drop to $65 a barrel by year-end, and $45 by the end of 2023, &#34;absent intervention by OPEC+ and a decline in short-cycle oil investment.&#34;</p><p>A fall to $65 would mark a sizable decline from current levels, with September Brent crude  settling at $102.77 a barrel on ICE Futures Europe, down $10.73, or nearly 9.5% on Tuesday.</p><p>&#34;What seems clear is that the market is finally pricing in recession risk&#34; and traders have reduced long positions, said James Williams, energy economist at WTRG Economics.</p><p>He pointed out that recent data from the Energy Information Administration show that the four-week averages for implied demand for gasoline and distillates were down 2% and 7.4%, respectively.</p><p>&#34;I think a recession is approaching a certainty, and recessions always lead to lower prices,&#34; said Williams.</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. Oil Just Tumbled below $100 a Barrel -- What That Says about Recession Fears and Tight Crude Supplies</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. Oil Just Tumbled below $100 a Barrel -- What That Says about Recession Fears and Tight Crude Supplies\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-07-06 07:20</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>WTI futures tumble 8.2% in &#39;spectacular decline&#39;</p><p>Concerns about a recession and a drop in energy demand led to a drop in U.S. benchmark West Texas Intermediate crude-oil prices below the $100-a-barrel mark on Tuesday for the first time in months.</p><p>That&#39;s contributed to talk of a potential &#34;buying opportunity&#34; for traders, even as some analysts expect further price declines.</p><p>&#34;Massive speculation on demand destruction story&#34; led to Tuesday&#39;s &#34;spectacular decline,&#34; Manish Raj, chief financial officer at Velandera Energy Partners, told MarketWatch.</p><p>WTI oil futures on Tuesday fell below the key $100 mark, with the front-month August contract  tapping a low of $97.43 a barrel on the New York Mercantile Exchange, the lowest intraday level since April, FactSet data show. On Tuesday, it settled at $99.50, down $8.93, or 8.2%.</p><p>The price drop was &#34;inevitable as the market rebalances after fears of sanctions give way to the realities of Russian sales to new buyers in Asia, and the impact of high prices on demand and the economy become increasingly apparent,&#34; said Michael Lynch, president at Strategic Energy &amp; Economic Research.</p><p>Even so, he doesn&#39;t expect to see WTI prices below $90 in the next few months -- &#34;unless supply proves strong from Libya, Iran and/or Venezuela, which is possible but there&#39;s little prospect of upwards pressure on prices any time soon.&#34;</p><h2>Bargain prices?</h2><p>WTI&#39;s drop on Tuesday marked a nearly 20% drop from the highs above $123 a barrel in mid-June.</p><p>The market is approaching bear territory, with the day&#39;s settlement just over 19.5% lower than the recent settlement high of $123.70 from March 8. To be in a bear market, WTI oil would need to settle at or below the $98.96 to mark a 20% or more drop from the recent high, according to Dow Jones Market Data.</p><p>Still, Velandera&#39;s Raj believes oil prices have &#34;dropped too fast, too soon, creating a unique buying opportunity for physical oil traders,&#34; as the &#34;supply picture looks bleak at best, and disastrous at worst.&#34;</p><p>Raj points out that high U.S. gasoline prices this year, which hit levels above $5 a gallon at the retail level, &#34;have yet to put a dent in American drivers&#39; thirst for oil&#34; and in the past, mild recessions have &#34;not shown material demand reductions.&#34;</p><p>Velandera&#39;s analysis, meanwhile, shows that the oil supply-demand balance has only gotten worse each month this year, and supply has been declining while demand has been rising, said Raj. &#34;Ironically, the market has only become tighter, with further bad news coming out of Libya and Norway.&#34;</p><p>Political instability has led to significant declines in Libyan oil production, while Norway is dealing with a strike among oil and natural-gas workers</p><p>The International Energy Agency, in a monthly report issued in June, said it expects supply growth to lag behind demand next year, pushing the market into a 500,000 barrels-a-day deficit.</p><h2>Recession worries</h2><p>Meanwhile, analysts at Citigroup said that in a recession scenario, global benchmark Brent crude prices could drop to $65 a barrel by year-end, and $45 by the end of 2023, &#34;absent intervention by OPEC+ and a decline in short-cycle oil investment.&#34;</p><p>A fall to $65 would mark a sizable decline from current levels, with September Brent crude  settling at $102.77 a barrel on ICE Futures Europe, down $10.73, or nearly 9.5% on Tuesday.</p><p>&#34;What seems clear is that the market is finally pricing in recession risk&#34; and traders have reduced long positions, said James Williams, energy economist at WTRG Economics.</p><p>He pointed out that recent data from the Energy Information Administration show that the four-week averages for implied demand for gasoline and distillates were down 2% and 7.4%, respectively.</p><p>&#34;I think a recession is approaching a certainty, and recessions always lead to lower prices,&#34; said Williams.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2249535227","content_text":"WTI futures tumble 8.2% in 'spectacular decline'Concerns about a recession and a drop in energy demand led to a drop in U.S. benchmark West Texas Intermediate crude-oil prices below the $100-a-barrel mark on Tuesday for the first time in months.That's contributed to talk of a potential \"buying opportunity\" for traders, even as some analysts expect further price declines.\"Massive speculation on demand destruction story\" led to Tuesday's \"spectacular decline,\" Manish Raj, chief financial officer at Velandera Energy Partners, told MarketWatch.WTI oil futures on Tuesday fell below the key $100 mark, with the front-month August contract  tapping a low of $97.43 a barrel on the New York Mercantile Exchange, the lowest intraday level since April, FactSet data show. On Tuesday, it settled at $99.50, down $8.93, or 8.2%.The price drop was \"inevitable as the market rebalances after fears of sanctions give way to the realities of Russian sales to new buyers in Asia, and the impact of high prices on demand and the economy become increasingly apparent,\" said Michael Lynch, president at Strategic Energy & Economic Research.Even so, he doesn't expect to see WTI prices below $90 in the next few months -- \"unless supply proves strong from Libya, Iran and/or Venezuela, which is possible but there's little prospect of upwards pressure on prices any time soon.\"Bargain prices?WTI's drop on Tuesday marked a nearly 20% drop from the highs above $123 a barrel in mid-June.The market is approaching bear territory, with the day's settlement just over 19.5% lower than the recent settlement high of $123.70 from March 8. To be in a bear market, WTI oil would need to settle at or below the $98.96 to mark a 20% or more drop from the recent high, according to Dow Jones Market Data.Still, Velandera's Raj believes oil prices have \"dropped too fast, too soon, creating a unique buying opportunity for physical oil traders,\" as the \"supply picture looks bleak at best, and disastrous at worst.\"Raj points out that high U.S. gasoline prices this year, which hit levels above $5 a gallon at the retail level, \"have yet to put a dent in American drivers' thirst for oil\" and in the past, mild recessions have \"not shown material demand reductions.\"Velandera's analysis, meanwhile, shows that the oil supply-demand balance has only gotten worse each month this year, and supply has been declining while demand has been rising, said Raj. \"Ironically, the market has only become tighter, with further bad news coming out of Libya and Norway.\"Political instability has led to significant declines in Libyan oil production, while Norway is dealing with a strike among oil and natural-gas workersThe International Energy Agency, in a monthly report issued in June, said it expects supply growth to lag behind demand next year, pushing the market into a 500,000 barrels-a-day deficit.Recession worriesMeanwhile, analysts at Citigroup said that in a recession scenario, global benchmark Brent crude prices could drop to $65 a barrel by year-end, and $45 by the end of 2023, \"absent intervention by OPEC+ and a decline in short-cycle oil investment.\"A fall to $65 would mark a sizable decline from current levels, with September Brent crude  settling at $102.77 a barrel on ICE Futures Europe, down $10.73, or nearly 9.5% on Tuesday.\"What seems clear is that the market is finally pricing in recession risk\" and traders have reduced long positions, said James Williams, energy economist at WTRG Economics.He pointed out that recent data from the Energy Information Administration show that the four-week averages for implied demand for gasoline and distillates were down 2% and 7.4%, respectively.\"I think a recession is approaching a certainty, and recessions always lead to lower prices,\" said Williams.","news_type":1},"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9044406756,"gmtCreate":1656806261875,"gmtModify":1676535895203,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Big expected drop","listText":"Big expected drop","text":"Big expected drop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9044406756","repostId":"2248980919","repostType":4,"repost":{"id":"2248980919","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1656848586,"share":"https://www.laohu8.com/m/news/2248980919?lang=&edition=full","pubTime":"2022-07-03 19:43","market":"us","language":"en","title":"Tesla Q2 Deliveries Slump To 254,695 Amid Supply Chain, Pandemic Problems","url":"https://stock-news.laohu8.com/highlight/detail?id=2248980919","media":"Reuters","summary":"July 2 (Reuters) - Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second q","content":"<html><head></head><body><p>July 2 (Reuters) - Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second quarter, as a COVID-related shutdown in Shanghai hit its production and supply chain.</p><p>In the preceding quarter, the U.S. electric car maker delivered 310,048 vehicles globally.</p><p>Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April to June period, according to Refinitiv data. Several analysts had slashed their estimates further to about 250,000 due to China&#39;s prolonged lockdown.</p><p>Tesla said it delivered 238,533 Model 3 compact cars and Model Y sport-utility vehicles, as well as 16,162 of its Model S and Model X vehicles to customers in the quarter.</p><p>Total production fell 15.3% to 258,580 vehicles from the first quarter. June 2022 was the highest vehicle production month in Tesla&#39;s history, the company said in a news release.</p><p><img src=\"https://static.tigerbbs.com/b06a0b120caa4763851aba5807bfe85b\" tg-width=\"1017\" tg-height=\"192\" referrerpolicy=\"no-referrer\"/></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 Q2 Deliveries Slump To 254,695 Amid Supply Chain, Pandemic Problems</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 Q2 Deliveries Slump To 254,695 Amid Supply Chain, Pandemic Problems\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-07-03 19:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>July 2 (Reuters) - Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second quarter, as a COVID-related shutdown in Shanghai hit its production and supply chain.</p><p>In the preceding quarter, the U.S. electric car maker delivered 310,048 vehicles globally.</p><p>Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April to June period, according to Refinitiv data. Several analysts had slashed their estimates further to about 250,000 due to China&#39;s prolonged lockdown.</p><p>Tesla said it delivered 238,533 Model 3 compact cars and Model Y sport-utility vehicles, as well as 16,162 of its Model S and Model X vehicles to customers in the quarter.</p><p>Total production fell 15.3% to 258,580 vehicles from the first quarter. June 2022 was the highest vehicle production month in Tesla&#39;s history, the company said in a news release.</p><p><img src=\"https://static.tigerbbs.com/b06a0b120caa4763851aba5807bfe85b\" tg-width=\"1017\" tg-height=\"192\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2248980919","content_text":"July 2 (Reuters) - Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second quarter, as a COVID-related shutdown in Shanghai hit its production and supply chain.In the preceding quarter, the U.S. electric car maker delivered 310,048 vehicles globally.Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April to June period, according to Refinitiv data. Several analysts had slashed their estimates further to about 250,000 due to China's prolonged lockdown.Tesla said it delivered 238,533 Model 3 compact cars and Model Y sport-utility vehicles, as well as 16,162 of its Model S and Model X vehicles to customers in the quarter.Total production fell 15.3% to 258,580 vehicles from the first quarter. June 2022 was the highest vehicle production month in Tesla's history, the company said in a news release.","news_type":1},"isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9044147695,"gmtCreate":1656726740017,"gmtModify":1676535884467,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Just to note Warren Buffet is human and sometimes makes mistakes too","listText":"Just to note Warren Buffet is human and sometimes makes mistakes too","text":"Just to note Warren Buffet is human and sometimes makes mistakes too","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9044147695","repostId":"2248897596","repostType":4,"repost":{"id":"2248897596","pubTimestamp":1656718142,"share":"https://www.laohu8.com/m/news/2248897596?lang=&edition=full","pubTime":"2022-07-02 07:29","market":"us","language":"en","title":"3 Warren Buffett Stocks to Buy Hand Over Fist in July","url":"https://stock-news.laohu8.com/highlight/detail?id=2248897596","media":"Motley Fool","summary":"Riding the Oracle of Omaha's coattails is a proven moneymaking strategy.","content":"<html><head></head><body><p>Few investors have a nose for making money quite like billionaire Warren Buffett. Since becoming CEO of conglomerate <b>Berkshire Hathaway</b> in 1965, the Oracle of Omaha, as he&#39;s come to be known, has created more than $610 billion in value for shareholders and delivered an aggregate return on his company&#39;s Class A shares (BRK.A) of 3,641,613%, through Dec. 31, 2021.</p><p>Even though Buffett isn&#39;t infallible, riding his coattails has been a proven recipe to outperform the benchmark <b>S&amp;P 500</b> for more than a half-century.