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2021-09-29

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2021-06-25

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5 things to know before the stock market opens Friday

2021-06-24

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Bank Of America: No. 1 Pick For An Inflation Hedge And CCAR Winner

2021-06-23

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2021-06-23

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Barclays chief stock strategist says Covid recovery trade is over, go back into Big Tech

2021-06-23

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2021-06-23

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2021-06-21

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2021-06-21

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Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines

2021-06-19

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2021-06-19

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2021-06-18

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2021-06-18

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20:15","market":"us","language":"en","title":"5 things to know before the stock market opens Friday","url":"https://stock-news.laohu8.com/highlight/detail?id=1105168683","media":"cnbc","summary":"Here are the most important news, trends and analysis that investors need to start their trading day","content":"<div>\n<p>Here are the most important news, trends and analysis that investors need to start their trading day:\n\nWall Street headed for its best week in months\nFed’s favorite inflation indicator set for release...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/25/5-things-to-know-before-the-stock-market-opens-friday-june-25.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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\" 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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\">\n5 things to know before the stock market opens Friday\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 20:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/25/5-things-to-know-before-the-stock-market-opens-friday-june-25.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Here are the most important news, trends and analysis that investors need to start their trading day:\n\nWall Street headed for its best week in months\nFed’s favorite inflation indicator set for release...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/25/5-things-to-know-before-the-stock-market-opens-friday-june-25.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/06/25/5-things-to-know-before-the-stock-market-opens-friday-june-25.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1105168683","content_text":"Here are the most important news, trends and analysis that investors need to start their trading day:\n\nWall Street headed for its best week in months\nFed’s favorite inflation indicator set for release\nInfrastructure compromise includes $579 billion in new spending\nSearch continues for survivors in Florida building collapse\nChauvin could face decadeslong sentence in Floyd’s death\n\n1. Wall Street headed for its best week in months\nU.S. stock futuresrose Friday, one day after theS&P 500andNasdaqclosed at record highs, boosted by PresidentJoe Bidenreaching an infrastructure deal with a bipartisan group of senators. TheDowalso rallied Thursday,adding 322 points, or almost 1%, heading for its best weekly gain since March. The 30-stock average, after last week’s worst weekly decline in since October, stands about 1.6% away from its record close in early May. The S&P 500 and Nasdaq were tracking for their best weeks since April.\n\nDow stockNikesoared 13% in the premarket, set to open at an all-time. The athletic shoe and apparel giant late Thursdayhandily beat estimateswith quarterly earnings and revenue. Nike saw a 73% increase in direct sales through its apps and websites. Nike’s stock pop accounts for much of the rise in Dow futures.\nVirgin Galactic jumped 14% after getting thegreen light from the FAAto fly passengers to space. “The commercial license that we have had in place since 2016 remains in place, but is now cleared to allow us to carry commercial passengers when we’re ready to do so,” Virgin Galactic CEO Michael Colglazier told CNBC.\n\n2. Fed’s favorite inflation indicator set for release\nThe10-year Treasury yieldticked higher Friday,trading just under 1.5%, ahead of the 8:30 a.m. ET release of theFederal Reserve’s favorite inflation indicator. Economists expect the government’score personal consumption expenditures indexin May to rise 3.4% year over year and 0.6% month over month. At the same time, May personal income and spending figures are seen declining 2.7% and rising 0.4%, respectively. Income plunged 13.1% in April on the absence of the prior month’s Covid stimulus checks. Spending in April rose 0.5%.\n3. Infrastructure compromise includes $579 billion in new spending\nThe bipartisan infrastructure compromise includes$579 billion in new spending, with $312 billion of those funds going to transportation projects such as roads and bridges. The plan also puts $266 billion into nontransportation infrastructure, including power, water and broadband internet improvements. Only $15 billion goes to electric vehicle infrastructure and electric buses and transit, a fraction of what Biden first proposed. How they’re going to pay for all this remains under discussion. Democratic leaders on Capitol want to pass the bipartisan framework along with a larger bill to addresses more of their priorities without Republican votes.\n4. Search continues for survivors in Florida building collapse\nBiden has promised to provide federal aid, if requested, in the search for survivors of a partial beachfront condo building collapse outside Miami. At least one person was killed andnearly 100 people were still unaccounted for. Officials did not know how many people were in the tower when it fell early Thursday morning, around 1:30 a.m. ET, in Surfside. Florida Gov. Ron DeSantis, who toured the scene, said rescue crews are “doing everything they can to save lives. That is ongoing, and they’re not going to rest.” Authorities did not say what may have caused the collapse.\n5. Chauvin could face decadeslong sentence in Floyd’s death\nFormer Minneapolis police Officer Derek Chauvinwill be sentencedFriday for murder in George Floyd’s death, in a case that sparked global outrage and a reckoning on racial disparities in America. Legal experts predict that Chauvin, 45, could get 20 to 25 years. He was convicted of second-degree unintentional murder, third-degree murder and second-degree manslaughter. While he’s widely expected to appeal, Chauvin also faces trial on federal civil rights charges, along with three other fired officers who have yet to have their state trials.","news_type":1},"isVote":1,"tweetType":1,"viewCount":126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128418850,"gmtCreate":1624527244270,"gmtModify":1631891377896,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/128418850","repostId":"1166720474","repostType":4,"repost":{"id":"1166720474","pubTimestamp":1624523507,"share":"https://www.laohu8.com/m/news/1166720474?lang=&edition=full","pubTime":"2021-06-24 16:31","market":"us","language":"en","title":"Bank Of America: No. 1 Pick For An Inflation Hedge And CCAR Winner","url":"https://stock-news.laohu8.com/highlight/detail?id=1166720474","media":"seekingalpha","summary":"Summary\n\nIn recent months, I have been advocating buying Bank of America when interest rates are low","content":"<p><b>Summary</b></p>\n<ul>\n <li>In recent months, I have been advocating buying Bank of America when interest rates are low.</li>\n <li>The Fed is finally explicitly acknowledging inflation risks.</li>\n <li>I am taking advantage of recent dip in the share price of banks.</li>\n <li>The release of the CCAR stress tests should be a positive catalyst for BAC given substantial excess capital on its balance sheet.</li>\n <li>I have turned \"very bullish\" and have been accumulating the stock in recent days.</li>\n</ul>\n<p>The Fed is acknowledging inflation risks. It is now time to 'think about thinking about' tapering bond purchases. The \"dot points\" by the FOMC participants suggest that the Fed overnight rate may rise as early as 2022 (see below chart):</p>\n<p>The markets reacted somewhat strangely to the Fed's repositioning on inflation risks. Short-term interest rates rose whereby long treasuries' yield declined strongly, and therefore resulting in a flattening of the yield curve.</p>\n<p>When the curve flattens, the algorithmic selling of banks gets triggered - I do not mind at all, as I get to buy the dips on the likes of Citigroup (C) and Barclays (BCS).</p>\n<p>The conventional wisdom is that the Fed is looking to rein in inflation by raising rates earlier than expected and therefore a 'mini rotation' away from cyclicals to growth has taken place. Chairman Powell furtherreiterated this weekthe Fed's accommodative stance and noted that the FOMC's dot-point projections should be taken with \"a large grain of salt\".</p>\n<p>My base view is that moderate inflation (unlike the one we have seen in the 1970s) is on the cards and that is what is being engineered by the Fed. The global economy desperately needs inflation due to the massive amount of debt issued by governments in recent years. The only way to get out of the predicament we are in is to slowly (but surely) demonetize the debt. At the same time, the world economy cannot really afford high nominal interest rates or otherwise let inflation get completely out of control.</p>\n<p>So in the next few years, I expect moderately higher short-term interest rates, some form of yield curve control, and a steepening yield curve (especially at the long end). And this is quite a positive environment for financials and especially so for Bank of America (BAC).</p>\n<p><b>The most interest rates sensitive bank</b></p>\n<p>BAC is one of the most interest-sensitive banks in North America. This can be clearly seen in its most recent disclosure in theQ1'2021 10-Q:</p>\n<p><img src=\"https://static.tigerbbs.com/ec53741ffe4bdcf3ba47e66278a8ff79\" tg-width=\"640\" tg-height=\"420\" referrerpolicy=\"no-referrer\"></p>\n<p>As you can see from above, BAC is projected to benefit by an incremental $8.3 billion of pre-tax income where a parallel shift in interest rates of 100 basis points takes place. Most of the benefit, however, is in the short end (~$6.3 billion).</p>\n<p>It is important to note that the above projection is static (assuming instantaneous movement in interest rates) and does not take into account management actions. You can see, for example, the reduced sensitivity at the long end compared with 31 December disclosures. It appears that during Q1'2021, BAC has taken advantage of higher long-term yields and extended the duration of its securities portfolio.</p>\n<p><b>What is driving BAC interest rate sensitivity?</b></p>\n<p>BAC is a deposit-gathering monster with greater than $1.8T balances as ofQ1'2021.</p>\n<p>These deposits are typically very sticky and cut across the retail mass market, high-net-worth individuals, small businesses, and large corporates.</p>\n<p>Currently, with 0% overnight interest rates and the 10-year Treasury yielding less than 1.5%, the returns on this amazing deposit franchise are at a cyclical bottom.</p>\n<p>You can think of banks, in that context, as commodity producers. The commodity they are selling is \"interest rates\" and BAC is the lowest cost producer by far with ample capacity. The operating leverage built-in in this business model, when and if interest rates rise, is nothing short of exceptional.</p>\n<p>If you believe the forecast of the FOMC members for longer-term overnight rates of 2.5% (and naturally longer-term rates will be higher), then the incremental pre-tax income for BAC should be well in excess of $20 billion. To recap, BAC's current market cap is ~$320 billion, and the return on tangible equity during Q1'2021 has been in excess of 17 percent (even in the current low-interest rate environment). The upside is clear and significant.</p>\n<p><b>A CCAR winner</b></p>\n<p>The Fed is expected to release the results of the 2021 Comprehensive Capital Analysis and Review (CCAR) on Thursday 24th June after market close. CCAR is an annual exercise by the Federal Reserve designed to assess whether the largest banks operating in the United States have sufficient capital to continue operations throughout times of economic and financial stress.</p>\n<p>I expect BAC to pass with flying colours as they have done so in the last few CCAR cycles. After all, BAC has a relatively much lower risk profile compared to peer banks. This is evident from the lastCCAR stress testperformed in December 2020:</p>\n<p><img src=\"https://static.tigerbbs.com/43588f352e781a567b15e73f99313e89\" tg-width=\"640\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<p>As can be seen from above, the drawdown in its capital ratios during a forecasted severely adverse scenario is materially lower than the median.</p>\n<p>As such, I expect BAC to be bound by a requirement to hold a minimum common equity tier 1 (\"CET1\") ratio of 9.5%. Given that its current ratio is 11.8%, it is very clear that BAC has ample capacity to return capital to shareholders in the form of dividends and buybacks.</p>\n<p>Assuming a management buffer of 0.5% to 1.0%, I expect BAC to aim for a CET1 ratio of 10% to 10.5%. On the basis of excess capital and expected earnings for 2021, I expect BAC to return 125% to 150% of its 2021 earnings in the current CCAR cycle.</p>\n<p>This should translate to increased dividends as well as massive buybacks.</p>\n<p><b>Final thoughts</b></p>\n<p>I see BAC as a top stock to own in a moderate inflationary environment. The operating leverage embedded in its business model in a rising rates setting is nothing short of exceptional. It is also a great hedge to a portfolio comprising of defensive assets such as bonds and growth/large technology stocks.</p>\n<p>I have taken advantage of the recent dip in banks' share price and have been adding selectively in my favourite names. I have now turned \"very bullish\" on BAC. I also expect that the release of the CCAR results today will be quite a positive catalyst for banks and especially for BAC given the substantial excess capital on its balance sheet.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank Of America: No. 1 Pick For An Inflation Hedge And CCAR Winner</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\">\nBank Of America: No. 1 Pick For An Inflation Hedge And CCAR Winner\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 16:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436319-bank-of-america-no-1-pick-inflation-hedge-ccar-winner><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nIn recent months, I have been advocating buying Bank of America when interest rates are low.\nThe Fed is finally explicitly acknowledging inflation risks.\nI am taking advantage of recent dip ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436319-bank-of-america-no-1-pick-inflation-hedge-ccar-winner\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行"},"source_url":"https://seekingalpha.com/article/4436319-bank-of-america-no-1-pick-inflation-hedge-ccar-winner","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1166720474","content_text":"Summary\n\nIn recent months, I have been advocating buying Bank of America when interest rates are low.\nThe Fed is finally explicitly acknowledging inflation risks.\nI am taking advantage of recent dip in the share price of banks.\nThe release of the CCAR stress tests should be a positive catalyst for BAC given substantial excess capital on its balance sheet.\nI have turned \"very bullish\" and have been accumulating the stock in recent days.