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2021-07-04

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2021-06-16

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2021-06-15

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What to Expect in This Week’s Federal Reserve Meeting<blockquote>本周美联储会议值得期待</blockquote>

2021-06-14

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2021-06-13

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Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme 股票飙升 1,000%，领跑这两只顶级小盘股</blockquote>

2021-06-13

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2021-06-12

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2021-06-11

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2021-06-11

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Palantir: A Dilution Adjusted Value<blockquote>Palantir：稀释调整值</blockquote>

2021-06-11

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2021-06-11

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2021-06-11

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Cathie Wood, Bullish On Bitcoin, Lifts Coinbase Stake Above $1B, Snaps Up More UiPath Shares<blockquote>Cathie Wood 看好比特币，将 Coinbase 持股增至 $1B 以上，并抢购更多 UiPath 股票</blockquote>

2021-06-10

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2021-06-09

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2021-06-08

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2021-06-07

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2021-06-05

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The S&P 500 would be below 1,600 without these 3 pillars and those supports are now weakening<blockquote>如果没有这三大支柱，标普500将低于 1,600，而这些支撑现在正在减弱</blockquote>

2021-06-02

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AMC stock gains extended to 31% in premarket trading<blockquote>AMC 股价在盘前交易中涨幅扩大至 31%</blockquote>