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e92116e97f06291ec28eda85974acb1b\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"/><span>Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.</span></p><p>As we push into the second half of what&#39;s been an exceptionally volatile and challenging year for investors, several Berkshire Hathaway holdings stand out as amazing values. The following three Warren Buffett stocks can all be confidently bought hand over fist in July.</p><h2>Bank of America</h2><p>The first Buffett stock that&#39;s begging to be bought in July is money-center giant <b>Bank of America</b>.</p><p>Usually, bank stocks are an industry to avoid when the broader market is mired in a double-digit decline. However, this time is different. It&#39;s the first time ever that the U.S.&#39;s central bank has aggressively raised interest rates into a plunging stock market.</p><p>Under normal circumstances, we&#39;d expect the Federal Reserve to lower interest rates in order to spur lending and support the U.S. economy and stock market. Doing so lowers the net-interest-income-earning potential for bank stocks like BofA. But with the Fed increasing its fed funds target rate by 150 basis points in just the past three meetings, bank stocks are poised to benefit from a significant uptick in net-interest income.</p><p>Among big-bank stocks, none is more interest-sensitive than Bank of America. In April, when the company reported its first-quarter operating results, BofA noted it would generate an estimated $5.4 billion in added net-interest income with a 100-basis-point parallel shift in the interest rate yield curve. By 2022&#39;s end, we could see a 300-basis-point (or higher) jump in the fed funds rate.</p><p>Bank of America has also benefited from its consistent investments in technology and digitization. Over a three-year stretch, the number of active digital users has grown by 5 million to 42 million. More importantly, 53% of all first-quarter loan sales were completed online or via mobile app, which is up from 30% in the comparable quarter in 2019. Digital sales are considerably cheaper for the company than in-person or phone-based interactions. It&#39;s this digital push that&#39;s allowed BofA to consolidate some of its branches to lower its noninterest expenses.</p><p>If you need one more good reason to sink your teeth into Bank of America, take a closer look at its valuation. Whereas most companies are likely to endure a near-term earnings decline, BofA&#39;s earnings per share could grow by close to 20% in 2023. With shares trading close to book value and roughly eight times Wall Street&#39;s forecast earnings for the upcoming year, Bank of America just might be the best deal in Buffett&#39;s entire portfolio.</p><h2>Activision Blizzard</h2><p>A second Warren Buffett stock investors can confidently scoop up in July is gaming giant <b>Activision Blizzard</b>.</p><p>Like most tech stocks, Activision has a cloud of uncertainty following it. However, it has its own unique set of concerns beyond just historically high inflation, the rising prospect of a domestic recession, and rising interest rates closing off access to historically cheap capital. In Activision&#39;s case, it&#39;s faced multiple lawsuits covering allegations of discrimination and sexual harassment in the workplace.</p><p>To make matters worse, the company delayed the release of a number of key games expected to drive new users into its ecosystem. First-person shooter game <i>Overwatch 2</i> and action role-playing game <i>Diablo IV </i>had their respective release dates pushed back to the fourth quarter of 2022 and sometime in 2023.</p><p>However, these snafus have arguably rolled out the red carpet for opportunistic investors. For instance, the company&#39;s litigation should be resolved soon.</p><p>Activision ended March with 372 million monthly active users (MAUs). Although down from the year-ago period, MAUs tied to its King subsidiary, the home of <i>Candy Crush</i>, have held up particularly well. The upcoming releases of key games in the second half of 2022 and into 2023 should reignite MAU growth in the Activision segment.</p><p>Even more important is the fact that <b>Microsoft</b> has made a $68.7 billion all-cash offer to acquire Activision Blizzard at $95 a share. Aside from becoming even more influential in the gaming space with this deal, Microsoft plans to use Activision as a launching point to further its metaverse ambitions. The metaverse is the next iteration of the internet, which allows connected users to interact with each other and their surroundings in 3D virtual worlds.</p><p>Thus far, it doesn&#39;t appear that Activision and Microsoft have run into snags with U.S. regulators regarding the deal. This is noteworthy given that Activision Blizzard&#39;s stock ended last week below $78 a share. If Microsoft closes this deal in 2022, as anticipated, Activision shareholders could nab a quick 22% arbitrage opportunity. This is precisely why Warren Buffett&#39;s company purchased a roughly 9.5% stake in Activision.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bfef5e9062efb34674bebd076d991a15\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"/><span>The Wuling Hong Guang Mini Cabrio EV. Image source: General Motors.</span></p><h2>General Motors</h2><p>A third and final Warren Buffett stock to buy hand over fist in July is automaker <b>General Motors</b>.</p><p>You could say that what can go wrong <i>has</i> gone wrong for the auto industry in 2022. Semiconductor chip shortages and COVID-19 lockdowns in select international markets, such as China, have disrupted supply chains. Historically high inflation on the materials used to make vehicles is eating into auto margins. Yet in spite of these headwinds, GM has the drive to make long-term investors richer.</p><p>After many years of waiting on the next big organic growth opportunity for auto stocks, it&#39;s finally arrived. The electrification of automobiles should result in consumers and businesses changing or upgrading vehicles for decades to come.</p><p>For its part, General Motors has spared no expense. The company anticipates spending an aggregate of $35 billion through 2025 on electric vehicles (EVs), autonomous vehicles, and batteries. It expects to have two fully dedicated battery plants up and running by the end of next year, with a goal of producing at least 1 million EVs annually in North America by 2025. In total, 30 new EVs are expected to be launched globally by the end of 2025.</p><p>Initial figures suggest there&#39;s a lot of interest in GM&#39;s EV products. When GM released its first-quarter operating results on April 26, CEO Mary Barra noted in her letter to shareholders that approximately 140,000 retail reservations for the Chevy Silverado EV had already been placed. The Silverado EV was only introduced by Barra in January 2022.</p><p>General Motors also has a real shot to become a key player in China&#39;s EV market. China is the largest auto market in the world. Aside from the fact that GM has an established presence in China -- it delivered 2.9 million vehicles in both 2020 and 2021 -- it and its joint venture partners already have the best-selling EV in the country, the Wuling Hong Guang Mini EV.</p><p>With an extensive growth opportunity on its doorstep, General Motors is an incredible deal at only five times Wall Street&#39;s forecast earnings for 2022 and 2023.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Warren Buffett Stocks to Buy Hand Over Fist in July</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Warren Buffett Stocks to Buy Hand Over Fist in July\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-02 07:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/07/01/3-warren-buffett-stocks-buy-hand-over-fist-in-july/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Few investors have a nose for making money quite like billionaire Warren Buffett. Since becoming CEO of conglomerate Berkshire Hathaway in 1965, the Oracle of Omaha, as he's come to be known, has ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/07/01/3-warren-buffett-stocks-buy-hand-over-fist-in-july/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车","BAC":"美国银行","ATVI":"动视暴雪"},"source_url":"https://www.fool.com/investing/2022/07/01/3-warren-buffett-stocks-buy-hand-over-fist-in-july/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2248897596","content_text":"Few investors have a nose for making money quite like billionaire Warren Buffett. Since becoming CEO of conglomerate Berkshire Hathaway in 1965, the Oracle of Omaha, as he's come to be known, has created more than $610 billion in value for shareholders and delivered an aggregate return on his company's Class A shares (BRK.A) of 3,641,613%, through Dec. 31, 2021.Even though Buffett isn't infallible, riding his coattails has been a proven recipe to outperform the benchmark S&P 500 for more than a half-century.Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.As we push into the second half of what's been an exceptionally volatile and challenging year for investors, several Berkshire Hathaway holdings stand out as amazing values. The following three Warren Buffett stocks can all be confidently bought hand over fist in July.Bank of AmericaThe first Buffett stock that's begging to be bought in July is money-center giant Bank of America.Usually, bank stocks are an industry to avoid when the broader market is mired in a double-digit decline. However, this time is different. It's the first time ever that the U.S.'s central bank has aggressively raised interest rates into a plunging stock market.Under normal circumstances, we'd expect the Federal Reserve to lower interest rates in order to spur lending and support the U.S. economy and stock market. Doing so lowers the net-interest-income-earning potential for bank stocks like BofA. But with the Fed increasing its fed funds target rate by 150 basis points in just the past three meetings, bank stocks are poised to benefit from a significant uptick in net-interest income.Among big-bank stocks, none is more interest-sensitive than Bank of America. In April, when the company reported its first-quarter operating results, BofA noted it would generate an estimated $5.4 billion in added net-interest income with a 100-basis-point parallel shift in the interest rate yield curve. By 2022's end, we could see a 300-basis-point (or higher) jump in the fed funds rate.Bank of America has also benefited from its consistent investments in technology and digitization. Over a three-year stretch, the number of active digital users has grown by 5 million to 42 million. More importantly, 53% of all first-quarter loan sales were completed online or via mobile app, which is up from 30% in the comparable quarter in 2019. Digital sales are considerably cheaper for the company than in-person or phone-based interactions. It's this digital push that's allowed BofA to consolidate some of its branches to lower its noninterest expenses.If you need one more good reason to sink your teeth into Bank of America, take a closer look at its valuation. Whereas most companies are likely to endure a near-term earnings decline, BofA's earnings per share could grow by close to 20% in 2023. With shares trading close to book value and roughly eight times Wall Street's forecast earnings for the upcoming year, Bank of America just might be the best deal in Buffett's entire portfolio.Activision BlizzardA second Warren Buffett stock investors can confidently scoop up in July is gaming giant Activision Blizzard.Like most tech stocks, Activision has a cloud of uncertainty following it. However, it has its own unique set of concerns beyond just historically high inflation, the rising prospect of a domestic recession, and rising interest rates closing off access to historically cheap capital. In Activision's case, it's faced multiple lawsuits covering allegations of discrimination and sexual harassment in the workplace.To make matters worse, the company delayed the release of a number of key games expected to drive new users into its ecosystem. First-person shooter game Overwatch 2 and action role-playing game Diablo IV had their respective release dates pushed back to the fourth quarter of 2022 and sometime in 2023.However, these snafus have arguably rolled out the red carpet for opportunistic investors. For instance, the company's litigation should be resolved soon.Activision ended March with 372 million monthly active users (MAUs). Although down from the year-ago period, MAUs tied to its King subsidiary, the home of Candy Crush, have held up particularly well. The upcoming releases of key games in the second half of 2022 and into 2023 should reignite MAU growth in the Activision segment.Even more important is the fact that Microsoft has made a $68.7 billion all-cash offer to acquire Activision Blizzard at $95 a share. Aside from becoming even more influential in the gaming space with this deal, Microsoft plans to use Activision as a launching point to further its metaverse ambitions. The metaverse is the next iteration of the internet, which allows connected users to interact with each other and their surroundings in 3D virtual worlds.Thus far, it doesn't appear that Activision and Microsoft have run into snags with U.S. regulators regarding the deal. This is noteworthy given that Activision Blizzard's stock ended last week below $78 a share. If Microsoft closes this deal in 2022, as anticipated, Activision shareholders could nab a quick 22% arbitrage opportunity. This is precisely why Warren Buffett's company purchased a roughly 9.5% stake in Activision.The Wuling Hong Guang Mini Cabrio EV. Image source: General Motors.General MotorsA third and final Warren Buffett stock to buy hand over fist in July is automaker General Motors.You could say that what can go wrong has gone wrong for the auto industry in 2022. Semiconductor chip shortages and COVID-19 lockdowns in select international markets, such as China, have disrupted supply chains. Historically high inflation on the materials used to make vehicles is eating into auto margins. Yet in spite of these headwinds, GM has the drive to make long-term investors richer.After many years of waiting on the next big organic growth opportunity for auto stocks, it's finally arrived. The electrification of automobiles should result in consumers and businesses changing or upgrading vehicles for decades to come.For its part, General Motors has spared no expense. The company anticipates spending an aggregate of $35 billion through 2025 on electric vehicles (EVs), autonomous vehicles, and batteries. It expects to have two fully dedicated battery plants up and running by the end of next year, with a goal of producing at least 1 million EVs annually in North America by 2025. In total, 30 new EVs are expected to be launched globally by the end of 2025.Initial figures suggest there's a lot of interest in GM's EV products. When GM released its first-quarter operating results on April 26, CEO Mary Barra noted in her letter to shareholders that approximately 140,000 retail reservations for the Chevy Silverado EV had already been placed. The Silverado EV was only introduced by Barra in January 2022.General Motors also has a real shot to become a key player in China's EV market. China is the largest auto market in the world. Aside from the fact that GM has an established presence in China -- it delivered 2.9 million vehicles in both 2020 and 2021 -- it and its joint venture partners already have the best-selling EV in the country, the Wuling Hong Guang Mini EV.With an extensive growth opportunity on its doorstep, General Motors is an incredible deal at only five times Wall Street's forecast earnings for 2022 and 2023.","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9047260279,"gmtCreate":1656927295291,"gmtModify":1676535917096,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"My guess is as good as yours","listText":"My guess is as good as yours","text":"My guess is as good as yours","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9047260279","repostId":"1113088647","repostType":4,"repost":{"id":"1113088647","pubTimestamp":1656922276,"share":"https://www.laohu8.com/m/news/1113088647?lang=&edition=full","pubTime":"2022-07-04 16:11","market":"us","language":"en","title":"Exxon: How Much Higher Can It Go?","url":"https://stock-news.laohu8.com/highlight/detail?id=1113088647","media":"Seeking Alpha","summary":"SummaryAfter the crash of 2020, ESG initiatives, and a growing distaste for oil companies, investmen","content":"<html><head></head><body><p>Summary</p><ul><li>After the crash of 2020, ESG initiatives, and a growing distaste for oil companies, investments in the industry dried up and left the world undersupplied with oil, causing prices to soar.