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2021-08-10

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Moderna Is A Winner In COVID-19 Vaccines, But What's Next?

2021-08-09

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2021-07-06

Yeah.........

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2021-07-06

[得意] [得意] [得意] [得意] [得意] [得意]

2021-07-05

[得意] [得意] [得意] [得意] [得意] [得意]

抱歉，原内容已删除

2021-07-05

[得意] [得意] [得意] [得意] [鬼脸] [鬼脸] [鬼脸]

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2021-07-05

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2021-07-01

[得意] [得意] [得意] [得意] [得意] [鬼脸]

S&P 500 notches fifth straight record closing high, fifth straight quarterly gain

2021-06-29

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

2021-06-28

Yes........

June jobs report, Consumer confidence: What to know this week

2021-06-28

👍👍👍👍👍👍

Trail of Brothers Linked to Missing Bitcoin Stash Is Still Murky

2021-06-26

🤑🤑🤑🤑

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2021-06-26

😅😅😅😅😅😅😅

2021-06-26

🌈🌈🌈

2021-06-26

☺

It's Not Too Late to Take Advantage of NVIDIA's Stock Split. Here's Why

2021-06-16

Gd

Wanda Light Asset Gears Up for $3 Billion Hong Kong IPO

2021-06-14

Ok

Is fuboTV at Risk From This World Cup Controversy?

2021-06-14

Yeahs

Amazon: The Virtuous Cycle At A Fair Price

2021-06-10

Ok

Mattel Launches Barbie Loves the Ocean; Its First Fashion Doll Collection Made from Recycled Ocean-Bound* Plastic