\n\nThe Fed is acknowledging inflation risks. It is now time to 'think about thinking about' tapering bond purchases. The \"dot points\" by the FOMC participants suggest that the Fed overnight rate may rise as early as 2022 (see below chart):\nThe markets reacted somewhat strangely to the Fed's repositioning on inflation risks. Short-term interest rates rose whereby long treasuries' yield declined strongly, and therefore resulting in a flattening of the yield curve.\nWhen the curve flattens, the algorithmic selling of banks gets triggered - I do not mind at all, as I get to buy the dips on the likes of Citigroup (C) and Barclays (BCS).\nThe conventional wisdom is that the Fed is looking to rein in inflation by raising rates earlier than expected and therefore a 'mini rotation' away from cyclicals to growth has taken place. Chairman Powell furtherreiterated this weekthe Fed's accommodative stance and noted that the FOMC's dot-point projections should be taken with \"a large grain of salt\".\nMy base view is that moderate inflation (unlike the one we have seen in the 1970s) is on the cards and that is what is being engineered by the Fed. The global economy desperately needs inflation due to the massive amount of debt issued by governments in recent years. The only way to get out of the predicament we are in is to slowly (but surely) demonetize the debt. At the same time, the world economy cannot really afford high nominal interest rates or otherwise let inflation get completely out of control.\nSo in the next few years, I expect moderately higher short-term interest rates, some form of yield curve control, and a steepening yield curve (especially at the long end). And this is quite a positive environment for financials and especially so for Bank of America (BAC).\nThe most interest rates sensitive bank\nBAC is one of the most interest-sensitive banks in North America. This can be clearly seen in its most recent disclosure in theQ1'2021 10-Q:\n\nAs you can see from above, BAC is projected to benefit by an incremental $8.3 billion of pre-tax income where a parallel shift in interest rates of 100 basis points takes place. Most of the benefit, however, is in the short end (~$6.3 billion).\nIt is important to note that the above projection is static (assuming instantaneous movement in interest rates) and does not take into account management actions. You can see, for example, the reduced sensitivity at the long end compared with 31 December disclosures. It appears that during Q1'2021, BAC has taken advantage of higher long-term yields and extended the duration of its securities portfolio.\nWhat is driving BAC interest rate sensitivity?\nBAC is a deposit-gathering monster with greater than $1.8T balances as ofQ1'2021.\nThese deposits are typically very sticky and cut across the retail mass market, high-net-worth individuals, small businesses, and large corporates.\nCurrently, with 0% overnight interest rates and the 10-year Treasury yielding less than 1.5%, the returns on this amazing deposit franchise are at a cyclical bottom.\nYou can think of banks, in that context, as commodity producers. The commodity they are selling is \"interest rates\" and BAC is the lowest cost producer by far with ample capacity. The operating leverage built-in in this business model, when and if interest rates rise, is nothing short of exceptional.\nIf you believe the forecast of the FOMC members for longer-term overnight rates of 2.5% (and naturally longer-term rates will be higher), then the incremental pre-tax income for BAC should be well in excess of $20 billion. To recap, BAC's current market cap is ~$320 billion, and the return on tangible equity during Q1'2021 has been in excess of 17 percent (even in the current low-interest rate environment). The upside is clear and significant.\nA CCAR winner\nThe Fed is expected to release the results of the 2021 Comprehensive Capital Analysis and Review (CCAR) on Thursday 24th June after market close. CCAR is an annual exercise by the Federal Reserve designed to assess whether the largest banks operating in the United States have sufficient capital to continue operations throughout times of economic and financial stress.\nI expect BAC to pass with flying colours as they have done so in the last few CCAR cycles. After all, BAC has a relatively much lower risk profile compared to peer banks. This is evident from the lastCCAR stress testperformed in December 2020:\n\nAs can be seen from above, the drawdown in its capital ratios during a forecasted severely adverse scenario is materially lower than the median.\nAs such, I expect BAC to be bound by a requirement to hold a minimum common equity tier 1 (\"CET1\") ratio of 9.5%. Given that its current ratio is 11.8%, it is very clear that BAC has ample capacity to return capital to shareholders in the form of dividends and buybacks.\nAssuming a management buffer of 0.5% to 1.0%, I expect BAC to aim for a CET1 ratio of 10% to 10.5%. On the basis of excess capital and expected earnings for 2021, I expect BAC to return 125% to 150% of its 2021 earnings in the current CCAR cycle.\nThis should translate to increased dividends as well as massive buybacks.\nFinal thoughts\nI see BAC as a top stock to own in a moderate inflationary environment. The operating leverage embedded in its business model in a rising rates setting is nothing short of exceptional. It is also a great hedge to a portfolio comprising of defensive assets such as bonds and growth/large technology stocks.\nI have taken advantage of the recent dip in banks' share price and have been adding selectively in my favourite names. I have now turned \"very bullish\" on BAC. I also expect that the release of the CCAR results today will be quite a positive catalyst for banks and especially for BAC given the substantial excess capital on its balance sheet.","news_type":1},"isVote":1,"tweetType":1,"viewCount":145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123331014,"gmtCreate":1624408551238,"gmtModify":1631891377901,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Haha","listText":"Haha","text":"Haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123331014","repostId":"2145664330","repostType":4,"isVote":1,"tweetType":1,"viewCount":76,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123945662,"gmtCreate":1624407543656,"gmtModify":1631891377909,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Qqq","listText":"Qqq","text":"Qqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123945662","repostId":"1168688117","repostType":4,"repost":{"id":"1168688117","pubTimestamp":1624404535,"share":"https://www.laohu8.com/m/news/1168688117?lang=&edition=full","pubTime":"2021-06-23 07:28","market":"us","language":"en","title":"Barclays chief stock strategist says Covid recovery trade is over, go back into Big Tech","url":"https://stock-news.laohu8.com/highlight/detail?id=1168688117","media":"CNBC","summary":"The pandemic recovery trade has run its course, and now it’s time to get back into Big Tech stocks, ","content":"<div>\n<p>The pandemic recovery trade has run its course, and now it’s time to get back into Big Tech stocks, one market strategist told clients Tuesday.\n“We believe market leadership is likely to change from ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/22/stocks-barclays-strategist-says-go-back-into-big-tech.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Barclays chief stock strategist says Covid recovery trade is over, go back into Big Tech</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\">\nBarclays chief stock strategist says Covid recovery trade is over, go back into Big Tech\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 07:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/22/stocks-barclays-strategist-says-go-back-into-big-tech.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The pandemic recovery trade has run its course, and now it’s time to get back into Big Tech stocks, one market strategist told clients Tuesday.\n“We believe market leadership is likely to change from ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/22/stocks-barclays-strategist-says-go-back-into-big-tech.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","MSFT":"微软","NFLX":"奈飞","AAPL":"苹果","AMZN":"亚马逊"},"source_url":"https://www.cnbc.com/2021/06/22/stocks-barclays-strategist-says-go-back-into-big-tech.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1168688117","content_text":"The pandemic recovery trade has run its course, and now it’s time to get back into Big Tech stocks, one market strategist told clients Tuesday.\n“We believe market leadership is likely to change from cyclical to secular growth stocks as the Covid recovery trade has mostly run its course. Secular growth stocks look favorably positioned to benefit from the digital transformation that got accelerated during Covid,” Barclays head of U.S. equity strategy Maneesh Deshpandesaid in a note.\nValue and cyclical stocks shone in 2021, as investors turned to names that perform well in a recovering economy. But the growth theme is back in vogue as investors worry that much of the pandemic rebound has already been priced into those recovery names.\n“Following positive news on the vaccine front in November 2020, as the path to a cyclical economic recovery in 2021 became clearer, there was a rotation that began away from stocks with positive exposure to COVID-19 and into stocks with negative exposure to it,” Deshpande said. “We think this rotation is now complete.”\nGrowth stocks are shares of companies that are expected to grow at a faster rate than the rest of the market. In particular, secular growth stocks follow a longer-term trend and are less influenced by the overall economy.\nAccording to Barclays, technology names are particularly well-positioned for the moment due to an acceleration of digital transformation during the pandemic. Tech stocks stand to benefit from the growth of e-commerce marketplaces, digital advertising, work-from-home technology and cloud infrastructure, the bank said.\nBarclays is bullish on FANMAG stocks — a group of mega-cap tech names including Facebook,Amazon,Netflix,Microsoft,Appleand Google-parentAlphabet. What’s more, the bank believes these Big Tech names are relatively cheap now after lagging earlier this year.\n“We prefer FANMAGs as their valuations have declined to 2019 [year-end] levels,” Deshpande said.\nMeanwhile, Barclays believes software stock valuations are currently expensive, so it prefers to stick with FANMAGs.\nOut of the tech giant names, Barclays likes Alphabet, Microsoft and Amazon in particular, as the bank expects these stocks to “hold on to their Covid market share gains and continue to benefit from the acceleration of digital transformation.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123943001,"gmtCreate":1624407422103,"gmtModify":1631891377908,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123943001","repostId":"2145066828","repostType":4,"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123940496,"gmtCreate":1624407391015,"gmtModify":1631891377913,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123940496","repostId":"2145737065","repostType":4,"isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167974919,"gmtCreate":1624245067731,"gmtModify":1631891377916,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Like and share","listText":"Like and share","text":"Like and share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167974919","repostId":"1134946846","repostType":4,"repost":{"id":"1134946846","pubTimestamp":1624244425,"share":"https://www.laohu8.com/m/news/1134946846?lang=&edition=full","pubTime":"2021-06-21 11:00","market":"us","language":"en","title":"Stock market's most popular trade faces 'perfect storm'","url":"https://stock-news.laohu8.com/highlight/detail?id=1134946846","media":"FoxBusiness","summary":"Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares t","content":"<p>Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares to exit the emergency measures put in place during the pandemic, according to Bank of America.</p>\n<p>The Fed’s decision to end the easy money era of the pandemic sent shockwaves through the market and put the Dow Jones Industrial Average on track for its worst week since January.</p>\n<p>Cyclical stocks on Thursday, the day after the announcement, suffered their worst day in over a year when compared to defensive stocks as investors feared the central bank’s tapering could derail the economy. Cyclicals include sectors like industrials, energy and financials, whose performance is tied to the whims of the economy.</p>\n<p>A \"cyclical correction is now underway,\" wrote a team led by Michael Hartnett, chief investment strategist at Bank of America.</p>\n<p>He noted this week’s hawkish shift by the Fed is \"bad news\" and adds to the troubles that were presented by excess positioning, China tightening and fading hopes of additional fiscal stimulus in the U.S.</p>\n<p>The Fed on Wednesday held its benchmark interest rate near zero and maintained its bond-buying program at a pace of $120 billion per month, but moved up the forecast for its first rate hike to 2023 from 2024. More members, but not a majority, said the first rate hike could occur in 2022. The central bank also teased an end to its asset purchase program, but did not give any specifics as to when the tapering might begin.</p>\n<p>The Fed last year cut interest rates to near zero and pledged to buy an unlimited amount of assets to support the U.S. economy through its sharpest economic slowdown of the post-World War II era.</p>\n<p>The yield on the 10-year bond note fell to 1.45% on Friday in response to the Fed’s tightening plans. It hit a high of 1.75% on March 31.</p>\n<p>David Rosenberg, chief economist and strategist at Toronto-based Rosenberg Research says that adjusted for interest rates, the S&amp;P 500 is 20% above its intrinsic value.</p>\n<p>He believes investors would be foolish to ignore the signal that real rates, or those adjusted for inflation, are sending to the stock market.</p>\n<p>\"Overweighting&nbsp;defensive sectors and secular growth segments that tend to benefit&nbsp;by a sharp slowing in GDP growth, is a sound strategy,\" he wrote. \"At the same&nbsp;time, if the message from real rates proves&nbsp;prescient, investors will&nbsp;be well advised to trim their cyclical exposures.\"</p>","source":"lsy1610518597439","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>Stock market's most popular trade faces 'perfect storm'</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\">\nStock market's most popular trade faces 'perfect storm'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.foxbusiness.com/markets/stock-market-most-popular-trade-being-turned-upside-down><strong>FoxBusiness</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares to exit the emergency measures put in place during the pandemic, according to Bank of America.\nThe ...</p>\n\n<a href=\"https://www.foxbusiness.com/markets/stock-market-most-popular-trade-being-turned-upside-down\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.foxbusiness.com/markets/stock-market-most-popular-trade-being-turned-upside-down","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134946846","content_text":"Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares to exit the emergency measures put in place during the pandemic, according to Bank of America.\nThe Fed’s decision to end the easy money era of the pandemic sent shockwaves through the market and put the Dow Jones Industrial Average on track for its worst week since January.\nCyclical stocks on Thursday, the day after the announcement, suffered their worst day in over a year when compared to defensive stocks as investors feared the central bank’s tapering could derail the economy. Cyclicals include sectors like industrials, energy and financials, whose performance is tied to the whims of the economy.\nA \"cyclical correction is now underway,\" wrote a team led by Michael Hartnett, chief investment strategist at Bank of America.\nHe noted this week’s hawkish shift by the Fed is \"bad news\" and adds to the troubles that were presented by excess positioning, China tightening and fading hopes of additional fiscal stimulus in the U.S.