</li><li>Since Exxon’s 2020 low of around $33 a share the company&#39;s stock price more than tripled before retreating back down to the $88 level.</li><li>In the first quarter of 2022, Exxon reported some stellar numbers. Cash flow from operations soared to $14.8B.</li><li>LNG has become more important than ever as European countries are scrambling to replace Russian gas dependence.</li><li>Given the environment of elevated oil prices and low investment in exploration, I believe oil prices could potentially be sustained over the medium/long term.</li></ul><p><b>Introduction</b></p><p>2022 has been a great year for oil stocks like <a href=\"https://laohu8.com/S/XOM\">Exxon</a>. After the oil crash of 2020, ESG initiatives, and a growing distaste for oil companies, investments in the industry<i>dried</i><i>up</i>and left the world undersupplied with oil, causing prices to soar.</p><p>As one of the largest producers of oil, Exxon has been one of the largest beneficiaries too:</p><p><img src=\"https://static.tigerbbs.com/a3167b2e19862d87f9a1d7d5e27c770c\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/></p><p>Since Exxon’s 2020 low of around $33 a share the company&#39;s stock price has nearly tripled, that&#39;s after its recent retreat down from the $105 level, settling back down to $88.</p><p>But, as investors, we’re faced with a conundrum: Exxon, and oil companies like it, are reaping record profits, profits that look set to continue due to record low investments, but could a potential recession turn Exxon into a losing investment? And furthermore, is Exxon the best investment among the major oil producers?</p><p>Within this article I’ll provide:</p><ul><li>An update on Exxon’s business and prospects</li><li>A comparison of the financial performance of Exxon vs Peers</li><li>A valuation of Exxon’s shares under different market environments</li></ul><p>Exxon Business Update</p><p>Exxon has been a major beneficiary of the recovery in global oil prices. After decades of underinvestment, and Russia-induced geopolitical uncertainty, oil stocks are shining once again. Finally, oil is back in vogue. (XLE) (USO)</p><p><img src=\"https://static.tigerbbs.com/65b52596c745ee5312c25c9c49a36801\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/>In the first quarter of 2022, Exxon reported some stellar numbers. Cash flow from operations soared to $14.8B and excluding its Russia exit, earnings would have been up $6B from the prior year to $8.8B.</p><p>Adjusted for Russia, Exxon’s earnings went from $2.8B to $8.8B, which is nothing short of miraculous and speaks to the correlation between Exxon’s performance and the global commodities market.</p><p>In addition to the strong financial performance, Exxon likely made a few shareholders happy when they announced a $30B buyback through 2023 (roughly 8% of its current market cap). Add on to its 4% dividend yield, and Exxon looks set to return roughly 12% of its market cap to shareholders this year.</p><p>Outside of oil, Exxon is also active in a number of LNG projects around the world. LNG has become more important than ever as European countries are scrambling to replace Russian gas dependence.</p><p><img src=\"https://static.tigerbbs.com/139ec6ba8d98858c3a9bb29c136aaa51\" tg-width=\"1280\" tg-height=\"2229\" referrerpolicy=\"no-referrer\"/>Countries like Germany are building new LNG terminals and looking to lock down additional alternative supplies. An LNG project can take years to plan and execute, meaning LNG, like oil, is likely to stay in short supply and expensive for some time, luckily Exxon is continuing to make progress on its LNG ambitions.</p><p>ExxonMobil continued to progress its global LNG growth strategy to meet growing worldwide demand for reliable gas supply. Commissioning of the Area 4 Coral South Floating LNG project in Mozambique is underway, with first production expected this year, and the company signed the P’nyang Gas Agreement in Papua New Guinea. Additionally, construction of the Golden Pass liquefaction facilities on the U.S. Gulf Coast remains on schedule.</p><p>Financial Analysis:</p><p>Moving forward to the financial analysis, let&#39;s compare how Exxon has grown versus peers: <a href=\"https://laohu8.com/S/CVX\">Chevron</a>, <a href=\"https://laohu8.com/S/EQNR\">Equinor </a>, <a href=\"https://laohu8.com/S/TTE\">TotalEnergies </a>, and <a href=\"https://laohu8.com/S/SHEL\">Shell </a>.</p><p><img src=\"https://static.tigerbbs.com/5d57cc547f6e091e3341ba42807ffb13\" tg-width=\"635\" tg-height=\"484\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/57169c6ffa2e3512afc0d0c9e6d57c36\" tg-width=\"635\" tg-height=\"484\" referrerpolicy=\"no-referrer\"/>The oil industry has its good times, and it has its bad times. Nowhere is that more apparent than in the volatility of both revenue and earnings for these companies. Some of these companies have sizable non-petroleum operations (Total and Equinor), but they are still by in large reliant on global oil market pricing. Because of that connection, there are massive fluctuations in earnings and revenue from year to year.</p><p>This variability is undesirable as it makes forecasting future cash flows that much more difficult, because of this, I would expect an oil producer’s valuation to be lower than other stocks with more predictable cash flows.</p><p><b>Operating Cash Flow</b></p><p><img src=\"https://static.tigerbbs.com/1e2ea4e8162108664c6a0a58117bcef1\" tg-width=\"635\" tg-height=\"484\" referrerpolicy=\"no-referrer\"/>When evaluating companies, I also like to look at their operating cash flow. I find this useful because it shows us how much cash flow their operating business generated. Like the revenue and EPS charts, there is significant volatility in their operating cash flows.</p><p>Interestingly, the two US-listed companies on this chart, Exxon and Chevron, both ended the decade with less operating cash flow than when they started it, despite crude oil prices being higher now than they once were.</p><p>Equinor’s performance is particularly noteworthy, I’d wager that this is due to their site’s proximity to Europe which trying to wean off Russian oil and gas products.</p><p><b>US Crude 10-Year Chart:</b></p><p><img src=\"https://static.tigerbbs.com/6bd3b44efe2932463aea3a74fafa8b5e\" tg-width=\"1280\" tg-height=\"842\" referrerpolicy=\"no-referrer\"/><b>Return on Invested Capital</b></p><p><img src=\"https://static.tigerbbs.com/349b565b4ea043cd8f2519256983bdd2\" tg-width=\"635\" tg-height=\"484\" referrerpolicy=\"no-referrer\"/>Return on Invested Capital for these companies has varied wildly over their existences.</p><p>In times like the 2000s with oil prices, investments into oil exploration and refineries yielded huge returns on capital (upwards of 40%!). But when oil prices are low, as they were the last two years, investments fail to break through single-digit returns.</p><p><b>Exxon’s Correlation to US Oil Fund</b><img src=\"https://static.tigerbbs.com/3ce5dec941bfb602f15bbb2db2c8f0aa\" tg-width=\"635\" tg-height=\"464\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Data by YCharts</p><p>Given the strong correlation of Exxon’s earnings to oil prices, it&#39;s no surprise the stock’s price is too. As you can see, over the last 5 years Exxon has exhibited an exceptionally strong correlation to the price of crude (estimated vis-a-vis (USO) ), especially during volatile periods like Spring through Summer of 2020.</p><p>This could be viewed as either a pro or a con, if you’d like exposure to crude oil it&#39;s clearly a strength. But for myself, someone who prefers to invest in companies that are not as reliant on macro factors to succeed, I see this as a negative.</p><p><b>Valuation</b></p><p>There are many ways to value a company, but two of my favorites are the discounted cash flow analysis and comparing forward PEs vs peers. The reason I typically employ these two different models is that they help me accomplish a few different goals. First, using the forward PE analysis I can remove any biases I may hold (if I can identify the right peers). And secondly, in the discounted cash flow analysis I can adjust all the inputs to my expectations and account for growth much further into the future. Let&#39;s start with the Forward PE analysis.</p><p><b>Forward PE Analysis</b></p><p><img src=\"https://static.tigerbbs.com/715933f1b8e9696b4058e77780adb4e4\" tg-width=\"942\" tg-height=\"428\" width=\"100%\" height=\"auto\"/>Source: Yahoo Finance, Analyst Expectations, and Authors Calculations</p><p>Looking at the chart above, we can see that Exxon is one of the most highly valued oil majors with a forward PE ratio of 9.7x. Based on the average analyst expectation, Chevron is the only oil major priced more richly at 9.9x.</p><p>Exxon’s European peers Total, Equinor, and Shell are all priced significantly lower than either Exxon or Chevron. In my view, this is likely due to the heightened regulatory environment abroad.</p><p>That said, at 9.7x. Exxon’s shares are not overvalued when compared to the market as a whole, especially tech stocks. In a prior article, I calculated that Microsoft’s (MSFT) forward PE is roughly 23x, so 9.7x could still be considered quite a bargain. But many will agree that Microsoft is likely to grow faster, and for longer than Exxon or an oil company. In other words, it’s a bit of a toss-up.</p><p><img src=\"https://static.tigerbbs.com/670a5585f01403bad22b400e780d2d29\" tg-width=\"1266\" tg-height=\"462\" width=\"100%\" height=\"auto\"/>Speaking on a relative basis, based on my analysis, Exxon’s shares appear to be overvalued versus its peers. The average forward PE in this group worked out to be 7.2x earnings implying Exxon could trade down to $65 a share.</p><p>TotalEnergies looks to be the best value, if its shares are traded like Chevron, Total could see its shares double to $106.</p><p><b>Discounted Cash Flow Analysis</b></p><p>As I alluded, let&#39;s see how Exxon’s valuation changes once you consider various future growth scenarios and discount rates. For my base case, I’m assuming no changes to the share count, a 10% discount rate, 1% revenue growth after 2023 through 2028 (analyst expectations for &#39;22 and &#39;23), and -2% thereafter.</p><p><img src=\"https://static.tigerbbs.com/c6941c16d915c7665847c4106d0f0837\" tg-width=\"953\" tg-height=\"498\" width=\"100%\" height=\"auto\"/>Source: Yahoo Finance, Analyst Expectations, and Authors Calculations</p><p>Using the inputs from my base case, I come to a fair value per share of $70, a bit more than 10% below the current share price.</p><p>Given the environment of elevated oil prices and low investment in exploration, I believe oil prices could potentially be sustained over the medium/long term. But the oil market has been especially volatile since 2020 started which makes it especially difficult to predict where oil prices will go in the future.</p><p>Because of that, I included a few other growth scenarios using different discount rates.</p><p><b>Sensitivity Analysis</b></p><p><img src=\"https://static.tigerbbs.com/ef8472eb1cf81c678499f7774413a1a1\" tg-width=\"947\" tg-height=\"371\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/86c3e6d555ccd371c14b0781be64a5d9\" tg-width=\"944\" tg-height=\"279\" width=\"100%\" height=\"auto\"/>In my sensitivity analysis, three of nine scenarios work out to be money makers, largely depending on if the price of oil can be sustained/increase over time.</p><p>With Exxon, I think it&#39;s prudent to form an honest evaluation of your own knowledge and ask yourself to what degree you understand the oil industry and where prices will go from here. Frankly, I’m not a macro-economic expert, because of that and my doubts in predicting future oil price trends, I require a higher discount rate to compensate me for the additional risk.</p><p><b>Risks</b></p><p>Speaking of risks, before I present my final price target and verdict on the company, let&#39;s first consider some of the risks facing Exxon, and the oil industry writ large.</p><p><b>ESG:</b>Stock prices are fickle. In the short term, prices can be affected by a myriad of factors, especially sentiment. As Benjamin Graham said:</p><blockquote>In the short run, the market is a voting machine but in the long run it is a weighing machine.</blockquote><p><i>But what happens when sentiment is permanently destroyed?</i></p><p>I wonder if that is perhaps what has gone on with oil stocks. Since the rise of ESG investing companies have been encouraged to embrace “stake-holder” capitalism whereby the companies should place equal weight on all stakeholders, including the environment. While I don’t personally buy into this philosophy, it seems clear to me that many investors do.