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2021-06-29

waaa

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

2021-06-29

woah

CVRx Pursues $100 Million U.S. IPO Plan

2021-07-24

$UEX Corp.(UEXCF)$gg

2021-06-30

bullish

2021-06-30

$UEX Corp.(UEXCF)$wiw

2021-06-29

https://www.tigerbrokers.com.sg/activity/market/2021/7th-anniversary/*K86S6V-index.html?feature=Banner&Page=Me&lang=en_US&skin=1&edition=fundamental&invite=K86S6V

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2021-06-29

wa

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2021-06-29

wa

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2021-06-29

wa

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2021-06-29

wa

3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will

2021-06-29

waah

Meme stocks are blazing hot, once again.

2021-06-29

moo

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2021-06-28

woawlawoa

Bitcoin to become legal tender in El Salvador on Sept 7

2021-06-28

owowowowwo

FedEx is falling despite beating earnings expectations; UPS drops too

2021-06-28

woawwwaaaa

Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments

2021-06-28

niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg

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2021-06-28

wa

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2021-06-28

wa

All 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks

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21:23","market":"us","language":"en","title":"3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will","url":"https://stock-news.laohu8.com/highlight/detail?id=2146983887","media":"Motley Fool","summary":"No, they won't deliver the returns going forward that AMC has so far this year. But neither will AMC.","content":"<p>If you'd invested $10,000 in&nbsp;<b>AMC Entertainment</b> (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.</p>\n<p>However, there's something important to consider before buying AMC stock right now: Investing is focused on the future, not the past. Shares of the movie theater chain aren't going to generate those kinds of gains going forward. If they did, AMC would soon be more than three times bigger than <b>Apple</b>. That's extremely unlikely, to say the least.</p>\n<p>Still, it's possible that AMC will continue performing well (albeit not anywhere near its recent levels) over the next year or two as moviegoers return to theaters. The stock has made some investors quite wealthy over the last few months. But here are three stocks that could make you much richer over the long term than AMC will.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9cf5e28ce06825d2bfd9ebed7c7a4d8f\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Etsy</h2>\n<p><b>Etsy</b>'s (NASDAQ:ETSY) market cap of $23 billion is well below AMC's market cap of close to $29 billion. I'd argue that the popular e-commerce company has a much greater long-term opportunity than AMC does, though.</p>\n<p>First of all, Etsy practically owns the niche online market in personalized handcrafted goods. Others have attempted to beat the company on its own turf but have failed. There are still significant growth opportunities in this $250 billion annual market.</p>\n<p>However, the pandemic showed Etsy more than ever that it can compete in a larger arena. The company now thinks that its total addressable market is close to $1.7 trillion.</p>\n<p>One way that Etsy is going after this expanded market is through acquisitions. Most recently, the company announced plans to acquire Depop for $1.6 billion, a move that vaults Etsy into the clothing resale business.</p>\n<p>I think that Etsy is a stock that could be a 10-bagger over the long run. The odds of AMC having that level of gains going forward are slim.</p>\n<h2>Innovative Industrial Properties</h2>\n<p>Speaking of big market opportunities, the U.S. medical cannabis market is growing by leaps and bounds. So far, 36 states have legalized medical cannabis.&nbsp;<b>Innovative Industrial Properties</b> (NYSE:IIPR) stands out as a key beneficiary from this growth.</p>\n<p>The company is the leading real estate investment trust (REIT) focused on the medical cannabis industry. IIP's forte is sale-leaseback transactions. In these deals, the REIT buys properties from cannabis operators. The operators then lease the properties back with a long-term lease agreement.</p>\n<p>Over the last three years, IIP's revenue has soared 1,300%. Its profits have skyrocketed more than 2,200%. Investors have also made even more money from the company's dividends.</p>\n<p>IIP currently owns 72 properties in 18 states. It should be able to continue growing briskly by making more sale-leaseback deals in those states (which include several of the biggest medical cannabis markets in the U.S.) as well as expanding into additional states.</p>\n<h2>Intuitive Surgical</h2>\n<p>I recently wrote about my top stock to buy in June. My pick was robotic surgical systems pioneer <b>Intuitive Surgical</b> (NASDAQ:ISRG).</p>\n<p>Like AMC, Intuitive Surgical is a reopening play. Just as the COVID-19 pandemic shut down theaters, it also significantly impacted the volumes of non-emergency surgical procedures. Intuitive generates most of its revenue from selling replacement instruments and accessories for its da Vinci robotic surgical systems. Lower numbers of procedures meant lower revenue for the company.</p>\n<p>Prior to the pandemic, the number of movie tickets sold was declining. That's a not-so-great trend for AMC that could rear its ugly head again after a rebound in 2021 and 2022. Intuitive's procedure volume, though, has risen steadily for quite a while. Even with the pandemic, procedures still increased 1% year over year in 2020.</p>\n<p>Intuitive's long-term prospects are the main reason why I like this stock, though. The company has a huge growth opportunity targeting the procedures where it already has regulatory clearances. Even better, Intuitive thinks that it can more than triple its current addressable market by launching new products and securing additional regulatory clearances.</p>\n<p>Sure, Intuitive Surgical is already a big company with a market cap of over $100 billion. I think that it will be able to become a much larger company over the next decade and make investors who buy and hold the stock a lot of money.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 21:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you'd invested $10,000 in AMC Entertainment (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.\nHowever, ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IIPR":"Innovative Industrial Properties Inc","ISRG":"直觉外科公司","ETSY":"Etsy, Inc."},"source_url":"https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146983887","content_text":"If you'd invested $10,000 in AMC Entertainment (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.\nHowever, there's something important to consider before buying AMC stock right now: Investing is focused on the future, not the past. Shares of the movie theater chain aren't going to generate those kinds of gains going forward. If they did, AMC would soon be more than three times bigger than Apple. That's extremely unlikely, to say the least.\nStill, it's possible that AMC will continue performing well (albeit not anywhere near its recent levels) over the next year or two as moviegoers return to theaters. The stock has made some investors quite wealthy over the last few months. But here are three stocks that could make you much richer over the long term than AMC will.\nImage source: Getty Images.\nEtsy\nEtsy's (NASDAQ:ETSY) market cap of $23 billion is well below AMC's market cap of close to $29 billion. I'd argue that the popular e-commerce company has a much greater long-term opportunity than AMC does, though.\nFirst of all, Etsy practically owns the niche online market in personalized handcrafted goods. Others have attempted to beat the company on its own turf but have failed. There are still significant growth opportunities in this $250 billion annual market.\nHowever, the pandemic showed Etsy more than ever that it can compete in a larger arena. The company now thinks that its total addressable market is close to $1.7 trillion.\nOne way that Etsy is going after this expanded market is through acquisitions. Most recently, the company announced plans to acquire Depop for $1.6 billion, a move that vaults Etsy into the clothing resale business.\nI think that Etsy is a stock that could be a 10-bagger over the long run. The odds of AMC having that level of gains going forward are slim.\nInnovative Industrial Properties\nSpeaking of big market opportunities, the U.S. medical cannabis market is growing by leaps and bounds. So far, 36 states have legalized medical cannabis. Innovative Industrial Properties (NYSE:IIPR) stands out as a key beneficiary from this growth.\nThe company is the leading real estate investment trust (REIT) focused on the medical cannabis industry. IIP's forte is sale-leaseback transactions. In these deals, the REIT buys properties from cannabis operators. The operators then lease the properties back with a long-term lease agreement.\nOver the last three years, IIP's revenue has soared 1,300%. Its profits have skyrocketed more than 2,200%. Investors have also made even more money from the company's dividends.\nIIP currently owns 72 properties in 18 states. It should be able to continue growing briskly by making more sale-leaseback deals in those states (which include several of the biggest medical cannabis markets in the U.S.) as well as expanding into additional states.\nIntuitive Surgical\nI recently wrote about my top stock to buy in June. My pick was robotic surgical systems pioneer Intuitive Surgical (NASDAQ:ISRG).\nLike AMC, Intuitive Surgical is a reopening play. Just as the COVID-19 pandemic shut down theaters, it also significantly impacted the volumes of non-emergency surgical procedures. Intuitive generates most of its revenue from selling replacement instruments and accessories for its da Vinci robotic surgical systems. Lower numbers of procedures meant lower revenue for the company.\nPrior to the pandemic, the number of movie tickets sold was declining. That's a not-so-great trend for AMC that could rear its ugly head again after a rebound in 2021 and 2022. Intuitive's procedure volume, though, has risen steadily for quite a while. Even with the pandemic, procedures still increased 1% year over year in 2020.\nIntuitive's long-term prospects are the main reason why I like this stock, though. The company has a huge growth opportunity targeting the procedures where it already has regulatory clearances. Even better, Intuitive thinks that it can more than triple its current addressable market by launching new products and securing additional regulatory clearances.\nSure, Intuitive Surgical is already a big company with a market cap of over $100 billion. I think that it will be able to become a much larger company over the next decade and make investors who buy and hold the stock a lot of money.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159923558,"gmtCreate":1624937111474,"gmtModify":1633946755479,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"waah","listText":"waah","text":"waah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159923558","repostId":"1148481357","repostType":4,"repost":{"id":"1148481357","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624888651,"share":"https://www.laohu8.com/m/news/1148481357?lang=&edition=full","pubTime":"2021-06-28 21:57","market":"us","language":"en","title":"Meme stocks are blazing hot, once again.","url":"https://stock-news.laohu8.com/highlight/detail?id=1148481357","media":"Tiger Newspress","summary":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed be","content":"<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; Beyond climbed between 5% and 7%.</p>\n<p><img src=\"https://static.tigerbbs.com/fb2694f87fdac29278fbf2a583a1bf36\" tg-width=\"390\" tg-height=\"743\" referrerpolicy=\"no-referrer\"></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>Meme stocks are blazing hot, once again.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMeme stocks are blazing hot, once again.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-28 21:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; Beyond climbed between 5% and 7%.</p>\n<p><img src=\"https://static.tigerbbs.com/fb2694f87fdac29278fbf2a583a1bf36\" tg-width=\"390\" tg-height=\"743\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","GME":"游戏驿站","WKHS":"Workhorse Group, Inc.","BBBY":"3B家居"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148481357","content_text":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed between 5% and 7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159929542,"gmtCreate":1624937039786,"gmtModify":1633946756410,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"woah","listText":"woah","text":"woah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159929542","repostId":"1124906464","repostType":4,"repost":{"id":"1124906464","kind":"news","pubTimestamp":1624936236,"share":"https://www.laohu8.com/m/news/1124906464?lang=&edition=full","pubTime":"2021-06-29 11:10","market":"us","language":"en","title":"CVRx Pursues $100 Million U.S. IPO Plan","url":"https://stock-news.laohu8.com/highlight/detail?id=1124906464","media":"seekingalpha","summary":"Summary\n\nCVRx has filed to raise $100 million in a U.S. IPO of its common stock.\nThe firm is commerc","content":"<p>Summary</p>\n<ul>\n <li>CVRx has filed to raise $100 million in a U.S. IPO of its common stock.</li>\n <li>The firm is commercializing a neuromodulation device for treating a certain type of heart failure condition.</li>\n <li>CVRX has rebounded from the negative effects of the COVID-19 pandemic but the IPO appears pricey, so I'll watch it from the sidelines.</li>\n <li>Looking for more investing ideas like this one? Get them exclusively at IPO Edge.</li>\n</ul>\n<p>CVRx (CVRX) has filed to raise $100 million in an IPO of its common stock, according to an S-1/Aregistration statement.</p>\n<p>The firm is commercializing a neurostimulation device to treat patients with systolic Heart failure symptoms.</p>\n<p>CVRX was negatively affected by the COVID-19 pandemic but has rebounded.</p>\n<p>However, the IPO appears pricey, so I'll watch it from the sidelines.</p>\n<p><b>Company and Technology</b></p>\n<p>Minneapolis, Minnesota-based CVRx was founded to develop its BAROSTIM device that sends persistent electrical pulses tobaroreceptors inside the wall of the carotid artery as a signal to the brain to modulate cardiovascular function.</p>\n<p>Management is headed by president and CEO NadimYaredwho has been with the firm since 2006 and was previously vice president and general manager of Medtronic Navigation.</p>\n<p>CVRx has received at least $330 million in equity investment from investors including Johnson &amp; Johnson, New Enterprise Associates, Cooperative Glide Healthcare, Vensana Capital, Action Potential Venture Capital and Treo Ventures.</p>\n<p><b>Customer Acquisition and Market</b></p>\n<p>The firm sells its BAROSTIM NEO to hospitals through its direct sales organizations in the U.S. and Germany and through distributors in other European countries.</p>\n<p>The firm saw a reduction in demand in 2020 due to the restriction of hospital access to patients with relevant conditions.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have risen as revenues have fluctuated, as the figures below indicate:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</b></p></td>\n   <td><p><b>Expenses vs. Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Percentage</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>155.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>160.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>97.