2021-06-10

OK

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At the same time, Novavax surprised the market with its delay in filing for emergency use authorization ((EUA)) with the US government ((USG)).</p>\n<p>Moderna has continued to make excellent momentum as the company took full advantage of a highly successful COVID-19 vaccine program to develop the other vaccines in other therapeutic areas to future-proof its revenue sustainability, as the world gradually moves on to a world where COVID-19 is endemic.</p>\n<p>This article provides a timely update for our readers to decide whether Moderna is still a good investment given the recent run-up that we think has resulted in a high amount of optimism being baked into its price.</p>\n<p>Q2 Earnings Recap</p>\n<p><i>Moderna quarterly revenue surprise. Source: Seeking Alpha Premium</i></p>\n<p><i>Moderna quarterly EPS surprise. Source: Seeking Alpha Premium</i></p>\n<p>Moderna reported a solid Q2 report card, keeping in line with the momentum from Q1, as the company posted revenue of $4.354B and EPS of $6.46, which were 10.3% and 2.8% above the consensus estimates.</p>\n<p><img src=\"https://static.tigerbbs.com/727827b49e82cf15b729bc1d2efd38fa\" tg-width=\"600\" tg-height=\"371\" referrerpolicy=\"no-referrer\"><i>Moderna H1'21 revenue and FY21 consensus estimate. Data source: S&amp;P Capital IQ</i></p>\n<p>Importantly, Moderna posted a highly impressive QoQ increase of 125% in revenue from $1.94B in Q1'21 to $4.35B in Q2'21. However, Moderna would need to significantly ramp up in H2'21 for the company to meet the Street's FY21 estimates as H1'21's revenue of $6.29B accounted for only 31.2% of the FY21 consensus estimates.</p>\n<p>To that, Moderna has assured investors that based on the company's signed advanced purchase agreements ((APA)) for FY21, Moderna indicated that \"expected delivery in 2021reflect the current full-year total of approximately $20 billion in anticipated product sales.\" The company continues to anticipate a supply of at least 800M to 1B doses for 2021.</p>\n<p>Studying Moderna's Gross Margins and Pricing Strategy</p>\n<p><i>Moderna quarterly gross margin. Data source: S&amp;P Capital IQ</i></p>\n<p>The production ramp in Q2'21 has also improved Moderna's economies of scale as its gross margin improved markedly in Q2'21, as Moderna's total cost of revenue represents about 26.9% of Q2'21 revenue.</p>\n<p>Crucially, Moderna has indicated that its COVID-19H1'21's product salesof $5.93B which constitute about 94.3% of H1'21's total revenue, has a much lower cost of revenue. Based on our findings, Moderna's COVID-19 product sales have a cost of revenue of $1.1B, representing about 18.5% of H1'21's COVID-19 product revenue, therefore indicating that the average gross margin for its COVID-19 product is about 81.5%. The company has also emphasized that it \"expects the average cost total of sales as a percent of product sales to be between 18% and 20% compared to our previous outlook of approximately 20% of product sales. This reflects the successful ramp-up of this global manufacturing network.\"</p>\n<p>Since Moderna delivered 199M doses in Q2'21 and 102M doses in Q1'21, the company delivered a collective amount of 301M doses in H1'21 that was recognized as product revenue. Given that our cost of revenue is about $1.1B for H1'21, we could thus derive an average cost per dose of about $3.65, which the company has highlighted that it expects to maintain for the rest of 2021.</p>\n<p>Before we carry on, Moderna has highlighted that the cost of sales that the company reflected in H1'21 of $943M included their \"zero-cost COVID-19 inventory,\" as the company emphasized: \"At the end of the first quarter of 2021, we had substantially utilized our zero-cost COVID-19 vaccine inventory. Therefore, if inventory sold for the six months ended June 30, 2021, were valued at cost, our cost of sales for the period would have been $1.1 billion.\" Therefore, based on our computation above, we believe it's important to reflect the cost of sales more accurately, which the company also corroborates in their earnings call.</p>\n<p><img src=\"https://static.tigerbbs.com/28b81eba2e15387ebf431cce2b895aba\" tg-width=\"600\" tg-height=\"371\" referrerpolicy=\"no-referrer\">Moderna Spikevax pricing tiers. Data source: Moderna</p>\n<p>Moderna adopts a tiered pricing model to distribute its vaccines equitably. For the USG, the company has applied a \"favorable\" pricing model because of the US government's funding as well as the 500M doses order that the USG committed to Moderna, which the company emphasized, \"is very large.\"</p>\n<p>The other higher-income countries paid between $32 and $37, including larger orders from countries that include the EU with an APA of260M dosesfor 2021. Thus, applying Moderna's large contract discount logic, we should expect the average EU pricing to be at the lower end of the $32 to $37 range.</p>\n<p>For the lower to middle-income countries, even though the company did not explicitly disclose the exact price range, the company highlighted that this category \"received the lowest-tiered pricing, including those sales to COVAX, which are considerably lower than the price to the U.S. government.\"</p>\n<p>For Moderna, we could easily derive its average price at about $19.7 ($5.93B/301M) per dose for H1'21, even though the company has emphasized that it's likely to be reduced moving into 2022 as they ramp the production for delivery to COVAX as well as the lower and middle-income countries, especially since the COVAX APA is set to increase from 34M doses in 2021 to 117M doses in 2022, with an option to increase up to 350M doses.</p>\n<p>COVAX reported an average price of about$5.20 per dose; thus, it would be useful for investors to continue monitoring the impact on the average price for mRNA-1273 moving forward. Moderna has also indicated that it is expecting more price competition as we move from a pandemic towards a world where COVID-19 is endemic. In addition, it may also be useful to watch closely for further improvement in its economies of scale as the company ramps production from an estimated 800M to 1B doses in 2021 to 2B to 3B doses in 2022.</p>\n<p>Moderna's Strategy Moving <a href=\"https://laohu8.com/S/FORD\">Forward</a></p>\n<p>Share of the population fully vaccinated against COVID-19. Source: OWID</p>\n<p>It's straightforward that Moderna has ramped production significantly to compete for the next phase in COVID-19 distribution for its mRNA-1273 product for countries within the COVAX category in 2022 and 2023 as the high-income countries are starting to approach the 60% to 70% fully vaccinated mark. However, we could clearly glean from the chart above where only 15% of the total world population has been fully vaccinated, while countries like Indonesia and India have only 8% and 7.8% of their population fully inoculated, and South America's 20.9% still has a long way to go as well.</p>\n<p>Moving forward, the strategy for the high-income countries is starting to move towards booster shots. We think this is where Moderna, as one of the 2 mRNA vaccines makers, has sufficiently proven its worth against <a href=\"https://laohu8.com/S/PFE\">Pfizer</a>-BioNTech as the company's recent COVE study demonstrated that mRNA-1273 could maintain the efficacy of 93.2%, 4 to 6 months after the second dose, and a 98.2% efficacy against severe disease, as well as a 100% efficacy against death caused by COVID-19. As compared to Pfizer-BioNTech's vaccine, where the efficacy is expected to drop to84%after 6 months, we would clearly applaud the breathtaking results that clearly demonstrate the superiority of Moderna's Spikevax against Comirnaty.</p>\n<p>To this Moderna Co-founder and Chairman Dr. Noubar Afeyan clearly articulated who he thinks owns the superior mRNA technology for COVID-19 vaccine in the market (shout-out to Pfizer-BioNTech folks):</p>\n<blockquote>\n We set outto develop the most effective vaccine against this virus that would last for the longest possible time, [helping] the largest number of people to be safe...And this is the first time we had data that at least showed that six months after the initial vaccinations were seeing essentially the same level of protection, which is very encouraging.\n</blockquote>\n<p>Moderna also emphasized that we should never underestimate the efficacy differences as just plain numbers, which in Moderna's and Pfizer-BioNTech's case amounted to 9.2% points. The company emphasized that:</p>\n<blockquote>\n The relative strength of the different vaccines suggested that small differences in efficacy would start to emerge to be larger differences in efficacy at about 200, 250 days as neutralizing antibody titers waned. And that may be what we're starting to see. And if you play that forward, if you assume [Professor Davenport of the University of <a href=\"https://laohu8.com/S/NGD\">New</a> South Wales, Australia] been right about those predictions, then that picture continues and continues through a year with continued declining neutralizing antibody titers over that time. And eventually, we therefore believe, a real increase in breakthrough infections and disease even with vaccinated participants, even with mRNA-1273.\n</blockquote>\n<p>Moderna has also presented clear findings where it expects that a booster shot would significantly increase the neutralizing titers. In contrast, without the booster, for test subjects 6 to 8 months after their second dose, the neutralizing titers have dropped so significantly that for the Beta, Gamma and Delta variants, the \"neutralizing titers had fallen below the detectable -- the level of detection of the assay for a decent number of participants in all 4 -- all 3 cases.\"</p>\n<p>As a result, we expect Moderna has strongly assembled the case for a booster with strong evidence suggesting their importance to protect against the new potential variants that may emerge, which Moderna has certainly warned: \"...It seems logical to us that those 3 mutations present in the Beta, Gamma line and those 2 mutations present in the Delta might find some way to combine in new and potentially scary ways. And if that came with the increased transmissibility, [the] force of infection that Delta can achieve, that might be a significant threat. And so we view our multivalent platform as the best place for us to try and anticipate that threat.\"</p>\n<p>The company is developing a \"proactive\" multivalent platform where it combines \"different variants into a single vaccine\" as its strategy to combat potential variants that are expected to emerge. Based on the company's assays study, this platform clearly outperformed the other candidates in its study. In addition, it stood out as a strong candidate to be used as a booster option, even though the primary mRNA-1273 candidate can also be used effectively as a booster.</p>\n<p>However, in a fast-evolving situation with COVID-19, we think having more efficacious options are only going to be beneficial as vaccine makers try to anticipate and are proactive against potential new and more potent antigens where Moderna even admitted that the Delta variant had humbled them, as it added: \"I think the Delta variant has taught us to also be incredibly humble in the face of the virus' ability to fight back and increase its transmission. I mean, I think most of us would have thought SARS-CoV-2 was a pretty good infector earlier this year. Delta has shown us that it can make huge steps forward.\"</p>\n<p>Risks to our Thesis</p>\n<p>By now, it should be clear that 2022 is promising to be a year where Moderna would almost double or triple its supply to 2B or 3B doses, depending on whether the company is using 100 micrograms or 50 micrograms in its product moving forward. Pfizer-BioNTech is also expected to increase its capacity to 3B doses in 2022, while we also need to take into account Novavax's impending entry into the COVID-19 vaccines production game, as well as the Chinese vaccine makers who already have an annual capacity of 5B doses.</p>\n<p>We think there is a realistic chance where Moderna may be facing an over-supply situation even though it may have proven itself to be the superior mRNA vaccine for now against Pfizer-BioNTech.</p>\n<p><img src=\"https://static.tigerbbs.com/3b54cee9edb8e398275290f3edcdb770\" tg-width=\"640\" tg-height=\"353\" referrerpolicy=\"no-referrer\">Revenue forecast mean consensus. Data source: S&amp;P Capital IQ</p>\n<p>Therefore, we think the Street has prudently lowered its revenue estimates for Moderna over the next few years. The company is also likely to come under pricing pressure against the huge supply expected to come online.</p>\n<p>However, we think Moderna is keenly aware of it. The company clearly highlighted that they had made good progress in the other 5 therapeutic areas that the company is involved in. Of notable mention is the fast track designation the company recently received from the US FDA for the company'sRSV vaccine candidate, mRNA-1345, especially when there is no approved RSV vaccine yet in the market.</p>\n<p>In addition, the company has also commenced on the Phase I/II study of its mRNA-1010 quadrivalent seasonal flu vaccine to target the seasonal flu market, where it's worth about $5B to $6B annually, according to Moderna's estimates, especially when the current flu vaccine efficacy is between 40% and 60% according toCDC data. Moderna expects its quadrivalent vaccine to be launched as early as 2023.</p>\n<p>Moderna is also expecting good results from its CMV vaccine, which is expected to be entering Phase III trials soon. It would also allow the company to tap into a market worth between $2B and $5B annually.</p>\n<p>Hence, we think that the company has been proactively working on the success of its mRNA-1273 to progress confidently along the other programs to sustain its commercial success beyond just being a COVID-19 vaccine maker. Therefore, we encourage investors to monitor its most advanced programs closely and keep pace with them moving forward.</p>\n<p>Valuations</p>\n<p><img src=\"https://static.tigerbbs.com/69cb54a8282012f6cff4095f28e2a08f\" tg-width=\"640\" tg-height=\"176\" referrerpolicy=\"no-referrer\">Biotech peers valuation comp set. Source: TIKR</p>\n<p>EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</p>\n<p>Moderna is currently trading at an EV / Fwd Rev of about 8x, which interestingly comes in below its peers' mean multiple of 14.14x, where Moderna may look to be attractively valued. However, this assumes that Moderna can keep increasing its revenue strongly over the next few years, a point that we have raised previously may face significant headwinds ahead.</p>\n<p>Importantly, we could see that based on the company's expected revenue moving forward, the company is not likely to see meaningful progress on its capital appreciation potential moving forward as its revenue multiple by the end of FY25 is expected to be about 14.6x, which is in line with the peers' mean multiple right now.</p>\n<p><img src=\"https://static.tigerbbs.com/a4cc567a1361ba17617927c47a803418\" tg-width=\"640\" tg-height=\"476\" referrerpolicy=\"no-referrer\">Street's mean price target. Source: TIKR</p>\n<p>Moreover, the Street is also not optimistic on MRNA making meaningful headway from here, and in fact, values the stock at about a 5.2x implied EV / Fwd Rev multiple, at a 35% discount from the last closing price. Analysts from <a href=\"https://laohu8.com/S/OPY\">Oppenheimer</a> also emphasized that \"MRNA sharesare fairly pricing a tremendous amount of future recurring revenues and pipeline progress...[arguing] that the company’s non-COVID pipeline remains 2-3 years away from reaching commercial success.\"</p>\n<p>Our opinion is in line with the Street, and we think that a lot of optimism is currently being priced into Moderna at the moment. So we think if investors are sitting on decent profits right now, we strongly encourage you to at least take partial profits and take some risk off the table.</p>\n<p>Price Action and Trend Analysis<img src=\"https://static.tigerbbs.com/766a37b6357b74ea899bd0e823ff64a2\" tg-width=\"640\" tg-height=\"391\" referrerpolicy=\"no-referrer\">Source: TradingView</p>\n<p>While we are clear about MRNA's long-term uptrend bias (which is why we don't recommend a short-sell strategy against stocks with clear uptrend bias), we also think the stock's price action has recently shown signs of a climax top pattern.</p>\n<p>However, it's impossible to speculate exactly where the top is. Therefore, we think it's prudent for investors to take some profits off the table and wait for the euphoria to chill and cool down before considering adding exposure to MRNA again.</p>\n<p>We have already taken the opportunity of the stock's recent strength to lock in 50% of our profit on MRNA, with a view of locking in even more if we continue to see price action that shows a higher climax top tendency moving forward.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Moderna Is A Winner In COVID-19 Vaccines, But What's Next?</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\">\nModerna Is A Winner In COVID-19 Vaccines, But What's Next?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-10 14:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4447049-moderna-what-is-next-beyond-covid-vaccine-win><strong>seeking alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investment Thesis\nModerna (MRNA) and Novavax (NVAX) released their respective Q2 earnings one after the other, with Moderna indicating encouraging progress in its mRNA vaccine programs along with its ...</p>\n\n<a href=\"https://seekingalpha.com/article/4447049-moderna-what-is-next-beyond-covid-vaccine-win\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc."},"source_url":"https://seekingalpha.com/article/4447049-moderna-what-is-next-beyond-covid-vaccine-win","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109397612","content_text":"Investment Thesis\nModerna (MRNA) and Novavax (NVAX) released their respective Q2 earnings one after the other, with Moderna indicating encouraging progress in its mRNA vaccine programs along with its COVID-19 vaccine production ramp. At the same time, Novavax surprised the market with its delay in filing for emergency use authorization ((EUA)) with the US government ((USG)).\nModerna has continued to make excellent momentum as the company took full advantage of a highly successful COVID-19 vaccine program to develop the other vaccines in other therapeutic areas to future-proof its revenue sustainability, as the world gradually moves on to a world where COVID-19 is endemic.\nThis article provides a timely update for our readers to decide whether Moderna is still a good investment given the recent run-up that we think has resulted in a high amount of optimism being baked into its price.\nQ2 Earnings Recap\nModerna quarterly revenue surprise. Source: Seeking Alpha Premium\nModerna quarterly EPS surprise. Source: Seeking Alpha Premium\nModerna reported a solid Q2 report card, keeping in line with the momentum from Q1, as the company posted revenue of $4.354B and EPS of $6.46, which were 10.3% and 2.8% above the consensus estimates.\nModerna H1'21 revenue and FY21 consensus estimate. Data source: S&P Capital IQ\nImportantly, Moderna posted a highly impressive QoQ increase of 125% in revenue from $1.94B in Q1'21 to $4.35B in Q2'21. However, Moderna would need to significantly ramp up in H2'21 for the company to meet the Street's FY21 estimates as H1'21's revenue of $6.29B accounted for only 31.2% of the FY21 consensus estimates.\nTo that, Moderna has assured investors that based on the company's signed advanced purchase agreements ((APA)) for FY21, Moderna indicated that \"expected delivery in 2021reflect the current full-year total of approximately $20 billion in anticipated product sales.\" The company continues to anticipate a supply of at least 800M to 1B doses for 2021.\nStudying Moderna's Gross Margins and Pricing Strategy\nModerna quarterly gross margin. Data source: S&P Capital IQ\nThe production ramp in Q2'21 has also improved Moderna's economies of scale as its gross margin improved markedly in Q2'21, as Moderna's total cost of revenue represents about 26.9% of Q2'21 revenue.\nCrucially, Moderna has indicated that its COVID-19H1'21's product salesof $5.93B which constitute about 94.3% of H1'21's total revenue, has a much lower cost of revenue. Based on our findings, Moderna's COVID-19 product sales have a cost of revenue of $1.1B, representing about 18.5% of H1'21's COVID-19 product revenue, therefore indicating that the average gross margin for its COVID-19 product is about 81.5%. The company has also emphasized that it \"expects the average cost total of sales as a percent of product sales to be between 18% and 20% compared to our previous outlook of approximately 20% of product sales. This reflects the successful ramp-up of this global manufacturing network.\"\nSince Moderna delivered 199M doses in Q2'21 and 102M doses in Q1'21, the company delivered a collective amount of 301M doses in H1'21 that was recognized as product revenue. Given that our cost of revenue is about $1.1B for H1'21, we could thus derive an average cost per dose of about $3.65, which the company has highlighted that it expects to maintain for the rest of 2021.\nBefore we carry on, Moderna has highlighted that the cost of sales that the company reflected in H1'21 of $943M included their \"zero-cost COVID-19 inventory,\" as the company emphasized: \"At the end of the first quarter of 2021, we had substantially utilized our zero-cost COVID-19 vaccine inventory. Therefore, if inventory sold for the six months ended June 30, 2021, were valued at cost, our cost of sales for the period would have been $1.1 billion.\" Therefore, based on our computation above, we believe it's important to reflect the cost of sales more accurately, which the company also corroborates in their earnings call.\nModerna Spikevax pricing tiers. Data source: Moderna\nModerna adopts a tiered pricing model to distribute its vaccines equitably. For the USG, the company has applied a \"favorable\" pricing model because of the US government's funding as well as the 500M doses order that the USG committed to Moderna, which the company emphasized, \"is very large.\"\nThe other higher-income countries paid between $32 and $37, including larger orders from countries that include the EU with an APA of260M dosesfor 2021. Thus, applying Moderna's large contract discount logic, we should expect the average EU pricing to be at the lower end of the $32 to $37 range.\nFor the lower to middle-income countries, even though the company did not explicitly disclose the exact price range, the company highlighted that this category \"received the lowest-tiered pricing, including those sales to COVAX, which are considerably lower than the price to the U.S. government.\"\nFor Moderna, we could easily derive its average price at about $19.7 ($5.93B/301M) per dose for H1'21, even though the company has emphasized that it's likely to be reduced moving into 2022 as they ramp the production for delivery to COVAX as well as the lower and middle-income countries, especially since the COVAX APA is set to increase from 34M doses in 2021 to 117M doses in 2022, with an option to increase up to 350M doses.\nCOVAX reported an average price of about$5.20 per dose; thus, it would be useful for investors to continue monitoring the impact on the average price for mRNA-1273 moving forward. Moderna has also indicated that it is expecting more price competition as we move from a pandemic towards a world where COVID-19 is endemic. In addition, it may also be useful to watch closely for further improvement in its economies of scale as the company ramps production from an estimated 800M to 1B doses in 2021 to 2B to 3B doses in 2022.\nModerna's Strategy Moving Forward\nShare of the population fully vaccinated against COVID-19. Source: OWID\nIt's straightforward that Moderna has ramped production significantly to compete for the next phase in COVID-19 distribution for its mRNA-1273 product for countries within the COVAX category in 2022 and 2023 as the high-income countries are starting to approach the 60% to 70% fully vaccinated mark. However, we could clearly glean from the chart above where only 15% of the total world population has been fully vaccinated, while countries like Indonesia and India have only 8% and 7.8% of their population fully inoculated, and South America's 20.9% still has a long way to go as well.\nMoving forward, the strategy for the high-income countries is starting to move towards booster shots. We think this is where Moderna, as one of the 2 mRNA vaccines makers, has sufficiently proven its worth against Pfizer-BioNTech as the company's recent COVE study demonstrated that mRNA-1273 could maintain the efficacy of 93.2%, 4 to 6 months after the second dose, and a 98.2% efficacy against severe disease, as well as a 100% efficacy against death caused by COVID-19. As compared to Pfizer-BioNTech's vaccine, where the efficacy is expected to drop to84%after 6 months, we would clearly applaud the breathtaking results that clearly demonstrate the superiority of Moderna's Spikevax against Comirnaty.\nTo this Moderna Co-founder and Chairman Dr. Noubar Afeyan clearly articulated who he thinks owns the superior mRNA technology for COVID-19 vaccine in the market (shout-out to Pfizer-BioNTech folks):\n\n We set outto develop the most effective vaccine against this virus that would last for the longest possible time, [helping] the largest number of people to be safe...And this is the first time we had data that at least showed that six months after the initial vaccinations were seeing essentially the same level of protection, which is very encouraging.\n\nModerna also emphasized that we should never underestimate the efficacy differences as just plain numbers, which in Moderna's and Pfizer-BioNTech's case amounted to 9.2% points. The company emphasized that:\n\n The relative strength of the different vaccines suggested that small differences in efficacy would start to emerge to be larger differences in efficacy at about 200, 250 days as neutralizing antibody titers waned. And that may be what we're starting to see. And if you play that forward, if you assume [Professor Davenport of the University of New South Wales, Australia] been right about those predictions, then that picture continues and continues through a year with continued declining neutralizing antibody titers over that time. And eventually, we therefore believe, a real increase in breakthrough infections and disease even with vaccinated participants, even with mRNA-1273.\n\nModerna has also presented clear findings where it expects that a booster shot would significantly increase the neutralizing titers. In contrast, without the booster, for test subjects 6 to 8 months after their second dose, the neutralizing titers have dropped so significantly that for the Beta, Gamma and Delta variants, the \"neutralizing titers had fallen below the detectable -- the level of detection of the assay for a decent number of participants in all 4 -- all 3 cases.\"\nAs a result, we expect Moderna has strongly assembled the case for a booster with strong evidence suggesting their importance to protect against the new potential variants that may emerge, which Moderna has certainly warned: \"...It seems logical to us that those 3 mutations present in the Beta, Gamma line and those 2 mutations present in the Delta might find some way to combine in new and potentially scary ways. And if that came with the increased transmissibility, [the] force of infection that Delta can achieve, that might be a significant threat. And so we view our multivalent platform as the best place for us to try and anticipate that threat.\"\nThe company is developing a \"proactive\" multivalent platform where it combines \"different variants into a single vaccine\" as its strategy to combat potential variants that are expected to emerge. Based on the company's assays study, this platform clearly outperformed the other candidates in its study. In addition, it stood out as a strong candidate to be used as a booster option, even though the primary mRNA-1273 candidate can also be used effectively as a booster.\nHowever, in a fast-evolving situation with COVID-19, we think having more efficacious options are only going to be beneficial as vaccine makers try to anticipate and are proactive against potential new and more potent antigens where Moderna even admitted that the Delta variant had humbled them, as it added: \"I think the Delta variant has taught us to also be incredibly humble in the face of the virus' ability to fight back and increase its transmission. I mean, I think most of us would have thought SARS-CoV-2 was a pretty good infector earlier this year. Delta has shown us that it can make huge steps forward.\"\nRisks to our Thesis\nBy now, it should be clear that 2022 is promising to be a year where Moderna would almost double or triple its supply to 2B or 3B doses, depending on whether the company is using 100 micrograms or 50 micrograms in its product moving forward. Pfizer-BioNTech is also expected to increase its capacity to 3B doses in 2022, while we also need to take into account Novavax's impending entry into the COVID-19 vaccines production game, as well as the Chinese vaccine makers who already have an annual capacity of 5B doses.\nWe think there is a realistic chance where Moderna may be facing an over-supply situation even though it may have proven itself to be the superior mRNA vaccine for now against Pfizer-BioNTech.\nRevenue forecast mean consensus. Data source: S&P Capital IQ\nTherefore, we think the Street has prudently lowered its revenue estimates for Moderna over the next few years. The company is also likely to come under pricing pressure against the huge supply expected to come online.\nHowever, we think Moderna is keenly aware of it. The company clearly highlighted that they had made good progress in the other 5 therapeutic areas that the company is involved in. Of notable mention is the fast track designation the company recently received from the US FDA for the company'sRSV vaccine candidate, mRNA-1345, especially when there is no approved RSV vaccine yet in the market.\nIn addition, the company has also commenced on the Phase I/II study of its mRNA-1010 quadrivalent seasonal flu vaccine to target the seasonal flu market, where it's worth about $5B to $6B annually, according to Moderna's estimates, especially when the current flu vaccine efficacy is between 40% and 60% according toCDC data. Moderna expects its quadrivalent vaccine to be launched as early as 2023.\nModerna is also expecting good results from its CMV vaccine, which is expected to be entering Phase III trials soon. It would also allow the company to tap into a market worth between $2B and $5B annually.\nHence, we think that the company has been proactively working on the success of its mRNA-1273 to progress confidently along the other programs to sustain its commercial success beyond just being a COVID-19 vaccine maker. Therefore, we encourage investors to monitor its most advanced programs closely and keep pace with them moving forward.\nValuations\nBiotech peers valuation comp set. Source: TIKR\nEV / Fwd Rev trend. Data source: S&P Capital IQ\nModerna is currently trading at an EV / Fwd Rev of about 8x, which interestingly comes in below its peers' mean multiple of 14.14x, where Moderna may look to be attractively valued. However, this assumes that Moderna can keep increasing its revenue strongly over the next few years, a point that we have raised previously may face significant headwinds ahead.\nImportantly, we could see that based on the company's expected revenue moving forward, the company is not likely to see meaningful progress on its capital appreciation potential moving forward as its revenue multiple by the end of FY25 is expected to be about 14.6x, which is in line with the peers' mean multiple right now.\nStreet's mean price target. Source: TIKR\nMoreover, the Street is also not optimistic on MRNA making meaningful headway from here, and in fact, values the stock at about a 5.2x implied EV / Fwd Rev multiple, at a 35% discount from the last closing price. Analysts from Oppenheimer also emphasized that \"MRNA sharesare fairly pricing a tremendous amount of future recurring revenues and pipeline progress...[arguing] that the company’s non-COVID pipeline remains 2-3 years away from reaching commercial success.\"\nOur opinion is in line with the Street, and we think that a lot of optimism is currently being priced into Moderna at the moment. So we think if investors are sitting on decent profits right now, we strongly encourage you to at least take partial profits and take some risk off the table.\nPrice Action and Trend AnalysisSource: TradingView\nWhile we are clear about MRNA's long-term uptrend bias (which is why we don't recommend a short-sell strategy against stocks with clear uptrend bias), we also think the stock's price action has recently shown signs of a climax top pattern.\nHowever, it's impossible to speculate exactly where the top is. Therefore, we think it's prudent for investors to take some profits off the table and wait for the euphoria to chill and cool down before considering adding exposure to MRNA again.\nWe have already taken the opportunity of the stock's recent strength to lock in 50% of our profit on MRNA, with a view of locking in even more if we continue to see price action that shows a higher climax top tendency moving forward.","news_type":1},"isVote":1,"tweetType":1,"viewCount":795,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":898542626,"gmtCreate":1628514220865,"gmtModify":1633746555899,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] 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[得意] [得意] [得意] [得意] [得意]","images":[{"img":"https://static.tigerbbs.com/33e6ebf95ecbd05169befe8dd0a49dfc","width":"1080","height":"2986"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154788047","isVote":1,"tweetType":1,"viewCount":594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":154039874,"gmtCreate":1625458967398,"gmtModify":1633940476216,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;","listText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;","text":"[得意] [得意] [得意] [得意] [得意] [得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154039874","repostId":"1169840279","repostType":4,"isVote":1,"tweetType":1,"viewCount":919,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":154030209,"gmtCreate":1625458915501,"gmtModify":1633940476927,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[鬼脸]&nbsp;[鬼脸]&nbsp;[鬼脸]&nbsp;","listText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[鬼脸]&nbsp;[鬼脸]&nbsp;[鬼脸]&nbsp;","text":"[得意] [得意] [得意] [得意] [鬼脸] [鬼脸] 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[财迷]","images":[{"img":"https://static.tigerbbs.com/948a8e698190db45252b8d02957eab54","width":"1080","height":"3085"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154097783","isVote":1,"tweetType":1,"viewCount":829,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":151702121,"gmtCreate":1625105250863,"gmtModify":1633944744039,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[鬼脸]&nbsp;","listText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[鬼脸]&nbsp;","text":"[得意] [得意] [得意] [得意] [得意] [鬼脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151702121","repostId":"1178516480","repostType":4,"repost":{"id":"1178516480","pubTimestamp":1625094708,"share":"https://www.laohu8.com/m/news/1178516480?lang=&edition=full","pubTime":"2021-07-01 07:11","market":"us","language":"en","title":"S&P 500 notches fifth straight record closing high, fifth straight quarterly gain","url":"https://stock-news.laohu8.com/highlight/detail?id=1178516480","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as inves","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.</p>\n<p>In the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.</p>\n<p>All three indexes posted their fifth consecutive quarterly gains, with the S&amp;P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&amp;P 500 registered its second-best first-half performance since 1998, rising 14.5%.</p>\n<p>“It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&amp;P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”</p>\n<p>For the month, the bellwether S&amp;P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.</p>\n<p>This month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.</p>\n<p>“Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”</p>\n<p>“(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.</p>\n<p>“Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”</p>\n<p>(Graphic: Growths stocks outperform value in June, narrow YTD gap, )</p>\n<p><img src=\"https://static.tigerbbs.com/5b82b4dfdc765d913811f9d8572e60f6\" tg-width=\"964\" tg-height=\"723\" referrerpolicy=\"no-referrer\">“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”</p>\n<p>The private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.</p>\n<p>The Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&amp;P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.