</p><p>As a result, ESG has cast a shadow over oil companies, often blaming them for much of what is wrong in the world. It&#39;s actually led to some funds divesting from oil companies entirely.</p><p>If, over the long run, these ESG concerns are no longer relevant, then perhaps we could see a further appreciation in share price. Personally, I don’t expect ESG to go away anytime soon. And, based on that, I don&#39;t see the earnings multiples ever coming back to where they once were.</p><p><b>Regulation:</b>Another headwind facing oil companies is regulation, now more than ever. Some countries in Europe have implemented so-called “windfall” taxes on oil companies to tax them at an increased rate now that prices are high again. To say nothing of the environmental regulations, it should be common sense that regulations desensitize further investments to increase supply.</p><p>So perhaps regulation could be a tailwind as it will cause higher oil prices… But even in that case, I think it&#39;s probable the primary beneficiaries of that would be non-democratic countries that can more easily ignore societal demands.</p><p><b>Recession:</b>I’ll keep these last couple of risks succinct. Recessions lead to demand destruction. As demand is destroyed less oil is consumed across the entire global economy. Less travel being done, fewer goods being produced and transported, etc.</p><p>This is especially worrisome given the Fed&#39;s mandate of price stability and the ongoing QT which may cause a recession.</p><p><b>Electric Vehicles:</b>The rise of electronic vehicles could threaten the long-term oil demand. First are cars, next will be semi-trucks, and then later we could see planes and boats shift towards electric. As renewable energy comes down in price, EVs will grow in demand. This will likely be a slow multi-decade shift, but it does appear we are at the beginning of a strong trend, at least in this author&#39;s mind.</p><p><b>Conclusion</b></p><p>Exxon is the right company, for the right time. In the words of Sam Elliott, in the Big Lebowski:</p><blockquote>Sometimes, there&#39;s a man, well, he&#39;s the man for his time and place. He fits right in there.</blockquote><p>And well, Exxon is the “man” for this time. Inflation fears run rampant, and supplies for both oil and LNG appear to be with us for the long haul. Exxon is the company that can provide both LNG and Petroleum when we need it most. So their shares have rightly soared.</p><p>As far as financial performance goes, well, it&#39;s checkered. They are performing well now. But how long will it last? Well, that’s anyone&#39;s guess.</p><p>Supply is likely to be low for some time but the odds of demand destruction vis-a-vis a recession seem higher than they were earlier in the year.</p><p>Valuing Exxon was a particular challenge because so much of its future cash flows will hinge on commodity prices. With that in mind, my price target and recommendation will be based on the average forward PE in its group.</p><p><i>I rate Exxon a “Sell” with a 1-year price target of $65 a share.</i></p><p>At $65 a share, Exxon would be in line with the average forward PE in its peer group, 7.2x.</p><p>So, to answer the question is Exxon the best of the oil majors? Based on what I’ve seen, no. No, it is not. Its growth rate is relatively in line with its peers, but it trades for a higher multiple, I would rather invest in (TTE) or (SHEL) at these levels.</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>Exxon: How Much Higher Can It Go?</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\">\nExxon: How Much Higher Can It Go?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-04 16:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4521571-exxon-stock-sell-how-much-higher-can-go><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAfter the crash of 2020, ESG initiatives, and a growing distaste for oil companies, investments in the industry dried up and left the world undersupplied with oil, causing prices to soar.Since ...</p>\n\n<a href=\"https://seekingalpha.com/article/4521571-exxon-stock-sell-how-much-higher-can-go\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XOM":"埃克森美孚"},"source_url":"https://seekingalpha.com/article/4521571-exxon-stock-sell-how-much-higher-can-go","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113088647","content_text":"SummaryAfter the crash of 2020, ESG initiatives, and a growing distaste for oil companies, investments in the industry dried up and left the world undersupplied with oil, causing prices to soar.Since Exxon’s 2020 low of around $33 a share the company's stock price more than tripled before retreating back down to the $88 level.In the first quarter of 2022, Exxon reported some stellar numbers. Cash flow from operations soared to $14.8B.LNG has become more important than ever as European countries are scrambling to replace Russian gas dependence.Given the environment of elevated oil prices and low investment in exploration, I believe oil prices could potentially be sustained over the medium/long term.Introduction2022 has been a great year for oil stocks like Exxon. After the oil crash of 2020, ESG initiatives, and a growing distaste for oil companies, investments in the industrydriedupand left the world undersupplied with oil, causing prices to soar.As one of the largest producers of oil, Exxon has been one of the largest beneficiaries too:Since Exxon’s 2020 low of around $33 a share the company's stock price has nearly tripled, that's after its recent retreat down from the $105 level, settling back down to $88.But, as investors, we’re faced with a conundrum: Exxon, and oil companies like it, are reaping record profits, profits that look set to continue due to record low investments, but could a potential recession turn Exxon into a losing investment? And furthermore, is Exxon the best investment among the major oil producers?Within this article I’ll provide:An update on Exxon’s business and prospectsA comparison of the financial performance of Exxon vs PeersA valuation of Exxon’s shares under different market environmentsExxon Business UpdateExxon has been a major beneficiary of the recovery in global oil prices. After decades of underinvestment, and Russia-induced geopolitical uncertainty, oil stocks are shining once again. Finally, oil is back in vogue. (XLE) (USO)In the first quarter of 2022, Exxon reported some stellar numbers. Cash flow from operations soared to $14.8B and excluding its Russia exit, earnings would have been up $6B from the prior year to $8.8B.Adjusted for Russia, Exxon’s earnings went from $2.8B to $8.8B, which is nothing short of miraculous and speaks to the correlation between Exxon’s performance and the global commodities market.In addition to the strong financial performance, Exxon likely made a few shareholders happy when they announced a $30B buyback through 2023 (roughly 8% of its current market cap). Add on to its 4% dividend yield, and Exxon looks set to return roughly 12% of its market cap to shareholders this year.Outside of oil, Exxon is also active in a number of LNG projects around the world. LNG has become more important than ever as European countries are scrambling to replace Russian gas dependence.Countries like Germany are building new LNG terminals and looking to lock down additional alternative supplies. An LNG project can take years to plan and execute, meaning LNG, like oil, is likely to stay in short supply and expensive for some time, luckily Exxon is continuing to make progress on its LNG ambitions.ExxonMobil continued to progress its global LNG growth strategy to meet growing worldwide demand for reliable gas supply. Commissioning of the Area 4 Coral South Floating LNG project in Mozambique is underway, with first production expected this year, and the company signed the P’nyang Gas Agreement in Papua New Guinea. Additionally, construction of the Golden Pass liquefaction facilities on the U.S. Gulf Coast remains on schedule.Financial Analysis:Moving forward to the financial analysis, let's compare how Exxon has grown versus peers: Chevron, Equinor , TotalEnergies , and Shell .The oil industry has its good times, and it has its bad times. Nowhere is that more apparent than in the volatility of both revenue and earnings for these companies. Some of these companies have sizable non-petroleum operations (Total and Equinor), but they are still by in large reliant on global oil market pricing. Because of that connection, there are massive fluctuations in earnings and revenue from year to year.This variability is undesirable as it makes forecasting future cash flows that much more difficult, because of this, I would expect an oil producer’s valuation to be lower than other stocks with more predictable cash flows.Operating Cash FlowWhen evaluating companies, I also like to look at their operating cash flow. I find this useful because it shows us how much cash flow their operating business generated. Like the revenue and EPS charts, there is significant volatility in their operating cash flows.Interestingly, the two US-listed companies on this chart, Exxon and Chevron, both ended the decade with less operating cash flow than when they started it, despite crude oil prices being higher now than they once were.Equinor’s performance is particularly noteworthy, I’d wager that this is due to their site’s proximity to Europe which trying to wean off Russian oil and gas products.US Crude 10-Year Chart:Return on Invested CapitalReturn on Invested Capital for these companies has varied wildly over their existences.In times like the 2000s with oil prices, investments into oil exploration and refineries yielded huge returns on capital (upwards of 40%!). But when oil prices are low, as they were the last two years, investments fail to break through single-digit returns.Exxon’s Correlation to US Oil FundData by YChartsGiven the strong correlation of Exxon’s earnings to oil prices, it's no surprise the stock’s price is too. As you can see, over the last 5 years Exxon has exhibited an exceptionally strong correlation to the price of crude (estimated vis-a-vis (USO) ), especially during volatile periods like Spring through Summer of 2020.This could be viewed as either a pro or a con, if you’d like exposure to crude oil it's clearly a strength. But for myself, someone who prefers to invest in companies that are not as reliant on macro factors to succeed, I see this as a negative.ValuationThere are many ways to value a company, but two of my favorites are the discounted cash flow analysis and comparing forward PEs vs peers. The reason I typically employ these two different models is that they help me accomplish a few different goals. First, using the forward PE analysis I can remove any biases I may hold (if I can identify the right peers). And secondly, in the discounted cash flow analysis I can adjust all the inputs to my expectations and account for growth much further into the future. Let's start with the Forward PE analysis.Forward PE AnalysisSource: Yahoo Finance, Analyst Expectations, and Authors CalculationsLooking at the chart above, we can see that Exxon is one of the most highly valued oil majors with a forward PE ratio of 9.7x. Based on the average analyst expectation, Chevron is the only oil major priced more richly at 9.9x.Exxon’s European peers Total, Equinor, and Shell are all priced significantly lower than either Exxon or Chevron. In my view, this is likely due to the heightened regulatory environment abroad.That said, at 9.7x. Exxon’s shares are not overvalued when compared to the market as a whole, especially tech stocks. In a prior article, I calculated that Microsoft’s (MSFT) forward PE is roughly 23x, so 9.7x could still be considered quite a bargain. But many will agree that Microsoft is likely to grow faster, and for longer than Exxon or an oil company. In other words, it’s a bit of a toss-up.Speaking on a relative basis, based on my analysis, Exxon’s shares appear to be overvalued versus its peers. The average forward PE in this group worked out to be 7.2x earnings implying Exxon could trade down to $65 a share.TotalEnergies looks to be the best value, if its shares are traded like Chevron, Total could see its shares double to $106.Discounted Cash Flow AnalysisAs I alluded, let's see how Exxon’s valuation changes once you consider various future growth scenarios and discount rates. For my base case, I’m assuming no changes to the share count, a 10% discount rate, 1% revenue growth after 2023 through 2028 (analyst expectations for '22 and '23), and -2% thereafter.Source: Yahoo Finance, Analyst Expectations, and Authors CalculationsUsing the inputs from my base case, I come to a fair value per share of $70, a bit more than 10% below the current share price.Given the environment of elevated oil prices and low investment in exploration, I believe oil prices could potentially be sustained over the medium/long term. But the oil market has been especially volatile since 2020 started which makes it especially difficult to predict where oil prices will go in the future.Because of that, I included a few other growth scenarios using different discount rates.Sensitivity AnalysisIn my sensitivity analysis, three of nine scenarios work out to be money makers, largely depending on if the price of oil can be sustained/increase over time.With Exxon, I think it's prudent to form an honest evaluation of your own knowledge and ask yourself to what degree you understand the oil industry and where prices will go from here. Frankly, I’m not a macro-economic expert, because of that and my doubts in predicting future oil price trends, I require a higher discount rate to compensate me for the additional risk.RisksSpeaking of risks, before I present my final price target and verdict on the company, let's first consider some of the risks facing Exxon, and the oil industry writ large.ESG:Stock prices are fickle. In the short term, prices can be affected by a myriad of factors, especially sentiment. As Benjamin Graham said:In the short run, the market is a voting machine but in the long run it is a weighing machine.But what happens when sentiment is permanently destroyed?I wonder if that is perhaps what has gone on with oil stocks. Since the rise of ESG investing companies have been encouraged to embrace “stake-holder” capitalism whereby the companies should place equal weight on all stakeholders, including the environment. While I don’t personally buy into this philosophy, it seems clear to me that many investors do.As a result, ESG has cast a