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>The Selling, G&amp;A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&amp;A spend, rose to 0.3x in the most recent reporting period, as shown in the table below:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</b></p></td>\n   <td><p><b>Efficiency Rate</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Multiple</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>0.3</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>0.0</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>According to a 2016 marketresearch reportby Allied Market Research, the global market for neuromodulation is expected to reach $11.7 billion by 2022.</p>\n<p>This represents a forecast CAGR of 13.1% from 2016 to 2022.</p>\n<p>The main drivers for this expected growth are a growing geriatric population and a resulting increase in neurological disorders.</p>\n<p>Also, an increase in Alzheimer's and Parkinson's disease conditions also will likely add to demand.</p>\n<p><b>Financial Performance</b></p>\n<p>CVRx’s recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Rebounding topline revenue growth</p></li>\n <li><p>Increasing gross profit but uneven gross margin</p></li>\n <li><p>Growing operating losses</p></li>\n <li><p>Increasing cash used in operations</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ 2,860,000</p></td>\n   <td><p>66.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 6,053,000</p></td>\n   <td><p>-3.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 6,257,000</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gross Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Profit (Loss)</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ 1,993,000</p></td>\n   <td><p>55.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 4,613,000</p></td>\n   <td><p>0.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 4,574,000</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gross Margin</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>69.69%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>76.21%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>73.10%</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Operating Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Operating Profit (Loss)</p></td>\n   <td><p>Operating Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ (4,217,000)</p></td>\n   <td><p>-147.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (11,514,000)</p></td>\n   <td><p>-190.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (10,194,000)</p></td>\n   <td><p>-162.9%</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Net Income (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Net Income (Loss)</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ (8,627,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (14,109,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (14,633,000)</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Cash Flow From Operations</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Cash Flow From Operations</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ (5,038,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (16,096,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (12,785,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>As of March 31, 2021, CVRx had $54 million in cash and $32.1 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended March 31, 2021, was negative ($16.9 million).</p>\n<p><b>IPO Details</b></p>\n<p>CVRx intends to raise $100 million in gross proceeds from an IPO of its common stock, offering 6.25 million shares at a proposed midpoint price of $16.00 per share.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO, the company’s enterprise value at IPO would approximate $170.6 million, excluding the effects of underwriter over-allotment options.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 33.7%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Management says it will use the net proceeds from the IPO as follows:</p>\n<blockquote>\n Approximately $75.0 million to continue funding the expansion of our direct sales force and commercial organization related to BAROSTIM NEO in the U.S.;Approximately $12.0 million to fund research and development activities related to BAROSTIM Therapy; andThe remainder for working capital and general corporate purposes. (Source)\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Listed bookrunners of the IPO are JPMorgan, Piper Sandler, William Blair and Canaccord Genuity.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of relevant capitalization and valuation figures for the company:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Measure [TTM]</b></p></td>\n   <td><p><b>Amount</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Market Capitalization at IPO</p></td>\n   <td><p>$296,717,728</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$170,592,728</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>41.24</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>23.71</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>-13.70</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>-$0.97</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>33.70%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$16.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>-$16,946,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>-5.71%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>66.47%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p><b>Commentary</b></p>\n<p>CVRx is seeking public investment capital for its continued commercialization efforts.</p>\n<p>The company’s financials show the negative effects of the COVID-19 pandemic on its revenue trajectory in 2020 as hospitals cut back on patient access to its products.</p>\n<p>Revenue growth and gross profit appears to have rebounded significantly in Q1 2021, although some of this growth may represent pent-up demand and may not necessarily be representative of a more sustainable growth path going forward.</p>\n<p>Free cash flow for the twelve months ended March 31, 2021, was negative ($16.9 million).</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue grew sharply in 2020 as revenue growth stalled during that period; its Selling, G&amp;A efficiency rate has since increased to 0.3x in Q1 2021.</p>\n<p>The market opportunity for providing neuromodulation approaches to heart failure are significant and the firm appears well positioned to take advantage of a growing elderly patient population as the U.S. geriatric population grows substantially over the coming years.</p>\n<p>JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 36.8% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the reimbursement process and penetration, both within the U.S. and internationally, which varies greatly from region to region.</p>\n<p>As for valuation, management is asking investors to pay an EV/revenue multiple of 23.7x, which appears to be priced for perfection, especially so soon after its sales were negatively affected by the pandemic.</p>\n<p>While CVRx will likely have an impressive growth year in 2021, paying nearly 24x trailing EV/revenue and 41x on a price/sales multiple is excessive in my view.</p>\n<p>Expected IPO Pricing Date: June 29, 2021</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>CVRx Pursues $100 Million U.S. IPO Plan</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\">\nCVRx Pursues $100 Million U.S. IPO Plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-29 11:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436978-cvrx-pursues-100-million-us-ipo-plan><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nCVRx has filed to raise $100 million in a U.S. IPO of its common stock.\nThe firm is commercializing a neuromodulation device for treating a certain type of heart failure condition.\nCVRX has ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436978-cvrx-pursues-100-million-us-ipo-plan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CVRX":"CVRx, Inc."},"source_url":"https://seekingalpha.com/article/4436978-cvrx-pursues-100-million-us-ipo-plan","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1124906464","content_text":"Summary\n\nCVRx has filed to raise $100 million in a U.S. IPO of its common stock.\nThe firm is commercializing a neuromodulation device for treating a certain type of heart failure condition.\nCVRX has rebounded from the negative effects of the COVID-19 pandemic but the IPO appears pricey, so I'll watch it from the sidelines.\nLooking for more investing ideas like this one? Get them exclusively at IPO Edge.\n\nCVRx (CVRX) has filed to raise $100 million in an IPO of its common stock, according to an S-1/Aregistration statement.\nThe firm is commercializing a neurostimulation device to treat patients with systolic Heart failure symptoms.\nCVRX was negatively affected by the COVID-19 pandemic but has rebounded.\nHowever, the IPO appears pricey, so I'll watch it from the sidelines.\nCompany and Technology\nMinneapolis, Minnesota-based CVRx was founded to develop its BAROSTIM device that sends persistent electrical pulses tobaroreceptors inside the wall of the carotid artery as a signal to the brain to modulate cardiovascular function.\nManagement is headed by president and CEO NadimYaredwho has been with the firm since 2006 and was previously vice president and general manager of Medtronic Navigation.\nCVRx has received at least $330 million in equity investment from investors including Johnson & Johnson, New Enterprise Associates, Cooperative Glide Healthcare, Vensana Capital, Action Potential Venture Capital and Treo Ventures.\nCustomer Acquisition and Market\nThe firm sells its BAROSTIM NEO to hospitals through its direct sales organizations in the U.S. and Germany and through distributors in other European countries.\nThe firm saw a reduction in demand in 2020 due to the restriction of hospital access to patients with relevant conditions.\nSelling, G&A expenses as a percentage of total revenue have risen as revenues have fluctuated, as the figures below indicate:\n\n\n\nSelling, G&A\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nThree Mos. Ended March 31, 2021\n155.9%\n\n\n2020\n160.5%\n\n\n2019\n97.6%\n\n\n\n(Source)\nThe Selling, G&A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&A spend, rose to 0.3x in the most recent reporting period, as shown in the table below:\n\n\n\nSelling, G&A\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nThree Mos. Ended March 31, 2021\n0.3\n\n\n2020\n0.0\n\n\n\n(Source)\nAccording to a 2016 marketresearch reportby Allied Market Research, the global market for neuromodulation is expected to reach $11.7 billion by 2022.\nThis represents a forecast CAGR of 13.1% from 2016 to 2022.\nThe main drivers for this expected growth are a growing geriatric population and a resulting increase in neurological disorders.\nAlso, an increase in Alzheimer's and Parkinson's disease conditions also will likely add to demand.\nFinancial Performance\nCVRx’s recent financial results can be summarized as follows:\n\nRebounding topline revenue growth\nIncreasing gross profit but uneven gross margin\nGrowing operating losses\nIncreasing cash used in operations\n\nBelow are relevant financial results derived from the firm’s registration statement:\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nThree Mos. Ended March 31, 2021\n$ 2,860,000\n66.5%\n\n\n2020\n$ 6,053,000\n-3.3%\n\n\n2019\n$ 6,257,000\n\n\nGross Profit (Loss)\n\n\nPeriod\nGross Profit (Loss)\n% Variance vs. Prior\n\n\nThree Mos. Ended March 31, 2021\n$ 1,993,000\n55.0%\n\n\n2020\n$ 4,613,000\n0.9%\n\n\n2019\n$ 4,574,000\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nThree Mos. Ended March 31, 2021\n69.69%\n\n\n2020\n76.21%\n\n\n2019\n73.10%\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nThree Mos. Ended March 31, 2021\n$ (4,217,000)\n-147.4%\n\n\n2020\n$ (11,514,000)\n-190.2%\n\n\n2019\n$ (10,194,000)\n-162.9%\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nThree Mos. Ended March 31, 2021\n$ (8,627,000)\n\n\n2020\n$ (14,109,000)\n\n\n2019\n$ (14,633,000)\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nThree Mos. Ended March 31, 2021\n$ (5,038,000)\n\n\n2020\n$ (16,096,000)\n\n\n2019\n$ (12,785,000)\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nAs of March 31, 2021, CVRx had $54 million in cash and $32.1 million in total liabilities.\nFree cash flow during the twelve months ended March 31, 2021, was negative ($16.9 million).\nIPO Details\nCVRx intends to raise $100 million in gross proceeds from an IPO of its common stock, offering 6.25 million shares at a proposed midpoint price of $16.00 per share.\nNo existing shareholders have indicated an interest to purchase shares at the IPO price.\nAssuming a successful IPO, the company’s enterprise value at IPO would approximate $170.6 million, excluding the effects of underwriter over-allotment options.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 33.7%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.\nManagement says it will use the net proceeds from the IPO as follows:\n\n Approximately $75.0 million to continue funding the expansion of our direct sales force and commercial organization related to BAROSTIM NEO in the U.S.;Approximately $12.0 million to fund research and development activities related to BAROSTIM Therapy; andThe remainder for working capital and general corporate purposes. (Source)\n\nManagement’s presentation of the company roadshow isavailable here.\nListed bookrunners of the IPO are JPMorgan, Piper Sandler, William Blair and Canaccord Genuity.\nValuation Metrics\nBelow is a table of relevant capitalization and valuation figures for the company:\n\n\n\nMeasure [TTM]\nAmount\n\n\nMarket Capitalization at IPO\n$296,717,728\n\n\nEnterprise Value\n$170,592,728\n\n\nPrice / Sales\n41.24\n\n\nEV / Revenue\n23.71\n\n\nEV / EBITDA\n-13.70\n\n\nEarnings Per Share\n-$0.97\n\n\nFloat To Outstanding Shares Ratio\n33.70%\n\n\nProposed IPO Midpoint Price per Share\n$16.00\n\n\nNet Free Cash Flow\n-$16,946,000\n\n\nFree Cash Flow Yield Per Share\n-5.71%\n\n\nRevenue Growth Rate\n66.47%\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nCommentary\nCVRx is seeking public investment capital for its continued commercialization efforts.\nThe company’s financials show the negative effects of the COVID-19 pandemic on its revenue trajectory in 2020 as hospitals cut back on patient access to its products.\nRevenue growth and gross profit appears to have rebounded significantly in Q1 2021, although some of this growth may represent pent-up demand and may not necessarily be representative of a more sustainable growth path going forward.\nFree cash flow for the twelve months ended March 31, 2021, was negative ($16.9 million).\nSelling, G&A expenses as a percentage of total revenue grew sharply in 2020 as revenue growth stalled during that period; its Selling, G&A efficiency rate has since increased to 0.3x in Q1 2021.\nThe market opportunity for providing neuromodulation approaches to heart failure are significant and the firm appears well positioned to take advantage of a growing elderly patient population as the U.S. geriatric population grows substantially over the coming years.\nJPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 36.8% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company’s outlook is the reimbursement process and penetration, both within the U.S. and internationally, which varies greatly from region to region.\nAs for valuation, management is asking investors to pay an EV/revenue multiple of 23.7x, which appears to be priced for perfection, especially so soon after its sales were negatively affected by the pandemic.\nWhile CVRx will likely have an impressive growth year in 2021, paying nearly 24x trailing EV/revenue and 41x on a price/sales multiple is excessive in my view.