\nThe Fed on Wednesday held its benchmark interest rate near zero and maintained its bond-buying program at a pace of $120 billion per month, but moved up the forecast for its first rate hike to 2023 from 2024. More members, but not a majority, said the first rate hike could occur in 2022. The central bank also teased an end to its asset purchase program, but did not give any specifics as to when the tapering might begin.\nThe Fed last year cut interest rates to near zero and pledged to buy an unlimited amount of assets to support the U.S. economy through its sharpest economic slowdown of the post-World War II era.\nThe yield on the 10-year bond note fell to 1.45% on Friday in response to the Fed’s tightening plans. It hit a high of 1.75% on March 31.\nDavid Rosenberg, chief economist and strategist at Toronto-based Rosenberg Research says that adjusted for interest rates, the S&P 500 is 20% above its intrinsic value.\nHe believes investors would be foolish to ignore the signal that real rates, or those adjusted for inflation, are sending to the stock market.\n\"Overweighting defensive sectors and secular growth segments that tend to benefit by a sharp slowing in GDP growth, is a sound strategy,\" he wrote. \"At the same time, if the message from real rates proves prescient, investors will be well advised to trim their cyclical exposures.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":84,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167975369,"gmtCreate":1624245022751,"gmtModify":1631891377912,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167975369","repostId":"1135860567","repostType":4,"repost":{"id":"1135860567","pubTimestamp":1624243350,"share":"https://www.laohu8.com/m/news/1135860567?lang=&edition=full","pubTime":"2021-06-21 10:42","market":"us","language":"en","title":"Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines","url":"https://stock-news.laohu8.com/highlight/detail?id=1135860567","media":"WSJ","summary":"The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.More companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plan","content":"<p>The frenzied stock-buying activity that may have saved&nbsp;AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.</p>\n<p>More companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner&nbsp;Peabody Energy Corp.,offshore drilling contractor&nbsp;Transocean Ltd.and retailer&nbsp;Express Inc.,all announced plans to sell stock, betting equity markets will support them despite heavy debt loads, recent losses and industry headwinds.</p>\n<p>Selling stock isn’t the typical way for distressed companies to grab a lifeline. More often, they are forced to seek out rescue loans, sell off assets or pursue a merger, which can be difficult because of their existing debt.</p>\n<p>But equity markets now are more open to supporting troubled issuers, in large part because of risk-hungry individual investors eager to speculate, according to bankers and investors following the trend.</p>\n<p>The planned equity sales, if successful, mark another way nonprofessional investors have reshaped financial markets since they began to demonstrate their collective power last year,creating opportunitiesfor finance executives in the process.</p>\n<p>“It’s a new phenomenon for some of these distressed companies,” said Scott Hartman, partner and co-head of corporate and traded credit at asset manager Värde Partners. “If I were in their seat, it makes a lot of sense to take equity capital when they can.”</p>\n<p>Peabody,Transoceanand Express are seeking to replicate—on a smaller scale—the capital-raising success of AMC, a favorite pick of individual investors who gather in online investing forums such as Reddit’s WallStreetBets.</p>\n<p>AMC raised $2.2 billionthrough several stock salesduring the pandemic, largely to an enthusiastic following of day traders, despite warnings it was at risk of bankruptcy.</p>\n<p>It is difficult to classify even a highly leveraged company as distressed when its access to equity is “seemingly infinite,” said Andy Moore, chief executive of B. Riley Securities Inc. His firm is acting as sales agent for Peabody, which earlier this month kicked off an effort to sell up to 12.5 million shares through an “at-the-market” offering. In such offerings, companies sell shares bit-by-bit at market prices in a manner that is accessible to individual investors as well as institutional ones.</p>\n<p>Since exiting bankruptcy in 2017, Peabody has faced difficulties as utilities rely less on coal, and it restructured debt in February to avert a default. The company’s bonds trade at discounts of between 69 and 78 cents on the dollar, indicating market doubts they will be fully repaid. It reported an $80 million net loss in the first quarter amid continued weak conditions for the coal industry.</p>\n<p>Express, the apparel retailer, borrowed money from private-equity firm Sycamore Partners in January to stockpile cash for surviving the pandemic. Then the company launched an ATM stock sale earlier this month, aiming to sell up to 15 million new shares, despite reporting a loss of $405 million for the last fiscal year as a result of the pandemic and its impact on shopping.</p>\n<p>On Tuesday, offshore drillerTransoceanjoined in with an offering of up to $400 million in shares despite a junk credit rating, more than $7 billion in debt, andongoing creditor litigationover its restructuring efforts last year.</p>\n<p>Peabody and Express didn’t respond to requests for comment. Transocean referred inquiries to its securities filings.</p>\n<p>Jamie Zimmerman, founder and CEO of hedge-fund manager Litespeed Management LLC, said that some troubled companies may be unable to raise new debt, and selling stock may be their only path to obtain financing.</p>\n<p>“You don’t get unless you ask,” said Dan Zwirn, founder and chief executive of asset manager Arena Investors LP. “If I’m structurally insolvent and can’t refinance myself into extending the life of the enterprise, I might as well take this shot.”</p>\n<p>“With this infusion of retail people, there are more counterparties for such a transaction,” Mr. Zwirn added.</p>\n<p>Inflows of capital from individual investors, some using money from federal stimulus funds to open trading accounts, have buoyed the broader stock market, driving gains of more than10% year-to-datefor the Dow Jones Industrial Average and Nasdaq Composite Index.</p>\n<p>Individual investors’ share of overall U.S. equities trading volume rose last year to roughly double what it was a decade before andcontinues to grow. At times, their bets on beaten-down stocks havebeat out institutional investors.</p>\n<p>Howard Fischer, a securities lawyer with Moses &amp; Singer LLP, said that the underlying economic health now seems less important than the unbridled enthusiasm of individual investors, even if that enthusiasm is divorced from any rational economic analysis.</p>\n<p>Hertz Global Holdings Inc.tried to ride a wave of interest from retail traders to finance itself last year while it was under bankruptcy protection, and ended up scrapping the effort under pressure from the Securities and Exchange Commission.</p>\n<p>The bullish individual investors who bet on the business shortly after it filed for chapter 11 were vindicated when Hertz found buyers agreeing to pay up to $8 a share in value.</p>\n<p>Adi Habbu, a director on the credit trading desk atBarclays PLC,said widespread bullishness in equity markets goes beyond retail traders, and is fueled by the economic recovery and the easing of pandemic restrictions.</p>\n<p>“It’s certainly not a bad time to try,” he said. “The core trend is that there is positive reopening sentiment that is driven not just by retail but by institutional players as well.”</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>Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines</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\">\nTroubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 10:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6><strong>WSJ</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.\nMore companies with ...</p>\n\n<a href=\"https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTU":"Peabody","RIG":"Transocean Ltd.","AMC":"AMC院线","EXPR":"Express, Inc."},"source_url":"https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135860567","content_text":"The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.\nMore companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plans to sell stock, betting equity markets will support them despite heavy debt loads, recent losses and industry headwinds.\nSelling stock isn’t the typical way for distressed companies to grab a lifeline. More often, they are forced to seek out rescue loans, sell off assets or pursue a merger, which can be difficult because of their existing debt.\nBut equity markets now are more open to supporting troubled issuers, in large part because of risk-hungry individual investors eager to speculate, according to bankers and investors following the trend.\nThe planned equity sales, if successful, mark another way nonprofessional investors have reshaped financial markets since they began to demonstrate their collective power last year,creating opportunitiesfor finance executives in the process.\n“It’s a new phenomenon for some of these distressed companies,” said Scott Hartman, partner and co-head of corporate and traded credit at asset manager Värde Partners. “If I were in their seat, it makes a lot of sense to take equity capital when they can.”\nPeabody,Transoceanand Express are seeking to replicate—on a smaller scale—the capital-raising success of AMC, a favorite pick of individual investors who gather in online investing forums such as Reddit’s WallStreetBets.\nAMC raised $2.2 billionthrough several stock salesduring the pandemic, largely to an enthusiastic following of day traders, despite warnings it was at risk of bankruptcy.\nIt is difficult to classify even a highly leveraged company as distressed when its access to equity is “seemingly infinite,” said Andy Moore, chief executive of B. Riley Securities Inc. His firm is acting as sales agent for Peabody, which earlier this month kicked off an effort to sell up to 12.5 million shares through an “at-the-market” offering. In such offerings, companies sell shares bit-by-bit at market prices in a manner that is accessible to individual investors as well as institutional ones.\nSince exiting bankruptcy in 2017, Peabody has faced difficulties as utilities rely less on coal, and it restructured debt in February to avert a default. The company’s bonds trade at discounts of between 69 and 78 cents on the dollar, indicating market doubts they will be fully repaid. It reported an $80 million net loss in the first quarter amid continued weak conditions for the coal industry.\nExpress, the apparel retailer, borrowed money from private-equity firm Sycamore Partners in January to stockpile cash for surviving the pandemic. Then the company launched an ATM stock sale earlier this month, aiming to sell up to 15 million new shares, despite reporting a loss of $405 million for the last fiscal year as a result of the pandemic and its impact on shopping.\nOn Tuesday, offshore drillerTransoceanjoined in with an offering of up to $400 million in shares despite a junk credit rating, more than $7 billion in debt, andongoing creditor litigationover its restructuring efforts last year.\nPeabody and Express didn’t respond to requests for comment. Transocean referred inquiries to its securities filings.\nJamie Zimmerman, founder and CEO of hedge-fund manager Litespeed Management LLC, said that some troubled companies may be unable to raise new debt, and selling stock may be their only path to obtain financing.\n“You don’t get unless you ask,” said Dan Zwirn, founder and chief executive of asset manager Arena Investors LP. “If I’m structurally insolvent and can’t refinance myself into extending the life of the enterprise, I might as well take this shot.”\n“With this infusion of retail people, there are more counterparties for such a transaction,” Mr. Zwirn added.\nInflows of capital from individual investors, some using money from federal stimulus funds to open trading accounts, have buoyed the broader stock market, driving gains of more than10% year-to-datefor the Dow Jones Industrial Average and Nasdaq Composite Index.\nIndividual investors’ share of overall U.S. equities trading volume rose last year to roughly double what it was a decade before andcontinues to grow. At times, their bets on beaten-down stocks havebeat out institutional investors.\nHoward Fischer, a securities lawyer with Moses & Singer LLP, said that the underlying economic health now seems less important than the unbridled enthusiasm of individual investors, even if that enthusiasm is divorced from any rational economic analysis.\nHertz Global Holdings Inc.tried to ride a wave of interest from retail traders to finance itself last year while it was under bankruptcy protection, and ended up scrapping the effort under pressure from the Securities and Exchange Commission.\nThe bullish individual investors who bet on the business shortly after it filed for chapter 11 were vindicated when Hertz found buyers agreeing to pay up to $8 a share in value.\nAdi Habbu, a director on the credit trading desk atBarclays PLC,said widespread bullishness in equity markets goes beyond retail traders, and is fueled by the economic recovery and the easing of pandemic restrictions.\n“It’s certainly not a bad time to try,” he said. “The core trend is that there is positive reopening sentiment that is driven not just by retail but by institutional players as well.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165895219,"gmtCreate":1624113592731,"gmtModify":1631891377919,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165895219","repostId":"1138062216","repostType":4,"repost":{"id":"1138062216","pubTimestamp":1624029740,"share":"https://www.laohu8.com/m/news/1138062216?lang=&edition=full","pubTime":"2021-06-18 23:22","market":"us","language":"en","title":"Energy stocks roar toward their best year in three decades amid recovery in oil","url":"https://stock-news.laohu8.com/highlight/detail?id=1138062216","media":"cnbc","summary":"It’s six months into 2021, andenergy stocksare already on pace for their best year in more than thre","content":"<div>\n<p>It’s six months into 2021, andenergy stocksare already on pace for their best year in more than three decades, leading some to believe the run may be due for a pullback.\nThe group pulled back on ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/18/energy-stocks-roar-toward-their-best-year-in-three-decades-amid-recovery-in-oil.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Energy stocks roar toward their best year in three decades amid recovery in oil</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\">\nEnergy stocks roar toward their best year in three decades amid recovery in oil\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 23:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/18/energy-stocks-roar-toward-their-best-year-in-three-decades-amid-recovery-in-oil.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s six months into 2021, andenergy stocksare already on pace for their best year in more than three decades, leading some to believe the run may be due for a pullback.\nThe group pulled back on ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/18/energy-stocks-roar-toward-their-best-year-in-three-decades-amid-recovery-in-oil.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DVN":"德文能源","EOG":"依欧格资源","MRO":"马拉松石油","FANG":"Diamondback Energy"},"source_url":"https://www.cnbc.com/2021/06/18/energy-stocks-roar-toward-their-best-year-in-three-decades-amid-recovery-in-oil.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138062216","content_text":"It’s six months into 2021, andenergy stocksare already on pace for their best year in more than three decades, leading some to believe the run may be due for a pullback.