</p>\n<p>Among the 11 major sectors in the S&amp;P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.</p>\n<p>Boeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.</p>\n<p>Walmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.</p>\n<p>Micron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.</p>\n<p>Volume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.</p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 notches fifth straight record closing high, fifth straight quarterly gain</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\">\nS&P 500 notches fifth straight record closing high, fifth straight quarterly gain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-01 07:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking ...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R\">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://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178516480","content_text":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.\nIn the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.\nAll three indexes posted their fifth consecutive quarterly gains, with the S&P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&P 500 registered its second-best first-half performance since 1998, rising 14.5%.\n“It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”\nFor the month, the bellwether S&P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.\nThis month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.\n“Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”\n“(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.\n“Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”\n(Graphic: Growths stocks outperform value in June, narrow YTD gap, )\n“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”\nThe private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.\nThe Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.\nAmong the 11 major sectors in the S&P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.\nBoeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.\nWalmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.\nMicron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.\nThe S&P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.\nVolume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":510,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":159967717,"gmtCreate":1624936952539,"gmtModify":1633946757606,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159967717","repostId":"2147837316","repostType":4,"repost":{"id":"2147837316","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624921533,"share":"https://www.laohu8.com/m/news/2147837316?lang=&edition=full","pubTime":"2021-06-29 07:05","market":"us","language":"en","title":"Tech stock rally sends S&P and Nasdaq to record highs","url":"https://stock-news.laohu8.com/highlight/detail?id=2147837316","media":"Reuters","summary":" - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.The S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.In contrast, cycl","content":"<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech stock rally sends S&P and Nasdaq to record highs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech stock rally sends S&P and Nasdaq to record highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-29 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQQQ":"纳指三倍做空ETF","PSQ":"纳指反向ETF","TWTR":"Twitter","NVDA":"英伟达",".IXIC":"NASDAQ Composite","QQQ":"纳指100ETF","QLD":"纳指两倍做多ETF",".DJI":"道琼斯","WBA":"沃尔格林联合博姿","MU":"美光科技","NDAQ":"纳斯达克OMX交易所",".SPX":"S&P 500 Index","QID":"纳指两倍做空ETF","NFLX":"奈飞","TQQQ":"纳指三倍做多ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147837316","content_text":"(Reuters) - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.\nBig tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.\nThe S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.\nIn contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&P 500, down by 0.81% and 3.33%, respectively.\n“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.\nStovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&P 500 companies is expected to top 60%.\nThe Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.\nBoth the S&P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.\n“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.\nFacebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.\nOn the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.\nWith the S&P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.\nOn the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.\nVolume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":127110229,"gmtCreate":1624839215561,"gmtModify":1633948237177,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"Yes........","listText":"Yes........","text":"Yes........","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127110229","repostId":"2146007118","repostType":4,"repost":{"id":"2146007118","pubTimestamp":1624826996,"share":"https://www.laohu8.com/m/news/2146007118?lang=&edition=full","pubTime":"2021-06-28 04:49","market":"us","language":"en","title":"June jobs report, Consumer confidence: What to know this week","url":"https://stock-news.laohu8.com/highlight/detail?id=2146007118","media":"Yahoo Finance","summary":"This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.On Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.However, a confluence of ","content":"<p>This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.</p>\n<p>On Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.</p>\n<p>Non-farm payrolls likely grew by 700,000 in June, according to Bloomberg consensus data. This would accelerate from the 559,000 added back in May and mark the biggest rise since March. And the unemployment rate is expected to move down to 5.6% from 5.8% in May, bringing the jobless rate closer to its pre-pandemic, 50-year low of 3.5%.</p>\n<p>\"Payrolls probably surged again in June, with the pace up from the +559,000 in May,\" TD Securities strategists wrote in a note Friday. \"Some acceleration in the private sector is suggested by the Homebase data, while government payrolls probably benefited from fewer than usual end-of-school-year layoffs.\"</p>\n<p>Even with a sizable monthly payroll gain, the economy would still be well off its pre-pandemic levels of employment. Heading into June, the U.S. economy was still down by more than 7 million payrolls compared to February 2020, with the deficit most pronounced in high-contact services industries like restaurants and hotels.</p>\n<p>But both services and manufacturing companies have cited shortages of qualified workers to fill open positions, which hit a record high of over 9 million as of latest data. These supply-and-demand mismatches in the labor market – with shortages noted by firms from FedEx (FDX) to Yum Brands (YUM) — have also begun to push wages higher and created additional costs for businesses. In Friday's report, average hourly earnings are expected to jump 3.6% year-on-year for June, accelerating from May's 2% increase.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b881fe96eccc72cff61bf35b0dfa72fa\" tg-width=\"5210\" tg-height=\"3404\" referrerpolicy=\"no-referrer\"><span>SAN FRANCISCO, CALIFORNIA - JUNE 03: A pedestrian walks by a Now Hiring sign outside of a Lamps Plus store on June 03, 2021 in San Francisco, California. According to a U.S. Labor Department report, jobless claims fell for a fifth straight week to 385,000. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images</span></p>\n<p>\"Strong demand and weak supply should continue to put upward pressure on wages,\" Bank of America economist Michelle Meyer wrote in a note. \"Workers are quitting at a higher rate as they find better opportunities.\"</p>\n<p>However, a confluence of factors that have kept workers on the sidelines of the labor market may start to lessen in the coming months, some economists noted. Many have agreed that a combination of childcare concerns, fears of contracting COVID-19 and ongoing enhanced federal unemployment benefits have contributed to the still-elevated levels of joblessness, but that each of these should diminish as schools reopen, vaccinations continue and jobless benefits get phased out over the next several months.</p>\n<p>\"Labor supply may soon pick up,\" Meyer said. \"We find evidence of a quicker drop in unemployment insurance (UI) applications in states that discontinued generous federal UI benefits.\"</p>\n<p>\"Four states — Alaska, Iowa, Mississippi and Missouri — opted out in June 12 and UI applications in those states have fallen faster compared to other states, according to the latest initial jobless claims figures,\" she added. \"With another eight states opting out in the week ending June 19 and a total of 25 states by end of the summer, more workers should return to the workforce, helping to ease wage pressures and help meet the strong labor demand in the economy.\"</p>\n<h2>Consumer confidence</h2>\n<h2></h2>\n<p>Another closely watched economic data print this week will be the Conference Board's June consumer confidence index, which is expected to reflect a strong pick-up in sentiment during the recovery and heading into the summer. The report is due for release Tuesday morning.</p>\n<p>The headline index is likely to rise to 119.0 for June from 117.2 in May, according to Bloomberg consensus data. This would mark the highest level since February 2020's 132.6, which itself had been a near two-decade high.</p>\n<p>Like investors, consumers have begun to warm to the notion that inflationary pressures seen during the early stages of the economic recovery may prove transitory. This has helped raise consumers' future expectations for their spending power and boosted sentiment at large, according to other consumer sentiment surveys including the University of Michigan's Surveys of Consumers.</p>\n<p>Not only did year-ahead inflation expectations fall slightly to 4.2% in June from May's decade peak of 4.6%, consumers also believed that the price surges will mostly be temporary,\" Richard Curtin, chief economist for the Surveys of Consumers, said on Friday.</p>\n<p>\"When the pandemic first started, consumers were quite uncertain about their job and income prospects, but reported widespread declines in market prices for homes, vehicles, and household durables,\" he added. \"Those favorable price references have dropped to the most negative in a decade, and job and income prospects have improved, but not quite as favorable as in the last few years of the prior expansion.\"</p>\n<p>Still, in a sign of some downside risk in Tuesday's report from the Conference Board, the University of Michigan's June final sentiment index edged lower to 85.5, coming in below the 86.4 preliminary print, but still above May's reading of 82.9.</p>\n<h2>Economic Calendar</h2>\n<ul>\n <li><p><b>Monday: </b>Dallas Fed Manufacturing Activity Index, June (32.5 expected, 34.9 in May)</p></li>\n <li><p><b>Tuesday: </b>FHFA House Price Index, month-on-month, April (1.7% expected, 1.4% in March); S&amp;P <a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a> Case-Shiller 20-City Composite index, month-over-month, April (1.80% expected, 1.60% in March); S&amp;P CoreLogic Case-Shiller 20-City Composite index, year-over-year, April (13.27% in March); Conference Board Consumer Confidence, June (119.0 expected, 117.2 in May)</p></li>\n <li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended June 25 (2.1% during prior week); ADP Employment Change, June (575,000 expected, 978,000 in May); MNI Chicago PMI, June (70.0 expected, 75.2 in May); Pending home sales, month-over-month, May (-1.0% expected, -4.4% in April);</p></li>\n <li><p><b>Thursday: </b>Challenger Job Cuts, year-over-year, June (-93.8% in May); Initial jobless claims, week ended June 26 (380,000 expected, 411,000 during prior week); Continuing claims, week ended June 19 (3.39 million during prior week); <a href=\"https://laohu8.com/S/MRKT\">Markit</a> US Manufacturing PMI, June final (62.6 in prior print); Construction Spending month-over-month, May (0.5% expected 0.2% in April); ISM Manufacturing, June (61.0 expected, 61.2 in May)</p></li>\n <li><p><b>Friday: </b>Change in non-farm payrolls, June (700,000 expected, 559,000 in May); Unemployment rate, June (5.6% expected, 5.8% in May); Average hourly earnings year-over-year, June (3.6% expected, 2.0% in May); Average hourly earnings, month-over-month, June (0.4% expected, 0.5% in May); Trade balance, May (-$71.0 billion expected, -$68.9 billion in April); Factory orders, May (1.5% expected, -0.6% in April); Durable goods orders, May final (2.3% in prior print); Durable goods orders excluding transportation, May final (2.3% in prior print); Non-defense capital goods orders excluding aircraft, May final (-0.1% in April); Non-defense capital goods shipments excluding aircraft, May final (0.9% in prior print)</p></li>\n</ul>\n<h2>Earnings Calendar</h2>\n<ul>\n <li><p><b>Monday:</b> N/A</p></li>\n <li><p><b>Tuesday: </b>N/A</p></li>\n <li><p><b>Wednesday: </b>Constellation Brands (STZ), Bed Bath &amp; Beyond (BBBY), General Mills (GIS) before market open; Micron Technologies (MU) after market close</p></li>\n <li><p><b>Thursday: </b><a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a> (WBA) before market open</p></li>\n <li><p><b>Friday:</b> N/A</p></li>\n</ul>","source":"yahoofinance_au","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>June jobs report, Consumer confidence: What to know this 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; 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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\">\nJune jobs report, Consumer confidence: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 04:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.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/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146007118","content_text":"This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.\nOn Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.\nNon-farm payrolls likely grew by 700,000 in June, according to Bloomberg consensus data. This would accelerate from the 559,000 added back in May and mark the biggest rise since March. And the unemployment rate is expected to move down to 5.6% from 5.8% in May, bringing the jobless rate closer to its pre-pandemic, 50-year low of 3.5%.\n\"Payrolls probably surged again in June, with the pace up from the +559,000 in May,\" TD Securities strategists wrote in a note Friday. \"Some acceleration in the private sector is suggested by the Homebase data, while government payrolls probably benefited from fewer than usual end-of-school-year layoffs.\"\nEven with a sizable monthly payroll gain, the economy would still be well off its pre-pandemic levels of employment. Heading into June, the U.S. economy was still down by more than 7 million payrolls compared to February 2020, with the deficit most pronounced in high-contact services industries like restaurants and hotels.\nBut both services and manufacturing companies have cited shortages of qualified workers to fill open positions, which hit a record high of over 9 million as of latest data. These supply-and-demand mismatches in the labor market – with shortages noted by firms from FedEx (FDX) to Yum Brands (YUM) — have also begun to push wages higher and created additional costs for businesses. In Friday's report, average hourly earnings are expected to jump 3.6% year-on-year for June, accelerating from May's 2% increase.\nSAN FRANCISCO, CALIFORNIA - JUNE 03: A pedestrian walks by a Now Hiring sign outside of a Lamps Plus store on June 03, 2021 in San Francisco, California. According to a U.S. Labor Department report, jobless claims fell for a fifth straight week to 385,000. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images\n\"Strong demand and weak supply should continue to put upward pressure on wages,\" Bank of America economist Michelle Meyer wrote in a note. \"Workers are quitting at a higher rate as they find better opportunities.\"\nHowever, a confluence of factors that have kept workers on the sidelines of the labor market may start to lessen in the coming months, some economists noted. Many have agreed that a combination of childcare concerns, fears of contracting COVID-19 and ongoing enhanced federal unemployment benefits have contributed to the still-elevated levels of joblessness, but that each of these should diminish as schools reopen, vaccinations continue and jobless benefits get phased out over the next several months.\n\"Labor supply may soon pick up,\" Meyer said. \"We find evidence of a quicker drop in unemployment insurance (UI) applications in states that discontinued generous federal UI benefits.\"\n\"Four states — Alaska, Iowa, Mississippi and Missouri — opted out in June 12 and UI applications in those states have fallen faster compared to other states, according to the latest initial jobless claims figures,\" she added. \"With another eight states opting out in the week ending June 19 and a total of 25 states by end of the summer, more workers should return to the workforce, helping to ease wage pressures and help meet the strong labor demand in the economy.\"\nConsumer confidence\n\nAnother closely watched economic data print this week will be the Conference Board's June consumer confidence index, which is expected to reflect a strong pick-up in sentiment during the recovery and heading into the summer. The report is due for release Tuesday morning.\nThe headline index is likely to rise to 119.0 for June from 117.2 in May, according to Bloomberg consensus data. This would mark the highest level since February 2020's 132.6, which itself had been a near two-decade high.\nLike investors, consumers have begun to warm to the notion that inflationary pressures seen during the early stages of the economic recovery may prove transitory. This has helped raise consumers' future expectations for their spending power and boosted sentiment at large, according to other consumer sentiment surveys including the University of Michigan's Surveys of Consumers.\nNot only did year-ahead inflation expectations fall slightly to 4.2% in June from May's decade peak of 4.6%, consumers also believed that the price surges will mostly be temporary,\" Richard Curtin, chief economist for the Surveys of Consumers, said on Friday.\n\"When the pandemic first started, consumers were quite uncertain about their job and income prospects, but reported widespread declines in market prices for homes, vehicles, and household durables,\" he added. \"Those favorable price references have dropped to the most negative in a decade, and job and income prospects have improved, but not quite as favorable as in the last few years of the prior expansion.\"\nStill, in a sign of some downside risk in Tuesday's report from the Conference Board, the University of Michigan's June final sentiment index edged lower to 85.5, coming in below the 86.4 preliminary print, but still above May's reading of 82.9.\nEconomic Calendar\n\nMonday: Dallas Fed Manufacturing Activity Index, June (32.5 expected, 34.9 in May)\nTuesday: FHFA House Price Index, month-on-month, April (1.7% expected, 1.4% in March); S&P CoreLogic Case-Shiller 20-City Composite index, month-over-month, April (1.80% expected, 1.60% in March); S&P CoreLogic Case-Shiller 20-City Composite index, year-over-year, April (13.27% in March); Conference Board Consumer Confidence, June (119.0 expected, 117.2 in May)\nWednesday: MBA Mortgage Applications, week ended June 25 (2.1% during prior week); ADP Employment Change, June (575,000 expected, 978,000 in May); MNI Chicago PMI, June (70.0 expected, 75.2 in May); Pending home sales, month-over-month, May (-1.0% expected, -4.4% in April);\nThursday: Challenger Job Cuts, year-over-year, June (-93.8% in May); Initial jobless claims, week ended June 26 (380,000 expected, 411,000 during prior week); Continuing claims, week ended June 19 (3.39 million during prior week); Markit US Manufacturing PMI, June final (62.6 in prior print); Construction Spending month-over-month, May (0.5% expected 0.2% in April); ISM Manufacturing, June (61.0 expected, 61.2 in May)\nFriday: Change in non-farm payrolls, June (700,000 expected, 559,000 in May); Unemployment rate, June (5.6% expected, 5.8% in May); Average hourly earnings year-over-year, June (3.6% expected, 2.0% in May); Average hourly earnings, month-over-month, June (0.4% expected, 0.5% in May); Trade balance, May (-$71.0 billion expected, -$68.9 billion in April); Factory orders, May (1.5% expected, -0.6% in April); Durable goods orders, May final (2.3% in prior print); Durable goods orders excluding transportation, May final (2.3% in prior print); Non-defense capital goods orders excluding aircraft, May final (-0.1% in April); Non-defense capital goods shipments excluding aircraft, May final (0.9% in prior print)\n\nEarnings Calendar\n\nMonday: N/A\nTuesday: N/A\nWednesday: Constellation Brands (STZ), Bed Bath & Beyond (BBBY), General Mills (GIS) before market open; Micron Technologies (MU) after market close\nThursday: Walgreens Boots Alliance (WBA) before market open\nFriday: N/A","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127135839,"gmtCreate":1624839126321,"gmtModify":1633948239928,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"👍👍👍👍👍👍","listText":"👍👍👍👍👍👍","text":"👍👍👍👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127135839","repostId":"1136989303","repostType":4,"repost":{"id":"1136989303","pubTimestamp":1624838801,"share":"https://www.laohu8.com/m/news/1136989303?lang=&edition=full","pubTime":"2021-06-28 08:06","market":"us","language":"en","title":"Trail of Brothers Linked to Missing Bitcoin Stash Is Still Murky","url":"https://stock-news.laohu8.com/highlight/detail?id=1136989303","media":"Bloomberg","summary":"(Bloomberg) -- The Cajee brothers, who ran a cryptocurrency investment platform from South Africa th","content":"<p>(Bloomberg) -- The Cajee brothers, who ran a cryptocurrency investment platform from South Africa that the local regulator suspects of being a Ponzi scheme, are confounding both their family and desperate investors alike.</p>\n<p>It’s still hard to establish the whereabouts of Ameer and Raees Cajee, the pair that operated Johannesburg-based Africrypt since 2019. They appear to have vanished, along with an estimated $3.6 billion in Bitcoin -- an amount that a lawyer for the brothers said was inflated.</p>\n<p>Attorney Gerhard Botha, who’s working on the firm’s liquidation case, said some of his clients last made contact with the brothers in May, and he was able to reach them before court proceedings kicked off in Johannesburg. But no “proactive response” was forthcoming from them, Botha said.</p>\n<p>A “To Let” sign could be spotted Saturday, fastened to a glass door of vacant office premises in Johannesburg’s upmarket Rosebank business hub that were listed in Africrypt’s communication with clients.</p>\n<p>Their cousin, Zakira Laher, said she was last able to make contact with the brothers in April and no one knows where they are. Raees Cajee directed all questions to a lawyer, John Oosthuizen, who wasn’t immediately available to comment.</p>\n<p>While Laher, 31, worked for the brothers briefly, she resigned from Africrypt in 2019 -- her role was only to do some administrative work and provide legal advice as the company was getting started. The brothers liked a “nice lifestyle,” filled with luxury cars and traveling -- nothing unusual considering they started making money with crypto ventures at an early age, she said.</p>\n<p>The brothers halted their operations in April, along with a message to investors that Africrypt had been hacked and funds were missing.</p>\n<p>A lawyer assisting some of the clients said the missing Bitcoin totaled as much as $3.6 billion. Another firm, working on bankruptcy proceedings, said they are aware of about 62 clients that have about 140 million rand ($9.9 million) at risk -- and possibly more coming forward.</p>\n<p>Africrypt’s Facebook page, with just two dozen followers, has also been eerily silent for weeks, punctuated by a rare entreaty from someone claiming to have been “totally duped.”</p>\n<p>Oosthuizen, a lawyer for Raees and Ameer Cajee, told the BBC that the brothers maintain the company was the victim of a hack and “categorically denied” they had absconded with funds. Oosthuizen also suggested the $3.6 billion figure for the missing Bitcoin was an overestimate.</p>\n<p>Although the brothers never notified the police about the hack, they intend to cooperate with any future investigation, Oosthuizen told the BBC. They had received death threats and reacted by trying to keep themselves and their families safe, he said.</p>\n<p>It wasn’t clear if the lawyer knew of their whereabouts.</p>\n<p>Raising Money</p>\n<p>Much of Africrypt’s marketing was achieved by word-of-mouth, said attorney Botha. The brothers will have to reply to the proceedings at the Johannesburg High Court by July 19, he said.</p>\n<p>Africrypt’s customer base spanned a variety of clients, from businesses and wealthy individuals to those who loaned money to keep up with their commitments.</p>\n<p>“There were rich people, without a doubt,” Botha said. “And people that invested their parents’ pension funds.”</p>\n<p>An Africrypt investor presentation paints Raees, the younger brother, as a prodigy. He was first introduced to Bitcoin in 2009 and started a business when he was 13 years old, it said. Africrypt invested capital “in a variety of crypto currencies which the parties have verbally discussed and understood,” according to a client contract.</p>\n<p>In a police statement from another investor seen by Bloomberg, Africrypt promised a fivefold return on the investment. The South African authorities are yet to take action against the elusive brothers.</p>\n<p>The Financial Sector Conduct Authority has said its hands are tied because cryptocurrency is not yet a regulated product in the country.</p>","source":"lsy1612507957220","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>Trail of Brothers Linked to Missing Bitcoin Stash Is Still Murky</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\">\nTrail of Brothers Linked to Missing Bitcoin Stash Is Still Murky\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 08:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/trail-brothers-linked-missing-bitcoin-131212571.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- The Cajee brothers, who ran a cryptocurrency investment platform from South Africa that the local regulator suspects of being a Ponzi scheme, are confounding both their family and ...</p>\n\n<a href=\"https://finance.yahoo.com/news/trail-brothers-linked-missing-bitcoin-131212571.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://finance.yahoo.com/news/trail-brothers-linked-missing-bitcoin-131212571.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136989303","content_text":"(Bloomberg) -- The Cajee brothers, who ran a cryptocurrency investment platform from South Africa that the local regulator suspects of being a Ponzi scheme, are confounding both their family and desperate investors alike.\nIt’s still hard to establish the whereabouts of Ameer and Raees Cajee, the pair that operated Johannesburg-based Africrypt since 2019. They appear to have vanished, along with an estimated $3.6 billion in Bitcoin -- an amount that a lawyer for the brothers said was inflated.\nAttorney Gerhard Botha, who’s working on the firm’s liquidation case, said some of his clients last made contact with the brothers in May, and he was able to reach them before court proceedings kicked off in Johannesburg. But no “proactive response” was forthcoming from them, Botha said.\nA “To Let” sign could be spotted Saturday, fastened to a glass door of vacant office premises in Johannesburg’s upmarket Rosebank business hub that were listed in Africrypt’s communication with clients.\nTheir cousin, Zakira Laher, said she was last able to make contact with the brothers in April and no one knows where they are. Raees Cajee directed all questions to a lawyer, John Oosthuizen, who wasn’t immediately available to comment.\nWhile Laher, 31, worked for the brothers briefly, she resigned from Africrypt in 2019 -- her role was only to do some administrative work and provide legal advice as the company was getting started. The brothers liked a “nice lifestyle,” filled with luxury cars and traveling -- nothing unusual considering they started making money with crypto ventures at an early age, she said.\nThe brothers halted their operations in April, along with a message to investors that Africrypt had been hacked and funds were missing.\nA lawyer assisting some of the clients said the missing Bitcoin totaled as much as $3.6 billion. Another firm, working on bankruptcy proceedings, said they are aware of about 62 clients that have about 140 million rand ($9.9 million) at risk -- and possibly more coming forward.\nAfricrypt’s Facebook page, with just two dozen followers, has also been eerily silent for weeks, punctuated by a rare entreaty from someone claiming to have been “totally duped.”\nOosthuizen, a lawyer for Raees and Ameer Cajee, told the BBC that the brothers maintain the company was the victim of a hack and “categorically denied” they had absconded with funds. Oosthuizen also suggested the $3.6 billion figure for the missing Bitcoin was an overestimate.\nAlthough the brothers never notified the police about the hack, they intend to cooperate with any future investigation, Oosthuizen told the BBC. They had received death threats and reacted by trying to keep themselves and their families safe, he said.\nIt wasn’t clear if the lawyer knew of their whereabouts.\nRaising Money\nMuch of Africrypt’s marketing was achieved by word-of-mouth, said attorney Botha. The brothers will have to reply to the proceedings at the Johannesburg High Court by July 19, he said.\nAfricrypt’s customer base spanned a variety of clients, from businesses and wealthy individuals to those who loaned money to keep up with their commitments.\n“There were rich people, without a doubt,” Botha said. “And people that invested their parents’ pension funds.”\nAn Africrypt investor presentation paints Raees, the younger brother, as a prodigy. He was first introduced to Bitcoin in 2009 and started a business when he was 13 years old, it said. Africrypt invested capital “in a variety of crypto currencies which the parties have verbally discussed and understood,” according to a client contract.\nIn a police statement from another investor seen by Bloomberg, Africrypt promised a fivefold return on the investment. The South African authorities are yet to take action against the elusive brothers.\nThe Financial Sector Conduct Authority has said its hands are tied because cryptocurrency is not yet a regulated product in the country.","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124032106,"gmtCreate":1624705006805,"gmtModify":1633949414637,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"🤑🤑🤑🤑","listText":"🤑🤑🤑🤑","text":"🤑🤑🤑🤑","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124032106","repostId":"1108941456","repostType":4,"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125987189,"gmtCreate":1624641522741,"gmtModify":1633950131304,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"😅😅😅😅😅😅😅","listText":"😅😅😅😅😅😅😅","text":"😅😅😅😅😅😅😅","images":[{"img":"https://static.tigerbbs.com/cf2d2d06c681ed071c837b2c6ded149c","width":"1080","height":"2986"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125987189","isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":125984944,"gmtCreate":1624641478088,"gmtModify":1633950131978,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"🌈🌈🌈","listText":"🌈🌈🌈","text":"🌈🌈🌈","images":[{"img":"https://static.tigerbbs.com/9bfd66d7434fdadbc3299e41df064612","width":"1080","height":"2986"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125984944","isVote":1,"tweetType":1,"viewCount":346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":125988755,"gmtCreate":1624641326877,"gmtModify":1633950133419,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"☺","listText":"☺","text":"☺","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125988755","repostId":"2146079086","repostType":4,"repost":{"id":"2146079086","pubTimestamp":1624634220,"share":"https://www.laohu8.com/m/news/2146079086?lang=&edition=full","pubTime":"2021-06-25 23:17","market":"us","language":"en","title":"It's Not Too Late to Take Advantage of NVIDIA's Stock Split. Here's Why","url":"https://stock-news.laohu8.com/highlight/detail?id=2146079086","media":"Motley Fool","summary":"There's an unusual component to this stock split investors need to understand.","content":"<p>Most stock splits are pretty straightforward affairs. A company announces a stock split and advises investors of how many additional shares they will receive, the record date of the transaction, and when the new shares will be distributed.</p>\n<p>In many ways, the upcoming stock split for <b>NVIDIA</b> (NASDAQ:NVDA) is no different. In conjunction with its fiscal 2022 first-quarter earnings report (ended May 2, 2021), the chipmaker announced that its board of directors declared a four-for-<a href=\"https://laohu8.com/S/AONE\">one</a> stock split, payable in the form of a stock dividend. This move was conditional on NVIDIA stockholders voting to approve to increase the number of authorized shares from 2 billion to 4 billion.</p>\n<p>Due to a quirk in this particular case (more on that in a minute), while it <i>appears</i> investors have already missed the opportunity to take advantage of the NVIDIA stock split, that simply isn't the case.</p>\n<p><img src=\"https://static.tigerbbs.com/10b74b78ba82e9df1e981738dfafe1bc\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>The devil's in the details</h3>\n<p>At the company's 2021 annual meeting of stockholders, which was held on June 3, shareholders approved the measure to increase the number of outstanding shares, setting the stage for the stock split to move forward. Each shareholder of record <i>as of June 21</i> will receive three additional shares of NVIDIA stock for each <a href=\"https://laohu8.com/S/AONE.U\">one</a> they own, which will be distributed after the market close on July 19. The stock will start trading on a split-adjusted basis when the market opens on Tuesday, July 20.</p>\n<p>To give some context to the numbers, here's an example of how it will work, though the final numbers will vary based on the then-current stock price. For each share of NVIDIA stock that an investor holds -- currently worth roughly $760 -- post-split, shareholders would own a total of four shares priced at $190 each.</p>\n<h3>The odd quirk</h3>\n<p>What sets NVIDIA's stock split apart from many others is the extraordinary length of time between the record date and the distribution date of the new, split shares. The record date is the date by which investors must own the stock in order to be eligible to receive additional shares created by the stock split, which occurs on the effective date. Typically, there are just a few days between the two.</p>\n<p>For example, in the recent 10-for-one stock split initiated by <b>The Trade Desk</b> (NASDAQ:TTD), shareholders of record as of June 9, 2021 received nine additional shares of stock, which were distributed after the close of trading on June 16, 2021 -- or a period of about a week after the record date. This was very similar to a couple of high-profile stock splits that happened late last year. <b>Apple</b> (NASDAQ:AAPL) and <b>Tesla</b> (NASDAQ:TSLA) each split their shares in August, with record dates of Aug. 24 and Aug. 21, respectively, and both stocks began trading split-adjusted&nbsp;on Aug. 31.</p>\n<p>In the case of NVIDIA, however, the period between the two is a whopping four weeks long. So what happens to investors who buy between the record date and the effective date? Are they left holding the bag?</p>\n<p><img src=\"https://static.tigerbbs.com/97eae1602703c6cf3c0c5c986a02e099\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>The good news</h3>\n<p>What's missing from NVIDIA's press release is the ex-dividend date. Because the stock split is being initiated in the form of a stock dividend, the ex-dividend date governs which investors are eligible to receive the newly split shares. In this case, NVIDIA's stock split goes ex-dividend on July 19, according to a spokesperson for brokerage house <b>Charles Schwab</b>.</p>\n<p>This means that investors can buy NVIDIA shares right up to July 19, and still be eligible to receive the additional shares from the stock split once the shares begin trading on a split-adjusted basis when the market opens July 20.</p>\n<p>It's also important to point out that this stock split doesn't do anything to change the underlying value of NVIDIA as a company -- it merely cleaves it into a greater number of ownership segments. There are plenty of reasons to be bullish and invest in NVIDIA, but investors shouldn't buy the stock based <i>solely</i> on the upcoming stock split.