2021-05-31

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2021-05-30

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13:54","market":"us","language":"en","title":"What to Expect in This Week’s Federal Reserve Meeting<blockquote>本周美联储会议值得期待</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1138219989","media":"Barrons","summary":"As the Federal Open Market Committee holds its regular policy meeting this coming week, once again a","content":"<p>As the Federal Open Market Committee holds its regular policy meeting this coming week, once again analysts and investors should flip the Nixon-era cliché and watch what they say, not what they do. What everybody wants to know is whether the panel finally has gotten around to talking about talking about moving away from its ubereasy monetary policy.</p><p><blockquote>随着联邦公开市场委员会下周召开定期政策会议，分析师和投资者应该再次颠覆尼克松时代的陈词滥调，关注他们所说的，而不是他们所做的。每个人都想知道的是，该小组是否最终开始谈论放弃其超级宽松的货币政策。</blockquote></p><p> We all know that the FOMC won’t take any substantive steps in terms of its massive securities purchases, which are still running at $120 billion a month. As for its key federal-funds rate target, that’s stuck at 0% to 0.25% (although there’s an outside chance of technical tweaking of some other Fed-administered rates to address the billions in excess cash sloshing around in the money markets).</p><p><blockquote>我们都知道，联邦公开市场委员会（FOMC）不会在其大规模证券购买方面采取任何实质性措施，而这些证券购买仍在以每月1200亿美元的速度进行。至于其主要的联邦基金利率目标，则停留在 0% 至 0.25%（尽管美联储管理的其他一些利率有可能进行技术性调整，以解决货币市场上数十亿美元的过剩现金问题）。</blockquote></p><p> We’ll be looking for what’s in the FOMC’s formal policy statement and the panel’s updated Summary of Economic Projections, which will include the amalgam of the committee members’ guesses on key economic gauges, such as gross domestic product, inflation, and unemployment. Most likely, when that is posted&nbsp;on the Fed’s website&nbsp;at 2 p.m. Eastern Daylight Time on Wednesday, most folks will probably head straight for the FOMC’s guesses on the fed-funds rate, and specifically when liftoff from near-zero is finally expected.</p><p><blockquote>我们将关注联邦公开市场委员会的正式政策声明和该小组最新的经济预测摘要，其中将包括委员会成员对国内生产总值、通货膨胀和失业率等关键经济指标的猜测。最有可能的是，当美联储网站于美国东部时间周三下午 2 点公布这一消息时，大多数人可能会直奔联邦公开市场委员会对联邦基金利率的猜测，特别是何时最终有望从接近于零的水平回升。</blockquote></p><p> The “dot plot”—or graph of the FOMC members’ consensus guesses—puts the first hike all the way out past 2023. That seems a very long-term forecast, and as John Maynard Keynes famously pointed out, in the long run we’re all dead. Some Fed watchers, such as J.P. Morgan’s chief U.S. economist, Michael Feroli, look for the dots to show a 2023 liftoff.</p><p><blockquote>“点阵图”--或联邦公开市场委员会成员一致猜测的图表--将首次加息一直推迟到 2023 年之后。这似乎是一个非常长期的预测，正如约翰-梅纳德-凯恩斯（John Maynard Keynes）的名言，从长远来看，我们都死了。摩根大通（J.P. Morgan）首席美国经济学家迈克尔-费罗利（Michael Feroli）等一些美联储观察家认为，美联储将在2023年有所回升。</blockquote></p><p> The markets, however, already had been pricing in one or more fed-funds rate hikes by 2023. But concurrent with the previously discussed slide in longer-term bond yields, the interest-rate futures markets have effectively priced out one of those short-term rate increases. In addition, the derivatives market now sees the fed-funds rate peaking under 2%, some 0.4 of a percentage point lower than what it had priced in earlier this year, according to analysts for&nbsp;Natixis.</p><p><blockquote>然而，市场已经预计到 2023 年联邦基金将加息一次或多次。但在之前讨论的长期债券收益率下滑的同时，利率期货市场实际上已经将其中一次短期加息定价。此外，据 Natixis 分析师称，衍生品市场目前联邦基金利率峰值低于 2%，比今年早些时候的定价低约 0.4 个百分点。</blockquote></p><p> Long before making any rate hikes, the Fed will begin to lessen its accommodation by slowing its current pace of securities purchases, which consist of $80 billion of Treasuries and $40 billion of agency mortgage-backed securities every month. The trillions that the Federal Reserve and other central banks have created have gone a long way to boost the values of assets, which rose by $5 trillion, to $136.9 trillion, in the first quarter, according to new Fed data released this past week. That includes a $3.2 trillion rise in the value of equities owned by households and a $968 billion rise in their real estate holdings.</p><p><blockquote>早在加息之前，美联储就会开始通过放缓目前的证券购买步伐来减少宽松，其中包括每月 800 亿美元的国债和 400 亿美元的机构抵押贷款支持证券。根据美联储上周发布的新数据，美联储和其他央行创造的数万亿美元对第一季度资产价值的提升大有帮助，资产价值增加了5万亿美元，达到136.9万亿美元。其中包括家庭持有的股票价值增加 3.2 万亿美元，家庭持有的房地产增加 9,680 亿美元。</blockquote></p><p> The key criterion for reduced Fed accommodation is whether the monetary authorities see “substantial further progress” toward reaching what they deem as maximum employment, probably a deliberately ambiguous standard.</p><p><blockquote>美联储减少宽松政策的关键标准是货币当局是否认为在实现他们认为的最大就业方面取得了 “实质性的进一步进展”，这可能是一个故意模糊的标准。</blockquote></p><p> But the increase in payrolls appears to be constrained as much by the supply of labor as businesses’ desire to hire. The latest Job Openings and Labor Turnover Survey, or Jolts, showed&nbsp;a record 9.3 million unfilled openings&nbsp;in April. In addition, 384,000 people left their positions that month, bringing the total of voluntary job quitters to a record four million.</p><p><blockquote>但就业人数的增长似乎既受到劳动力供应的制约，也受到企业招聘意愿的制约。最新的职位空缺和劳动力流动调查（Jolts）显示，4月份有创纪录的930万个职位空缺。此外，当月有384,000人离职，使自愿离职的总人数达到创纪录的400万。</blockquote></p><p> Anecdotal evidence, including some in the Fed’s beige book summary of economic conditions prepared for the coming meeting, suggests that employers aren’t finding enough workers because of generous unemployment compensation. Unusual for a social science such as economics, there will be a real-time experiment to test this hypothesis as 25 states end the extra $300 weekly payment early.</p><p><blockquote>一些轶事证据，包括美联储为即将召开的会议准备的褐皮书《经济状况摘要》中的一些轶事证据，表明由于丰厚的失业救济金，雇主找不到足够的工人。对于经济学等社会科学来说，这是不寻常的，随着 25 个州提前结束每周额外 300 美元的付款，将会有一个实时实验来检验这一假设。</blockquote></p><p> Jefferies economists Aneta Markowska and Thomas Simons write in a research note that these 25 states account for about a quarter of all the unemployed workers. Ending their extra jobless benefits could boost employment by roughly two million in the next few months, they estimate. Another growth spurt should follow in September and October after the extra unemployment insurance expires in the remaining states; schools reopen—providing free daycare for some would-be workers, especially women; and many office employees return to their desks, they add.</p><p><blockquote>杰富瑞经济学家Aneta Markowska和Thomas Simons在一份研究报告中写道，这25个州约占所有失业工人的四分之一。他们估计，结束额外的失业救济金可能会在未来几个月内增加大约200万人的就业机会。在其余州的额外失业保险到期后，9月和10月应该会出现另一次增长激增；学校重新开放——为一些未来的工人，尤其是妇女提供免费日托；他们补充说，许多上班族回到了办公桌前。</blockquote></p><p> At that point, the Fed might start talking about actually reducing its massive securities purchases. Given the “taper tantrum” thrown by the markets when the central bank slowed its bond buying in 2013, this Fed will want to disclose how, when, and how fast it plans to slow its pour into the punch bowl. That’s what we’ll be listening for this week.</p><p><blockquote>到那时，美联储可能会开始谈论实际减少其大规模证券购买。鉴于美联储在 2013 年放缓债券购买速度时市场掀起了 “缩减债券狂潮”，本届美联储将希望披露其计划如何、何时以及以多快的速度放缓向潘趣酒碗中注入债券。这就是我们本周将收听的内容。</blockquote></p><p></p>","source":"lsy1601382232898","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 to Expect in This Week’s Federal Reserve Meeting<blockquote>本周美联储会议值得期待</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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 to Expect in This Week’s Federal Reserve Meeting<blockquote>本周美联储会议值得期待</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-14 13:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As the Federal Open Market Committee holds its regular policy meeting this coming week, once again analysts and investors should flip the Nixon-era cliché and watch what they say, not what they do. What everybody wants to know is whether the panel finally has gotten around to talking about talking about moving away from its ubereasy monetary policy.</p><p><blockquote>随着联邦公开市场委员会下周召开定期政策会议，分析师和投资者应该再次颠覆尼克松时代的陈词滥调，关注他们所说的，而不是他们所做的。每个人都想知道的是，该小组是否最终开始谈论放弃其超级宽松的货币政策。</blockquote></p><p> We all know that the FOMC won’t take any substantive steps in terms of its massive securities purchases, which are still running at $120 billion a month. As for its key federal-funds rate target, that’s stuck at 0% to 0.25% (although there’s an outside chance of technical tweaking of some other Fed-administered rates to address the billions in excess cash sloshing around in the money markets).</p><p><blockquote>我们都知道，联邦公开市场委员会（FOMC）不会在其大规模证券购买方面采取任何实质性措施，而这些证券购买仍在以每月1200亿美元的速度进行。至于其主要的联邦基金利率目标，则停留在 0% 至 0.25%（尽管美联储管理的其他一些利率有可能进行技术性调整，以解决货币市场上数十亿美元的过剩现金问题）。</blockquote></p><p> We’ll be looking for what’s in the FOMC’s formal policy statement and the panel’s updated Summary of Economic Projections, which will include the amalgam of the committee members’ guesses on key economic gauges, such as gross domestic product, inflation, and unemployment. Most likely, when that is posted&nbsp;on the Fed’s website&nbsp;at 2 p.m. Eastern Daylight Time on Wednesday, most folks will probably head straight for the FOMC’s guesses on the fed-funds rate, and specifically when liftoff from near-zero is finally expected.</p><p><blockquote>我们将关注联邦公开市场委员会的正式政策声明和该小组最新的经济预测摘要，其中将包括委员会成员对国内生产总值、通货膨胀和失业率等关键经济指标的猜测。最有可能的是，当美联储网站于美国东部时间周三下午 2 点公布这一消息时，大多数人可能会直奔联邦公开市场委员会对联邦基金利率的猜测，特别是何时最终有望从接近于零的水平回升。