shadow over oil companies, often blaming them for much of what is wrong in the world. It's actually led to some funds divesting from oil companies entirely.If, over the long run, these ESG concerns are no longer relevant, then perhaps we could see a further appreciation in share price. Personally, I don’t expect ESG to go away anytime soon. And, based on that, I don't see the earnings multiples ever coming back to where they once were.Regulation:Another headwind facing oil companies is regulation, now more than ever. Some countries in Europe have implemented so-called “windfall” taxes on oil companies to tax them at an increased rate now that prices are high again. To say nothing of the environmental regulations, it should be common sense that regulations desensitize further investments to increase supply.So perhaps regulation could be a tailwind as it will cause higher oil prices… But even in that case, I think it's probable the primary beneficiaries of that would be non-democratic countries that can more easily ignore societal demands.Recession:I’ll keep these last couple of risks succinct. Recessions lead to demand destruction. As demand is destroyed less oil is consumed across the entire global economy. Less travel being done, fewer goods being produced and transported, etc.This is especially worrisome given the Fed's mandate of price stability and the ongoing QT which may cause a recession.Electric Vehicles:The rise of electronic vehicles could threaten the long-term oil demand. First are cars, next will be semi-trucks, and then later we could see planes and boats shift towards electric. As renewable energy comes down in price, EVs will grow in demand. This will likely be a slow multi-decade shift, but it does appear we are at the beginning of a strong trend, at least in this author's mind.ConclusionExxon is the right company, for the right time. In the words of Sam Elliott, in the Big Lebowski:Sometimes, there's a man, well, he's the man for his time and place. He fits right in there.And well, Exxon is the “man” for this time. Inflation fears run rampant, and supplies for both oil and LNG appear to be with us for the long haul. Exxon is the company that can provide both LNG and Petroleum when we need it most. So their shares have rightly soared.As far as financial performance goes, well, it's checkered. They are performing well now. But how long will it last? Well, that’s anyone's guess.Supply is likely to be low for some time but the odds of demand destruction vis-a-vis a recession seem higher than they were earlier in the year.Valuing Exxon was a particular challenge because so much of its future cash flows will hinge on commodity prices. With that in mind, my price target and recommendation will be based on the average forward PE in its group.I rate Exxon a “Sell” with a 1-year price target of $65 a share.At $65 a share, Exxon would be in line with the average forward PE in its peer group, 7.2x.So, to answer the question is Exxon the best of the oil majors? Based on what I’ve seen, no. No, it is not. Its growth rate is relatively in line with its peers, but it trades for a higher multiple, I would rather invest in (TTE) or (SHEL) at these levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045712281,"gmtCreate":1656654340243,"gmtModify":1676535872252,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Nice lah STI","listText":"Nice lah STI","text":"Nice lah STI","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045712281","repostId":"1111992117","repostType":4,"repost":{"id":"1111992117","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":1656647747,"share":"https://www.laohu8.com/m/news/1111992117?lang=&edition=full","pubTime":"2022-07-01 11:55","market":"us","language":"en","title":"Tiger Chart | None of the World's Major Stock Indexes Rose in H1 2022, Nasdaq Tumbled Nearly 30%","url":"https://stock-news.laohu8.com/highlight/detail?id=1111992117","media":"Tiger Newspress","summary":"In 2022 H1, due to Fed's rate hikes and the conflicts between Russia and Ukraine, major stock indexe","content":"<html><head></head><body><p>In 2022 H1, due to Fed&#39;s rate hikes and the conflicts between Russia and Ukraine, major stock indexes fell around the world. STI led with the loss of 0.69% while Nasdaq was the biggest loser with a 29.51% decline.</p><p>In China, Hang Seng Index slid 6.57% while SSE Composite Index slid 6.63%, which ranked No.3 and No.4 separately.</p><p><img src=\"https://static.tigerbbs.com/28caf3e1f04f4e3bdd4839501dcf040f\" tg-width=\"746\" tg-height=\"1939\" referrerpolicy=\"no-referrer\"/></p><p>Meanwhile, the U.S. stock market was under pressure. Nasdaq, S&amp;P 500, and Dow Jones indexes fell 29.51%, 20.58%, and 15.31%, respectively, S&amp;P 500 had its worst first half since 1970, while the VIX soared nearly 67%.</p><p><img src=\"https://static.tigerbbs.com/5815e5fb2947c5dfc11deaac3cc7dfdd\" tg-width=\"1500\" tg-height=\"1700\" referrerpolicy=\"no-referrer\"/></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>Tiger Chart | None of the World's Major Stock Indexes Rose in H1 2022, Nasdaq Tumbled Nearly 30%</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\">\nTiger Chart | None of the World's Major Stock Indexes Rose in H1 2022, Nasdaq Tumbled Nearly 30%\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 11:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>In 2022 H1, due to Fed&#39;s rate hikes and the conflicts between Russia and Ukraine, major stock indexes fell around the world. STI led with the loss of 0.69% while Nasdaq was the biggest loser with a 29.51% decline.</p><p>In China, Hang Seng Index slid 6.57% while SSE Composite Index slid 6.63%, which ranked No.3 and No.4 separately.</p><p><img src=\"https://static.tigerbbs.com/28caf3e1f04f4e3bdd4839501dcf040f\" tg-width=\"746\" tg-height=\"1939\" referrerpolicy=\"no-referrer\"/></p><p>Meanwhile, the U.S. stock market was under pressure. Nasdaq, S&amp;P 500, and Dow Jones indexes fell 29.51%, 20.58%, and 15.31%, respectively, S&amp;P 500 had its worst first half since 1970, while the VIX soared nearly 67%.</p><p><img src=\"https://static.tigerbbs.com/5815e5fb2947c5dfc11deaac3cc7dfdd\" tg-width=\"1500\" tg-height=\"1700\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSI":"恒生指数","000001.SH":"上证指数","VIX":"标普500波动率指数","STI.SI":"富时新加坡海峡指数",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","XJO.AU":"标普/澳交所 200指数",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111992117","content_text":"In 2022 H1, due to Fed's rate hikes and the conflicts between Russia and Ukraine, major stock indexes fell around the world. STI led with the loss of 0.69% while Nasdaq was the biggest loser with a 29.51% decline.In China, Hang Seng Index slid 6.57% while SSE Composite Index slid 6.63%, which ranked No.3 and No.4 separately.Meanwhile, the U.S. stock market was under pressure. Nasdaq, S&P 500, and Dow Jones indexes fell 29.51%, 20.58%, and 15.31%, respectively, S&P 500 had its worst first half since 1970, while the VIX soared nearly 67%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9986460428,"gmtCreate":1667004763564,"gmtModify":1676537847504,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9986460428","repostId":"2279833325","repostType":4,"repost":{"id":"2279833325","pubTimestamp":1667000328,"share":"https://www.laohu8.com/m/news/2279833325?lang=&edition=full","pubTime":"2022-10-29 07:38","market":"us","language":"en","title":"US STOCKS-Wall Street Surges to Sharply Higher Close Ahead of Fed Week","url":"https://stock-news.laohu8.com/highlight/detail?id=2279833325","media":"Reuters","summary":"A robust, broad-based rally sent Wall Street to a sharply higher close on Friday as encouraging econ","content":"<html><head></head><body><p>A robust, broad-based rally sent Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fueled investor risk appetite ahead of next week&#39;s much-anticipated two-day policy meeting of the Federal Reserve.</p><p>All major U.S. indexes ended the session up about 2.5% or more, with the S&amp;P and the Nasdaq notching their second straight weekly gains. The blue-chip Dow posted its fourth consecutive Friday-to-Friday advance and its biggest weekly percentage gain since May.</p><p>&#34;This has been one of the best months (so far) in the history of the Dow, suggesting the bear market likely ended,&#34; said Ryan Detrick, chief market strategist at Carson Group in Omaha. &#34;Big monthly moves historically happen at the end of bear markets.&#34;</p><p>&#34;This is the second Friday in a row we’ve seen aggressive buying suggesting investors are growing more comfortable holding over the weekend,&#34; Detrick added.</p><p>A 7.6% rebound in Apple Inc helped soften the blow of the 6.8% plunge for Amazon.com shares, in the wake of the two market leaders&#39; results.</p><p>Solid earnings beats from Chevron, Exxon Mobil and other companies outside the tech and tech-adjacent megacap group have brightened aggregate earnings estimates for the quarter.</p><p>Analysts now see third-quarter S&amp;P 500 earnings growth of 4.1%, up from 2.5% on Thursday, according to Refinitiv data.</p><p>&#34;We’ve seen some high-profile misses from significant large-cap names,&#34; Detrick said. &#34;But under the surface many of the smaller and midsize companies have been quite impressive with their earnings results.&#34;</p><p>On the economics front, the Commerce and Labor Departments released data that showed robust consumer spending and easing wage growth, respectively.</p><p>Financial markets have now priced in an 84.5% likelihood of a fifth consecutive 75 basis point interest rate hike at the conclusion of the Fed&#39;s Nov. 1-2 policy meeting, and a 51.4% chance the central bank will decelerate to 50 basis points in December, according to CME&#39;s FedWatch tool.</p><p>&#34;The door is cracked open on the possibility that we might see a more dovish Fed come December’s policy meeting, whereas a month ago that door was locked and slammed shut,&#34; Detrick added.</p><p>The Dow Jones Industrial Average rose 828.52 points, or 2.59%, to 32,861.8, the S&amp;P 500 gained 93.76 points, or 2.46%, to 3,901.06 and the Nasdaq Composite added 309.78 points, or 2.87%, to 11,102.45.</p><p>Of the 11 major sectors of the S&amp;P 500, all but consumer discretionary stocks, weighed down by Amazon shares, ended the session green. Tech shares enjoyed the largest percentage gain.</p><p>Third-quarter reporting season has passed the halfway point, with 263 of the companies in the S&amp;P 500 having reported. Of those, 73% have beaten consensus expectations, according to Refinitiv.</p><p>Intel Corp jumped 10.7% after cutting its spending forecast, while <a href=\"https://laohu8.com/S/TMUSR\">T-Mobile US Inc</a>&#39;s subscriber forecast hike sent its shares up 7.4%.</p><p>Twitter Inc was delisted from the New York Stock Exchange, closing the book on Tesla Inc chief Elon Musk&#39;s $44 billion purchase of the company.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.87-to-1 ratio; on Nasdaq, a 2.12-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 32 new 52-week highs and eight new lows; the Nasdaq Composite recorded 117 new highs and 115 new lows.</p><p>Volume on U.S. exchanges was 11.26 billion shares, compared with the 11.53 billion average over the last 20 trading days. </p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall Street Surges to Sharply Higher Close Ahead of Fed Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Surges to Sharply Higher Close Ahead of Fed Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-29 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-stocks-wall-street-surges-202811494.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A robust, broad-based rally sent Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fueled investor risk appetite ahead of next week's much-...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-wall-street-surges-202811494.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/us-stocks-wall-street-surges-202811494.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2279833325","content_text":"A robust, broad-based rally sent Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fueled investor risk appetite ahead of next week's much-anticipated two-day policy meeting of the Federal Reserve.All major U.S. indexes ended the session up about 2.5% or more, with the S&P and the Nasdaq notching their second straight weekly gains. The blue-chip Dow posted its fourth consecutive Friday-to-Friday advance and its biggest weekly percentage gain since May.\"This has been one of the best months (so far) in the history of the Dow, suggesting the bear market likely ended,\" said Ryan Detrick, chief market strategist at Carson Group in Omaha. \"Big monthly moves historically happen at the end of bear markets.\"\"This is the second Friday in a row we’ve seen aggressive buying suggesting investors are growing more comfortable holding over the weekend,\" Detrick added.A 7.6% rebound in Apple Inc helped soften the blow of the 6.8% plunge for Amazon.com shares, in the wake of the two market leaders' results.Solid earnings beats from Chevron, Exxon Mobil and other companies outside the tech and tech-adjacent megacap group have brightened aggregate earnings estimates for the quarter.Analysts now see third-quarter S&P 500 earnings growth of 4.1%, up from 2.5% on Thursday, according to Refinitiv data.\"We’ve seen some high-profile misses from significant large-cap names,\" Detrick said. \"But under the surface many of the smaller and midsize companies have been quite impressive with their earnings results.\"On the economics front, the Commerce and Labor Departments released data that showed robust consumer spending and easing wage growth, respectively.Financial markets have now priced in an 84.5% likelihood of a fifth consecutive 75 basis point interest rate hike at the conclusion of the Fed's Nov. 1-2 policy meeting, and a 51.4% chance the central bank will decelerate to 50 basis points in December, according to CME's FedWatch tool.