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It's Not Too Late to Take Advantage of NVIDIA's Stock Split. Here's Why</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's Not Too Late to Take Advantage of NVIDIA's Stock Split. Here's Why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 23:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/25/not-too-late-take-advantage-nvidias-stock-split/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Most stock splits are pretty straightforward affairs. A company announces a stock split and advises investors of how many additional shares they will receive, the record date of the transaction, and ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/25/not-too-late-take-advantage-nvidias-stock-split/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09086":"华夏纳指-U","NVDA":"英伟达","03086":"华夏纳指"},"source_url":"https://www.fool.com/investing/2021/06/25/not-too-late-take-advantage-nvidias-stock-split/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146079086","content_text":"Most stock splits are pretty straightforward affairs. A company announces a stock split and advises investors of how many additional shares they will receive, the record date of the transaction, and when the new shares will be distributed.\nIn many ways, the upcoming stock split for NVIDIA (NASDAQ:NVDA) is no different. In conjunction with its fiscal 2022 first-quarter earnings report (ended May 2, 2021), the chipmaker announced that its board of directors declared a four-for-one stock split, payable in the form of a stock dividend. This move was conditional on NVIDIA stockholders voting to approve to increase the number of authorized shares from 2 billion to 4 billion.\nDue to a quirk in this particular case (more on that in a minute), while it appears investors have already missed the opportunity to take advantage of the NVIDIA stock split, that simply isn't the case.\n\nImage source: Getty Images.\nThe devil's in the details\nAt the company's 2021 annual meeting of stockholders, which was held on June 3, shareholders approved the measure to increase the number of outstanding shares, setting the stage for the stock split to move forward. Each shareholder of record as of June 21 will receive three additional shares of NVIDIA stock for each one they own, which will be distributed after the market close on July 19. The stock will start trading on a split-adjusted basis when the market opens on Tuesday, July 20.\nTo give some context to the numbers, here's an example of how it will work, though the final numbers will vary based on the then-current stock price. For each share of NVIDIA stock that an investor holds -- currently worth roughly $760 -- post-split, shareholders would own a total of four shares priced at $190 each.\nThe odd quirk\nWhat sets NVIDIA's stock split apart from many others is the extraordinary length of time between the record date and the distribution date of the new, split shares. The record date is the date by which investors must own the stock in order to be eligible to receive additional shares created by the stock split, which occurs on the effective date. Typically, there are just a few days between the two.\nFor example, in the recent 10-for-one stock split initiated by The Trade Desk (NASDAQ:TTD), shareholders of record as of June 9, 2021 received nine additional shares of stock, which were distributed after the close of trading on June 16, 2021 -- or a period of about a week after the record date. This was very similar to a couple of high-profile stock splits that happened late last year. Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) each split their shares in August, with record dates of Aug. 24 and Aug. 21, respectively, and both stocks began trading split-adjusted on Aug. 31.\nIn the case of NVIDIA, however, the period between the two is a whopping four weeks long. So what happens to investors who buy between the record date and the effective date? Are they left holding the bag?\n\nImage source: Getty Images.\nThe good news\nWhat's missing from NVIDIA's press release is the ex-dividend date. Because the stock split is being initiated in the form of a stock dividend, the ex-dividend date governs which investors are eligible to receive the newly split shares. In this case, NVIDIA's stock split goes ex-dividend on July 19, according to a spokesperson for brokerage house Charles Schwab.\nThis means that investors can buy NVIDIA shares right up to July 19, and still be eligible to receive the additional shares from the stock split once the shares begin trading on a split-adjusted basis when the market opens July 20.\nIt's also important to point out that this stock split doesn't do anything to change the underlying value of NVIDIA as a company -- it merely cleaves it into a greater number of ownership segments. There are plenty of reasons to be bullish and invest in NVIDIA, but investors shouldn't buy the stock based solely on the upcoming stock split.","news_type":1},"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169188716,"gmtCreate":1623821697835,"gmtModify":1634027550501,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/169188716","repostId":"1128132038","repostType":4,"repost":{"id":"1128132038","pubTimestamp":1623820564,"share":"https://www.laohu8.com/m/news/1128132038?lang=&edition=full","pubTime":"2021-06-16 13:16","market":"hk","language":"en","title":"Wanda Light Asset Gears Up for $3 Billion Hong Kong IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1128132038","media":"Bloomberg","summary":"Citic, Goldman Sachs, JPMorgan are helping with the offering\nWanda Light Asset is targeting first-ti","content":"<ul>\n <li>Citic, Goldman Sachs, JPMorgan are helping with the offering</li>\n <li>Wanda Light Asset is targeting first-time share sale this year</li>\n</ul>\n<p>Dalian Wanda Group Co.’s commercial property management unit has started preparations with banks for its Hong Kong initial public offering, which could raise about $3 billion, according to people familiar with the matter.</p>\n<p>Citic Securities Co.,Goldman Sachs Group Inc.&nbsp;and&nbsp;JPMorgan Chase &amp; Co.&nbsp;are working withWanda Light Asset Commercial Management Co.to prepare for the first-time share sale, the people said. The offering could happen as soon as this year, said the people, who asked not to be identified as the information is private.</p>\n<p>A Hong Kong IPO would come after the commercial property management firm&nbsp;withdrew&nbsp;its A-share listing in March, adding it will restructure its “asset light” commercial operation and go public at home and abroad as soon as possible. Wanda Light Asset is looking to raise about 20 billion yuan ($3.1 billion) in a pre-IPO funding round, in which more than 20 investors have expressed interest, Bloomberg News&nbsp;reported&nbsp;last month.</p>\n<p>Wanda Light Asset primarily operates and manages its parent’s Wanda Plaza commercial complexes, including 368 in operation and another 155 under construction. In March, the local government in Zhuhai, a city in Guangdong province, invested 3 billion yuan into the unit, according to a statement at that time. The company is now headquartered in Hengqin New Area of Zhuhai.</p>\n<p>Deliberations are ongoing and more banks could be added, the people said. Representatives for Citic Securities, Goldman Sachs and JPMorgan declined to comment, while a representative for Wanda didn’t immediately respond to requests for comment.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wanda Light Asset Gears Up for $3 Billion Hong Kong IPO</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\">\nWanda Light Asset Gears Up for $3 Billion Hong Kong IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 13:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-16/wanda-light-asset-said-to-gear-up-for-3-billion-hong-kong-ipo><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Citic, Goldman Sachs, JPMorgan are helping with the offering\nWanda Light Asset is targeting first-time share sale this year\n\nDalian Wanda Group Co.’s commercial property management unit has started ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-16/wanda-light-asset-said-to-gear-up-for-3-billion-hong-kong-ipo\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00169":"万达酒店发展"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-16/wanda-light-asset-said-to-gear-up-for-3-billion-hong-kong-ipo","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128132038","content_text":"Citic, Goldman Sachs, JPMorgan are helping with the offering\nWanda Light Asset is targeting first-time share sale this year\n\nDalian Wanda Group Co.’s commercial property management unit has started preparations with banks for its Hong Kong initial public offering, which could raise about $3 billion, according to people familiar with the matter.\nCitic Securities Co.,Goldman Sachs Group Inc. and JPMorgan Chase & Co. are working withWanda Light Asset Commercial Management Co.to prepare for the first-time share sale, the people said. The offering could happen as soon as this year, said the people, who asked not to be identified as the information is private.\nA Hong Kong IPO would come after the commercial property management firm withdrew its A-share listing in March, adding it will restructure its “asset light” commercial operation and go public at home and abroad as soon as possible. Wanda Light Asset is looking to raise about 20 billion yuan ($3.1 billion) in a pre-IPO funding round, in which more than 20 investors have expressed interest, Bloomberg News reported last month.\nWanda Light Asset primarily operates and manages its parent’s Wanda Plaza commercial complexes, including 368 in operation and another 155 under construction. In March, the local government in Zhuhai, a city in Guangdong province, invested 3 billion yuan into the unit, according to a statement at that time. The company is now headquartered in Hengqin New Area of Zhuhai.\nDeliberations are ongoing and more banks could be added, the people said. Representatives for Citic Securities, Goldman Sachs and JPMorgan declined to comment, while a representative for Wanda didn’t immediately respond to requests for comment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185819610,"gmtCreate":1623640523730,"gmtModify":1634030784146,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/185819610","repostId":"1123083008","repostType":4,"repost":{"id":"1123083008","pubTimestamp":1623638943,"share":"https://www.laohu8.com/m/news/1123083008?lang=&edition=full","pubTime":"2021-06-14 10:49","market":"us","language":"en","title":"Is fuboTV at Risk From This World Cup Controversy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1123083008","media":"Motley Fool ","summary":"A change of venue and skittish advertisers make it a volatile situation.","content":"<p><b>fuboTV</b>&nbsp;(NYSE:FUBO)&nbsp;has a lot riding on the&nbsp;Qatar World Cup qualifying games&nbsp;that kicked off on June 3.</p>\n<p>As the exclusive rights holder to livestream the 70 soccer matches of the South American Football Confederation, also known as CONMEBOL, the sports livestreaming platform has an opportunity to get tens of millions of new fans to sign up for its service.</p>\n<p>With fuboTV's plans to launch a new sports betting platform later this year and seamlessly blend the two operations into a cohesive whole, the qualifying matches represent a huge revenue opportunity.</p>\n<p>Yet controversy over where the Copa America portion of the games will be played could upset those plans.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9190055f7e0a3f2296dd635294f7598\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p>\n<p>A country at risk</p>\n<p>Copa America is the oldest and arguably most prestigious football competition of national teams. Started in 1910 as part of celebrations around Argentina's independence, Chile, Uruguay, and Brazil also participated.</p>\n<p>Back then, the tournament was called the Campeonato Sudamericano de Selecciones, but it changed to Copa America in 1975 and in 1993 began inviting teams from outside South America to compete. The U.S. and Mexico were the first teams permitted entry, though no outside club has ever won the tournaments.</p>\n<p>This year Copa America was to be co-hosted by Columbia and Argentina, but CONMEBOL pulled the 10-nation games from Columbia because of civil unrest and Argentina backed out because of a spike in coronavirus cases.</p>\n<p>CONMEBOL chose Brazil as the location of the games, but an outcry arose over the country's choice because of the large number of COVID-19 deaths that have occurred there, some 479,000, which is second only to the U.S.</p>\n<p>With players complaining about the location choice, multinational companies began dropping their sponsorship of the games, potentially undermining the games and putting fuboTV's opportunity in jeopardy.</p>\n<p><b>A case of cold feet</b></p>\n<p><b>AmBev</b>&nbsp;(NYSE:ABEV), the Brazilian unit of&nbsp;<b>Anheuser-Busch InBev</b>&nbsp;(NYSE:BUD)and sponsor of the Brazilian national team, announced \"its brands will not be present at the Copa America,\" as did&nbsp;<b>Mastercard</b>&nbsp;(NYSE:MA), which said it would not \"activate\" its sponsorship of the games, something it has done since 1992.</p>\n<p>That was followed by global spirits distributor&nbsp;<b>Diageo</b>&nbsp;(NYSE:DEO), which said it was withdrawing sponsorship of Copa America \"given the current Brazilian health situation and out of respect for this moment of the COVID-19 pandemic.\"</p>\n<p>Parties have gone to court to try to block Brazil from hosting the games, but the country's Supreme Court rejected the injunction bids and said the games could proceed, though they ordered various health and safety measures be implemented.</p>\n<p>There also don't seem to be any boycotts of the games yet. While the Brazilian national team had called out \"humanitarian\" concerns over locating the games in their home country, it said it would still play.</p>\n<p><b>An exclusive opportunity</b></p>\n<p>This is why the qualifying games are so critical for fuboTV. To contain the possible spread of COVID-19, Brazilian officials are holding the games without fans present in the stadium, and the teams will undergo testing every 48 hours. Players will also have their movements restricted as they travel between the four host cities.</p>\n<p>That means fans will need to find alternative means of watching the games, and with the sporting event's huge global popularity, fuboTV has a unique opportunity to see a massive influx of new subscribers to its&nbsp;streaming service.</p>\n<p>Select English-language games will be available to subscribers who have the fubo Sports Network, but they will only be available on fuboTV and not through the network's usual off-platform distribution partners, such as&nbsp;<b>ViacomCBS</b>' Pluto TV.</p>\n<p>The Copa America games will be free to current fuboTV subscribers, while new subscribers need to sign up for one of fubo's plans and then add the CONMEBOL &amp; More package for an additional $7 per month. That package includes eight other premium sports channels featuring soccer, baseball, football, basketball, and more.</p>\n<p><b>It's still game on</b></p>\n<p>fuboTV looks like it will avoid a collapse of the Copa America games, though other CONMEBOL games are going off without a hitch so far. As long as other major sponsors stay put, the teams don't boycott, and there are no COVID-19 outbreaks among players, it should be a success.</p>\n<p>The situation, though, shows just how fragile the sporting world still is as it emerges from the pandemic and tries returning to a sense of normalcy. fuboTV, though, still has&nbsp;enormous growth prospects&nbsp;before it.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is fuboTV at Risk From This World Cup Controversy?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs fuboTV at Risk From This World Cup Controversy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 10:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/13/is-fubotv-at-risk-from-this-world-cup-controversy/><strong>Motley Fool </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>fuboTV (NYSE:FUBO) has a lot riding on the Qatar World Cup qualifying games that kicked off on June 3.\nAs the exclusive rights holder to livestream the 70 soccer matches of the South American Football...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/13/is-fubotv-at-risk-from-this-world-cup-controversy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FUBO":"fuboTV Inc."},"source_url":"https://www.fool.com/investing/2021/06/13/is-fubotv-at-risk-from-this-world-cup-controversy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123083008","content_text":"fuboTV (NYSE:FUBO) has a lot riding on the Qatar World Cup qualifying games that kicked off on June 3.\nAs the exclusive rights holder to livestream the 70 soccer matches of the South American Football Confederation, also known as CONMEBOL, the sports livestreaming platform has an opportunity to get tens of millions of new fans to sign up for its service.\nWith fuboTV's plans to launch a new sports betting platform later this year and seamlessly blend the two operations into a cohesive whole, the qualifying matches represent a huge revenue opportunity.\nYet controversy over where the Copa America portion of the games will be played could upset those plans.\nIMAGE SOURCE: GETTY IMAGES.\nA country at risk\nCopa America is the oldest and arguably most prestigious football competition of national teams. Started in 1910 as part of celebrations around Argentina's independence, Chile, Uruguay, and Brazil also participated.\nBack then, the tournament was called the Campeonato Sudamericano de Selecciones, but it changed to Copa America in 1975 and in 1993 began inviting teams from outside South America to compete. The U.S. and Mexico were the first teams permitted entry, though no outside club has ever won the tournaments.\nThis year Copa America was to be co-hosted by Columbia and Argentina, but CONMEBOL pulled the 10-nation games from Columbia because of civil unrest and Argentina backed out because of a spike in coronavirus cases.\nCONMEBOL chose Brazil as the location of the games, but an outcry arose over the country's choice because of the large number of COVID-19 deaths that have occurred there, some 479,000, which is second only to the U.S.\nWith players complaining about the location choice, multinational companies began dropping their sponsorship of the games, potentially undermining the games and putting fuboTV's opportunity in jeopardy.\nA case of cold feet\nAmBev (NYSE:ABEV), the Brazilian unit of Anheuser-Busch InBev (NYSE:BUD)and sponsor of the Brazilian national team, announced \"its brands will not be present at the Copa America,\" as did Mastercard (NYSE:MA), which said it would not \"activate\" its sponsorship of the games, something it has done since 1992.\nThat was followed by global spirits distributor Diageo (NYSE:DEO), which said it was withdrawing sponsorship of Copa America \"given the current Brazilian health situation and out of respect for this moment of the COVID-19 pandemic.\"\nParties have gone to court to try to block Brazil from hosting the games, but the country's Supreme Court rejected the injunction bids and said the games could proceed, though they ordered various health and safety measures be implemented.\nThere also don't seem to be any boycotts of the games yet. While the Brazilian national team had called out \"humanitarian\" concerns over locating the games in their home country, it said it would still play.\nAn exclusive opportunity\nThis is why the qualifying games are so critical for fuboTV. To contain the possible spread of COVID-19, Brazilian officials are holding the games without fans present in the stadium, and the teams will undergo testing every 48 hours. Players will also have their movements restricted as they travel between the four host cities.\nThat means fans will need to find alternative means of watching the games, and with the sporting event's huge global popularity, fuboTV has a unique opportunity to see a massive influx of new subscribers to its streaming service.\nSelect English-language games will be available to subscribers who have the fubo Sports Network, but they will only be available on fuboTV and not through the network's usual off-platform distribution partners, such as ViacomCBS' Pluto TV.\nThe Copa America games will be free to current fuboTV subscribers, while new subscribers need to sign up for one of fubo's plans and then add the CONMEBOL & More package for an additional $7 per month. That package includes eight other premium sports channels featuring soccer, baseball, football, basketball, and more.\nIt's still game on\nfuboTV looks like it will avoid a collapse of the Copa America games, though other CONMEBOL games are going off without a hitch so far. As long as other major sponsors stay put, the teams don't boycott, and there are no COVID-19 outbreaks among players, it should be a success.\nThe situation, though, shows just how fragile the sporting world still is as it emerges from the pandemic and tries returning to a sense of normalcy. fuboTV, though, still has enormous growth prospects before it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185810659,"gmtCreate":1623640491671,"gmtModify":1634030784961,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"Yeahs&nbsp;","listText":"Yeahs&nbsp;","text":"Yeahs","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185810659","repostId":"1146011836","repostType":4,"repost":{"id":"1146011836","pubTimestamp":1623639735,"share":"https://www.laohu8.com/m/news/1146011836?lang=&edition=full","pubTime":"2021-06-14 11:02","market":"us","language":"en","title":"Amazon: The Virtuous Cycle At A Fair Price","url":"https://stock-news.laohu8.com/highlight/detail?id=1146011836","media":"seekingalpha","summary":"Summary\n\nAmazon's business is firing on all cylinders, giving its investors many reasons to smile.\nT","content":"<p><b>Summary</b></p>\n<ul>\n <li>Amazon's&nbsp;business is firing on all cylinders, giving its investors many reasons to smile.</li>\n <li>The company is reinforcing its moat in e-commerce, cloud services and grabbing aggressively its share in ads from Google and Facebook duopoly.</li>\n <li>A growing share of high-margin activities improves cash flow at rapid pace.</li>\n <li>At the current level, the share price represents at least 6-8% return p.a.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dfbef43d925558552ced924df58f081f\" tg-width=\"768\" tg-height=\"512\"><span>Photo by coldsnowstorm/iStock Unreleased via Getty Images</span></p>\n<p>Amazon (AMZN) is a very diversified business with many sources of revenue. Its size, strong brand, and leadership position in e-commerce and cloud services give it an immense moat. The advertisement branch makes Google and Facebook's duopoly sweat. The growth in all sectors is simply remarkable for a company of its size. It all does not leave any doubt that Amazon's future is bright.</p>\n<p>Also, the price for this outstanding business is pretty attractive. Simple and conservative estimates show a safe 6-8% return per annum. In the world of a zero interest rate, Amazon shares are a bargain.</p>\n<p><b>The Virtuous Cycle, aka Scale Economies Shared</b></p>\n<p>Almost twenty-five years ago, Jeff Bezos laid a foundation for his company. At its core lies customer-centricity. The idea is pretty simple: exceptional customer experience brings more traffic and sellers with their products. A growing platform scale lowers the prices, which improves customer experience even further. By broadening product offerings, reducing prices, improving delivery time, and selling the highest-quality services, Amazon wins customer loyalty and expands its customer base.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/33d2da72dce938108f652612d9f4b320\" tg-width=\"640\" tg-height=\"341\"><span>Source:Amazon - The Virtuous Cycle</span></p>\n<p>Putting customer experience at the center of every action combined with innovation spirit and readiness for failure has created a company that is redefining the way we shop, work, and spend our free time. Chapeau bas for management for sticking to those rules till these days, successful execution and constantly raising the bar to create more value for society.</p>\n<p><b>What do you get buying Amazon?</b></p>\n<p>All invested in Amazon know exactly why they own the shares. Leadership in life-changing trends, enormous growth, innovation, dominance, and of course huge profits. All checked. Let's put some numbers behind those buzzwords to prove it.</p>\n<p><b>E-commerce</b></p>\n<p>We start with e-commerce. This year the company is expected toincrease its US retail e-commerce market share to 40.4%. Walmart, second on the list, is going to enjoy only 7.1%. A clear sign of dominance. The sales growth is going to continue. After a Covid turbocharged 44.1% rise last year, analysts predict 15.3% in 2021. That means slowing down tothe average e-commerce growth in the US over the last decade.</p>\n<p>The international footprint is also growing nicely. In 2020, 27% of revenue came from abroad. And they are still expanding to new markets (in March 2021 they entered Poland startingamazon.pl).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad6f72d60e6af0ab7802b63bb60e04c5\" tg-width=\"640\" tg-height=\"107\"><span>Source: Amazon Annual Report 2020</span></p>\n<p>There are two trends in retail sales that are going to benefit Amazon in the coming years. First, overall consumption and spending are growing together with the economy. But most importantly, a share of e-commerce retail vs. total retail sales is going to increase.In 2020, it was already 21.3% for the USA, up from 6.4% in 2010. Still less than e.g. in China, where the National Bureau of Statistics of China estimated online retail penetration to be at 24.9% in 2020.</p>\n<p>As Jeff Bezos predicted, the virtuous cycle is self-reinforcing and attracting more and more customers and merchants to the platform every year. Last Amazon's report shows that the number of sold products increases pretty fast, so do SMBs' profits. Amazon is fueling its success by intensive investments in logistics, analysis tools, and services, which lead to growing Amazon success and so on.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b70ae811d800c6e2fcaeb619b5a50964\" tg-width=\"640\" tg-height=\"608\"><span>Source:Amazon SMB Impact Report 2020</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dfe8106bb3f81d21e177ef59cefc5888\" tg-width=\"640\" tg-height=\"709\"><span>Source: Amazon SMB Impact Report 2020</span></p>\n<p><b>AWS</b></p>\n<p>Whether it’s technology giants, television networks, banks, food manufacturers, or governments, many organizations are using AWS to develop, deploy and host applications. The biggest customers are well-known brands such asNetflix, Adobe, Apple, LinkedIn, Twitter, BBC, and many more.</p>\n<p>It is another area that has sped upbecause of the COVID-19 pandemic. Implementation of stay-at-home policies for consumers, work-from-home policies for employees generated enormous demand and caused much higher than initially expected cloud usage.</p>\n<p>Amazon invests heavily in the data centers and expands its geographical footprint. The company offers a broad and rapidly growing portfolio of cloud services. All these efforts to satisfy customers' needs have given Amazon aworldwide leadership position.</p>\n<p>Strong double-digit demand for cloud services is going to continue in the next few years. Forecasts say that in 2021 the whole segment value will reach$330bn, up 23% from 2020. AWS as a dominant force with almosta third of market sharein IaaS and PaaS will surely enjoy growing revenues and profits.</p>\n<p><b>Advertising</b></p>\n<p>Google or Facebook make money by advertising different products and services. Their algorithms are very efficient in targeting selected audience groups. They are great at defining what may be of interest for me, for you, and every single web user. But they do not have the same insights as Amazon has. Amazon knows exactly what people buy, how they buy it, and how much of it they buy. The knowledge of what movies Amazon Prime customers are watching, what music and books they consume, gives Amazon an even more complete picture of the consumer journey.</p>\n<p>Here, the trend is once again Amazon's friend. Totalad spending continues to riseyear after year at a double-digit rate. Digital ads are already a dominant form of marketing and as people have more electronic devices connected to the Internet, they continue to be the most important channel to reach customers.</p>\n<p>Amazon has been very successful in this field. The company is alreadythe third power in advertising in the USAwith 10% of the market share. They are expanding especially at Google's cost as more people search for specific products directly on Amazon's website circumventing Google's search engine. Analysts predict that both Google and Facebook are going to lose their market share in the coming years,whereas Amazon continues to grab a bigger part of the growing pie.</p>\n<p>Looking at advertising revenue (classified as \"Other\" in the annual report), we can assume that it grew at a whopping rate of 50% last year. As cloud services, it is a very profitable, high-margin activity that will nicely continue to increase Amazon's bottom line in the future.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8a8ab12e5788fda9765fbd60bf394f23\" tg-width=\"640\" tg-height=\"261\"><span>Source: Amazon Annual Report 2020</span></p>\n<p><b>Amazon Prime</b></p>\n<p>Other powerful revenue engines are subscription services i.e. Amazon Prime membership fees, video-on-demand, etc. What Amazon offers its customers is pretty unique - by subscribing they get a combination of cheaper and faster orders' delivery and access to a rich library of movies, series, and songs. And it is very affordable! Thanks to that the retention rate is very high and the user base is constantly growing, exceeding already 200 million people. And almost130 million are using the Video Prime service at least once a month. That gives Amazon Prime Video servicesecond position worldwide just behind Netflix.</p>\n<p>Again, also from this trend, Amazon is trying to make use of. The expectations are that OTT and VoD services will growbetween 14%and18% for the next 4-5 years.The acquisition of MGMand gaining such IPs like James Bond, The Silence of the Lambs, Fargo, and a few thousand others, shows that the company takes it pretty seriously and will fight for its share of the pie.</p>\n<p>Looking once more into the annual report, we may see that subscription services brought ~$25bn in FY 2020. It seems not much compared to $386bn of total revenue, but $25bn was also the total revenue of Netflix last year! And it is growing faster than Netflix revenue.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9535c8b9791a767f3e8b52754d5db4c1\" tg-width=\"640\" tg-height=\"264\"><span>Source: Amazon Annual Report 2020</span></p>\n<p><b>Others</b></p>\n<p>If it was not enough, Amazon constantly tries to revolutionize some aspects of our lives and create new expansion opportunities. It isa leader in the smart speaker market(50% of the US market). Kindle dominates the e-reader market in the USA. FireTV streams videos to millions of homes. Etc., etc.</p>\n<p>Many experimental initiatives can easily become another mega-trend and contribute even more to customer satisfaction and the company's success, e.g.:</p>\n<ul>\n <li><p>Amazon Go - cashier-free stores</p></li>\n <li><p>AI-powered home robots</p></li>\n <li><p>game streaming services</p></li>\n <li><p>investing in self-driving technology</p></li>\n <li><p>building a fleet of delivery drones, etc.</p></li>\n</ul>\n<p><b>How did the business perform?</b></p>\n<p>Amazon does not provide as detailed information about its user base asAlibaba(BABA). Investors have only vague data announced from time to time during Earnings Calls or from Letters to Shareholders. For example,in the last letter, Jeff Bezos writes that Amazon Prime has already over 200 million members.Over 75% are Americans. However, the number of active users is much higher. Already inQ2 2016, there were over 300 million active customers globally.</p>\n<p>Let's move to the financial information to see the revenue generation power of Amazon's customers. The revenue is growing consistently at a high rate. The pre-pandemic slowdown was quickly corrected last year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00ea9010cdf36960ced3316748d5b396\" tg-width=\"640\" tg-height=\"395\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>The significance of the AWS, the golden goose of Amazon, and its contribution to the revenue was also growing from 7% in 2015 to almost 12% in 2020. Disappointing is the fact that the international sales represent currently only 27% of total revenue (a drop from 33% in 2015). It reduces the diversification of revenue streams and shows that the competition abroad is strong.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8e5447ded18a889ea1ff7cdf37b342a\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>On a plus side, we can see below that all segments are growing, but international revenue is simply growing slower than sales in North America or AWS. Another small positive is the fact that international sales saw last year almost 40% jump, slightly better than the other two segments.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5550abe99358bb2a60e8552476cb096\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>Similar to revenue, the operating income made a huge jump last year as COVID hit.</p>\n<p><img src=\"https://static.tigerbbs.com/7cf5a471f3cc5f3e15ad0436cc7f9a7b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p>\n<p>The biggest contribution to the operating income is AWS. In 2020, cloud services generated over $13bn, which represented ~60% of total profits.</p>\n<p>Source: Chart created by the author with data from annual reports</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/366bd2ee01f2a7f0fa78c25001150c99\" tg-width=\"640\" tg-height=\"397\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>North America brought around $9bn or 37% of the total operating income last year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d49e53238ae749ae5f39ca6d421dca51\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>Profits from AWS and North America used to subsidize international retail sales which only last year turned profitable. We may attribute this positive result to two factors - improving the efficiency of operation and favorable currency exchange rate last year.</p>\n<p>Let's have a look at Amazon's margins below. They are nicely trending higher almost every year. There are at least a few good reasons for that e.g. the scale of Amazon's operation, growing AWS, cash flow from Amazon Prime, and other subscription services. Margin expansion underlines the quality of the business and the good investment decisions of the management.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e935c9bf800475aa0017d40f8fb1920\" tg-width=\"640\" tg-height=\"296\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>In annual reports, Amazon presents also an alternative way of categorizing revenue streams. The chart \"Net sales by groups of similar products and services\" summarizes this method for the last few years. In 2020, slightly over 50% was attributed to online stores. We can see that AWS, advertising, subscriptions, and 3rd party seller services are growing faster than online stores. It shows the strength and diversity of Amazon's platform. It is nicely reflected in growing margins and recurring revenue streams.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9394fd8d8fb6183d2e32bdb24c02b6f\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>The growth for all segments is very strong. I would like to underscore here one component - advertising (\"Other\" in the chart below). It is still pretty small with \"only\" ~$21bn in revenue but is growing at a staggering pace, adding another very lucrative business area to Amazon's portfolio.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5cf6ce184acc5b763aeb00f34b69b54\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>Last but not least, the amount of free cash flow (\"FCF\") generated may show the quality of the business. It is one of the most important metrics for shareholders. FCF is used to pay dividends, repurchase shares, or for acquisitions. Amazon provides investors with three different metrics of FCF trying to adjust standard definition (FCF = Cash from Operations - Capex) to include heavy usage of finance leases used for faster expansion of AWS infrastructure and other equipment.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/66290fc24e1df8192026a2305de99933\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>The most important is the fact that all three metrics are rising. The Internet explains all of them for those interested in the nitty-gritty details of accounting.