</blockquote></p><p> The “dot plot”—or graph of the FOMC members’ consensus guesses—puts the first hike all the way out past 2023. That seems a very long-term forecast, and as John Maynard Keynes famously pointed out, in the long run we’re all dead. Some Fed watchers, such as J.P. Morgan’s chief U.S. economist, Michael Feroli, look for the dots to show a 2023 liftoff.</p><p><blockquote>“点阵图”--或联邦公开市场委员会成员一致猜测的图表--将首次加息一直推迟到 2023 年之后。这似乎是一个非常长期的预测，正如约翰-梅纳德-凯恩斯（John Maynard Keynes）的名言，从长远来看，我们都死了。摩根大通（J.P. Morgan）首席美国经济学家迈克尔-费罗利（Michael Feroli）等一些美联储观察家认为，美联储将在2023年有所回升。</blockquote></p><p> The markets, however, already had been pricing in one or more fed-funds rate hikes by 2023. But concurrent with the previously discussed slide in longer-term bond yields, the interest-rate futures markets have effectively priced out one of those short-term rate increases. In addition, the derivatives market now sees the fed-funds rate peaking under 2%, some 0.4 of a percentage point lower than what it had priced in earlier this year, according to analysts for&nbsp;Natixis.</p><p><blockquote>然而，市场已经预计到 2023 年联邦基金将加息一次或多次。但在之前讨论的长期债券收益率下滑的同时，利率期货市场实际上已经将其中一次短期加息定价。此外，据 Natixis 分析师称，衍生品市场目前联邦基金利率峰值低于 2%，比今年早些时候的定价低约 0.4 个百分点。</blockquote></p><p> Long before making any rate hikes, the Fed will begin to lessen its accommodation by slowing its current pace of securities purchases, which consist of $80 billion of Treasuries and $40 billion of agency mortgage-backed securities every month. The trillions that the Federal Reserve and other central banks have created have gone a long way to boost the values of assets, which rose by $5 trillion, to $136.9 trillion, in the first quarter, according to new Fed data released this past week. That includes a $3.2 trillion rise in the value of equities owned by households and a $968 billion rise in their real estate holdings.</p><p><blockquote>早在加息之前，美联储就会开始通过放缓目前的证券购买步伐来减少宽松，其中包括每月 800 亿美元的国债和 400 亿美元的机构抵押贷款支持证券。根据美联储上周发布的新数据，美联储和其他央行创造的数万亿美元对第一季度资产价值的提升大有帮助，资产价值增加了5万亿美元，达到136.9万亿美元。其中包括家庭持有的股票价值增加 3.2 万亿美元，家庭持有的房地产增加 9,680 亿美元。</blockquote></p><p> The key criterion for reduced Fed accommodation is whether the monetary authorities see “substantial further progress” toward reaching what they deem as maximum employment, probably a deliberately ambiguous standard.</p><p><blockquote>美联储减少宽松政策的关键标准是货币当局是否认为在实现他们认为的最大就业方面取得了 “实质性的进一步进展”，这可能是一个故意模糊的标准。</blockquote></p><p> But the increase in payrolls appears to be constrained as much by the supply of labor as businesses’ desire to hire. The latest Job Openings and Labor Turnover Survey, or Jolts, showed&nbsp;a record 9.3 million unfilled openings&nbsp;in April. In addition, 384,000 people left their positions that month, bringing the total of voluntary job quitters to a record four million.</p><p><blockquote>但就业人数的增长似乎既受到劳动力供应的制约，也受到企业招聘意愿的制约。最新的职位空缺和劳动力流动调查（Jolts）显示，4月份有创纪录的930万个职位空缺。此外，当月有384,000人离职，使自愿离职的总人数达到创纪录的400万。</blockquote></p><p> Anecdotal evidence, including some in the Fed’s beige book summary of economic conditions prepared for the coming meeting, suggests that employers aren’t finding enough workers because of generous unemployment compensation. Unusual for a social science such as economics, there will be a real-time experiment to test this hypothesis as 25 states end the extra $300 weekly payment early.</p><p><blockquote>一些轶事证据，包括美联储为即将召开的会议准备的褐皮书《经济状况摘要》中的一些轶事证据，表明由于丰厚的失业救济金，雇主找不到足够的工人。对于经济学等社会科学来说，这是不寻常的，随着 25 个州提前结束每周额外 300 美元的付款，将会有一个实时实验来检验这一假设。</blockquote></p><p> Jefferies economists Aneta Markowska and Thomas Simons write in a research note that these 25 states account for about a quarter of all the unemployed workers. Ending their extra jobless benefits could boost employment by roughly two million in the next few months, they estimate. Another growth spurt should follow in September and October after the extra unemployment insurance expires in the remaining states; schools reopen—providing free daycare for some would-be workers, especially women; and many office employees return to their desks, they add.</p><p><blockquote>杰富瑞经济学家Aneta Markowska和Thomas Simons在一份研究报告中写道，这25个州约占所有失业工人的四分之一。他们估计，结束额外的失业救济金可能会在未来几个月内增加大约200万人的就业机会。在其余州的额外失业保险到期后，9月和10月应该会出现另一次增长激增；学校重新开放——为一些未来的工人，尤其是妇女提供免费日托；他们补充说，许多上班族回到了办公桌前。</blockquote></p><p> At that point, the Fed might start talking about actually reducing its massive securities purchases. Given the “taper tantrum” thrown by the markets when the central bank slowed its bond buying in 2013, this Fed will want to disclose how, when, and how fast it plans to slow its pour into the punch bowl. That’s what we’ll be listening for this week.</p><p><blockquote>到那时，美联储可能会开始谈论实际减少其大规模证券购买。鉴于美联储在 2013 年放缓债券购买速度时市场掀起了 “缩减债券狂潮”，本届美联储将希望披露其计划如何、何时以及以多快的速度放缓向潘趣酒碗中注入债券。这就是我们本周将收听的内容。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/what-to-expect-in-next-weeks-federal-reserve-meeting-51623457837?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/what-to-expect-in-next-weeks-federal-reserve-meeting-51623457837?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138219989","content_text":"As the Federal Open Market Committee holds its regular policy meeting this coming week, once again analysts and investors should flip the Nixon-era cliché and watch what they say, not what they do. What everybody wants to know is whether the panel finally has gotten around to talking about talking about moving away from its ubereasy monetary policy.\nWe all know that the FOMC won’t take any substantive steps in terms of its massive securities purchases, which are still running at $120 billion a month. As for its key federal-funds rate target, that’s stuck at 0% to 0.25% (although there’s an outside chance of technical tweaking of some other Fed-administered rates to address the billions in excess cash sloshing around in the money markets).\nWe’ll be looking for what’s in the FOMC’s formal policy statement and the panel’s updated Summary of Economic Projections, which will include the amalgam of the committee members’ guesses on key economic gauges, such as gross domestic product, inflation, and unemployment. Most likely, when that is posted on the Fed’s website at 2 p.m. Eastern Daylight Time on Wednesday, most folks will probably head straight for the FOMC’s guesses on the fed-funds rate, and specifically when liftoff from near-zero is finally expected.\nThe “dot plot”—or graph of the FOMC members’ consensus guesses—puts the first hike all the way out past 2023. That seems a very long-term forecast, and as John Maynard Keynes famously pointed out, in the long run we’re all dead. Some Fed watchers, such as J.P. Morgan’s chief U.S. economist, Michael Feroli, look for the dots to show a 2023 liftoff.\nThe markets, however, already had been pricing in one or more fed-funds rate hikes by 2023. But concurrent with the previously discussed slide in longer-term bond yields, the interest-rate futures markets have effectively priced out one of those short-term rate increases. In addition, the derivatives market now sees the fed-funds rate peaking under 2%, some 0.4 of a percentage point lower than what it had priced in earlier this year, according to analysts for Natixis.\nLong before making any rate hikes, the Fed will begin to lessen its accommodation by slowing its current pace of securities purchases, which consist of $80 billion of Treasuries and $40 billion of agency mortgage-backed securities every month. The trillions that the Federal Reserve and other central banks have created have gone a long way to boost the values of assets, which rose by $5 trillion, to $136.9 trillion, in the first quarter, according to new Fed data released this past week. That includes a $3.2 trillion rise in the value of equities owned by households and a $968 billion rise in their real estate holdings.\nThe key criterion for reduced Fed accommodation is whether the monetary authorities see “substantial further progress” toward reaching what they deem as maximum employment, probably a deliberately ambiguous standard.\nBut the increase in payrolls appears to be constrained as much by the supply of labor as businesses’ desire to hire. The latest Job Openings and Labor Turnover Survey, or Jolts, showed a record 9.3 million unfilled openings in April. In addition, 384,000 people left their positions that month, bringing the total of voluntary job quitters to a record four million.\nAnecdotal evidence, including some in the Fed’s beige book summary of economic conditions prepared for the coming meeting, suggests that employers aren’t finding enough workers because of generous unemployment compensation. Unusual for a social science such as economics, there will be a real-time experiment to test this hypothesis as 25 states end the extra $300 weekly payment early.\nJefferies economists Aneta Markowska and Thomas Simons write in a research note that these 25 states account for about a quarter of all the unemployed workers. Ending their extra jobless benefits could boost employment by roughly two million in the next few months, they estimate. Another growth spurt should follow in September and October after the extra unemployment insurance expires in the remaining states; schools reopen—providing free daycare for some would-be workers, especially women; and many office employees return to their desks, they add.