\nExpected IPO Pricing Date: June 29, 2021","news_type":1},"isVote":1,"tweetType":1,"viewCount":405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159916868,"gmtCreate":1624935467154,"gmtModify":1633946775860,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"moo","listText":"moo","text":"moo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159916868","repostId":"2146025230","repostType":4,"isVote":1,"tweetType":1,"viewCount":221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159910544,"gmtCreate":1624935184388,"gmtModify":1633946778580,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"waaa","listText":"waaa","text":"waaa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159910544","repostId":"2147837316","repostType":4,"repost":{"id":"2147837316","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624921533,"share":"https://www.laohu8.com/m/news/2147837316?lang=&edition=full","pubTime":"2021-06-29 07:05","market":"us","language":"en","title":"Tech stock rally sends S&P and Nasdaq to record highs","url":"https://stock-news.laohu8.com/highlight/detail?id=2147837316","media":"Reuters","summary":" - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.The S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.In contrast, cycl","content":"<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech stock rally sends S&P and Nasdaq to record highs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech stock rally sends S&P and Nasdaq to record highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-29 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWTR":"Twitter","WBA":"沃尔格林联合博姿","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF","PSQ":"纳指反向ETF","QID":"纳指两倍做空ETF",".DJI":"道琼斯","NDAQ":"纳斯达克OMX交易所","SQQQ":"纳指三倍做空ETF","MU":"美光科技","QLD":"纳指两倍做多ETF",".IXIC":"NASDAQ Composite","NFLX":"奈飞","NVDA":"英伟达",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147837316","content_text":"(Reuters) - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.\nBig tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.\nThe S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.\nIn contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&P 500, down by 0.81% and 3.33%, respectively.\n“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.\nStovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&P 500 companies is expected to top 60%.\nThe Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.\nBoth the S&P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.\n“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.\nFacebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.\nOn the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.\nWith the S&P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.\nOn the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.\nVolume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":68,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127654142,"gmtCreate":1624847625586,"gmtModify":1633948020147,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"woawlawoa","listText":"woawlawoa","text":"woawlawoa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127654142","repostId":"2146021046","repostType":4,"isVote":1,"tweetType":1,"viewCount":222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127655016,"gmtCreate":1624847562935,"gmtModify":1633948021328,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"owowowowwo","listText":"owowowowwo","text":"owowowowwo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127655016","repostId":"1104882070","repostType":4,"repost":{"id":"1104882070","kind":"news","pubTimestamp":1624589020,"share":"https://www.laohu8.com/m/news/1104882070?lang=&edition=full","pubTime":"2021-06-25 10:43","market":"us","language":"en","title":"FedEx is falling despite beating earnings expectations; UPS drops too","url":"https://stock-news.laohu8.com/highlight/detail?id=1104882070","media":"seekingalpha","summary":"FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidanc","content":"<ul>\n <li>FedEx(NYSE:FDX)trades lower even after&nbsp;FQ4&nbsp;revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.</li>\n <li>Operating income rose 9% Y/Y to $1.97B during the quarter on an adjusted basis and the company reported an operating margin rate of 8.7% vs. 5.2% a year ago and 8.9% consensus. Improved network optimization and asset utilization enabled profit growth even with volume at a record.</li>\n <li>FedEx Ground reported revenue growth of 27% for the quarter. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package.</li>\n <li>Looking ahead, FedEx sees EPS of $20.50 to $21.50 for the full year vs $20.48 consensus. The profit guidance is before MTM retirement plan accounting adjustments and excludes estimated TNT Express integration expenses and costs associated with business realignment activities. \"We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns,\" says CFO Michael Lenz.</li>\n <li>Shares of FedEx aredown 4.04%AH to $291.50.UPSis&nbsp;down 2.25%.</li>\n <li>The FedEx conference call is likely to delve into thenetwork congestion issues the company has seen over the last few weeks.</li>\n</ul>","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>FedEx is falling despite beating earnings expectations; UPS drops too</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\">\nFedEx is falling despite beating earnings expectations; UPS drops too\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 10:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.\n...</p>\n\n<a href=\"https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UPS":"联合包裹","FDX":"联邦快递"},"source_url":"https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1104882070","content_text":"FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.\nOperating income rose 9% Y/Y to $1.97B during the quarter on an adjusted basis and the company reported an operating margin rate of 8.7% vs. 5.2% a year ago and 8.9% consensus. Improved network optimization and asset utilization enabled profit growth even with volume at a record.\nFedEx Ground reported revenue growth of 27% for the quarter. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package.\nLooking ahead, FedEx sees EPS of $20.50 to $21.50 for the full year vs $20.48 consensus. The profit guidance is before MTM retirement plan accounting adjustments and excludes estimated TNT Express integration expenses and costs associated with business realignment activities. \"We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns,\" says CFO Michael Lenz.\nShares of FedEx aredown 4.04%AH to $291.50.UPSis down 2.25%.\nThe FedEx conference call is likely to delve into thenetwork congestion issues the company has seen over the last few weeks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":41,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127666628,"gmtCreate":1624846600864,"gmtModify":1633948040839,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"woawwwaaaa","listText":"woawwwaaaa","text":"woawwwaaaa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127666628","repostId":"1180366049","repostType":4,"repost":{"id":"1180366049","kind":"news","pubTimestamp":1624598362,"share":"https://www.laohu8.com/m/news/1180366049?lang=&edition=full","pubTime":"2021-06-25 13:19","market":"us","language":"en","title":"Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1180366049","media":"Reuters","summary":"TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion","content":"<p>TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday.</p>\n<p>The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth.</p>\n<p>Panasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at times with executives trading barbs publicly.</p>\n<p>Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. That stake was worth $730 million at the end of March 2020. The shares have gained almost seven fold since then and closed up 3.5% at $679.82 apiece on Thursday.</p>\n<p>“The impact of crypto assets may have pushed Tesla’s share price above its intrinsic value, making it a good time to sell,” said Hideki Yasuda, an analyst at Ace Research Institute.</p>\n<p>Musk said in February his firm bought bitcoin and would take payment in the cryptocurrency, a decision he later reversed, and his comments on Twitter drive swings in the price of such assets.</p>\n<p>While Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. Panasonic’s shares were up 4.2% on Friday.</p>\n<p>The stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, but comes as the automaker is diversifying its own battery supply chain.</p>\n<p>Tesla has struck deals with South Korea’s LG Energy Solution, a unit of LG Chem, and China’s CATL, with Reuters reporting the latter is planning a plant in Shanghai near the automaker’s production base.</p>\n<p>Panasonic said earlier this year it would buy the shareshereof U.S. supply-chain software company Blue Yonder that it does not already own, in a $7.1 billion deal. Its biggest such deal in a decade, the price raised the eyebrows of analysts who pointed to the firm's spotty M&amp;A track record.</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>Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments</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\">\nPanasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 13:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday...</p>\n\n<a href=\"https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","PCRFY":"松下"},"source_url":"https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180366049","content_text":"TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday.\nThe sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth.\nPanasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at times with executives trading barbs publicly.\nPanasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. That stake was worth $730 million at the end of March 2020. The shares have gained almost seven fold since then and closed up 3.5% at $679.82 apiece on Thursday.\n“The impact of crypto assets may have pushed Tesla’s share price above its intrinsic value, making it a good time to sell,” said Hideki Yasuda, an analyst at Ace Research Institute.\nMusk said in February his firm bought bitcoin and would take payment in the cryptocurrency, a decision he later reversed, and his comments on Twitter drive swings in the price of such assets.\nWhile Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. Panasonic’s shares were up 4.2% on Friday.\nThe stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, but comes as the automaker is diversifying its own battery supply chain.\nTesla has struck deals with South Korea’s LG Energy Solution, a unit of LG Chem, and China’s CATL, with Reuters reporting the latter is planning a plant in Shanghai near the automaker’s production base.\nPanasonic said earlier this year it would buy the shareshereof U.S. supply-chain software company Blue Yonder that it does not already own, in a $7.1 billion deal. Its biggest such deal in a decade, the price raised the eyebrows of analysts who pointed to the firm's spotty M&A track record.","news_type":1},"isVote":1,"tweetType":1,"viewCount":96,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127666052,"gmtCreate":1624846580576,"gmtModify":1633948041431,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","listText":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","text":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127666052","repostId":"2146567027","repostType":4,"isVote":1,"tweetType":1,"viewCount":222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127668806,"gmtCreate":1624846550105,"gmtModify":1633948041918,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127668806","repostId":"1192734381","repostType":4,"isVote":1,"tweetType":1,"viewCount":318,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127681816,"gmtCreate":1624846152635,"gmtModify":1633948051178,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583800505467680","idStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127681816","repostId":"1108214079","repostType":4,"repost":{"id":"1108214079","kind":"news","pubTimestamp":1624607367,"share":"https://www.laohu8.com/m/news/1108214079?lang=&edition=full","pubTime":"2021-06-25 15:49","market":"us","language":"en","title":"All 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks","url":"https://stock-news.laohu8.com/highlight/detail?id=1108214079","media":"zerohedge","summary":"As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we a","content":"<p>As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve announced that all banks easily clearedtheir annual bill of health, acing their annual stress test which found that banks could suffer almost $500 billion in losses and still comfortably meet capital requirements, setting the scene for hundreds of billions in stock buybacks and dividends.</p>\n<p>The \"test\" showed the country’s biggest banks could withstand $474 billion in losses from loans and other positions, and still emerge with more than double the required high-quality common equity tier one, or CET1, capital relative to their risk-weighted assets.</p>\n<p>In a statement published by the Federal Reserve Board, the Fed said that the results of the annual bank stress test showed that large banks \"continue to have strong capital levels and could continue lending to households and businesses during a severe recession.\"</p>\n<p>\"Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery,\" said Vice Chair for Supervision Randal K. Quarles.</p>\n<p><b>All 23 large banks tested remained well above their risk-based minimum capital requirements,</b>and as laid out previously by the Board, the additional restrictions put in place during the COVID event will end. As a result, all large banks will be subject to the normal restrictions of the Board's stress capital buffer, or SCB, framework.</p>\n<p>The SCB framework was finalized last year and maintains strong capital requirements in the aggregate for large banks with an increase in requirements for the largest and most complex banks. It sets capital requirements via the stress tests, and as a result, banks are required to hold enough capital to survive a severe recession. If a bank does not stay above its capital requirements, which include the SCB, it is subject to automatic restrictions on capital distributions and discretionary bonus payments.</p>\n<p>Naturally this is great news,<b>and it means that banks no longer need the Fed's $120BN in monthly QE right?</b></p>\n<p>Joking aside, having aced their tests the six largest US banks - a group that also includes Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs - will now pay out approximately $142 billion in capital to shareholders, paving the way for them to double total shareholder payouts in the next four quarters, according to data compiled by Bloomberg based on estimates provided by analysts at Barclays Plc.</p>\n<p><img src=\"https://static.tigerbbs.com/0c0f4f744baea705298a632057a1089d\" tg-width=\"642\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p>\n<p>For those wondering just what the Fed \"tested\" for,this year's hypothetical scenarioincludes a \"severe\" global recession with substantial stress in commercial real estate and corporate debt markets:</p>\n<ul>\n <li>The unemployment rate rises by 4 percentage points to a peak of 10-3/4 percent.</li>\n <li>Gross domestic product falls 4 percent from the fourth quarter of 2020 through the third quarter of 2022.</li>\n <li>And asset prices decline sharply, with a 55 percent decline in equity prices (unclear how many trillions the Fed would have to inject in this scenario to stabilize stonks).</li>\n</ul>\n<p>Under that scenario, the Fed calculated that<b>the 23 large banks would collectively lose more than $470 billion, with nearly $160 billion losses from commercial real estate and corporate loans.</b></p>\n<p>Of banks headquartered in the US, investment banking groups Goldman Sachs and Morgan Stanley suffered the biggest hits to their capital ratios in the stress tests, with declines of 5.9 and 4.7 percentage points, respectively. This compared to an average decline of 2.4% points for the 23 banks that underwent the tests, which included the American subsidiaries of foreign banks with significant US operations.