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Rival coins including Ether and Litecoin also retreated.</p>\n<p>Bitcoin’s latest roller-coaster ride accelerated Monday as traders digested an Amazon executive&nbsp;job posting&nbsp;linked to crypto, sending prices soaring. The rally quickly ran out of steam hours later, after a company spokesperson denied the token will be accepted for payments this year.</p>\n<p>Investors rushing to cover bearish bets helped propel Bitcoin’s earlier advance to a peak of $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data&nbsp;from Bybt.com.</p>\n<p>“Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,” said Vijay Ayyar, head of crypto exchange Luno’s Asia Pacific business. “But then there was heavy accumulation in the $29,000 to $30,000 region, which caught a lot of those shorts unaware and hence led to the spring upwards.”</p>\n<p>Bitcoin’s price volatility is part of a wider, multi-wave correction since a record high was reached in April, Ayyar said. The price could rebound as high as $45,000 in the near term before another potential drop, he said.</p>\n<p>“We’re still seeing the correction play out,” he added.</p>\n<p>The latest gyrations came amid concerns about a chill in the crypto industry after Bitcoin’s hot run to a record of almost $65,000 &nbsp;faded amid rising regulatory and environmental concerns. There are plenty of factors traders can point to for this week’s moves, as proponents look for the next catalyst to break the coin out of its tight trading range of $30,000 to $40,000 in recent months.</p>\n<p>“Bitcoin‘s biggest risk this week could be a hawkish surprise from the Fed, which might explain why prices have not yet been able to clear the psychological $40,000 level,” said Edward Moya, senior market analyst with Oanda Corp. The Federal Reserve will announce its next rate decision Wednesday.</p>\n<p>Bloomberg News earlier&nbsp;reported a U.S. probe&nbsp;into Tether is homing in on whether executives behind the token committed bank fraud.</p>\n<p><img src=\"https://static.tigerbbs.com/a9b821fcdf8396e5d3fdc1f9e3ead006\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Ether was down as much as 5%, reversing Monday’s earlier advance ahead of an&nbsp;upgrade&nbsp;due on Aug. 4 that will reduce the amount of outstanding tokens by destroying some of them every time it’s used to fuel transactions on the world’s most-used blockchain.</p>\n<p>On Binance, the largest crypto exchange, Bitcoin perpetual contracts jumped as much as 30% over an hour in early New York trading, a sign of extreme volatility in one of the coin’s most liquid derivatives.</p>\n<p>Sentiment also got a bit of a boost last week after Tesla Inc.’s Elon Musk said his firm was likely to eventually&nbsp;accept&nbsp;Bitcoin again and that his space exploration company SpaceX owns the digital token. Bitcoin bounced back above the 50-day moving average for the first time since May on the weekend.</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>Crypto Stocks tumbled in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto Stocks tumbled in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-27 16:21</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Crypto Stocks tumbled in premarket trading&nbsp;on&nbsp;Amazon denimg report of accepting bitcoin as payment.Bit Digital,The9,SOS Ltd,Canaan,Ebang&nbsp;international,Marathon Digital Holdings,Riot Blockchain,Coinbase Global&nbsp;and&nbsp;Square&nbsp;plunged between 1% and 19%.</p>\n<p><img src=\"https://static.tigerbbs.com/e53c1ef7ac57d4219f6590506a3f3800\" tg-width=\"352\" tg-height=\"546\" width=\"100%\" height=\"auto\"></p>\n<p>Bitcoin fell after briefly rallying past $40,000, as&nbsp;Amazon.com Inc.&nbsp;pushed back against speculation it will accept the token for payments this year, offering investors another reminder of the coin’s volatility.</p>\n<p>The largest digital currency dropped as much as 3.5% and was trading at about $37,100 as of 1:44 p.m. in Hong Kong, extending a late reversal in U.S. trading. Rival coins including Ether and Litecoin also retreated.</p>\n<p>Bitcoin’s latest roller-coaster ride accelerated Monday as traders digested an Amazon executive&nbsp;job posting&nbsp;linked to crypto, sending prices soaring. The rally quickly ran out of steam hours later, after a company spokesperson denied the token will be accepted for payments this year.</p>\n<p>Investors rushing to cover bearish bets helped propel Bitcoin’s earlier advance to a peak of $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data&nbsp;from Bybt.com.</p>\n<p>“Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,” said Vijay Ayyar, head of crypto exchange Luno’s Asia Pacific business. “But then there was heavy accumulation in the $29,000 to $30,000 region, which caught a lot of those shorts unaware and hence led to the spring upwards.”</p>\n<p>Bitcoin’s price volatility is part of a wider, multi-wave correction since a record high was reached in April, Ayyar said. The price could rebound as high as $45,000 in the near term before another potential drop, he said.</p>\n<p>“We’re still seeing the correction play out,” he added.</p>\n<p>The latest gyrations came amid concerns about a chill in the crypto industry after Bitcoin’s hot run to a record of almost $65,000 &nbsp;faded amid rising regulatory and environmental concerns. There are plenty of factors traders can point to for this week’s moves, as proponents look for the next catalyst to break the coin out of its tight trading range of $30,000 to $40,000 in recent months.</p>\n<p>“Bitcoin‘s biggest risk this week could be a hawkish surprise from the Fed, which might explain why prices have not yet been able to clear the psychological $40,000 level,” said Edward Moya, senior market analyst with Oanda Corp. The Federal Reserve will announce its next rate decision Wednesday.</p>\n<p>Bloomberg News earlier&nbsp;reported a U.S. probe&nbsp;into Tether is homing in on whether executives behind the token committed bank fraud.</p>\n<p><img src=\"https://static.tigerbbs.com/a9b821fcdf8396e5d3fdc1f9e3ead006\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Ether was down as much as 5%, reversing Monday’s earlier advance ahead of an&nbsp;upgrade&nbsp;due on Aug. 4 that will reduce the amount of outstanding tokens by destroying some of them every time it’s used to fuel transactions on the world’s most-used blockchain.</p>\n<p>On Binance, the largest crypto exchange, Bitcoin perpetual contracts jumped as much as 30% over an hour in early New York trading, a sign of extreme volatility in one of the coin’s most liquid derivatives.</p>\n<p>Sentiment also got a bit of a boost last week after Tesla Inc.’s Elon Musk said his firm was likely to eventually&nbsp;accept&nbsp;Bitcoin again and that his space exploration company SpaceX owns the digital token. Bitcoin bounced back above the 50-day moving average for the first time since May on the weekend.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOS":"SOS Limited","NCTY":"第九城市","COIN":"Coinbase Global, Inc.","SQ":"Block","BTBT":"Bit Digital, Inc.","EBON":"亿邦国际","RIOT":"Riot Platforms","CAN":"嘉楠科技","MARA":"Marathon Digital Holdings Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140105060","content_text":"Crypto Stocks tumbled in premarket trading on Amazon denimg report of accepting bitcoin as payment.Bit Digital,The9,SOS Ltd,Canaan,Ebang international,Marathon Digital Holdings,Riot Blockchain,Coinbase Global and Square plunged between 1% and 19%.\n\nBitcoin fell after briefly rallying past $40,000, as Amazon.com Inc. pushed back against speculation it will accept the token for payments this year, offering investors another reminder of the coin’s volatility.\nThe largest digital currency dropped as much as 3.5% and was trading at about $37,100 as of 1:44 p.m. in Hong Kong, extending a late reversal in U.S. trading. Rival coins including Ether and Litecoin also retreated.\nBitcoin’s latest roller-coaster ride accelerated Monday as traders digested an Amazon executive job posting linked to crypto, sending prices soaring. The rally quickly ran out of steam hours later, after a company spokesperson denied the token will be accepted for payments this year.\nInvestors rushing to cover bearish bets helped propel Bitcoin’s earlier advance to a peak of $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data from Bybt.com.\n“Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,” said Vijay Ayyar, head of crypto exchange Luno’s Asia Pacific business. “But then there was heavy accumulation in the $29,000 to $30,000 region, which caught a lot of those shorts unaware and hence led to the spring upwards.”\nBitcoin’s price volatility is part of a wider, multi-wave correction since a record high was reached in April, Ayyar said. The price could rebound as high as $45,000 in the near term before another potential drop, he said.\n“We’re still seeing the correction play out,” he added.\nThe latest gyrations came amid concerns about a chill in the crypto industry after Bitcoin’s hot run to a record of almost $65,000  faded amid rising regulatory and environmental concerns. There are plenty of factors traders can point to for this week’s moves, as proponents look for the next catalyst to break the coin out of its tight trading range of $30,000 to $40,000 in recent months.\n“Bitcoin‘s biggest risk this week could be a hawkish surprise from the Fed, which might explain why prices have not yet been able to clear the psychological $40,000 level,” said Edward Moya, senior market analyst with Oanda Corp. The Federal Reserve will announce its next rate decision Wednesday.\nBloomberg News earlier reported a U.S. probe into Tether is homing in on whether executives behind the token committed bank fraud.\n\nEther was down as much as 5%, reversing Monday’s earlier advance ahead of an upgrade due on Aug. 4 that will reduce the amount of outstanding tokens by destroying some of them every time it’s used to fuel transactions on the world’s most-used blockchain.\nOn Binance, the largest crypto exchange, Bitcoin perpetual contracts jumped as much as 30% over an hour in early New York trading, a sign of extreme volatility in one of the coin’s most liquid derivatives.\nSentiment also got a bit of a boost last week after Tesla Inc.’s Elon Musk said his firm was likely to eventually accept Bitcoin again and that his space exploration company SpaceX owns the digital token. Bitcoin bounced back above the 50-day moving average for the first time since May on the weekend.","news_type":1},"isVote":1,"tweetType":1,"viewCount":454,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809248943,"gmtCreate":1627374689882,"gmtModify":1631890282607,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809248943","repostId":"1142907091","repostType":4,"repost":{"id":"1142907091","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":1627373467,"share":"https://www.laohu8.com/m/news/1142907091?lang=&edition=full","pubTime":"2021-07-27 16:11","market":"us","language":"en","title":"Hot Chinese concept stocks resumed downward in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1142907091","media":"Tiger Newspress","summary":"Hot Chinese concept stocks resumed downward in premarket trading.Bilibili and NetEase fell 7%,DiDi G","content":"<p>Hot Chinese concept stocks resumed downward&nbsp;in premarket trading.Bilibili&nbsp;and&nbsp;NetEase&nbsp;fell&nbsp;7%,DiDi Global,JD.com&nbsp;and&nbsp;Pinduoduo&nbsp;fell&nbsp;6%,Baidu&nbsp;fell&nbsp;5%,Xpeng Motors&nbsp;fell&nbsp;4%,Alibaba,Nio&nbsp;and Li Auto&nbsp;fell&nbsp;3%.</p>\n<p><img src=\"https://static.tigerbbs.com/6d3f423af5595483b1ce34aa42d60cc7\" tg-width=\"355\" tg-height=\"602\" 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>Hot Chinese concept stocks resumed downward in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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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\">\nHot Chinese concept stocks resumed downward in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-27 16:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Hot Chinese concept stocks resumed downward&nbsp;in premarket trading.Bilibili&nbsp;and&nbsp;NetEase&nbsp;fell&nbsp;7%,DiDi Global,JD.com&nbsp;and&nbsp;Pinduoduo&nbsp;fell&nbsp;6%,Baidu&nbsp;fell&nbsp;5%,Xpeng Motors&nbsp;fell&nbsp;4%,Alibaba,Nio&nbsp;and Li Auto&nbsp;fell&nbsp;3%.</p>\n<p><img src=\"https://static.tigerbbs.com/6d3f423af5595483b1ce34aa42d60cc7\" tg-width=\"355\" tg-height=\"602\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JD":"京东","DIDI":"滴滴(已退市)","BABA":"阿里巴巴","BIDU":"百度","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车","PDD":"拼多多"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142907091","content_text":"Hot Chinese concept stocks resumed downward in premarket trading.Bilibili and NetEase fell 7%,DiDi Global,JD.com and Pinduoduo fell 6%,Baidu fell 5%,Xpeng Motors fell 4%,Alibaba,Nio and Li Auto fell 3%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":406,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142758872,"gmtCreate":1626179586396,"gmtModify":1631890282608,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"What","listText":"What","text":"What","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142758872","repostId":"2151276565","repostType":4,"repost":{"id":"2151276565","pubTimestamp":1626176400,"share":"https://www.laohu8.com/m/news/2151276565?lang=&edition=full","pubTime":"2021-07-13 19:40","market":"us","language":"en","title":"Owens Corning Announces Acquisition of vliepa GmbH","url":"https://stock-news.laohu8.com/highlight/detail?id=2151276565","media":"Business Wire","summary":"Combination expands company’s global nonwovens portfolio to accelerate growth and strengthen offerin","content":"<p><b><i>Combination expands company’s global nonwovens portfolio to accelerate growth and strengthen offerings to European building and construction markets</i></b></p>\n<p><b>TOLEDO, Ohio, July 13, 2021</b>--(BUSINESS WIRE)--Owens Corning (NYSE: OC) announced today that it has acquired vliepa GmbH, which specializes in the coating, printing and finishing of nonwovens, paper and film for the building materials industry. The acquisition broadens Owens Corning’s significant global nonwovens portfolio to better serve European customers and accelerate growth of building and construction market applications in the region.</p>\n<p>\"This highly complementary combination advances our global strategy of expanding deeper into the value chain and investing in high-growth markets,\" said Marcio Sandri, President of Owens Corning’s Composites business. \"The acquisition adds immediate coating capacity for our customers in the building materials industry, along with supporting the transformation of the construction market from traditional materials to innovative, glass-faced solutions.\"</p>\n<p>With this transaction, Owens Corning has taken ownership of two production facilities in Brüggen, Germany. Terms of the transaction were not released.</p>\n<p>\"I am very excited about our new opportunities with Owens Corning,\" said Eric Schillings, Managing Partner of vliepa GmbH. \"Leveraging their broad enterprise capabilities and market-leading positions, Owens Corning will help us expand in our markets and accelerate our growth. I am confident that vliepa will have a bright future in the new organization.\"</p>\n<p>The acquisition reinforces Owens Corning’s commitment to its global nonwovens business, which delivers differentiated solutions.</p>\n<p>\"We believe vliepa‘s technology and capabilities are an ideal complement to our nonwoven solutions, manufacturing capacity, and commercial relationships,\" added Sandri. \"Our combined organization will address several key macrotrends, including sustainability, lightweight building materials, and more labor-efficient construction solutions, by delivering enhanced performance in a variety of applications, including Polyiso (polyisocyanurate) insulation and gypsum boards.\"</p>\n<p>In total, vliepa GmbH employs about 70 people and delivered 2020 sales of approximately $30 million.</p>\n<p><b>About Owens Corning</b></p>\n<p>Owens Corning is a global building and industrial materials leader. The company’s three integrated businesses are dedicated to the manufacture and advancement of a broad range of insulation, roofing and fiberglass composite materials. Leveraging the talents of 19,000 employees in 33 countries, Owens Corning provides innovative products and sustainable solutions that address energy efficiency, product safety, renewable energy, durable infrastructure, and labor productivity. These solutions provide a material difference to the company’s customers and make the world a better place. Based in Toledo, Ohio, USA, the company posted 2020 sales of $7.1 billion. Founded in 1938, it has been a Fortune 500® company for 67 consecutive years. For more information, please visit www.owenscorning.com.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Owens Corning Announces Acquisition of vliepa GmbH</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\">\nOwens Corning Announces Acquisition of vliepa GmbH\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 19:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/owens-corning-announces-acquisition-vliepa-113000958.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Combination expands company’s global nonwovens portfolio to accelerate growth and strengthen offerings to European building and construction markets\nTOLEDO, Ohio, July 13, 2021--(BUSINESS WIRE)--Owens...</p>\n\n<a href=\"https://finance.yahoo.com/news/owens-corning-announces-acquisition-vliepa-113000958.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GLW":"康宁","OC":"欧文斯科宁"},"source_url":"https://finance.yahoo.com/news/owens-corning-announces-acquisition-vliepa-113000958.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2151276565","content_text":"Combination expands company’s global nonwovens portfolio to accelerate growth and strengthen offerings to European building and construction markets\nTOLEDO, Ohio, July 13, 2021--(BUSINESS WIRE)--Owens Corning (NYSE: OC) announced today that it has acquired vliepa GmbH, which specializes in the coating, printing and finishing of nonwovens, paper and film for the building materials industry. The acquisition broadens Owens Corning’s significant global nonwovens portfolio to better serve European customers and accelerate growth of building and construction market applications in the region.\n\"This highly complementary combination advances our global strategy of expanding deeper into the value chain and investing in high-growth markets,\" said Marcio Sandri, President of Owens Corning’s Composites business. \"The acquisition adds immediate coating capacity for our customers in the building materials industry, along with supporting the transformation of the construction market from traditional materials to innovative, glass-faced solutions.\"\nWith this transaction, Owens Corning has taken ownership of two production facilities in Brüggen, Germany. Terms of the transaction were not released.\n\"I am very excited about our new opportunities with Owens Corning,\" said Eric Schillings, Managing Partner of vliepa GmbH. \"Leveraging their broad enterprise capabilities and market-leading positions, Owens Corning will help us expand in our markets and accelerate our growth. I am confident that vliepa will have a bright future in the new organization.\"\nThe acquisition reinforces Owens Corning’s commitment to its global nonwovens business, which delivers differentiated solutions.\n\"We believe vliepa‘s technology and capabilities are an ideal complement to our nonwoven solutions, manufacturing capacity, and commercial relationships,\" added Sandri. \"Our combined organization will address several key macrotrends, including sustainability, lightweight building materials, and more labor-efficient construction solutions, by delivering enhanced performance in a variety of applications, including Polyiso (polyisocyanurate) insulation and gypsum boards.\"\nIn total, vliepa GmbH employs about 70 people and delivered 2020 sales of approximately $30 million.