\nAt that point, the Fed might start talking about actually reducing its massive securities purchases. Given the “taper tantrum” thrown by the markets when the central bank slowed its bond buying in 2013, this Fed will want to disclose how, when, and how fast it plans to slow its pour into the punch bowl. That’s what we’ll be listening for this week.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":4287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185874164,"gmtCreate":1623644126658,"gmtModify":1631884569271,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/185874164","repostId":"1105297799","repostType":4,"isVote":1,"tweetType":1,"viewCount":3325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182369366,"gmtCreate":1623554305155,"gmtModify":1631884569280,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/182369366","repostId":"1185020128","repostType":4,"repost":{"id":"1185020128","kind":"news","pubTimestamp":1623537503,"share":"https://www.laohunote.com/m/news/1185020128?lang=zh_CN&edition=full","pubTime":"2021-06-13 06:38","market":"us","language":"en","title":"Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme 股票飙升 1,000%，领跑这两只顶级小盘股</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185020128","media":"investors","summary":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ","content":"<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是 SPDR S&amp;P 600 小盘股价值的最大持股，但这并不是该 ETF 击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值 42 亿美元的价值基金追踪标准普尔小型股 600 价值指数 (SLYV)，该指数由基于账面市盈率、市盈率和销售率的最强价值特征的股票组成。截至周四收盘，SLYV 今年上涨了 32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这比其成长型股票 SPDR S&amp;P 600 Small Cap Growth (SLYG) 的回报率增加了一倍多，后者上涨了 15%。SLYG 跟踪的指数包括基于销售增长、盈利对价格和势头的变化而具有最强增长特征的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到 SLYV，金融业占该行业权重最大，占资产的 24%。工业约占17%，非必需消费品15%，房地产10%。信息技术紧随其后，占8%，材料、能源和医疗保健各占6%。消费品、公用事业和通信服务等较小的头寸占其余头寸。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 小盘股价值位居 IBD ETF 领先地位，但 SPDR S&amp;P 600 小盘股增长并非如此。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>（米），<b>PDC能源</b>（PDCE），<b>Resideo技术公司</b>（雷齐）和<b>联合银行</b>（BKU）是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>床浴及其他</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一个夏威夷人</b>（FHB）和<b>洞察企业</b>（NSIT）跻身前10名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了很大的波动。今年早些时候，在 Reddit/WallStreetBets crowd.GME 引发的空头挤压反弹中，该股飙升约 2,500%。随后，GME 股票从 1 月 28 日的高点暴跌 92%，跌至 2 月中旬的低点。随后在接下来的三周内飙升了 805%，在接下来的两周内下降了 66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌 27%。即便如此，截至周四收盘，游戏驿站股价今年迄今已上涨 1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME 会夸大 SLYV 的业绩吗？当然，考虑到其四位数的增益。但看看 SLYG 的投资组合很有趣。游戏驿站股票也是成长型股票 ETF 中持有量最大的股票，尽管前 10 名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前 10 名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy 上涨 130%，在前 10 名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对实力评级为 97，这意味着它在所有股票中排名前 3%。其相对强弱线处于 52 周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票 Bed Bath &amp; Beyond 今年上涨了 78%。1 月份，股价飙升超过 200%，出现了一系列两位数的剧烈波动。BBBY 股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又回到了 WallStreetBets 讨论组的视线中。6 月 2 日，Bed Bath &amp; Beyond 飙升 62%，然后在接下来的交易日暴跌 28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>前 10 名股票的其余表现也优于大盘。梅西百货今年迄今已上涨 68%，而 Resideo、Pacific Premier 和 Ameris 的股价均上涨超过 40%。涨幅最低的银行控股公司 First Hawaiian 上涨了 20%。截至周四收盘，标普500上涨 13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据 MarketSmithChart 分析，SLYV 仍处于带手柄的 acup 的潜在买入区间，为 87.29。 SLYV 和 SLYG 收取 0.15% 的费用率。</blockquote></p><p></p>","source":"lsy1610449120050","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 Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme 股票飙升 1,000%，领跑这两只顶级小盘股</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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 Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme 股票飙升 1,000%，领跑这两只顶级小盘股</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investors</strong><span class=\"h-time small\">2021-06-13 06:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是 SPDR S&amp;P 600 小盘股价值的最大持股，但这并不是该 ETF 击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值 42 亿美元的价值基金追踪标准普尔小型股 600 价值指数 (SLYV)，该指数由基于账面市盈率、市盈率和销售率的最强价值特征的股票组成。截至周四收盘，SLYV 今年上涨了 32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这比其成长型股票 SPDR S&amp;P 600 Small Cap Growth (SLYG) 的回报率增加了一倍多，后者上涨了 15%。SLYG 跟踪的指数包括基于销售增长、盈利对价格和势头的变化而具有最强增长特征的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到 SLYV，金融业占该行业权重最大，占资产的 24%。工业约占17%，非必需消费品15%，房地产10%。信息技术紧随其后，占8%，材料、能源和医疗保健各占6%。消费品、公用事业和通信服务等较小的头寸占其余头寸。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 小盘股价值位居 IBD ETF 领先地位，但 SPDR S&amp;P 600 小盘股增长并非如此。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>（米），<b>PDC能源</b>（PDCE），<b>Resideo技术公司</b>（雷齐）和<b>联合银行</b>（BKU）是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>床浴及其他</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一个夏威夷人</b>（FHB）和<b>洞察企业</b>（NSIT）跻身前10名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了很大的波动。今年早些时候，在 Reddit/WallStreetBets crowd.GME 引发的空头挤压反弹中，该股飙升约 2,500%。随后，GME 股票从 1 月 28 日的高点暴跌 92%，跌至 2 月中旬的低点。随后在接下来的三周内飙升了 805%，在接下来的两周内下降了 66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌 27%。即便如此，截至周四收盘，游戏驿站股价今年迄今已上涨 1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME 会夸大 SLYV 的业绩吗？当然，考虑到其四位数的增益。但看看 SLYG 的投资组合很有趣。游戏驿站股票也是成长型股票 ETF 中持有量最大的股票，尽管前 10 名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前 10 名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy 上涨 130%，在前 10 名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对实力评级为 97，这意味着它在所有股票中排名前 3%。其相对强弱线处于 52 周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票 Bed Bath &amp; Beyond 今年上涨了 78%。1 月份，股价飙升超过 200%，出现了一系列两位数的剧烈波动。BBBY 股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又回到了 WallStreetBets 讨论组的视线中。6 月 2 日，Bed Bath &amp; Beyond 飙升 62%，然后在接下来的交易日暴跌 28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>前 10 名股票的其余表现也优于大盘。梅西百货今年迄今已上涨 68%，而 Resideo、Pacific Premier 和 Ameris 的股价均上涨超过 40%。涨幅最低的银行控股公司 First Hawaiian 上涨了 20%。截至周四收盘，标普500上涨 13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据 MarketSmithChart 分析，SLYV 仍处于带手柄的 acup 的潜在买入区间，为 87.29。 SLYV 和 SLYG 收取 0.15% 的费用率。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220\">investors</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDCE":"PDC Energy"},"source_url":"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185020128","content_text":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.\nThe $4.2 billion value fund tracks the S&P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.\nThat more than doubles the return of its growth stock counterpart, SPDR S&P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.\nBack to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each. Smaller positions in consumer staples, utilities and communication services made up the rest.\nSPDR S&P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&P 600 Small Cap Growth is not.\nGameStop Stock Leads\nGameStop(GME),Macy's(M),PDC Energy(PDCE),Resideo Technologies(REZI) andBankUnited(BKU) were the top five holdings as of Wednesday.\nPacific Premier Bancorp(PPBI),Bed Bath & Beyond(BBBY),Ameris Bancorp(ABCB),First Hawaiian(FHB) andInsight Enterprises(NSIT) rounded out the top 10.\nGameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.\nAction had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.\nCould GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.\nSecond Meme Stock In Top 10\nPDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.\nBed Bath & Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.\nBut the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath & Beyond soared 62% before diving 28% the next session.\nThe rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&P 500 held a 13% gain through Thursday's close.\nSLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis. SLYV and SLYG charge a 0.15% expense ratio.","news_type":1,"symbols_score_info":{"PDCE":0.9,"BBBY":0.9}},"isVote":1,"tweetType":1,"viewCount":3792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186555502,"gmtCreate":1623513967506,"gmtModify":1631884569291,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186555502","repostId":"2142112788","repostType":4,"isVote":1,"tweetType":1,"viewCount":2560,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186226283,"gmtCreate":1623503626742,"gmtModify":1631884569306,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/186226283","repostId":"2142204074","repostType":4,"isVote":1,"tweetType":1,"viewCount":2695,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188968114,"gmtCreate":1623419624838,"gmtModify":1631884569314,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/188968114","repostId":"1147556990","repostType":4,"isVote":1,"tweetType":1,"viewCount":2528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188984366,"gmtCreate":1623419473555,"gmtModify":1631884569329,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/188984366","repostId":"1113838701","repostType":4,"repost":{"id":"1113838701","kind":"news","pubTimestamp":1623403425,"share":"https://www.laohunote.com/m/news/1113838701?lang=zh_CN&edition=full","pubTime":"2021-06-11 17:23","market":"us","language":"en","title":"Palantir: A Dilution Adjusted Value<blockquote>Palantir：稀释调整值</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1113838701","media":"seekingalpha","summary":"Palantir is a high-growth company that operates worldwide in both commercial and government segments.It has a powerful A.I.  technology, however, having an A.I. seems to become a buzzword to justify skyrocket valuations.I initiate Palantir with a Bearish rating and a fair price of $14.45/share.Founded in 2003, Palantir  started building a software platform for the intelligence community and later expanded to the commercial space. To this mean, two principal software platforms have been developed","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir is a high-growth company that operates worldwide in both commercial and government segments.