</p>\n<p><img src=\"https://static.tigerbbs.com/7cf2f5302333e2e68ae4bf1a48962627\" tg-width=\"819\" tg-height=\"620\" referrerpolicy=\"no-referrer\"></p>\n<p>Even in a worst case scenario capital ratios would decline to only 10.6%, still more than double their minimum requirements.</p>\n<p>Consumer debt accounted for a smaller portion of overall losses than previous years since most retail customers spent the past year paying down credit cards and other loans during the Covid-19 pandemic. But an increase in expected losses in commercial and industrial loans more than offset that decline. Nearly $160bn of the losses came from commercial real estate and corporate loans.</p>\n<p><img src=\"https://static.tigerbbs.com/602b5d94c01e097ef93f83f6b70ade10\" tg-width=\"956\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>A summary of how the various bank capital ratios would be impact under the Fed's stress scenarios is shown below.</p>\n<p><img src=\"https://static.tigerbbs.com/d8a6aa543d4ad0e3d044e4397a77ad2c\" tg-width=\"973\" tg-height=\"961\" referrerpolicy=\"no-referrer\"></p>\n<p>The Fed also said that, as expected, it would lift pandemic restrictions on bank share buybacks and dividends on June 30th after banks clear stress tests.</p>\n<p>The next step is on Monday, June 28: the Fed expects banks to wait until then to analyze the results of the stress tests before announcing any plans for new shareholder payouts, according to senior Fed officials. Then, after the market close, banks can unveil their capital distribution plans. From the tests, the Fed will also prescribe for each bank how much CET1 capital in excess of regulatory minimums they need to keep through a so-called stress capital buffer. The CET1 ratio measured against risk-weighted assets is a crucial benchmark of financial stability.</p>\n<p>Barclays analysts estimate the median bank out of the 20 relevant institutions it covers will return over 100 per cent of its earnings to shareholders over the next year, with capital returned to investors approaching $200bn.</p>\n<p>In immediate response, the market - which knew the outcome of the test well in advance - bid up bank stocks which rose in postmarket trading, with Bank of America leading the rally among big banks, rising 1.6%; Morgan Stanley +1%, Citigroup +0.9% and Wells Fargo +0.8%, JPMorgan +0.7%, Goldman Sachs +0.6%.</p>\n<p><img src=\"https://static.tigerbbs.com/f1c7c394ce7aae8679dfe85b5e987060\" tg-width=\"512\" tg-height=\"335\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a670e03c93a58825a2398a12f3756c6b\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p>\n<p>* * *</p>\n<p>And while all of the above was exactly as expected, overnight Credit Suisse repo guru Zoltan Poszar warned of a potentially troubling twist.</p>\n<p>In his latest Global Money Dispatch, Pozsar notes that among other things, today's stress test results will determine the stress capital buffers (SCB) large banks will have to hold in 2022, which will affect their CET1 minimums. Naturally,<b>lower SCBs allow the largest U.S. banks to run with higher G-SIB surcharges, and this trade-off is particularly important for J.P. Morgan.</b>According to Pozsar,&nbsp; the bank will be more willing to let its G-SIB surcharge climb to 5% this year from 4% last year if its SCB comes in around 2.5%, down from 3.3% currently. As a result, today's release may have \"<i>a big impact on the pricing of the year-end turn in FX swaps: if J.P. Morgan’s SCB drops a lot, year-end premia might shrink a lot from here.\"</i></p>\n<p>There's more: looking ahead to the June 30 expiration of stock buyback limitations, the Hungarian repo guru writes that<b>the upcoming wave of buybacks \"destroy balance sheet capacity in the banking system\" as banks that return capital to shareholders have less capital to leverage up.</b></p>\n<p>Here's the math:<i>with a 5% Supplemental Liquidity Ratio minimum at the holdco level,</i><i><b>banks run 20-times leverage, which means that $10 billion in stock buybacks means $200 billion less of banks’ demand for reserves, Treasuries, MBS, and deposits.</b></i></p>\n<p>This means that as banks rush to handout cash to shareholders, they will be forced to park even more reserves elsewhere... like for example the Fed's reverse repo facility. This “push” by banks to shed capacity and potentially some deposits will meet the “sucking sound” of the RRP facility in coming weeks. It comes as usage of the Fed's reverse repo facility has been rising by tens of billions daily and on Wednesday just hit a record $813.6 billion.</p>\n<p><img src=\"https://static.tigerbbs.com/391bdb2316b81ed40abaf3e0280d35a1\" tg-width=\"1170\" tg-height=\"628\" referrerpolicy=\"no-referrer\"></p>\n<p>Now imagine what will happen to the RRP facility if banks indeed proceed to repurchase $142BN in stock; applying Pozsar's 20x leverage multiple, this means that bank balance sheets will shrink by just under $3 trillion, including trillions in reserves which will have to be parked at the Fed, which also means that in the coming weeks usage on the Fed's reserve facility is set to explode to unprecedented levels. This in turn will only accelerate the next funding crisis (now that the banking system has shifted from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market) thanks to the Fed's IOER/RRP rate hike), as we described in \"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis.\"</p>\n<p>One final technical consideration from Zoltan is that the flattening of the yield curve in recent days hit bank stocks,<b>so banks may start buybacks on July 1st, which means banks might choose to stay liquid around quarter-end.</b>This will be an extra factor to consider in pricing the June quarter-end turn.</p>\n<p>As Pozsar concludes,<b>\"ample liquidity is ample only if banks are willing to trade it, and trading liquidity means giving it up, which large banks might not want to do when the “pull” of the o/n RRP facility can complicate re-starting buybacks as early as July 1st.</b>\"</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>All 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks</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\">\nAll 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 15:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WFC":"富国银行","KBE":"银行指数ETF-SPDR KBW","JPM":"摩根大通","GS":"高盛","C":"花旗","BAC":"美国银行","MS":"摩根士丹利"},"source_url":"https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108214079","content_text":"As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve announced that all banks easily clearedtheir annual bill of health, acing their annual stress test which found that banks could suffer almost $500 billion in losses and still comfortably meet capital requirements, setting the scene for hundreds of billions in stock buybacks and dividends.\nThe \"test\" showed the country’s biggest banks could withstand $474 billion in losses from loans and other positions, and still emerge with more than double the required high-quality common equity tier one, or CET1, capital relative to their risk-weighted assets.\nIn a statement published by the Federal Reserve Board, the Fed said that the results of the annual bank stress test showed that large banks \"continue to have strong capital levels and could continue lending to households and businesses during a severe recession.\"\n\"Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery,\" said Vice Chair for Supervision Randal K. Quarles.\nAll 23 large banks tested remained well above their risk-based minimum capital requirements,and as laid out previously by the Board, the additional restrictions put in place during the COVID event will end. As a result, all large banks will be subject to the normal restrictions of the Board's stress capital buffer, or SCB, framework.\nThe SCB framework was finalized last year and maintains strong capital requirements in the aggregate for large banks with an increase in requirements for the largest and most complex banks. It sets capital requirements via the stress tests, and as a result, banks are required to hold enough capital to survive a severe recession. If a bank does not stay above its capital requirements, which include the SCB, it is subject to automatic restrictions on capital distributions and discretionary bonus payments.\nNaturally this is great news,and it means that banks no longer need the Fed's $120BN in monthly QE right?\nJoking aside, having aced their tests the six largest US banks - a group that also includes Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs - will now pay out approximately $142 billion in capital to shareholders, paving the way for them to double total shareholder payouts in the next four quarters, according to data compiled by Bloomberg based on estimates provided by analysts at Barclays Plc.\n\nFor those wondering just what the Fed \"tested\" for,this year's hypothetical scenarioincludes a \"severe\" global recession with substantial stress in commercial real estate and corporate debt markets:\n\nThe unemployment rate rises by 4 percentage points to a peak of 10-3/4 percent.\nGross domestic product falls 4 percent from the fourth quarter of 2020 through the third quarter of 2022.\nAnd asset prices decline sharply, with a 55 percent decline in equity prices (unclear how many trillions the Fed would have to inject in this scenario to stabilize stonks).\n\nUnder that scenario, the Fed calculated thatthe 23 large banks would collectively lose more than $470 billion, with nearly $160 billion losses from commercial real estate and corporate loans.\nOf banks headquartered in the US, investment banking groups Goldman Sachs and Morgan Stanley suffered the biggest hits to their capital ratios in the stress tests, with declines of 5.9 and 4.7 percentage points, respectively. This compared to an average decline of 2.4% points for the 23 banks that underwent the tests, which included the American subsidiaries of foreign banks with significant US operations.\n\nEven in a worst case scenario capital ratios would decline to only 10.6%, still more than double their minimum requirements.\nConsumer debt accounted for a smaller portion of overall losses than previous years since most retail customers spent the past year paying down credit cards and other loans during the Covid-19 pandemic. But an increase in expected losses in commercial and industrial loans more than offset that decline. Nearly $160bn of the losses came from commercial real estate and corporate loans.\n\nA summary of how the various bank capital ratios would be impact under the Fed's stress scenarios is shown below.\n\nThe Fed also said that, as expected, it would lift pandemic restrictions on bank share buybacks and dividends on June 30th after banks clear stress tests.\nThe next step is on Monday, June 28: the Fed expects banks to wait until then to analyze the results of the stress tests before announcing any plans for new shareholder payouts, according to senior Fed officials. Then, after the market close, banks can unveil their capital distribution plans. From the tests, the Fed will also prescribe for each bank how much CET1 capital in excess of regulatory minimums they need to keep through a so-called stress capital buffer. The CET1 ratio measured against risk-weighted assets is a crucial benchmark of financial stability.\nBarclays analysts estimate the median bank out of the 20 relevant institutions it covers will return over 100 per cent of its earnings to shareholders over the next year, with capital returned to investors approaching $200bn.\nIn immediate response, the market - which knew the outcome of the test well in advance - bid up bank stocks which rose in postmarket trading, with Bank of America leading the rally among big banks, rising 1.6%; Morgan Stanley +1%, Citigroup +0.9% and Wells Fargo +0.8%, JPMorgan +0.7%, Goldman Sachs +0.6%.\n\n* * *\nAnd while all of the above was exactly as expected, overnight Credit Suisse repo guru Zoltan Poszar warned of a potentially troubling twist.\nIn his latest Global Money Dispatch, Pozsar notes that among other things, today's stress test results will determine the stress capital buffers (SCB) large banks will have to hold in 2022, which will affect their CET1 minimums. Naturally,lower SCBs allow the largest U.S. banks to run with higher G-SIB surcharges, and this trade-off is particularly important for J.P. Morgan.According to Pozsar,  the bank will be more willing to let its G-SIB surcharge climb to 5% this year from 4% last year if its SCB comes in around 2.5%, down from 3.3% currently. As a result, today's release may have \"a big impact on the pricing of the year-end turn in FX swaps: if J.P. Morgan’s SCB drops a lot, year-end premia might shrink a lot from here.\"\nThere's more: looking ahead to the June 30 expiration of stock buyback limitations, the Hungarian repo guru writes thatthe upcoming wave of buybacks \"destroy balance sheet capacity in the banking system\" as banks that return capital to shareholders have less capital to leverage up.\nHere's the math:with a 5% Supplemental Liquidity Ratio minimum at the holdco level,banks run 20-times leverage, which means that $10 billion in stock buybacks means $200 billion less of banks’ demand for reserves, Treasuries, MBS, and deposits.\nThis means that as banks rush to handout cash to shareholders, they will be forced to park even more reserves elsewhere... like for example the Fed's reverse repo facility. This “push” by banks to shed capacity and potentially some deposits will meet the “sucking sound” of the RRP facility in coming weeks. It comes as usage of the Fed's reverse repo facility has been rising by tens of billions daily and on Wednesday just hit a record $813.6 billion.\n\nNow imagine what will happen to the RRP facility if banks indeed proceed to repurchase $142BN in stock; applying Pozsar's 20x leverage multiple, this means that bank balance sheets will shrink by just under $3 trillion, including trillions in reserves which will have to be parked at the Fed, which also means that in the coming weeks usage on the Fed's reserve facility is set to explode to unprecedented levels. This in turn will only accelerate the next funding crisis (now that the banking system has shifted from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market) thanks to the Fed's IOER/RRP rate hike), as we described in \"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis.\"\nOne final technical consideration from Zoltan is that the flattening of the yield curve in recent days hit bank stocks,so banks may start buybacks on July 1st, which means banks might choose to stay liquid around quarter-end.This will be an extra factor to consider in pricing the June quarter-end turn.\nAs Pozsar concludes,\"ample liquidity is ample only if banks are willing to trade it, and trading liquidity means giving it up, which large banks might not want to do when the “pull” of the o/n RRP facility can complicate re-starting buybacks as early as July 1st.