\nThe group pulled back on Thursday and Friday, but is still up more than 40% for the year. That’s almost double the 23% return for the real estate sector, which is the second-best sector. The S&P 500 is up nearly 12% this year.\nEnergy’s big start to the year means that even if the sector goes nowhere for the rest of 2021, it will still be the best year since 1990 by nearly 10%, according to Bay Crest Partners chief market technician Jonathan Krinsky.\nThe surge in energy stocks comes on the back of a recovery in oil prices, and as investors return to areas of the market that were left out of 2020′s rebound from the pandemic lows. The sector was also starting from a low base. In 2020, the group fell 37.3% for its worst performance since inception in 1989.\nKrinsky is among those saying the upside move is overdone, and his call is to sell crude oil and energy stocks broadly. From a technical standpoint, he noted that the $420 to $450 level acted as support — a floor — for the group during the last decade. But then during the Covid sell-off, the sector plunged below that key level — breaking below $200 — as the pandemic ground economies around the world to a halt.\n\nThe S&P Energy Sector has since recovered and traded as high as $420 on Thursday, inching closer to their prior support level, which now acts as resistance, or where an uptrend could be expected to reverse.\n“Oftentimes when you break a very important support like that, once you come back and test it as resistance, it’s difficult to exceed that — at least on the first try,” Krinsky noted.\nGauging performance from Jan. 1 might seem arbitrary, but he added that the sector’s outperformance is notable from virtually any date. Over the last eight months, the group has returned over 90%, which Krinsky says is more than two times the prior largest such gain over the last three decades.\n“Even on a rolling basis this is somewhat unprecedented,” he said. His bearish call on the sector also stems from other commodities breaking down, including lumber and copper. The latter is now breaking its uptrend, and Krinsky noted that copper was a leading indicator for the 2020 low, hitting a bottom one month ahead of West Texas Intermediate Crude futures.\nTOP-PERFORMING S&P 500 ENERGY STOCKS THIS YEAR\n\n\n\nTICKER\nCOMPANY\nPRICE\n%CHANGE\nYIELD\nPREVIOUS CLOSE\n\n\n\n\nMRO\nMarathon Oil Corp\n12.83\n-0.4655\n12.83\n12.89\n\n\nFANG\nDiamondback Energy Inc\n86.23\n-0.7596\n86.23\n86.89\n\n\nDVN\nDevon Energy Corp\n27.22\n-1.3411\n27.22\n27.59\n\n\nEOG\nEOG Resources Inc\n80.795\n-0.7798\n80.795\n81.43\n\n\n\nWithin the sector,Marathon Oilhas gained nearly 93% this year, making it the top-performing energy stock in the S&P 500.\nDiamondback Energyrose about 80% year to date, andDevon Energyclimbed more than 70%.OccidentalandEOG Resourcesare up more than 60%.\nAmid the outperformance the group remains unloved by Wall Street as factors – including environmental, social and corporate governance investing – prompt investors to shy away from the sector. Bank of America recently noted that the entire sector makes up just 2% of the average long-only portfolio, or less than half the allocation toward Facebook, which sits at 4.2%.\nEnergy still comprises a tiny portion of the S&P 500, but as the sector’s weighting grows, fund managers who shun the space could risk returns.\nMRB Partners on Thursday reiterated its overweight rating on the group, saying the recovery in demand for petroleum products, coupled with ongoing supply constraints, should push oil prices higher, leading to further returns for energy stocks.\n“Strengthening cash flows, leaner cost structures, and better capital discipline position the industry to moderately increase capital returns to shareholders,” strategists led by Salvatore Ruscitti wrote in a note to clients. “Relative performance will benefit from the reflationary backdrop and our expectations for a softer U.S. dollar.”\nWhen it comes to specific stocks, Gilman Hill Asset Management CEO Jenny Harrington owns names includingChevron,OneokandKinder Morgan. She noted on Thursday’s“Halftime Report”that it’s important to look at the whole picture. While oil is at its highest level in nearly two and a half years, it’s trading at about half the level it was just a few years ago. On the flip side, it’s well above where it traded in June of 2020 as the pandemic took hold.\n“They’re all trading at a fraction of the market multiple,” Harrington said of the energy stocks she owns. “They all have hefty dividend yields,” she added, arguing that strong earnings growth means “there’s a lot of room to go here.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":55,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165892197,"gmtCreate":1624113459719,"gmtModify":1631891377921,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Yyy","listText":"Yyy","text":"Yyy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165892197","repostId":"1161408410","repostType":4,"isVote":1,"tweetType":1,"viewCount":105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165896737,"gmtCreate":1624113427029,"gmtModify":1631892561106,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165896737","repostId":"1161408410","repostType":4,"isVote":1,"tweetType":1,"viewCount":145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166172398,"gmtCreate":1623999367514,"gmtModify":1631892561116,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"Wowee","listText":"Wowee","text":"Wowee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166172398","repostId":"1130200368","repostType":4,"repost":{"id":"1130200368","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":1623992866,"share":"https://www.laohu8.com/m/news/1130200368?lang=&edition=full","pubTime":"2021-06-18 13:07","market":"us","language":"en","title":"China new energy vehicle sales to grow over 40%/yr in next 5 yrs -industry body","url":"https://stock-news.laohu8.com/highlight/detail?id=1130200368","media":"Reuters","summary":"SHANGHAI, June 18  - China's new energy vehicle  sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers  said on Friday.Fu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.Fu's presentation showed that CAAM forecasts sales of NEVs, including battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to hit 1.9 million units this year a","content":"<p>SHANGHAI, June 18 (Reuters) - China's new energy vehicle (NEV) sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers (CAAM) said on Friday.</p>\n<p>Fu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.</p>\n<p>Fu's presentation showed that CAAM forecasts sales of NEVs, including battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to hit 1.9 million units this year and 2.7 million vehicles in 2022.</p>\n<p>NEV makers, such as Tesla Inc, Nio Inc, Xpeng Inc&nbsp;and BYD, are expanding manufacturing capacity in China, encouraged by the government's promotion of greener vehicles to cut pollution.</p>\n<p>China could extend tax exemptions on NEV purchases beyond 2022 to support development of the sector, Wan Gang, a high-ranking government industrial policy adviser who is often referred to in state media as China's \"father of EV\", said at the same CAAM conference.</p>\n<p>Shares in China's NEV-related companies climbed after the forecast.</p>\n<p>Top battery maker CATL(300750.SZ)&nbsp;gained 3.7%. Hunan Zhongke Electric Co Ltd(300035.SZ), Ningbo Rongbay New Energy Technology Co Ltd(688005.SS), Guangzhou Tinci Materials Technology Co Ltd(002709.SZ)and BYD climbed between 2.9% and 10%.</p>\n<p>Reporting by Yilei Sun and Tony Munroe; Editing by Muralikumar Anantharaman</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>China new energy vehicle sales to grow over 40%/yr in next 5 yrs -industry body</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\">\nChina new energy vehicle sales to grow over 40%/yr in next 5 yrs -industry body\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\">2021-06-18 13:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI, June 18 (Reuters) - China's new energy vehicle (NEV) sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers (CAAM) said on Friday.</p>\n<p>Fu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.</p>\n<p>Fu's presentation showed that CAAM forecasts sales of NEVs, including battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to hit 1.9 million units this year and 2.7 million vehicles in 2022.</p>\n<p>NEV makers, such as Tesla Inc, Nio Inc, Xpeng Inc&nbsp;and BYD, are expanding manufacturing capacity in China, encouraged by the government's promotion of greener vehicles to cut pollution.</p>\n<p>China could extend tax exemptions on NEV purchases beyond 2022 to support development of the sector, Wan Gang, a high-ranking government industrial policy adviser who is often referred to in state media as China's \"father of EV\", said at the same CAAM conference.</p>\n<p>Shares in China's NEV-related companies climbed after the forecast.</p>\n<p>Top battery maker CATL(300750.SZ)&nbsp;gained 3.7%. Hunan Zhongke Electric Co Ltd(300035.SZ), Ningbo Rongbay New Energy Technology Co Ltd(688005.SS), Guangzhou Tinci Materials Technology Co Ltd(002709.SZ)and BYD climbed between 2.9% and 10%.</p>\n<p>Reporting by Yilei Sun and Tony Munroe; Editing by Muralikumar Anantharaman</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车","002594":"比亚迪","TSLA":"特斯拉","NIO":"蔚来","01211":"比亚迪股份","XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130200368","content_text":"SHANGHAI, June 18 (Reuters) - China's new energy vehicle (NEV) sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers (CAAM) said on Friday.\nFu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.\nFu's presentation showed that CAAM forecasts sales of NEVs, including battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to hit 1.9 million units this year and 2.7 million vehicles in 2022.\nNEV makers, such as Tesla Inc, Nio Inc, Xpeng Inc and BYD, are expanding manufacturing capacity in China, encouraged by the government's promotion of greener vehicles to cut pollution.\nChina could extend tax exemptions on NEV purchases beyond 2022 to support development of the sector, Wan Gang, a high-ranking government industrial policy adviser who is often referred to in state media as China's \"father of EV\", said at the same CAAM conference.\nShares in China's NEV-related companies climbed after the forecast.\nTop battery maker CATL(300750.SZ) gained 3.7%. Hunan Zhongke Electric Co Ltd(300035.SZ), Ningbo Rongbay New Energy Technology Co Ltd(688005.SS), Guangzhou Tinci Materials Technology Co Ltd(002709.SZ)and BYD climbed between 2.9% and 10%.\nReporting by Yilei Sun and Tony Munroe; Editing by Muralikumar Anantharaman","news_type":1},"isVote":1,"tweetType":1,"viewCount":22,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166171681,"gmtCreate":1623999244443,"gmtModify":1631892561127,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571972935337090","authorIdStr":"3571972935337090"},"themes":[],"htmlText":"2ow","listText":"2ow","text":"2ow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166171681","repostId":"1175693382","repostType":4,"repost":{"id":"1175693382","pubTimestamp":1623978463,"share":"https://www.laohu8.com/m/news/1175693382?lang=&edition=full","pubTime":"2021-06-18 09:07","market":"hk","language":"en","title":"Alibaba Stock: The Bottoming Process Looks To Be Forming Already","url":"https://stock-news.laohu8.com/highlight/detail?id=1175693382","media":"seekingalpha","summary":"Alibaba is probably the most undervalued growth stock right now.The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.The short term technical picture may be turning bullish with a potential double bottom price action signal.When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is probably the most undervalued growth stock right now.</li>\n <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>\n <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>\n <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p>\n<p><b>The Technical Thesis</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p>\n<p>Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p>\n<p><b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p>\n<p>BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p>\n<p>Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p>\n<p>When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p>\n<p>Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p>\n<p>One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p>\n<p>Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p>\n<p>Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p>\n<p>We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p>\n<p>BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p>\n<p>Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p>\n<p><b>BABA's Valuations Look Highly Compelling</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p>\n<p>When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p>\n<p>By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p>\n<p><b>Risks to Assumptions</b></p>\n<p>Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p>\n<p><b>Wrapping It All Up</b></p>\n<p>Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</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>Alibaba Stock: The Bottoming Process Looks To Be Forming Already</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\">\nAlibaba Stock: The Bottoming Process Looks To Be Forming Already\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 09:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short...</p>\n\n<a href=\"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175693382","content_text":"Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short term technical picture may be turning bullish with a potential double bottom price action signal.\nWe discuss the company’s multiple growth drivers and let investors judge for themselves.\n\nYongyuan Dai/iStock Unreleased via Getty Images\nThe Technical Thesis\nSource: TradingView\nAlibaba’s stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.\nBABA's Fundamental Thesis: Rapidly Expanding Growth Drivers\nAnnual GMV. Data source: Company filings\nAnnual e-commerce revenue. Data source: Company filings\nBABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.\nEven though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.\nE-commerce revenue in the U.S. Data source: Statista\nWhen we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.\nPeers EBIT Margin and Projected EBIT Margin. Data source: S&P Capital IQ\nEven though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&A, and therefore skewed its EBIT margin to the downside.\nOne important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of 823M AAC in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only 100M AAC in Q2’C17 as compared to BABA’s 466M AAC in the same period.\nTherefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.\nMarket size of community group buying in China. Data source: iiMedia Research\nEven though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.\nPDD profitability metrics & revenue growth forecast. Data source: S&P Capital IQ\nWe could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.\nChina public cloud spending. Source:China Internet Watch; Canalys\nSize of China public cloud market. Data source: CAICT; Sina.com.cn\nBABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.\nWorldwide public cloud spending. Data source: Gartner\nWorldwide public cloud market share. Source:CnTechPost; Gartner\nTherefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.\nBABA's Valuations Look Highly Compelling\nNTM TEV / EBIT 3Y range.\nEV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&P Capital IQ\nWhen we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.\nPeers EV / EBIT Valuations. Data source: S&P Capital IQ\nBy using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.\nRisks to Assumptions\nNow, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.