</li>  <li>It has a powerful A.I. (Cognitive Computing) technology, however, having an A.I. seems to become a buzzword to justify skyrocket valuations.</li>  <li>I initiate Palantir with a Bearish rating and a fair price of $14.45/share.</li> </ul> <b>Company Overview</b></p><p><blockquote><ul><li>Palantir是一家高增长的公司，在全球商业和政府领域都有业务。</li><li>它拥有强大的人工智能（认知计算）技术，然而，拥有人工智能似乎已成为证明估值飙升的流行语。</li><li>我对 Palantir 给予看跌评级，公允价格为每股 14.45 美元。</li></ul><b>公司概况</b></blockquote></p><p> Founded in 2003, Palantir (PLTR) started building a software platform for the intelligence community and later expanded to the commercial space. To this mean, two principal software platforms have been developed, Palantir Gotham and Palantir Foundry. Both serve as a central operating system and enable customers to integrate their data and operations.</p><p><blockquote>Palantir (PLTR) 成立于 2003 年，开始为情报界构建软件平台，后来扩展到商业领域。为此，已经开发了两个主要的软件平台，Palantir Gotham和Palantir Foundry。两者都充当中央操作系统，使客户能够集成他们的数据和操作。</blockquote></p><p> <ol>  <li>Gotham is a platform constructedprimarily for analysts at defense and intelligence agencies. Gotham enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants. The Gotham platform can also be used by commercial customers (e.g., by the financial services industry in connection with fraud investigations).</li>  <li>Foundry is a platform used by organizations (e.g., Airbus (OTCPK:EADSF)) to manage a big amount of data involved in complex projects. It transforms the ways organizations operate by creating a central operating system for their data. Individual users can integrate and analyze the data they need in one place. The speed with which users can experiment and test new ideas is what makes the software stick.</li>  <li>Apollo is a delivery software that powers Foundry and Gotham platforms and enables them to run in any environment. Apollo aims to provide the latest features in the hands of customers without disrupting operations.</li> </ol> The company operates worldwide and in particular in the U.S., U.K., France, and other parts of the world. Below I display its revenue breakdown by segment and by geography.</p><p><blockquote><ol><li>哥谭是一个主要为国防和情报机构的分析师构建的平台。Gotham使用户能够识别隐藏在数据集深处的模式，从信号情报来源到机密线人的报告。Gotham平台也可供商业客户使用（例如，金融服务行业在欺诈调查中使用）。</li><li>Foundry是组织（例如空中客车公司（OTCPK：EADSF））用来管理复杂项目中涉及的大量数据的平台。它通过为组织的数据创建一个中央操作系统来改变组织的运营方式。个人用户可以在一个地方集成和分析他们需要的数据。用户实验和测试新想法的速度是该软件坚持下去的原因。</li><li>Apollo是一款交付软件，为Foundry和Gotham平台提供支持，并使它们能够在任何环境中运行。Apollo的目标是在不中断运营的情况下，将最新的功能提供到客户手中。</li></ol>该公司在全球开展业务，尤其是在美国、英国、法国和世界其他地区。下面我显示了按细分市场和地理位置划分的收入明细。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9d03eb66b96b4d77da5936226da87d10\" tg-width=\"640\" tg-height=\"238\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source:<i>Author's Estimates using data from the latest10-K report</i></p><p><blockquote>来源：<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p> Using the trailing twelve-month numbers, we can see that the government segment accounts for 58% (vs. 42% in 2018A) of Palantir's total revenue, while the commercial segment 48%(vs. 57% in 2018A).</p><p><blockquote>使用过去 12 个月的数据，我们可以看到政府部门占 Palantir 总收入的 58%（2018 年为 42%），而商业部门占 48%（2018 年为 57%）。</blockquote></p><p> <b>Company Analysis</b></p><p><blockquote><b>公司分析</b></blockquote></p><p> I initiate Palantir with a Bearish rating and a fair price of $14.45/share (vs. current price of $24.38/share). As we all know the discounted cash flow model is a valuable tool to assess a company's fair value, however, to be able to implement it we need to make a lot of assumptions. One of those assumptions we have to make is about the company's future growth. But how can we assess the company's future growth? There are different ways in which we accomplish this, but any of this is \"the one.\"</p><p><blockquote>我对 Palantir 给予看跌评级，公允价格为每股 14.45 美元（当前价格为每股 24.38 美元）。众所周知，贴现现金流模型是评估公司公允价值的宝贵工具，然而，为了能够实施它，我们需要做出很多假设。我们必须做出的假设之一是关于公司未来的增长。但我们如何评估公司未来的增长呢？我们有不同的方法来实现这一点，但其中任何一种都是“唯一的”。</blockquote></p><p> Usually, the first step we want to take is to assess whether the company possesses a sustainable economic moat. A sustainable economic moat is what distinguishes a leader from a laggard, and it tells us what kind of margin of safety we should require on the stock. The absence of an economic moat translates into a higher margin of safety. It is not an easy task to assess whether the company has one and different approaches can be used. In this case, I would like to do it by analyzing the company's free cash flow, margins, and return on equity. Below, I display the key indicators we need.</p><p><blockquote>通常，我们要采取的第一步是评估公司是否拥有可持续的经济护城河。可持续的经济护城河是区分领导者和落后者的关键，它告诉我们应该对股票要求什么样的安全边际。没有经济护城河意味着更高的安全边际。评估一家公司是否有一种不同的方法并不是一件容易的事情。在这种情况下，我想通过分析公司的自由现金流、利润率和股本回报率来实现这一点。下面，我展示了我们需要的关键指标。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ab3592c45dd11931534a65c171b42df2\" tg-width=\"640\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source:<i>Author's Estimates using data from the latest 10-K report</i></p><p><blockquote>来源：<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p> From the numbers displayed above, you can immediately point out that something is not going in the right way. The gross margin (or production profitability) is fine and it is equal at 69.9% 2021TTM, however, the operating margin is not fine at all, and it is equal to -101.1% (we can observe the same picture looking at the net margin). In fact, if we look at the operating expenses as a % of revenues, we can find that this number is equal to 171%. Below I display the results.</p><p><blockquote>从上面显示的数字中，你可以立即指出事情没有朝着正确的方向发展。毛利率（或生产盈利能力）很好，等于69.9% 2021TTM，然而，营业利润率一点也不好，等于-101.1%（我们可以从净利润率观察到同样的情况）。事实上，如果我们把运营费用看作收入的百分比，我们可以发现这个数字等于171%。下面我显示结果。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cb6af16f471180179056796c4f30820d\" tg-width=\"544\" tg-height=\"117\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source<i>Author's Estimates using data from the latest 10-K report</i></p><p><blockquote>来源<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p></p><p> Next, as we can expect from these numbers, ROE is a negative number. A negative ROE tells us that the company is destroying value to its shareholders. What about free cash flow margin? We can observe, more or less, the same pattern as with operating margins. Further, by looking at the cash flow statement deeper we can find out a very clear pattern - the company brings in cash by issuing every year more shares. It is usually seen as a red flag when looking at the company cash flow statement we find out that the primary pump for the company's cash flow is not the cash flow from operating activities. Overall, any of these metrics seem to suggest that a company has a sustainable economic moat.</p><p><blockquote>接下来，正如我们从这些数字中可以预期的那样，净资产收益率是一个负数。负净资产收益率告诉我们，该公司正在破坏股东的价值。自由现金流保证金呢？我们可以观察到或多或少与营业利润率相同的模式。此外，通过更深入地研究现金流量表，我们可以发现一个非常明显的模式——公司通过每年发行更多股票来带来现金。当查看公司现金流量表时，我们发现公司现金流的主要来源不是经营活动的现金流，这通常被视为一个危险信号。总体而言，这些指标中的任何一个似乎都表明一家公司拥有可持续的经济护城河。</blockquote></p><p> <b>Discounted Cash Flow Model</b></p><p><blockquote><b>贴现现金流量模型</b></blockquote></p><p> Now, let's turn to the discounted cash flow valuation part. Below, you can see the results with the relative assumptions I have made.</p><p><blockquote>现在，让我们转向贴现现金流估值部分。下面，你可以看到我所做的相对假设的结果。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/dfe7d504567011f28eb91b3e31fe1cd8\" tg-width=\"640\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source:<i>Author's Estimates using data from the latest 10-K report</i></p><p><blockquote>来源：<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p> In the discounted cash flow model I used as the base year numbers the trailing twelve months numbers. For the top line (revenues), I assumed a growth rate of 49% for the next year, in line with the current revenue growth pattern and the new unfolding opportunities. For the Y2-Y5, I assumed a CAGR of 30%, this is what I believe is a reasonable growth rate. I allow the company to grow with a sales to capital ratio of 1.02 (90th percentile vs peers) and with a current WACC of 6.9%.</p><p><blockquote>在贴现现金流模型中，我使用过去12个月的数字作为基准年数字。对于营收（收入），我假设明年的增长率为 49%，符合当前的收入增长模式和新的机会。对于Y2-Y5，我假设CAGR为30%，这是我认为合理的增长率。我允许公司以 1.02 的销售资本比率（与同行相比的第 90 个百分位数）和 6.9% 的当前 WACC 增长。