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":78,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":159910544,"gmtCreate":1624935184388,"gmtModify":1633946778580,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"waaa","listText":"waaa","text":"waaa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159910544","repostId":"2147837316","repostType":4,"repost":{"id":"2147837316","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624921533,"share":"https://www.laohu8.com/m/news/2147837316?lang=&edition=full","pubTime":"2021-06-29 07:05","market":"us","language":"en","title":"Tech stock rally sends S&P and Nasdaq to record highs","url":"https://stock-news.laohu8.com/highlight/detail?id=2147837316","media":"Reuters","summary":" - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.The S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.In contrast, cycl","content":"<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech stock rally sends S&P and Nasdaq to record highs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech stock rally sends S&P and Nasdaq to record highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-29 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWTR":"Twitter","WBA":"沃尔格林联合博姿","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF","PSQ":"纳指反向ETF","QID":"纳指两倍做空ETF",".DJI":"道琼斯","NDAQ":"纳斯达克OMX交易所","SQQQ":"纳指三倍做空ETF","MU":"美光科技","QLD":"纳指两倍做多ETF",".IXIC":"NASDAQ Composite","NFLX":"奈飞","NVDA":"英伟达",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147837316","content_text":"(Reuters) - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.\nBig tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.\nThe S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.\nIn contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&P 500, down by 0.81% and 3.33%, respectively.\n“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.\nStovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&P 500 companies is expected to top 60%.\nThe Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.\nBoth the S&P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.\n“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.\nFacebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.\nOn the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.\nWith the S&P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.\nOn the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.\nVolume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":68,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159929542,"gmtCreate":1624937039786,"gmtModify":1633946756410,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"woah","listText":"woah","text":"woah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159929542","repostId":"1124906464","repostType":4,"repost":{"id":"1124906464","kind":"news","pubTimestamp":1624936236,"share":"https://www.laohu8.com/m/news/1124906464?lang=&edition=full","pubTime":"2021-06-29 11:10","market":"us","language":"en","title":"CVRx Pursues $100 Million U.S. IPO Plan","url":"https://stock-news.laohu8.com/highlight/detail?id=1124906464","media":"seekingalpha","summary":"Summary\n\nCVRx has filed to raise $100 million in a U.S. IPO of its common stock.\nThe firm is commerc","content":"<p>Summary</p>\n<ul>\n <li>CVRx has filed to raise $100 million in a U.S. IPO of its common stock.</li>\n <li>The firm is commercializing a neuromodulation device for treating a certain type of heart failure condition.</li>\n <li>CVRX has rebounded from the negative effects of the COVID-19 pandemic but the IPO appears pricey, so I'll watch it from the sidelines.</li>\n <li>Looking for more investing ideas like this one? Get them exclusively at IPO Edge.</li>\n</ul>\n<p>CVRx (CVRX) has filed to raise $100 million in an IPO of its common stock, according to an S-1/Aregistration statement.</p>\n<p>The firm is commercializing a neurostimulation device to treat patients with systolic Heart failure symptoms.</p>\n<p>CVRX was negatively affected by the COVID-19 pandemic but has rebounded.</p>\n<p>However, the IPO appears pricey, so I'll watch it from the sidelines.</p>\n<p><b>Company and Technology</b></p>\n<p>Minneapolis, Minnesota-based CVRx was founded to develop its BAROSTIM device that sends persistent electrical pulses tobaroreceptors inside the wall of the carotid artery as a signal to the brain to modulate cardiovascular function.</p>\n<p>Management is headed by president and CEO NadimYaredwho has been with the firm since 2006 and was previously vice president and general manager of Medtronic Navigation.</p>\n<p>CVRx has received at least $330 million in equity investment from investors including Johnson &amp; Johnson, New Enterprise Associates, Cooperative Glide Healthcare, Vensana Capital, Action Potential Venture Capital and Treo Ventures.</p>\n<p><b>Customer Acquisition and Market</b></p>\n<p>The firm sells its BAROSTIM NEO to hospitals through its direct sales organizations in the U.S. and Germany and through distributors in other European countries.</p>\n<p>The firm saw a reduction in demand in 2020 due to the restriction of hospital access to patients with relevant conditions.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have risen as revenues have fluctuated, as the figures below indicate:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</b></p></td>\n   <td><p><b>Expenses vs. Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Percentage</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>155.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>160.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>97.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>The Selling, G&amp;A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&amp;A spend, rose to 0.3x in the most recent reporting period, as shown in the table below:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</b></p></td>\n   <td><p><b>Efficiency Rate</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Multiple</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>0.3</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>0.0</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>According to a 2016 marketresearch reportby Allied Market Research, the global market for neuromodulation is expected to reach $11.7 billion by 2022.</p>\n<p>This represents a forecast CAGR of 13.1% from 2016 to 2022.</p>\n<p>The main drivers for this expected growth are a growing geriatric population and a resulting increase in neurological disorders.</p>\n<p>Also, an increase in Alzheimer's and Parkinson's disease conditions also will likely add to demand.</p>\n<p><b>Financial Performance</b></p>\n<p>CVRx’s recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Rebounding topline revenue growth</p></li>\n <li><p>Increasing gross profit but uneven gross margin</p></li>\n <li><p>Growing operating losses</p></li>\n <li><p>Increasing cash used in operations</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ 2,860,000</p></td>\n   <td><p>66.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 6,053,000</p></td>\n   <td><p>-3.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 6,257,000</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gross Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Profit (Loss)</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ 1,993,000</p></td>\n   <td><p>55.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 4,613,000</p></td>\n   <td><p>0.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 4,574,000</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gross Margin</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>69.69%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>76.21%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>73.10%</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Operating Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Operating Profit (Loss)</p></td>\n   <td><p>Operating Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ (4,217,000)</p></td>\n   <td><p>-147.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (11,514,000)</p></td>\n   <td><p>-190.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (10,194,000)</p></td>\n   <td><p>-162.9%</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Net Income (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Net Income (Loss)</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ (8,627,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (14,109,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (14,633,000)</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Cash Flow From Operations</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Cash Flow From Operations</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ (5,038,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (16,096,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (12,785,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>As of March 31, 2021, CVRx had $54 million in cash and $32.1 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended March 31, 2021, was negative ($16.9 million).</p>\n<p><b>IPO Details</b></p>\n<p>CVRx intends to raise $100 million in gross proceeds from an IPO of its common stock, offering 6.25 million shares at a proposed midpoint price of $16.00 per share.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO, the company’s enterprise value at IPO would approximate $170.6 million, excluding the effects of underwriter over-allotment options.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 33.7%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Management says it will use the net proceeds from the IPO as follows:</p>\n<blockquote>\n Approximately $75.0 million to continue funding the expansion of our direct sales force and commercial organization related to BAROSTIM NEO in the U.S.;Approximately $12.0 million to fund research and development activities related to BAROSTIM Therapy; andThe remainder for working capital and general corporate purposes. (Source)\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Listed bookrunners of the IPO are JPMorgan, Piper Sandler, William Blair and Canaccord Genuity.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of relevant capitalization and valuation figures for the company:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Measure [TTM]</b></p></td>\n   <td><p><b>Amount</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Market Capitalization at IPO</p></td>\n   <td><p>$296,717,728</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$170,592,728</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>41.24</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>23.71</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>-13.70</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>-$0.97</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>33.70%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$16.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>-$16,946,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>-5.71%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>66.47%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p><b>Commentary</b></p>\n<p>CVRx is seeking public investment capital for its continued commercialization efforts.</p>\n<p>The company’s financials show the negative effects of the COVID-19 pandemic on its revenue trajectory in 2020 as hospitals cut back on patient access to its products.</p>\n<p>Revenue growth and gross profit appears to have rebounded significantly in Q1 2021, although some of this growth may represent pent-up demand and may not necessarily be representative of a more sustainable growth path going forward.</p>\n<p>Free cash flow for the twelve months ended March 31, 2021, was negative ($16.9 million).</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue grew sharply in 2020 as revenue growth stalled during that period; its Selling, G&amp;A efficiency rate has since increased to 0.3x in Q1 2021.</p>\n<p>The market opportunity for providing neuromodulation approaches to heart failure are significant and the firm appears well positioned to take advantage of a growing elderly patient population as the U.S. geriatric population grows substantially over the coming years.</p>\n<p>JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 36.8% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the reimbursement process and penetration, both within the U.S. and internationally, which varies greatly from region to region.</p>\n<p>As for valuation, management is asking investors to pay an EV/revenue multiple of 23.7x, which appears to be priced for perfection, especially so soon after its sales were negatively affected by the pandemic.</p>\n<p>While CVRx will likely have an impressive growth year in 2021, paying nearly 24x trailing EV/revenue and 41x on a price/sales multiple is excessive in my view.</p>\n<p>Expected IPO Pricing Date: June 29, 2021</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>CVRx Pursues $100 Million U.S. IPO Plan</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\">\nCVRx Pursues $100 Million U.S. IPO Plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-29 11:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436978-cvrx-pursues-100-million-us-ipo-plan><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nCVRx has filed to raise $100 million in a U.S. IPO of its common stock.\nThe firm is commercializing a neuromodulation device for treating a certain type of heart failure condition.\nCVRX has ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436978-cvrx-pursues-100-million-us-ipo-plan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CVRX":"CVRx, Inc."},"source_url":"https://seekingalpha.com/article/4436978-cvrx-pursues-100-million-us-ipo-plan","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1124906464","content_text":"Summary\n\nCVRx has filed to raise $100 million in a U.S. IPO of its common stock.\nThe firm is commercializing a neuromodulation device for treating a certain type of heart failure condition.\nCVRX has rebounded from the negative effects of the COVID-19 pandemic but the IPO appears pricey, so I'll watch it from the sidelines.\nLooking for more investing ideas like this one? Get them exclusively at IPO Edge.\n\nCVRx (CVRX) has filed to raise $100 million in an IPO of its common stock, according to an S-1/Aregistration statement.\nThe firm is commercializing a neurostimulation device to treat patients with systolic Heart failure symptoms.\nCVRX was negatively affected by the COVID-19 pandemic but has rebounded.\nHowever, the IPO appears pricey, so I'll watch it from the sidelines.\nCompany and Technology\nMinneapolis, Minnesota-based CVRx was founded to develop its BAROSTIM device that sends persistent electrical pulses tobaroreceptors inside the wall of the carotid artery as a signal to the brain to modulate cardiovascular function.\nManagement is headed by president and CEO NadimYaredwho has been with the firm since 2006 and was previously vice president and general manager of Medtronic Navigation.\nCVRx has received at least $330 million in equity investment from investors including Johnson & Johnson, New Enterprise Associates, Cooperative Glide Healthcare, Vensana Capital, Action Potential Venture Capital and Treo Ventures.\nCustomer Acquisition and Market\nThe firm sells its BAROSTIM NEO to hospitals through its direct sales organizations in the U.S. and Germany and through distributors in other European countries.\nThe firm saw a reduction in demand in 2020 due to the restriction of hospital access to patients with relevant conditions.\nSelling, G&A expenses as a percentage of total revenue have risen as revenues have fluctuated, as the figures below indicate:\n\n\n\nSelling, G&A\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nThree Mos. Ended March 31, 2021\n155.9%\n\n\n2020\n160.5%\n\n\n2019\n97.6%\n\n\n\n(Source)\nThe Selling, G&A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&A spend, rose to 0.3x in the most recent reporting period, as shown in the table below:\n\n\n\nSelling, G&A\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nThree Mos. Ended March 31, 2021\n0.3\n\n\n2020\n0.0\n\n\n\n(Source)\nAccording to a 2016 marketresearch reportby Allied Market Research, the global market for neuromodulation is expected to reach $11.7 billion by 2022.\nThis represents a forecast CAGR of 13.1% from 2016 to 2022.\nThe main drivers for this expected growth are a growing geriatric population and a resulting increase in neurological disorders.\nAlso, an increase in Alzheimer's and Parkinson's disease conditions also will likely add to demand.