\"The door is cracked open on the possibility that we might see a more dovish Fed come December’s policy meeting, whereas a month ago that door was locked and slammed shut,\" Detrick added.The Dow Jones Industrial Average rose 828.52 points, or 2.59%, to 32,861.8, the S&P 500 gained 93.76 points, or 2.46%, to 3,901.06 and the Nasdaq Composite added 309.78 points, or 2.87%, to 11,102.45.Of the 11 major sectors of the S&P 500, all but consumer discretionary stocks, weighed down by Amazon shares, ended the session green. Tech shares enjoyed the largest percentage gain.Third-quarter reporting season has passed the halfway point, with 263 of the companies in the S&P 500 having reported. Of those, 73% have beaten consensus expectations, according to Refinitiv.Intel Corp jumped 10.7% after cutting its spending forecast, while T-Mobile US Inc's subscriber forecast hike sent its shares up 7.4%.Twitter Inc was delisted from the New York Stock Exchange, closing the book on Tesla Inc chief Elon Musk's $44 billion purchase of the company.Advancing issues outnumbered declining ones on the NYSE by a 2.87-to-1 ratio; on Nasdaq, a 2.12-to-1 ratio favored advancers.The S&P 500 posted 32 new 52-week highs and eight new lows; the Nasdaq Composite recorded 117 new highs and 115 new lows.Volume on U.S. exchanges was 11.26 billion shares, compared with the 11.53 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":3,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9077532804,"gmtCreate":1658540523708,"gmtModify":1676536173699,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9077532804","repostId":"9077597061","repostType":1,"repost":{"id":9077597061,"gmtCreate":1658539908353,"gmtModify":1676536173493,"author":{"id":"4101948424484190","authorId":"4101948424484190","name":"Success88","avatar":"https://static.itradeup.com/news/4408e1a22d73e99adb53aa65dde8ad91","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/STM\">$STMicroelectronics NV(STM)$</a>Waiting STM to drop and check in. Why? This company is chip maker and had potential to grow. With many automotive product lineup. The future is automotive business. I would like the share price to drop a little lower then I check in. My Target price is at $30. Recently read some articles related to car battery and start notice this company.&nbsp;<a href=\"https://ttm.financial/U/3527667621665671\">@Daily_Discussion</a>","listText":"<a href=\"https://ttm.financial/S/STM\">$STMicroelectronics NV(STM)$</a>Waiting STM to drop and check in. Why? This company is chip maker and had potential to grow. With many automotive product lineup. The future is automotive business. I would like the share price to drop a little lower then I check in. My Target price is at $30. Recently read some articles related to car battery and start notice this company.&nbsp;<a href=\"https://ttm.financial/U/3527667621665671\">@Daily_Discussion</a>","text":"$STMicroelectronics NV(STM)$Waiting STM to drop and check in. Why? This company is chip maker and had potential to grow. With many automotive product lineup. The future is automotive business. I would like the share price to drop a little lower then I check in. My Target price is at $30. Recently read some articles related to car battery and start notice this company. @Daily_Discussion","images":[{"img":"https://community-static.tradeup.com/news/9aa708ab050c071c45698d4113f10b91","width":"828","height":"3505"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9077597061","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4113904591642392","authorId":"4113904591642392","name":"LMSunshine","avatar":"https://community-static.tradeup.com/news/0ad636f2490d8428fcee9da6d669e46c","crmLevel":1,"crmLevelSwitch":0},"content":"Are you new to Tiger?If yes,🥳welcome to the Tiger Community.I can’t follow more people as my app keeps crashing.If you follow me,I can check your homepage regularly & help to like your posts too!","text":"Are you new to Tiger?If yes,🥳welcome to the Tiger Community.I can’t follow more people as my app keeps crashing.If you follow me,I can check your homepage regularly & help to like your posts too!","html":"Are you new to Tiger?If yes,🥳welcome to the Tiger Community.I can’t follow more people as my app keeps crashing.If you follow me,I can check your homepage regularly & help to like your posts too!"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045320864,"gmtCreate":1656563052558,"gmtModify":1676535854947,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045320864","repostId":"1121505043","repostType":4,"repost":{"id":"1121505043","pubTimestamp":1656561665,"share":"https://www.laohu8.com/m/news/1121505043?lang=&edition=full","pubTime":"2022-06-30 12:01","market":"us","language":"en","title":"NIO: Questions And Challenges To The Grizzly Short-Seller Report","url":"https://stock-news.laohu8.com/highlight/detail?id=1121505043","media":"seekingalpha","summary":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is f","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Short-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.</li><li>The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.</li><li>The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly&#39;s claims of financial manipulation at NIO.</li><li>However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO&#39;s BaaS operations.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/346379c1e5a1a4087e614ef0b8a18caa\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"/><span>Drew Angerer/Getty Images News</span></p><p>Grizzly Research (&#34;Grizzly&#34;) has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.</p><p>While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.</p><p><b>Accounting Crash Course: NIO’s BaaS Revenue Recognition Method</b></p><p>Through publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.</p><p>In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.</p><p>Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.</p><p>Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b533b2a1e657134b3b33f231c2b11f74\" tg-width=\"640\" tg-height=\"292\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Related Party Disclosures (IAS)</span></p><p>Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d726db76c4884663e28c157208e5cd77\" tg-width=\"640\" tg-height=\"150\" referrerpolicy=\"no-referrer\"/><span>NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)</span></p><p>In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4bf30456c1ff78b902edfa34d719f150\" tg-width=\"598\" tg-height=\"175\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p>This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.</p><p>Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.</p><p><b>Grizzly’s Core Short Thesis</b></p><p>Grizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).</p><p>In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.</p><p>In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:</p><p><b>Opportunity:</b>As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.</p><p>The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.</p><p><b>Incentive:</b>Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.</p><p>Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.</p><p><b>Rationalization:</b>The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.</p><p>NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.</p><p><b>Challenging Grizzly’s Conclusion on “Control” Established by NIO Over Weineng</b></p><p>In addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.</p><p>First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.</p><p>Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/505c64f7bc18c02131dd830e5f2a5462\" tg-width=\"640\" tg-height=\"260\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Investments in Associates and Joint Ventures (IAS)</span></p><p>Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:</p><p>1. “<b>Power</b>” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.</p><p>2. Exposure to<i>variable returns</i>from the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.</p><p>As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.</p><p>Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established in<i>Internal Control – Integrated Framework</i>(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.</p><p>3. The acquiring party is a<i>principal</i>in the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:</p><ul><li>Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.</li><li>The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.</li><li>In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section<i>(r) Revenue recognition</i>in the 2021 20F.</li><li>As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.</li></ul><p><b>Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit Inflation</b></p><p>Grizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:</p><p><b>1. Frontloaded Revenue via Battery Sales to Weineng</b></p><p><b>Grizzly’s accusation.</b>As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.</p><p>Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.</p><p>Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21e7d58b24ac2bde6344b4206ef9be8e\" tg-width=\"592\" tg-height=\"395\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)</span></p><p>As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.</p><p>The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.</p><p>To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.</p><p><b>Issue with Grizzly’s claim.</b>In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.</p><p>While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).</p><p>When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.</p><p><b>Livy’s revised calculation of quantified impacts.</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/324a74d6eeeb60a4bd2da9251d4d6ed8\" tg-width=\"640\" tg-height=\"416\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Revenue and Income Variances Pertaining to NIO&#39;s Alleged Frontloading of BaaS Sales (Author)</span></p><p>The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.</p><p><b>2. Revenues from Oversupplied Batteries to Weineng</b></p><p><b>Grizzly’s accusation.</b>Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.</p><p>However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.</p><p>While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.</p><p><b>Livy’s response.</b>While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.</p><p>Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.</p><p>There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.</p><p><b>Grizzly’s calculation of quantified impacts.</b>In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a2497da8272eec2b6020c07b7ee06b1f\" tg-width=\"580\" tg-height=\"420\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)</span></p><p>In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.</p><p>Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.</p><p>We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.</p><p><b>3. Shifting Depreciation Costs</b></p><p><b>Grizzly’s Accusations.</b>Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.</p><p>Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.</p><p>Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.</p><p><b>Issue with Grizzly’s claim.</b>There are two folds to this situation:</p><p><b>1. BaaS Business Model:</b>Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e89611dda7a7e83881997628fe7aae3\" tg-width=\"640\" tg-height=\"187\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p><b>2. Battery Sales Business Model:</b>in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.</p><p>As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.</p><p>If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/96f972c8d488406cd690b0672265e62b\" tg-width=\"576\" tg-height=\"498\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Total Revenue and Income Inflation (Grizzly Research)</span></p><p>As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.</p><p><b>Livy’s revised calculation of quantified impacts.</b>While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.</p><p>Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1ffe9833bb562f66e5365e077d7741d4\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/230a54833c34b3a9920a03524c28e960\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ccf9a3a0482b46cee102e66d5137113f\" tg-width=\"640\" tg-height=\"220\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Revenue Overstatement (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c7ec5a61d7fd491aec81d9a48a92020\" tg-width=\"640\" tg-height=\"188\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatement in Net Income (Author)</span></p><p>Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (&lt; 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.</p><p><b>Final Thoughts</b></p><p>As discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).</p><p>While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.</p><p>At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.</p><p>This article was written by Livy Investment Research</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Questions And Challenges To The Grizzly Short-Seller Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Questions And Challenges To The Grizzly Short-Seller Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-30 12:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is ...</p>\n\n<a href=\"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO.SI":"蔚来","NIO":"蔚来","09866":"蔚来-SW"},"source_url":"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1121505043","content_text":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly's claims of financial manipulation at NIO.However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO's BaaS operations.Drew Angerer/Getty Images NewsGrizzly Research (\"Grizzly\") has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.Accounting Crash Course: NIO’s BaaS Revenue Recognition MethodThrough publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:GAAP Rules on Related Party Disclosures (IAS)Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:Journal Entries for Battery Sales Business Model (Author)In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:Journal Entries for BaaS Business Model (Author)This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.Grizzly’s Core Short ThesisGrizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:Opportunity:As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.Incentive:Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.Rationalization:The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.Challenging Grizzly’s Conclusion on “Control” Established by NIO Over WeinengIn addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:GAAP Rules on Investments in Associates and Joint Ventures (IAS)Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:1. “Power” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.2. Exposure tovariable returnsfrom the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established inInternal Control – Integrated Framework(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.3. The acquiring party is aprincipalin the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section(r) Revenue recognitionin the 2021 20F.As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit InflationGrizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:1. Frontloaded Revenue via Battery Sales to WeinengGrizzly’s accusation.As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.Grizzly’s calculation of quantified impacts.Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:Grizzly's Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.Issue with Grizzly’s claim.In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.Livy’s revised calculation of quantified impacts.Livy's Computation of Revenue and Income Variances Pertaining to NIO's Alleged Frontloading of BaaS Sales (Author)The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.2. Revenues from Oversupplied Batteries to WeinengGrizzly’s accusation.Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.Livy’s response.While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.Grizzly’s calculation of quantified impacts.In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:Grizzly's Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.3. Shifting Depreciation CostsGrizzly’s Accusations.Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.Issue with Grizzly’s claim.There are two folds to this situation:1. BaaS Business Model:Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:Journal Entries for BaaS Business Model (Author)2. Battery Sales Business Model:in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:Journal Entries for Battery Sales Business Model (Author)Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.Grizzly’s calculation of quantified impacts.Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:Grizzly's Computation of Total Revenue and Income Inflation (Grizzly Research)As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.Livy’s revised calculation of quantified impacts.While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:Livy's Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)Livy's Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)Livy's Computation of Alleged Revenue Overstatement (Author)Livy's Computation of Alleged Overstatement in Net Income (Author)Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (< 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.Final ThoughtsAs discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.This article was written by Livy Investment Research","news_type":1},"isVote":1,"tweetType":1,"viewCount":39,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9958423875,"gmtCreate":1673800993998,"gmtModify":1676538887713,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"[Happy]&nbsp;[Miser]&nbsp;[What]&nbsp;[Cool]&nbsp;","listText":"[Happy]&nbsp;[Miser]&nbsp;[What]&nbsp;[Cool]&nbsp;","text":"[Happy] [Miser] [What] [Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9958423875","isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9950960930,"gmtCreate":1672642284521,"gmtModify":1676538715119,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9950960930","isVote":1,"tweetType":1,"viewCount":20,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9070917064,"gmtCreate":1656993759058,"gmtModify":1676535929365,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9070917064","repostId":"1129041123","repostType":4,"repost":{"id":"1129041123","pubTimestamp":1656977325,"share":"https://www.laohu8.com/m/news/1129041123?lang=&edition=full","pubTime":"2022-07-05 07:28","market":"us","language":"en","title":"7 Deeply Undervalued Growth Stocks to Buy Now","url":"https://stock-news.laohu8.com/highlight/detail?id=1129041123","media":"investorplace","summary":"These high-quality growth stocks have witnessed deep corrections and look oversold. They should be g","content":"<html><head></head><body><ul><li>These high-quality growth stocks have witnessed deep corrections and look oversold. They should be good buys for long-term investors.</li><li><b>Xpeng</b>(<b><u>XPEV</u></b>): Strong deliveries growth to sustain with expansion in Europe and new model launches.</li><li><b>Pinterest</b>(<b><u>PINS</u></b>): Growth in emerging market average revenue per user will boost cash flows. A proxy e-commerce platform with global presence.</li><li><b>ChargePoint</b>(<b><u>CHPT</u></b>): Positioned for accelerated growth with leadership position in North America and an aggressive expansion in Europe.</li><li><b>Coupang</b>(<b><u>CPNG</u></b>): Oversold with steady growth likely to sustain. Positive adjusted EBITDA visibility is a key catalyst.</li><li><b>Sea Limited</b>(<b><u>SE</u></b>): Exposure to high-growth markets like Southeast Asia and Latin America and strong growth in the digital payments segment.</li><li><b>Coinbase</b>(<b><u>COIN</u></b>): Strong cash buffer for product development even during the downturn for cryptocurrencies.</li><li><b>Roblox</b>(<b><u>RBLX</u></b>): Long-term growth visibility considering the expected growth in the metaverse space, coupled with positive free cash flows.</li></ul><p><img src=\"https://static.tigerbbs.com/0bda0e0190c549871db25e4515355407\" tg-width=\"768\" tg-height=\"432\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Source: Shutterstock</p><p>In financial markets, cash flows, growth outlook and valuation does matter. However, investor sentiment plays a key role in driving growth stocks higher or lower. When the economic outlook is positive and the financial system has ample liquidity, growth stocks tend to command a valuation premium.</p><p>On the other hand, when the economic outlook weakens and contractionary monetary policies are pursued, growth stocks trade at valuation gaps. In simple words, corrections are overdone.</p><p>It’s no rocket science to understand the fact that the time to invest in stocks is when sentiments are pessimistic. However, the fear and greed psychology are such that investors buy on euphoria and sell on panic. Be it trading or investing, it’s a mind game.</p><p>With several growth stocks plunging in the last few months, there seems to be another golden buying opportunity. Of course, not all growth stocks will recover. There are stories that culminate with the bear markets. However, others will recover and deliver multi-fold returns in the long-term.</p><p>These seven growth stocks look attractive for long-term exposure.</p><table><tbody><tr><td><b>Ticker</b></td><td><b>Company</b></td><td><b>Current Price</b></td></tr><tr><td><b><u>XPEV</u></b></td><td>XPeng Inc.</td><td>$30.28</td></tr><tr><td><b><u>PINS</u></b></td><td>Pinterest, Inc.</td><td>$18.71</td></tr><tr><td><b><u>CHPT</u></b></td><td>ChargePoint Holdings, Inc.</td><td>$12.69</td></tr><tr><td><b><u>CPNG</u></b></td><td>Coupang, Inc.</td><td>$15.04</td></tr><tr><td><b><u>SE</u></b></td><td>Sea Limited</td><td>$69.06</td></tr><tr><td><b><u>COIN</u></b></td><td>Coinbase Global, Inc.</td><td>$49.04</td></tr><tr><td><b><u>RBLX</u></b></td><td>Roblox Corporation</td><td>$35.07</td></tr></tbody></table><h2>Growth Stocks: Xpeng (XPEV)<img src=\"https://static.tigerbbs.com/da010157a2d0baf3c155347d8a613310\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></h2><p>In the last month,<b>XPeng</b>(NYSE:<b><u>XPEV</u></b>) stock has surged by 26%. The rally from deeply oversold levels is on the back of policy support for electric vehicles in China.</p><p>However, even after the big upside, XPEV stock is down by 30% on a 12-month basis. With sustained positive developments even from a company specific perspective, the stock is still undervalued.</p><p>For the first quarter, XPeng reported159% growth in vehicle deliveriesto 34,561. The company’s gross margin also increased by 100 basis points on a year-on-year basis to 12.2%.</p><p>It’s worth noting that XPeng launched P5 sedan in October 2021. Further, the launch of G9 is due in the last quarter of 2022. New models will continue to boost deliveries growth once temporary industry headwinds are navigated.</p><p>XPeng also has ambitious international expansion plans. With increasing presence in Europe, the company’s growth will be supported in the next few years. As deliveries growth remains strong, operating leverage will also translate into vehicle margin expansion.</p><h2>Pinterest (PINS)<img src=\"https://static.tigerbbs.com/8120a1c75232eafd16bb7714afb3132d\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></h2><p><b>Pinterest</b>(NYSE:<b><u>PINS</u></b>) stock is down nearly 4% in the last month and by 50% so far in 2022. However, at a forward price-earnings ratio of 22.8, the stock still seems undervalued.</p><p>I have two major reasons to like Pinterest.</p><p>First, the company reported more than 50% of active users from outside the U.S. and Europe. However, the average revenue per user from therest of the world was just eight cents. In comparison, the ARPU from U.S. and Canada is $4.98. Even from Europe, the ARPU is 72 cents. There is immense scope for ARPU upside from emerging markets. This is a catalyst for revenue and cash flow upside.</p><p>Furthermore, the focus of Pinterest is to make the platform shopping friendly. I see the company as a proxy global e-commerce platform. Recently, Pinterestcompleted the acquisitionof the The Yes, an AI-powered shopping platform. With further inroads as a proxy e-commerce platform, the company is positioned to benefit.</p><h3>ChargePoint Holdings (CHPT)<img src=\"https://static.tigerbbs.com/a070198e2b665b5b9db97c2f2380138a\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></h3><p>The electric vehicle industry has multi-year tailwinds. Europe is focused on reducing dependence on Russia for energy needs. Adoption of electric vehicles is one way to achieve this objective. In the United States, the Biden administration plans to spend $5 billion towards EV charging stations.</p><p>With these tailwinds,<b>ChargePoint</b>(NYSE:<b><u>CHPT</u></b>) is among the top growth stocks to consider. The company already has leadership position in North America and has expanded to 16 countries in Europe.</p><p>Currently, a majority of revenue comes from North America. However, as European expansion gains traction, top-line growth is likely to accelerate. ChargePoint also derives revenue fromhardware and software solutions.</p><p>As the charging network expands, software revenue (recurring revenue) will increase. This will have a positive impact on the company’s EBITDA margin. For now, the cash burn is likely to sustain with aggressive investments. However, that’s unlikely to be a major concern for a growth stage company.</p><h2>Growth Stocks: Coupang (CPNG)<img src=\"https://static.tigerbbs.com/e1ea550de95b8c5321af2d188ab1a7ad\" tg-width=\"300\" tg-height=\"169\" width=\"100%\" height=\"auto\"/></h2><p>The markets have punished<b>Coupang</b>(NYSE:<b><u>CPNG</u></b>) stock on growth and profitability concerns. However, after a decline of 49% in 2022, CPNG stock seems undervalued.</p><p>On a constant currency basis, Coupang reported revenue growth of 32% for the first quarter from a year ago. The company’s adjusted EBITDA losses also narrowed during the quarter.</p><p>It seems likely that a growth rate of around 30% is sustainable in the coming years. International expansion is one reason for this view. At the same time, Korea has 37 million online shoppers. Currently, Coupang has 18 million active customers. There is ample scope for growth within Korea.</p><p>In terms of profitability, Coupang expects to deliver long-term adjusted EBITDA in therange of 7% to 10%. The company has also guided for positive adjusted EBITDA from the product commerce segment by the end of the year. If this target is achieved, CPNG stock is likely to trend higher.</p><h2>Sea Limited (SE)<img src=\"https://static.tigerbbs.com/e5edea871eb90b0fbf049cfa6de17fa3\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></h2><p>Another e-commerce stock that’s trading at attractive levels is<b>Sea Limited</b>(NYSE:<b><u>SE</u></b>). A correction of 68% so far this year has been on the back of cash burn and relative deceleration in growth.</p><p>However, the long-term outlook remains robust with Sea Limited focused on high-growth markets. The company already has strong presence in Southeast Asia. With inroads into Latin America, the company’s growth momentum will remain strong.</p><p>I am also bullish on the company’s financial services segment. For the first quarter, active users increased by 78% on a year-on-year basis to 49 million. The total payment volume for mobile wallet has also witnessed sustained growth.</p><p>Cash burn is a concern. However, Sea Limited expects Shopee toachieve positive adjusted EBITDAin Southeast Asia and Taiwan by the end of 2023. As robust top-line growth sustains, operating leverage will drive profitability.</p><p>In the near term, Sea Limited has $8.8 billion in cash and short-term investments. This will help the company make aggressive investments and sustain through the period of cash burn.</p><h2>Coinbase (COIN)<img src=\"https://static.tigerbbs.com/ba0b6324e4d73be0235f6a89d74b7761\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></h2><p><b>Coinbase</b>(NASDAQ:<b><u>COIN</u></b>) stock was off to a flying start in 2021 when sentiments related to cryptocurrencies was positive. The euphoria has transformed into extreme distress and COIN stock has plunged by 80% so far in 2022.</p><p>For investors willing to consider a high-risk bet, the stock is attractive around $50 levels. While the crypto crash is a big negative for growth and margins, Coinbase still seems attractive for the long term.</p><p>There has been a steady growth in Coinbase Wallet adoption. Further, the company has also launched the beta version of Coinbase NFT.</p><p>Another point to note is that the trading volume related to<b>Bitcoin</b>(<b><u>BTC-USD</u></b>) and<b>Ethereum</b>(<b><u>ETH-USD</u></b>) was45% of total trading volume. As more assets are listed for trading on the platform, volumes growth is likely to be robust once the market sentiments reverse.</p><p>Coinbase ended Q1 2022 with $6.1 billion in cash and equivalents. There is ample financial flexibility to pursue product development.</p><h2>Growth Stocks: Roblox (RBLX)<img src=\"https://static.tigerbbs.com/8b66768c63ffb9d9ce67b0cd2f4dd821\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></h2><p>I believe that<b>Roblox</b>(NYSE:<b><u>RBLX</u></b>) is also a victim of negative market sentiments. Of course, growth has decelerated, but the selling might be overdone considering the long-term growth outlook.</p><p>The first point to note is that the metaverse market is expected to grow at acompound annual growth rate of 50.74% between 2022 and 2030. Roblox will be a key beneficiary of the positive industry tailwinds.</p><p>For the first quarter, Roblox reported revenue growth of 39% to $537.1 million. The company’s daily active users also increased by 28% on a year-on-year basis to 54.1 million. I also like the fact that Roblox reported free cash flow of $104.6 million for the quarter.