</blockquote></p><p> I assumed an operating margin for the next year equal to -67% and a target operating margin of 31.2% (85th percentile vs peers). If you are wondering who are the peers which I used to make my assumption, well, those are companies like Alteryx (AYX), Microsoft (MSFT), Oracle (ORCL), Datadog (DDOG), etc.</p><p><blockquote>我假设明年的营业利润率为-67%，目标营业利润率为31.2%（与同行相比为第85个百分位）。如果您想知道我曾经做出假设的同行是谁，那么，这些公司是 Alteryx (AYX)、微软 (MSFT)、甲骨文 (ORCL)、Datadog (DDOG) 等公司。</blockquote></p><p> A lot of investors seem to believe that there is a hidden value in Palantir and they put unrealistic assumptions to justify their findings. Even if there may be one, the dilution effect is keeping the stock from going higher. Investors don't seem to understand this and the company rides the wave by issuing more shares at an unjustified price.</p><p><blockquote>许多投资者似乎相信 Palantir 具有隐藏的价值，他们做出不切实际的假设来证明他们的发现是合理的。即使可能有，稀释效应也阻止了股票走高。投资者似乎不明白这一点，该公司乘风破浪，以不合理的价格发行更多股票。</blockquote></p><p> The central value ($7.34/share) that you can see in my sensitivity analysis is what I found as a fair value using my DCF model, while the prices in the green area are prices that may be justified (even if it is hard to assume such a high CAGR, perhaps unrealistic). The sensitivity analysis is intentionally skewed to the right since there are more bulls than bears in the room.</p><p><blockquote>你可以在我的敏感性分析中看到的中心价值（7.34美元/股）是我使用DCF模型发现的公允价值，而绿色区域的价格是可能合理的价格（即使很难假设如此高的CAGR，也许是不现实的）。敏感性分析故意向右倾斜，因为房间里的多头多于空头。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/689c747c7d01668b6d6978063ee0ce3f\" tg-width=\"640\" tg-height=\"227\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source:<i>Author's Estimates using data from the latest 10-K report</i></p><p><blockquote>来源：<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p> Using my assumptions, I found that the fair value for the company according to the DCF model is $7.34/share. Now you may say, this is not the same fair value I stated at the beginning. Totally right, you caught me. The fair value that I assign to the company is equal to $14.45/share which is an algorithm-based estimate which accounts for different factors, among others: DCF-based fair value, momentum, etc.</p><p><blockquote>根据我的假设，我发现根据DCF模型，该公司的公允价值为7.34美元/股。现在你可能会说，这不是我一开始陈述的公允价值。完全正确，你抓到我了。我分配给公司的公允价值等于14.45美元/股，这是一个基于算法的估计，考虑了不同的因素，包括：基于DCF的公允价值、动量等。</blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Palantir is a high-growth company that operates worldwide in both commercial and government segments. It has a powerful A.I. (Cognitive Computing) technology, however, having an A.I. seems to become a buzzword to justify skyrocket valuations. The company seems to understand it and it rides the wave by diluting shareholders' equity. I don't like to see such moves from the company, and even if the company may offer some price appreciation, the risk is not worth the bet (unless you like gambling, do you?).</p><p><blockquote>Palantir是一家高增长的公司，在全球商业和政府领域都有业务。它拥有强大的人工智能（认知计算）技术，然而，拥有人工智能似乎已成为证明估值飙升的流行语。该公司似乎明白这一点，并通过稀释股东权益来乘风破浪。我不喜欢看到公司这样的举动，即使公司可能会提供一些价格升值，风险也不值得赌（除非你喜欢赌博，不是吗？）.</blockquote></p><p></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>Palantir: A Dilution Adjusted Value<blockquote>Palantir：稀释调整值</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nPalantir: A Dilution Adjusted Value<blockquote>Palantir：稀释调整值</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-11 17:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir is a high-growth company that operates worldwide in both commercial and government segments.</li>  <li>It has a powerful A.I. (Cognitive Computing) technology, however, having an A.I. seems to become a buzzword to justify skyrocket valuations.</li>  <li>I initiate Palantir with a Bearish rating and a fair price of $14.45/share.</li> </ul> <b>Company Overview</b></p><p><blockquote><ul><li>Palantir是一家高增长的公司，在全球商业和政府领域都有业务。</li><li>它拥有强大的人工智能（认知计算）技术，然而，拥有人工智能似乎已成为证明估值飙升的流行语。</li><li>我对 Palantir 给予看跌评级，公允价格为每股 14.45 美元。</li></ul><b>公司概况</b></blockquote></p><p> Founded in 2003, Palantir (PLTR) started building a software platform for the intelligence community and later expanded to the commercial space. To this mean, two principal software platforms have been developed, Palantir Gotham and Palantir Foundry. Both serve as a central operating system and enable customers to integrate their data and operations.</p><p><blockquote>Palantir (PLTR) 成立于 2003 年，开始为情报界构建软件平台，后来扩展到商业领域。为此，已经开发了两个主要的软件平台，Palantir Gotham和Palantir Foundry。两者都充当中央操作系统，使客户能够集成他们的数据和操作。</blockquote></p><p> <ol>  <li>Gotham is a platform constructedprimarily for analysts at defense and intelligence agencies. Gotham enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants. The Gotham platform can also be used by commercial customers (e.g., by the financial services industry in connection with fraud investigations).</li>  <li>Foundry is a platform used by organizations (e.g., Airbus (OTCPK:EADSF)) to manage a big amount of data involved in complex projects. It transforms the ways organizations operate by creating a central operating system for their data. Individual users can integrate and analyze the data they need in one place. The speed with which users can experiment and test new ideas is what makes the software stick.</li>  <li>Apollo is a delivery software that powers Foundry and Gotham platforms and enables them to run in any environment. Apollo aims to provide the latest features in the hands of customers without disrupting operations.</li> </ol> The company operates worldwide and in particular in the U.S., U.K., France, and other parts of the world. Below I display its revenue breakdown by segment and by geography.</p><p><blockquote><ol><li>哥谭是一个主要为国防和情报机构的分析师构建的平台。Gotham使用户能够识别隐藏在数据集深处的模式，从信号情报来源到机密线人的报告。Gotham平台也可供商业客户使用（例如，金融服务行业在欺诈调查中使用）。</li><li>Foundry是组织（例如空中客车公司（OTCPK：EADSF））用来管理复杂项目中涉及的大量数据的平台。它通过为组织的数据创建一个中央操作系统来改变组织的运营方式。个人用户可以在一个地方集成和分析他们需要的数据。用户实验和测试新想法的速度是该软件坚持下去的原因。</li><li>Apollo是一款交付软件，为Foundry和Gotham平台提供支持，并使它们能够在任何环境中运行。Apollo的目标是在不中断运营的情况下，将最新的功能提供到客户手中。</li></ol>该公司在全球开展业务，尤其是在美国、英国、法国和世界其他地区。下面我显示了按细分市场和地理位置划分的收入明细。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9d03eb66b96b4d77da5936226da87d10\" tg-width=\"640\" tg-height=\"238\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source:<i>Author's Estimates using data from the latest10-K report</i></p><p><blockquote>来源：<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p> Using the trailing twelve-month numbers, we can see that the government segment accounts for 58% (vs. 42% in 2018A) of Palantir's total revenue, while the commercial segment 48%(vs. 57% in 2018A).</p><p><blockquote>使用过去 12 个月的数据，我们可以看到政府部门占 Palantir 总收入的 58%（2018 年为 42%），而商业部门占 48%（2018 年为 57%）。</blockquote></p><p> <b>Company Analysis</b></p><p><blockquote><b>公司分析</b></blockquote></p><p> I initiate Palantir with a Bearish rating and a fair price of $14.45/share (vs. current price of $24.38/share). As we all know the discounted cash flow model is a valuable tool to assess a company's fair value, however, to be able to implement it we need to make a lot of assumptions. One of those assumptions we have to make is about the company's future growth. But how can we assess the company's future growth? There are different ways in which we accomplish this, but any of this is \"the one.\"</p><p><blockquote>我对 Palantir 给予看跌评级，公允价格为每股 14.45 美元（当前价格为每股 24.38 美元）。众所周知，贴现现金流模型是评估公司公允价值的宝贵工具，然而，为了能够实施它，我们需要做出很多假设。我们必须做出的假设之一是关于公司未来的增长。但我们如何评估公司未来的增长呢？我们有不同的方法来实现这一点，但其中任何一种都是“唯一的”。</blockquote></p><p> Usually, the first step we want to take is to assess whether the company possesses a sustainable economic moat. A sustainable economic moat is what distinguishes a leader from a laggard, and it tells us what kind of margin of safety we should require on the stock. The absence of an economic moat translates into a higher margin of safety. It is not an easy task to assess whether the company has one and different approaches can be used. In this case, I would like to do it by analyzing the company's free cash flow, margins, and return on equity. Below, I display the key indicators we need.</p><p><blockquote>通常，我们要采取的第一步是评估公司是否拥有可持续的经济护城河。可持续的经济护城河是区分领导者和落后者的关键，它告诉我们应该对股票要求什么样的安全边际。没有经济护城河意味着更高的安全边际。评估一家公司是否有一种不同的方法并不是一件容易的事情。在这种情况下，我想通过分析公司的自由现金流、利润率和股本回报率来实现这一点。下面，我展示了我们需要的关键指标。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ab3592c45dd11931534a65c171b42df2\" tg-width=\"640\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source:<i>Author's Estimates using data from the latest 10-K report</i></p><p><blockquote>来源：<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p> From the numbers displayed above, you can immediately point out that something is not going in the right way. The gross margin (or production profitability) is fine and it is equal at 69.9% 2021TTM, however, the operating margin is not fine at all, and it is equal to -101.1% (we can observe the same picture looking at the net margin). In fact, if we look at the operating expenses as a % of revenues, we can find that this number is equal to 171%. Below I display the results.</p><p><blockquote>从上面显示的数字中，你可以立即指出事情没有朝着正确的方向发展。毛利率（或生产盈利能力）很好，等于69.9% 2021TTM，然而，营业利润率一点也不好，等于-101.1%（我们可以从净利润率观察到同样的情况）。事实上，如果我们把运营费用看作收入的百分比，我们可以发现这个数字等于171%。下面我显示结果。