\nAbout Owens Corning\nOwens Corning is a global building and industrial materials leader. The company’s three integrated businesses are dedicated to the manufacture and advancement of a broad range of insulation, roofing and fiberglass composite materials. Leveraging the talents of 19,000 employees in 33 countries, Owens Corning provides innovative products and sustainable solutions that address energy efficiency, product safety, renewable energy, durable infrastructure, and labor productivity. These solutions provide a material difference to the company’s customers and make the world a better place. Based in Toledo, Ohio, USA, the company posted 2020 sales of $7.1 billion. Founded in 1938, it has been a Fortune 500® company for 67 consecutive years. For more information, please visit www.owenscorning.com.","news_type":1},"isVote":1,"tweetType":1,"viewCount":294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148671693,"gmtCreate":1625974810612,"gmtModify":1631890282610,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148671693","repostId":"1135090843","repostType":4,"repost":{"id":"1135090843","pubTimestamp":1625970902,"share":"https://www.laohu8.com/m/news/1135090843?lang=&edition=full","pubTime":"2021-07-11 10:35","market":"us","language":"en","title":"7 Earnings Reports to Watch Next Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1135090843","media":"InvestorPlace","summary":"Earnings reports will provide insight into how these companies are performing\nSource: Shutterstock\nT","content":"<p>Earnings reports will provide insight into how these companies are performing</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d277b8ff1b6b6711ba0749313119f04\" tg-width=\"1024\" tg-height=\"576\"><span>Source: Shutterstock</span></p>\n<p>The major U.S. banks are due to report their latest earnings the week of July 12, and the results can be expected to dominate the financial news cycle. The earnings will provide insights into the health and momentum of the economy as they provide a read on both business and consumer spending. With the economy sprinting coming out of the Covid-19 pandemic, the big commercial and investment banks are expected toreport strong results.</p>\n<p>The banks are also expected to begin rewarding shareholders after the U.S. Federal Reserve recently cleared them to again payout dividends and buyback their own stock. Wall Street estimates forecast that the six biggest U.S. banks could&nbsp;return more than $140 billion&nbsp;to shareholders in coming months through dividends and share buybacks.</p>\n<p>Here are seven of the biggest American banks with earnings reports next week:</p>\n<ul>\n <li><b>JPMorgan Chase</b>(NYSE:<b><u>JPM</u></b>)</li>\n <li><b>Goldman Sachs</b>(NYSE:<b><u>GS</u></b>)</li>\n <li><b>Bank of America</b>(NYSE:<b><u>BAC</u></b>)</li>\n <li><b>Citigroup</b>(NYSE:<b><u>C</u></b>)</li>\n <li><b>Wells Fargo</b>(NYSE:<b><u>WFC</u></b>)</li>\n <li><b>Morgan Stanley</b>(NYSE:<b><u>MS</u></b>)</li>\n <li><b>U.S. Bancorp</b>(NYSE:<b><u>USB</u></b>)</li>\n</ul>\n<p><b>JPMorgan Chase (JPM)</b></p>\n<p>First out of the gate next week is the biggest U.S. bank, JPMorgan Chase. The financial conglomerate led by Jamie Dimon has generated headlines for its spate of recent acquisitions. The bank has&nbsp;made 33 acquisitions&nbsp;so far this year, its biggest spending spree in several years. The deals have mostly involved small foreign money managers and digital banks in countries such as England and Brazil.</p>\n<p>JPMorgan Chase has said that it is pursuing acquisitions to contend with an ongoing low-interest-rate environment and greater competition from financial technology (fintech) companies.</p>\n<p>The deals completed in the first half of this year are on par with all the deals JPMorgan Chase completed last year. JPM stock has risen this year along with the entire bank sector. Year-to-date, JPM stock is up 22% to a July 9 open of $153.05. In the past 12 months, the stock has increased 66%. In this year’s first quarter, JPMorgan Chase’s earnings increased 477% to $4.50 per share diluted and beat analyst estimates of $3.06 a share. Earnings were given a significant boost by $5.2 billion of net reserves that the bank had built up in 2020 during the pandemic.</p>\n<p>For the&nbsp;second-quarter results&nbsp;to be released on July 13, analysts are forecasting revenue of $30 billion and earnings per share (EPS) of $3.03.</p>\n<p><b>Goldman Sachs (GS)</b></p>\n<p>Leading investment bank Goldman Sachs also reports&nbsp;second-quarter results&nbsp;on July 13, and expectations are high for blockbuster earnings. The venerable Wall Street firm set the bar high earlier this year when it reported record first quarter results that blew away expectations. Fueled by a record amount of investment banking activity, Goldman Sachs reported first quarter revenues of $17.7 billion, way ahead of the $12.6 billion forecast by analysts. EPS for the bank came in at $18.60, destroying the $10.22 estimated by analysts and 498% higher than in the first quarter of 2020.</p>\n<p>Can Goldman do it again with its second-quarter results? The&nbsp;consensus among analysts&nbsp;is for the investment bank to report second-quarter EPS of $9.52 a share, for year-over-year growth of 52%. Should Goldman Sachs beat expectations by a wide margin, it will likely propel the company’s share price to new heights. In this year’s first half, GS stock rose 40% to its July 9 opening price of $366. In the past year, the stock has gained 77%.</p>\n<p>Despite the big run in the bank’s share price, analysts see further gains in store. The&nbsp;median price target&nbsp;on GS stock is $415, implying another 13% gain in coming months.</p>\n<p><b>Bank of America (BAC)</b></p>\n<p>The second-largest U.S. bank by assets, Bank of America, reports its&nbsp;latest quarterly numbers&nbsp;on July 14. And the lender has been signaling that Wall Street should expect solid second-quarter results. Chief Executive Officer Brian Moynihan has been saying publicly that Bank of America is emerging from the pandemic a stronger and more competitive financial institution, helped by higher capital ratios and higher reserves. In the first quarter, the bank reported record levels of deposits, investment flows and investment banking revenues.</p>\n<p>Bank of America attracted the attention of investors when it announced on June 28 that it will increase its common stock&nbsp;dividend by 17%&nbsp;to 21 cents per share for the third quarter of this year. This came after the bank announced a $25 billion share buyback plan in April. For the second quarter, Bank of America is&nbsp;expected to report&nbsp;EPS of 77 cents, more than doubling Q2 2020’s $0.37.</p>\n<p>In this year’s first quarter, Bank of America posted EPS of 86 cents, up 115% year-over-year and above the consensus forecast of 66 cents. First quarter revenues were up a slight 0.2% to $22.8 billion, beating analysts’ estimates of $22.13 billion. BAC stock has climbed 32% higher year-to-date to $39.65 a share as of July 9. In the past 12 months, the share price has increased 73%. While the stock&nbsp;pulled back in the middle of June, next week’s earnings could spark the next leg higher.</p>\n<p><b>Citigroup (C)</b></p>\n<p>On July 14, we’ll also get earnings from Citigroup. And the latest results come at a time when C stock has been struggling and, at its July 9 level of $66.73 a share, is starting to look a little undervalued compared to its peers.</p>\n<p>Citigroup’s share price is up 11% year-to-date and has risen 34% over the last 52 weeks. Those are decent returns, but they trail the other big banks featured in this article. In the past month, Citigroup’s share price has slumped 14%. The&nbsp;June drop&nbsp;came after the bank warned that its trading revenue will likely decline by 30% this year on weak deal volumes.</p>\n<p>Despite the downward guidance, analysts still expect Citigroup to report earnings growth for the second quarter of this year. The bank is forecast to post EPS of $1.91 next week, which would be a year-over-year increase of nearly 300%. However, revenues are expected to come in at $17.35 billion, which would be about 10% lower than the second quarter of 2020 revenue of $19.77 billion. Many analysts revised down their revenue forecasts after Citigroup warned of rising costs. Chief Financial Officer Mark Mason said on June 16 that he expects&nbsp;second-quarter expenses&nbsp;to increase by as much as $11.6 billion.</p>\n<p><b>Wells Fargo (WFC)</b></p>\n<p>San Francisco-based Wells Fargo, which reports earnings on July 14, recently dominated headlines after it announced that it is closing out all of its existing&nbsp;personal lines of credit&nbsp;and will no longer offer the financial product. Lines of credit typically give retail customers loans of $3,000 to $100,000 and is often used to consolidate higher-interest credit card debt, pay for home renovations and fund college educations.</p>\n<p>The news came as a jolt to Wells Fargo customers, who were informed by the bank that the credit line closures “may have an impact on your credit score.”</p>\n<p>Eliminating the lines of credit is the latest move by Wells Fargo as it reviews its operations coming out the pandemic. The steps taken to date seem to be winning approval from investors. WFC stock is one of the best performing among banks this year. So far this year, Wells Fargo stock has gained 44% and now trades at $43.18. The share price is up 77% over the last year.For its second quarter, analysts expect Wells Fargo to report EPS of 93 cents on $17.78 billion in revenues.</p>\n<p><b>Morgan Stanley (MS)</b></p>\n<p>Investment bank Morgan Stanley won praise from investors a few weeks back after it became the first Wall Street firm to increase its dividend payout after passing the U.S. Federal Reserve’s latest stress test. A day after getting the all clear from the central bank, Morgan Stanley announced that it is&nbsp;doubling its quarterly dividend&nbsp;to 70 cents per share starting in this year’s third quarter and spending $12 billion to buy back its own stock. The share repurchase program will run for the next four quarters.</p>\n<p>The positive news for shareholders helped to extend a rally in MS stock, which is now up 31% year-to-date at $87.40 a share, and up 79% over the past 12 months. Similar to rival investment bank Goldman Sachs, Morgan Stanley’s first quarter revenue toppled analyst expectations. For the&nbsp;first three months&nbsp;of this year, Morgan Stanley reported EPS of $2.22 a share, a substantial improvement over projections of $1.70. And the company’s revenue increased 61% in the first quarter to a record $15.7 billion, beating analysts’ estimates by $1.6 billion.</p>\n<p>For the second quarter&nbsp;reporting on July 15, analysts forecast that Morgan Stanley will report EPS of $1.65 on revenue of $13.96 billion.</p>\n<p><b>U.S. Bancorp (USB)</b></p>\n<p>Probably the least-known bank on this list is Minneapolis, Minnesota-based U.S. Bancorp. While it primarily operates in the Midwest, U.S. Bancorp is currently the fifth-largest American bank with assets approaching $500 billion. Often referred to as a“super regional bank”because of its size and performance, the lender is a&nbsp;long-term holding&nbsp;of legendary investor Warren Buffett’s&nbsp;<b>Berkshire Hathaway</b>(NYSE:<b><u>BRK.B</u></b>) holding company. Buffett currently has more than $8 billion invested in USB stock.</p>\n<p>Year-to-date, USB stock is up 22%, opening July 9 at $56.08 a share. In the past 12 months, the share price has climbed 60% higher. However, like the rest of the banking sector, U.S. Bancorp’s stock pulled back over the past month, dipping 6% on worries that inflation is abating and interest rates may remain at historic lows over the medium-term.</p>\n<p>As for its earnings on July 15, analysts expect the lender to&nbsp;report EPS of $1.12&nbsp;for the second quarter on revenues of $5.63 billion. In&nbsp;this year’s first quarter, U.S. Bancorp reported EPS of $1.45, beating consensus estimates of 96 cents. First quarter revenue came in at $5.47 billion compared to analysts’ expectations of $5.53 billion.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Earnings Reports to Watch Next Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n7 Earnings Reports to Watch Next Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-11 10:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/earnings-reports-to-watch-next-week/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Earnings reports will provide insight into how these companies are performing\nSource: Shutterstock\nThe major U.S. banks are due to report their latest earnings the week of July 12, and the results can...</p>\n\n<a href=\"https://investorplace.com/earnings-reports-to-watch-next-week/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","JPM":"摩根大通","WFC":"富国银行","C":"花旗","MS":"摩根士丹利","USB":"美国合众银行","GS":"高盛"},"source_url":"https://investorplace.com/earnings-reports-to-watch-next-week/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135090843","content_text":"Earnings reports will provide insight into how these companies are performing\nSource: Shutterstock\nThe major U.S. banks are due to report their latest earnings the week of July 12, and the results can be expected to dominate the financial news cycle. The earnings will provide insights into the health and momentum of the economy as they provide a read on both business and consumer spending. With the economy sprinting coming out of the Covid-19 pandemic, the big commercial and investment banks are expected toreport strong results.\nThe banks are also expected to begin rewarding shareholders after the U.S. Federal Reserve recently cleared them to again payout dividends and buyback their own stock. Wall Street estimates forecast that the six biggest U.S. banks could return more than $140 billion to shareholders in coming months through dividends and share buybacks.\nHere are seven of the biggest American banks with earnings reports next week:\n\nJPMorgan Chase(NYSE:JPM)\nGoldman Sachs(NYSE:GS)\nBank of America(NYSE:BAC)\nCitigroup(NYSE:C)\nWells Fargo(NYSE:WFC)\nMorgan Stanley(NYSE:MS)\nU.S. Bancorp(NYSE:USB)\n\nJPMorgan Chase (JPM)\nFirst out of the gate next week is the biggest U.S. bank, JPMorgan Chase. The financial conglomerate led by Jamie Dimon has generated headlines for its spate of recent acquisitions. The bank has made 33 acquisitions so far this year, its biggest spending spree in several years. The deals have mostly involved small foreign money managers and digital banks in countries such as England and Brazil.\nJPMorgan Chase has said that it is pursuing acquisitions to contend with an ongoing low-interest-rate environment and greater competition from financial technology (fintech) companies.\nThe deals completed in the first half of this year are on par with all the deals JPMorgan Chase completed last year. JPM stock has risen this year along with the entire bank sector. Year-to-date, JPM stock is up 22% to a July 9 open of $153.05. In the past 12 months, the stock has increased 66%. In this year’s first quarter, JPMorgan Chase’s earnings increased 477% to $4.50 per share diluted and beat analyst estimates of $3.06 a share. Earnings were given a significant boost by $5.2 billion of net reserves that the bank had built up in 2020 during the pandemic.\nFor the second-quarter results to be released on July 13, analysts are forecasting revenue of $30 billion and earnings per share (EPS) of $3.03.\nGoldman Sachs (GS)\nLeading investment bank Goldman Sachs also reports second-quarter results on July 13, and expectations are high for blockbuster earnings. The venerable Wall Street firm set the bar high earlier this year when it reported record first quarter results that blew away expectations. Fueled by a record amount of investment banking activity, Goldman Sachs reported first quarter revenues of $17.7 billion, way ahead of the $12.6 billion forecast by analysts. EPS for the bank came in at $18.60, destroying the $10.22 estimated by analysts and 498% higher than in the first quarter of 2020.\nCan Goldman do it again with its second-quarter results? The consensus among analysts is for the investment bank to report second-quarter EPS of $9.52 a share, for year-over-year growth of 52%. Should Goldman Sachs beat expectations by a wide margin, it will likely propel the company’s share price to new heights. In this year’s first half, GS stock rose 40% to its July 9 opening price of $366. In the past year, the stock has gained 77%.\nDespite the big run in the bank’s share price, analysts see further gains in store. The median price target on GS stock is $415, implying another 13% gain in coming months.\nBank of America (BAC)\nThe second-largest U.S. bank by assets, Bank of America, reports its latest quarterly numbers on July 14. And the lender has been signaling that Wall Street should expect solid second-quarter results. Chief Executive Officer Brian Moynihan has been saying publicly that Bank of America is emerging from the pandemic a stronger and more competitive financial institution, helped by higher capital ratios and higher reserves. In the first quarter, the bank reported record levels of deposits, investment flows and investment banking revenues.\nBank of America attracted the attention of investors when it announced on June 28 that it will increase its common stock dividend by 17% to 21 cents per share for the third quarter of this year. This came after the bank announced a $25 billion share buyback plan in April. For the second quarter, Bank of America is expected to report EPS of 77 cents, more than doubling Q2 2020’s $0.37.\nIn this year’s first quarter, Bank of America posted EPS of 86 cents, up 115% year-over-year and above the consensus forecast of 66 cents. First quarter revenues were up a slight 0.2% to $22.8 billion, beating analysts’ estimates of $22.13 billion. BAC stock has climbed 32% higher year-to-date to $39.65 a share as of July 9. In the past 12 months, the share price has increased 73%. While the stock pulled back in the middle of June, next week’s earnings could spark the next leg higher.\nCitigroup (C)\nOn July 14, we’ll also get earnings from Citigroup. And the latest results come at a time when C stock has been struggling and, at its July 9 level of $66.73 a share, is starting to look a little undervalued compared to its peers.\nCitigroup’s share price is up 11% year-to-date and has risen 34% over the last 52 weeks. Those are decent returns, but they trail the other big banks featured in this article. In the past month, Citigroup’s share price has slumped 14%. The June drop came after the bank warned that its trading revenue will likely decline by 30% this year on weak deal volumes.\nDespite the downward guidance, analysts still expect Citigroup to report earnings growth for the second quarter of this year. The bank is forecast to post EPS of $1.91 next week, which would be a year-over-year increase of nearly 300%. However, revenues are expected to come in at $17.35 billion, which would be about 10% lower than the second quarter of 2020 revenue of $19.77 billion. Many analysts revised down their revenue forecasts after Citigroup warned of rising costs. Chief Financial Officer Mark Mason said on June 16 that he expects second-quarter expenses to increase by as much as $11.6 billion.\nWells Fargo (WFC)\nSan Francisco-based Wells Fargo, which reports earnings on July 14, recently dominated headlines after it announced that it is closing out all of its existing personal lines of credit and will no longer offer the financial product. Lines of credit typically give retail customers loans of $3,000 to $100,000 and is often used to consolidate higher-interest credit card debt, pay for home renovations and fund college educations.\nThe news came as a jolt to Wells Fargo customers, who were informed by the bank that the credit line closures “may have an impact on your credit score.”\nEliminating the lines of credit is the latest move by Wells Fargo as it reviews its operations coming out the pandemic. The steps taken to date seem to be winning approval from investors. WFC stock is one of the best performing among banks this year. So far this year, Wells Fargo stock has gained 44% and now trades at $43.18. The share price is up 77% over the last year.For its second quarter, analysts expect Wells Fargo to report EPS of 93 cents on $17.78 billion in revenues.\nMorgan Stanley (MS)\nInvestment bank Morgan Stanley won praise from investors a few weeks back after it became the first Wall Street firm to increase its dividend payout after passing the U.S. Federal Reserve’s latest stress test. A day after getting the all clear from the central bank, Morgan Stanley announced that it is doubling its quarterly dividend to 70 cents per share starting in this year’s third quarter and spending $12 billion to buy back its own stock. The share repurchase program will run for the next four quarters.