\nFinancial Performance\nCVRx’s recent financial results can be summarized as follows:\n\nRebounding topline revenue growth\nIncreasing gross profit but uneven gross margin\nGrowing operating losses\nIncreasing cash used in operations\n\nBelow are relevant financial results derived from the firm’s registration statement:\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nThree Mos. Ended March 31, 2021\n$ 2,860,000\n66.5%\n\n\n2020\n$ 6,053,000\n-3.3%\n\n\n2019\n$ 6,257,000\n\n\nGross Profit (Loss)\n\n\nPeriod\nGross Profit (Loss)\n% Variance vs. Prior\n\n\nThree Mos. Ended March 31, 2021\n$ 1,993,000\n55.0%\n\n\n2020\n$ 4,613,000\n0.9%\n\n\n2019\n$ 4,574,000\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nThree Mos. Ended March 31, 2021\n69.69%\n\n\n2020\n76.21%\n\n\n2019\n73.10%\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nThree Mos. Ended March 31, 2021\n$ (4,217,000)\n-147.4%\n\n\n2020\n$ (11,514,000)\n-190.2%\n\n\n2019\n$ (10,194,000)\n-162.9%\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nThree Mos. Ended March 31, 2021\n$ (8,627,000)\n\n\n2020\n$ (14,109,000)\n\n\n2019\n$ (14,633,000)\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nThree Mos. Ended March 31, 2021\n$ (5,038,000)\n\n\n2020\n$ (16,096,000)\n\n\n2019\n$ (12,785,000)\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nAs of March 31, 2021, CVRx had $54 million in cash and $32.1 million in total liabilities.\nFree cash flow during the twelve months ended March 31, 2021, was negative ($16.9 million).\nIPO Details\nCVRx intends to raise $100 million in gross proceeds from an IPO of its common stock, offering 6.25 million shares at a proposed midpoint price of $16.00 per share.\nNo existing shareholders have indicated an interest to purchase shares at the IPO price.\nAssuming a successful IPO, the company’s enterprise value at IPO would approximate $170.6 million, excluding the effects of underwriter over-allotment options.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 33.7%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.\nManagement says it will use the net proceeds from the IPO as follows:\n\n Approximately $75.0 million to continue funding the expansion of our direct sales force and commercial organization related to BAROSTIM NEO in the U.S.;Approximately $12.0 million to fund research and development activities related to BAROSTIM Therapy; andThe remainder for working capital and general corporate purposes. (Source)\n\nManagement’s presentation of the company roadshow isavailable here.\nListed bookrunners of the IPO are JPMorgan, Piper Sandler, William Blair and Canaccord Genuity.\nValuation Metrics\nBelow is a table of relevant capitalization and valuation figures for the company:\n\n\n\nMeasure [TTM]\nAmount\n\n\nMarket Capitalization at IPO\n$296,717,728\n\n\nEnterprise Value\n$170,592,728\n\n\nPrice / Sales\n41.24\n\n\nEV / Revenue\n23.71\n\n\nEV / EBITDA\n-13.70\n\n\nEarnings Per Share\n-$0.97\n\n\nFloat To Outstanding Shares Ratio\n33.70%\n\n\nProposed IPO Midpoint Price per Share\n$16.00\n\n\nNet Free Cash Flow\n-$16,946,000\n\n\nFree Cash Flow Yield Per Share\n-5.71%\n\n\nRevenue Growth Rate\n66.47%\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nCommentary\nCVRx is seeking public investment capital for its continued commercialization efforts.\nThe company’s financials show the negative effects of the COVID-19 pandemic on its revenue trajectory in 2020 as hospitals cut back on patient access to its products.\nRevenue growth and gross profit appears to have rebounded significantly in Q1 2021, although some of this growth may represent pent-up demand and may not necessarily be representative of a more sustainable growth path going forward.\nFree cash flow for the twelve months ended March 31, 2021, was negative ($16.9 million).\nSelling, G&A expenses as a percentage of total revenue grew sharply in 2020 as revenue growth stalled during that period; its Selling, G&A efficiency rate has since increased to 0.3x in Q1 2021.\nThe market opportunity for providing neuromodulation approaches to heart failure are significant and the firm appears well positioned to take advantage of a growing elderly patient population as the U.S. geriatric population grows substantially over the coming years.\nJPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 36.8% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company’s outlook is the reimbursement process and penetration, both within the U.S. and internationally, which varies greatly from region to region.\nAs for valuation, management is asking investors to pay an EV/revenue multiple of 23.7x, which appears to be priced for perfection, especially so soon after its sales were negatively affected by the pandemic.\nWhile CVRx will likely have an impressive growth year in 2021, paying nearly 24x trailing EV/revenue and 41x on a price/sales multiple is excessive in my view.\nExpected IPO Pricing Date: June 29, 2021","news_type":1},"isVote":1,"tweetType":1,"viewCount":405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174641708,"gmtCreate":1627097454104,"gmtModify":1633767985934,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>gg","listText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>gg","text":"$UEX 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21:23","market":"us","language":"en","title":"3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will","url":"https://stock-news.laohu8.com/highlight/detail?id=2146983887","media":"Motley Fool","summary":"No, they won't deliver the returns going forward that AMC has so far this year. But neither will AMC.","content":"<p>If you'd invested $10,000 in&nbsp;<b>AMC Entertainment</b> (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.</p>\n<p>However, there's something important to consider before buying AMC stock right now: Investing is focused on the future, not the past. Shares of the movie theater chain aren't going to generate those kinds of gains going forward. If they did, AMC would soon be more than three times bigger than <b>Apple</b>. That's extremely unlikely, to say the least.</p>\n<p>Still, it's possible that AMC will continue performing well (albeit not anywhere near its recent levels) over the next year or two as moviegoers return to theaters. The stock has made some investors quite wealthy over the last few months. But here are three stocks that could make you much richer over the long term than AMC will.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9cf5e28ce06825d2bfd9ebed7c7a4d8f\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Etsy</h2>\n<p><b>Etsy</b>'s (NASDAQ:ETSY) market cap of $23 billion is well below AMC's market cap of close to $29 billion. I'd argue that the popular e-commerce company has a much greater long-term opportunity than AMC does, though.</p>\n<p>First of all, Etsy practically owns the niche online market in personalized handcrafted goods. Others have attempted to beat the company on its own turf but have failed. There are still significant growth opportunities in this $250 billion annual market.</p>\n<p>However, the pandemic showed Etsy more than ever that it can compete in a larger arena. The company now thinks that its total addressable market is close to $1.7 trillion.</p>\n<p>One way that Etsy is going after this expanded market is through acquisitions. Most recently, the company announced plans to acquire Depop for $1.6 billion, a move that vaults Etsy into the clothing resale business.</p>\n<p>I think that Etsy is a stock that could be a 10-bagger over the long run. The odds of AMC having that level of gains going forward are slim.</p>\n<h2>Innovative Industrial Properties</h2>\n<p>Speaking of big market opportunities, the U.S. medical cannabis market is growing by leaps and bounds. So far, 36 states have legalized medical cannabis.&nbsp;<b>Innovative Industrial Properties</b> (NYSE:IIPR) stands out as a key beneficiary from this growth.</p>\n<p>The company is the leading real estate investment trust (REIT) focused on the medical cannabis industry. IIP's forte is sale-leaseback transactions. In these deals, the REIT buys properties from cannabis operators. The operators then lease the properties back with a long-term lease agreement.</p>\n<p>Over the last three years, IIP's revenue has soared 1,300%. Its profits have skyrocketed more than 2,200%. Investors have also made even more money from the company's dividends.</p>\n<p>IIP currently owns 72 properties in 18 states. It should be able to continue growing briskly by making more sale-leaseback deals in those states (which include several of the biggest medical cannabis markets in the U.S.) as well as expanding into additional states.</p>\n<h2>Intuitive Surgical</h2>\n<p>I recently wrote about my top stock to buy in June. My pick was robotic surgical systems pioneer <b>Intuitive Surgical</b> (NASDAQ:ISRG).</p>\n<p>Like AMC, Intuitive Surgical is a reopening play. Just as the COVID-19 pandemic shut down theaters, it also significantly impacted the volumes of non-emergency surgical procedures. Intuitive generates most of its revenue from selling replacement instruments and accessories for its da Vinci robotic surgical systems. Lower numbers of procedures meant lower revenue for the company.</p>\n<p>Prior to the pandemic, the number of movie tickets sold was declining. That's a not-so-great trend for AMC that could rear its ugly head again after a rebound in 2021 and 2022. Intuitive's procedure volume, though, has risen steadily for quite a while. Even with the pandemic, procedures still increased 1% year over year in 2020.</p>\n<p>Intuitive's long-term prospects are the main reason why I like this stock, though. The company has a huge growth opportunity targeting the procedures where it already has regulatory clearances. Even better, Intuitive thinks that it can more than triple its current addressable market by launching new products and securing additional regulatory clearances.</p>\n<p>Sure, Intuitive Surgical is already a big company with a market cap of over $100 billion. I think that it will be able to become a much larger company over the next decade and make investors who buy and hold the stock a lot of money.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 21:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you'd invested $10,000 in AMC Entertainment (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.\nHowever, ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IIPR":"Innovative Industrial Properties Inc","ISRG":"直觉外科公司","ETSY":"Etsy, Inc."},"source_url":"https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146983887","content_text":"If you'd invested $10,000 in AMC Entertainment (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.\nHowever, there's something important to consider before buying AMC stock right now: Investing is focused on the future, not the past. Shares of the movie theater chain aren't going to generate those kinds of gains going forward. If they did, AMC would soon be more than three times bigger than Apple. That's extremely unlikely, to say the least.\nStill, it's possible that AMC will continue performing well (albeit not anywhere near its recent levels) over the next year or two as moviegoers return to theaters. The stock has made some investors quite wealthy over the last few months. But here are three stocks that could make you much richer over the long term than AMC will.\nImage source: Getty Images.\nEtsy\nEtsy's (NASDAQ:ETSY) market cap of $23 billion is well below AMC's market cap of close to $29 billion. I'd argue that the popular e-commerce company has a much greater long-term opportunity than AMC does, though.\nFirst of all, Etsy practically owns the niche online market in personalized handcrafted goods. Others have attempted to beat the company on its own turf but have failed. There are still significant growth opportunities in this $250 billion annual market.\nHowever, the pandemic showed Etsy more than ever that it can compete in a larger arena. The company now thinks that its total addressable market is close to $1.7 trillion.\nOne way that Etsy is going after this expanded market is through acquisitions. Most recently, the company announced plans to acquire Depop for $1.6 billion, a move that vaults Etsy into the clothing resale business.\nI think that Etsy is a stock that could be a 10-bagger over the long run. The odds of AMC having that level of gains going forward are slim.\nInnovative Industrial Properties\nSpeaking of big market opportunities, the U.S. medical cannabis market is growing by leaps and bounds. So far, 36 states have legalized medical cannabis. Innovative Industrial Properties (NYSE:IIPR) stands out as a key beneficiary from this growth.\nThe company is the leading real estate investment trust (REIT) focused on the medical cannabis industry. IIP's forte is sale-leaseback transactions. In these deals, the REIT buys properties from cannabis operators. The operators then lease the properties back with a long-term lease agreement.\nOver the last three years, IIP's revenue has soared 1,300%. Its profits have skyrocketed more than 2,200%. Investors have also made even more money from the company's dividends.\nIIP currently owns 72 properties in 18 states. It should be able to continue growing briskly by making more sale-leaseback deals in those states (which include several of the biggest medical cannabis markets in the U.S.) as well as expanding into additional states.\nIntuitive Surgical\nI recently wrote about my top stock to buy in June. My pick was robotic surgical systems pioneer Intuitive Surgical (NASDAQ:ISRG).\nLike AMC, Intuitive Surgical is a reopening play. Just as the COVID-19 pandemic shut down theaters, it also significantly impacted the volumes of non-emergency surgical procedures. Intuitive generates most of its revenue from selling replacement instruments and accessories for its da Vinci robotic surgical systems. Lower numbers of procedures meant lower revenue for the company.\nPrior to the pandemic, the number of movie tickets sold was declining. That's a not-so-great trend for AMC that could rear its ugly head again after a rebound in 2021 and 2022. Intuitive's procedure volume, though, has risen steadily for quite a while. Even with the pandemic, procedures still increased 1% year over year in 2020.\nIntuitive's long-term prospects are the main reason why I like this stock, though. The company has a huge growth opportunity targeting the procedures where it already has regulatory clearances. Even better, Intuitive thinks that it can more than triple its current addressable market by launching new products and securing additional regulatory clearances.\nSure, Intuitive Surgical is already a big company with a market cap of over $100 billion. I think that it will be able to become a much larger company over the next decade and make investors who buy and hold the stock a lot of money.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159923558,"gmtCreate":1624937111474,"gmtModify":1633946755479,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"waah","listText":"waah","text":"waah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159923558","repostId":"1148481357","repostType":4,"repost":{"id":"1148481357","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624888651,"share":"https://www.laohu8.com/m/news/1148481357?lang=&edition=full","pubTime":"2021-06-28 21:57","market":"us","language":"en","title":"Meme stocks are blazing hot, once again.","url":"https://stock-news.laohu8.com/highlight/detail?id=1148481357","media":"Tiger Newspress","summary":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed be","content":"<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; Beyond climbed between 5% and 7%.</p>\n<p><img src=\"https://static.tigerbbs.com/fb2694f87fdac29278fbf2a583a1bf36\" tg-width=\"390\" tg-height=\"743\" referrerpolicy=\"no-referrer\"></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>Meme stocks are blazing hot, once again.</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\">\nMeme stocks are blazing hot, once again.