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa13303f053af872d639e94fcfae68ca\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p><b>Valuation</b></p>\n<p>Note: I suggest subtracting 1,3% from CAGRs calculated below. 1,3% is an average shareholder dilution over the last 5 years. As long as there is no meaningful repurchase program, the dilution will continue.</p>\n<p><b>Simulation of P/EPS</b></p>\n<p>Analyst estimate is that Amazon's EPS will grow at 38% on average for the next five years. Assuming massive ratio reduction (from the current P/E=61 to P/E=18-26), we arrive at a potential return between 47% and 113% in 2026 (or 8% to 16% CAGR).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1a6f6320356bfd13c8cd1423f5c4997c\" tg-width=\"640\" tg-height=\"424\"><span>Source: Own calculation</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f7d373e66cfae1c02a39f11f735644db\" tg-width=\"640\" tg-height=\"396\"><span>Source: Own calculation</span></p>\n<p><b>DCF</b></p>\n<p>For DCF analysis I use Free Cash Flow less equipment finance leases and principal repayments of all other finance leases and financing obligations. With Amazon, this metric better presents the ability of the business to generate cash than standard FCF.</p>\n<p>I simulated much lower growth than presented in the last five years (and lower than analysts suggest). The reason is to be conservative and show likely outcomes of investing in Amazon at the current share price.</p>\n<p><b>DCF Worst-Case Scenario</b></p>\n<p>FCF growth drops gradually from 20% in 2021 to 11% in 2030. The first implication of this assumption is that the FCF in 2030 will be 4,5x higher than it is today. That would also imply that the current share price of ~$3200 will probably return around 6% annually.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/776195c42bbdbd69b1bfe5f22651ca12\" tg-width=\"640\" tg-height=\"245\"><span>Source: Own calculation</span></p>\n<p><b>DCF Best-Case Scenario</b></p>\n<p>FCF growth drops gradually from 26% in 2021 to 17% in 2030. The FCF in 2030 would be almost 8x higher. That would also mean that the current share price of ~$3200 will probably deliver a return of 8% per annum.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/93471937eb050c18cabebb3ea4d3270c\" tg-width=\"640\" tg-height=\"245\"><span>Source: Own calculation</span></p>\n<p><b>Price to Sales</b></p>\n<p>In the last few years, it was a good deal to buy AMZN when the PS ratio was at 3,3 or lower (with average PS=3,6).</p>\n<p>PS TTM is currently at 3.9. That suggests a slight overvaluation between 10-15%. PS=3,3 would represent the price of $2750 per share. Buying at an average PS=3,6 would mean waiting for the price to fall to $3000.</p>\n<p>There is also a second option: the price will move sideways for the next 1-2 quarters and let the business catch up. Looking at forecasted sales growth, it will happen sooner rather than later.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/02b247d1eaf407d6569dd5465ebf0a3b\" tg-width=\"640\" tg-height=\"581\"><span>Source:Seeking Alpha</span></p>\n<p><b>Conclusion</b></p>\n<p>2020 was for Amazon a great year. For Amazon shareholders too. Coronavirus caused a rapid acceleration in shifting the way we work, spend our free time, and buy things. It led to an explosion in revenues and profits. As a result, the share price doubled in a matter of a few months. But this is not over. Every single part of Amazon keeps growing at a high double-digit rate. And it will not stop soon.</p>\n<p>A lot of this growth is already in the share price. However, even quite conservative analysis shows that buying AMZN today may still generate at least 6-8% return p.a. in a long run. If the company continues improving efficiency, keeps innovating, and expands its portfolio of great products, the return may be even higher.</p>\n<p>To sum it up, I rate Amazon shares to be fairly valued and expect better-than-average performance.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon: The Virtuous Cycle At A Fair Price</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: The Virtuous Cycle At A Fair Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 11:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4434620-amazon-the-virtuous-cycle-at-a-fair-price><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAmazon's business is firing on all cylinders, giving its investors many reasons to smile.\nThe company is reinforcing its moat in e-commerce, cloud services and grabbing aggressively its share...</p>\n\n<a href=\"https://seekingalpha.com/article/4434620-amazon-the-virtuous-cycle-at-a-fair-price\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/article/4434620-amazon-the-virtuous-cycle-at-a-fair-price","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146011836","content_text":"Summary\n\nAmazon's business is firing on all cylinders, giving its investors many reasons to smile.\nThe company is reinforcing its moat in e-commerce, cloud services and grabbing aggressively its share in ads from Google and Facebook duopoly.\nA growing share of high-margin activities improves cash flow at rapid pace.\nAt the current level, the share price represents at least 6-8% return p.a.\n\nPhoto by coldsnowstorm/iStock Unreleased via Getty Images\nAmazon (AMZN) is a very diversified business with many sources of revenue. Its size, strong brand, and leadership position in e-commerce and cloud services give it an immense moat. The advertisement branch makes Google and Facebook's duopoly sweat. The growth in all sectors is simply remarkable for a company of its size. It all does not leave any doubt that Amazon's future is bright.\nAlso, the price for this outstanding business is pretty attractive. Simple and conservative estimates show a safe 6-8% return per annum. In the world of a zero interest rate, Amazon shares are a bargain.\nThe Virtuous Cycle, aka Scale Economies Shared\nAlmost twenty-five years ago, Jeff Bezos laid a foundation for his company. At its core lies customer-centricity. The idea is pretty simple: exceptional customer experience brings more traffic and sellers with their products. A growing platform scale lowers the prices, which improves customer experience even further. By broadening product offerings, reducing prices, improving delivery time, and selling the highest-quality services, Amazon wins customer loyalty and expands its customer base.\nSource:Amazon - The Virtuous Cycle\nPutting customer experience at the center of every action combined with innovation spirit and readiness for failure has created a company that is redefining the way we shop, work, and spend our free time. Chapeau bas for management for sticking to those rules till these days, successful execution and constantly raising the bar to create more value for society.\nWhat do you get buying Amazon?\nAll invested in Amazon know exactly why they own the shares. Leadership in life-changing trends, enormous growth, innovation, dominance, and of course huge profits. All checked. Let's put some numbers behind those buzzwords to prove it.\nE-commerce\nWe start with e-commerce. This year the company is expected toincrease its US retail e-commerce market share to 40.4%. Walmart, second on the list, is going to enjoy only 7.1%. A clear sign of dominance. The sales growth is going to continue. After a Covid turbocharged 44.1% rise last year, analysts predict 15.3% in 2021. That means slowing down tothe average e-commerce growth in the US over the last decade.\nThe international footprint is also growing nicely. In 2020, 27% of revenue came from abroad. And they are still expanding to new markets (in March 2021 they entered Poland startingamazon.pl).\nSource: Amazon Annual Report 2020\nThere are two trends in retail sales that are going to benefit Amazon in the coming years. First, overall consumption and spending are growing together with the economy. But most importantly, a share of e-commerce retail vs. total retail sales is going to increase.In 2020, it was already 21.3% for the USA, up from 6.4% in 2010. Still less than e.g. in China, where the National Bureau of Statistics of China estimated online retail penetration to be at 24.9% in 2020.\nAs Jeff Bezos predicted, the virtuous cycle is self-reinforcing and attracting more and more customers and merchants to the platform every year. Last Amazon's report shows that the number of sold products increases pretty fast, so do SMBs' profits. Amazon is fueling its success by intensive investments in logistics, analysis tools, and services, which lead to growing Amazon success and so on.\nSource:Amazon SMB Impact Report 2020\nSource: Amazon SMB Impact Report 2020\nAWS\nWhether it’s technology giants, television networks, banks, food manufacturers, or governments, many organizations are using AWS to develop, deploy and host applications. The biggest customers are well-known brands such asNetflix, Adobe, Apple, LinkedIn, Twitter, BBC, and many more.\nIt is another area that has sped upbecause of the COVID-19 pandemic. Implementation of stay-at-home policies for consumers, work-from-home policies for employees generated enormous demand and caused much higher than initially expected cloud usage.\nAmazon invests heavily in the data centers and expands its geographical footprint. The company offers a broad and rapidly growing portfolio of cloud services. All these efforts to satisfy customers' needs have given Amazon aworldwide leadership position.\nStrong double-digit demand for cloud services is going to continue in the next few years. Forecasts say that in 2021 the whole segment value will reach$330bn, up 23% from 2020. AWS as a dominant force with almosta third of market sharein IaaS and PaaS will surely enjoy growing revenues and profits.\nAdvertising\nGoogle or Facebook make money by advertising different products and services. Their algorithms are very efficient in targeting selected audience groups. They are great at defining what may be of interest for me, for you, and every single web user. But they do not have the same insights as Amazon has. Amazon knows exactly what people buy, how they buy it, and how much of it they buy. The knowledge of what movies Amazon Prime customers are watching, what music and books they consume, gives Amazon an even more complete picture of the consumer journey.\nHere, the trend is once again Amazon's friend. Totalad spending continues to riseyear after year at a double-digit rate. Digital ads are already a dominant form of marketing and as people have more electronic devices connected to the Internet, they continue to be the most important channel to reach customers.\nAmazon has been very successful in this field. The company is alreadythe third power in advertising in the USAwith 10% of the market share. They are expanding especially at Google's cost as more people search for specific products directly on Amazon's website circumventing Google's search engine. Analysts predict that both Google and Facebook are going to lose their market share in the coming years,whereas Amazon continues to grab a bigger part of the growing pie.\nLooking at advertising revenue (classified as \"Other\" in the annual report), we can assume that it grew at a whopping rate of 50% last year. As cloud services, it is a very profitable, high-margin activity that will nicely continue to increase Amazon's bottom line in the future.\nSource: Amazon Annual Report 2020\nAmazon Prime\nOther powerful revenue engines are subscription services i.e. Amazon Prime membership fees, video-on-demand, etc. What Amazon offers its customers is pretty unique - by subscribing they get a combination of cheaper and faster orders' delivery and access to a rich library of movies, series, and songs. And it is very affordable! Thanks to that the retention rate is very high and the user base is constantly growing, exceeding already 200 million people. And almost130 million are using the Video Prime service at least once a month. That gives Amazon Prime Video servicesecond position worldwide just behind Netflix.\nAgain, also from this trend, Amazon is trying to make use of. The expectations are that OTT and VoD services will growbetween 14%and18% for the next 4-5 years.The acquisition of MGMand gaining such IPs like James Bond, The Silence of the Lambs, Fargo, and a few thousand others, shows that the company takes it pretty seriously and will fight for its share of the pie.\nLooking once more into the annual report, we may see that subscription services brought ~$25bn in FY 2020. It seems not much compared to $386bn of total revenue, but $25bn was also the total revenue of Netflix last year! And it is growing faster than Netflix revenue.\nSource: Amazon Annual Report 2020\nOthers\nIf it was not enough, Amazon constantly tries to revolutionize some aspects of our lives and create new expansion opportunities. It isa leader in the smart speaker market(50% of the US market). Kindle dominates the e-reader market in the USA. FireTV streams videos to millions of homes. Etc., etc.\nMany experimental initiatives can easily become another mega-trend and contribute even more to customer satisfaction and the company's success, e.g.:\n\nAmazon Go - cashier-free stores\nAI-powered home robots\ngame streaming services\ninvesting in self-driving technology\nbuilding a fleet of delivery drones, etc.\n\nHow did the business perform?\nAmazon does not provide as detailed information about its user base asAlibaba(BABA). Investors have only vague data announced from time to time during Earnings Calls or from Letters to Shareholders. For example,in the last letter, Jeff Bezos writes that Amazon Prime has already over 200 million members.Over 75% are Americans. However, the number of active users is much higher. Already inQ2 2016, there were over 300 million active customers globally.\nLet's move to the financial information to see the revenue generation power of Amazon's customers. The revenue is growing consistently at a high rate. The pre-pandemic slowdown was quickly corrected last year.\nSource: Chart created by the author with data from annual reports\nThe significance of the AWS, the golden goose of Amazon, and its contribution to the revenue was also growing from 7% in 2015 to almost 12% in 2020. Disappointing is the fact that the international sales represent currently only 27% of total revenue (a drop from 33% in 2015). It reduces the diversification of revenue streams and shows that the competition abroad is strong.\nSource: Chart created by the author with data from annual reports\nOn a plus side, we can see below that all segments are growing, but international revenue is simply growing slower than sales in North America or AWS. Another small positive is the fact that international sales saw last year almost 40% jump, slightly better than the other two segments.\nSource: Chart created by the author with data from annual reports\nSimilar to revenue, the operating income made a huge jump last year as COVID hit.\n\nThe biggest contribution to the operating income is AWS. In 2020, cloud services generated over $13bn, which represented ~60% of total profits.\nSource: Chart created by the author with data from annual reports\nSource: Chart created by the author with data from annual reports\nNorth America brought around $9bn or 37% of the total operating income last year.\nSource: Chart created by the author with data from annual reports\nProfits from AWS and North America used to subsidize international retail sales which only last year turned profitable. We may attribute this positive result to two factors - improving the efficiency of operation and favorable currency exchange rate last year.\nLet's have a look at Amazon's margins below. They are nicely trending higher almost every year. There are at least a few good reasons for that e.g. the scale of Amazon's operation, growing AWS, cash flow from Amazon Prime, and other subscription services. Margin expansion underlines the quality of the business and the good investment decisions of the management.\nSource: Chart created by the author with data from annual reports\nIn annual reports, Amazon presents also an alternative way of categorizing revenue streams. The chart \"Net sales by groups of similar products and services\" summarizes this method for the last few years. In 2020, slightly over 50% was attributed to online stores. We can see that AWS, advertising, subscriptions, and 3rd party seller services are growing faster than online stores. It shows the strength and diversity of Amazon's platform. It is nicely reflected in growing margins and recurring revenue streams.\nSource: Chart created by the author with data from annual reports\nThe growth for all segments is very strong. I would like to underscore here one component - advertising (\"Other\" in the chart below). It is still pretty small with \"only\" ~$21bn in revenue but is growing at a staggering pace, adding another very lucrative business area to Amazon's portfolio.\nSource: Chart created by the author with data from annual reports\nLast but not least, the amount of free cash flow (\"FCF\") generated may show the quality of the business. It is one of the most important metrics for shareholders. FCF is used to pay dividends, repurchase shares, or for acquisitions. Amazon provides investors with three different metrics of FCF trying to adjust standard definition (FCF = Cash from Operations - Capex) to include heavy usage of finance leases used for faster expansion of AWS infrastructure and other equipment.\nSource: Chart created by the author with data from annual reports\nThe most important is the fact that all three metrics are rising. The Internet explains all of them for those interested in the nitty-gritty details of accounting.\nSource: Chart created by the author with data from annual reports\nValuation\nNote: I suggest subtracting 1,3% from CAGRs calculated below. 1,3% is an average shareholder dilution over the last 5 years. As long as there is no meaningful repurchase program, the dilution will continue.\nSimulation of P/EPS\nAnalyst estimate is that Amazon's EPS will grow at 38% on average for the next five years. Assuming massive ratio reduction (from the current P/E=61 to P/E=18-26), we arrive at a potential return between 47% and 113% in 2026 (or 8% to 16% CAGR).\nSource: Own calculation\nSource: Own calculation\nDCF\nFor DCF analysis I use Free Cash Flow less equipment finance leases and principal repayments of all other finance leases and financing obligations. With Amazon, this metric better presents the ability of the business to generate cash than standard FCF.\nI simulated much lower growth than presented in the last five years (and lower than analysts suggest). The reason is to be conservative and show likely outcomes of investing in Amazon at the current share price.\nDCF Worst-Case Scenario\nFCF growth drops gradually from 20% in 2021 to 11% in 2030. The first implication of this assumption is that the FCF in 2030 will be 4,5x higher than it is today. That would also imply that the current share price of ~$3200 will probably return around 6% annually.\nSource: Own calculation\nDCF Best-Case Scenario\nFCF growth drops gradually from 26% in 2021 to 17% in 2030. The FCF in 2030 would be almost 8x higher. That would also mean that the current share price of ~$3200 will probably deliver a return of 8% per annum.\nSource: Own calculation\nPrice to Sales\nIn the last few years, it was a good deal to buy AMZN when the PS ratio was at 3,3 or lower (with average PS=3,6).\nPS TTM is currently at 3.9. That suggests a slight overvaluation between 10-15%. PS=3,3 would represent the price of $2750 per share. Buying at an average PS=3,6 would mean waiting for the price to fall to $3000.\nThere is also a second option: the price will move sideways for the next 1-2 quarters and let the business catch up. Looking at forecasted sales growth, it will happen sooner rather than later.\nSource:Seeking Alpha\nConclusion\n2020 was for Amazon a great year. For Amazon shareholders too. Coronavirus caused a rapid acceleration in shifting the way we work, spend our free time, and buy things. It led to an explosion in revenues and profits. As a result, the share price doubled in a matter of a few months. But this is not over. Every single part of Amazon keeps growing at a high double-digit rate. And it will not stop soon.\nA lot of this growth is already in the share price. However, even quite conservative analysis shows that buying AMZN today may still generate at least 6-8% return p.a. in a long run. If the company continues improving efficiency, keeps innovating, and expands its portfolio of great products, the return may be even higher.\nTo sum it up, I rate Amazon shares to be fairly valued and expect better-than-average performance.","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183307336,"gmtCreate":1623305054225,"gmtModify":1634034750712,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183307336","repostId":"2142241696","repostType":4,"repost":{"id":"2142241696","pubTimestamp":1623303600,"share":"https://www.laohu8.com/m/news/2142241696?lang=&edition=full","pubTime":"2021-06-10 13:40","market":"us","language":"en","title":"Mattel Launches Barbie Loves the Ocean; Its First Fashion Doll Collection Made from Recycled Ocean-Bound* Plastic","url":"https://stock-news.laohu8.com/highlight/detail?id=2142241696","media":"Business Wire","summary":"Mattel, Inc. (NASDAQ: MAT) introduces Barbie Loves the Ocean, its first fashion doll line made from ","content":"<p>Mattel, Inc. (NASDAQ: MAT) introduces Barbie Loves the Ocean, its first fashion doll line made from recycled ocean-bound plastic*. The launch is in line with Mattel’s goal to achieve 100% recycled, recyclable or bio-based plastic materials across all its products and packaging by 2030.</p>\n<p>This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210609005964/en/</p>\n<p><img src=\"https://static.tigerbbs.com/58533a9f078eee562db87d565f3ea92f\" tg-width=\"480\" tg-height=\"270\" referrerpolicy=\"no-referrer\"></p>\n<p>Mattel Launches Barbie Loves the Ocean; Its First Fashion Doll Collection Made from Recycled Ocean-Bound* Plastic (Graphic: Business Wire)</p>\n<p>\"This Barbie launch is another addition to Mattel’s growing portfolio of purpose-driven brands that inspire environmental consciousness with our consumer as a key focus,\" said Richard Dickson, President and Chief Operating Officer, Mattel. \"At Mattel, we empower the next generation to explore the wonder of childhood and reach their full potential. We take this responsibility seriously and are continuing to do our part to ensure kids can inherit a world that’s full of potential, too.\"</p>\n<p>Mattel has always known that a small doll can make a big impact. Looking to the future, Barbie® remains dedicated to advancing its role and lending its global platform to create a better world for kids everywhere by focusing on diversity and inclusion, equal opportunity and now, sustainability in the following ways:</p>\n<p><b>Barbie Loves the Ocean Collection</b>: The collection includes three dolls whose bodies are made from 90% recycled ocean-bound plastic parts* and an accompanying Beach Shack playset and accessories, made from over 90% recycled plastic. Mattel’s high manufacturing standards ensure that this line delivers the same quality of play that parents have come to expect from Barbie.</p>\n<p><b>Forest Stewardship Council (FSC) Goal: </b>Barbie aims to achieve<b> </b>95% recycled or FSC-certified paper and wood fiber materials used in packaging by the end of 2021.</p>\n<p><b>New Barbie Vlogger Episode: </b>‘Barbie Shares How We Can All Protect the Planet,’ a new vlog on Barbie’s immensely popular YouTube vlogger series teaches young fans about the importance of taking care of our planet and everyday habit changes they can make to create an impact. Barbie Vlogger is an online series that provides a platform for Barbie to talk directly to her fans, while balancing \"teachable\" moments that highlight Barbie as a role model, along with fun YouTube trends, like DIY challenges.</p>\n<p>‘<b>The Future of Pink is Green’</b> <b>new brand campaign: </b>Launching in partnership with BBH LA, the new campaign will leverage the brand’s iconic association of pink—alongside the iconic association of green with protecting the planet—to communicate our next step toward a greener future, and to educate kids on the importance of sustainability in an easily digestible way for fans of all ages.</p>\n<p><b>Limited-edition 4ocean x Barbie bracelet</b>:<b> </b>Barbie is teaming up with 4ocean, a purpose-driven business on a mission to end the ocean plastic crisis, to launch a limited-edition 4ocean x Barbie bracelet in signature pink made with post-consumer recycled materials and hand-assembled by artisans in Bali. For every bracelet sold, 4ocean will pull <a href=\"https://laohu8.com/S/AONE\">one</a> pound of trash from oceans, rivers and coastlines and contribute educational materials to inspire and empower the next generation.</p>\n<p>\"Our 62-year legacy is steeped in evolution, as we consistently drive forward initiatives designed to better reflect the world kids see around them. Barbie Loves the Ocean is a prime example of sustainable innovations we’ll make as part of creating a future environment where kids can thrive,\" said Lisa McKnight, Senior Vice President and Global Head of Barbie &amp; Dolls, Mattel. \"We are passionate about leveraging the scope and reach of our global platform to inspire kids to be a part of the change they want to see in the world.\"</p>\n<p>The Barbie program is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of many launches supporting Mattel’s corporate goal to use 100% recycled, recyclable or bio-based plastic materials in all products and packaging by 2030. Other efforts include the recently launched Mattel PlayBack, a toy takeback program designed to recover and reuse materials from old Mattel toys for future Mattel products and Drive Toward a Better Future, Mattel’s product roadmap to make all Matchbox die-cast cars, playsets and packaging with 100% recycled, recyclable or bio-based plastic materials by 2030. Last year, Mattel also introduced several toys that ladder up to this commitment including the Fisher-Price® Rock-a-Stack® and Fisher-Price® Baby’s First Blocks, made from bio-based plastics, three MEGA Bloks® sets made from bio-based plastics, and UNO® Nothin’ But Paper, the first fully recyclable UNO® deck without cellophane packing materials.</p>\n<p>For more information on the Barbie brand’s efforts to protect the planet, visit: Barbie.com/EnvironmentalImpact. For more information on Mattel’s corporate sustainability efforts, visit https://corporate.mattel.com/en-us/citizenship/sustainability.</p>\n<p><b><i>*Plastic parts made from 90% plastic sourced within 50km of waterways in areas lacking formal waste collection systems. Doll head, shoes, tablet and beach lantern accessory excluded.</i></b></p>","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>Mattel Launches Barbie Loves the Ocean; Its First Fashion Doll Collection Made from Recycled Ocean-Bound* Plastic</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\">\nMattel Launches Barbie Loves the Ocean; Its First Fashion Doll Collection Made from Recycled Ocean-Bound* Plastic\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-10 13:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mattel-launches-barbie-loves-ocean-050000495.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Mattel, Inc. (NASDAQ: MAT) introduces Barbie Loves the Ocean, its first fashion doll line made from recycled ocean-bound plastic*. The launch is in line with Mattel’s goal to achieve 100% recycled, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/mattel-launches-barbie-loves-ocean-050000495.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"THFF":"First Financial Corporation Indi","FFBC":"第一金融银行股份","FBNC":"第一万能金控","MAT":"美国美泰公司","FNLC":"第一万通金控"},"source_url":"https://finance.yahoo.com/news/mattel-launches-barbie-loves-ocean-050000495.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2142241696","content_text":"Mattel, Inc. (NASDAQ: MAT) introduces Barbie Loves the Ocean, its first fashion doll line made from recycled ocean-bound plastic*. The launch is in line with Mattel’s goal to achieve 100% recycled, recyclable or bio-based plastic materials across all its products and packaging by 2030.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210609005964/en/\n\nMattel Launches Barbie Loves the Ocean; Its First Fashion Doll Collection Made from Recycled Ocean-Bound* Plastic (Graphic: Business Wire)\n\"This Barbie launch is another addition to Mattel’s growing portfolio of purpose-driven brands that inspire environmental consciousness with our consumer as a key focus,\" said Richard Dickson, President and Chief Operating Officer, Mattel. \"At Mattel, we empower the next generation to explore the wonder of childhood and reach their full potential. We take this responsibility seriously and are continuing to do our part to ensure kids can inherit a world that’s full of potential, too.\"\nMattel has always known that a small doll can make a big impact. Looking to the future, Barbie® remains dedicated to advancing its role and lending its global platform to create a better world for kids everywhere by focusing on diversity and inclusion, equal opportunity and now, sustainability in the following ways:\nBarbie Loves the Ocean Collection: The collection includes three dolls whose bodies are made from 90% recycled ocean-bound plastic parts* and an accompanying Beach Shack playset and accessories, made from over 90% recycled plastic. Mattel’s high manufacturing standards ensure that this line delivers the same quality of play that parents have come to expect from Barbie.\nForest Stewardship Council (FSC) Goal: Barbie aims to achieve 95% recycled or FSC-certified paper and wood fiber materials used in packaging by the end of 2021.\nNew Barbie Vlogger Episode: ‘Barbie Shares How We Can All Protect the Planet,’ a new vlog on Barbie’s immensely popular YouTube vlogger series teaches young fans about the importance of taking care of our planet and everyday habit changes they can make to create an impact. Barbie Vlogger is an online series that provides a platform for Barbie to talk directly to her fans, while balancing \"teachable\" moments that highlight Barbie as a role model, along with fun YouTube trends, like DIY challenges.\n‘The Future of Pink is Green’ new brand campaign: Launching in partnership with BBH LA, the new campaign will leverage the brand’s iconic association of pink—alongside the iconic association of green with protecting the planet—to communicate our next step toward a greener future, and to educate kids on the importance of sustainability in an easily digestible way for fans of all ages.\nLimited-edition 4ocean x Barbie bracelet: Barbie is teaming up with 4ocean, a purpose-driven business on a mission to end the ocean plastic crisis, to launch a limited-edition 4ocean x Barbie bracelet in signature pink made with post-consumer recycled materials and hand-assembled by artisans in Bali. For every bracelet sold, 4ocean will pull one pound of trash from oceans, rivers and coastlines and contribute educational materials to inspire and empower the next generation.\n\"Our 62-year legacy is steeped in evolution, as we consistently drive forward initiatives designed to better reflect the world kids see around them. Barbie Loves the Ocean is a prime example of sustainable innovations we’ll make as part of creating a future environment where kids can thrive,\" said Lisa McKnight, Senior Vice President and Global Head of Barbie & Dolls, Mattel. \"We are passionate about leveraging the scope and reach of our global platform to inspire kids to be a part of the change they want to see in the world.\"\nThe Barbie program is one of many launches supporting Mattel’s corporate goal to use 100% recycled, recyclable or bio-based plastic materials in all products and packaging by 2030. Other efforts include the recently launched Mattel PlayBack, a toy takeback program designed to recover and reuse materials from old Mattel toys for future Mattel products and Drive Toward a Better Future, Mattel’s product roadmap to make all Matchbox die-cast cars, playsets and packaging with 100% recycled, recyclable or bio-based plastic materials by 2030. Last year, Mattel also introduced several toys that ladder up to this commitment including the Fisher-Price® Rock-a-Stack® and Fisher-Price® Baby’s First Blocks, made from bio-based plastics, three MEGA Bloks® sets made from bio-based plastics, and UNO® Nothin’ But Paper, the first fully recyclable UNO® deck without cellophane packing materials.\nFor more information on the Barbie brand’s efforts to protect the planet, visit: Barbie.com/EnvironmentalImpact. For more information on Mattel’s corporate sustainability efforts, visit https://corporate.mattel.com/en-us/citizenship/sustainability.\n*Plastic parts made from 90% plastic sourced within 50km of waterways in areas lacking formal waste collection systems. Doll head, shoes, tablet and beach lantern accessory excluded.","news_type":1},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183307078,"gmtCreate":1623305013594,"gmtModify":1634034750834,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564622621302285","idStr":"3564622621302285"},"themes":[],"htmlText":"OK&nbsp;","listText":"OK&nbsp;","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183307078","repostId":"2142241696","repostType":4,"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":159967717,"gmtCreate":1624936952539,"gmtModify":1633946757606,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159967717","repostId":"2147837316","repostType":4,"repost":{"id":"2147837316","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624921533,"share":"https://www.laohu8.com/m/news/2147837316?lang=&edition=full","pubTime":"2021-06-29 07:05","market":"us","language":"en","title":"Tech stock rally sends S&P and Nasdaq to record highs","url":"https://stock-news.laohu8.com/highlight/detail?id=2147837316","media":"Reuters","summary":" - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.The S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.In contrast, cycl","content":"<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech stock rally sends S&P and Nasdaq to record highs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech stock rally sends S&P and Nasdaq to record highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-29 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQQQ":"纳指三倍做空ETF","PSQ":"纳指反向ETF","TWTR":"Twitter","NVDA":"英伟达",".IXIC":"NASDAQ Composite","QQQ":"纳指100ETF","QLD":"纳指两倍做多ETF",".DJI":"道琼斯","WBA":"沃尔格林联合博姿","MU":"美光科技","NDAQ":"纳斯达克OMX交易所",".SPX":"S&P 500 Index","QID":"纳指两倍做空ETF","NFLX":"奈飞","TQQQ":"纳指三倍做多ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147837316","content_text":"(Reuters) - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.\nBig tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.\nThe S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.\nIn contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&P 500, down by 0.81% and 3.33%, respectively.\n“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.\nStovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&P 500 companies is expected to top 60%.\nThe Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.\nBoth the S&P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.\n“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.\nFacebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.\nOn the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.\nWith the S&P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.\nOn the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.\nVolume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":185819610,"gmtCreate":1623640523730,"gmtModify":1634030784146,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/185819610","repostId":"1123083008","repostType":4,"repost":{"id":"1123083008","pubTimestamp":1623638943,"share":"https://www.laohu8.com/m/news/1123083008?lang=&edition=full","pubTime":"2021-06-14 10:49","market":"us","language":"en","title":"Is fuboTV at Risk From This World Cup Controversy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1123083008","media":"Motley Fool ","summary":"A change of venue and skittish advertisers make it a volatile situation.","content":"<p><b>fuboTV</b>&nbsp;(NYSE:FUBO)&nbsp;has a lot riding on the&nbsp;Qatar World Cup qualifying games&nbsp;that kicked off on June 3.</p>\n<p>As the exclusive rights holder to livestream the 70 soccer matches of the South American Football Confederation, also known as CONMEBOL, the sports livestreaming platform has an opportunity to get tens of millions of new fans to sign up for its service.</p>\n<p>With fuboTV's plans to launch a new sports betting platform later this year and seamlessly blend the two operations into a cohesive whole, the qualifying matches represent a huge revenue opportunity.</p>\n<p>Yet controversy over where the Copa America portion of the games will be played could upset those plans.