\nThe positive news for shareholders helped to extend a rally in MS stock, which is now up 31% year-to-date at $87.40 a share, and up 79% over the past 12 months. Similar to rival investment bank Goldman Sachs, Morgan Stanley’s first quarter revenue toppled analyst expectations. For the first three months of this year, Morgan Stanley reported EPS of $2.22 a share, a substantial improvement over projections of $1.70. And the company’s revenue increased 61% in the first quarter to a record $15.7 billion, beating analysts’ estimates by $1.6 billion.\nFor the second quarter reporting on July 15, analysts forecast that Morgan Stanley will report EPS of $1.65 on revenue of $13.96 billion.\nU.S. Bancorp (USB)\nProbably the least-known bank on this list is Minneapolis, Minnesota-based U.S. Bancorp. While it primarily operates in the Midwest, U.S. Bancorp is currently the fifth-largest American bank with assets approaching $500 billion. Often referred to as a“super regional bank”because of its size and performance, the lender is a long-term holding of legendary investor Warren Buffett’s Berkshire Hathaway(NYSE:BRK.B) holding company. Buffett currently has more than $8 billion invested in USB stock.\nYear-to-date, USB stock is up 22%, opening July 9 at $56.08 a share. In the past 12 months, the share price has climbed 60% higher. However, like the rest of the banking sector, U.S. Bancorp’s stock pulled back over the past month, dipping 6% on worries that inflation is abating and interest rates may remain at historic lows over the medium-term.\nAs for its earnings on July 15, analysts expect the lender to report EPS of $1.12 for the second quarter on revenues of $5.63 billion. In this year’s first quarter, U.S. Bancorp reported EPS of $1.45, beating consensus estimates of 96 cents. First quarter revenue came in at $5.47 billion compared to analysts’ expectations of $5.53 billion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141552350,"gmtCreate":1625882115070,"gmtModify":1631890282613,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141552350","repostId":"1145284684","repostType":4,"repost":{"id":"1145284684","pubTimestamp":1625878443,"share":"https://www.laohu8.com/m/news/1145284684?lang=&edition=full","pubTime":"2021-07-10 08:54","market":"us","language":"en","title":"Taiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1145284684","media":"seekingalpha","summary":"Summary\n\nTSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, man","content":"<p><b>Summary</b></p>\n<ul>\n <li>TSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, manufacturing 11,617 different products using 281 distinct technologies for 510 different customers.</li>\n <li>TSMC and fellow Taiwan foundry United Microelectronics Corporation are expected to benefit from a chip-supply crisis that is adversely impacting automakers.</li>\n <li>TSMC benefits from a gross margin nearly twice that of UMC.</li>\n <li>40% of revenues are from nodes &lt;14nm, below the smallest node of UMC.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d80e662ebb3b78dd0445ecc891cf8986\" tg-width=\"768\" tg-height=\"513\"><span>BING-JHEN HONG/iStock Editorial via Getty Images</span></p>\n<p>Taiwan Semiconductor Manufacturing Company Limited or TSMC (TSM), and United Microelectronics Corporation or UMC (UMC) are both headquartered in Taiwan and both manufacture semiconductors for companies on a contract basis. They both provide high quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry and are defined as pure-play foundries.</p>\n<p>While they have similarities, the two companies are vastly different with different business models. TSMC started as and has always been a leading-edge company, manufacturing chips at the smallest dimensions. UMC, on the other hand, Taiwan’s first semiconductor company, has chosen the 14nm node as the smallest dimension it will manufacture.</p>\n<p>To illustrate the differences in models, Chart 1 shows revenues for both companies based on technology node. The key difference is the &lt;14nm node, where TSMC generated 41.4% of its revenue compared to 0% for UMC.</p>\n<p>Chart 1 also shows that TSMC held $43 billion in revenues in 2020 versus $6 billion for UMC. Importantly, it shows also shows the financial dominance of TSMC, since UMC holds second place in the global foundry market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf3b088585f8a624c6665040756e940f\" tg-width=\"640\" tg-height=\"462\"><span>Chart 1</span></p>\n<p>Much of TSMC’s revenues are on the &lt;14nm node, which increased from 29.4% of revenues in 2019 to 41.4% in 2020. Since UMC’s smallest node is 28nm/14nm, UMC is investing heavily at that node, and its share of revenue increased from 11.3% in 2019 to 13.6% in 2020. In contrast, in 2020 TSMC’s share at the 28nm/14nm node decreased to 30.8% from 37.7% in 2019.</p>\n<p><b>Expanding Capacity</b></p>\n<p><b>Leading Edge Nodes</b></p>\n<p>TSMC generates about 1/3 of its revenues from the 28nm/14nm, and TSMC has 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent).</p>\n<p>In TSMC’sQ1 2021 earnings call, TSMC’s VP and CFO Wendell Huang noted:</p>\n<blockquote>\n “In order to meet the increasing demand for our advanced and specialty technologies in the next several years, we have decided to raise our full year 2021 CapEx to be around USD 30 billion. About 80% of the 2021 capital budget will be allocated for advanced process technologies, including 3-nanometer, 5-nanometer and 7-nanometer. About 10% will be spent for advanced packaging and mask making, and about 10% will be spent for specialty technologies.”\n</blockquote>\n<p>TSMC expects to invest about $100 billion through the next 3 years to increase capacity, to support the manufacturing and R&amp;D of leading-edge and specialty technologies. Its N5 is already in its second year of volume production, contributing around 20% of our wafer revenue in 2021. N4 risk production is targeted for second half this year and volume production in 2022.</p>\n<p>Among TSMC's facilities to go online in the next three to four years are the company's&nbsp;fab in Arizona&nbsp;as well as its first 2nm-capable fab in Taiwan. The company needs to build and equip its N5-capable fab in Arizona. The facility will cost around $12 billion, will have a capacity of 20,000 wafer starts per month (WSPM), and will come online in 2024.</p>\n<p><b>28nm Nodes</b></p>\n<p>The global semiconductor shortage is one of the catalysts prompting foundry manufacturers to build new fabs, particularly at the 28nm node, as many automobile chips are manufactured at that node. While I have devoted four Seeking Alpha articles on trying to pin down what devices are undersupplied and could only find microcontrollers, in this article, I will concede for the sake of argument, that it is not due to hoarding but inept manufacturing supply chains.</p>\n<p>As a result, governments are spending heavily on this industry to expand the total production capacity. These free handouts are a second catalyst for new 28nm node fab construction.</p>\n<p>A strong demand for wafers from the consumer electronics industry has led to increased shipments of UMC’s 28nm wafers, which saw 18% sequential revenue growth in the last reported quarter. In addition, UMC has been focused on production for the automotive industry as semiconductors for electric and self-driving cars are expected to be a major growth driver for the company. However, global automotive semiconductors are only a $40 billion market, compared to a global semiconductor market of $525 billion. That is growing as more semiconductors are used per vehicle each year and because EVs use more semiconductors than internal combustion vehicles.</p>\n<p>There is a supply-demand imbalance in mature nodes, as most of the capacity expansion has been in advanced nodes, but companies have not addressed the mature nodes. The technology node is central to the latest auto chip crisis, while at the same time Sony has moved its design of CMOS Integrated Sensors (\"CIS\") for smartphones to 28nm.</p>\n<p>On April 22, TSMC announced plans to build a chip fabrication facility in China is at the receiving end of opposition from critics. The plant is set to make semiconductors built on the mature 28nm process node. The Nanjing plant currently has an installed capacity of 20,000 wafers per month. An investment of $2.8 billion and expecting mass-production in 2023, the expansion will double capacity to 40,000 wafers per month.</p>\n<p>TSMC has global 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent). The new fab with a 20,000 wafer per month capacity represents just 2% of the company’s total capacity.</p>\n<p>UMC also expanded its production of 28nm (with a migration to 40nm) process at its Nanke 12-inch Fab 12A P6 plant in Taiwan. It currently has an 87,000 wafer per month capacity. The total investment in the capacity expansion plan is estimated to be approximately NT$100 billion. The P6 expansion is scheduled for production in the second quarter of 2023, and has a capacity of just 10,000 wafers per month.</p>\n<p>The P6 program is supported by a multi-year's product alignment between UMC and the involved customers that includes a loading protection mechanism that will ensure the P6 capacity is maintained at a healthy loading level.</p>\n<p>UMC has total 12 fabs in production with combined capacity close to 800,000 wafers per month (8-in equivalent).</p>\n<p><b>Price Per Wafer</b></p>\n<p>Chart 2 shows the gross profit by node for an IC device. It partially explains the rationale behind TSMC’s business model to move to advanced nodes, while also explaining why the company chose to leave its 28nm node undersupplied until recent external forces prompted it to build its China fab.</p>\n<p>Gross profits per 300-mm wafer are $2,835 for a 28nm node versus $8,695 for a 3nm node.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e241c85dd84eb71f54c3b11812e6599\" tg-width=\"640\" tg-height=\"462\"><span>Chart 2</span></p>\n<p>Chart 3 shows capex spend by node for ICs. Capex spend (building + equipment) at 28nm is $100,000 per wafer, which more than triples to $320,000 at 3nm.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1f8f60218f2b914e5847e2eef8aa39c3\" tg-width=\"640\" tg-height=\"462\"><span>Chart 3</span></p>\n<p><b>Customer Base</b></p>\n<p>Chart 4 shows that Apple (AAPL) was the largest customer of TSMC in 2020, representing 21% of revenues. Keep in mind that in addition to TSMC’s processors going into iPhones, TSMC also fabricates the M1, which powers the new MacBook Air, 13-inch MacBook Pro, and Mac mini and is Apple's first custom-designed Arm-based chip for Mac.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/354a97772e16c2a05dbccc89556de9eb\" tg-width=\"640\" tg-height=\"465\"><span>Chart 4</span></p>\n<p>TSMC has upgraded its manufacturing capabilities countless times to keep Apple’s latest chips at the bleeding edge of processor technologies, since its first chip produced for Apple was installed in the Apple iPhone 6 and iPhone 6 Plus, which were introduced on September 9, 2014.</p>\n<p>Chart 5 shows that the number of transistors increased from 2 billion for the iPhone 6 to 11.8 billion for the current iPhone 12.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/108ef270fe60691ec5bc8c7f0a061d9c\" tg-width=\"640\" tg-height=\"462\"><span>Chart 5</span></p>\n<p>Thus, investors must consider that:</p>\n<p>Any positive developments from Apple will impact TSMC positively, and positive technological developments from TSMC will impact Apple positively. For example, as long as TSMC is the major manufacturer of Apple chips, growth in Apple or new technologies developed by Apple requiring chips (such as Auto or ADAS), then TSMC will gain.</p>\n<p>Secondly, because of capacity limitations and technology node demands, any expansion in capacity from TSMC will be beneficial to Apple as it moves to smaller nodes while consuming about 25% of TSMC’s chip output on a revenue basis.</p>\n<p>UMC is less transparent and doesn’t provide a breakdown by customer. UMC’s primary customers include premier integrated device manufacturers, such as Texas Instruments(NASDAQ:TXN)and Intel Mobile(NASDAQ:INTC), plus leading fabless design companies, such as MediaTek(OTCPK:MDTKF), Realtek, Qualcomm(NASDAQ:QCOM)and Novatek.</p>\n<p>In August 2018, UMC announced it would pause research for advancing the productional technology of chips under 10nm nodes. As shown in the figure above, since 2018, the corresponding proportion of the company's advanced processes has been reduced to zero, but for mature nodes such as 65nm and 28nm, the proportion has been increased.</p>\n<p><b>Investor Takeaways</b>: Is TSM Or UMC Stock A Better Buy?</p>\n<p>Both companies compete in the same industry, but their business models are a differentiating metric. TSMC generates most of its revenue on nodes smaller than UMC’s (Chart 1), and most of its planned capex will focus new fabs making ICs at increasing smaller nodes.</p>\n<p><b>TSMC Positives</b></p>\n<p>TSMC’s share of the pure-play foundry market was 57% share in 2020, up from 55% in 2019. UMC’s share was constant at slightly less than 8%.</p>\n<p>TSMC benefits from the smaller nodes. Although capex increases with decreasing nodes (Chart 3), so too does gross profit (Chart 2). Thus, TSM has higher revenues than UMC: $48.2B vs $6.283B.</p>\n<ul>\n <li><p>TSMC also has higher annual earnings (EBITDA): $33B vs. UMC $2.349B.</p></li>\n <li><p>TSMC ($613B) has a higher market cap than UMC ($23.4B).</p></li>\n <li><p>TSMC has more cash on hand: $23.3B vs. UMC ($3.76B).</p></li>\n <li><p>TSMC has a higher EPS (3.99) than UMC (0.59).</p></li>\n</ul>\n<p>Seeking Alpha’s quant ratings are derived by measuring a stock's financial metrics against other stocks in the sector on the basis of value, growth, profitability, momentum and analysts’ earnings revisions. In Table 1, both stocks have high rankings. TSMC has a quant rating of 4.63 and UMC has a quant rating of 4.54.</p>\n<p><img src=\"https://static.tigerbbs.com/55db72bd38ddd1d46c2ec7a6ccf6307f\" tg-width=\"640\" tg-height=\"117\" referrerpolicy=\"no-referrer\"></p>\n<p>Gross margin for TSMC and UMC is shown in Table 2. A positive for TSMC, gross margin is significantly ahead of UMC and the average of all foundries. The Street expects 3Q21 gross margin will improve to 52.9%, given a higher revenue scale, tight foundry supply and improved efficiency of 5nm production.</p>\n<p><img src=\"https://static.tigerbbs.com/4ab6dce4d14398755080d9db48522121\" tg-width=\"640\" tg-height=\"126\" referrerpolicy=\"no-referrer\"></p>\n<p><b>UMC Positives</b></p>\n<p>The comparison of other financial metrics, UMC has stronger financials:</p>\n<ul>\n <li><p>UMC has a lower P/E ratio than TSM: 21.8 vs 28.9</p></li>\n <li><p>UMC has less debt than TSM: $2.47B vs $15.4B.</p></li>\n <li><p>UMC YTD gains are higher at: 10.558 vs. TSM (8.922).</p></li>\n</ul>\n<p>Table 3 shows stock performance in percent growth for TSM and UMC. In the past year, UMC stock has outperformed TSMC, and did so in the 3-year and 5-year period. But in a 10-year period, TSMC is the better choice.</p>\n<p><img src=\"https://static.tigerbbs.com/7533369f256853d498f5492752417e05\" tg-width=\"640\" tg-height=\"172\" referrerpolicy=\"no-referrer\"></p>\n<p>TSMC is the clear winner over UMC going forward. The company chose its strategy to build chips at the &lt;7nm node. The fact that it is building a 28nm fab in China, the “sweet spot” for UMC, coupled with a new 28nm SMIC (OTCQX:SMICY) fab, will mean lost market share at this node for UMC.</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>Taiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?</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\">\nTaiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 08:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4438509-taiwan-semiconductor-vs-united-microelectronics-stock><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, manufacturing 11,617 different products using 281 distinct technologies for 510 different customers.\n...</p>\n\n<a href=\"https://seekingalpha.com/article/4438509-taiwan-semiconductor-vs-united-microelectronics-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UMC":"联电","TSM":"台积电"},"source_url":"https://seekingalpha.com/article/4438509-taiwan-semiconductor-vs-united-microelectronics-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145284684","content_text":"Summary\n\nTSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, manufacturing 11,617 different products using 281 distinct technologies for 510 different customers.\nTSMC and fellow Taiwan foundry United Microelectronics Corporation are expected to benefit from a chip-supply crisis that is adversely impacting automakers.\nTSMC benefits from a gross margin nearly twice that of UMC.\n40% of revenues are from nodes <14nm, below the smallest node of UMC.\n\nBING-JHEN HONG/iStock Editorial via Getty Images\nTaiwan Semiconductor Manufacturing Company Limited or TSMC (TSM), and United Microelectronics Corporation or UMC (UMC) are both headquartered in Taiwan and both manufacture semiconductors for companies on a contract basis. They both provide high quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry and are defined as pure-play foundries.\nWhile they have similarities, the two companies are vastly different with different business models. TSMC started as and has always been a leading-edge company, manufacturing chips at the smallest dimensions. UMC, on the other hand, Taiwan’s first semiconductor company, has chosen the 14nm node as the smallest dimension it will manufacture.\nTo illustrate the differences in models, Chart 1 shows revenues for both companies based on technology node. The key difference is the <14nm node, where TSMC generated 41.4% of its revenue compared to 0% for UMC.\nChart 1 also shows that TSMC held $43 billion in revenues in 2020 versus $6 billion for UMC. Importantly, it shows also shows the financial dominance of TSMC, since UMC holds second place in the global foundry market.\nChart 1\nMuch of TSMC’s revenues are on the <14nm node, which increased from 29.4% of revenues in 2019 to 41.4% in 2020. Since UMC’s smallest node is 28nm/14nm, UMC is investing heavily at that node, and its share of revenue increased from 11.3% in 2019 to 13.6% in 2020. In contrast, in 2020 TSMC’s share at the 28nm/14nm node decreased to 30.8% from 37.7% in 2019.\nExpanding Capacity\nLeading Edge Nodes\nTSMC generates about 1/3 of its revenues from the 28nm/14nm, and TSMC has 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent).\nIn TSMC’sQ1 2021 earnings call, TSMC’s VP and CFO Wendell Huang noted:\n\n “In order to meet the increasing demand for our advanced and specialty technologies in the next several years, we have decided to raise our full year 2021 CapEx to be around USD 30 billion. About 80% of the 2021 capital budget will be allocated for advanced process technologies, including 3-nanometer, 5-nanometer and 7-nanometer. About 10% will be spent for advanced packaging and mask making, and about 10% will be spent for specialty technologies.”\n\nTSMC expects to invest about $100 billion through the next 3 years to increase capacity, to support the manufacturing and R&D of leading-edge and specialty technologies. Its N5 is already in its second year of volume production, contributing around 20% of our wafer revenue in 2021. N4 risk production is targeted for second half this year and volume production in 2022.\nAmong TSMC's facilities to go online in the next three to four years are the company's fab in Arizona as well as its first 2nm-capable fab in Taiwan. The company needs to build and equip its N5-capable fab in Arizona. The facility will cost around $12 billion, will have a capacity of 20,000 wafer starts per month (WSPM), and will come online in 2024.\n28nm Nodes\nThe global semiconductor shortage is one of the catalysts prompting foundry manufacturers to build new fabs, particularly at the 28nm node, as many automobile chips are manufactured at that node. While I have devoted four Seeking Alpha articles on trying to pin down what devices are undersupplied and could only find microcontrollers, in this article, I will concede for the sake of argument, that it is not due to hoarding but inept manufacturing supply chains.