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cb6af16f471180179056796c4f30820d\" tg-width=\"544\" tg-height=\"117\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source<i>Author's Estimates using data from the latest 10-K report</i></p><p><blockquote>来源<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p></p><p> Next, as we can expect from these numbers, ROE is a negative number. A negative ROE tells us that the company is destroying value to its shareholders. What about free cash flow margin? We can observe, more or less, the same pattern as with operating margins. Further, by looking at the cash flow statement deeper we can find out a very clear pattern - the company brings in cash by issuing every year more shares. It is usually seen as a red flag when looking at the company cash flow statement we find out that the primary pump for the company's cash flow is not the cash flow from operating activities. Overall, any of these metrics seem to suggest that a company has a sustainable economic moat.</p><p><blockquote>接下来，正如我们从这些数字中可以预期的那样，净资产收益率是一个负数。负净资产收益率告诉我们，该公司正在破坏股东的价值。自由现金流保证金呢？我们可以观察到或多或少与营业利润率相同的模式。此外，通过更深入地研究现金流量表，我们可以发现一个非常明显的模式——公司通过每年发行更多股票来带来现金。当查看公司现金流量表时，我们发现公司现金流的主要来源不是经营活动的现金流，这通常被视为一个危险信号。总体而言，这些指标中的任何一个似乎都表明一家公司拥有可持续的经济护城河。</blockquote></p><p> <b>Discounted Cash Flow Model</b></p><p><blockquote><b>贴现现金流量模型</b></blockquote></p><p> Now, let's turn to the discounted cash flow valuation part. Below, you can see the results with the relative assumptions I have made.</p><p><blockquote>现在，让我们转向贴现现金流估值部分。下面，你可以看到我所做的相对假设的结果。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/dfe7d504567011f28eb91b3e31fe1cd8\" tg-width=\"640\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source:<i>Author's Estimates using data from the latest 10-K report</i></p><p><blockquote>来源：<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p> In the discounted cash flow model I used as the base year numbers the trailing twelve months numbers. For the top line (revenues), I assumed a growth rate of 49% for the next year, in line with the current revenue growth pattern and the new unfolding opportunities. For the Y2-Y5, I assumed a CAGR of 30%, this is what I believe is a reasonable growth rate. I allow the company to grow with a sales to capital ratio of 1.02 (90th percentile vs peers) and with a current WACC of 6.9%.</p><p><blockquote>在贴现现金流模型中，我使用过去12个月的数字作为基准年数字。对于营收（收入），我假设明年的增长率为 49%，符合当前的收入增长模式和新的机会。对于Y2-Y5，我假设CAGR为30%，这是我认为合理的增长率。我允许公司以 1.02 的销售资本比率（与同行相比的第 90 个百分位数）和 6.9% 的当前 WACC 增长。</blockquote></p><p> I assumed an operating margin for the next year equal to -67% and a target operating margin of 31.2% (85th percentile vs peers). If you are wondering who are the peers which I used to make my assumption, well, those are companies like Alteryx (AYX), Microsoft (MSFT), Oracle (ORCL), Datadog (DDOG), etc.</p><p><blockquote>我假设明年的营业利润率为-67%，目标营业利润率为31.2%（与同行相比为第85个百分位）。如果您想知道我曾经做出假设的同行是谁，那么，这些公司是 Alteryx (AYX)、微软 (MSFT)、甲骨文 (ORCL)、Datadog (DDOG) 等公司。</blockquote></p><p> A lot of investors seem to believe that there is a hidden value in Palantir and they put unrealistic assumptions to justify their findings. Even if there may be one, the dilution effect is keeping the stock from going higher. Investors don't seem to understand this and the company rides the wave by issuing more shares at an unjustified price.</p><p><blockquote>许多投资者似乎相信 Palantir 具有隐藏的价值，他们做出不切实际的假设来证明他们的发现是合理的。即使可能有，稀释效应也阻止了股票走高。投资者似乎不明白这一点，该公司乘风破浪，以不合理的价格发行更多股票。</blockquote></p><p> The central value ($7.34/share) that you can see in my sensitivity analysis is what I found as a fair value using my DCF model, while the prices in the green area are prices that may be justified (even if it is hard to assume such a high CAGR, perhaps unrealistic). The sensitivity analysis is intentionally skewed to the right since there are more bulls than bears in the room.</p><p><blockquote>你可以在我的敏感性分析中看到的中心价值（7.34美元/股）是我使用DCF模型发现的公允价值，而绿色区域的价格是可能合理的价格（即使很难假设如此高的CAGR，也许是不现实的）。敏感性分析故意向右倾斜，因为房间里的多头多于空头。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/689c747c7d01668b6d6978063ee0ce3f\" tg-width=\"640\" tg-height=\"227\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source:<i>Author's Estimates using data from the latest 10-K report</i></p><p><blockquote>来源：<i>作者使用最新 10-K 报告数据进行的估计</i></blockquote></p><p> Using my assumptions, I found that the fair value for the company according to the DCF model is $7.34/share. Now you may say, this is not the same fair value I stated at the beginning. Totally right, you caught me. The fair value that I assign to the company is equal to $14.45/share which is an algorithm-based estimate which accounts for different factors, among others: DCF-based fair value, momentum, etc.</p><p><blockquote>根据我的假设，我发现根据DCF模型，该公司的公允价值为7.34美元/股。现在你可能会说，这不是我一开始陈述的公允价值。完全正确，你抓到我了。我分配给公司的公允价值等于14.45美元/股，这是一个基于算法的估计，考虑了不同的因素，包括：基于DCF的公允价值、动量等。</blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Palantir is a high-growth company that operates worldwide in both commercial and government segments. It has a powerful A.I. (Cognitive Computing) technology, however, having an A.I. seems to become a buzzword to justify skyrocket valuations. The company seems to understand it and it rides the wave by diluting shareholders' equity. I don't like to see such moves from the company, and even if the company may offer some price appreciation, the risk is not worth the bet (unless you like gambling, do you?).</p><p><blockquote>Palantir是一家高增长的公司，在全球商业和政府领域都有业务。它拥有强大的人工智能（认知计算）技术，然而，拥有人工智能似乎已成为证明估值飙升的流行语。该公司似乎明白这一点，并通过稀释股东权益来乘风破浪。我不喜欢看到公司这样的举动，即使公司可能会提供一些价格升值，风险也不值得赌（除非你喜欢赌博，不是吗？）.</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4434192-palantir-a-dilution-adjusted-value\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4434192-palantir-a-dilution-adjusted-value","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113838701","content_text":"Summary\n\nPalantir is a high-growth company that operates worldwide in both commercial and government segments.\nIt has a powerful A.I. (Cognitive Computing) technology, however, having an A.I. seems to become a buzzword to justify skyrocket valuations.\nI initiate Palantir with a Bearish rating and a fair price of $14.45/share.\n\nCompany Overview\nFounded in 2003, Palantir (PLTR) started building a software platform for the intelligence community and later expanded to the commercial space. To this mean, two principal software platforms have been developed, Palantir Gotham and Palantir Foundry. Both serve as a central operating system and enable customers to integrate their data and operations.\n\nGotham is a platform constructedprimarily for analysts at defense and intelligence agencies. Gotham enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants. The Gotham platform can also be used by commercial customers (e.g., by the financial services industry in connection with fraud investigations).\nFoundry is a platform used by organizations (e.g., Airbus (OTCPK:EADSF)) to manage a big amount of data involved in complex projects. It transforms the ways organizations operate by creating a central operating system for their data. Individual users can integrate and analyze the data they need in one place. The speed with which users can experiment and test new ideas is what makes the software stick.\nApollo is a delivery software that powers Foundry and Gotham platforms and enables them to run in any environment. Apollo aims to provide the latest features in the hands of customers without disrupting operations.\n\nThe company operates worldwide and in particular in the U.S., U.K., France, and other parts of the world. Below I display its revenue breakdown by segment and by geography.\n\nSource:Author's Estimates using data from the latest10-K report\nUsing the trailing twelve-month numbers, we can see that the government segment accounts for 58% (vs. 42% in 2018A) of Palantir's total revenue, while the commercial segment 48%(vs. 57% in 2018A).\nCompany Analysis\nI initiate Palantir with a Bearish rating and a fair price of $14.45/share (vs. current price of $24.38/share). As we all know the discounted cash flow model is a valuable tool to assess a company's fair value, however, to be able to implement it we need to make a lot of assumptions. One of those assumptions we have to make is about the company's future growth. But how can we assess the company's future growth? There are different ways in which we accomplish this, but any of this is \"the one.\"\nUsually, the first step we want to take is to assess whether the company possesses a sustainable economic moat. A sustainable economic moat is what distinguishes a leader from a laggard, and it tells us what kind of margin of safety we should require on the stock. The absence of an economic moat translates into a higher margin of safety. It is not an easy task to assess whether the company has one and different approaches can be used. In this case, I would like to do it by analyzing the company's free cash flow, margins, and return on equity. Below, I display the key indicators we need.