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9190055f7e0a3f2296dd635294f7598\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p>\n<p>A country at risk</p>\n<p>Copa America is the oldest and arguably most prestigious football competition of national teams. Started in 1910 as part of celebrations around Argentina's independence, Chile, Uruguay, and Brazil also participated.</p>\n<p>Back then, the tournament was called the Campeonato Sudamericano de Selecciones, but it changed to Copa America in 1975 and in 1993 began inviting teams from outside South America to compete. The U.S. and Mexico were the first teams permitted entry, though no outside club has ever won the tournaments.</p>\n<p>This year Copa America was to be co-hosted by Columbia and Argentina, but CONMEBOL pulled the 10-nation games from Columbia because of civil unrest and Argentina backed out because of a spike in coronavirus cases.</p>\n<p>CONMEBOL chose Brazil as the location of the games, but an outcry arose over the country's choice because of the large number of COVID-19 deaths that have occurred there, some 479,000, which is second only to the U.S.</p>\n<p>With players complaining about the location choice, multinational companies began dropping their sponsorship of the games, potentially undermining the games and putting fuboTV's opportunity in jeopardy.</p>\n<p><b>A case of cold feet</b></p>\n<p><b>AmBev</b>&nbsp;(NYSE:ABEV), the Brazilian unit of&nbsp;<b>Anheuser-Busch InBev</b>&nbsp;(NYSE:BUD)and sponsor of the Brazilian national team, announced \"its brands will not be present at the Copa America,\" as did&nbsp;<b>Mastercard</b>&nbsp;(NYSE:MA), which said it would not \"activate\" its sponsorship of the games, something it has done since 1992.</p>\n<p>That was followed by global spirits distributor&nbsp;<b>Diageo</b>&nbsp;(NYSE:DEO), which said it was withdrawing sponsorship of Copa America \"given the current Brazilian health situation and out of respect for this moment of the COVID-19 pandemic.\"</p>\n<p>Parties have gone to court to try to block Brazil from hosting the games, but the country's Supreme Court rejected the injunction bids and said the games could proceed, though they ordered various health and safety measures be implemented.</p>\n<p>There also don't seem to be any boycotts of the games yet. While the Brazilian national team had called out \"humanitarian\" concerns over locating the games in their home country, it said it would still play.</p>\n<p><b>An exclusive opportunity</b></p>\n<p>This is why the qualifying games are so critical for fuboTV. To contain the possible spread of COVID-19, Brazilian officials are holding the games without fans present in the stadium, and the teams will undergo testing every 48 hours. Players will also have their movements restricted as they travel between the four host cities.</p>\n<p>That means fans will need to find alternative means of watching the games, and with the sporting event's huge global popularity, fuboTV has a unique opportunity to see a massive influx of new subscribers to its&nbsp;streaming service.</p>\n<p>Select English-language games will be available to subscribers who have the fubo Sports Network, but they will only be available on fuboTV and not through the network's usual off-platform distribution partners, such as&nbsp;<b>ViacomCBS</b>' Pluto TV.</p>\n<p>The Copa America games will be free to current fuboTV subscribers, while new subscribers need to sign up for one of fubo's plans and then add the CONMEBOL &amp; More package for an additional $7 per month. That package includes eight other premium sports channels featuring soccer, baseball, football, basketball, and more.</p>\n<p><b>It's still game on</b></p>\n<p>fuboTV looks like it will avoid a collapse of the Copa America games, though other CONMEBOL games are going off without a hitch so far. As long as other major sponsors stay put, the teams don't boycott, and there are no COVID-19 outbreaks among players, it should be a success.</p>\n<p>The situation, though, shows just how fragile the sporting world still is as it emerges from the pandemic and tries returning to a sense of normalcy. fuboTV, though, still has&nbsp;enormous growth prospects&nbsp;before it.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is fuboTV at Risk From This World Cup Controversy?</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\">\nIs fuboTV at Risk From This World Cup Controversy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 10:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/13/is-fubotv-at-risk-from-this-world-cup-controversy/><strong>Motley Fool </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>fuboTV (NYSE:FUBO) has a lot riding on the Qatar World Cup qualifying games that kicked off on June 3.\nAs the exclusive rights holder to livestream the 70 soccer matches of the South American Football...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/13/is-fubotv-at-risk-from-this-world-cup-controversy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FUBO":"fuboTV Inc."},"source_url":"https://www.fool.com/investing/2021/06/13/is-fubotv-at-risk-from-this-world-cup-controversy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123083008","content_text":"fuboTV (NYSE:FUBO) has a lot riding on the Qatar World Cup qualifying games that kicked off on June 3.\nAs the exclusive rights holder to livestream the 70 soccer matches of the South American Football Confederation, also known as CONMEBOL, the sports livestreaming platform has an opportunity to get tens of millions of new fans to sign up for its service.\nWith fuboTV's plans to launch a new sports betting platform later this year and seamlessly blend the two operations into a cohesive whole, the qualifying matches represent a huge revenue opportunity.\nYet controversy over where the Copa America portion of the games will be played could upset those plans.\nIMAGE SOURCE: GETTY IMAGES.\nA country at risk\nCopa America is the oldest and arguably most prestigious football competition of national teams. Started in 1910 as part of celebrations around Argentina's independence, Chile, Uruguay, and Brazil also participated.\nBack then, the tournament was called the Campeonato Sudamericano de Selecciones, but it changed to Copa America in 1975 and in 1993 began inviting teams from outside South America to compete. The U.S. and Mexico were the first teams permitted entry, though no outside club has ever won the tournaments.\nThis year Copa America was to be co-hosted by Columbia and Argentina, but CONMEBOL pulled the 10-nation games from Columbia because of civil unrest and Argentina backed out because of a spike in coronavirus cases.\nCONMEBOL chose Brazil as the location of the games, but an outcry arose over the country's choice because of the large number of COVID-19 deaths that have occurred there, some 479,000, which is second only to the U.S.\nWith players complaining about the location choice, multinational companies began dropping their sponsorship of the games, potentially undermining the games and putting fuboTV's opportunity in jeopardy.\nA case of cold feet\nAmBev (NYSE:ABEV), the Brazilian unit of Anheuser-Busch InBev (NYSE:BUD)and sponsor of the Brazilian national team, announced \"its brands will not be present at the Copa America,\" as did Mastercard (NYSE:MA), which said it would not \"activate\" its sponsorship of the games, something it has done since 1992.\nThat was followed by global spirits distributor Diageo (NYSE:DEO), which said it was withdrawing sponsorship of Copa America \"given the current Brazilian health situation and out of respect for this moment of the COVID-19 pandemic.\"\nParties have gone to court to try to block Brazil from hosting the games, but the country's Supreme Court rejected the injunction bids and said the games could proceed, though they ordered various health and safety measures be implemented.\nThere also don't seem to be any boycotts of the games yet. While the Brazilian national team had called out \"humanitarian\" concerns over locating the games in their home country, it said it would still play.\nAn exclusive opportunity\nThis is why the qualifying games are so critical for fuboTV. To contain the possible spread of COVID-19, Brazilian officials are holding the games without fans present in the stadium, and the teams will undergo testing every 48 hours. Players will also have their movements restricted as they travel between the four host cities.\nThat means fans will need to find alternative means of watching the games, and with the sporting event's huge global popularity, fuboTV has a unique opportunity to see a massive influx of new subscribers to its streaming service.\nSelect English-language games will be available to subscribers who have the fubo Sports Network, but they will only be available on fuboTV and not through the network's usual off-platform distribution partners, such as ViacomCBS' Pluto TV.\nThe Copa America games will be free to current fuboTV subscribers, while new subscribers need to sign up for one of fubo's plans and then add the CONMEBOL & More package for an additional $7 per month. That package includes eight other premium sports channels featuring soccer, baseball, football, basketball, and more.\nIt's still game on\nfuboTV looks like it will avoid a collapse of the Copa America games, though other CONMEBOL games are going off without a hitch so far. As long as other major sponsors stay put, the teams don't boycott, and there are no COVID-19 outbreaks among players, it should be a success.\nThe situation, though, shows just how fragile the sporting world still is as it emerges from the pandemic and tries returning to a sense of normalcy. fuboTV, though, still has enormous growth prospects before it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898542626,"gmtCreate":1628514220865,"gmtModify":1633746555899,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898542626","repostId":"2158446563","repostType":4,"isVote":1,"tweetType":1,"viewCount":1013,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":154786939,"gmtCreate":1625545792021,"gmtModify":1633939773859,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"Yeah.........","listText":"Yeah.........","text":"Yeah.........","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/154786939","repostId":"1116255026","repostType":4,"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151702121,"gmtCreate":1625105250863,"gmtModify":1633944744039,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[鬼脸]&nbsp;","listText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[鬼脸]&nbsp;","text":"[得意] [得意] [得意] [得意] [得意] [鬼脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151702121","repostId":"1178516480","repostType":4,"repost":{"id":"1178516480","pubTimestamp":1625094708,"share":"https://www.laohu8.com/m/news/1178516480?lang=&edition=full","pubTime":"2021-07-01 07:11","market":"us","language":"en","title":"S&P 500 notches fifth straight record closing high, fifth straight quarterly gain","url":"https://stock-news.laohu8.com/highlight/detail?id=1178516480","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as inves","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.</p>\n<p>In the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.</p>\n<p>All three indexes posted their fifth consecutive quarterly gains, with the S&amp;P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&amp;P 500 registered its second-best first-half performance since 1998, rising 14.5%.</p>\n<p>“It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&amp;P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”</p>\n<p>For the month, the bellwether S&amp;P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.</p>\n<p>This month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.</p>\n<p>“Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”</p>\n<p>“(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.</p>\n<p>“Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”</p>\n<p>(Graphic: Growths stocks outperform value in June, narrow YTD gap, )</p>\n<p><img src=\"https://static.tigerbbs.com/5b82b4dfdc765d913811f9d8572e60f6\" tg-width=\"964\" tg-height=\"723\" referrerpolicy=\"no-referrer\">“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”</p>\n<p>The private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.</p>\n<p>The Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&amp;P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.</p>\n<p>Among the 11 major sectors in the S&amp;P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.</p>\n<p>Boeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.</p>\n<p>Walmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.</p>\n<p>Micron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.</p>\n<p>Volume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.</p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 notches fifth straight record closing high, fifth straight quarterly gain</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\">\nS&P 500 notches fifth straight record closing high, fifth straight quarterly gain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-01 07:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking ...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R\">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://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178516480","content_text":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.\nIn the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.\nAll three indexes posted their fifth consecutive quarterly gains, with the S&P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&P 500 registered its second-best first-half performance since 1998, rising 14.5%.\n“It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”\nFor the month, the bellwether S&P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.\nThis month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.\n“Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”\n“(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.\n“Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”\n(Graphic: Growths stocks outperform value in June, narrow YTD gap, )\n“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”\nThe private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.\nThe Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.\nAmong the 11 major sectors in the S&P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.\nBoeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.\nWalmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.\nMicron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.\nThe S&P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.\nVolume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":510,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":127110229,"gmtCreate":1624839215561,"gmtModify":1633948237177,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"Yes........","listText":"Yes........","text":"Yes........","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127110229","repostId":"2146007118","repostType":4,"repost":{"id":"2146007118","pubTimestamp":1624826996,"share":"https://www.laohu8.com/m/news/2146007118?lang=&edition=full","pubTime":"2021-06-28 04:49","market":"us","language":"en","title":"June jobs report, Consumer confidence: What to know this week","url":"https://stock-news.laohu8.com/highlight/detail?id=2146007118","media":"Yahoo Finance","summary":"This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.On Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.However, a confluence of ","content":"<p>This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.</p>\n<p>On Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.</p>\n<p>Non-farm payrolls likely grew by 700,000 in June, according to Bloomberg consensus data. This would accelerate from the 559,000 added back in May and mark the biggest rise since March. And the unemployment rate is expected to move down to 5.6% from 5.8% in May, bringing the jobless rate closer to its pre-pandemic, 50-year low of 3.5%.</p>\n<p>\"Payrolls probably surged again in June, with the pace up from the +559,000 in May,\" TD Securities strategists wrote in a note Friday. \"Some acceleration in the private sector is suggested by the Homebase data, while government payrolls probably benefited from fewer than usual end-of-school-year layoffs.\"</p>\n<p>Even with a sizable monthly payroll gain, the economy would still be well off its pre-pandemic levels of employment. Heading into June, the U.S. economy was still down by more than 7 million payrolls compared to February 2020, with the deficit most pronounced in high-contact services industries like restaurants and hotels.</p>\n<p>But both services and manufacturing companies have cited shortages of qualified workers to fill open positions, which hit a record high of over 9 million as of latest data. These supply-and-demand mismatches in the labor market – with shortages noted by firms from FedEx (FDX) to Yum Brands (YUM) — have also begun to push wages higher and created additional costs for businesses. In Friday's report, average hourly earnings are expected to jump 3.6% year-on-year for June, accelerating from May's 2% increase.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b881fe96eccc72cff61bf35b0dfa72fa\" tg-width=\"5210\" tg-height=\"3404\" referrerpolicy=\"no-referrer\"><span>SAN FRANCISCO, CALIFORNIA - JUNE 03: A pedestrian walks by a Now Hiring sign outside of a Lamps Plus store on June 03, 2021 in San Francisco, California. According to a U.S. Labor Department report, jobless claims fell for a fifth straight week to 385,000. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images</span></p>\n<p>\"Strong demand and weak supply should continue to put upward pressure on wages,\" Bank of America economist Michelle Meyer wrote in a note. \"Workers are quitting at a higher rate as they find better opportunities.\"</p>\n<p>However, a confluence of factors that have kept workers on the sidelines of the labor market may start to lessen in the coming months, some economists noted. Many have agreed that a combination of childcare concerns, fears of contracting COVID-19 and ongoing enhanced federal unemployment benefits have contributed to the still-elevated levels of joblessness, but that each of these should diminish as schools reopen, vaccinations continue and jobless benefits get phased out over the next several months.</p>\n<p>\"Labor supply may soon pick up,\" Meyer said. \"We find evidence of a quicker drop in unemployment insurance (UI) applications in states that discontinued generous federal UI benefits.\"</p>\n<p>\"Four states — Alaska, Iowa, Mississippi and Missouri — opted out in June 12 and UI applications in those states have fallen faster compared to other states, according to the latest initial jobless claims figures,\" she added. \"With another eight states opting out in the week ending June 19 and a total of 25 states by end of the summer, more workers should return to the workforce, helping to ease wage pressures and help meet the strong labor demand in the economy.\"</p>\n<h2>Consumer confidence</h2>\n<h2></h2>\n<p>Another closely watched economic data print this week will be the Conference Board's June consumer confidence index, which is expected to reflect a strong pick-up in sentiment during the recovery and heading into the summer. The report is due for release Tuesday morning.</p>\n<p>The headline index is likely to rise to 119.0 for June from 117.2 in May, according to Bloomberg consensus data. This would mark the highest level since February 2020's 132.6, which itself had been a near two-decade high.</p>\n<p>Like investors, consumers have begun to warm to the notion that inflationary pressures seen during the early stages of the economic recovery may prove transitory. This has helped raise consumers' future expectations for their spending power and boosted sentiment at large, according to other consumer sentiment surveys including the University of Michigan's Surveys of Consumers.</p>\n<p>Not only did year-ahead inflation expectations fall slightly to 4.2% in June from May's decade peak of 4.6%, consumers also believed that the price surges will mostly be temporary,\" Richard Curtin, chief economist for the Surveys of Consumers, said on Friday.</p>\n<p>\"When the pandemic first started, consumers were quite uncertain about their job and income prospects, but reported widespread declines in market prices for homes, vehicles, and household durables,\" he added. \"Those favorable price references have dropped to the most negative in a decade, and job and income prospects have improved, but not quite as favorable as in the last few years of the prior expansion.\"</p>\n<p>Still, in a sign of some downside risk in Tuesday's report from the Conference Board, the University of Michigan's June final sentiment index edged lower to 85.5, coming in below the 86.4 preliminary print, but still above May's reading of 82.9.</p>\n<h2>Economic Calendar</h2>\n<ul>\n <li><p><b>Monday: </b>Dallas Fed Manufacturing Activity Index, June (32.5 expected, 34.9 in May)</p></li>\n <li><p><b>Tuesday: </b>FHFA House Price Index, month-on-month, April (1.7% expected, 1.4% in March); S&amp;P <a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a> Case-Shiller 20-City Composite index, month-over-month, April (1.80% expected, 1.60% in March); S&amp;P CoreLogic Case-Shiller 20-City Composite index, year-over-year, April (13.27% in March); Conference Board Consumer Confidence, June (119.0 expected, 117.2 in May)</p></li>\n <li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended June 25 (2.1% during prior week); ADP Employment Change, June (575,000 expected, 978,000 in May); MNI Chicago PMI, June (70.0 expected, 75.2 in May); Pending home sales, month-over-month, May (-1.0% expected, -4.4% in April);</p></li>\n <li><p><b>Thursday: </b>Challenger Job Cuts, year-over-year, June (-93.8% in May); Initial jobless claims, week ended June 26 (380,000 expected, 411,000 during prior week); Continuing claims, week ended June 19 (3.39 million during prior week); <a href=\"https://laohu8.com/S/MRKT\">Markit</a> US Manufacturing PMI, June final (62.6 in prior print); Construction Spending month-over-month, May (0.5% expected 0.2% in April); ISM Manufacturing, June (61.0 expected, 61.2 in May)</p></li>\n <li><p><b>Friday: </b>Change in non-farm payrolls, June (700,000 expected, 559,000 in May); Unemployment rate, June (5.6% expected, 5.8% in May); Average hourly earnings year-over-year, June (3.6% expected, 2.0% in May); Average hourly earnings, month-over-month, June (0.4% expected, 0.5% in May); Trade balance, May (-$71.0 billion expected, -$68.9 billion in April); Factory orders, May (1.5% expected, -0.6% in April); Durable goods orders, May final (2.3% in prior print); Durable goods orders excluding transportation, May final (2.3% in prior print); Non-defense capital goods orders excluding aircraft, May final (-0.1% in April); Non-defense capital goods shipments excluding aircraft, May final (0.9% in prior print)</p></li>\n</ul>\n<h2>Earnings Calendar</h2>\n<ul>\n <li><p><b>Monday:</b> N/A</p></li>\n <li><p><b>Tuesday: </b>N/A</p></li>\n <li><p><b>Wednesday: </b>Constellation Brands (STZ), Bed Bath &amp; Beyond (BBBY), General Mills (GIS) before market open; Micron Technologies (MU) after market close</p></li>\n <li><p><b>Thursday: </b><a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a> (WBA) before market open</p></li>\n <li><p><b>Friday:</b> N/A</p></li>\n</ul>","source":"yahoofinance_au","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>June jobs report, Consumer confidence: What to know this 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\">\nJune jobs report, Consumer confidence: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 04:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.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/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146007118","content_text":"This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.\nOn Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.\nNon-farm payrolls likely grew by 700,000 in June, according to Bloomberg consensus data. This would accelerate from the 559,000 added back in May and mark the biggest rise since March. And the unemployment rate is expected to move down to 5.6% from 5.8% in May, bringing the jobless rate closer to its pre-pandemic, 50-year low of 3.5%.\n\"Payrolls probably surged again in June, with the pace up from the +559,000 in May,\" TD Securities strategists wrote in a note Friday. \"Some acceleration in the private sector is suggested by the Homebase data, while government payrolls probably benefited from fewer than usual end-of-school-year layoffs.\"\nEven with a sizable monthly payroll gain, the economy would still be well off its pre-pandemic levels of employment. Heading into June, the U.S. economy was still down by more than 7 million payrolls compared to February 2020, with the deficit most pronounced in high-contact services industries like restaurants and hotels.\nBut both services and manufacturing companies have cited shortages of qualified workers to fill open positions, which hit a record high of over 9 million as of latest data. These supply-and-demand mismatches in the labor market – with shortages noted by firms from FedEx (FDX) to Yum Brands (YUM) — have also begun to push wages higher and created additional costs for businesses. In Friday's report, average hourly earnings are expected to jump 3.6% year-on-year for June, accelerating from May's 2% increase.\nSAN FRANCISCO, CALIFORNIA - JUNE 03: A pedestrian walks by a Now Hiring sign outside of a Lamps Plus store on June 03, 2021 in San Francisco, California. According to a U.S. Labor Department report, jobless claims fell for a fifth straight week to 385,000. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images\n\"Strong demand and weak supply should continue to put upward pressure on wages,\" Bank of America economist Michelle Meyer wrote in a note. \"Workers are quitting at a higher rate as they find better opportunities.\"\nHowever, a confluence of factors that have kept workers on the sidelines of the labor market may start to lessen in the coming months, some economists noted. Many have agreed that a combination of childcare concerns, fears of contracting COVID-19 and ongoing enhanced federal unemployment benefits have contributed to the still-elevated levels of joblessness, but that each of these should diminish as schools reopen, vaccinations continue and jobless benefits get phased out over the next several months.\n\"Labor supply may soon pick up,\" Meyer said. \"We find evidence of a quicker drop in unemployment insurance (UI) applications in states that discontinued generous federal UI benefits.\"\n\"Four states — Alaska, Iowa, Mississippi and Missouri — opted out in June 12 and UI applications in those states have fallen faster compared to other states, according to the latest initial jobless claims figures,\" she added. \"With another eight states opting out in the week ending June 19 and a total of 25 states by end of the summer, more workers should return to the workforce, helping to ease wage pressures and help meet the strong labor demand in the economy.\"\nConsumer confidence\n\nAnother closely watched economic data print this week will be the Conference Board's June consumer confidence index, which is expected to reflect a strong pick-up in sentiment during the recovery and heading into the summer. The report is due for release Tuesday morning.\nThe headline index is likely to rise to 119.0 for June from 117.2 in May, according to Bloomberg consensus data. This would mark the highest level since February 2020's 132.6, which itself had been a near two-decade high.\nLike investors, consumers have begun to warm to the notion that inflationary pressures seen during the early stages of the economic recovery may prove transitory. This has helped raise consumers' future expectations for their spending power and boosted sentiment at large, according to other consumer sentiment surveys including the University of Michigan's Surveys of Consumers.\nNot only did year-ahead inflation expectations fall slightly to 4.2% in June from May's decade peak of 4.6%, consumers also believed that the price surges will mostly be temporary,\" Richard Curtin, chief economist for the Surveys of Consumers, said on Friday.\n\"When the pandemic first started, consumers were quite uncertain about their job and income prospects, but reported widespread declines in market prices for homes, vehicles, and household durables,\" he added. \"Those favorable price references have dropped to the most negative in a decade, and job and income prospects have improved, but not quite as favorable as in the last few years of the prior expansion.\"\nStill, in a sign of some downside risk in Tuesday's report from the Conference Board, the University of Michigan's June final sentiment index edged lower to 85.5, coming in below the 86.4 preliminary print, but still above May's reading of 82.9.\nEconomic Calendar\n\nMonday: Dallas Fed Manufacturing Activity Index, June (32.5 expected, 34.9 in May)\nTuesday: FHFA House Price Index, month-on-month, April (1.7% expected, 1.4% in March); S&P CoreLogic Case-Shiller 20-City Composite index, month-over-month, April (1.80% expected, 1.60% in March); S&P CoreLogic Case-Shiller 20-City Composite index, year-over-year, April (13.27% in March); Conference Board Consumer Confidence, June (119.0 expected, 117.2 in May)\nWednesday: MBA Mortgage Applications, week ended June 25 (2.1% during prior week); ADP Employment Change, June (575,000 expected, 978,000 in May); MNI Chicago PMI, June (70.0 expected, 75.2 in May); Pending home sales, month-over-month, May (-1.0% expected, -4.4% in April);\nThursday: Challenger Job Cuts, year-over-year, June (-93.8% in May); Initial jobless claims, week ended June 26 (380,000 expected, 411,000 during prior week); Continuing claims, week ended June 19 (3.39 million during prior week); Markit US Manufacturing PMI, June final (62.6 in prior print); Construction Spending month-over-month, May (0.5% expected 0.2% in April); ISM Manufacturing, June (61.0 expected, 61.2 in May)\nFriday: Change in non-farm payrolls, June (700,000 expected, 559,000 in May); Unemployment rate, June (5.6% expected, 5.8% in May); Average hourly earnings year-over-year, June (3.6% expected, 2.0% in May); Average hourly earnings, month-over-month, June (0.4% expected, 0.5% in May); Trade balance, May (-$71.0 billion expected, -$68.9 billion in April); Factory orders, May (1.5% expected, -0.6% in April); Durable goods orders, May final (2.3% in prior print); Durable goods orders excluding transportation, May final (2.3% in prior print); Non-defense capital goods orders excluding aircraft, May final (-0.1% in April); Non-defense capital goods shipments excluding aircraft, May final (0.9% in prior print)\n\nEarnings Calendar\n\nMonday: N/A\nTuesday: N/A\nWednesday: Constellation Brands (STZ), Bed Bath & Beyond (BBBY), General Mills (GIS) before market open; Micron Technologies (MU) after market close\nThursday: Walgreens Boots Alliance (WBA) before market open\nFriday: N/A","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154039874,"gmtCreate":1625458967398,"gmtModify":1633940476216,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;","listText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;","text":"[得意] [得意] [得意] [得意] [得意] [得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154039874","repostId":"1169840279","repostType":4,"isVote":1,"tweetType":1,"viewCount":919,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":127135839,"gmtCreate":1624839126321,"gmtModify":1633948239928,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"👍👍👍👍👍👍","listText":"👍👍👍👍👍👍","text":"👍👍👍👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127135839","repostId":"1136989303","repostType":4,"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169188716,"gmtCreate":1623821697835,"gmtModify":1634027550501,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/169188716","repostId":"1128132038","repostType":4,"repost":{"id":"1128132038","pubTimestamp":1623820564,"share":"https://www.laohu8.com/m/news/1128132038?lang=&edition=full","pubTime":"2021-06-16 13:16","market":"hk","language":"en","title":"Wanda Light Asset Gears Up for $3 Billion Hong Kong IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1128132038","media":"Bloomberg","summary":"Citic, Goldman Sachs, JPMorgan are helping with the offering\nWanda Light Asset is targeting first-ti","content":"<ul>\n <li>Citic, Goldman Sachs, JPMorgan are helping with the offering</li>\n <li>Wanda Light Asset is targeting first-time share sale this year</li>\n</ul>\n<p>Dalian Wanda Group Co.’s commercial property management unit has started preparations with banks for its Hong Kong initial public offering, which could raise about $3 billion, according to people familiar with the matter.</p>\n<p>Citic Securities Co.,Goldman Sachs Group Inc.&nbsp;and&nbsp;JPMorgan Chase &amp; Co.&nbsp;are working withWanda Light Asset Commercial Management Co.to prepare for the first-time share sale, the people said. The offering could happen as soon as this year, said the people, who asked not to be identified as the information is private.</p>\n<p>A Hong Kong IPO would come after the commercial property management firm&nbsp;withdrew&nbsp;its A-share listing in March, adding it will restructure its “asset light” commercial operation and go public at home and abroad as soon as possible. Wanda Light Asset is looking to raise about 20 billion yuan ($3.1 billion) in a pre-IPO funding round, in which more than 20 investors have expressed interest, Bloomberg News&nbsp;reported&nbsp;last month.</p>\n<p>Wanda Light Asset primarily operates and manages its parent’s Wanda Plaza commercial complexes, including 368 in operation and another 155 under construction. In March, the local government in Zhuhai, a city in Guangdong province, invested 3 billion yuan into the unit, according to a statement at that time. The company is now headquartered in Hengqin New Area of Zhuhai.</p>\n<p>Deliberations are ongoing and more banks could be added, the people said. Representatives for Citic Securities, Goldman Sachs and JPMorgan declined to comment, while a representative for Wanda didn’t immediately respond to requests for comment.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wanda Light Asset Gears Up for $3 Billion Hong Kong IPO</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\">\nWanda Light Asset Gears Up for $3 Billion Hong Kong IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 13:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-16/wanda-light-asset-said-to-gear-up-for-3-billion-hong-kong-ipo><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Citic, Goldman Sachs, JPMorgan are helping with the offering\nWanda Light Asset is targeting first-time share sale this year\n\nDalian Wanda Group Co.’s commercial property management unit has started ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-16/wanda-light-asset-said-to-gear-up-for-3-billion-hong-kong-ipo\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00169":"万达酒店发展"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-16/wanda-light-asset-said-to-gear-up-for-3-billion-hong-kong-ipo","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128132038","content_text":"Citic, Goldman Sachs, JPMorgan are helping with the offering\nWanda Light Asset is targeting first-time share sale this year\n\nDalian Wanda Group Co.’s commercial property management unit has started preparations with banks for its Hong Kong initial public offering, which could raise about $3 billion, according to people familiar with the matter.\nCitic Securities Co.,Goldman Sachs Group Inc. and JPMorgan Chase & Co. are working withWanda Light Asset Commercial Management Co.to prepare for the first-time share sale, the people said. The offering could happen as soon as this year, said the people, who asked not to be identified as the information is private.\nA Hong Kong IPO would come after the commercial property management firm withdrew its A-share listing in March, adding it will restructure its “asset light” commercial operation and go public at home and abroad as soon as possible. Wanda Light Asset is looking to raise about 20 billion yuan ($3.1 billion) in a pre-IPO funding round, in which more than 20 investors have expressed interest, Bloomberg News reported last month.\nWanda Light Asset primarily operates and manages its parent’s Wanda Plaza commercial complexes, including 368 in operation and another 155 under construction. In March, the local government in Zhuhai, a city in Guangdong province, invested 3 billion yuan into the unit, according to a statement at that time. The company is now headquartered in Hengqin New Area of Zhuhai.