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-28 21:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; Beyond climbed between 5% and 7%.</p>\n<p><img src=\"https://static.tigerbbs.com/fb2694f87fdac29278fbf2a583a1bf36\" tg-width=\"390\" tg-height=\"743\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","GME":"游戏驿站","WKHS":"Workhorse Group, Inc.","BBBY":"3B家居"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148481357","content_text":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed between 5% and 7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159916868,"gmtCreate":1624935467154,"gmtModify":1633946775860,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"moo","listText":"moo","text":"moo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159916868","repostId":"2146025230","repostType":4,"isVote":1,"tweetType":1,"viewCount":221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127654142,"gmtCreate":1624847625586,"gmtModify":1633948020147,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"woawlawoa","listText":"woawlawoa","text":"woawlawoa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127654142","repostId":"2146021046","repostType":4,"repost":{"id":"2146021046","kind":"highlight","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":1624589404,"share":"https://www.laohu8.com/m/news/2146021046?lang=&edition=full","pubTime":"2021-06-25 10:50","market":"fut","language":"en","title":"Bitcoin to become legal tender in El Salvador on Sept 7","url":"https://stock-news.laohu8.com/highlight/detail?id=2146021046","media":"Reuters","summary":"SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on","content":"<p>SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional.</p>\n<p>El Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.</p>\n<p>\"The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it... If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,\" said Bukele.</p>\n<p>Salaries and pensions will continue to be paid in U.S. dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees.</p>\n<p>Earlier in the day Athena Bitcoin said it plans to invest over $1 million to install some 1,500 cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.</p>\n<p>According to Athena Bitcoin's website, the ATMs can be used to buy bitcoins or sell them for cash.</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>Bitcoin to become legal tender in El Salvador on Sept 7</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\">\nBitcoin to become legal tender in El Salvador on Sept 7\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\">2021-06-25 10:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional.</p>\n<p>El Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.</p>\n<p>\"The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it... If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,\" said Bukele.</p>\n<p>Salaries and pensions will continue to be paid in U.S. dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees.</p>\n<p>Earlier in the day Athena Bitcoin said it plans to invest over $1 million to install some 1,500 cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.</p>\n<p>According to Athena Bitcoin's website, the ATMs can be used to buy bitcoins or sell them for cash.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146021046","content_text":"SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional.\nEl Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.\n\"The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it... If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,\" said Bukele.\nSalaries and pensions will continue to be paid in U.S. dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees.\nEarlier in the day Athena Bitcoin said it plans to invest over $1 million to install some 1,500 cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.\nAccording to Athena Bitcoin's website, the ATMs can be used to buy bitcoins or sell them for cash.","news_type":1},"isVote":1,"tweetType":1,"viewCount":222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127655016,"gmtCreate":1624847562935,"gmtModify":1633948021328,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"owowowowwo","listText":"owowowowwo","text":"owowowowwo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127655016","repostId":"1104882070","repostType":4,"repost":{"id":"1104882070","kind":"news","pubTimestamp":1624589020,"share":"https://www.laohu8.com/m/news/1104882070?lang=&edition=full","pubTime":"2021-06-25 10:43","market":"us","language":"en","title":"FedEx is falling despite beating earnings expectations; UPS drops too","url":"https://stock-news.laohu8.com/highlight/detail?id=1104882070","media":"seekingalpha","summary":"FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidanc","content":"<ul>\n <li>FedEx(NYSE:FDX)trades lower even after&nbsp;FQ4&nbsp;revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.</li>\n <li>Operating income rose 9% Y/Y to $1.97B during the quarter on an adjusted basis and the company reported an operating margin rate of 8.7% vs. 5.2% a year ago and 8.9% consensus. Improved network optimization and asset utilization enabled profit growth even with volume at a record.</li>\n <li>FedEx Ground reported revenue growth of 27% for the quarter. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package.</li>\n <li>Looking ahead, FedEx sees EPS of $20.50 to $21.50 for the full year vs $20.48 consensus. The profit guidance is before MTM retirement plan accounting adjustments and excludes estimated TNT Express integration expenses and costs associated with business realignment activities. \"We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns,\" says CFO Michael Lenz.</li>\n <li>Shares of FedEx aredown 4.04%AH to $291.50.UPSis&nbsp;down 2.25%.</li>\n <li>The FedEx conference call is likely to delve into thenetwork congestion issues the company has seen over the last few weeks.</li>\n</ul>","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>FedEx is falling despite beating earnings expectations; UPS drops too</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\">\nFedEx is falling despite beating earnings expectations; UPS drops too\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 10:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.\n...</p>\n\n<a href=\"https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UPS":"联合包裹","FDX":"联邦快递"},"source_url":"https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1104882070","content_text":"FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.\nOperating income rose 9% Y/Y to $1.97B during the quarter on an adjusted basis and the company reported an operating margin rate of 8.7% vs. 5.2% a year ago and 8.9% consensus. Improved network optimization and asset utilization enabled profit growth even with volume at a record.\nFedEx Ground reported revenue growth of 27% for the quarter. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package.\nLooking ahead, FedEx sees EPS of $20.50 to $21.50 for the full year vs $20.48 consensus. The profit guidance is before MTM retirement plan accounting adjustments and excludes estimated TNT Express integration expenses and costs associated with business realignment activities. \"We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns,\" says CFO Michael Lenz.\nShares of FedEx aredown 4.04%AH to $291.50.UPSis down 2.25%.\nThe FedEx conference call is likely to delve into thenetwork congestion issues the company has seen over the last few weeks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":41,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127666628,"gmtCreate":1624846600864,"gmtModify":1633948040839,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"woawwwaaaa","listText":"woawwwaaaa","text":"woawwwaaaa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127666628","repostId":"1180366049","repostType":4,"repost":{"id":"1180366049","kind":"news","pubTimestamp":1624598362,"share":"https://www.laohu8.com/m/news/1180366049?lang=&edition=full","pubTime":"2021-06-25 13:19","market":"us","language":"en","title":"Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1180366049","media":"Reuters","summary":"TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion","content":"<p>TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday.</p>\n<p>The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth.</p>\n<p>Panasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at times with executives trading barbs publicly.</p>\n<p>Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. That stake was worth $730 million at the end of March 2020. The shares have gained almost seven fold since then and closed up 3.5% at $679.82 apiece on Thursday.</p>\n<p>“The impact of crypto assets may have pushed Tesla’s share price above its intrinsic value, making it a good time to sell,” said Hideki Yasuda, an analyst at Ace Research Institute.</p>\n<p>Musk said in February his firm bought bitcoin and would take payment in the cryptocurrency, a decision he later reversed, and his comments on Twitter drive swings in the price of such assets.</p>\n<p>While Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. Panasonic’s shares were up 4.2% on Friday.</p>\n<p>The stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, but comes as the automaker is diversifying its own battery supply chain.</p>\n<p>Tesla has struck deals with South Korea’s LG Energy Solution, a unit of LG Chem, and China’s CATL, with Reuters reporting the latter is planning a plant in Shanghai near the automaker’s production base.</p>\n<p>Panasonic said earlier this year it would buy the shareshereof U.S. supply-chain software company Blue Yonder that it does not already own, in a $7.1 billion deal. Its biggest such deal in a decade, the price raised the eyebrows of analysts who pointed to the firm's spotty M&amp;A track record.</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>Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments</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\">\nPanasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 13:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday...</p>\n\n<a href=\"https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","PCRFY":"松下"},"source_url":"https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180366049","content_text":"TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday.\nThe sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth.\nPanasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at times with executives trading barbs publicly.\nPanasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. That stake was worth $730 million at the end of March 2020. The shares have gained almost seven fold since then and closed up 3.5% at $679.82 apiece on Thursday.\n“The impact of crypto assets may have pushed Tesla’s share price above its intrinsic value, making it a good time to sell,” said Hideki Yasuda, an analyst at Ace Research Institute.\nMusk said in February his firm bought bitcoin and would take payment in the cryptocurrency, a decision he later reversed, and his comments on Twitter drive swings in the price of such assets.\nWhile Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. Panasonic’s shares were up 4.2% on Friday.\nThe stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, but comes as the automaker is diversifying its own battery supply chain.\nTesla has struck deals with South Korea’s LG Energy Solution, a unit of LG Chem, and China’s CATL, with Reuters reporting the latter is planning a plant in Shanghai near the automaker’s production base.\nPanasonic said earlier this year it would buy the shareshereof U.S. supply-chain software company Blue Yonder that it does not already own, in a $7.1 billion deal. Its biggest such deal in a decade, the price raised the eyebrows of analysts who pointed to the firm's spotty M&A track record.","news_type":1},"isVote":1,"tweetType":1,"viewCount":96,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127666052,"gmtCreate":1624846580576,"gmtModify":1633948041431,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","listText":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","text":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127666052","repostId":"2146567027","repostType":4,"isVote":1,"tweetType":1,"viewCount":222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127668806,"gmtCreate":1624846550105,"gmtModify":1633948041918,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127668806","repostId":"1192734381","repostType":4,"isVote":1,"tweetType":1,"viewCount":318,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127681816,"gmtCreate":1624846152635,"gmtModify":1633948051178,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127681816","repostId":"1108214079","repostType":4,"repost":{"id":"1108214079","kind":"news","pubTimestamp":1624607367,"share":"https://www.laohu8.com/m/news/1108214079?lang=&edition=full","pubTime":"2021-06-25 15:49","market":"us","language":"en","title":"All 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks","url":"https://stock-news.laohu8.com/highlight/detail?id=1108214079","media":"zerohedge","summary":"As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we a","content":"<p>As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve announced that all banks easily clearedtheir annual bill of health, acing their annual stress test which found that banks could suffer almost $500 billion in losses and still comfortably meet capital requirements, setting the scene for hundreds of billions in stock buybacks and dividends.</p>\n<p>The \"test\" showed the country’s biggest banks could withstand $474 billion in losses from loans and other positions, and still emerge with more than double the required high-quality common equity tier one, or CET1, capital relative to their risk-weighted assets.</p>\n<p>In a statement published by the Federal Reserve Board, the Fed said that the results of the annual bank stress test showed that large banks \"continue to have strong capital levels and could continue lending to households and businesses during a severe recession.\"</p>\n<p>\"Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery,\" said Vice Chair for Supervision Randal K. Quarles.</p>\n<p><b>All 23 large banks tested remained well above their risk-based minimum capital requirements,</b>and as laid out previously by the Board, the additional restrictions put in place during the COVID event will end. As a result, all large banks will be subject to the normal restrictions of the Board's stress capital buffer, or SCB, framework.</p>\n<p>The SCB framework was finalized last year and maintains strong capital requirements in the aggregate for large banks with an increase in requirements for the largest and most complex banks. It sets capital requirements via the stress tests, and as a result, banks are required to hold enough capital to survive a severe recession. If a bank does not stay above its capital requirements, which include the SCB, it is subject to automatic restrictions on capital distributions and discretionary bonus payments.</p>\n<p>Naturally this is great news,<b>and it means that banks no longer need the Fed's $120BN in monthly QE right?</b></p>\n<p>Joking aside, having aced their tests the six largest US banks - a group that also includes Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs - will now pay out approximately $142 billion in capital to shareholders, paving the way for them to double total shareholder payouts in the next four quarters, according to data compiled by Bloomberg based on estimates provided by analysts at Barclays Plc.</p>\n<p><img src=\"https://static.tigerbbs.com/0c0f4f744baea705298a632057a1089d\" tg-width=\"642\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p>\n<p>For those wondering just what the Fed \"tested\" for,this year's hypothetical scenarioincludes a \"severe\" global recession with substantial stress in commercial real estate and corporate debt markets:</p>\n<ul>\n <li>The unemployment rate rises by 4 percentage points to a peak of 10-3/4 percent.