</p><p>Even with revenue growth in the range of 30% to 40%, the company seems to be positioned for cash flow upside. For Q1 2022, the company reported94% growth in active users from Asia Pacific. User growth from rest of the world (excluding U.S. and Europe) was 34%. Emerging markets are likely to drive long-term growth.</p></body></html>","source":"lsy1606302653667","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>7 Deeply Undervalued Growth Stocks to Buy Now</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\">\n7 Deeply Undervalued Growth Stocks to Buy Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-05 07:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/undervalued-growth-stocks/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These high-quality growth stocks have witnessed deep corrections and look oversold. They should be good buys for long-term investors.Xpeng(XPEV): Strong deliveries growth to sustain with expansion in ...</p>\n\n<a href=\"https://investorplace.com/undervalued-growth-stocks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd","CHPT":"ChargePoint Holdings Inc.","RBLX":"Roblox Corporation","PINS":"Pinterest, Inc.","XPEV":"小鹏汽车","COIN":"Coinbase Global, Inc.","CPNG":"Coupang, Inc."},"source_url":"https://investorplace.com/undervalued-growth-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129041123","content_text":"These high-quality growth stocks have witnessed deep corrections and look oversold. They should be good buys for long-term investors.Xpeng(XPEV): Strong deliveries growth to sustain with expansion in Europe and new model launches.Pinterest(PINS): Growth in emerging market average revenue per user will boost cash flows. A proxy e-commerce platform with global presence.ChargePoint(CHPT): Positioned for accelerated growth with leadership position in North America and an aggressive expansion in Europe.Coupang(CPNG): Oversold with steady growth likely to sustain. Positive adjusted EBITDA visibility is a key catalyst.Sea Limited(SE): Exposure to high-growth markets like Southeast Asia and Latin America and strong growth in the digital payments segment.Coinbase(COIN): Strong cash buffer for product development even during the downturn for cryptocurrencies.Roblox(RBLX): Long-term growth visibility considering the expected growth in the metaverse space, coupled with positive free cash flows.Source: ShutterstockIn financial markets, cash flows, growth outlook and valuation does matter. However, investor sentiment plays a key role in driving growth stocks higher or lower. When the economic outlook is positive and the financial system has ample liquidity, growth stocks tend to command a valuation premium.On the other hand, when the economic outlook weakens and contractionary monetary policies are pursued, growth stocks trade at valuation gaps. In simple words, corrections are overdone.It’s no rocket science to understand the fact that the time to invest in stocks is when sentiments are pessimistic. However, the fear and greed psychology are such that investors buy on euphoria and sell on panic. Be it trading or investing, it’s a mind game.With several growth stocks plunging in the last few months, there seems to be another golden buying opportunity. Of course, not all growth stocks will recover. There are stories that culminate with the bear markets. However, others will recover and deliver multi-fold returns in the long-term.These seven growth stocks look attractive for long-term exposure.TickerCompanyCurrent PriceXPEVXPeng Inc.$30.28PINSPinterest, Inc.$18.71CHPTChargePoint Holdings, Inc.$12.69CPNGCoupang, Inc.$15.04SESea Limited$69.06COINCoinbase Global, Inc.$49.04RBLXRoblox Corporation$35.07Growth Stocks: Xpeng (XPEV)In the last month,XPeng(NYSE:XPEV) stock has surged by 26%. The rally from deeply oversold levels is on the back of policy support for electric vehicles in China.However, even after the big upside, XPEV stock is down by 30% on a 12-month basis. With sustained positive developments even from a company specific perspective, the stock is still undervalued.For the first quarter, XPeng reported159% growth in vehicle deliveriesto 34,561. The company’s gross margin also increased by 100 basis points on a year-on-year basis to 12.2%.It’s worth noting that XPeng launched P5 sedan in October 2021. Further, the launch of G9 is due in the last quarter of 2022. New models will continue to boost deliveries growth once temporary industry headwinds are navigated.XPeng also has ambitious international expansion plans. With increasing presence in Europe, the company’s growth will be supported in the next few years. As deliveries growth remains strong, operating leverage will also translate into vehicle margin expansion.Pinterest (PINS)Pinterest(NYSE:PINS) stock is down nearly 4% in the last month and by 50% so far in 2022. However, at a forward price-earnings ratio of 22.8, the stock still seems undervalued.I have two major reasons to like Pinterest.First, the company reported more than 50% of active users from outside the U.S. and Europe. However, the average revenue per user from therest of the world was just eight cents. In comparison, the ARPU from U.S. and Canada is $4.98. Even from Europe, the ARPU is 72 cents. There is immense scope for ARPU upside from emerging markets. This is a catalyst for revenue and cash flow upside.Furthermore, the focus of Pinterest is to make the platform shopping friendly. I see the company as a proxy global e-commerce platform. Recently, Pinterestcompleted the acquisitionof the The Yes, an AI-powered shopping platform. With further inroads as a proxy e-commerce platform, the company is positioned to benefit.ChargePoint Holdings (CHPT)The electric vehicle industry has multi-year tailwinds. Europe is focused on reducing dependence on Russia for energy needs. Adoption of electric vehicles is one way to achieve this objective. In the United States, the Biden administration plans to spend $5 billion towards EV charging stations.With these tailwinds,ChargePoint(NYSE:CHPT) is among the top growth stocks to consider. The company already has leadership position in North America and has expanded to 16 countries in Europe.Currently, a majority of revenue comes from North America. However, as European expansion gains traction, top-line growth is likely to accelerate. ChargePoint also derives revenue fromhardware and software solutions.As the charging network expands, software revenue (recurring revenue) will increase. This will have a positive impact on the company’s EBITDA margin. For now, the cash burn is likely to sustain with aggressive investments. However, that’s unlikely to be a major concern for a growth stage company.Growth Stocks: Coupang (CPNG)The markets have punishedCoupang(NYSE:CPNG) stock on growth and profitability concerns. However, after a decline of 49% in 2022, CPNG stock seems undervalued.On a constant currency basis, Coupang reported revenue growth of 32% for the first quarter from a year ago. The company’s adjusted EBITDA losses also narrowed during the quarter.It seems likely that a growth rate of around 30% is sustainable in the coming years. International expansion is one reason for this view. At the same time, Korea has 37 million online shoppers. Currently, Coupang has 18 million active customers. There is ample scope for growth within Korea.In terms of profitability, Coupang expects to deliver long-term adjusted EBITDA in therange of 7% to 10%. The company has also guided for positive adjusted EBITDA from the product commerce segment by the end of the year. If this target is achieved, CPNG stock is likely to trend higher.Sea Limited (SE)Another e-commerce stock that’s trading at attractive levels isSea Limited(NYSE:SE). A correction of 68% so far this year has been on the back of cash burn and relative deceleration in growth.However, the long-term outlook remains robust with Sea Limited focused on high-growth markets. The company already has strong presence in Southeast Asia. With inroads into Latin America, the company’s growth momentum will remain strong.I am also bullish on the company’s financial services segment. For the first quarter, active users increased by 78% on a year-on-year basis to 49 million. The total payment volume for mobile wallet has also witnessed sustained growth.Cash burn is a concern. However, Sea Limited expects Shopee toachieve positive adjusted EBITDAin Southeast Asia and Taiwan by the end of 2023. As robust top-line growth sustains, operating leverage will drive profitability.In the near term, Sea Limited has $8.8 billion in cash and short-term investments. This will help the company make aggressive investments and sustain through the period of cash burn.Coinbase (COIN)Coinbase(NASDAQ:COIN) stock was off to a flying start in 2021 when sentiments related to cryptocurrencies was positive. The euphoria has transformed into extreme distress and COIN stock has plunged by 80% so far in 2022.For investors willing to consider a high-risk bet, the stock is attractive around $50 levels. While the crypto crash is a big negative for growth and margins, Coinbase still seems attractive for the long term.There has been a steady growth in Coinbase Wallet adoption. Further, the company has also launched the beta version of Coinbase NFT.Another point to note is that the trading volume related toBitcoin(BTC-USD) andEthereum(ETH-USD) was45% of total trading volume. As more assets are listed for trading on the platform, volumes growth is likely to be robust once the market sentiments reverse.Coinbase ended Q1 2022 with $6.1 billion in cash and equivalents. There is ample financial flexibility to pursue product development.Growth Stocks: Roblox (RBLX)I believe thatRoblox(NYSE:RBLX) is also a victim of negative market sentiments. Of course, growth has decelerated, but the selling might be overdone considering the long-term growth outlook.The first point to note is that the metaverse market is expected to grow at acompound annual growth rate of 50.74% between 2022 and 2030. Roblox will be a key beneficiary of the positive industry tailwinds.For the first quarter, Roblox reported revenue growth of 39% to $537.1 million. The company’s daily active users also increased by 28% on a year-on-year basis to 54.1 million. I also like the fact that Roblox reported free cash flow of $104.6 million for the quarter.Even with revenue growth in the range of 30% to 40%, the company seems to be positioned for cash flow upside. For Q1 2022, the company reported94% growth in active users from Asia Pacific. User growth from rest of the world (excluding U.S. and Europe) was 34%. Emerging markets are likely to drive long-term growth.","news_type":1},"isVote":1,"tweetType":1,"viewCount":43,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9042060806,"gmtCreate":1656405045505,"gmtModify":1676535822358,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9042060806","repostId":"1116296412","repostType":4,"repost":{"id":"1116296412","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":1656404206,"share":"https://www.laohu8.com/m/news/1116296412?lang=&edition=full","pubTime":"2022-06-28 16:16","market":"us","language":"en","title":"Occidental Shares Gained 2% in Premarket Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1116296412","media":"Tiger Newspress","summary":"Occidental shares gained 2% in premarket trading as Berkshire holds 16.4% of Occidental petroleum af","content":"<html><head></head><body><p>Occidental shares gained 2% in premarket trading as Berkshire holds 16.4% of Occidental petroleum after recent purchase.<img src=\"https://static.tigerbbs.com/b27b48e69ba20caf03312c53189db0a5\" tg-width=\"843\" tg-height=\"832\" width=\"100%\" height=\"auto\"/>Berkshire Hathaway continued to add to its stake in Occidental Petroleum, buying 794,000 shares this past Thursday, lifting its stake to 16.4% of the big U.S. energy company, according to a filing late Monday.</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>Occidental Shares Gained 2% in Premarket Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOccidental Shares Gained 2% in Premarket Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-06-28 16:16</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Occidental shares gained 2% in premarket trading as Berkshire holds 16.4% of Occidental petroleum after recent purchase.<img src=\"https://static.tigerbbs.com/b27b48e69ba20caf03312c53189db0a5\" tg-width=\"843\" tg-height=\"832\" width=\"100%\" height=\"auto\"/>Berkshire Hathaway continued to add to its stake in Occidental Petroleum, buying 794,000 shares this past Thursday, lifting its stake to 16.4% of the big U.S. energy company, according to a filing late Monday.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OXY":"西方石油"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116296412","content_text":"Occidental shares gained 2% in premarket trading as Berkshire holds 16.4% of Occidental petroleum after recent purchase.Berkshire Hathaway continued to add to its stake in Occidental Petroleum, buying 794,000 shares this past Thursday, lifting its stake to 16.4% of the big U.S. energy company, according to a filing late Monday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":22,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9948574414,"gmtCreate":1680753992038,"gmtModify":1680754078459,"author":{"id":"4119445588031802","authorId":"4119445588031802","name":"TigerMum","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"How to get Disney share without inviting friend","listText":"How to get Disney share without inviting friend","text":"How to get Disney share without inviting friend","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9948574414","isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577965120664925","authorId":"3577965120664925","name":"SR050321","avatar":"https://community-static.tradeup.com/news/7a02781de36c0ac0f4851adb1cee54ff","crmLevel":2,"crmLevelSwitch":0},"content":"Impossible coz fraction share will not be activated. The egg if got it 0.5 share, but useless… Just collect the coins and exchange voucher 😊 but do not last minutes coz the voucher while stock last","text":"Impossible coz fraction share will not be activated. The egg if got it 0.5 share, but useless… Just collect the coins and exchange voucher 😊 but do not last minutes coz the voucher while stock last","html":"Impossible coz fraction share will not be activated. The egg if got it 0.5 share, but useless… Just collect the coins and exchange voucher 😊 but do not last minutes coz the voucher while stock last"}],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}