\nAs a result, governments are spending heavily on this industry to expand the total production capacity. These free handouts are a second catalyst for new 28nm node fab construction.\nA strong demand for wafers from the consumer electronics industry has led to increased shipments of UMC’s 28nm wafers, which saw 18% sequential revenue growth in the last reported quarter. In addition, UMC has been focused on production for the automotive industry as semiconductors for electric and self-driving cars are expected to be a major growth driver for the company. However, global automotive semiconductors are only a $40 billion market, compared to a global semiconductor market of $525 billion. That is growing as more semiconductors are used per vehicle each year and because EVs use more semiconductors than internal combustion vehicles.\nThere is a supply-demand imbalance in mature nodes, as most of the capacity expansion has been in advanced nodes, but companies have not addressed the mature nodes. The technology node is central to the latest auto chip crisis, while at the same time Sony has moved its design of CMOS Integrated Sensors (\"CIS\") for smartphones to 28nm.\nOn April 22, TSMC announced plans to build a chip fabrication facility in China is at the receiving end of opposition from critics. The plant is set to make semiconductors built on the mature 28nm process node. The Nanjing plant currently has an installed capacity of 20,000 wafers per month. An investment of $2.8 billion and expecting mass-production in 2023, the expansion will double capacity to 40,000 wafers per month.\nTSMC has global 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent). The new fab with a 20,000 wafer per month capacity represents just 2% of the company’s total capacity.\nUMC also expanded its production of 28nm (with a migration to 40nm) process at its Nanke 12-inch Fab 12A P6 plant in Taiwan. It currently has an 87,000 wafer per month capacity. The total investment in the capacity expansion plan is estimated to be approximately NT$100 billion. The P6 expansion is scheduled for production in the second quarter of 2023, and has a capacity of just 10,000 wafers per month.\nThe P6 program is supported by a multi-year's product alignment between UMC and the involved customers that includes a loading protection mechanism that will ensure the P6 capacity is maintained at a healthy loading level.\nUMC has total 12 fabs in production with combined capacity close to 800,000 wafers per month (8-in equivalent).\nPrice Per Wafer\nChart 2 shows the gross profit by node for an IC device. It partially explains the rationale behind TSMC’s business model to move to advanced nodes, while also explaining why the company chose to leave its 28nm node undersupplied until recent external forces prompted it to build its China fab.\nGross profits per 300-mm wafer are $2,835 for a 28nm node versus $8,695 for a 3nm node.\nChart 2\nChart 3 shows capex spend by node for ICs. Capex spend (building + equipment) at 28nm is $100,000 per wafer, which more than triples to $320,000 at 3nm.\nChart 3\nCustomer Base\nChart 4 shows that Apple (AAPL) was the largest customer of TSMC in 2020, representing 21% of revenues. Keep in mind that in addition to TSMC’s processors going into iPhones, TSMC also fabricates the M1, which powers the new MacBook Air, 13-inch MacBook Pro, and Mac mini and is Apple's first custom-designed Arm-based chip for Mac.\nChart 4\nTSMC has upgraded its manufacturing capabilities countless times to keep Apple’s latest chips at the bleeding edge of processor technologies, since its first chip produced for Apple was installed in the Apple iPhone 6 and iPhone 6 Plus, which were introduced on September 9, 2014.\nChart 5 shows that the number of transistors increased from 2 billion for the iPhone 6 to 11.8 billion for the current iPhone 12.\nChart 5\nThus, investors must consider that:\nAny positive developments from Apple will impact TSMC positively, and positive technological developments from TSMC will impact Apple positively. For example, as long as TSMC is the major manufacturer of Apple chips, growth in Apple or new technologies developed by Apple requiring chips (such as Auto or ADAS), then TSMC will gain.\nSecondly, because of capacity limitations and technology node demands, any expansion in capacity from TSMC will be beneficial to Apple as it moves to smaller nodes while consuming about 25% of TSMC’s chip output on a revenue basis.\nUMC is less transparent and doesn’t provide a breakdown by customer. UMC’s primary customers include premier integrated device manufacturers, such as Texas Instruments(NASDAQ:TXN)and Intel Mobile(NASDAQ:INTC), plus leading fabless design companies, such as MediaTek(OTCPK:MDTKF), Realtek, Qualcomm(NASDAQ:QCOM)and Novatek.\nIn August 2018, UMC announced it would pause research for advancing the productional technology of chips under 10nm nodes. As shown in the figure above, since 2018, the corresponding proportion of the company's advanced processes has been reduced to zero, but for mature nodes such as 65nm and 28nm, the proportion has been increased.\nInvestor Takeaways: Is TSM Or UMC Stock A Better Buy?\nBoth companies compete in the same industry, but their business models are a differentiating metric. TSMC generates most of its revenue on nodes smaller than UMC’s (Chart 1), and most of its planned capex will focus new fabs making ICs at increasing smaller nodes.\nTSMC Positives\nTSMC’s share of the pure-play foundry market was 57% share in 2020, up from 55% in 2019. UMC’s share was constant at slightly less than 8%.\nTSMC benefits from the smaller nodes. Although capex increases with decreasing nodes (Chart 3), so too does gross profit (Chart 2). Thus, TSM has higher revenues than UMC: $48.2B vs $6.283B.\n\nTSMC also has higher annual earnings (EBITDA): $33B vs. UMC $2.349B.\nTSMC ($613B) has a higher market cap than UMC ($23.4B).\nTSMC has more cash on hand: $23.3B vs. UMC ($3.76B).\nTSMC has a higher EPS (3.99) than UMC (0.59).\n\nSeeking Alpha’s quant ratings are derived by measuring a stock's financial metrics against other stocks in the sector on the basis of value, growth, profitability, momentum and analysts’ earnings revisions. In Table 1, both stocks have high rankings. TSMC has a quant rating of 4.63 and UMC has a quant rating of 4.54.\n\nGross margin for TSMC and UMC is shown in Table 2. A positive for TSMC, gross margin is significantly ahead of UMC and the average of all foundries. The Street expects 3Q21 gross margin will improve to 52.9%, given a higher revenue scale, tight foundry supply and improved efficiency of 5nm production.\n\nUMC Positives\nThe comparison of other financial metrics, UMC has stronger financials:\n\nUMC has a lower P/E ratio than TSM: 21.8 vs 28.9\nUMC has less debt than TSM: $2.47B vs $15.4B.\nUMC YTD gains are higher at: 10.558 vs. TSM (8.922).\n\nTable 3 shows stock performance in percent growth for TSM and UMC. In the past year, UMC stock has outperformed TSMC, and did so in the 3-year and 5-year period. But in a 10-year period, TSMC is the better choice.\n\nTSMC is the clear winner over UMC going forward. The company chose its strategy to build chips at the <7nm node. The fact that it is building a 28nm fab in China, the “sweet spot” for UMC, coupled with a new 28nm SMIC (OTCQX:SMICY) fab, will mean lost market share at this node for UMC.","news_type":1},"isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141558400,"gmtCreate":1625882061600,"gmtModify":1631890282617,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141558400","repostId":"1173374462","repostType":4,"repost":{"id":"1173374462","pubTimestamp":1625840008,"share":"https://www.laohu8.com/m/news/1173374462?lang=&edition=full","pubTime":"2021-07-09 22:13","market":"us","language":"en","title":"Meme Stocks Like GameStop and AMC Reflect Market Reality","url":"https://stock-news.laohu8.com/highlight/detail?id=1173374462","media":"Thestreet","summary":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment","content":"<p>Gamestop&nbsp;(<b>GME</b>)&nbsp;made some investors rich… and then it broke many more. Investing in AMC Entertainment&nbsp;(<b>AMC</b>)&nbsp;did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.</p>\n<p>How?</p>\n<p>It’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?</p>\n<p>Have you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?</p>\n<p>\"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.</p>\n<p>\"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.</p>\n<p>\"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"</p>\n<p>Collins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"</p>\n<p>Assets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.</p>\n<p>That’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.</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 Like GameStop and AMC Reflect Market Reality</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 Like GameStop and AMC Reflect Market Reality\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 22:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality><strong>Thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment (AMC) did the exact same thing. These two stocks represent, if not failing businesses, at least ...</p>\n\n<a href=\"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","AMC":"AMC院线"},"source_url":"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173374462","content_text":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment (AMC) did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.\nHow?\nIt’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?\nHave you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?\n\"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.\n\"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.\n\"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"\nCollins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"\nAssets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.\nThat’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.","news_type":1},"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154121414,"gmtCreate":1625491056738,"gmtModify":1631890282618,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/154121414","repostId":"1155435134","repostType":4,"repost":{"id":"1155435134","pubTimestamp":1625483300,"share":"https://www.laohu8.com/m/news/1155435134?lang=&edition=full","pubTime":"2021-07-05 19:08","market":"sh","language":"en","title":"What Does the End of the Quarter Mean for Portfolio Management?","url":"https://stock-news.laohu8.com/highlight/detail?id=1155435134","media":"investopedia","summary":"The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the","content":"<p>The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the financial calendar. Thefour quartersend in March, or Q1; June, or Q2; September, or Q3; and December, or Q4. These are considered important times for investors. Many businesses, analysts, government agencies, and theFederal Reserverelease critical new data about various markets or economic indicators at the end of a quarter.</p>\n<p>There's a widely held belief in financial circles that hedge funds, pension funds, and insurance companies always rebalance their portfolios at the end of each quarter. While no proof or evidence has ever been put forward to confirm this practice or its prevalence, the very idea reinforces the concept that the end of a quarter is significant.</p>\n<p>Even if major financial players do not always rebalance at the end of quarters, many investors use this time to re-evaluate their ownportfolio management, changing which assets comprise the portfolio or setting new portfolio targets. Not only is it a good idea for investors to monitor their investments from time-to-time but rarely is so much new, actionable information released as during the end of a quarter.</p>\n<p>Rebalancing a Portfolio</p>\n<p>Rebalancinginvolves the periodic sale and purchase of assets within a portfolio to maintain a target ratio.2Consider an investor who wants his portfolio to be comprised of 50% growth stocks, 25% income stocks, and 25% bonds. If during Q1, the growth stocks outperform the other investments substantially, the investor may decide to sell some growth stocks or purchase more income stocks and bonds to bring the portfolio back to a 50-25-25 split.</p>\n<p>KEY TAKEAWAYS</p>\n<ul>\n <li>The end of the three-month period known as a financial quarter is considered an important time for investors.</li>\n <li>Companies, financial analysts, and government agencies (including the Fed) all release reports and critical data at the end of a quarter.</li>\n <li>Both retail and institutional investors often use the end of a quarter to re-evaluate and rebalance their portfolios.</li>\n</ul>\n<p>Traditional rebalancing involves trading the gains of well-performing assets, by selling high, for more low-performing assets, by buying low, at the end of each quarter. Theoretically, this serves to protect a portfolio from being too exposed or straying too far from its original strategy. However, pegging rebalances to the end of quarters relies on arbitrary calendar events which may not coincide with market movements. Nevertheless, the confluence of new reports that emerge at the end of quarters usually causes market reactions and should be of concern to most participants.</p>\n<p>Institutional Investors and Rebalancing</p>\n<p>It is not just individual investors who consider making portfolio moves at the end of quarters. Portfolio management is also important for institutional investors, like mutual funds and exchange-traded funds, or ETFs.3</p>\n<p>There are two forms of fund portfolio management: active and passive.4Passive funds generally peg their portfolios to market indexes and involve fewer changes in exchange for lower management fees. The end of a quarter is less significant for these types of funds, though if theirbenchmark indexeschange at this time, they will as well.</p>\n<p>Active funds have a manager or team of managers who take a more proactive approach to beat market average returns. These funds can be quite active during the end of quarters, especially if their portfolios need to be adjusted to meet their previously stated goals and strategies.</p>","source":"lsy1606203311635","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>What Does the End of the Quarter Mean for Portfolio Management?</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\">\nWhat Does the End of the Quarter Mean for Portfolio Management?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-05 19:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investopedia.com/ask/answers/122214/what-does-end-quarter-mean-portfolio-management.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral><strong>investopedia</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the financial calendar. Thefour quartersend in March, or Q1; June, or Q2; September, or Q3; and ...</p>\n\n<a href=\"https://www.investopedia.com/ask/answers/122214/what-does-end-quarter-mean-portfolio-management.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investopedia.com/ask/answers/122214/what-does-end-quarter-mean-portfolio-management.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155435134","content_text":"The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the financial calendar. Thefour quartersend in March, or Q1; June, or Q2; September, or Q3; and December, or Q4. These are considered important times for investors. Many businesses, analysts, government agencies, and theFederal Reserverelease critical new data about various markets or economic indicators at the end of a quarter.\nThere's a widely held belief in financial circles that hedge funds, pension funds, and insurance companies always rebalance their portfolios at the end of each quarter. While no proof or evidence has ever been put forward to confirm this practice or its prevalence, the very idea reinforces the concept that the end of a quarter is significant.\nEven if major financial players do not always rebalance at the end of quarters, many investors use this time to re-evaluate their ownportfolio management, changing which assets comprise the portfolio or setting new portfolio targets. Not only is it a good idea for investors to monitor their investments from time-to-time but rarely is so much new, actionable information released as during the end of a quarter.\nRebalancing a Portfolio\nRebalancinginvolves the periodic sale and purchase of assets within a portfolio to maintain a target ratio.2Consider an investor who wants his portfolio to be comprised of 50% growth stocks, 25% income stocks, and 25% bonds. If during Q1, the growth stocks outperform the other investments substantially, the investor may decide to sell some growth stocks or purchase more income stocks and bonds to bring the portfolio back to a 50-25-25 split.\nKEY TAKEAWAYS\n\nThe end of the three-month period known as a financial quarter is considered an important time for investors.\nCompanies, financial analysts, and government agencies (including the Fed) all release reports and critical data at the end of a quarter.\nBoth retail and institutional investors often use the end of a quarter to re-evaluate and rebalance their portfolios.\n\nTraditional rebalancing involves trading the gains of well-performing assets, by selling high, for more low-performing assets, by buying low, at the end of each quarter. Theoretically, this serves to protect a portfolio from being too exposed or straying too far from its original strategy. However, pegging rebalances to the end of quarters relies on arbitrary calendar events which may not coincide with market movements. Nevertheless, the confluence of new reports that emerge at the end of quarters usually causes market reactions and should be of concern to most participants.\nInstitutional Investors and Rebalancing\nIt is not just individual investors who consider making portfolio moves at the end of quarters. Portfolio management is also important for institutional investors, like mutual funds and exchange-traded funds, or ETFs.3\nThere are two forms of fund portfolio management: active and passive.4Passive funds generally peg their portfolios to market indexes and involve fewer changes in exchange for lower management fees. The end of a quarter is less significant for these types of funds, though if theirbenchmark indexeschange at this time, they will as well.\nActive funds have a manager or team of managers who take a more proactive approach to beat market average returns. These funds can be quite active during the end of quarters, especially if their portfolios need to be adjusted to meet their previously stated goals and strategies.","news_type":1},"isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152338274,"gmtCreate":1625269397098,"gmtModify":1631890282624,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/152338274","repostId":"1165340887","repostType":4,"isVote":1,"tweetType":1,"viewCount":175,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151384167,"gmtCreate":1625064058959,"gmtModify":1631890282626,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151384167","repostId":"1155548924","repostType":4,"repost":{"id":"1155548924","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":1625063251,"share":"https://www.laohu8.com/m/news/1155548924?lang=&edition=full","pubTime":"2021-06-30 22:27","market":"us","language":"en","title":"EV stocks surged in Wednesday morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1155548924","media":"Tiger Newspress","summary":"EV stocks surged in Wednesday morning trading.Nio, Li Auto&nbsp;and Tesla&nbsp;climbed between 0.7% and 5.6%.&nbsp;While&nbsp;Xpeng Motors&nbsp;fell&nbsp;0.7%.","content":"<p>EV stocks surged in Wednesday morning trading.Nio, Li Auto&nbsp;and Tesla&nbsp;climbed between 0.7% and 5.6%.&nbsp;While&nbsp;Xpeng Motors&nbsp;fell&nbsp;0.7%.</p>\n<p><img src=\"https://static.tigerbbs.com/5b3cdf9487d32d5f8f934cea51ae1ab2\" tg-width=\"375\" tg-height=\"352\"></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>EV stocks surged in Wednesday morning trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV stocks surged in Wednesday morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-30 22:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>EV stocks surged in Wednesday morning trading.Nio, Li Auto&nbsp;and Tesla&nbsp;climbed between 0.7% and 5.6%.&nbsp;While&nbsp;Xpeng Motors&nbsp;fell&nbsp;0.7%.