\nDeliberations are ongoing and more banks could be added, the people said. Representatives for Citic Securities, Goldman Sachs and JPMorgan declined to comment, while a representative for Wanda didn’t immediately respond to requests for comment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154030209,"gmtCreate":1625458915501,"gmtModify":1633940476927,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[鬼脸]&nbsp;[鬼脸]&nbsp;[鬼脸]&nbsp;","listText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[鬼脸]&nbsp;[鬼脸]&nbsp;[鬼脸]&nbsp;","text":"[得意] [得意] [得意] [得意] [鬼脸] [鬼脸] [鬼脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154030209","repostId":"1169840279","repostType":4,"isVote":1,"tweetType":1,"viewCount":1171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":124032106,"gmtCreate":1624705006805,"gmtModify":1633949414637,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"🤑🤑🤑🤑","listText":"🤑🤑🤑🤑","text":"🤑🤑🤑🤑","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124032106","repostId":"1108941456","repostType":4,"repost":{"id":"1108941456","pubTimestamp":1624664800,"share":"https://www.laohu8.com/m/news/1108941456?lang=&edition=full","pubTime":"2021-06-26 07:46","market":"us","language":"en","title":"Is Apple A Better Buy Than Other FAANG Stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=1108941456","media":"seekingalpha","summary":"Apple undoubtedly is a great company, with a strong brand, excellent margins, and fundamentals, a fortress balance sheet, and massive shareholder returns.Being a great company does not mean that the stock must be a great buy. However, valuations are significantly higher than they were historically.I believe that some of the other FAANG stocks are better, while others are worse. AAPL seems like a solid, but not a spectacular investment at today's valuation.At 26-64x this year's expected net profi","content":"<p><b>Summary</b></p>\n<ul>\n <li>Apple undoubtedly is a great company, with a strong brand, excellent margins, and fundamentals, a fortress balance sheet, and massive shareholder returns.</li>\n <li>Being a great company does not mean that the stock must be a great buy. However, valuations are significantly higher than they were historically.</li>\n <li>I believe that some of the other FAANG stocks are better, while others are worse. AAPL seems like a solid, but not a spectacular investment at today's valuation.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8bb49d385ec6d3044db2f4474cbb2c57\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>MagioreStock/iStock Editorial via Getty Images</span></p>\n<p><b>Article Thesis</b></p>\n<p>Going with FAANG stocks, i.e. Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Alphabet (GOOG)(GOOGL), has been a winning trade in recent years, as those companies delivered strong gains for their owners. These companies do, however, differ quite a lot from each other in a range of metrics, including growth, valuation, and there are also differences when it comes to each company's specific risks and moat. Apple is the largest company of these in terms of profits and market capitalization, but that does not necessarily make it the best investment. In this report, we will take a look at how Apple compares versus the other FAANG members.</p>\n<p><b>Are FAANG Stocks A Good Investment?</b></p>\n<p>Looking back a couple of years, the answer is pretty clear that FAANG stocks at least<i>were</i>a good investment in the recent past:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae2b8e2b9caf99f74c28bafc10a0a872\" tg-width=\"635\" tg-height=\"484\"><span>Data by YCharts</span></p>\n<p>With gains of 200% to 460%, these five companies easily trounced the broad market's returns over the same time, and all led to hefty gains, at least tripling an investor's money in just five years. The factors that led to these strong gains do, at least partially, still exist today. Notably, these five companies are generating compelling earnings growth, have leadership positions in the markets they address, possess strong brands that are well-received by consumers, and seem to have strong, long-term-oriented leadership teams.</p>\n<p>These factors are still in place today, which indicates that FAANG stocks could also be good investments in coming years, although investors should, even with high-quality companies, also consider a stock's valuation. Today, these companies do not look extremely cheap in most cases:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2ef865eea7af4369048432a9c85d1d83\" tg-width=\"635\" tg-height=\"540\"><span>Data by YCharts</span></p>\n<p>At 26-64x this year's expected net profits, FAANG stocks can't really be called bargains, although the above-average valuations are, at least to some degree, justified due to the above-average earnings growth that these companies do generate. In any case, I doubt that investors owning FAANG stocks today will see 200%-400%+ returns over the next five years, as this seems unlikely for each of these five stocks due to the combination of current valuations and expected earnings growth. This does, however, not mean that FAANG stocks must be bad investments or underperform the market. In fact, in recent articles, I showcased that solid or even quite attractive returns can be expected from&nbsp;Facebook,Amazon, and Apple, even though the 30%-50% annual returns are likely a thing of the past - that's just mathematics, as no stock can grow at that rate forever.</p>\n<p><b>What Investors Can Expect From Apple</b></p>\n<p>Apple Inc. is not the highest-growth FAANG stock at all. Its growth has been solid but not spectacular in the recent past. This isn't a large surprise, as there is only a certain number of consumers that want to buy an iPhone or an iPad, and that amount can't grow by 50% a year for a very long time. Nevertheless, due to some market growth, some price increases, and growth from its services business, Apple should still be able to deliver sizeable revenue growth in the long run. New products such as the car project are a potential wildcard, but at least for the foreseeable future, this will not be a major profit center for the company. Apple also has a very ambitious shareholder return program, and its buybacks are an important factor for its future earnings per share growth. I believe that, overall, a high-single-digit earnings per share growth rate will be very much achievable for Apple in the long run. Combined with some multiple depression that I expect in coming years, as Apple will likely not trade at a high-20s earnings multiple forever, this gets me to a total return estimate&nbsp;in the 7% range. This is significantly less compared to what investors saw over the last couple of years, but on the other hand, 7% annual returns stemming from a strong, stable blue-chip stock such as Apple are not unattractive. I believe that some of the FAANG stocks could deliver stronger returns, primarily Alphabet and Facebook.</p>\n<p><b>Apple Versus Facebook</b></p>\n<p>Both Apple Inc. and Facebook have a great market position, but Facebook is even more dominant in its industry compared to Apple. Apple has, in the smartphone industry, a market share of around 20%, although more in the higher-end segments. Facebook, for comparison, owns four out of the top five social media networks, with Facebook, Instagram, Facebook Messenger, and WhatsApp. Clearly, FB absolutely dominates its industry. Facebook's industry is also growing quicker than the hardware IT markets that Apple serves, which is why Facebook's growth was significantly higher than Apple's growth in the recent past:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8fd8043ca75dcb2c38f5ffa427c8c0b9\" tg-width=\"635\" tg-height=\"433\"><span>Data by YCharts</span></p>\n<p>Facebook grew its revenue by well above 300% over the last five years, while Apple's revenue grew by a little less than 50%. When we look back at the total return chart at the beginning of this article and compare it to this revenue chart, we see that Apple's returns stemmed from multiple expansion to a large degree, whereas Facebook's stock actually got less expensive over the last five years. Facebook's business growth clearly outpaced its share price gains, which has made its shares less expensive. This also explains why Facebook, today, trades below the long-term median earnings multiple, whereas Apple's valuation is at the higher end of the historic range:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3d49e0007aa77608b2992a9fef2142d\" tg-width=\"635\" tg-height=\"481\"><span>Data by YCharts</span></p>\n<p>The fact that Facebook trades at a historic discount points to a solid entry price, whereas the same can't be said about Apple. On top of that, Facebook will also grow much faster in the future - at least if the analyst community is correct:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6b16c9b3e2eac182d42686bcd8a98fc5\" tg-width=\"635\" tg-height=\"515\"><span>Data by YCharts</span></p>\n<p>While Apple is expected to see revenue growth of around 10% over the next two years, Facebook is expected to grow by 40% over the same time. Facebook's earnings per share growth estimate is also materially higher than that of Apple.</p>\n<p>To sum things up, we can say that Facebook is growing much faster, is even more dominant in its industry compared to Apple, and its shares are trading at a discount compared to the historic average, whereas Apple's shares are historically expensive. This combination makes me believe that the total return outlook for Facebook is better compared to that of Apple.</p>\n<p><b>Apple Versus Alphabet</b></p>\n<p>When we compare Apple to Alphabet, the comparison is relatively similar to what we just saw when comparing Applet to Facebook. Alphabet is a company that is growing quicker than Apple, and that can, to a large degree, be explained by its great market position and the higher market growth rate. Online advertising is a market that has been growing quicker than the tablet or smartphone market in recent years, and the same will, I believe, be true in the foreseeable future as well.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6360514d097081c546a0ccacfbdc7af6\" tg-width=\"635\" tg-height=\"450\"><span>Data by YCharts</span></p>\n<p>Alphabet is forecasted to grow its revenue by more than 30% over the next two years, versus Apple's 10% growth. On top of that, at close to 20%, Alphabet is also expected to grow its earnings per share at a higher rate.</p>\n<p>Nevertheless, despite its significantly better growth forecast, Alphabet isn't a lot more expensive compared to Apple. GOOG trades at 29x forward earnings, versus AAPL's 26x forward earnings multiple. Does it make sense for GOOG to trade at a premium of just 10%, while its expected growth is one and a half times as high as that of AAPL? You be the judge, but to me, it seems like the valuation looks better at Alphabet as long as we account for the stronger growth expectations. On top of that, with a net cash position of around $120 billion, Alphabet also has one of the best balance sheets in the world. Apple, for comparison, has a somewhat<i>smaller</i>net cash position of $80 billion, although that still makes for a very strong balance sheet, of course.</p>\n<p>All in all, we can summarize that Alphabet is growing faster today, is expected to grow significantly faster in the next two years and in the long run, has an even better balance sheet and a more dominant market position, and yet it trades at an earnings multiple that is only 10% higher than that of Apple. To me, Alphabet thus looks like the more attractive pick among these two at current prices.</p>\n<p><b>Apple Versus Netflix And Amazon</b></p>\n<p>Looking at the last two remaining companies in the FAANG group, we see that, once again, AAPL is growing at a slower pace. Unless Facebook and Alphabet, however, both Netflix and Amazon are way more expensive than Apple.</p>\n<p>This huge valuation premium offsets, at least to some degree, the higher expected growth, which is why I believe that Netflix and Amazon do not really seem like much better picks compared to Apple:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ccc2536fa3cadf06639a89e0b211b9a\" tg-width=\"635\" tg-height=\"481\"><span>Data by YCharts</span></p>\n<p>AMZN and NFLX trade at PEG ratios of 1.8 and 1.9, which does not represent a clear discount compared to AAPL's valuation. On top of that, these two companies do not possess balance sheets that are as strong as that of Apple.</p>\n<p>Netflix, especially, looks significantly worse compared to the other FAANG members in terms of balance sheet strength and cash generation:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9d84f013051fbb00b6b488f5cfed66d4\" tg-width=\"635\" tg-height=\"450\"><span>Data by YCharts</span></p>\n<p>Netflix is the only FAANG member with a meaningful net debt position, and its free cash flows are equal to just 1% of its market capitalization. Netflix grows fast, but to me, it seems doubtful whether the current valuation is justified. Considering that more and more companies are pushing into the streaming market, including Disney (DIS), Amazon, and AT&amp;T(NYSE:T), more competition might hurt Netflix's margins in the future. NFLX thus seems like the worst pick among the five FAANG stocks to me, as it combines a high valuation, weak cash flows, and a somewhat uncertain competitive picture, and I think that is not fully negated by its strong growth alone.</p>\n<p>Amazon has a better market position than Netflix, a better balance sheet, and its valuation, relative to its growth, is a little lower than that of Netflix. I would rate Amazon as more or less equally attractive to Apple, although the two companies are quite different from each other in terms of growth, valuation, and shareholder returns.</p>\n<p><b>Which Is The Best FAANG Stock To Buy?</b></p>\n<p>Not every investor has the same goals, thus the answer may be different depending on what you are looking for in a stock. To me, Apple seems like a solid, but outstanding pick at current prices - the business undoubtedly is strong, the balance sheet is great, shareholder returns are hefty, but the valuation seems stretched, especially when we consider how cheap shares were in the past.</p>\n<p>Alphabet and Facebook do seem like the best FAANG picks to me today, as they combine strong growth with valuations that are only marginally higher than that of Apple. On top of that, both Alphabet and Facebook dominate their markets. Amazon is a stock that I would rate as a solid investment at today's price, so more or less in line with AAPL, whereas Netflix seems like the weakest pick among these five to me.</p>\n<p>Depending on your time horizon, appetite for risk, etc. you may disagree, however - and that's perfectly fine. I'd be glad to hear your top picks and reasoning in the comment section!</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Apple A Better Buy Than Other FAANG Stocks?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Apple A Better Buy Than Other FAANG Stocks?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-26 07:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436558-apple-better-buy-faang-stocks><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nApple undoubtedly is a great company, with a strong brand, excellent margins, and fundamentals, a fortress balance sheet, and massive shareholder returns.\nBeing a great company does not mean ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436558-apple-better-buy-faang-stocks\">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"},"source_url":"https://seekingalpha.com/article/4436558-apple-better-buy-faang-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108941456","content_text":"Summary\n\nApple undoubtedly is a great company, with a strong brand, excellent margins, and fundamentals, a fortress balance sheet, and massive shareholder returns.\nBeing a great company does not mean that the stock must be a great buy. However, valuations are significantly higher than they were historically.\nI believe that some of the other FAANG stocks are better, while others are worse. AAPL seems like a solid, but not a spectacular investment at today's valuation.\n\nMagioreStock/iStock Editorial via Getty Images\nArticle Thesis\nGoing with FAANG stocks, i.e. Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Alphabet (GOOG)(GOOGL), has been a winning trade in recent years, as those companies delivered strong gains for their owners. These companies do, however, differ quite a lot from each other in a range of metrics, including growth, valuation, and there are also differences when it comes to each company's specific risks and moat. Apple is the largest company of these in terms of profits and market capitalization, but that does not necessarily make it the best investment. In this report, we will take a look at how Apple compares versus the other FAANG members.\nAre FAANG Stocks A Good Investment?\nLooking back a couple of years, the answer is pretty clear that FAANG stocks at leastwerea good investment in the recent past:\nData by YCharts\nWith gains of 200% to 460%, these five companies easily trounced the broad market's returns over the same time, and all led to hefty gains, at least tripling an investor's money in just five years. The factors that led to these strong gains do, at least partially, still exist today. Notably, these five companies are generating compelling earnings growth, have leadership positions in the markets they address, possess strong brands that are well-received by consumers, and seem to have strong, long-term-oriented leadership teams.\nThese factors are still in place today, which indicates that FAANG stocks could also be good investments in coming years, although investors should, even with high-quality companies, also consider a stock's valuation. Today, these companies do not look extremely cheap in most cases:\nData by YCharts\nAt 26-64x this year's expected net profits, FAANG stocks can't really be called bargains, although the above-average valuations are, at least to some degree, justified due to the above-average earnings growth that these companies do generate. In any case, I doubt that investors owning FAANG stocks today will see 200%-400%+ returns over the next five years, as this seems unlikely for each of these five stocks due to the combination of current valuations and expected earnings growth. This does, however, not mean that FAANG stocks must be bad investments or underperform the market. In fact, in recent articles, I showcased that solid or even quite attractive returns can be expected from Facebook,Amazon, and Apple, even though the 30%-50% annual returns are likely a thing of the past - that's just mathematics, as no stock can grow at that rate forever.\nWhat Investors Can Expect From Apple\nApple Inc. is not the highest-growth FAANG stock at all. Its growth has been solid but not spectacular in the recent past. This isn't a large surprise, as there is only a certain number of consumers that want to buy an iPhone or an iPad, and that amount can't grow by 50% a year for a very long time. Nevertheless, due to some market growth, some price increases, and growth from its services business, Apple should still be able to deliver sizeable revenue growth in the long run. New products such as the car project are a potential wildcard, but at least for the foreseeable future, this will not be a major profit center for the company. Apple also has a very ambitious shareholder return program, and its buybacks are an important factor for its future earnings per share growth. I believe that, overall, a high-single-digit earnings per share growth rate will be very much achievable for Apple in the long run. Combined with some multiple depression that I expect in coming years, as Apple will likely not trade at a high-20s earnings multiple forever, this gets me to a total return estimate in the 7% range. This is significantly less compared to what investors saw over the last couple of years, but on the other hand, 7% annual returns stemming from a strong, stable blue-chip stock such as Apple are not unattractive. I believe that some of the FAANG stocks could deliver stronger returns, primarily Alphabet and Facebook.\nApple Versus Facebook\nBoth Apple Inc. and Facebook have a great market position, but Facebook is even more dominant in its industry compared to Apple. Apple has, in the smartphone industry, a market share of around 20%, although more in the higher-end segments. Facebook, for comparison, owns four out of the top five social media networks, with Facebook, Instagram, Facebook Messenger, and WhatsApp. Clearly, FB absolutely dominates its industry. Facebook's industry is also growing quicker than the hardware IT markets that Apple serves, which is why Facebook's growth was significantly higher than Apple's growth in the recent past:\nData by YCharts\nFacebook grew its revenue by well above 300% over the last five years, while Apple's revenue grew by a little less than 50%. When we look back at the total return chart at the beginning of this article and compare it to this revenue chart, we see that Apple's returns stemmed from multiple expansion to a large degree, whereas Facebook's stock actually got less expensive over the last five years. Facebook's business growth clearly outpaced its share price gains, which has made its shares less expensive. This also explains why Facebook, today, trades below the long-term median earnings multiple, whereas Apple's valuation is at the higher end of the historic range:\nData by YCharts\nThe fact that Facebook trades at a historic discount points to a solid entry price, whereas the same can't be said about Apple. On top of that, Facebook will also grow much faster in the future - at least if the analyst community is correct:\nData by YCharts\nWhile Apple is expected to see revenue growth of around 10% over the next two years, Facebook is expected to grow by 40% over the same time. Facebook's earnings per share growth estimate is also materially higher than that of Apple.\nTo sum things up, we can say that Facebook is growing much faster, is even more dominant in its industry compared to Apple, and its shares are trading at a discount compared to the historic average, whereas Apple's shares are historically expensive. This combination makes me believe that the total return outlook for Facebook is better compared to that of Apple.\nApple Versus Alphabet\nWhen we compare Apple to Alphabet, the comparison is relatively similar to what we just saw when comparing Applet to Facebook. Alphabet is a company that is growing quicker than Apple, and that can, to a large degree, be explained by its great market position and the higher market growth rate. Online advertising is a market that has been growing quicker than the tablet or smartphone market in recent years, and the same will, I believe, be true in the foreseeable future as well.\nData by YCharts\nAlphabet is forecasted to grow its revenue by more than 30% over the next two years, versus Apple's 10% growth. On top of that, at close to 20%, Alphabet is also expected to grow its earnings per share at a higher rate.\nNevertheless, despite its significantly better growth forecast, Alphabet isn't a lot more expensive compared to Apple. GOOG trades at 29x forward earnings, versus AAPL's 26x forward earnings multiple. Does it make sense for GOOG to trade at a premium of just 10%, while its expected growth is one and a half times as high as that of AAPL? You be the judge, but to me, it seems like the valuation looks better at Alphabet as long as we account for the stronger growth expectations. On top of that, with a net cash position of around $120 billion, Alphabet also has one of the best balance sheets in the world. Apple, for comparison, has a somewhatsmallernet cash position of $80 billion, although that still makes for a very strong balance sheet, of course.\nAll in all, we can summarize that Alphabet is growing faster today, is expected to grow significantly faster in the next two years and in the long run, has an even better balance sheet and a more dominant market position, and yet it trades at an earnings multiple that is only 10% higher than that of Apple. To me, Alphabet thus looks like the more attractive pick among these two at current prices.\nApple Versus Netflix And Amazon\nLooking at the last two remaining companies in the FAANG group, we see that, once again, AAPL is growing at a slower pace. Unless Facebook and Alphabet, however, both Netflix and Amazon are way more expensive than Apple.\nThis huge valuation premium offsets, at least to some degree, the higher expected growth, which is why I believe that Netflix and Amazon do not really seem like much better picks compared to Apple:\nData by YCharts\nAMZN and NFLX trade at PEG ratios of 1.8 and 1.9, which does not represent a clear discount compared to AAPL's valuation. On top of that, these two companies do not possess balance sheets that are as strong as that of Apple.\nNetflix, especially, looks significantly worse compared to the other FAANG members in terms of balance sheet strength and cash generation:\nData by YCharts\nNetflix is the only FAANG member with a meaningful net debt position, and its free cash flows are equal to just 1% of its market capitalization. Netflix grows fast, but to me, it seems doubtful whether the current valuation is justified. Considering that more and more companies are pushing into the streaming market, including Disney (DIS), Amazon, and AT&T(NYSE:T), more competition might hurt Netflix's margins in the future. NFLX thus seems like the worst pick among the five FAANG stocks to me, as it combines a high valuation, weak cash flows, and a somewhat uncertain competitive picture, and I think that is not fully negated by its strong growth alone.\nAmazon has a better market position than Netflix, a better balance sheet, and its valuation, relative to its growth, is a little lower than that of Netflix. I would rate Amazon as more or less equally attractive to Apple, although the two companies are quite different from each other in terms of growth, valuation, and shareholder returns.\nWhich Is The Best FAANG Stock To Buy?\nNot every investor has the same goals, thus the answer may be different depending on what you are looking for in a stock. To me, Apple seems like a solid, but outstanding pick at current prices - the business undoubtedly is strong, the balance sheet is great, shareholder returns are hefty, but the valuation seems stretched, especially when we consider how cheap shares were in the past.\nAlphabet and Facebook do seem like the best FAANG picks to me today, as they combine strong growth with valuations that are only marginally higher than that of Apple. On top of that, both Alphabet and Facebook dominate their markets. Amazon is a stock that I would rate as a solid investment at today's price, so more or less in line with AAPL, whereas Netflix seems like the weakest pick among these five to me.\nDepending on your time horizon, appetite for risk, etc. you may disagree, however - and that's perfectly fine. I'd be glad to hear your top picks and reasoning in the comment section!","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183307336,"gmtCreate":1623305054225,"gmtModify":1634034750712,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183307336","repostId":"2142241696","repostType":4,"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896701968,"gmtCreate":1628603814354,"gmtModify":1633745805226,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","listText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","text":"[呆住] [呆住] [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/896701968","repostId":"1109397612","repostType":4,"repost":{"id":"1109397612","pubTimestamp":1628578754,"share":"https://www.laohu8.com/m/news/1109397612?lang=&edition=full","pubTime":"2021-08-10 14:59","market":"us","language":"en","title":"Moderna Is A Winner In COVID-19 Vaccines, But What's Next?","url":"https://stock-news.laohu8.com/highlight/detail?id=1109397612","media":"seeking alpha","summary":"Investment Thesis\nModerna (MRNA) and Novavax (NVAX) released their respective Q2 earnings one after ","content":"<p>Investment Thesis</p>\n<p>Moderna (MRNA) and <a href=\"https://laohu8.com/S/NVAX\">Novavax</a> (NVAX) released their respective <a href=\"https://laohu8.com/S/QTWO\">Q2</a> earnings <a href=\"https://laohu8.com/S/AONE.U\">one</a> after the other, with Moderna indicating encouraging progress in its mRNA vaccine programs along with its COVID-19 vaccine production ramp. At the same time, Novavax surprised the market with its delay in filing for emergency use authorization ((EUA)) with the US government ((USG)).</p>\n<p>Moderna has continued to make excellent momentum as the company took full advantage of a highly successful COVID-19 vaccine program to develop the other vaccines in other therapeutic areas to future-proof its revenue sustainability, as the world gradually moves on to a world where COVID-19 is endemic.</p>\n<p>This article provides a timely update for our readers to decide whether Moderna is still a good investment given the recent run-up that we think has resulted in a high amount of optimism being baked into its price.</p>\n<p>Q2 Earnings Recap</p>\n<p><i>Moderna quarterly revenue surprise. Source: Seeking Alpha Premium</i></p>\n<p><i>Moderna quarterly EPS surprise. Source: Seeking Alpha Premium</i></p>\n<p>Moderna reported a solid Q2 report card, keeping in line with the momentum from Q1, as the company posted revenue of $4.354B and EPS of $6.46, which were 10.3% and 2.8% above the consensus estimates.</p>\n<p><img src=\"https://static.tigerbbs.com/727827b49e82cf15b729bc1d2efd38fa\" tg-width=\"600\" tg-height=\"371\" referrerpolicy=\"no-referrer\"><i>Moderna H1'21 revenue and FY21 consensus estimate. Data source: S&amp;P Capital IQ</i></p>\n<p>Importantly, Moderna posted a highly impressive QoQ increase of 125% in revenue from $1.94B in Q1'21 to $4.35B in Q2'21. However, Moderna would need to significantly ramp up in H2'21 for the company to meet the Street's FY21 estimates as H1'21's revenue of $6.29B accounted for only 31.2% of the FY21 consensus estimates.</p>\n<p>To that, Moderna has assured investors that based on the company's signed advanced purchase agreements ((APA)) for FY21, Moderna indicated that \"expected delivery in 2021reflect the current full-year total of approximately $20 billion in anticipated product sales.\" The company continues to anticipate a supply of at least 800M to 1B doses for 2021.</p>\n<p>Studying Moderna's Gross Margins and Pricing Strategy</p>\n<p><i>Moderna quarterly gross margin. Data source: S&amp;P Capital IQ</i></p>\n<p>The production ramp in Q2'21 has also improved Moderna's economies of scale as its gross margin improved markedly in Q2'21, as Moderna's total cost of revenue represents about 26.9% of Q2'21 revenue.</p>\n<p>Crucially, Moderna has indicated that its COVID-19H1'21's product salesof $5.93B which constitute about 94.3% of H1'21's total revenue, has a much lower cost of revenue. Based on our findings, Moderna's COVID-19 product sales have a cost of revenue of $1.1B, representing about 18.5% of H1'21's COVID-19 product revenue, therefore indicating that the average gross margin for its COVID-19 product is about 81.5%. The company has also emphasized that it \"expects the average cost total of sales as a percent of product sales to be between 18% and 20% compared to our previous outlook of approximately 20% of product sales. This reflects the successful ramp-up of this global manufacturing network.\"</p>\n<p>Since Moderna delivered 199M doses in Q2'21 and 102M doses in Q1'21, the company delivered a collective amount of 301M doses in H1'21 that was recognized as product revenue. Given that our cost of revenue is about $1.1B for H1'21, we could thus derive an average cost per dose of about $3.65, which the company has highlighted that it expects to maintain for the rest of 2021.</p>\n<p>Before we carry on, Moderna has highlighted that the cost of sales that the company reflected in H1'21 of $943M included their \"zero-cost COVID-19 inventory,\" as the company emphasized: \"At the end of the first quarter of 2021, we had substantially utilized our zero-cost COVID-19 vaccine inventory. Therefore, if inventory sold for the six months ended June 30, 2021, were valued at cost, our cost of sales for the period would have been $1.1 billion.\" Therefore, based on our computation above, we believe it's important to reflect the cost of sales more accurately, which the company also corroborates in their earnings call.</p>\n<p><img src=\"https://static.tigerbbs.com/28b81eba2e15387ebf431cce2b895aba\" tg-width=\"600\" tg-height=\"371\" referrerpolicy=\"no-referrer\">Moderna Spikevax pricing tiers. Data source: Moderna</p>\n<p>Moderna adopts a tiered pricing model to distribute its vaccines equitably. For the USG, the company has applied a \"favorable\" pricing model because of the US government's funding as well as the 500M doses order that the USG committed to Moderna, which the company emphasized, \"is very large.\"</p>\n<p>The other higher-income countries paid between $32 and $37, including larger orders from countries that include the EU with an APA of260M dosesfor 2021. Thus, applying Moderna's large contract discount logic, we should expect the average EU pricing to be at the lower end of the $32 to $37 range.</p>\n<p>For the lower to middle-income countries, even though the company did not explicitly disclose the exact price range, the company highlighted that this category \"received the lowest-tiered pricing, including those sales to COVAX, which are considerably lower than the price to the U.S. government.\"</p>\n<p>For Moderna, we could easily derive its average price at about $19.7 ($5.93B/301M) per dose for H1'21, even though the company has emphasized that it's likely to be reduced moving into 2022 as they ramp the production for delivery to COVAX as well as the lower and middle-income countries, especially since the COVAX APA is set to increase from 34M doses in 2021 to 117M doses in 2022, with an option to increase up to 350M doses.</p>\n<p>COVAX reported an average price of about$5.20 per dose; thus, it would be useful for investors to continue monitoring the impact on the average price for mRNA-1273 moving forward. Moderna has also indicated that it is expecting more price competition as we move from a pandemic towards a world where COVID-19 is endemic. In addition, it may also be useful to watch closely for further improvement in its economies of scale as the company ramps production from an estimated 800M to 1B doses in 2021 to 2B to 3B doses in 2022.</p>\n<p>Moderna's Strategy Moving <a href=\"https://laohu8.com/S/FORD\">Forward</a></p>\n<p>Share of the population fully vaccinated against COVID-19. Source: OWID</p>\n<p>It's straightforward that Moderna has ramped production significantly to compete for the next phase in COVID-19 distribution for its mRNA-1273 product for countries within the COVAX category in 2022 and 2023 as the high-income countries are starting to approach the 60% to 70% fully vaccinated mark. However, we could clearly glean from the chart above where only 15% of the total world population has been fully vaccinated, while countries like Indonesia and India have only 8% and 7.8% of their population fully inoculated, and South America's 20.9% still has a long way to go as well.</p>\n<p>Moving forward, the strategy for the high-income countries is starting to move towards booster shots. We think this is where Moderna, as one of the 2 mRNA vaccines makers, has sufficiently proven its worth against <a href=\"https://laohu8.com/S/PFE\">Pfizer</a>-BioNTech as the company's recent COVE study demonstrated that mRNA-1273 could maintain the efficacy of 93.2%, 4 to 6 months after the second dose, and a 98.2% efficacy against severe disease, as well as a 100% efficacy against death caused by COVID-19. As compared to Pfizer-BioNTech's vaccine, where the efficacy is expected to drop to84%after 6 months, we would clearly applaud the breathtaking results that clearly demonstrate the superiority of Moderna's Spikevax against Comirnaty.</p>\n<p>To this Moderna Co-founder and Chairman Dr. Noubar Afeyan clearly articulated who he thinks owns the superior mRNA technology for COVID-19 vaccine in the market (shout-out to Pfizer-BioNTech folks):</p>\n<blockquote>\n We set outto develop the most effective vaccine against this virus that would last for the longest possible time, [helping] the largest number of people to be safe...And this is the first time we had data that at least showed that six months after the initial vaccinations were seeing essentially the same level of protection, which is very encouraging.\n</blockquote>\n<p>Moderna also emphasized that we should never underestimate the efficacy differences as just plain numbers, which in Moderna's and Pfizer-BioNTech's case amounted to 9.2% points. The company emphasized that:</p>\n<blockquote>\n The relative strength of the different vaccines suggested that small differences in efficacy would start to emerge to be larger differences in efficacy at about 200, 250 days as neutralizing antibody titers waned. And that may be what we're starting to see. And if you play that forward, if you assume [Professor Davenport of the University of <a href=\"https://laohu8.com/S/NGD\">New</a> South Wales, Australia] been right about those predictions, then that picture continues and continues through a year with continued declining neutralizing antibody titers over that time. And eventually, we therefore believe, a real increase in breakthrough infections and disease even with vaccinated participants, even with mRNA-1273.