\nWrapping It All Up\nAlibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.","news_type":1},"isVote":1,"tweetType":1,"viewCount":18,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":167975369,"gmtCreate":1624245022751,"gmtModify":1631891377912,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167975369","repostId":"1135860567","repostType":4,"repost":{"id":"1135860567","pubTimestamp":1624243350,"share":"https://www.laohu8.com/m/news/1135860567?lang=&edition=full","pubTime":"2021-06-21 10:42","market":"us","language":"en","title":"Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines","url":"https://stock-news.laohu8.com/highlight/detail?id=1135860567","media":"WSJ","summary":"The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.More companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plan","content":"<p>The frenzied stock-buying activity that may have saved&nbsp;AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.</p>\n<p>More companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner&nbsp;Peabody Energy Corp.,offshore drilling contractor&nbsp;Transocean Ltd.and retailer&nbsp;Express Inc.,all announced plans to sell stock, betting equity markets will support them despite heavy debt loads, recent losses and industry headwinds.</p>\n<p>Selling stock isn’t the typical way for distressed companies to grab a lifeline. More often, they are forced to seek out rescue loans, sell off assets or pursue a merger, which can be difficult because of their existing debt.</p>\n<p>But equity markets now are more open to supporting troubled issuers, in large part because of risk-hungry individual investors eager to speculate, according to bankers and investors following the trend.</p>\n<p>The planned equity sales, if successful, mark another way nonprofessional investors have reshaped financial markets since they began to demonstrate their collective power last year,creating opportunitiesfor finance executives in the process.</p>\n<p>“It’s a new phenomenon for some of these distressed companies,” said Scott Hartman, partner and co-head of corporate and traded credit at asset manager Värde Partners. “If I were in their seat, it makes a lot of sense to take equity capital when they can.”</p>\n<p>Peabody,Transoceanand Express are seeking to replicate—on a smaller scale—the capital-raising success of AMC, a favorite pick of individual investors who gather in online investing forums such as Reddit’s WallStreetBets.</p>\n<p>AMC raised $2.2 billionthrough several stock salesduring the pandemic, largely to an enthusiastic following of day traders, despite warnings it was at risk of bankruptcy.</p>\n<p>It is difficult to classify even a highly leveraged company as distressed when its access to equity is “seemingly infinite,” said Andy Moore, chief executive of B. Riley Securities Inc. His firm is acting as sales agent for Peabody, which earlier this month kicked off an effort to sell up to 12.5 million shares through an “at-the-market” offering. In such offerings, companies sell shares bit-by-bit at market prices in a manner that is accessible to individual investors as well as institutional ones.</p>\n<p>Since exiting bankruptcy in 2017, Peabody has faced difficulties as utilities rely less on coal, and it restructured debt in February to avert a default. The company’s bonds trade at discounts of between 69 and 78 cents on the dollar, indicating market doubts they will be fully repaid. It reported an $80 million net loss in the first quarter amid continued weak conditions for the coal industry.</p>\n<p>Express, the apparel retailer, borrowed money from private-equity firm Sycamore Partners in January to stockpile cash for surviving the pandemic. Then the company launched an ATM stock sale earlier this month, aiming to sell up to 15 million new shares, despite reporting a loss of $405 million for the last fiscal year as a result of the pandemic and its impact on shopping.</p>\n<p>On Tuesday, offshore drillerTransoceanjoined in with an offering of up to $400 million in shares despite a junk credit rating, more than $7 billion in debt, andongoing creditor litigationover its restructuring efforts last year.</p>\n<p>Peabody and Express didn’t respond to requests for comment. Transocean referred inquiries to its securities filings.</p>\n<p>Jamie Zimmerman, founder and CEO of hedge-fund manager Litespeed Management LLC, said that some troubled companies may be unable to raise new debt, and selling stock may be their only path to obtain financing.</p>\n<p>“You don’t get unless you ask,” said Dan Zwirn, founder and chief executive of asset manager Arena Investors LP. “If I’m structurally insolvent and can’t refinance myself into extending the life of the enterprise, I might as well take this shot.”</p>\n<p>“With this infusion of retail people, there are more counterparties for such a transaction,” Mr. Zwirn added.</p>\n<p>Inflows of capital from individual investors, some using money from federal stimulus funds to open trading accounts, have buoyed the broader stock market, driving gains of more than10% year-to-datefor the Dow Jones Industrial Average and Nasdaq Composite Index.</p>\n<p>Individual investors’ share of overall U.S. equities trading volume rose last year to roughly double what it was a decade before andcontinues to grow. At times, their bets on beaten-down stocks havebeat out institutional investors.</p>\n<p>Howard Fischer, a securities lawyer with Moses &amp; Singer LLP, said that the underlying economic health now seems less important than the unbridled enthusiasm of individual investors, even if that enthusiasm is divorced from any rational economic analysis.</p>\n<p>Hertz Global Holdings Inc.tried to ride a wave of interest from retail traders to finance itself last year while it was under bankruptcy protection, and ended up scrapping the effort under pressure from the Securities and Exchange Commission.</p>\n<p>The bullish individual investors who bet on the business shortly after it filed for chapter 11 were vindicated when Hertz found buyers agreeing to pay up to $8 a share in value.</p>\n<p>Adi Habbu, a director on the credit trading desk atBarclays PLC,said widespread bullishness in equity markets goes beyond retail traders, and is fueled by the economic recovery and the easing of pandemic restrictions.</p>\n<p>“It’s certainly not a bad time to try,” he said. “The core trend is that there is positive reopening sentiment that is driven not just by retail but by institutional players as well.”</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>Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines</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\">\nTroubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 10:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6><strong>WSJ</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.\nMore companies with ...</p>\n\n<a href=\"https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTU":"Peabody","RIG":"Transocean Ltd.","AMC":"AMC院线","EXPR":"Express, Inc."},"source_url":"https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135860567","content_text":"The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.\nMore companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plans to sell stock, betting equity markets will support them despite heavy debt loads, recent losses and industry headwinds.\nSelling stock isn’t the typical way for distressed companies to grab a lifeline. More often, they are forced to seek out rescue loans, sell off assets or pursue a merger, which can be difficult because of their existing debt.\nBut equity markets now are more open to supporting troubled issuers, in large part because of risk-hungry individual investors eager to speculate, according to bankers and investors following the trend.\nThe planned equity sales, if successful, mark another way nonprofessional investors have reshaped financial markets since they began to demonstrate their collective power last year,creating opportunitiesfor finance executives in the process.\n“It’s a new phenomenon for some of these distressed companies,” said Scott Hartman, partner and co-head of corporate and traded credit at asset manager Värde Partners. “If I were in their seat, it makes a lot of sense to take equity capital when they can.”\nPeabody,Transoceanand Express are seeking to replicate—on a smaller scale—the capital-raising success of AMC, a favorite pick of individual investors who gather in online investing forums such as Reddit’s WallStreetBets.\nAMC raised $2.2 billionthrough several stock salesduring the pandemic, largely to an enthusiastic following of day traders, despite warnings it was at risk of bankruptcy.\nIt is difficult to classify even a highly leveraged company as distressed when its access to equity is “seemingly infinite,” said Andy Moore, chief executive of B. Riley Securities Inc. His firm is acting as sales agent for Peabody, which earlier this month kicked off an effort to sell up to 12.5 million shares through an “at-the-market” offering. In such offerings, companies sell shares bit-by-bit at market prices in a manner that is accessible to individual investors as well as institutional ones.\nSince exiting bankruptcy in 2017, Peabody has faced difficulties as utilities rely less on coal, and it restructured debt in February to avert a default. The company’s bonds trade at discounts of between 69 and 78 cents on the dollar, indicating market doubts they will be fully repaid. It reported an $80 million net loss in the first quarter amid continued weak conditions for the coal industry.\nExpress, the apparel retailer, borrowed money from private-equity firm Sycamore Partners in January to stockpile cash for surviving the pandemic. Then the company launched an ATM stock sale earlier this month, aiming to sell up to 15 million new shares, despite reporting a loss of $405 million for the last fiscal year as a result of the pandemic and its impact on shopping.\nOn Tuesday, offshore drillerTransoceanjoined in with an offering of up to $400 million in shares despite a junk credit rating, more than $7 billion in debt, andongoing creditor litigationover its restructuring efforts last year.\nPeabody and Express didn’t respond to requests for comment. Transocean referred inquiries to its securities filings.\nJamie Zimmerman, founder and CEO of hedge-fund manager Litespeed Management LLC, said that some troubled companies may be unable to raise new debt, and selling stock may be their only path to obtain financing.\n“You don’t get unless you ask,” said Dan Zwirn, founder and chief executive of asset manager Arena Investors LP. “If I’m structurally insolvent and can’t refinance myself into extending the life of the enterprise, I might as well take this shot.”\n“With this infusion of retail people, there are more counterparties for such a transaction,” Mr. Zwirn added.\nInflows of capital from individual investors, some using money from federal stimulus funds to open trading accounts, have buoyed the broader stock market, driving gains of more than10% year-to-datefor the Dow Jones Industrial Average and Nasdaq Composite Index.\nIndividual investors’ share of overall U.S. equities trading volume rose last year to roughly double what it was a decade before andcontinues to grow. At times, their bets on beaten-down stocks havebeat out institutional investors.\nHoward Fischer, a securities lawyer with Moses & Singer LLP, said that the underlying economic health now seems less important than the unbridled enthusiasm of individual investors, even if that enthusiasm is divorced from any rational economic analysis.\nHertz Global Holdings Inc.tried to ride a wave of interest from retail traders to finance itself last year while it was under bankruptcy protection, and ended up scrapping the effort under pressure from the Securities and Exchange Commission.\nThe bullish individual investors who bet on the business shortly after it filed for chapter 11 were vindicated when Hertz found buyers agreeing to pay up to $8 a share in value.\nAdi Habbu, a director on the credit trading desk atBarclays PLC,said widespread bullishness in equity markets goes beyond retail traders, and is fueled by the economic recovery and the easing of pandemic restrictions.\n“It’s certainly not a bad time to try,” he said. “The core trend is that there is positive reopening sentiment that is driven not just by retail but by institutional players as well.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166171681,"gmtCreate":1623999244443,"gmtModify":1631892561127,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"2ow","listText":"2ow","text":"2ow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166171681","repostId":"1175693382","repostType":4,"repost":{"id":"1175693382","pubTimestamp":1623978463,"share":"https://www.laohu8.com/m/news/1175693382?lang=&edition=full","pubTime":"2021-06-18 09:07","market":"hk","language":"en","title":"Alibaba Stock: The Bottoming Process Looks To Be Forming Already","url":"https://stock-news.laohu8.com/highlight/detail?id=1175693382","media":"seekingalpha","summary":"Alibaba is probably the most undervalued growth stock right now.The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.The short term technical picture may be turning bullish with a potential double bottom price action signal.When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is probably the most undervalued growth stock right now.</li>\n <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>\n <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>\n <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p>\n<p><b>The Technical Thesis</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p>\n<p>Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p>\n<p><b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p>\n<p>BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p>\n<p>Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p>\n<p>When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p>\n<p>Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p>\n<p>One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p>\n<p>Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p>\n<p>Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p>\n<p>We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p>\n<p>BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p>\n<p>Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p>\n<p><b>BABA's Valuations Look Highly Compelling</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p>\n<p>When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p>\n<p>By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p>\n<p><b>Risks to Assumptions</b></p>\n<p>Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p>\n<p><b>Wrapping It All Up</b></p>\n<p>Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</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>Alibaba Stock: The Bottoming Process Looks To Be Forming Already</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\">\nAlibaba Stock: The Bottoming Process Looks To Be Forming Already\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 09:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short...</p>\n\n<a href=\"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175693382","content_text":"Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short term technical picture may be turning bullish with a potential double bottom price action signal.\nWe discuss the company’s multiple growth drivers and let investors judge for themselves.\n\nYongyuan Dai/iStock Unreleased via Getty Images\nThe Technical Thesis\nSource: TradingView\nAlibaba’s stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.\nBABA's Fundamental Thesis: Rapidly Expanding Growth Drivers\nAnnual GMV. Data source: Company filings\nAnnual e-commerce revenue. Data source: Company filings\nBABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.\nEven though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.\nE-commerce revenue in the U.S. Data source: Statista\nWhen we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.