</p>\n<p><img src=\"https://static.tigerbbs.com/5b3cdf9487d32d5f8f934cea51ae1ab2\" tg-width=\"375\" tg-height=\"352\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","XPEV":"小鹏汽车","NIO":"蔚来","LI":"理想汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155548924","content_text":"EV stocks surged in Wednesday morning trading.Nio, Li Auto and Tesla climbed between 0.7% and 5.6%. While Xpeng Motors fell 0.7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":154121414,"gmtCreate":1625491056738,"gmtModify":1631890282618,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/154121414","repostId":"1155435134","repostType":4,"repost":{"id":"1155435134","pubTimestamp":1625483300,"share":"https://www.laohu8.com/m/news/1155435134?lang=&edition=full","pubTime":"2021-07-05 19:08","market":"sh","language":"en","title":"What Does the End of the Quarter Mean for Portfolio Management?","url":"https://stock-news.laohu8.com/highlight/detail?id=1155435134","media":"investopedia","summary":"The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the","content":"<p>The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the financial calendar. Thefour quartersend in March, or Q1; June, or Q2; September, or Q3; and December, or Q4. These are considered important times for investors. Many businesses, analysts, government agencies, and theFederal Reserverelease critical new data about various markets or economic indicators at the end of a quarter.</p>\n<p>There's a widely held belief in financial circles that hedge funds, pension funds, and insurance companies always rebalance their portfolios at the end of each quarter. While no proof or evidence has ever been put forward to confirm this practice or its prevalence, the very idea reinforces the concept that the end of a quarter is significant.</p>\n<p>Even if major financial players do not always rebalance at the end of quarters, many investors use this time to re-evaluate their ownportfolio management, changing which assets comprise the portfolio or setting new portfolio targets. Not only is it a good idea for investors to monitor their investments from time-to-time but rarely is so much new, actionable information released as during the end of a quarter.</p>\n<p>Rebalancing a Portfolio</p>\n<p>Rebalancinginvolves the periodic sale and purchase of assets within a portfolio to maintain a target ratio.2Consider an investor who wants his portfolio to be comprised of 50% growth stocks, 25% income stocks, and 25% bonds. If during Q1, the growth stocks outperform the other investments substantially, the investor may decide to sell some growth stocks or purchase more income stocks and bonds to bring the portfolio back to a 50-25-25 split.</p>\n<p>KEY TAKEAWAYS</p>\n<ul>\n <li>The end of the three-month period known as a financial quarter is considered an important time for investors.</li>\n <li>Companies, financial analysts, and government agencies (including the Fed) all release reports and critical data at the end of a quarter.</li>\n <li>Both retail and institutional investors often use the end of a quarter to re-evaluate and rebalance their portfolios.</li>\n</ul>\n<p>Traditional rebalancing involves trading the gains of well-performing assets, by selling high, for more low-performing assets, by buying low, at the end of each quarter. Theoretically, this serves to protect a portfolio from being too exposed or straying too far from its original strategy. However, pegging rebalances to the end of quarters relies on arbitrary calendar events which may not coincide with market movements. Nevertheless, the confluence of new reports that emerge at the end of quarters usually causes market reactions and should be of concern to most participants.</p>\n<p>Institutional Investors and Rebalancing</p>\n<p>It is not just individual investors who consider making portfolio moves at the end of quarters. Portfolio management is also important for institutional investors, like mutual funds and exchange-traded funds, or ETFs.3</p>\n<p>There are two forms of fund portfolio management: active and passive.4Passive funds generally peg their portfolios to market indexes and involve fewer changes in exchange for lower management fees. The end of a quarter is less significant for these types of funds, though if theirbenchmark indexeschange at this time, they will as well.</p>\n<p>Active funds have a manager or team of managers who take a more proactive approach to beat market average returns. These funds can be quite active during the end of quarters, especially if their portfolios need to be adjusted to meet their previously stated goals and strategies.</p>","source":"lsy1606203311635","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>What Does the End of the Quarter Mean for Portfolio Management?</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\">\nWhat Does the End of the Quarter Mean for Portfolio Management?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-05 19:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investopedia.com/ask/answers/122214/what-does-end-quarter-mean-portfolio-management.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral><strong>investopedia</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the financial calendar. Thefour quartersend in March, or Q1; June, or Q2; September, or Q3; and ...</p>\n\n<a href=\"https://www.investopedia.com/ask/answers/122214/what-does-end-quarter-mean-portfolio-management.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investopedia.com/ask/answers/122214/what-does-end-quarter-mean-portfolio-management.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155435134","content_text":"The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the financial calendar. Thefour quartersend in March, or Q1; June, or Q2; September, or Q3; and December, or Q4. These are considered important times for investors. Many businesses, analysts, government agencies, and theFederal Reserverelease critical new data about various markets or economic indicators at the end of a quarter.\nThere's a widely held belief in financial circles that hedge funds, pension funds, and insurance companies always rebalance their portfolios at the end of each quarter. While no proof or evidence has ever been put forward to confirm this practice or its prevalence, the very idea reinforces the concept that the end of a quarter is significant.\nEven if major financial players do not always rebalance at the end of quarters, many investors use this time to re-evaluate their ownportfolio management, changing which assets comprise the portfolio or setting new portfolio targets. Not only is it a good idea for investors to monitor their investments from time-to-time but rarely is so much new, actionable information released as during the end of a quarter.\nRebalancing a Portfolio\nRebalancinginvolves the periodic sale and purchase of assets within a portfolio to maintain a target ratio.2Consider an investor who wants his portfolio to be comprised of 50% growth stocks, 25% income stocks, and 25% bonds. If during Q1, the growth stocks outperform the other investments substantially, the investor may decide to sell some growth stocks or purchase more income stocks and bonds to bring the portfolio back to a 50-25-25 split.\nKEY TAKEAWAYS\n\nThe end of the three-month period known as a financial quarter is considered an important time for investors.\nCompanies, financial analysts, and government agencies (including the Fed) all release reports and critical data at the end of a quarter.\nBoth retail and institutional investors often use the end of a quarter to re-evaluate and rebalance their portfolios.\n\nTraditional rebalancing involves trading the gains of well-performing assets, by selling high, for more low-performing assets, by buying low, at the end of each quarter. Theoretically, this serves to protect a portfolio from being too exposed or straying too far from its original strategy. However, pegging rebalances to the end of quarters relies on arbitrary calendar events which may not coincide with market movements. Nevertheless, the confluence of new reports that emerge at the end of quarters usually causes market reactions and should be of concern to most participants.\nInstitutional Investors and Rebalancing\nIt is not just individual investors who consider making portfolio moves at the end of quarters. Portfolio management is also important for institutional investors, like mutual funds and exchange-traded funds, or ETFs.3\nThere are two forms of fund portfolio management: active and passive.4Passive funds generally peg their portfolios to market indexes and involve fewer changes in exchange for lower management fees. The end of a quarter is less significant for these types of funds, though if theirbenchmark indexeschange at this time, they will as well.\nActive funds have a manager or team of managers who take a more proactive approach to beat market average returns. These funds can be quite active during the end of quarters, especially if their portfolios need to be adjusted to meet their previously stated goals and strategies.","news_type":1},"isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151384167,"gmtCreate":1625064058959,"gmtModify":1631890282626,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151384167","repostId":"1155548924","repostType":4,"repost":{"id":"1155548924","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":1625063251,"share":"https://www.laohu8.com/m/news/1155548924?lang=&edition=full","pubTime":"2021-06-30 22:27","market":"us","language":"en","title":"EV stocks surged in Wednesday morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1155548924","media":"Tiger Newspress","summary":"EV stocks surged in Wednesday morning trading.Nio, Li Auto&nbsp;and Tesla&nbsp;climbed between 0.7% and 5.6%.&nbsp;While&nbsp;Xpeng Motors&nbsp;fell&nbsp;0.7%.","content":"<p>EV stocks surged in Wednesday morning trading.Nio, Li Auto&nbsp;and Tesla&nbsp;climbed between 0.7% and 5.6%.&nbsp;While&nbsp;Xpeng Motors&nbsp;fell&nbsp;0.7%.</p>\n<p><img src=\"https://static.tigerbbs.com/5b3cdf9487d32d5f8f934cea51ae1ab2\" tg-width=\"375\" tg-height=\"352\"></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>EV stocks surged in Wednesday morning trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV stocks surged in Wednesday morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-30 22:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>EV stocks surged in Wednesday morning trading.Nio, Li Auto&nbsp;and Tesla&nbsp;climbed between 0.7% and 5.6%.&nbsp;While&nbsp;Xpeng Motors&nbsp;fell&nbsp;0.7%.</p>\n<p><img src=\"https://static.tigerbbs.com/5b3cdf9487d32d5f8f934cea51ae1ab2\" tg-width=\"375\" tg-height=\"352\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","XPEV":"小鹏汽车","NIO":"蔚来","LI":"理想汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155548924","content_text":"EV stocks surged in Wednesday morning trading.Nio, Li Auto and Tesla climbed between 0.7% and 5.6%. While Xpeng Motors fell 0.7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809246453,"gmtCreate":1627374785872,"gmtModify":1631890282601,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809246453","repostId":"1140105060","repostType":4,"repost":{"id":"1140105060","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":1627374061,"share":"https://www.laohu8.com/m/news/1140105060?lang=&edition=full","pubTime":"2021-07-27 16:21","market":"us","language":"en","title":"Crypto Stocks tumbled in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1140105060","media":"Tiger Newspress","summary":"Crypto Stocks tumbled in premarket trading on Amazon denimg report of accepting bitcoin as payment.B","content":"<p>Crypto Stocks tumbled in premarket trading&nbsp;on&nbsp;Amazon denimg report of accepting bitcoin as payment.Bit Digital,The9,SOS Ltd,Canaan,Ebang&nbsp;international,Marathon Digital Holdings,Riot Blockchain,Coinbase Global&nbsp;and&nbsp;Square&nbsp;plunged between 1% and 19%.</p>\n<p><img src=\"https://static.tigerbbs.com/e53c1ef7ac57d4219f6590506a3f3800\" tg-width=\"352\" tg-height=\"546\" width=\"100%\" height=\"auto\"></p>\n<p>Bitcoin fell after briefly rallying past $40,000, as&nbsp;Amazon.com Inc.&nbsp;pushed back against speculation it will accept the token for payments this year, offering investors another reminder of the coin’s volatility.</p>\n<p>The largest digital currency dropped as much as 3.5% and was trading at about $37,100 as of 1:44 p.m. in Hong Kong, extending a late reversal in U.S. trading. Rival coins including Ether and Litecoin also retreated.</p>\n<p>Bitcoin’s latest roller-coaster ride accelerated Monday as traders digested an Amazon executive&nbsp;job posting&nbsp;linked to crypto, sending prices soaring. The rally quickly ran out of steam hours later, after a company spokesperson denied the token will be accepted for payments this year.</p>\n<p>Investors rushing to cover bearish bets helped propel Bitcoin’s earlier advance to a peak of $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data&nbsp;from Bybt.com.</p>\n<p>“Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,” said Vijay Ayyar, head of crypto exchange Luno’s Asia Pacific business. “But then there was heavy accumulation in the $29,000 to $30,000 region, which caught a lot of those shorts unaware and hence led to the spring upwards.”</p>\n<p>Bitcoin’s price volatility is part of a wider, multi-wave correction since a record high was reached in April, Ayyar said. The price could rebound as high as $45,000 in the near term before another potential drop, he said.</p>\n<p>“We’re still seeing the correction play out,” he added.</p>\n<p>The latest gyrations came amid concerns about a chill in the crypto industry after Bitcoin’s hot run to a record of almost $65,000 &nbsp;faded amid rising regulatory and environmental concerns. There are plenty of factors traders can point to for this week’s moves, as proponents look for the next catalyst to break the coin out of its tight trading range of $30,000 to $40,000 in recent months.</p>\n<p>“Bitcoin‘s biggest risk this week could be a hawkish surprise from the Fed, which might explain why prices have not yet been able to clear the psychological $40,000 level,” said Edward Moya, senior market analyst with Oanda Corp. The Federal Reserve will announce its next rate decision Wednesday.</p>\n<p>Bloomberg News earlier&nbsp;reported a U.S. probe&nbsp;into Tether is homing in on whether executives behind the token committed bank fraud.</p>\n<p><img src=\"https://static.tigerbbs.com/a9b821fcdf8396e5d3fdc1f9e3ead006\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Ether was down as much as 5%, reversing Monday’s earlier advance ahead of an&nbsp;upgrade&nbsp;due on Aug. 4 that will reduce the amount of outstanding tokens by destroying some of them every time it’s used to fuel transactions on the world’s most-used blockchain.</p>\n<p>On Binance, the largest crypto exchange, Bitcoin perpetual contracts jumped as much as 30% over an hour in early New York trading, a sign of extreme volatility in one of the coin’s most liquid derivatives.</p>\n<p>Sentiment also got a bit of a boost last week after Tesla Inc.’s Elon Musk said his firm was likely to eventually&nbsp;accept&nbsp;Bitcoin again and that his space exploration company SpaceX owns the digital token. Bitcoin bounced back above the 50-day moving average for the first time since May on the weekend.</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>Crypto Stocks tumbled in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto Stocks tumbled in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-27 16:21</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Crypto Stocks tumbled in premarket trading&nbsp;on&nbsp;Amazon denimg report of accepting bitcoin as payment.Bit Digital,The9,SOS Ltd,Canaan,Ebang&nbsp;international,Marathon Digital Holdings,Riot Blockchain,Coinbase Global&nbsp;and&nbsp;Square&nbsp;plunged between 1% and 19%.</p>\n<p><img src=\"https://static.tigerbbs.com/e53c1ef7ac57d4219f6590506a3f3800\" tg-width=\"352\" tg-height=\"546\" width=\"100%\" height=\"auto\"></p>\n<p>Bitcoin fell after briefly rallying past $40,000, as&nbsp;Amazon.com Inc.&nbsp;pushed back against speculation it will accept the token for payments this year, offering investors another reminder of the coin’s volatility.</p>\n<p>The largest digital currency dropped as much as 3.5% and was trading at about $37,100 as of 1:44 p.m. in Hong Kong, extending a late reversal in U.S. trading. Rival coins including Ether and Litecoin also retreated.</p>\n<p>Bitcoin’s latest roller-coaster ride accelerated Monday as traders digested an Amazon executive&nbsp;job posting&nbsp;linked to crypto, sending prices soaring. The rally quickly ran out of steam hours later, after a company spokesperson denied the token will be accepted for payments this year.</p>\n<p>Investors rushing to cover bearish bets helped propel Bitcoin’s earlier advance to a peak of $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data&nbsp;from Bybt.com.</p>\n<p>“Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,” said Vijay Ayyar, head of crypto exchange Luno’s Asia Pacific business. “But then there was heavy accumulation in the $29,000 to $30,000 region, which caught a lot of those shorts unaware and hence led to the spring upwards.”</p>\n<p>Bitcoin’s price volatility is part of a wider, multi-wave correction since a record high was reached in April, Ayyar said. The price could rebound as high as $45,000 in the near term before another potential drop, he said.</p>\n<p>“We’re still seeing the correction play out,” he added.</p>\n<p>The latest gyrations came amid concerns about a chill in the crypto industry after Bitcoin’s hot run to a record of almost $65,000 &nbsp;faded amid rising regulatory and environmental concerns. There are plenty of factors traders can point to for this week’s moves, as proponents look for the next catalyst to break the coin out of its tight trading range of $30,000 to $40,000 in recent months.</p>\n<p>“Bitcoin‘s biggest risk this week could be a hawkish surprise from the Fed, which might explain why prices have not yet been able to clear the psychological $40,000 level,” said Edward Moya, senior market analyst with Oanda Corp. The Federal Reserve will announce its next rate decision Wednesday.</p>\n<p>Bloomberg News earlier&nbsp;reported a U.S. probe&nbsp;into Tether is homing in on whether executives behind the token committed bank fraud.</p>\n<p><img src=\"https://static.tigerbbs.com/a9b821fcdf8396e5d3fdc1f9e3ead006\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Ether was down as much as 5%, reversing Monday’s earlier advance ahead of an&nbsp;upgrade&nbsp;due on Aug. 4 that will reduce the amount of outstanding tokens by destroying some of them every time it’s used to fuel transactions on the world’s most-used blockchain.</p>\n<p>On Binance, the largest crypto exchange, Bitcoin perpetual contracts jumped as much as 30% over an hour in early New York trading, a sign of extreme volatility in one of the coin’s most liquid derivatives.</p>\n<p>Sentiment also got a bit of a boost last week after Tesla Inc.’s Elon Musk said his firm was likely to eventually&nbsp;accept&nbsp;Bitcoin again and that his space exploration company SpaceX owns the digital token. Bitcoin bounced back above the 50-day moving average for the first time since May on the weekend.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOS":"SOS Limited","NCTY":"第九城市","COIN":"Coinbase Global, Inc.","SQ":"Block","BTBT":"Bit Digital, Inc.","EBON":"亿邦国际","RIOT":"Riot Platforms","CAN":"嘉楠科技","MARA":"Marathon Digital Holdings Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140105060","content_text":"Crypto Stocks tumbled in premarket trading on Amazon denimg report of accepting bitcoin as payment.Bit Digital,The9,SOS Ltd,Canaan,Ebang international,Marathon Digital Holdings,Riot Blockchain,Coinbase Global and Square plunged between 1% and 19%.\n\nBitcoin fell after briefly rallying past $40,000, as Amazon.com Inc. pushed back against speculation it will accept the token for payments this year, offering investors another reminder of the coin’s volatility.\nThe largest digital currency dropped as much as 3.5% and was trading at about $37,100 as of 1:44 p.m. in Hong Kong, extending a late reversal in U.S. trading. Rival coins including Ether and Litecoin also retreated.\nBitcoin’s latest roller-coaster ride accelerated Monday as traders digested an Amazon executive job posting linked to crypto, sending prices soaring. The rally quickly ran out of steam hours later, after a company spokesperson denied the token will be accepted for payments this year.