\n</blockquote>\n<p>Moderna has also presented clear findings where it expects that a booster shot would significantly increase the neutralizing titers. In contrast, without the booster, for test subjects 6 to 8 months after their second dose, the neutralizing titers have dropped so significantly that for the Beta, Gamma and Delta variants, the \"neutralizing titers had fallen below the detectable -- the level of detection of the assay for a decent number of participants in all 4 -- all 3 cases.\"</p>\n<p>As a result, we expect Moderna has strongly assembled the case for a booster with strong evidence suggesting their importance to protect against the new potential variants that may emerge, which Moderna has certainly warned: \"...It seems logical to us that those 3 mutations present in the Beta, Gamma line and those 2 mutations present in the Delta might find some way to combine in new and potentially scary ways. And if that came with the increased transmissibility, [the] force of infection that Delta can achieve, that might be a significant threat. And so we view our multivalent platform as the best place for us to try and anticipate that threat.\"</p>\n<p>The company is developing a \"proactive\" multivalent platform where it combines \"different variants into a single vaccine\" as its strategy to combat potential variants that are expected to emerge. Based on the company's assays study, this platform clearly outperformed the other candidates in its study. In addition, it stood out as a strong candidate to be used as a booster option, even though the primary mRNA-1273 candidate can also be used effectively as a booster.</p>\n<p>However, in a fast-evolving situation with COVID-19, we think having more efficacious options are only going to be beneficial as vaccine makers try to anticipate and are proactive against potential new and more potent antigens where Moderna even admitted that the Delta variant had humbled them, as it added: \"I think the Delta variant has taught us to also be incredibly humble in the face of the virus' ability to fight back and increase its transmission. I mean, I think most of us would have thought SARS-CoV-2 was a pretty good infector earlier this year. Delta has shown us that it can make huge steps forward.\"</p>\n<p>Risks to our Thesis</p>\n<p>By now, it should be clear that 2022 is promising to be a year where Moderna would almost double or triple its supply to 2B or 3B doses, depending on whether the company is using 100 micrograms or 50 micrograms in its product moving forward. Pfizer-BioNTech is also expected to increase its capacity to 3B doses in 2022, while we also need to take into account Novavax's impending entry into the COVID-19 vaccines production game, as well as the Chinese vaccine makers who already have an annual capacity of 5B doses.</p>\n<p>We think there is a realistic chance where Moderna may be facing an over-supply situation even though it may have proven itself to be the superior mRNA vaccine for now against Pfizer-BioNTech.</p>\n<p><img src=\"https://static.tigerbbs.com/3b54cee9edb8e398275290f3edcdb770\" tg-width=\"640\" tg-height=\"353\" referrerpolicy=\"no-referrer\">Revenue forecast mean consensus. Data source: S&amp;P Capital IQ</p>\n<p>Therefore, we think the Street has prudently lowered its revenue estimates for Moderna over the next few years. The company is also likely to come under pricing pressure against the huge supply expected to come online.</p>\n<p>However, we think Moderna is keenly aware of it. The company clearly highlighted that they had made good progress in the other 5 therapeutic areas that the company is involved in. Of notable mention is the fast track designation the company recently received from the US FDA for the company'sRSV vaccine candidate, mRNA-1345, especially when there is no approved RSV vaccine yet in the market.</p>\n<p>In addition, the company has also commenced on the Phase I/II study of its mRNA-1010 quadrivalent seasonal flu vaccine to target the seasonal flu market, where it's worth about $5B to $6B annually, according to Moderna's estimates, especially when the current flu vaccine efficacy is between 40% and 60% according toCDC data. Moderna expects its quadrivalent vaccine to be launched as early as 2023.</p>\n<p>Moderna is also expecting good results from its CMV vaccine, which is expected to be entering Phase III trials soon. It would also allow the company to tap into a market worth between $2B and $5B annually.</p>\n<p>Hence, we think that the company has been proactively working on the success of its mRNA-1273 to progress confidently along the other programs to sustain its commercial success beyond just being a COVID-19 vaccine maker. Therefore, we encourage investors to monitor its most advanced programs closely and keep pace with them moving forward.</p>\n<p>Valuations</p>\n<p><img src=\"https://static.tigerbbs.com/69cb54a8282012f6cff4095f28e2a08f\" tg-width=\"640\" tg-height=\"176\" referrerpolicy=\"no-referrer\">Biotech peers valuation comp set. Source: TIKR</p>\n<p>EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</p>\n<p>Moderna is currently trading at an EV / Fwd Rev of about 8x, which interestingly comes in below its peers' mean multiple of 14.14x, where Moderna may look to be attractively valued. However, this assumes that Moderna can keep increasing its revenue strongly over the next few years, a point that we have raised previously may face significant headwinds ahead.</p>\n<p>Importantly, we could see that based on the company's expected revenue moving forward, the company is not likely to see meaningful progress on its capital appreciation potential moving forward as its revenue multiple by the end of FY25 is expected to be about 14.6x, which is in line with the peers' mean multiple right now.</p>\n<p><img src=\"https://static.tigerbbs.com/a4cc567a1361ba17617927c47a803418\" tg-width=\"640\" tg-height=\"476\" referrerpolicy=\"no-referrer\">Street's mean price target. Source: TIKR</p>\n<p>Moreover, the Street is also not optimistic on MRNA making meaningful headway from here, and in fact, values the stock at about a 5.2x implied EV / Fwd Rev multiple, at a 35% discount from the last closing price. Analysts from <a href=\"https://laohu8.com/S/OPY\">Oppenheimer</a> also emphasized that \"MRNA sharesare fairly pricing a tremendous amount of future recurring revenues and pipeline progress...[arguing] that the company’s non-COVID pipeline remains 2-3 years away from reaching commercial success.\"</p>\n<p>Our opinion is in line with the Street, and we think that a lot of optimism is currently being priced into Moderna at the moment. So we think if investors are sitting on decent profits right now, we strongly encourage you to at least take partial profits and take some risk off the table.</p>\n<p>Price Action and Trend Analysis<img src=\"https://static.tigerbbs.com/766a37b6357b74ea899bd0e823ff64a2\" tg-width=\"640\" tg-height=\"391\" referrerpolicy=\"no-referrer\">Source: TradingView</p>\n<p>While we are clear about MRNA's long-term uptrend bias (which is why we don't recommend a short-sell strategy against stocks with clear uptrend bias), we also think the stock's price action has recently shown signs of a climax top pattern.</p>\n<p>However, it's impossible to speculate exactly where the top is. Therefore, we think it's prudent for investors to take some profits off the table and wait for the euphoria to chill and cool down before considering adding exposure to MRNA again.</p>\n<p>We have already taken the opportunity of the stock's recent strength to lock in 50% of our profit on MRNA, with a view of locking in even more if we continue to see price action that shows a higher climax top tendency moving forward.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Moderna Is A Winner In COVID-19 Vaccines, But What's Next?</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\">\nModerna Is A Winner In COVID-19 Vaccines, But What's Next?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-10 14:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4447049-moderna-what-is-next-beyond-covid-vaccine-win><strong>seeking alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investment Thesis\nModerna (MRNA) and Novavax (NVAX) released their respective Q2 earnings one after the other, with Moderna indicating encouraging progress in its mRNA vaccine programs along with its ...</p>\n\n<a href=\"https://seekingalpha.com/article/4447049-moderna-what-is-next-beyond-covid-vaccine-win\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc."},"source_url":"https://seekingalpha.com/article/4447049-moderna-what-is-next-beyond-covid-vaccine-win","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109397612","content_text":"Investment Thesis\nModerna (MRNA) and Novavax (NVAX) released their respective Q2 earnings one after the other, with Moderna indicating encouraging progress in its mRNA vaccine programs along with its COVID-19 vaccine production ramp. At the same time, Novavax surprised the market with its delay in filing for emergency use authorization ((EUA)) with the US government ((USG)).\nModerna has continued to make excellent momentum as the company took full advantage of a highly successful COVID-19 vaccine program to develop the other vaccines in other therapeutic areas to future-proof its revenue sustainability, as the world gradually moves on to a world where COVID-19 is endemic.\nThis article provides a timely update for our readers to decide whether Moderna is still a good investment given the recent run-up that we think has resulted in a high amount of optimism being baked into its price.\nQ2 Earnings Recap\nModerna quarterly revenue surprise. Source: Seeking Alpha Premium\nModerna quarterly EPS surprise. Source: Seeking Alpha Premium\nModerna reported a solid Q2 report card, keeping in line with the momentum from Q1, as the company posted revenue of $4.354B and EPS of $6.46, which were 10.3% and 2.8% above the consensus estimates.\nModerna H1'21 revenue and FY21 consensus estimate. Data source: S&P Capital IQ\nImportantly, Moderna posted a highly impressive QoQ increase of 125% in revenue from $1.94B in Q1'21 to $4.35B in Q2'21. However, Moderna would need to significantly ramp up in H2'21 for the company to meet the Street's FY21 estimates as H1'21's revenue of $6.29B accounted for only 31.2% of the FY21 consensus estimates.\nTo that, Moderna has assured investors that based on the company's signed advanced purchase agreements ((APA)) for FY21, Moderna indicated that \"expected delivery in 2021reflect the current full-year total of approximately $20 billion in anticipated product sales.\" The company continues to anticipate a supply of at least 800M to 1B doses for 2021.\nStudying Moderna's Gross Margins and Pricing Strategy\nModerna quarterly gross margin. Data source: S&P Capital IQ\nThe production ramp in Q2'21 has also improved Moderna's economies of scale as its gross margin improved markedly in Q2'21, as Moderna's total cost of revenue represents about 26.9% of Q2'21 revenue.\nCrucially, Moderna has indicated that its COVID-19H1'21's product salesof $5.93B which constitute about 94.3% of H1'21's total revenue, has a much lower cost of revenue. Based on our findings, Moderna's COVID-19 product sales have a cost of revenue of $1.1B, representing about 18.5% of H1'21's COVID-19 product revenue, therefore indicating that the average gross margin for its COVID-19 product is about 81.5%. The company has also emphasized that it \"expects the average cost total of sales as a percent of product sales to be between 18% and 20% compared to our previous outlook of approximately 20% of product sales. This reflects the successful ramp-up of this global manufacturing network.\"\nSince Moderna delivered 199M doses in Q2'21 and 102M doses in Q1'21, the company delivered a collective amount of 301M doses in H1'21 that was recognized as product revenue. Given that our cost of revenue is about $1.1B for H1'21, we could thus derive an average cost per dose of about $3.65, which the company has highlighted that it expects to maintain for the rest of 2021.\nBefore we carry on, Moderna has highlighted that the cost of sales that the company reflected in H1'21 of $943M included their \"zero-cost COVID-19 inventory,\" as the company emphasized: \"At the end of the first quarter of 2021, we had substantially utilized our zero-cost COVID-19 vaccine inventory. Therefore, if inventory sold for the six months ended June 30, 2021, were valued at cost, our cost of sales for the period would have been $1.1 billion.\" Therefore, based on our computation above, we believe it's important to reflect the cost of sales more accurately, which the company also corroborates in their earnings call.\nModerna Spikevax pricing tiers. Data source: Moderna\nModerna adopts a tiered pricing model to distribute its vaccines equitably. For the USG, the company has applied a \"favorable\" pricing model because of the US government's funding as well as the 500M doses order that the USG committed to Moderna, which the company emphasized, \"is very large.\"\nThe other higher-income countries paid between $32 and $37, including larger orders from countries that include the EU with an APA of260M dosesfor 2021. Thus, applying Moderna's large contract discount logic, we should expect the average EU pricing to be at the lower end of the $32 to $37 range.\nFor the lower to middle-income countries, even though the company did not explicitly disclose the exact price range, the company highlighted that this category \"received the lowest-tiered pricing, including those sales to COVAX, which are considerably lower than the price to the U.S. government.\"\nFor Moderna, we could easily derive its average price at about $19.7 ($5.93B/301M) per dose for H1'21, even though the company has emphasized that it's likely to be reduced moving into 2022 as they ramp the production for delivery to COVAX as well as the lower and middle-income countries, especially since the COVAX APA is set to increase from 34M doses in 2021 to 117M doses in 2022, with an option to increase up to 350M doses.\nCOVAX reported an average price of about$5.20 per dose; thus, it would be useful for investors to continue monitoring the impact on the average price for mRNA-1273 moving forward. Moderna has also indicated that it is expecting more price competition as we move from a pandemic towards a world where COVID-19 is endemic. In addition, it may also be useful to watch closely for further improvement in its economies of scale as the company ramps production from an estimated 800M to 1B doses in 2021 to 2B to 3B doses in 2022.\nModerna's Strategy Moving Forward\nShare of the population fully vaccinated against COVID-19. Source: OWID\nIt's straightforward that Moderna has ramped production significantly to compete for the next phase in COVID-19 distribution for its mRNA-1273 product for countries within the COVAX category in 2022 and 2023 as the high-income countries are starting to approach the 60% to 70% fully vaccinated mark. However, we could clearly glean from the chart above where only 15% of the total world population has been fully vaccinated, while countries like Indonesia and India have only 8% and 7.8% of their population fully inoculated, and South America's 20.9% still has a long way to go as well.\nMoving forward, the strategy for the high-income countries is starting to move towards booster shots. We think this is where Moderna, as one of the 2 mRNA vaccines makers, has sufficiently proven its worth against Pfizer-BioNTech as the company's recent COVE study demonstrated that mRNA-1273 could maintain the efficacy of 93.2%, 4 to 6 months after the second dose, and a 98.2% efficacy against severe disease, as well as a 100% efficacy against death caused by COVID-19. As compared to Pfizer-BioNTech's vaccine, where the efficacy is expected to drop to84%after 6 months, we would clearly applaud the breathtaking results that clearly demonstrate the superiority of Moderna's Spikevax against Comirnaty.\nTo this Moderna Co-founder and Chairman Dr. Noubar Afeyan clearly articulated who he thinks owns the superior mRNA technology for COVID-19 vaccine in the market (shout-out to Pfizer-BioNTech folks):\n\n We set outto develop the most effective vaccine against this virus that would last for the longest possible time, [helping] the largest number of people to be safe...And this is the first time we had data that at least showed that six months after the initial vaccinations were seeing essentially the same level of protection, which is very encouraging.\n\nModerna also emphasized that we should never underestimate the efficacy differences as just plain numbers, which in Moderna's and Pfizer-BioNTech's case amounted to 9.2% points. The company emphasized that:\n\n The relative strength of the different vaccines suggested that small differences in efficacy would start to emerge to be larger differences in efficacy at about 200, 250 days as neutralizing antibody titers waned. And that may be what we're starting to see. And if you play that forward, if you assume [Professor Davenport of the University of New South Wales, Australia] been right about those predictions, then that picture continues and continues through a year with continued declining neutralizing antibody titers over that time. And eventually, we therefore believe, a real increase in breakthrough infections and disease even with vaccinated participants, even with mRNA-1273.\n\nModerna has also presented clear findings where it expects that a booster shot would significantly increase the neutralizing titers. In contrast, without the booster, for test subjects 6 to 8 months after their second dose, the neutralizing titers have dropped so significantly that for the Beta, Gamma and Delta variants, the \"neutralizing titers had fallen below the detectable -- the level of detection of the assay for a decent number of participants in all 4 -- all 3 cases.\"\nAs a result, we expect Moderna has strongly assembled the case for a booster with strong evidence suggesting their importance to protect against the new potential variants that may emerge, which Moderna has certainly warned: \"...It seems logical to us that those 3 mutations present in the Beta, Gamma line and those 2 mutations present in the Delta might find some way to combine in new and potentially scary ways. And if that came with the increased transmissibility, [the] force of infection that Delta can achieve, that might be a significant threat. And so we view our multivalent platform as the best place for us to try and anticipate that threat.\"\nThe company is developing a \"proactive\" multivalent platform where it combines \"different variants into a single vaccine\" as its strategy to combat potential variants that are expected to emerge. Based on the company's assays study, this platform clearly outperformed the other candidates in its study. In addition, it stood out as a strong candidate to be used as a booster option, even though the primary mRNA-1273 candidate can also be used effectively as a booster.\nHowever, in a fast-evolving situation with COVID-19, we think having more efficacious options are only going to be beneficial as vaccine makers try to anticipate and are proactive against potential new and more potent antigens where Moderna even admitted that the Delta variant had humbled them, as it added: \"I think the Delta variant has taught us to also be incredibly humble in the face of the virus' ability to fight back and increase its transmission. I mean, I think most of us would have thought SARS-CoV-2 was a pretty good infector earlier this year. Delta has shown us that it can make huge steps forward.\"\nRisks to our Thesis\nBy now, it should be clear that 2022 is promising to be a year where Moderna would almost double or triple its supply to 2B or 3B doses, depending on whether the company is using 100 micrograms or 50 micrograms in its product moving forward. Pfizer-BioNTech is also expected to increase its capacity to 3B doses in 2022, while we also need to take into account Novavax's impending entry into the COVID-19 vaccines production game, as well as the Chinese vaccine makers who already have an annual capacity of 5B doses.\nWe think there is a realistic chance where Moderna may be facing an over-supply situation even though it may have proven itself to be the superior mRNA vaccine for now against Pfizer-BioNTech.\nRevenue forecast mean consensus. Data source: S&P Capital IQ\nTherefore, we think the Street has prudently lowered its revenue estimates for Moderna over the next few years. The company is also likely to come under pricing pressure against the huge supply expected to come online.\nHowever, we think Moderna is keenly aware of it. The company clearly highlighted that they had made good progress in the other 5 therapeutic areas that the company is involved in. Of notable mention is the fast track designation the company recently received from the US FDA for the company'sRSV vaccine candidate, mRNA-1345, especially when there is no approved RSV vaccine yet in the market.\nIn addition, the company has also commenced on the Phase I/II study of its mRNA-1010 quadrivalent seasonal flu vaccine to target the seasonal flu market, where it's worth about $5B to $6B annually, according to Moderna's estimates, especially when the current flu vaccine efficacy is between 40% and 60% according toCDC data. Moderna expects its quadrivalent vaccine to be launched as early as 2023.\nModerna is also expecting good results from its CMV vaccine, which is expected to be entering Phase III trials soon. It would also allow the company to tap into a market worth between $2B and $5B annually.\nHence, we think that the company has been proactively working on the success of its mRNA-1273 to progress confidently along the other programs to sustain its commercial success beyond just being a COVID-19 vaccine maker. Therefore, we encourage investors to monitor its most advanced programs closely and keep pace with them moving forward.\nValuations\nBiotech peers valuation comp set. Source: TIKR\nEV / Fwd Rev trend. Data source: S&P Capital IQ\nModerna is currently trading at an EV / Fwd Rev of about 8x, which interestingly comes in below its peers' mean multiple of 14.14x, where Moderna may look to be attractively valued. However, this assumes that Moderna can keep increasing its revenue strongly over the next few years, a point that we have raised previously may face significant headwinds ahead.\nImportantly, we could see that based on the company's expected revenue moving forward, the company is not likely to see meaningful progress on its capital appreciation potential moving forward as its revenue multiple by the end of FY25 is expected to be about 14.6x, which is in line with the peers' mean multiple right now.\nStreet's mean price target. Source: TIKR\nMoreover, the Street is also not optimistic on MRNA making meaningful headway from here, and in fact, values the stock at about a 5.2x implied EV / Fwd Rev multiple, at a 35% discount from the last closing price. Analysts from Oppenheimer also emphasized that \"MRNA sharesare fairly pricing a tremendous amount of future recurring revenues and pipeline progress...[arguing] that the company’s non-COVID pipeline remains 2-3 years away from reaching commercial success.\"\nOur opinion is in line with the Street, and we think that a lot of optimism is currently being priced into Moderna at the moment. So we think if investors are sitting on decent profits right now, we strongly encourage you to at least take partial profits and take some risk off the table.\nPrice Action and Trend AnalysisSource: TradingView\nWhile we are clear about MRNA's long-term uptrend bias (which is why we don't recommend a short-sell strategy against stocks with clear uptrend bias), we also think the stock's price action has recently shown signs of a climax top pattern.\nHowever, it's impossible to speculate exactly where the top is. Therefore, we think it's prudent for investors to take some profits off the table and wait for the euphoria to chill and cool down before considering adding exposure to MRNA again.\nWe have already taken the opportunity of the stock's recent strength to lock in 50% of our profit on MRNA, with a view of locking in even more if we continue to see price action that shows a higher climax top tendency moving forward.","news_type":1},"isVote":1,"tweetType":1,"viewCount":795,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":185810659,"gmtCreate":1623640491671,"gmtModify":1634030784961,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"Yeahs&nbsp;","listText":"Yeahs&nbsp;","text":"Yeahs","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185810659","repostId":"1146011836","repostType":4,"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183307078,"gmtCreate":1623305013594,"gmtModify":1634034750834,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"OK&nbsp;","listText":"OK&nbsp;","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183307078","repostId":"2142241696","repostType":4,"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154788047,"gmtCreate":1625545705189,"gmtModify":1633939774888,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;","listText":"[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;","text":"[得意] [得意] [得意] [得意] [得意] [得意]","images":[{"img":"https://static.tigerbbs.com/33e6ebf95ecbd05169befe8dd0a49dfc","width":"1080","height":"2986"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154788047","isVote":1,"tweetType":1,"viewCount":594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":154097783,"gmtCreate":1625458856542,"gmtModify":1633940477619,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷] [财迷]","images":[{"img":"https://static.tigerbbs.com/948a8e698190db45252b8d02957eab54","width":"1080","height":"3085"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154097783","isVote":1,"tweetType":1,"viewCount":829,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":125987189,"gmtCreate":1624641522741,"gmtModify":1633950131304,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"😅😅😅😅😅😅😅","listText":"😅😅😅😅😅😅😅","text":"😅😅😅😅😅😅😅","images":[{"img":"https://static.tigerbbs.com/cf2d2d06c681ed071c837b2c6ded149c","width":"1080","height":"2986"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125987189","isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":125984944,"gmtCreate":1624641478088,"gmtModify":1633950131978,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"🌈🌈🌈","listText":"🌈🌈🌈","text":"🌈🌈🌈","images":[{"img":"https://static.tigerbbs.com/9bfd66d7434fdadbc3299e41df064612","width":"1080","height":"2986"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125984944","isVote":1,"tweetType":1,"viewCount":346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":125988755,"gmtCreate":1624641326877,"gmtModify":1633950133419,"author":{"id":"3564622621302285","authorId":"3564622621302285","name":"bluzon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564622621302285","authorIdStr":"3564622621302285"},"themes":[],"htmlText":"☺","listText":"☺","text":"☺","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125988755","repostId":"2146079086","repostType":4,"repost":{"id":"2146079086","pubTimestamp":1624634220,"share":"https://www.laohu8.com/m/news/2146079086?lang=&edition=full","pubTime":"2021-06-25 23:17","market":"us","language":"en","title":"It's Not Too Late to Take Advantage of NVIDIA's Stock Split. Here's Why","url":"https://stock-news.laohu8.com/highlight/detail?id=2146079086","media":"Motley Fool","summary":"There's an unusual component to this stock split investors need to understand.","content":"<p>Most stock splits are pretty straightforward affairs. A company announces a stock split and advises investors of how many additional shares they will receive, the record date of the transaction, and when the new shares will be distributed.</p>\n<p>In many ways, the upcoming stock split for <b>NVIDIA</b> (NASDAQ:NVDA) is no different. In conjunction with its fiscal 2022 first-quarter earnings report (ended May 2, 2021), the chipmaker announced that its board of directors declared a four-for-<a href=\"https://laohu8.com/S/AONE\">one</a> stock split, payable in the form of a stock dividend. This move was conditional on NVIDIA stockholders voting to approve to increase the number of authorized shares from 2 billion to 4 billion.</p>\n<p>Due to a quirk in this particular case (more on that in a minute), while it <i>appears</i> investors have already missed the opportunity to take advantage of the NVIDIA stock split, that simply isn't the case.</p>\n<p><img src=\"https://static.tigerbbs.com/10b74b78ba82e9df1e981738dfafe1bc\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>The devil's in the details</h3>\n<p>At the company's 2021 annual meeting of stockholders, which was held on June 3, shareholders approved the measure to increase the number of outstanding shares, setting the stage for the stock split to move forward. Each shareholder of record <i>as of June 21</i> will receive three additional shares of NVIDIA stock for each <a href=\"https://laohu8.com/S/AONE.U\">one</a> they own, which will be distributed after the market close on July 19. The stock will start trading on a split-adjusted basis when the market opens on Tuesday, July 20.</p>\n<p>To give some context to the numbers, here's an example of how it will work, though the final numbers will vary based on the then-current stock price. For each share of NVIDIA stock that an investor holds -- currently worth roughly $760 -- post-split, shareholders would own a total of four shares priced at $190 each.</p>\n<h3>The odd quirk</h3>\n<p>What sets NVIDIA's stock split apart from many others is the extraordinary length of time between the record date and the distribution date of the new, split shares. The record date is the date by which investors must own the stock in order to be eligible to receive additional shares created by the stock split, which occurs on the effective date. Typically, there are just a few days between the two.</p>\n<p>For example, in the recent 10-for-one stock split initiated by <b>The Trade Desk</b> (NASDAQ:TTD), shareholders of record as of June 9, 2021 received nine additional shares of stock, which were distributed after the close of trading on June 16, 2021 -- or a period of about a week after the record date. This was very similar to a couple of high-profile stock splits that happened late last year. <b>Apple</b> (NASDAQ:AAPL) and <b>Tesla</b> (NASDAQ:TSLA) each split their shares in August, with record dates of Aug. 24 and Aug. 21, respectively, and both stocks began trading split-adjusted&nbsp;on Aug. 31.</p>\n<p>In the case of NVIDIA, however, the period between the two is a whopping four weeks long. So what happens to investors who buy between the record date and the effective date? Are they left holding the bag?</p>\n<p><img src=\"https://static.tigerbbs.com/97eae1602703c6cf3c0c5c986a02e099\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>The good news</h3>\n<p>What's missing from NVIDIA's press release is the ex-dividend date. Because the stock split is being initiated in the form of a stock dividend, the ex-dividend date governs which investors are eligible to receive the newly split shares. In this case, NVIDIA's stock split goes ex-dividend on July 19, according to a spokesperson for brokerage house <b>Charles Schwab</b>.</p>\n<p>This means that investors can buy NVIDIA shares right up to July 19, and still be eligible to receive the additional shares from the stock split once the shares begin trading on a split-adjusted basis when the market opens July 20.</p>\n<p>It's also important to point out that this stock split doesn't do anything to change the underlying value of NVIDIA as a company -- it merely cleaves it into a greater number of ownership segments. There are plenty of reasons to be bullish and invest in NVIDIA, but investors shouldn't buy the stock based <i>solely</i> on the upcoming stock split.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It's Not Too Late to Take Advantage of NVIDIA's Stock Split. Here's Why</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's Not Too Late to Take Advantage of NVIDIA's Stock Split. Here's Why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 23:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/25/not-too-late-take-advantage-nvidias-stock-split/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Most stock splits are pretty straightforward affairs. A company announces a stock split and advises investors of how many additional shares they will receive, the record date of the transaction, and ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/25/not-too-late-take-advantage-nvidias-stock-split/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09086":"华夏纳指-U","NVDA":"英伟达","03086":"华夏纳指"},"source_url":"https://www.fool.com/investing/2021/06/25/not-too-late-take-advantage-nvidias-stock-split/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146079086","content_text":"Most stock splits are pretty straightforward affairs. A company announces a stock split and advises investors of how many additional shares they will receive, the record date of the transaction, and when the new shares will be distributed.\nIn many ways, the upcoming stock split for NVIDIA (NASDAQ:NVDA) is no different. In conjunction with its fiscal 2022 first-quarter earnings report (ended May 2, 2021), the chipmaker announced that its board of directors declared a four-for-one stock split, payable in the form of a stock dividend. This move was conditional on NVIDIA stockholders voting to approve to increase the number of authorized shares from 2 billion to 4 billion.\nDue to a quirk in this particular case (more on that in a minute), while it appears investors have already missed the opportunity to take advantage of the NVIDIA stock split, that simply isn't the case.\n\nImage source: Getty Images.\nThe devil's in the details\nAt the company's 2021 annual meeting of stockholders, which was held on June 3, shareholders approved the measure to increase the number of outstanding shares, setting the stage for the stock split to move forward. Each shareholder of record as of June 21 will receive three additional shares of NVIDIA stock for each one they own, which will be distributed after the market close on July 19. The stock will start trading on a split-adjusted basis when the market opens on Tuesday, July 20.\nTo give some context to the numbers, here's an example of how it will work, though the final numbers will vary based on the then-current stock price. For each share of NVIDIA stock that an investor holds -- currently worth roughly $760 -- post-split, shareholders would own a total of four shares priced at $190 each.\nThe odd quirk\nWhat sets NVIDIA's stock split apart from many others is the extraordinary length of time between the record date and the distribution date of the new, split shares. The record date is the date by which investors must own the stock in order to be eligible to receive additional shares created by the stock split, which occurs on the effective date. Typically, there are just a few days between the two.\nFor example, in the recent 10-for-one stock split initiated by The Trade Desk (NASDAQ:TTD), shareholders of record as of June 9, 2021 received nine additional shares of stock, which were distributed after the close of trading on June 16, 2021 -- or a period of about a week after the record date. This was very similar to a couple of high-profile stock splits that happened late last year. Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) each split their shares in August, with record dates of Aug. 24 and Aug. 21, respectively, and both stocks began trading split-adjusted on Aug. 31.\nIn the case of NVIDIA, however, the period between the two is a whopping four weeks long. So what happens to investors who buy between the record date and the effective date? Are they left holding the bag?\n\nImage source: Getty Images.\nThe good news\nWhat's missing from NVIDIA's press release is the ex-dividend date. Because the stock split is being initiated in the form of a stock dividend, the ex-dividend date governs which investors are eligible to receive the newly split shares. In this case, NVIDIA's stock split goes ex-dividend on July 19, according to a spokesperson for brokerage house Charles Schwab.\nThis means that investors can buy NVIDIA shares right up to July 19, and still be eligible to receive the additional shares from the stock split once the shares begin trading on a split-adjusted basis when the market opens July 20.\nIt's also important to point out that this stock split doesn't do anything to change the underlying value of NVIDIA as a company -- it merely cleaves it into a greater number of ownership segments. There are plenty of reasons to be bullish and invest in NVIDIA, but investors shouldn't buy the stock based solely on the upcoming stock split.","news_type":1},"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}