\nPeers EBIT Margin and Projected EBIT Margin. Data source: S&P Capital IQ\nEven though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&A, and therefore skewed its EBIT margin to the downside.\nOne important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of 823M AAC in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only 100M AAC in Q2’C17 as compared to BABA’s 466M AAC in the same period.\nTherefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.\nMarket size of community group buying in China. Data source: iiMedia Research\nEven though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.\nPDD profitability metrics & revenue growth forecast. Data source: S&P Capital IQ\nWe could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.\nChina public cloud spending. Source:China Internet Watch; Canalys\nSize of China public cloud market. Data source: CAICT; Sina.com.cn\nBABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.\nWorldwide public cloud spending. Data source: Gartner\nWorldwide public cloud market share. Source:CnTechPost; Gartner\nTherefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.\nBABA's Valuations Look Highly Compelling\nNTM TEV / EBIT 3Y range.\nEV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&P Capital IQ\nWhen we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.\nPeers EV / EBIT Valuations. Data source: S&P Capital IQ\nBy using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.\nRisks to Assumptions\nNow, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.\nWrapping It All Up\nAlibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.","news_type":1},"isVote":1,"tweetType":1,"viewCount":18,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123945662,"gmtCreate":1624407543656,"gmtModify":1631891377909,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Qqq","listText":"Qqq","text":"Qqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123945662","repostId":"1168688117","repostType":4,"repost":{"id":"1168688117","pubTimestamp":1624404535,"share":"https://www.laohu8.com/m/news/1168688117?lang=&edition=full","pubTime":"2021-06-23 07:28","market":"us","language":"en","title":"Barclays chief stock strategist says Covid recovery trade is over, go back into Big Tech","url":"https://stock-news.laohu8.com/highlight/detail?id=1168688117","media":"CNBC","summary":"The pandemic recovery trade has run its course, and now it’s time to get back into Big Tech stocks, ","content":"<div>\n<p>The pandemic recovery trade has run its course, and now it’s time to get back into Big Tech stocks, one market strategist told clients Tuesday.\n“We believe market leadership is likely to change from ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/22/stocks-barclays-strategist-says-go-back-into-big-tech.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Barclays chief stock strategist says Covid recovery trade is over, go back into Big Tech</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\">\nBarclays chief stock strategist says Covid recovery trade is over, go back into Big Tech\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 07:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/22/stocks-barclays-strategist-says-go-back-into-big-tech.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The pandemic recovery trade has run its course, and now it’s time to get back into Big Tech stocks, one market strategist told clients Tuesday.\n“We believe market leadership is likely to change from ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/22/stocks-barclays-strategist-says-go-back-into-big-tech.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","MSFT":"微软","NFLX":"奈飞","AAPL":"苹果","AMZN":"亚马逊"},"source_url":"https://www.cnbc.com/2021/06/22/stocks-barclays-strategist-says-go-back-into-big-tech.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1168688117","content_text":"The pandemic recovery trade has run its course, and now it’s time to get back into Big Tech stocks, one market strategist told clients Tuesday.\n“We believe market leadership is likely to change from cyclical to secular growth stocks as the Covid recovery trade has mostly run its course. Secular growth stocks look favorably positioned to benefit from the digital transformation that got accelerated during Covid,” Barclays head of U.S. equity strategy Maneesh Deshpandesaid in a note.\nValue and cyclical stocks shone in 2021, as investors turned to names that perform well in a recovering economy. But the growth theme is back in vogue as investors worry that much of the pandemic rebound has already been priced into those recovery names.\n“Following positive news on the vaccine front in November 2020, as the path to a cyclical economic recovery in 2021 became clearer, there was a rotation that began away from stocks with positive exposure to COVID-19 and into stocks with negative exposure to it,” Deshpande said. “We think this rotation is now complete.”\nGrowth stocks are shares of companies that are expected to grow at a faster rate than the rest of the market. In particular, secular growth stocks follow a longer-term trend and are less influenced by the overall economy.\nAccording to Barclays, technology names are particularly well-positioned for the moment due to an acceleration of digital transformation during the pandemic. Tech stocks stand to benefit from the growth of e-commerce marketplaces, digital advertising, work-from-home technology and cloud infrastructure, the bank said.\nBarclays is bullish on FANMAG stocks — a group of mega-cap tech names including Facebook,Amazon,Netflix,Microsoft,Appleand Google-parentAlphabet. What’s more, the bank believes these Big Tech names are relatively cheap now after lagging earlier this year.\n“We prefer FANMAGs as their valuations have declined to 2019 [year-end] levels,” Deshpande said.\nMeanwhile, Barclays believes software stock valuations are currently expensive, so it prefers to stick with FANMAGs.\nOut of the tech giant names, Barclays likes Alphabet, Microsoft and Amazon in particular, as the bank expects these stocks to “hold on to their Covid market share gains and continue to benefit from the acceleration of digital transformation.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165892197,"gmtCreate":1624113459719,"gmtModify":1631891377921,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Yyy","listText":"Yyy","text":"Yyy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165892197","repostId":"1161408410","repostType":4,"isVote":1,"tweetType":1,"viewCount":105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123331014,"gmtCreate":1624408551238,"gmtModify":1631891377901,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Haha","listText":"Haha","text":"Haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123331014","repostId":"2145664330","repostType":4,"isVote":1,"tweetType":1,"viewCount":76,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123943001,"gmtCreate":1624407422103,"gmtModify":1631891377908,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123943001","repostId":"2145066828","repostType":4,"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123940496,"gmtCreate":1624407391015,"gmtModify":1631891377913,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123940496","repostId":"2145737065","repostType":4,"isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165896737,"gmtCreate":1624113427029,"gmtModify":1631892561106,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165896737","repostId":"1161408410","repostType":4,"isVote":1,"tweetType":1,"viewCount":145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166172398,"gmtCreate":1623999367514,"gmtModify":1631892561116,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Wowee","listText":"Wowee","text":"Wowee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166172398","repostId":"1130200368","repostType":4,"repost":{"id":"1130200368","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":1623992866,"share":"https://www.laohu8.com/m/news/1130200368?lang=&edition=full","pubTime":"2021-06-18 13:07","market":"us","language":"en","title":"China new energy vehicle sales to grow over 40%/yr in next 5 yrs -industry body","url":"https://stock-news.laohu8.com/highlight/detail?id=1130200368","media":"Reuters","summary":"SHANGHAI, June 18  - China's new energy vehicle  sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers  said on Friday.Fu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.Fu's presentation showed that CAAM forecasts sales of NEVs, including battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to hit 1.9 million units this year a","content":"<p>SHANGHAI, June 18 (Reuters) - China's new energy vehicle (NEV) sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers (CAAM) said on Friday.</p>\n<p>Fu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.</p>\n<p>Fu's presentation showed that CAAM forecasts sales of NEVs, including battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to hit 1.9 million units this year and 2.7 million vehicles in 2022.</p>\n<p>NEV makers, such as Tesla Inc, Nio Inc, Xpeng Inc&nbsp;and BYD, are expanding manufacturing capacity in China, encouraged by the government's promotion of greener vehicles to cut pollution.</p>\n<p>China could extend tax exemptions on NEV purchases beyond 2022 to support development of the sector, Wan Gang, a high-ranking government industrial policy adviser who is often referred to in state media as China's \"father of EV\", said at the same CAAM conference.</p>\n<p>Shares in China's NEV-related companies climbed after the forecast.</p>\n<p>Top battery maker CATL(300750.SZ)&nbsp;gained 3.7%. Hunan Zhongke Electric Co Ltd(300035.SZ), Ningbo Rongbay New Energy Technology Co Ltd(688005.SS), Guangzhou Tinci Materials Technology Co Ltd(002709.SZ)and BYD climbed between 2.9% and 10%.</p>\n<p>Reporting by Yilei Sun and Tony Munroe; Editing by Muralikumar Anantharaman</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>China new energy vehicle sales to grow over 40%/yr in next 5 yrs -industry body</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\">\nChina new energy vehicle sales to grow over 40%/yr in next 5 yrs -industry body\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\">2021-06-18 13:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI, June 18 (Reuters) - China's new energy vehicle (NEV) sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers (CAAM) said on Friday.</p>\n<p>Fu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.</p>\n<p>Fu's presentation showed that CAAM forecasts sales of NEVs, including battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to hit 1.9 million units this year and 2.7 million vehicles in 2022.</p>\n<p>NEV makers, such as Tesla Inc, Nio Inc, Xpeng Inc&nbsp;and BYD, are expanding manufacturing capacity in China, encouraged by the government's promotion of greener vehicles to cut pollution.</p>\n<p>China could extend tax exemptions on NEV purchases beyond 2022 to support development of the sector, Wan Gang, a high-ranking government industrial policy adviser who is often referred to in state media as China's \"father of EV\", said at the same CAAM conference.</p>\n<p>Shares in China's NEV-related companies climbed after the forecast.</p>\n<p>Top battery maker CATL(300750.SZ)&nbsp;gained 3.7%. Hunan Zhongke Electric Co Ltd(300035.SZ), Ningbo Rongbay New Energy Technology Co Ltd(688005.SS), Guangzhou Tinci Materials Technology Co Ltd(002709.SZ)and BYD climbed between 2.9% and 10%.</p>\n<p>Reporting by Yilei Sun and Tony Munroe; Editing by Muralikumar Anantharaman</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车","002594":"比亚迪","TSLA":"特斯拉","NIO":"蔚来","01211":"比亚迪股份","XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130200368","content_text":"SHANGHAI, June 18 (Reuters) - China's new energy vehicle (NEV) sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers (CAAM) said on Friday.\nFu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.\nFu's presentation showed that CAAM forecasts sales of NEVs, including battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to hit 1.9 million units this year and 2.7 million vehicles in 2022.\nNEV makers, such as Tesla Inc, Nio Inc, Xpeng Inc and BYD, are expanding manufacturing capacity in China, encouraged by the government's promotion of greener vehicles to cut pollution.\nChina could extend tax exemptions on NEV purchases beyond 2022 to support development of the sector, Wan Gang, a high-ranking government industrial policy adviser who is often referred to in state media as China's \"father of EV\", said at the same CAAM conference.\nShares in China's NEV-related companies climbed after the forecast.\nTop battery maker CATL(300750.SZ) gained 3.7%. Hunan Zhongke Electric Co Ltd(300035.SZ), Ningbo Rongbay New Energy Technology Co Ltd(688005.SS), Guangzhou Tinci Materials Technology Co Ltd(002709.SZ)and BYD climbed between 2.9% and 10%.\nReporting by Yilei Sun and Tony Munroe; Editing by Muralikumar Anantharaman","news_type":1},"isVote":1,"tweetType":1,"viewCount":22,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":862620534,"gmtCreate":1632876504181,"gmtModify":1632876504181,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MSFT\">$Microsoft(MSFT)$</a>hh","listText":"<a href=\"https://laohu8.com/S/MSFT\">$Microsoft(MSFT)$</a>hh","text":"$Microsoft(MSFT)$hh","images":[{"img":"https://static.tigerbbs.com/08b7debb031afdd0de8227f18ecb9088","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862620534","isVote":1,"tweetType":1,"viewCount":429,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":122226013,"gmtCreate":1624624219132,"gmtModify":1631891377893,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122226013","repostId":"1105168683","repostType":4,"repost":{"id":"1105168683","pubTimestamp":1624623310,"share":"https://www.laohu8.com/m/news/1105168683?lang=&edition=full","pubTime":"2021-06-25 20:15","market":"us","language":"en","title":"5 things to know before the stock market opens Friday","url":"https://stock-news.laohu8.com/highlight/detail?id=1105168683","media":"cnbc","summary":"Here are the most important news, trends and analysis that investors need to start their trading day","content":"<div>\n<p>Here are the most important news, trends and analysis that investors need to start their trading day:\n\nWall Street headed for its best week in months\nFed’s favorite inflation indicator set for release...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/25/5-things-to-know-before-the-stock-market-opens-friday-june-25.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>5 things to know before the stock market opens Friday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 things to know before the stock market opens Friday\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 20:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/25/5-things-to-know-before-the-stock-market-opens-friday-june-25.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Here are the most important news, trends and analysis that investors need to start their trading day:\n\nWall Street headed for its best week in months\nFed’s favorite inflation indicator set for release...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/25/5-things-to-know-before-the-stock-market-opens-friday-june-25.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/06/25/5-things-to-know-before-the-stock-market-opens-friday-june-25.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1105168683","content_text":"Here are the most important news, trends and analysis that investors need to start their trading day:\n\nWall Street headed for its best week in months\nFed’s favorite inflation indicator set for release\nInfrastructure compromise includes $579 billion in new spending\nSearch continues for survivors in Florida building collapse\nChauvin could face decadeslong sentence in Floyd’s death\n\n1. Wall Street headed for its best week in months\nU.S. stock futuresrose Friday, one day after theS&P 500andNasdaqclosed at record highs, boosted by PresidentJoe Bidenreaching an infrastructure deal with a bipartisan group of senators. TheDowalso rallied Thursday,adding 322 points, or almost 1%, heading for its best weekly gain since March. The 30-stock average, after last week’s worst weekly decline in since October, stands about 1.6% away from its record close in early May. The S&P 500 and Nasdaq were tracking for their best weeks since April.