\nInvestors rushing to cover bearish bets helped propel Bitcoin’s earlier advance to a peak of $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data from Bybt.com.\n“Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,” said Vijay Ayyar, head of crypto exchange Luno’s Asia Pacific business. “But then there was heavy accumulation in the $29,000 to $30,000 region, which caught a lot of those shorts unaware and hence led to the spring upwards.”\nBitcoin’s price volatility is part of a wider, multi-wave correction since a record high was reached in April, Ayyar said. The price could rebound as high as $45,000 in the near term before another potential drop, he said.\n“We’re still seeing the correction play out,” he added.\nThe latest gyrations came amid concerns about a chill in the crypto industry after Bitcoin’s hot run to a record of almost $65,000  faded amid rising regulatory and environmental concerns. There are plenty of factors traders can point to for this week’s moves, as proponents look for the next catalyst to break the coin out of its tight trading range of $30,000 to $40,000 in recent months.\n“Bitcoin‘s biggest risk this week could be a hawkish surprise from the Fed, which might explain why prices have not yet been able to clear the psychological $40,000 level,” said Edward Moya, senior market analyst with Oanda Corp. The Federal Reserve will announce its next rate decision Wednesday.\nBloomberg News earlier reported a U.S. probe into Tether is homing in on whether executives behind the token committed bank fraud.\n\nEther was down as much as 5%, reversing Monday’s earlier advance ahead of an upgrade due on Aug. 4 that will reduce the amount of outstanding tokens by destroying some of them every time it’s used to fuel transactions on the world’s most-used blockchain.\nOn Binance, the largest crypto exchange, Bitcoin perpetual contracts jumped as much as 30% over an hour in early New York trading, a sign of extreme volatility in one of the coin’s most liquid derivatives.\nSentiment also got a bit of a boost last week after Tesla Inc.’s Elon Musk said his firm was likely to eventually accept Bitcoin again and that his space exploration company SpaceX owns the digital token. Bitcoin bounced back above the 50-day moving average for the first time since May on the weekend.","news_type":1},"isVote":1,"tweetType":1,"viewCount":454,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142758872,"gmtCreate":1626179586396,"gmtModify":1631890282608,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"What","listText":"What","text":"What","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142758872","repostId":"2151276565","repostType":4,"repost":{"id":"2151276565","pubTimestamp":1626176400,"share":"https://www.laohu8.com/m/news/2151276565?lang=&edition=full","pubTime":"2021-07-13 19:40","market":"us","language":"en","title":"Owens Corning Announces Acquisition of vliepa GmbH","url":"https://stock-news.laohu8.com/highlight/detail?id=2151276565","media":"Business Wire","summary":"Combination expands company’s global nonwovens portfolio to accelerate growth and strengthen offerin","content":"<p><b><i>Combination expands company’s global nonwovens portfolio to accelerate growth and strengthen offerings to European building and construction markets</i></b></p>\n<p><b>TOLEDO, Ohio, July 13, 2021</b>--(BUSINESS WIRE)--Owens Corning (NYSE: OC) announced today that it has acquired vliepa GmbH, which specializes in the coating, printing and finishing of nonwovens, paper and film for the building materials industry. The acquisition broadens Owens Corning’s significant global nonwovens portfolio to better serve European customers and accelerate growth of building and construction market applications in the region.</p>\n<p>\"This highly complementary combination advances our global strategy of expanding deeper into the value chain and investing in high-growth markets,\" said Marcio Sandri, President of Owens Corning’s Composites business. \"The acquisition adds immediate coating capacity for our customers in the building materials industry, along with supporting the transformation of the construction market from traditional materials to innovative, glass-faced solutions.\"</p>\n<p>With this transaction, Owens Corning has taken ownership of two production facilities in Brüggen, Germany. Terms of the transaction were not released.</p>\n<p>\"I am very excited about our new opportunities with Owens Corning,\" said Eric Schillings, Managing Partner of vliepa GmbH. \"Leveraging their broad enterprise capabilities and market-leading positions, Owens Corning will help us expand in our markets and accelerate our growth. I am confident that vliepa will have a bright future in the new organization.\"</p>\n<p>The acquisition reinforces Owens Corning’s commitment to its global nonwovens business, which delivers differentiated solutions.</p>\n<p>\"We believe vliepa‘s technology and capabilities are an ideal complement to our nonwoven solutions, manufacturing capacity, and commercial relationships,\" added Sandri. \"Our combined organization will address several key macrotrends, including sustainability, lightweight building materials, and more labor-efficient construction solutions, by delivering enhanced performance in a variety of applications, including Polyiso (polyisocyanurate) insulation and gypsum boards.\"</p>\n<p>In total, vliepa GmbH employs about 70 people and delivered 2020 sales of approximately $30 million.</p>\n<p><b>About Owens Corning</b></p>\n<p>Owens Corning is a global building and industrial materials leader. The company’s three integrated businesses are dedicated to the manufacture and advancement of a broad range of insulation, roofing and fiberglass composite materials. Leveraging the talents of 19,000 employees in 33 countries, Owens Corning provides innovative products and sustainable solutions that address energy efficiency, product safety, renewable energy, durable infrastructure, and labor productivity. These solutions provide a material difference to the company’s customers and make the world a better place. Based in Toledo, Ohio, USA, the company posted 2020 sales of $7.1 billion. Founded in 1938, it has been a Fortune 500® company for 67 consecutive years. For more information, please visit www.owenscorning.com.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Owens Corning Announces Acquisition of vliepa GmbH</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\">\nOwens Corning Announces Acquisition of vliepa GmbH\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 19:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/owens-corning-announces-acquisition-vliepa-113000958.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Combination expands company’s global nonwovens portfolio to accelerate growth and strengthen offerings to European building and construction markets\nTOLEDO, Ohio, July 13, 2021--(BUSINESS WIRE)--Owens...</p>\n\n<a href=\"https://finance.yahoo.com/news/owens-corning-announces-acquisition-vliepa-113000958.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GLW":"康宁","OC":"欧文斯科宁"},"source_url":"https://finance.yahoo.com/news/owens-corning-announces-acquisition-vliepa-113000958.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2151276565","content_text":"Combination expands company’s global nonwovens portfolio to accelerate growth and strengthen offerings to European building and construction markets\nTOLEDO, Ohio, July 13, 2021--(BUSINESS WIRE)--Owens Corning (NYSE: OC) announced today that it has acquired vliepa GmbH, which specializes in the coating, printing and finishing of nonwovens, paper and film for the building materials industry. The acquisition broadens Owens Corning’s significant global nonwovens portfolio to better serve European customers and accelerate growth of building and construction market applications in the region.\n\"This highly complementary combination advances our global strategy of expanding deeper into the value chain and investing in high-growth markets,\" said Marcio Sandri, President of Owens Corning’s Composites business. \"The acquisition adds immediate coating capacity for our customers in the building materials industry, along with supporting the transformation of the construction market from traditional materials to innovative, glass-faced solutions.\"\nWith this transaction, Owens Corning has taken ownership of two production facilities in Brüggen, Germany. Terms of the transaction were not released.\n\"I am very excited about our new opportunities with Owens Corning,\" said Eric Schillings, Managing Partner of vliepa GmbH. \"Leveraging their broad enterprise capabilities and market-leading positions, Owens Corning will help us expand in our markets and accelerate our growth. I am confident that vliepa will have a bright future in the new organization.\"\nThe acquisition reinforces Owens Corning’s commitment to its global nonwovens business, which delivers differentiated solutions.\n\"We believe vliepa‘s technology and capabilities are an ideal complement to our nonwoven solutions, manufacturing capacity, and commercial relationships,\" added Sandri. \"Our combined organization will address several key macrotrends, including sustainability, lightweight building materials, and more labor-efficient construction solutions, by delivering enhanced performance in a variety of applications, including Polyiso (polyisocyanurate) insulation and gypsum boards.\"\nIn total, vliepa GmbH employs about 70 people and delivered 2020 sales of approximately $30 million.\nAbout Owens Corning\nOwens Corning is a global building and industrial materials leader. The company’s three integrated businesses are dedicated to the manufacture and advancement of a broad range of insulation, roofing and fiberglass composite materials. Leveraging the talents of 19,000 employees in 33 countries, Owens Corning provides innovative products and sustainable solutions that address energy efficiency, product safety, renewable energy, durable infrastructure, and labor productivity. These solutions provide a material difference to the company’s customers and make the world a better place. Based in Toledo, Ohio, USA, the company posted 2020 sales of $7.1 billion. Founded in 1938, it has been a Fortune 500® company for 67 consecutive years. For more information, please visit www.owenscorning.com.","news_type":1},"isVote":1,"tweetType":1,"viewCount":294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148671693,"gmtCreate":1625974810612,"gmtModify":1631890282610,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148671693","repostId":"1135090843","repostType":4,"repost":{"id":"1135090843","pubTimestamp":1625970902,"share":"https://www.laohu8.com/m/news/1135090843?lang=&edition=full","pubTime":"2021-07-11 10:35","market":"us","language":"en","title":"7 Earnings Reports to Watch Next Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1135090843","media":"InvestorPlace","summary":"Earnings reports will provide insight into how these companies are performing\nSource: Shutterstock\nT","content":"<p>Earnings reports will provide insight into how these companies are performing</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d277b8ff1b6b6711ba0749313119f04\" tg-width=\"1024\" tg-height=\"576\"><span>Source: Shutterstock</span></p>\n<p>The major U.S. banks are due to report their latest earnings the week of July 12, and the results can be expected to dominate the financial news cycle. The earnings will provide insights into the health and momentum of the economy as they provide a read on both business and consumer spending. With the economy sprinting coming out of the Covid-19 pandemic, the big commercial and investment banks are expected toreport strong results.</p>\n<p>The banks are also expected to begin rewarding shareholders after the U.S. Federal Reserve recently cleared them to again payout dividends and buyback their own stock. Wall Street estimates forecast that the six biggest U.S. banks could&nbsp;return more than $140 billion&nbsp;to shareholders in coming months through dividends and share buybacks.</p>\n<p>Here are seven of the biggest American banks with earnings reports next week:</p>\n<ul>\n <li><b>JPMorgan Chase</b>(NYSE:<b><u>JPM</u></b>)</li>\n <li><b>Goldman Sachs</b>(NYSE:<b><u>GS</u></b>)</li>\n <li><b>Bank of America</b>(NYSE:<b><u>BAC</u></b>)</li>\n <li><b>Citigroup</b>(NYSE:<b><u>C</u></b>)</li>\n <li><b>Wells Fargo</b>(NYSE:<b><u>WFC</u></b>)</li>\n <li><b>Morgan Stanley</b>(NYSE:<b><u>MS</u></b>)</li>\n <li><b>U.S. Bancorp</b>(NYSE:<b><u>USB</u></b>)</li>\n</ul>\n<p><b>JPMorgan Chase (JPM)</b></p>\n<p>First out of the gate next week is the biggest U.S. bank, JPMorgan Chase. The financial conglomerate led by Jamie Dimon has generated headlines for its spate of recent acquisitions. The bank has&nbsp;made 33 acquisitions&nbsp;so far this year, its biggest spending spree in several years. The deals have mostly involved small foreign money managers and digital banks in countries such as England and Brazil.</p>\n<p>JPMorgan Chase has said that it is pursuing acquisitions to contend with an ongoing low-interest-rate environment and greater competition from financial technology (fintech) companies.</p>\n<p>The deals completed in the first half of this year are on par with all the deals JPMorgan Chase completed last year. JPM stock has risen this year along with the entire bank sector. Year-to-date, JPM stock is up 22% to a July 9 open of $153.05. In the past 12 months, the stock has increased 66%. In this year’s first quarter, JPMorgan Chase’s earnings increased 477% to $4.50 per share diluted and beat analyst estimates of $3.06 a share. Earnings were given a significant boost by $5.2 billion of net reserves that the bank had built up in 2020 during the pandemic.</p>\n<p>For the&nbsp;second-quarter results&nbsp;to be released on July 13, analysts are forecasting revenue of $30 billion and earnings per share (EPS) of $3.03.</p>\n<p><b>Goldman Sachs (GS)</b></p>\n<p>Leading investment bank Goldman Sachs also reports&nbsp;second-quarter results&nbsp;on July 13, and expectations are high for blockbuster earnings. The venerable Wall Street firm set the bar high earlier this year when it reported record first quarter results that blew away expectations. Fueled by a record amount of investment banking activity, Goldman Sachs reported first quarter revenues of $17.7 billion, way ahead of the $12.6 billion forecast by analysts. EPS for the bank came in at $18.60, destroying the $10.22 estimated by analysts and 498% higher than in the first quarter of 2020.</p>\n<p>Can Goldman do it again with its second-quarter results? The&nbsp;consensus among analysts&nbsp;is for the investment bank to report second-quarter EPS of $9.52 a share, for year-over-year growth of 52%. Should Goldman Sachs beat expectations by a wide margin, it will likely propel the company’s share price to new heights. In this year’s first half, GS stock rose 40% to its July 9 opening price of $366. In the past year, the stock has gained 77%.</p>\n<p>Despite the big run in the bank’s share price, analysts see further gains in store. The&nbsp;median price target&nbsp;on GS stock is $415, implying another 13% gain in coming months.</p>\n<p><b>Bank of America (BAC)</b></p>\n<p>The second-largest U.S. bank by assets, Bank of America, reports its&nbsp;latest quarterly numbers&nbsp;on July 14. And the lender has been signaling that Wall Street should expect solid second-quarter results. Chief Executive Officer Brian Moynihan has been saying publicly that Bank of America is emerging from the pandemic a stronger and more competitive financial institution, helped by higher capital ratios and higher reserves. In the first quarter, the bank reported record levels of deposits, investment flows and investment banking revenues.</p>\n<p>Bank of America attracted the attention of investors when it announced on June 28 that it will increase its common stock&nbsp;dividend by 17%&nbsp;to 21 cents per share for the third quarter of this year. This came after the bank announced a $25 billion share buyback plan in April. For the second quarter, Bank of America is&nbsp;expected to report&nbsp;EPS of 77 cents, more than doubling Q2 2020’s $0.37.</p>\n<p>In this year’s first quarter, Bank of America posted EPS of 86 cents, up 115% year-over-year and above the consensus forecast of 66 cents. First quarter revenues were up a slight 0.2% to $22.8 billion, beating analysts’ estimates of $22.13 billion. BAC stock has climbed 32% higher year-to-date to $39.65 a share as of July 9. In the past 12 months, the share price has increased 73%. While the stock&nbsp;pulled back in the middle of June, next week’s earnings could spark the next leg higher.</p>\n<p><b>Citigroup (C)</b></p>\n<p>On July 14, we’ll also get earnings from Citigroup. And the latest results come at a time when C stock has been struggling and, at its July 9 level of $66.73 a share, is starting to look a little undervalued compared to its peers.</p>\n<p>Citigroup’s share price is up 11% year-to-date and has risen 34% over the last 52 weeks. Those are decent returns, but they trail the other big banks featured in this article. In the past month, Citigroup’s share price has slumped 14%. The&nbsp;June drop&nbsp;came after the bank warned that its trading revenue will likely decline by 30% this year on weak deal volumes.</p>\n<p>Despite the downward guidance, analysts still expect Citigroup to report earnings growth for the second quarter of this year. The bank is forecast to post EPS of $1.91 next week, which would be a year-over-year increase of nearly 300%. However, revenues are expected to come in at $17.35 billion, which would be about 10% lower than the second quarter of 2020 revenue of $19.77 billion. Many analysts revised down their revenue forecasts after Citigroup warned of rising costs. Chief Financial Officer Mark Mason said on June 16 that he expects&nbsp;second-quarter expenses&nbsp;to increase by as much as $11.6 billion.</p>\n<p><b>Wells Fargo (WFC)</b></p>\n<p>San Francisco-based Wells Fargo, which reports earnings on July 14, recently dominated headlines after it announced that it is closing out all of its existing&nbsp;personal lines of credit&nbsp;and will no longer offer the financial product. Lines of credit typically give retail customers loans of $3,000 to $100,000 and is often used to consolidate higher-interest credit card debt, pay for home renovations and fund college educations.</p>\n<p>The news came as a jolt to Wells Fargo customers, who were informed by the bank that the credit line closures “may have an impact on your credit score.”</p>\n<p>Eliminating the lines of credit is the latest move by Wells Fargo as it reviews its operations coming out the pandemic. The steps taken to date seem to be winning approval from investors. WFC stock is one of the best performing among banks this year. So far this year, Wells Fargo stock has gained 44% and now trades at $43.18. The share price is up 77% over the last year.For its second quarter, analysts expect Wells Fargo to report EPS of 93 cents on $17.78 billion in revenues.</p>\n<p><b>Morgan Stanley (MS)</b></p>\n<p>Investment bank Morgan Stanley won praise from investors a few weeks back after it became the first Wall Street firm to increase its dividend payout after passing the U.S. Federal Reserve’s latest stress test. A day after getting the all clear from the central bank, Morgan Stanley announced that it is&nbsp;doubling its quarterly dividend&nbsp;to 70 cents per share starting in this year’s third quarter and spending $12 billion to buy back its own stock. The share repurchase program will run for the next four quarters.</p>\n<p>The positive news for shareholders helped to extend a rally in MS stock, which is now up 31% year-to-date at $87.40 a share, and up 79% over the past 12 months. Similar to rival investment bank Goldman Sachs, Morgan Stanley’s first quarter revenue toppled analyst expectations. For the&nbsp;first three months&nbsp;of this year, Morgan Stanley reported EPS of $2.22 a share, a substantial improvement over projections of $1.70. And the company’s revenue increased 61% in the first quarter to a record $15.7 billion, beating analysts’ estimates by $1.6 billion.</p>\n<p>For the second quarter&nbsp;reporting on July 15, analysts forecast that Morgan Stanley will report EPS of $1.65 on revenue of $13.96 billion.