</li>\n <li>Gross domestic product falls 4 percent from the fourth quarter of 2020 through the third quarter of 2022.</li>\n <li>And asset prices decline sharply, with a 55 percent decline in equity prices (unclear how many trillions the Fed would have to inject in this scenario to stabilize stonks).</li>\n</ul>\n<p>Under that scenario, the Fed calculated that<b>the 23 large banks would collectively lose more than $470 billion, with nearly $160 billion losses from commercial real estate and corporate loans.</b></p>\n<p>Of banks headquartered in the US, investment banking groups Goldman Sachs and Morgan Stanley suffered the biggest hits to their capital ratios in the stress tests, with declines of 5.9 and 4.7 percentage points, respectively. This compared to an average decline of 2.4% points for the 23 banks that underwent the tests, which included the American subsidiaries of foreign banks with significant US operations.</p>\n<p><img src=\"https://static.tigerbbs.com/7cf2f5302333e2e68ae4bf1a48962627\" tg-width=\"819\" tg-height=\"620\" referrerpolicy=\"no-referrer\"></p>\n<p>Even in a worst case scenario capital ratios would decline to only 10.6%, still more than double their minimum requirements.</p>\n<p>Consumer debt accounted for a smaller portion of overall losses than previous years since most retail customers spent the past year paying down credit cards and other loans during the Covid-19 pandemic. But an increase in expected losses in commercial and industrial loans more than offset that decline. Nearly $160bn of the losses came from commercial real estate and corporate loans.</p>\n<p><img src=\"https://static.tigerbbs.com/602b5d94c01e097ef93f83f6b70ade10\" tg-width=\"956\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>A summary of how the various bank capital ratios would be impact under the Fed's stress scenarios is shown below.</p>\n<p><img src=\"https://static.tigerbbs.com/d8a6aa543d4ad0e3d044e4397a77ad2c\" tg-width=\"973\" tg-height=\"961\" referrerpolicy=\"no-referrer\"></p>\n<p>The Fed also said that, as expected, it would lift pandemic restrictions on bank share buybacks and dividends on June 30th after banks clear stress tests.</p>\n<p>The next step is on Monday, June 28: the Fed expects banks to wait until then to analyze the results of the stress tests before announcing any plans for new shareholder payouts, according to senior Fed officials. Then, after the market close, banks can unveil their capital distribution plans. From the tests, the Fed will also prescribe for each bank how much CET1 capital in excess of regulatory minimums they need to keep through a so-called stress capital buffer. The CET1 ratio measured against risk-weighted assets is a crucial benchmark of financial stability.</p>\n<p>Barclays analysts estimate the median bank out of the 20 relevant institutions it covers will return over 100 per cent of its earnings to shareholders over the next year, with capital returned to investors approaching $200bn.</p>\n<p>In immediate response, the market - which knew the outcome of the test well in advance - bid up bank stocks which rose in postmarket trading, with Bank of America leading the rally among big banks, rising 1.6%; Morgan Stanley +1%, Citigroup +0.9% and Wells Fargo +0.8%, JPMorgan +0.7%, Goldman Sachs +0.6%.</p>\n<p><img src=\"https://static.tigerbbs.com/f1c7c394ce7aae8679dfe85b5e987060\" tg-width=\"512\" tg-height=\"335\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a670e03c93a58825a2398a12f3756c6b\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p>\n<p>* * *</p>\n<p>And while all of the above was exactly as expected, overnight Credit Suisse repo guru Zoltan Poszar warned of a potentially troubling twist.</p>\n<p>In his latest Global Money Dispatch, Pozsar notes that among other things, today's stress test results will determine the stress capital buffers (SCB) large banks will have to hold in 2022, which will affect their CET1 minimums. Naturally,<b>lower SCBs allow the largest U.S. banks to run with higher G-SIB surcharges, and this trade-off is particularly important for J.P. Morgan.</b>According to Pozsar,&nbsp; the bank will be more willing to let its G-SIB surcharge climb to 5% this year from 4% last year if its SCB comes in around 2.5%, down from 3.3% currently. As a result, today's release may have \"<i>a big impact on the pricing of the year-end turn in FX swaps: if J.P. Morgan’s SCB drops a lot, year-end premia might shrink a lot from here.\"</i></p>\n<p>There's more: looking ahead to the June 30 expiration of stock buyback limitations, the Hungarian repo guru writes that<b>the upcoming wave of buybacks \"destroy balance sheet capacity in the banking system\" as banks that return capital to shareholders have less capital to leverage up.</b></p>\n<p>Here's the math:<i>with a 5% Supplemental Liquidity Ratio minimum at the holdco level,</i><i><b>banks run 20-times leverage, which means that $10 billion in stock buybacks means $200 billion less of banks’ demand for reserves, Treasuries, MBS, and deposits.</b></i></p>\n<p>This means that as banks rush to handout cash to shareholders, they will be forced to park even more reserves elsewhere... like for example the Fed's reverse repo facility. This “push” by banks to shed capacity and potentially some deposits will meet the “sucking sound” of the RRP facility in coming weeks. It comes as usage of the Fed's reverse repo facility has been rising by tens of billions daily and on Wednesday just hit a record $813.6 billion.</p>\n<p><img src=\"https://static.tigerbbs.com/391bdb2316b81ed40abaf3e0280d35a1\" tg-width=\"1170\" tg-height=\"628\" referrerpolicy=\"no-referrer\"></p>\n<p>Now imagine what will happen to the RRP facility if banks indeed proceed to repurchase $142BN in stock; applying Pozsar's 20x leverage multiple, this means that bank balance sheets will shrink by just under $3 trillion, including trillions in reserves which will have to be parked at the Fed, which also means that in the coming weeks usage on the Fed's reserve facility is set to explode to unprecedented levels. This in turn will only accelerate the next funding crisis (now that the banking system has shifted from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market) thanks to the Fed's IOER/RRP rate hike), as we described in \"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis.\"</p>\n<p>One final technical consideration from Zoltan is that the flattening of the yield curve in recent days hit bank stocks,<b>so banks may start buybacks on July 1st, which means banks might choose to stay liquid around quarter-end.</b>This will be an extra factor to consider in pricing the June quarter-end turn.</p>\n<p>As Pozsar concludes,<b>\"ample liquidity is ample only if banks are willing to trade it, and trading liquidity means giving it up, which large banks might not want to do when the “pull” of the o/n RRP facility can complicate re-starting buybacks as early as July 1st.</b>\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nAll 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 15:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WFC":"富国银行","KBE":"银行指数ETF-SPDR KBW","JPM":"摩根大通","GS":"高盛","C":"花旗","BAC":"美国银行","MS":"摩根士丹利"},"source_url":"https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108214079","content_text":"As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve announced that all banks easily clearedtheir annual bill of health, acing their annual stress test which found that banks could suffer almost $500 billion in losses and still comfortably meet capital requirements, setting the scene for hundreds of billions in stock buybacks and dividends.\nThe \"test\" showed the country’s biggest banks could withstand $474 billion in losses from loans and other positions, and still emerge with more than double the required high-quality common equity tier one, or CET1, capital relative to their risk-weighted assets.\nIn a statement published by the Federal Reserve Board, the Fed said that the results of the annual bank stress test showed that large banks \"continue to have strong capital levels and could continue lending to households and businesses during a severe recession.\"\n\"Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery,\" said Vice Chair for Supervision Randal K. Quarles.\nAll 23 large banks tested remained well above their risk-based minimum capital requirements,and as laid out previously by the Board, the additional restrictions put in place during the COVID event will end. As a result, all large banks will be subject to the normal restrictions of the Board's stress capital buffer, or SCB, framework.\nThe SCB framework was finalized last year and maintains strong capital requirements in the aggregate for large banks with an increase in requirements for the largest and most complex banks. It sets capital requirements via the stress tests, and as a result, banks are required to hold enough capital to survive a severe recession. If a bank does not stay above its capital requirements, which include the SCB, it is subject to automatic restrictions on capital distributions and discretionary bonus payments.\nNaturally this is great news,and it means that banks no longer need the Fed's $120BN in monthly QE right?\nJoking aside, having aced their tests the six largest US banks - a group that also includes Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs - will now pay out approximately $142 billion in capital to shareholders, paving the way for them to double total shareholder payouts in the next four quarters, according to data compiled by Bloomberg based on estimates provided by analysts at Barclays Plc.\n\nFor those wondering just what the Fed \"tested\" for,this year's hypothetical scenarioincludes a \"severe\" global recession with substantial stress in commercial real estate and corporate debt markets:\n\nThe unemployment rate rises by 4 percentage points to a peak of 10-3/4 percent.\nGross domestic product falls 4 percent from the fourth quarter of 2020 through the third quarter of 2022.\nAnd asset prices decline sharply, with a 55 percent decline in equity prices (unclear how many trillions the Fed would have to inject in this scenario to stabilize stonks).\n\nUnder that scenario, the Fed calculated thatthe 23 large banks would collectively lose more than $470 billion, with nearly $160 billion losses from commercial real estate and corporate loans.\nOf banks headquartered in the US, investment banking groups Goldman Sachs and Morgan Stanley suffered the biggest hits to their capital ratios in the stress tests, with declines of 5.9 and 4.7 percentage points, respectively. This compared to an average decline of 2.4% points for the 23 banks that underwent the tests, which included the American subsidiaries of foreign banks with significant US operations.\n\nEven in a worst case scenario capital ratios would decline to only 10.6%, still more than double their minimum requirements.\nConsumer debt accounted for a smaller portion of overall losses than previous years since most retail customers spent the past year paying down credit cards and other loans during the Covid-19 pandemic. But an increase in expected losses in commercial and industrial loans more than offset that decline. Nearly $160bn of the losses came from commercial real estate and corporate loans.\n\nA summary of how the various bank capital ratios would be impact under the Fed's stress scenarios is shown below.\n\nThe Fed also said that, as expected, it would lift pandemic restrictions on bank share buybacks and dividends on June 30th after banks clear stress tests.\nThe next step is on Monday, June 28: the Fed expects banks to wait until then to analyze the results of the stress tests before announcing any plans for new shareholder payouts, according to senior Fed officials. Then, after the market close, banks can unveil their capital distribution plans. From the tests, the Fed will also prescribe for each bank how much CET1 capital in excess of regulatory minimums they need to keep through a so-called stress capital buffer. The CET1 ratio measured against risk-weighted assets is a crucial benchmark of financial stability.\nBarclays analysts estimate the median bank out of the 20 relevant institutions it covers will return over 100 per cent of its earnings to shareholders over the next year, with capital returned to investors approaching $200bn.\nIn immediate response, the market - which knew the outcome of the test well in advance - bid up bank stocks which rose in postmarket trading, with Bank of America leading the rally among big banks, rising 1.6%; Morgan Stanley +1%, Citigroup +0.9% and Wells Fargo +0.8%, JPMorgan +0.7%, Goldman Sachs +0.6%.\n\n* * *\nAnd while all of the above was exactly as expected, overnight Credit Suisse repo guru Zoltan Poszar warned of a potentially troubling twist.\nIn his latest Global Money Dispatch, Pozsar notes that among other things, today's stress test results will determine the stress capital buffers (SCB) large banks will have to hold in 2022, which will affect their CET1 minimums. Naturally,lower SCBs allow the largest U.S. banks to run with higher G-SIB surcharges, and this trade-off is particularly important for J.P. Morgan.According to Pozsar,  the bank will be more willing to let its G-SIB surcharge climb to 5% this year from 4% last year if its SCB comes in around 2.5%, down from 3.3% currently. As a result, today's release may have \"a big impact on the pricing of the year-end turn in FX swaps: if J.P. Morgan’s SCB drops a lot, year-end premia might shrink a lot from here.\"\nThere's more: looking ahead to the June 30 expiration of stock buyback limitations, the Hungarian repo guru writes thatthe upcoming wave of buybacks \"destroy balance sheet capacity in the banking system\" as banks that return capital to shareholders have less capital to leverage up.\nHere's the math:with a 5% Supplemental Liquidity Ratio minimum at the holdco level,banks run 20-times leverage, which means that $10 billion in stock buybacks means $200 billion less of banks’ demand for reserves, Treasuries, MBS, and deposits.\nThis means that as banks rush to handout cash to shareholders, they will be forced to park even more reserves elsewhere... like for example the Fed's reverse repo facility. This “push” by banks to shed capacity and potentially some deposits will meet the “sucking sound” of the RRP facility in coming weeks. It comes as usage of the Fed's reverse repo facility has been rising by tens of billions daily and on Wednesday just hit a record $813.6 billion.\n\nNow imagine what will happen to the RRP facility if banks indeed proceed to repurchase $142BN in stock; applying Pozsar's 20x leverage multiple, this means that bank balance sheets will shrink by just under $3 trillion, including trillions in reserves which will have to be parked at the Fed, which also means that in the coming weeks usage on the Fed's reserve facility is set to explode to unprecedented levels. This in turn will only accelerate the next funding crisis (now that the banking system has shifted from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market) thanks to the Fed's IOER/RRP rate hike), as we described in \"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis.\"\nOne final technical consideration from Zoltan is that the flattening of the yield curve in recent days hit bank stocks,so banks may start buybacks on July 1st, which means banks might choose to stay liquid around quarter-end.This will be an extra factor to consider in pricing the June quarter-end turn.\nAs Pozsar concludes,\"ample liquidity is ample only if banks are willing to trade it, and trading liquidity means giving it up, which large banks might not want to do when the “pull” of the o/n RRP facility can complicate re-starting buybacks as early as July 1st.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":78,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}