\n\nDow stockNikesoared 13% in the premarket, set to open at an all-time. The athletic shoe and apparel giant late Thursdayhandily beat estimateswith quarterly earnings and revenue. Nike saw a 73% increase in direct sales through its apps and websites. Nike’s stock pop accounts for much of the rise in Dow futures.\nVirgin Galactic jumped 14% after getting thegreen light from the FAAto fly passengers to space. “The commercial license that we have had in place since 2016 remains in place, but is now cleared to allow us to carry commercial passengers when we’re ready to do so,” Virgin Galactic CEO Michael Colglazier told CNBC.\n\n2. Fed’s favorite inflation indicator set for release\nThe10-year Treasury yieldticked higher Friday,trading just under 1.5%, ahead of the 8:30 a.m. ET release of theFederal Reserve’s favorite inflation indicator. Economists expect the government’score personal consumption expenditures indexin May to rise 3.4% year over year and 0.6% month over month. At the same time, May personal income and spending figures are seen declining 2.7% and rising 0.4%, respectively. Income plunged 13.1% in April on the absence of the prior month’s Covid stimulus checks. Spending in April rose 0.5%.\n3. Infrastructure compromise includes $579 billion in new spending\nThe bipartisan infrastructure compromise includes$579 billion in new spending, with $312 billion of those funds going to transportation projects such as roads and bridges. The plan also puts $266 billion into nontransportation infrastructure, including power, water and broadband internet improvements. Only $15 billion goes to electric vehicle infrastructure and electric buses and transit, a fraction of what Biden first proposed. How they’re going to pay for all this remains under discussion. Democratic leaders on Capitol want to pass the bipartisan framework along with a larger bill to addresses more of their priorities without Republican votes.\n4. Search continues for survivors in Florida building collapse\nBiden has promised to provide federal aid, if requested, in the search for survivors of a partial beachfront condo building collapse outside Miami. At least one person was killed andnearly 100 people were still unaccounted for. Officials did not know how many people were in the tower when it fell early Thursday morning, around 1:30 a.m. ET, in Surfside. Florida Gov. Ron DeSantis, who toured the scene, said rescue crews are “doing everything they can to save lives. That is ongoing, and they’re not going to rest.” Authorities did not say what may have caused the collapse.\n5. Chauvin could face decadeslong sentence in Floyd’s death\nFormer Minneapolis police Officer Derek Chauvinwill be sentencedFriday for murder in George Floyd’s death, in a case that sparked global outrage and a reckoning on racial disparities in America. Legal experts predict that Chauvin, 45, could get 20 to 25 years. He was convicted of second-degree unintentional murder, third-degree murder and second-degree manslaughter. While he’s widely expected to appeal, Chauvin also faces trial on federal civil rights charges, along with three other fired officers who have yet to have their state trials.","news_type":1},"isVote":1,"tweetType":1,"viewCount":126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128418850,"gmtCreate":1624527244270,"gmtModify":1631891377896,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/128418850","repostId":"1166720474","repostType":4,"repost":{"id":"1166720474","pubTimestamp":1624523507,"share":"https://www.laohu8.com/m/news/1166720474?lang=&edition=full","pubTime":"2021-06-24 16:31","market":"us","language":"en","title":"Bank Of America: No. 1 Pick For An Inflation Hedge And CCAR Winner","url":"https://stock-news.laohu8.com/highlight/detail?id=1166720474","media":"seekingalpha","summary":"Summary\n\nIn recent months, I have been advocating buying Bank of America when interest rates are low","content":"<p><b>Summary</b></p>\n<ul>\n <li>In recent months, I have been advocating buying Bank of America when interest rates are low.</li>\n <li>The Fed is finally explicitly acknowledging inflation risks.</li>\n <li>I am taking advantage of recent dip in the share price of banks.</li>\n <li>The release of the CCAR stress tests should be a positive catalyst for BAC given substantial excess capital on its balance sheet.</li>\n <li>I have turned \"very bullish\" and have been accumulating the stock in recent days.</li>\n</ul>\n<p>The Fed is acknowledging inflation risks. It is now time to 'think about thinking about' tapering bond purchases. The \"dot points\" by the FOMC participants suggest that the Fed overnight rate may rise as early as 2022 (see below chart):</p>\n<p>The markets reacted somewhat strangely to the Fed's repositioning on inflation risks. Short-term interest rates rose whereby long treasuries' yield declined strongly, and therefore resulting in a flattening of the yield curve.</p>\n<p>When the curve flattens, the algorithmic selling of banks gets triggered - I do not mind at all, as I get to buy the dips on the likes of Citigroup (C) and Barclays (BCS).</p>\n<p>The conventional wisdom is that the Fed is looking to rein in inflation by raising rates earlier than expected and therefore a 'mini rotation' away from cyclicals to growth has taken place. Chairman Powell furtherreiterated this weekthe Fed's accommodative stance and noted that the FOMC's dot-point projections should be taken with \"a large grain of salt\".</p>\n<p>My base view is that moderate inflation (unlike the one we have seen in the 1970s) is on the cards and that is what is being engineered by the Fed. The global economy desperately needs inflation due to the massive amount of debt issued by governments in recent years. The only way to get out of the predicament we are in is to slowly (but surely) demonetize the debt. At the same time, the world economy cannot really afford high nominal interest rates or otherwise let inflation get completely out of control.</p>\n<p>So in the next few years, I expect moderately higher short-term interest rates, some form of yield curve control, and a steepening yield curve (especially at the long end). And this is quite a positive environment for financials and especially so for Bank of America (BAC).</p>\n<p><b>The most interest rates sensitive bank</b></p>\n<p>BAC is one of the most interest-sensitive banks in North America. This can be clearly seen in its most recent disclosure in theQ1'2021 10-Q:</p>\n<p><img src=\"https://static.tigerbbs.com/ec53741ffe4bdcf3ba47e66278a8ff79\" tg-width=\"640\" tg-height=\"420\" referrerpolicy=\"no-referrer\"></p>\n<p>As you can see from above, BAC is projected to benefit by an incremental $8.3 billion of pre-tax income where a parallel shift in interest rates of 100 basis points takes place. Most of the benefit, however, is in the short end (~$6.3 billion).</p>\n<p>It is important to note that the above projection is static (assuming instantaneous movement in interest rates) and does not take into account management actions. You can see, for example, the reduced sensitivity at the long end compared with 31 December disclosures. It appears that during Q1'2021, BAC has taken advantage of higher long-term yields and extended the duration of its securities portfolio.</p>\n<p><b>What is driving BAC interest rate sensitivity?</b></p>\n<p>BAC is a deposit-gathering monster with greater than $1.8T balances as ofQ1'2021.</p>\n<p>These deposits are typically very sticky and cut across the retail mass market, high-net-worth individuals, small businesses, and large corporates.</p>\n<p>Currently, with 0% overnight interest rates and the 10-year Treasury yielding less than 1.5%, the returns on this amazing deposit franchise are at a cyclical bottom.</p>\n<p>You can think of banks, in that context, as commodity producers. The commodity they are selling is \"interest rates\" and BAC is the lowest cost producer by far with ample capacity. The operating leverage built-in in this business model, when and if interest rates rise, is nothing short of exceptional.</p>\n<p>If you believe the forecast of the FOMC members for longer-term overnight rates of 2.5% (and naturally longer-term rates will be higher), then the incremental pre-tax income for BAC should be well in excess of $20 billion. To recap, BAC's current market cap is ~$320 billion, and the return on tangible equity during Q1'2021 has been in excess of 17 percent (even in the current low-interest rate environment). The upside is clear and significant.</p>\n<p><b>A CCAR winner</b></p>\n<p>The Fed is expected to release the results of the 2021 Comprehensive Capital Analysis and Review (CCAR) on Thursday 24th June after market close. CCAR is an annual exercise by the Federal Reserve designed to assess whether the largest banks operating in the United States have sufficient capital to continue operations throughout times of economic and financial stress.</p>\n<p>I expect BAC to pass with flying colours as they have done so in the last few CCAR cycles. After all, BAC has a relatively much lower risk profile compared to peer banks. This is evident from the lastCCAR stress testperformed in December 2020:</p>\n<p><img src=\"https://static.tigerbbs.com/43588f352e781a567b15e73f99313e89\" tg-width=\"640\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<p>As can be seen from above, the drawdown in its capital ratios during a forecasted severely adverse scenario is materially lower than the median.</p>\n<p>As such, I expect BAC to be bound by a requirement to hold a minimum common equity tier 1 (\"CET1\") ratio of 9.5%. Given that its current ratio is 11.8%, it is very clear that BAC has ample capacity to return capital to shareholders in the form of dividends and buybacks.</p>\n<p>Assuming a management buffer of 0.5% to 1.0%, I expect BAC to aim for a CET1 ratio of 10% to 10.5%. On the basis of excess capital and expected earnings for 2021, I expect BAC to return 125% to 150% of its 2021 earnings in the current CCAR cycle.</p>\n<p>This should translate to increased dividends as well as massive buybacks.</p>\n<p><b>Final thoughts</b></p>\n<p>I see BAC as a top stock to own in a moderate inflationary environment. The operating leverage embedded in its business model in a rising rates setting is nothing short of exceptional. It is also a great hedge to a portfolio comprising of defensive assets such as bonds and growth/large technology stocks.</p>\n<p>I have taken advantage of the recent dip in banks' share price and have been adding selectively in my favourite names. I have now turned \"very bullish\" on BAC. I also expect that the release of the CCAR results today will be quite a positive catalyst for banks and especially for BAC given the substantial excess capital on its balance sheet.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank Of America: No. 1 Pick For An Inflation Hedge And CCAR Winner</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\">\nBank Of America: No. 1 Pick For An Inflation Hedge And CCAR Winner\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 16:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436319-bank-of-america-no-1-pick-inflation-hedge-ccar-winner><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nIn recent months, I have been advocating buying Bank of America when interest rates are low.\nThe Fed is finally explicitly acknowledging inflation risks.\nI am taking advantage of recent dip ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436319-bank-of-america-no-1-pick-inflation-hedge-ccar-winner\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行"},"source_url":"https://seekingalpha.com/article/4436319-bank-of-america-no-1-pick-inflation-hedge-ccar-winner","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1166720474","content_text":"Summary\n\nIn recent months, I have been advocating buying Bank of America when interest rates are low.\nThe Fed is finally explicitly acknowledging inflation risks.\nI am taking advantage of recent dip in the share price of banks.\nThe release of the CCAR stress tests should be a positive catalyst for BAC given substantial excess capital on its balance sheet.\nI have turned \"very bullish\" and have been accumulating the stock in recent days.\n\nThe Fed is acknowledging inflation risks. It is now time to 'think about thinking about' tapering bond purchases. The \"dot points\" by the FOMC participants suggest that the Fed overnight rate may rise as early as 2022 (see below chart):\nThe markets reacted somewhat strangely to the Fed's repositioning on inflation risks. Short-term interest rates rose whereby long treasuries' yield declined strongly, and therefore resulting in a flattening of the yield curve.\nWhen the curve flattens, the algorithmic selling of banks gets triggered - I do not mind at all, as I get to buy the dips on the likes of Citigroup (C) and Barclays (BCS).\nThe conventional wisdom is that the Fed is looking to rein in inflation by raising rates earlier than expected and therefore a 'mini rotation' away from cyclicals to growth has taken place. Chairman Powell furtherreiterated this weekthe Fed's accommodative stance and noted that the FOMC's dot-point projections should be taken with \"a large grain of salt\".\nMy base view is that moderate inflation (unlike the one we have seen in the 1970s) is on the cards and that is what is being engineered by the Fed. The global economy desperately needs inflation due to the massive amount of debt issued by governments in recent years. The only way to get out of the predicament we are in is to slowly (but surely) demonetize the debt. At the same time, the world economy cannot really afford high nominal interest rates or otherwise let inflation get completely out of control.\nSo in the next few years, I expect moderately higher short-term interest rates, some form of yield curve control, and a steepening yield curve (especially at the long end). And this is quite a positive environment for financials and especially so for Bank of America (BAC).\nThe most interest rates sensitive bank\nBAC is one of the most interest-sensitive banks in North America. This can be clearly seen in its most recent disclosure in theQ1'2021 10-Q:\n\nAs you can see from above, BAC is projected to benefit by an incremental $8.3 billion of pre-tax income where a parallel shift in interest rates of 100 basis points takes place. Most of the benefit, however, is in the short end (~$6.3 billion).\nIt is important to note that the above projection is static (assuming instantaneous movement in interest rates) and does not take into account management actions. You can see, for example, the reduced sensitivity at the long end compared with 31 December disclosures. It appears that during Q1'2021, BAC has taken advantage of higher long-term yields and extended the duration of its securities portfolio.\nWhat is driving BAC interest rate sensitivity?\nBAC is a deposit-gathering monster with greater than $1.8T balances as ofQ1'2021.\nThese deposits are typically very sticky and cut across the retail mass market, high-net-worth individuals, small businesses, and large corporates.\nCurrently, with 0% overnight interest rates and the 10-year Treasury yielding less than 1.5%, the returns on this amazing deposit franchise are at a cyclical bottom.\nYou can think of banks, in that context, as commodity producers. The commodity they are selling is \"interest rates\" and BAC is the lowest cost producer by far with ample capacity. The operating leverage built-in in this business model, when and if interest rates rise, is nothing short of exceptional.