</p>\n<p><b>U.S. Bancorp (USB)</b></p>\n<p>Probably the least-known bank on this list is Minneapolis, Minnesota-based U.S. Bancorp. While it primarily operates in the Midwest, U.S. Bancorp is currently the fifth-largest American bank with assets approaching $500 billion. Often referred to as a“super regional bank”because of its size and performance, the lender is a&nbsp;long-term holding&nbsp;of legendary investor Warren Buffett’s&nbsp;<b>Berkshire Hathaway</b>(NYSE:<b><u>BRK.B</u></b>) holding company. Buffett currently has more than $8 billion invested in USB stock.</p>\n<p>Year-to-date, USB stock is up 22%, opening July 9 at $56.08 a share. In the past 12 months, the share price has climbed 60% higher. However, like the rest of the banking sector, U.S. Bancorp’s stock pulled back over the past month, dipping 6% on worries that inflation is abating and interest rates may remain at historic lows over the medium-term.</p>\n<p>As for its earnings on July 15, analysts expect the lender to&nbsp;report EPS of $1.12&nbsp;for the second quarter on revenues of $5.63 billion. In&nbsp;this year’s first quarter, U.S. Bancorp reported EPS of $1.45, beating consensus estimates of 96 cents. First quarter revenue came in at $5.47 billion compared to analysts’ expectations of $5.53 billion.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Earnings Reports to Watch Next Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n7 Earnings Reports to Watch Next Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-11 10:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/earnings-reports-to-watch-next-week/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Earnings reports will provide insight into how these companies are performing\nSource: Shutterstock\nThe major U.S. banks are due to report their latest earnings the week of July 12, and the results can...</p>\n\n<a href=\"https://investorplace.com/earnings-reports-to-watch-next-week/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","JPM":"摩根大通","WFC":"富国银行","C":"花旗","MS":"摩根士丹利","USB":"美国合众银行","GS":"高盛"},"source_url":"https://investorplace.com/earnings-reports-to-watch-next-week/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135090843","content_text":"Earnings reports will provide insight into how these companies are performing\nSource: Shutterstock\nThe major U.S. banks are due to report their latest earnings the week of July 12, and the results can be expected to dominate the financial news cycle. The earnings will provide insights into the health and momentum of the economy as they provide a read on both business and consumer spending. With the economy sprinting coming out of the Covid-19 pandemic, the big commercial and investment banks are expected toreport strong results.\nThe banks are also expected to begin rewarding shareholders after the U.S. Federal Reserve recently cleared them to again payout dividends and buyback their own stock. Wall Street estimates forecast that the six biggest U.S. banks could return more than $140 billion to shareholders in coming months through dividends and share buybacks.\nHere are seven of the biggest American banks with earnings reports next week:\n\nJPMorgan Chase(NYSE:JPM)\nGoldman Sachs(NYSE:GS)\nBank of America(NYSE:BAC)\nCitigroup(NYSE:C)\nWells Fargo(NYSE:WFC)\nMorgan Stanley(NYSE:MS)\nU.S. Bancorp(NYSE:USB)\n\nJPMorgan Chase (JPM)\nFirst out of the gate next week is the biggest U.S. bank, JPMorgan Chase. The financial conglomerate led by Jamie Dimon has generated headlines for its spate of recent acquisitions. The bank has made 33 acquisitions so far this year, its biggest spending spree in several years. The deals have mostly involved small foreign money managers and digital banks in countries such as England and Brazil.\nJPMorgan Chase has said that it is pursuing acquisitions to contend with an ongoing low-interest-rate environment and greater competition from financial technology (fintech) companies.\nThe deals completed in the first half of this year are on par with all the deals JPMorgan Chase completed last year. JPM stock has risen this year along with the entire bank sector. Year-to-date, JPM stock is up 22% to a July 9 open of $153.05. In the past 12 months, the stock has increased 66%. In this year’s first quarter, JPMorgan Chase’s earnings increased 477% to $4.50 per share diluted and beat analyst estimates of $3.06 a share. Earnings were given a significant boost by $5.2 billion of net reserves that the bank had built up in 2020 during the pandemic.\nFor the second-quarter results to be released on July 13, analysts are forecasting revenue of $30 billion and earnings per share (EPS) of $3.03.\nGoldman Sachs (GS)\nLeading investment bank Goldman Sachs also reports second-quarter results on July 13, and expectations are high for blockbuster earnings. The venerable Wall Street firm set the bar high earlier this year when it reported record first quarter results that blew away expectations. Fueled by a record amount of investment banking activity, Goldman Sachs reported first quarter revenues of $17.7 billion, way ahead of the $12.6 billion forecast by analysts. EPS for the bank came in at $18.60, destroying the $10.22 estimated by analysts and 498% higher than in the first quarter of 2020.\nCan Goldman do it again with its second-quarter results? The consensus among analysts is for the investment bank to report second-quarter EPS of $9.52 a share, for year-over-year growth of 52%. Should Goldman Sachs beat expectations by a wide margin, it will likely propel the company’s share price to new heights. In this year’s first half, GS stock rose 40% to its July 9 opening price of $366. In the past year, the stock has gained 77%.\nDespite the big run in the bank’s share price, analysts see further gains in store. The median price target on GS stock is $415, implying another 13% gain in coming months.\nBank of America (BAC)\nThe second-largest U.S. bank by assets, Bank of America, reports its latest quarterly numbers on July 14. And the lender has been signaling that Wall Street should expect solid second-quarter results. Chief Executive Officer Brian Moynihan has been saying publicly that Bank of America is emerging from the pandemic a stronger and more competitive financial institution, helped by higher capital ratios and higher reserves. In the first quarter, the bank reported record levels of deposits, investment flows and investment banking revenues.\nBank of America attracted the attention of investors when it announced on June 28 that it will increase its common stock dividend by 17% to 21 cents per share for the third quarter of this year. This came after the bank announced a $25 billion share buyback plan in April. For the second quarter, Bank of America is expected to report EPS of 77 cents, more than doubling Q2 2020’s $0.37.\nIn this year’s first quarter, Bank of America posted EPS of 86 cents, up 115% year-over-year and above the consensus forecast of 66 cents. First quarter revenues were up a slight 0.2% to $22.8 billion, beating analysts’ estimates of $22.13 billion. BAC stock has climbed 32% higher year-to-date to $39.65 a share as of July 9. In the past 12 months, the share price has increased 73%. While the stock pulled back in the middle of June, next week’s earnings could spark the next leg higher.\nCitigroup (C)\nOn July 14, we’ll also get earnings from Citigroup. And the latest results come at a time when C stock has been struggling and, at its July 9 level of $66.73 a share, is starting to look a little undervalued compared to its peers.\nCitigroup’s share price is up 11% year-to-date and has risen 34% over the last 52 weeks. Those are decent returns, but they trail the other big banks featured in this article. In the past month, Citigroup’s share price has slumped 14%. The June drop came after the bank warned that its trading revenue will likely decline by 30% this year on weak deal volumes.\nDespite the downward guidance, analysts still expect Citigroup to report earnings growth for the second quarter of this year. The bank is forecast to post EPS of $1.91 next week, which would be a year-over-year increase of nearly 300%. However, revenues are expected to come in at $17.35 billion, which would be about 10% lower than the second quarter of 2020 revenue of $19.77 billion. Many analysts revised down their revenue forecasts after Citigroup warned of rising costs. Chief Financial Officer Mark Mason said on June 16 that he expects second-quarter expenses to increase by as much as $11.6 billion.\nWells Fargo (WFC)\nSan Francisco-based Wells Fargo, which reports earnings on July 14, recently dominated headlines after it announced that it is closing out all of its existing personal lines of credit and will no longer offer the financial product. Lines of credit typically give retail customers loans of $3,000 to $100,000 and is often used to consolidate higher-interest credit card debt, pay for home renovations and fund college educations.\nThe news came as a jolt to Wells Fargo customers, who were informed by the bank that the credit line closures “may have an impact on your credit score.”\nEliminating the lines of credit is the latest move by Wells Fargo as it reviews its operations coming out the pandemic. The steps taken to date seem to be winning approval from investors. WFC stock is one of the best performing among banks this year. So far this year, Wells Fargo stock has gained 44% and now trades at $43.18. The share price is up 77% over the last year.For its second quarter, analysts expect Wells Fargo to report EPS of 93 cents on $17.78 billion in revenues.\nMorgan Stanley (MS)\nInvestment bank Morgan Stanley won praise from investors a few weeks back after it became the first Wall Street firm to increase its dividend payout after passing the U.S. Federal Reserve’s latest stress test. A day after getting the all clear from the central bank, Morgan Stanley announced that it is doubling its quarterly dividend to 70 cents per share starting in this year’s third quarter and spending $12 billion to buy back its own stock. The share repurchase program will run for the next four quarters.\nThe positive news for shareholders helped to extend a rally in MS stock, which is now up 31% year-to-date at $87.40 a share, and up 79% over the past 12 months. Similar to rival investment bank Goldman Sachs, Morgan Stanley’s first quarter revenue toppled analyst expectations. For the first three months of this year, Morgan Stanley reported EPS of $2.22 a share, a substantial improvement over projections of $1.70. And the company’s revenue increased 61% in the first quarter to a record $15.7 billion, beating analysts’ estimates by $1.6 billion.\nFor the second quarter reporting on July 15, analysts forecast that Morgan Stanley will report EPS of $1.65 on revenue of $13.96 billion.\nU.S. Bancorp (USB)\nProbably the least-known bank on this list is Minneapolis, Minnesota-based U.S. Bancorp. While it primarily operates in the Midwest, U.S. Bancorp is currently the fifth-largest American bank with assets approaching $500 billion. Often referred to as a“super regional bank”because of its size and performance, the lender is a long-term holding of legendary investor Warren Buffett’s Berkshire Hathaway(NYSE:BRK.B) holding company. Buffett currently has more than $8 billion invested in USB stock.\nYear-to-date, USB stock is up 22%, opening July 9 at $56.08 a share. In the past 12 months, the share price has climbed 60% higher. However, like the rest of the banking sector, U.S. Bancorp’s stock pulled back over the past month, dipping 6% on worries that inflation is abating and interest rates may remain at historic lows over the medium-term.\nAs for its earnings on July 15, analysts expect the lender to report EPS of $1.12 for the second quarter on revenues of $5.63 billion. In this year’s first quarter, U.S. Bancorp reported EPS of $1.45, beating consensus estimates of 96 cents. First quarter revenue came in at $5.47 billion compared to analysts’ expectations of $5.53 billion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141558400,"gmtCreate":1625882061600,"gmtModify":1631890282617,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141558400","repostId":"1173374462","repostType":4,"repost":{"id":"1173374462","pubTimestamp":1625840008,"share":"https://www.laohu8.com/m/news/1173374462?lang=&edition=full","pubTime":"2021-07-09 22:13","market":"us","language":"en","title":"Meme Stocks Like GameStop and AMC Reflect Market Reality","url":"https://stock-news.laohu8.com/highlight/detail?id=1173374462","media":"Thestreet","summary":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment","content":"<p>Gamestop&nbsp;(<b>GME</b>)&nbsp;made some investors rich… and then it broke many more. Investing in AMC Entertainment&nbsp;(<b>AMC</b>)&nbsp;did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.</p>\n<p>How?</p>\n<p>It’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?</p>\n<p>Have you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?</p>\n<p>\"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.</p>\n<p>\"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.</p>\n<p>\"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"</p>\n<p>Collins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"</p>\n<p>Assets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.</p>\n<p>That’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.</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 Like GameStop and AMC Reflect Market Reality</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 Like GameStop and AMC Reflect Market Reality\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 22:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality><strong>Thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment (AMC) did the exact same thing. These two stocks represent, if not failing businesses, at least ...</p>\n\n<a href=\"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","AMC":"AMC院线"},"source_url":"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173374462","content_text":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment (AMC) did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.\nHow?\nIt’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?\nHave you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?\n\"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.\n\"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.\n\"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"\nCollins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"\nAssets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.\nThat’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.","news_type":1},"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152338274,"gmtCreate":1625269397098,"gmtModify":1631890282624,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/152338274","repostId":"1165340887","repostType":4,"isVote":1,"tweetType":1,"viewCount":175,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809248943,"gmtCreate":1627374689882,"gmtModify":1631890282607,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809248943","repostId":"1142907091","repostType":4,"isVote":1,"tweetType":1,"viewCount":406,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141552350,"gmtCreate":1625882115070,"gmtModify":1631890282613,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141552350","repostId":"1145284684","repostType":4,"repost":{"id":"1145284684","pubTimestamp":1625878443,"share":"https://www.laohu8.com/m/news/1145284684?lang=&edition=full","pubTime":"2021-07-10 08:54","market":"us","language":"en","title":"Taiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1145284684","media":"seekingalpha","summary":"Summary\n\nTSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, man","content":"<p><b>Summary</b></p>\n<ul>\n <li>TSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, manufacturing 11,617 different products using 281 distinct technologies for 510 different customers.</li>\n <li>TSMC and fellow Taiwan foundry United Microelectronics Corporation are expected to benefit from a chip-supply crisis that is adversely impacting automakers.</li>\n <li>TSMC benefits from a gross margin nearly twice that of UMC.</li>\n <li>40% of revenues are from nodes &lt;14nm, below the smallest node of UMC.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d80e662ebb3b78dd0445ecc891cf8986\" tg-width=\"768\" tg-height=\"513\"><span>BING-JHEN HONG/iStock Editorial via Getty Images</span></p>\n<p>Taiwan Semiconductor Manufacturing Company Limited or TSMC (TSM), and United Microelectronics Corporation or UMC (UMC) are both headquartered in Taiwan and both manufacture semiconductors for companies on a contract basis. They both provide high quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry and are defined as pure-play foundries.</p>\n<p>While they have similarities, the two companies are vastly different with different business models. TSMC started as and has always been a leading-edge company, manufacturing chips at the smallest dimensions. UMC, on the other hand, Taiwan’s first semiconductor company, has chosen the 14nm node as the smallest dimension it will manufacture.</p>\n<p>To illustrate the differences in models, Chart 1 shows revenues for both companies based on technology node. The key difference is the &lt;14nm node, where TSMC generated 41.4% of its revenue compared to 0% for UMC.</p>\n<p>Chart 1 also shows that TSMC held $43 billion in revenues in 2020 versus $6 billion for UMC. Importantly, it shows also shows the financial dominance of TSMC, since UMC holds second place in the global foundry market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf3b088585f8a624c6665040756e940f\" tg-width=\"640\" tg-height=\"462\"><span>Chart 1</span></p>\n<p>Much of TSMC’s revenues are on the &lt;14nm node, which increased from 29.4% of revenues in 2019 to 41.4% in 2020. Since UMC’s smallest node is 28nm/14nm, UMC is investing heavily at that node, and its share of revenue increased from 11.3% in 2019 to 13.6% in 2020. In contrast, in 2020 TSMC’s share at the 28nm/14nm node decreased to 30.8% from 37.7% in 2019.</p>\n<p><b>Expanding Capacity</b></p>\n<p><b>Leading Edge Nodes</b></p>\n<p>TSMC generates about 1/3 of its revenues from the 28nm/14nm, and TSMC has 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent).</p>\n<p>In TSMC’sQ1 2021 earnings call, TSMC’s VP and CFO Wendell Huang noted:</p>\n<blockquote>\n “In order to meet the increasing demand for our advanced and specialty technologies in the next several years, we have decided to raise our full year 2021 CapEx to be around USD 30 billion. About 80% of the 2021 capital budget will be allocated for advanced process technologies, including 3-nanometer, 5-nanometer and 7-nanometer. About 10% will be spent for advanced packaging and mask making, and about 10% will be spent for specialty technologies.”\n</blockquote>\n<p>TSMC expects to invest about $100 billion through the next 3 years to increase capacity, to support the manufacturing and R&amp;D of leading-edge and specialty technologies. Its N5 is already in its second year of volume production, contributing around 20% of our wafer revenue in 2021. N4 risk production is targeted for second half this year and volume production in 2022.</p>\n<p>Among TSMC's facilities to go online in the next three to four years are the company's&nbsp;fab in Arizona&nbsp;as well as its first 2nm-capable fab in Taiwan. The company needs to build and equip its N5-capable fab in Arizona. The facility will cost around $12 billion, will have a capacity of 20,000 wafer starts per month (WSPM), and will come online in 2024.</p>\n<p><b>28nm Nodes</b></p>\n<p>The global semiconductor shortage is one of the catalysts prompting foundry manufacturers to build new fabs, particularly at the 28nm node, as many automobile chips are manufactured at that node. While I have devoted four Seeking Alpha articles on trying to pin down what devices are undersupplied and could only find microcontrollers, in this article, I will concede for the sake of argument, that it is not due to hoarding but inept manufacturing supply chains.</p>\n<p>As a result, governments are spending heavily on this industry to expand the total production capacity. These free handouts are a second catalyst for new 28nm node fab construction.</p>\n<p>A strong demand for wafers from the consumer electronics industry has led to increased shipments of UMC’s 28nm wafers, which saw 18% sequential revenue growth in the last reported quarter. In addition, UMC has been focused on production for the automotive industry as semiconductors for electric and self-driving cars are expected to be a major growth driver for the company. However, global automotive semiconductors are only a $40 billion market, compared to a global semiconductor market of $525 billion. That is growing as more semiconductors are used per vehicle each year and because EVs use more semiconductors than internal combustion vehicles.</p>\n<p>There is a supply-demand imbalance in mature nodes, as most of the capacity expansion has been in advanced nodes, but companies have not addressed the mature nodes. The technology node is central to the latest auto chip crisis, while at the same time Sony has moved its design of CMOS Integrated Sensors (\"CIS\") for smartphones to 28nm.</p>\n<p>On April 22, TSMC announced plans to build a chip fabrication facility in China is at the receiving end of opposition from critics. The plant is set to make semiconductors built on the mature 28nm process node. The Nanjing plant currently has an installed capacity of 20,000 wafers per month. An investment of $2.8 billion and expecting mass-production in 2023, the expansion will double capacity to 40,000 wafers per month.</p>\n<p>TSMC has global 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent). The new fab with a 20,000 wafer per month capacity represents just 2% of the company’s total capacity.</p>\n<p>UMC also expanded its production of 28nm (with a migration to 40nm) process at its Nanke 12-inch Fab 12A P6 plant in Taiwan. It currently has an 87,000 wafer per month capacity. The total investment in the capacity expansion plan is estimated to be approximately NT$100 billion. The P6 expansion is scheduled for production in the second quarter of 2023, and has a capacity of just 10,000 wafers per month.</p>\n<p>The P6 program is supported by a multi-year's product alignment between UMC and the involved customers that includes a loading protection mechanism that will ensure the P6 capacity is maintained at a healthy loading level.</p>\n<p>UMC has total 12 fabs in production with combined capacity close to 800,000 wafers per month (8-in equivalent).</p>\n<p><b>Price Per Wafer</b></p>\n<p>Chart 2 shows the gross profit by node for an IC device. It partially explains the rationale behind TSMC’s business model to move to advanced nodes, while also explaining why the company chose to leave its 28nm node undersupplied until recent external forces prompted it to build its China fab.</p>\n<p>Gross profits per 300-mm wafer are $2,835 for a 28nm node versus $8,695 for a 3nm node.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e241c85dd84eb71f54c3b11812e6599\" tg-width=\"640\" tg-height=\"462\"><span>Chart 2</span></p>\n<p>Chart 3 shows capex spend by node for ICs. Capex spend (building + equipment) at 28nm is $100,000 per wafer, which more than triples to $320,000 at 3nm.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1f8f60218f2b914e5847e2eef8aa39c3\" tg-width=\"640\" tg-height=\"462\"><span>Chart 3</span></p>\n<p><b>Customer Base</b></p>\n<p>Chart 4 shows that Apple (AAPL) was the largest customer of TSMC in 2020, representing 21% of revenues. Keep in mind that in addition to TSMC’s processors going into iPhones, TSMC also fabricates the M1, which powers the new MacBook Air, 13-inch MacBook Pro, and Mac mini and is Apple's first custom-designed Arm-based chip for Mac.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/354a97772e16c2a05dbccc89556de9eb\" tg-width=\"640\" tg-height=\"465\"><span>Chart 4</span></p>\n<p>TSMC has upgraded its manufacturing capabilities countless times to keep Apple’s latest chips at the bleeding edge of processor technologies, since its first chip produced for Apple was installed in the Apple iPhone 6 and iPhone 6 Plus, which were introduced on September 9, 2014.</p>\n<p>Chart 5 shows that the number of transistors increased from 2 billion for the iPhone 6 to 11.8 billion for the current iPhone 12.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/108ef270fe60691ec5bc8c7f0a061d9c\" tg-width=\"640\" tg-height=\"462\"><span>Chart 5</span></p>\n<p>Thus, investors must consider that:</p>\n<p>Any positive developments from Apple will impact TSMC positively, and positive technological developments from TSMC will impact Apple positively. For example, as long as TSMC is the major manufacturer of Apple chips, growth in Apple or new technologies developed by Apple requiring chips (such as Auto or ADAS), then TSMC will gain.</p>\n<p>Secondly, because of capacity limitations and technology node demands, any expansion in capacity from TSMC will be beneficial to Apple as it moves to smaller nodes while consuming about 25% of TSMC’s chip output on a revenue basis.</p>\n<p>UMC is less transparent and doesn’t provide a breakdown by customer. UMC’s primary customers include premier integrated device manufacturers, such as Texas Instruments(NASDAQ:TXN)and Intel Mobile(NASDAQ:INTC), plus leading fabless design companies, such as MediaTek(OTCPK:MDTKF), Realtek, Qualcomm(NASDAQ:QCOM)and Novatek.</p>\n<p>In August 2018, UMC announced it would pause research for advancing the productional technology of chips under 10nm nodes. As shown in the figure above, since 2018, the corresponding proportion of the company's advanced processes has been reduced to zero, but for mature nodes such as 65nm and 28nm, the proportion has been increased.</p>\n<p><b>Investor Takeaways</b>: Is TSM Or UMC Stock A Better Buy?</p>\n<p>Both companies compete in the same industry, but their business models are a differentiating metric. TSMC generates most of its revenue on nodes smaller than UMC’s (Chart 1), and most of its planned capex will focus new fabs making ICs at increasing smaller nodes.</p>\n<p><b>TSMC Positives</b></p>\n<p>TSMC’s share of the pure-play foundry market was 57% share in 2020, up from 55% in 2019. UMC’s share was constant at slightly less than 8%.</p>\n<p>TSMC benefits from the smaller nodes. Although capex increases with decreasing nodes (Chart 3), so too does gross profit (Chart 2). Thus, TSM has higher revenues than UMC: $48.2B vs $6.283B.</p>\n<ul>\n <li><p>TSMC also has higher annual earnings (EBITDA): $33B vs. UMC $2.349B.</p></li>\n <li><p>TSMC ($613B) has a higher market cap than UMC ($23.4B).</p></li>\n <li><p>TSMC has more cash on hand: $23.3B vs. UMC ($3.76B).</p></li>\n <li><p>TSMC has a higher EPS (3.99) than UMC (0.59).</p></li>\n</ul>\n<p>Seeking Alpha’s quant ratings are derived by measuring a stock's financial metrics against other stocks in the sector on the basis of value, growth, profitability, momentum and analysts’ earnings revisions. In Table 1, both stocks have high rankings. TSMC has a quant rating of 4.63 and UMC has a quant rating of 4.54.</p>\n<p><img src=\"https://static.tigerbbs.com/55db72bd38ddd1d46c2ec7a6ccf6307f\" tg-width=\"640\" tg-height=\"117\" referrerpolicy=\"no-referrer\"></p>\n<p>Gross margin for TSMC and UMC is shown in Table 2. A positive for TSMC, gross margin is significantly ahead of UMC and the average of all foundries. The Street expects 3Q21 gross margin will improve to 52.9%, given a higher revenue scale, tight foundry supply and improved efficiency of 5nm production.</p>\n<p><img src=\"https://static.tigerbbs.com/4ab6dce4d14398755080d9db48522121\" tg-width=\"640\" tg-height=\"126\" referrerpolicy=\"no-referrer\"></p>\n<p><b>UMC Positives</b></p>\n<p>The comparison of other financial metrics, UMC has stronger financials:</p>\n<ul>\n <li><p>UMC has a lower P/E ratio than TSM: 21.8 vs 28.9</p></li>\n <li><p>UMC has less debt than TSM: $2.47B vs $15.4B.</p></li>\n <li><p>UMC YTD gains are higher at: 10.558 vs. TSM (8.922).</p></li>\n</ul>\n<p>Table 3 shows stock performance in percent growth for TSM and UMC. In the past year, UMC stock has outperformed TSMC, and did so in the 3-year and 5-year period. But in a 10-year period, TSMC is the better choice.</p>\n<p><img src=\"https://static.tigerbbs.com/7533369f256853d498f5492752417e05\" tg-width=\"640\" tg-height=\"172\" referrerpolicy=\"no-referrer\"></p>\n<p>TSMC is the clear winner over UMC going forward. The company chose its strategy to build chips at the &lt;7nm node. The fact that it is building a 28nm fab in China, the “sweet spot” for UMC, coupled with a new 28nm SMIC (OTCQX:SMICY) fab, will mean lost market share at this node for UMC.</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>Taiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?</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\">\nTaiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 08:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4438509-taiwan-semiconductor-vs-united-microelectronics-stock><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, manufacturing 11,617 different products using 281 distinct technologies for 510 different customers.\n...</p>\n\n<a href=\"https://seekingalpha.com/article/4438509-taiwan-semiconductor-vs-united-microelectronics-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UMC":"联电","TSM":"台积电"},"source_url":"https://seekingalpha.com/article/4438509-taiwan-semiconductor-vs-united-microelectronics-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145284684","content_text":"Summary\n\nTSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, manufacturing 11,617 different products using 281 distinct technologies for 510 different customers.\nTSMC and fellow Taiwan foundry United Microelectronics Corporation are expected to benefit from a chip-supply crisis that is adversely impacting automakers.\nTSMC benefits from a gross margin nearly twice that of UMC.\n40% of revenues are from nodes <14nm, below the smallest node of UMC.\n\nBING-JHEN HONG/iStock Editorial via Getty Images\nTaiwan Semiconductor Manufacturing Company Limited or TSMC (TSM), and United Microelectronics Corporation or UMC (UMC) are both headquartered in Taiwan and both manufacture semiconductors for companies on a contract basis. They both provide high quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry and are defined as pure-play foundries.\nWhile they have similarities, the two companies are vastly different with different business models. TSMC started as and has always been a leading-edge company, manufacturing chips at the smallest dimensions. UMC, on the other hand, Taiwan’s first semiconductor company, has chosen the 14nm node as the smallest dimension it will manufacture.\nTo illustrate the differences in models, Chart 1 shows revenues for both companies based on technology node. The key difference is the <14nm node, where TSMC generated 41.4% of its revenue compared to 0% for UMC.\nChart 1 also shows that TSMC held $43 billion in revenues in 2020 versus $6 billion for UMC. Importantly, it shows also shows the financial dominance of TSMC, since UMC holds second place in the global foundry market.\nChart 1\nMuch of TSMC’s revenues are on the <14nm node, which increased from 29.4% of revenues in 2019 to 41.4% in 2020. Since UMC’s smallest node is 28nm/14nm, UMC is investing heavily at that node, and its share of revenue increased from 11.3% in 2019 to 13.6% in 2020. In contrast, in 2020 TSMC’s share at the 28nm/14nm node decreased to 30.8% from 37.7% in 2019.\nExpanding Capacity\nLeading Edge Nodes\nTSMC generates about 1/3 of its revenues from the 28nm/14nm, and TSMC has 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent).\nIn TSMC’sQ1 2021 earnings call, TSMC’s VP and CFO Wendell Huang noted:\n\n “In order to meet the increasing demand for our advanced and specialty technologies in the next several years, we have decided to raise our full year 2021 CapEx to be around USD 30 billion. About 80% of the 2021 capital budget will be allocated for advanced process technologies, including 3-nanometer, 5-nanometer and 7-nanometer. About 10% will be spent for advanced packaging and mask making, and about 10% will be spent for specialty technologies.”\n\nTSMC expects to invest about $100 billion through the next 3 years to increase capacity, to support the manufacturing and R&D of leading-edge and specialty technologies. Its N5 is already in its second year of volume production, contributing around 20% of our wafer revenue in 2021. N4 risk production is targeted for second half this year and volume production in 2022.\nAmong TSMC's facilities to go online in the next three to four years are the company's fab in Arizona as well as its first 2nm-capable fab in Taiwan. The company needs to build and equip its N5-capable fab in Arizona. The facility will cost around $12 billion, will have a capacity of 20,000 wafer starts per month (WSPM), and will come online in 2024.\n28nm Nodes\nThe global semiconductor shortage is one of the catalysts prompting foundry manufacturers to build new fabs, particularly at the 28nm node, as many automobile chips are manufactured at that node. While I have devoted four Seeking Alpha articles on trying to pin down what devices are undersupplied and could only find microcontrollers, in this article, I will concede for the sake of argument, that it is not due to hoarding but inept manufacturing supply chains.\nAs a result, governments are spending heavily on this industry to expand the total production capacity. These free handouts are a second catalyst for new 28nm node fab construction.\nA strong demand for wafers from the consumer electronics industry has led to increased shipments of UMC’s 28nm wafers, which saw 18% sequential revenue growth in the last reported quarter. In addition, UMC has been focused on production for the automotive industry as semiconductors for electric and self-driving cars are expected to be a major growth driver for the company. However, global automotive semiconductors are only a $40 billion market, compared to a global semiconductor market of $525 billion. That is growing as more semiconductors are used per vehicle each year and because EVs use more semiconductors than internal combustion vehicles.\nThere is a supply-demand imbalance in mature nodes, as most of the capacity expansion has been in advanced nodes, but companies have not addressed the mature nodes. The technology node is central to the latest auto chip crisis, while at the same time Sony has moved its design of CMOS Integrated Sensors (\"CIS\") for smartphones to 28nm.\nOn April 22, TSMC announced plans to build a chip fabrication facility in China is at the receiving end of opposition from critics. The plant is set to make semiconductors built on the mature 28nm process node. The Nanjing plant currently has an installed capacity of 20,000 wafers per month. An investment of $2.8 billion and expecting mass-production in 2023, the expansion will double capacity to 40,000 wafers per month.\nTSMC has global 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent). The new fab with a 20,000 wafer per month capacity represents just 2% of the company’s total capacity.\nUMC also expanded its production of 28nm (with a migration to 40nm) process at its Nanke 12-inch Fab 12A P6 plant in Taiwan. It currently has an 87,000 wafer per month capacity. The total investment in the capacity expansion plan is estimated to be approximately NT$100 billion. The P6 expansion is scheduled for production in the second quarter of 2023, and has a capacity of just 10,000 wafers per month.\nThe P6 program is supported by a multi-year's product alignment between UMC and the involved customers that includes a loading protection mechanism that will ensure the P6 capacity is maintained at a healthy loading level.\nUMC has total 12 fabs in production with combined capacity close to 800,000 wafers per month (8-in equivalent).\nPrice Per Wafer\nChart 2 shows the gross profit by node for an IC device. It partially explains the rationale behind TSMC’s business model to move to advanced nodes, while also explaining why the company chose to leave its 28nm node undersupplied until recent external forces prompted it to build its China fab.\nGross profits per 300-mm wafer are $2,835 for a 28nm node versus $8,695 for a 3nm node.\nChart 2\nChart 3 shows capex spend by node for ICs. Capex spend (building + equipment) at 28nm is $100,000 per wafer, which more than triples to $320,000 at 3nm.\nChart 3\nCustomer Base\nChart 4 shows that Apple (AAPL) was the largest customer of TSMC in 2020, representing 21% of revenues. Keep in mind that in addition to TSMC’s processors going into iPhones, TSMC also fabricates the M1, which powers the new MacBook Air, 13-inch MacBook Pro, and Mac mini and is Apple's first custom-designed Arm-based chip for Mac.\nChart 4\nTSMC has upgraded its manufacturing capabilities countless times to keep Apple’s latest chips at the bleeding edge of processor technologies, since its first chip produced for Apple was installed in the Apple iPhone 6 and iPhone 6 Plus, which were introduced on September 9, 2014.\nChart 5 shows that the number of transistors increased from 2 billion for the iPhone 6 to 11.8 billion for the current iPhone 12.\nChart 5\nThus, investors must consider that:\nAny positive developments from Apple will impact TSMC positively, and positive technological developments from TSMC will impact Apple positively. For example, as long as TSMC is the major manufacturer of Apple chips, growth in Apple or new technologies developed by Apple requiring chips (such as Auto or ADAS), then TSMC will gain.\nSecondly, because of capacity limitations and technology node demands, any expansion in capacity from TSMC will be beneficial to Apple as it moves to smaller nodes while consuming about 25% of TSMC’s chip output on a revenue basis.\nUMC is less transparent and doesn’t provide a breakdown by customer. UMC’s primary customers include premier integrated device manufacturers, such as Texas Instruments(NASDAQ:TXN)and Intel Mobile(NASDAQ:INTC), plus leading fabless design companies, such as MediaTek(OTCPK:MDTKF), Realtek, Qualcomm(NASDAQ:QCOM)and Novatek.\nIn August 2018, UMC announced it would pause research for advancing the productional technology of chips under 10nm nodes. As shown in the figure above, since 2018, the corresponding proportion of the company's advanced processes has been reduced to zero, but for mature nodes such as 65nm and 28nm, the proportion has been increased.\nInvestor Takeaways: Is TSM Or UMC Stock A Better Buy?\nBoth companies compete in the same industry, but their business models are a differentiating metric. TSMC generates most of its revenue on nodes smaller than UMC’s (Chart 1), and most of its planned capex will focus new fabs making ICs at increasing smaller nodes.\nTSMC Positives\nTSMC’s share of the pure-play foundry market was 57% share in 2020, up from 55% in 2019. UMC’s share was constant at slightly less than 8%.\nTSMC benefits from the smaller nodes. Although capex increases with decreasing nodes (Chart 3), so too does gross profit (Chart 2). Thus, TSM has higher revenues than UMC: $48.2B vs $6.283B.\n\nTSMC also has higher annual earnings (EBITDA): $33B vs. UMC $2.349B.\nTSMC ($613B) has a higher market cap than UMC ($23.4B).\nTSMC has more cash on hand: $23.3B vs. UMC ($3.76B).\nTSMC has a higher EPS (3.99) than UMC (0.59).\n\nSeeking Alpha’s quant ratings are derived by measuring a stock's financial metrics against other stocks in the sector on the basis of value, growth, profitability, momentum and analysts’ earnings revisions. In Table 1, both stocks have high rankings. TSMC has a quant rating of 4.63 and UMC has a quant rating of 4.54.\n\nGross margin for TSMC and UMC is shown in Table 2. A positive for TSMC, gross margin is significantly ahead of UMC and the average of all foundries. The Street expects 3Q21 gross margin will improve to 52.9%, given a higher revenue scale, tight foundry supply and improved efficiency of 5nm production.\n\nUMC Positives\nThe comparison of other financial metrics, UMC has stronger financials:\n\nUMC has a lower P/E ratio than TSM: 21.8 vs 28.9\nUMC has less debt than TSM: $2.47B vs $15.4B.\nUMC YTD gains are higher at: 10.558 vs. TSM (8.922).\n\nTable 3 shows stock performance in percent growth for TSM and UMC. In the past year, UMC stock has outperformed TSMC, and did so in the 3-year and 5-year period. But in a 10-year period, TSMC is the better choice.\n\nTSMC is the clear winner over UMC going forward. The company chose its strategy to build chips at the <7nm node. The fact that it is building a 28nm fab in China, the “sweet spot” for UMC, coupled with a new 28nm SMIC (OTCQX:SMICY) fab, will mean lost market share at this node for UMC.","news_type":1},"isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}