\nIf you believe the forecast of the FOMC members for longer-term overnight rates of 2.5% (and naturally longer-term rates will be higher), then the incremental pre-tax income for BAC should be well in excess of $20 billion. To recap, BAC's current market cap is ~$320 billion, and the return on tangible equity during Q1'2021 has been in excess of 17 percent (even in the current low-interest rate environment). The upside is clear and significant.\nA CCAR winner\nThe Fed is expected to release the results of the 2021 Comprehensive Capital Analysis and Review (CCAR) on Thursday 24th June after market close. CCAR is an annual exercise by the Federal Reserve designed to assess whether the largest banks operating in the United States have sufficient capital to continue operations throughout times of economic and financial stress.\nI expect BAC to pass with flying colours as they have done so in the last few CCAR cycles. After all, BAC has a relatively much lower risk profile compared to peer banks. This is evident from the lastCCAR stress testperformed in December 2020:\n\nAs can be seen from above, the drawdown in its capital ratios during a forecasted severely adverse scenario is materially lower than the median.\nAs such, I expect BAC to be bound by a requirement to hold a minimum common equity tier 1 (\"CET1\") ratio of 9.5%. Given that its current ratio is 11.8%, it is very clear that BAC has ample capacity to return capital to shareholders in the form of dividends and buybacks.\nAssuming a management buffer of 0.5% to 1.0%, I expect BAC to aim for a CET1 ratio of 10% to 10.5%. On the basis of excess capital and expected earnings for 2021, I expect BAC to return 125% to 150% of its 2021 earnings in the current CCAR cycle.\nThis should translate to increased dividends as well as massive buybacks.\nFinal thoughts\nI see BAC as a top stock to own in a moderate inflationary environment. The operating leverage embedded in its business model in a rising rates setting is nothing short of exceptional. It is also a great hedge to a portfolio comprising of defensive assets such as bonds and growth/large technology stocks.\nI have taken advantage of the recent dip in banks' share price and have been adding selectively in my favourite names. I have now turned \"very bullish\" on BAC. I also expect that the release of the CCAR results today will be quite a positive catalyst for banks and especially for BAC given the substantial excess capital on its balance sheet.","news_type":1},"isVote":1,"tweetType":1,"viewCount":145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167974919,"gmtCreate":1624245067731,"gmtModify":1631891377916,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Like and share","listText":"Like and share","text":"Like and share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167974919","repostId":"1134946846","repostType":4,"repost":{"id":"1134946846","pubTimestamp":1624244425,"share":"https://www.laohu8.com/m/news/1134946846?lang=&edition=full","pubTime":"2021-06-21 11:00","market":"us","language":"en","title":"Stock market's most popular trade faces 'perfect storm'","url":"https://stock-news.laohu8.com/highlight/detail?id=1134946846","media":"FoxBusiness","summary":"Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares t","content":"<p>Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares to exit the emergency measures put in place during the pandemic, according to Bank of America.</p>\n<p>The Fed’s decision to end the easy money era of the pandemic sent shockwaves through the market and put the Dow Jones Industrial Average on track for its worst week since January.</p>\n<p>Cyclical stocks on Thursday, the day after the announcement, suffered their worst day in over a year when compared to defensive stocks as investors feared the central bank’s tapering could derail the economy. Cyclicals include sectors like industrials, energy and financials, whose performance is tied to the whims of the economy.</p>\n<p>A \"cyclical correction is now underway,\" wrote a team led by Michael Hartnett, chief investment strategist at Bank of America.</p>\n<p>He noted this week’s hawkish shift by the Fed is \"bad news\" and adds to the troubles that were presented by excess positioning, China tightening and fading hopes of additional fiscal stimulus in the U.S.</p>\n<p>The Fed on Wednesday held its benchmark interest rate near zero and maintained its bond-buying program at a pace of $120 billion per month, but moved up the forecast for its first rate hike to 2023 from 2024. More members, but not a majority, said the first rate hike could occur in 2022. The central bank also teased an end to its asset purchase program, but did not give any specifics as to when the tapering might begin.</p>\n<p>The Fed last year cut interest rates to near zero and pledged to buy an unlimited amount of assets to support the U.S. economy through its sharpest economic slowdown of the post-World War II era.</p>\n<p>The yield on the 10-year bond note fell to 1.45% on Friday in response to the Fed’s tightening plans. It hit a high of 1.75% on March 31.</p>\n<p>David Rosenberg, chief economist and strategist at Toronto-based Rosenberg Research says that adjusted for interest rates, the S&amp;P 500 is 20% above its intrinsic value.</p>\n<p>He believes investors would be foolish to ignore the signal that real rates, or those adjusted for inflation, are sending to the stock market.</p>\n<p>\"Overweighting&nbsp;defensive sectors and secular growth segments that tend to benefit&nbsp;by a sharp slowing in GDP growth, is a sound strategy,\" he wrote. \"At the same&nbsp;time, if the message from real rates proves&nbsp;prescient, investors will&nbsp;be well advised to trim their cyclical exposures.\"</p>","source":"lsy1610518597439","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>Stock market's most popular trade faces 'perfect storm'</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\">\nStock market's most popular trade faces 'perfect storm'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.foxbusiness.com/markets/stock-market-most-popular-trade-being-turned-upside-down><strong>FoxBusiness</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares to exit the emergency measures put in place during the pandemic, according to Bank of America.\nThe ...</p>\n\n<a href=\"https://www.foxbusiness.com/markets/stock-market-most-popular-trade-being-turned-upside-down\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.foxbusiness.com/markets/stock-market-most-popular-trade-being-turned-upside-down","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134946846","content_text":"Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares to exit the emergency measures put in place during the pandemic, according to Bank of America.\nThe Fed’s decision to end the easy money era of the pandemic sent shockwaves through the market and put the Dow Jones Industrial Average on track for its worst week since January.\nCyclical stocks on Thursday, the day after the announcement, suffered their worst day in over a year when compared to defensive stocks as investors feared the central bank’s tapering could derail the economy. Cyclicals include sectors like industrials, energy and financials, whose performance is tied to the whims of the economy.\nA \"cyclical correction is now underway,\" wrote a team led by Michael Hartnett, chief investment strategist at Bank of America.\nHe noted this week’s hawkish shift by the Fed is \"bad news\" and adds to the troubles that were presented by excess positioning, China tightening and fading hopes of additional fiscal stimulus in the U.S.\nThe Fed on Wednesday held its benchmark interest rate near zero and maintained its bond-buying program at a pace of $120 billion per month, but moved up the forecast for its first rate hike to 2023 from 2024. More members, but not a majority, said the first rate hike could occur in 2022. The central bank also teased an end to its asset purchase program, but did not give any specifics as to when the tapering might begin.\nThe Fed last year cut interest rates to near zero and pledged to buy an unlimited amount of assets to support the U.S. economy through its sharpest economic slowdown of the post-World War II era.\nThe yield on the 10-year bond note fell to 1.45% on Friday in response to the Fed’s tightening plans. It hit a high of 1.75% on March 31.\nDavid Rosenberg, chief economist and strategist at Toronto-based Rosenberg Research says that adjusted for interest rates, the S&P 500 is 20% above its intrinsic value.\nHe believes investors would be foolish to ignore the signal that real rates, or those adjusted for inflation, are sending to the stock market.\n\"Overweighting defensive sectors and secular growth segments that tend to benefit by a sharp slowing in GDP growth, is a sound strategy,\" he wrote. \"At the same time, if the message from real rates proves prescient, investors will be well advised to trim their cyclical exposures.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":84,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165895219,"gmtCreate":1624113592731,"gmtModify":1631891377919,"author":{"id":"3571972935337090","authorId":"3571972935337090","name":"tymmmmmm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571972935337090","idStr":"3571972935337090"},"themes":[],"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165895219","repostId":"1138062216","repostType":4,"repost":{"id":"1138062216","pubTimestamp":1624029740,"share":"https://www.laohu8.com/m/news/1138062216?lang=&edition=full","pubTime":"2021-06-18 23:22","market":"us","language":"en","title":"Energy stocks roar toward their best year in three decades amid recovery in oil","url":"https://stock-news.laohu8.com/highlight/detail?id=1138062216","media":"cnbc","summary":"It’s six months into 2021, andenergy stocksare already on pace for their best year in more than thre","content":"<div>\n<p>It’s six months into 2021, andenergy stocksare already on pace for their best year in more than three decades, leading some to believe the run may be due for a pullback.\nThe group pulled back on ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/18/energy-stocks-roar-toward-their-best-year-in-three-decades-amid-recovery-in-oil.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Energy stocks roar toward their best year in three decades amid recovery in oil</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\">\nEnergy stocks roar toward their best year in three decades amid recovery in oil\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 23:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/18/energy-stocks-roar-toward-their-best-year-in-three-decades-amid-recovery-in-oil.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s six months into 2021, andenergy stocksare already on pace for their best year in more than three decades, leading some to believe the run may be due for a pullback.\nThe group pulled back on ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/18/energy-stocks-roar-toward-their-best-year-in-three-decades-amid-recovery-in-oil.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DVN":"德文能源","EOG":"依欧格资源","MRO":"马拉松石油","FANG":"Diamondback Energy"},"source_url":"https://www.cnbc.com/2021/06/18/energy-stocks-roar-toward-their-best-year-in-three-decades-amid-recovery-in-oil.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138062216","content_text":"It’s six months into 2021, andenergy stocksare already on pace for their best year in more than three decades, leading some to believe the run may be due for a pullback.\nThe group pulled back on Thursday and Friday, but is still up more than 40% for the year. That’s almost double the 23% return for the real estate sector, which is the second-best sector. The S&P 500 is up nearly 12% this year.\nEnergy’s big start to the year means that even if the sector goes nowhere for the rest of 2021, it will still be the best year since 1990 by nearly 10%, according to Bay Crest Partners chief market technician Jonathan Krinsky.\nThe surge in energy stocks comes on the back of a recovery in oil prices, and as investors return to areas of the market that were left out of 2020′s rebound from the pandemic lows. The sector was also starting from a low base. In 2020, the group fell 37.3% for its worst performance since inception in 1989.\nKrinsky is among those saying the upside move is overdone, and his call is to sell crude oil and energy stocks broadly. From a technical standpoint, he noted that the $420 to $450 level acted as support — a floor — for the group during the last decade. But then during the Covid sell-off, the sector plunged below that key level — breaking below $200 — as the pandemic ground economies around the world to a halt.\n\nThe S&P Energy Sector has since recovered and traded as high as $420 on Thursday, inching closer to their prior support level, which now acts as resistance, or where an uptrend could be expected to reverse.\n“Oftentimes when you break a very important support like that, once you come back and test it as resistance, it’s difficult to exceed that — at least on the first try,” Krinsky noted.\nGauging performance from Jan. 1 might seem arbitrary, but he added that the sector’s outperformance is notable from virtually any date. Over the last eight months, the group has returned over 90%, which Krinsky says is more than two times the prior largest such gain over the last three decades.\n“Even on a rolling basis this is somewhat unprecedented,” he said. His bearish call on the sector also stems from other commodities breaking down, including lumber and copper. The latter is now breaking its uptrend, and Krinsky noted that copper was a leading indicator for the 2020 low, hitting a bottom one month ahead of West Texas Intermediate Crude futures.\nTOP-PERFORMING S&P 500 ENERGY STOCKS THIS YEAR\n\n\n\nTICKER\nCOMPANY\nPRICE\n%CHANGE\nYIELD\nPREVIOUS CLOSE\n\n\n\n\nMRO\nMarathon Oil Corp\n12.83\n-0.4655\n12.83\n12.89\n\n\nFANG\nDiamondback Energy Inc\n86.23\n-0.7596\n86.23\n86.89\n\n\nDVN\nDevon Energy Corp\n27.22\n-1.3411\n27.22\n27.59\n\n\nEOG\nEOG Resources Inc\n80.795\n-0.7798\n80.795\n81.43\n\n\n\nWithin the sector,Marathon Oilhas gained nearly 93% this year, making it the top-performing energy stock in the S&P 500.\nDiamondback Energyrose about 80% year to date, andDevon Energyclimbed more than 70%.OccidentalandEOG Resourcesare up more than 60%.\nAmid the outperformance the group remains unloved by Wall Street as factors – including environmental, social and corporate governance investing – prompt investors to shy away from the sector. Bank of America recently noted that the entire sector makes up just 2% of the average long-only portfolio, or less than half the allocation toward Facebook, which sits at 4.2%.\nEnergy still comprises a tiny portion of the S&P 500, but as the sector’s weighting grows, fund managers who shun the space could risk returns.\nMRB Partners on Thursday reiterated its overweight rating on the group, saying the recovery in demand for petroleum products, coupled with ongoing supply constraints, should push oil prices higher, leading to further returns for energy stocks.\n“Strengthening cash flows, leaner cost structures, and better capital discipline position the industry to moderately increase capital returns to shareholders,” strategists led by Salvatore Ruscitti wrote in a note to clients. “Relative performance will benefit from the reflationary backdrop and our expectations for a softer U.S. dollar.”\nWhen it comes to specific stocks, Gilman Hill Asset Management CEO Jenny Harrington owns names includingChevron,OneokandKinder Morgan. She noted on Thursday’s“Halftime Report”that it’s important to look at the whole picture. While oil is at its highest level in nearly two and a half years, it’s trading at about half the level it was just a few years ago. On the flip side, it’s well above where it traded in June of 2020 as the pandemic took hold.\n“They’re all trading at a fraction of the market multiple,” Harrington said of the energy stocks she owns. “They all have hefty dividend yields,” she added, arguing that strong earnings growth means “there’s a lot of room to go here.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":55,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}