\n\nSource:Author's Estimates using data from the latest 10-K report\nFrom the numbers displayed above, you can immediately point out that something is not going in the right way. The gross margin (or production profitability) is fine and it is equal at 69.9% 2021TTM, however, the operating margin is not fine at all, and it is equal to -101.1% (we can observe the same picture looking at the net margin). In fact, if we look at the operating expenses as a % of revenues, we can find that this number is equal to 171%. Below I display the results.\n\nSourceAuthor's Estimates using data from the latest 10-K report\nNext, as we can expect from these numbers, ROE is a negative number. A negative ROE tells us that the company is destroying value to its shareholders. What about free cash flow margin? We can observe, more or less, the same pattern as with operating margins. Further, by looking at the cash flow statement deeper we can find out a very clear pattern - the company brings in cash by issuing every year more shares. It is usually seen as a red flag when looking at the company cash flow statement we find out that the primary pump for the company's cash flow is not the cash flow from operating activities. Overall, any of these metrics seem to suggest that a company has a sustainable economic moat.\nDiscounted Cash Flow Model\nNow, let's turn to the discounted cash flow valuation part. Below, you can see the results with the relative assumptions I have made.\n\nSource:Author's Estimates using data from the latest 10-K report\nIn the discounted cash flow model I used as the base year numbers the trailing twelve months numbers. For the top line (revenues), I assumed a growth rate of 49% for the next year, in line with the current revenue growth pattern and the new unfolding opportunities. For the Y2-Y5, I assumed a CAGR of 30%, this is what I believe is a reasonable growth rate. I allow the company to grow with a sales to capital ratio of 1.02 (90th percentile vs peers) and with a current WACC of 6.9%.\nI assumed an operating margin for the next year equal to -67% and a target operating margin of 31.2% (85th percentile vs peers). If you are wondering who are the peers which I used to make my assumption, well, those are companies like Alteryx (AYX), Microsoft (MSFT), Oracle (ORCL), Datadog (DDOG), etc.\nA lot of investors seem to believe that there is a hidden value in Palantir and they put unrealistic assumptions to justify their findings. Even if there may be one, the dilution effect is keeping the stock from going higher. Investors don't seem to understand this and the company rides the wave by issuing more shares at an unjustified price.\nThe central value ($7.34/share) that you can see in my sensitivity analysis is what I found as a fair value using my DCF model, while the prices in the green area are prices that may be justified (even if it is hard to assume such a high CAGR, perhaps unrealistic). The sensitivity analysis is intentionally skewed to the right since there are more bulls than bears in the room.\n\nSource:Author's Estimates using data from the latest 10-K report\nUsing my assumptions, I found that the fair value for the company according to the DCF model is $7.34/share. Now you may say, this is not the same fair value I stated at the beginning. Totally right, you caught me. The fair value that I assign to the company is equal to $14.45/share which is an algorithm-based estimate which accounts for different factors, among others: DCF-based fair value, momentum, etc.\nFinal Thoughts\nPalantir is a high-growth company that operates worldwide in both commercial and government segments. It has a powerful A.I. (Cognitive Computing) technology, however, having an A.I. seems to become a buzzword to justify skyrocket valuations. The company seems to understand it and it rides the wave by diluting shareholders' equity. I don't like to see such moves from the company, and even if the company may offer some price appreciation, the risk is not worth the bet (unless you like gambling, do you?).","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":3544,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188988461,"gmtCreate":1623419415853,"gmtModify":1631884569343,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/188988461","repostId":"1116807698","repostType":4,"isVote":1,"tweetType":1,"viewCount":3393,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188917629,"gmtCreate":1623419292761,"gmtModify":1631890126518,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/188917629","repostId":"1118478259","repostType":4,"isVote":1,"tweetType":1,"viewCount":1176,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181224147,"gmtCreate":1623397813089,"gmtModify":1631890126519,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181224147","repostId":"1118350585","repostType":4,"repost":{"id":"1118350585","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1623395610,"share":"https://www.laohunote.com/m/news/1118350585?lang=zh_CN&edition=full","pubTime":"2021-06-11 15:13","market":"us","language":"en","title":"Cathie Wood, Bullish On Bitcoin, Lifts Coinbase Stake Above $1B, Snaps Up More UiPath Shares<blockquote>Cathie Wood 看好比特币，将 Coinbase 持股增至 $1B 以上，并抢购更多 UiPath 股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118350585","media":"Benzinga Earnings","summary":"Cathie Wood-led Ark Investment Management on Thursday snapped up more shares inCoinbase Global Inc(N","content":"<p>Cathie Wood-led Ark Investment Management on Thursday snapped up more shares in<b>Coinbase Global Inc</b>(NASDAQ:COIN) on the dip on Thursday.</p><p><blockquote>凯西·伍德 (Cathie Wood) 领导的方舟投资管理公司 (Ark Investment Management) 周四抢购了更多股票<b>比特币基地全球公司</b>（纳斯达克股票代码：COIN）周四下跌。</blockquote></p><p> Ark Invest bought 60,813 shares, estimated to be worth about $13.5 million in Coinbase on the day shares of the company closed 1.1% lower at $221.85.</p><p><blockquote>Ark Invest 当天购买了 60,813 股 Coinbase 股票，估计价值约 1,350 万美元，该公司股价收盘下跌 1.1%，至 221.85 美元。</blockquote></p><p> Wood’s firm deployed the<b>Ark Innovation ETF</b>(NYSE:ARKK) to buy the shares of the cryptocurrency exchange. The investment firm also holds the shares of the company via the<b>Ark Next Generation Internet ETF</b>(NYSE:ARKW) and the<b>Ark Fintech Innovation ETF</b>(NYSE:ARKF).</p><p><blockquote>伍德的公司部署了<b>方舟创新ETF</b>（纽约证券交易所代码：ARKK）购买加密货币交易所的股票。投资公司亦透过<b>方舟下一代互联网ETF</b>（纽约证券交易所代码：ARKW）和<b>方舟金融科技创新ETF</b>（纽约证券交易所代码：ARKF）。</blockquote></p><p> Ark's COIN stake is currently valued above $1 billion. In comparison, Ark Invest holds&nbsp;about 4.86 million shares, worth about $2.9 billion, in<b>Tesla Inc</b>(NASDAQ:TSLA), its largest holding.</p><p><blockquote>方舟的硬币股份目前价值超过10亿美元。相比之下，方舟投资持有约 486 万股股票，价值约 29 亿美元<b>特斯拉公司</b>（纳斯达克股票代码：TSLA），其最大的持股。</blockquote></p><p> The investment firm also snapped up 1.08 million shares, estimated to be worth about $80.07 million in New York-based software automation company<b>UiPath Inc</b>(NYSE:PATH) on the day shares popped higher.</p><p><blockquote>该投资公司还抢购了这家总部位于纽约的软件自动化公司的 108 万股股票，估计价值约 8007 万美元<b>UiPath公司</b>（纽约证券交易所股票代码：PATH）当天股价飙升。</blockquote></p><p> Shares of the company closed 7.7% higher at $74.03 on Thursday.</p><p><blockquote>该公司股价周四收盘上涨 7.7%，至 74.03 美元。</blockquote></p><p> The investment firm holds the shares of the company in all six active ETFs but deployed only four of them — the<b>Ark Genomic Revolution ETF</b>(BATS:ARKG), the<b>Ark Autonomous Technology &amp; Robotics</b>(BATS:ARKQ)<b>,</b>ARKKand ARKW — to buy the shares on Thursday.</p><p><blockquote>该投资公司持有所有六只活跃 ETF 中的公司股票，但仅部署了其中四只——<b>方舟基因组革命 ETF</b>（蝙蝠：ARKG），<b>方舟自主技术与机器人</b>（蝙蝠：ARKQ）<b>,</b>ARKKand ARKW — 周四购买股票。</blockquote></p><p> ARKG bought 242,492 shares, ARKK bought 604,635 shares, ARKQ bought 87,472 shares, ARKW bought 147,038 shares on Thursday.</p><p><blockquote>周四，ARKG 购买了 242,492 股，ARKK 购买了 604,635 股，ARKQ 购买了 87,472 股，ARKW 购买了 147,038 股。</blockquote></p><p> On a consolidated basis, Ark held 7.38 million shares worth $506.8 million in UiPath, as of Thursday.</p><p><blockquote>截至周四，Ark 持有 UiPath 738 万股股票，价值 5.068 亿美元。</blockquote></p><p> The products of the Bucharest, Romania-basedsoftware companyare used by organizations to help efficiently automate their various business processes.</p><p><blockquote>这家总部位于罗马尼亚布加勒斯特的软件公司的产品被组织用来帮助他们有效地自动化各种业务流程。</blockquote></p><p> Some of the other key Ark Invest sells on Thursday include<b>Intercontinental Exchange Inc</b>(NYSE:ICE) and buys include<b>Pure Storage Inc</b>(NYSE:PSTG).</p><p><blockquote>周四出售的其他一些关键方舟投资包括<b>洲际交易所</b>（纽约证券交易所股票代码：ICE）和购买包括<b>纯存储公司</b>（纽约证券交易所代码：PSTG）。</blockquote></p><p></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>Cathie Wood, Bullish On Bitcoin, Lifts Coinbase Stake Above $1B, Snaps Up More UiPath Shares<blockquote>Cathie Wood 看好比特币，将 Coinbase 持股增至 $1B 以上，并抢购更多 UiPath 股票</blockquote></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; 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}\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: 12.5px; color: #7E829C; margin: 0;}\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\">\nCathie Wood, Bullish On Bitcoin, Lifts Coinbase Stake Above $1B, Snaps Up More UiPath Shares<blockquote>Cathie Wood 看好比特币，将 Coinbase 持股增至 $1B 以上，并抢购更多 UiPath 股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-06-11 15:13</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Cathie Wood-led Ark Investment Management on Thursday snapped up more shares in<b>Coinbase Global Inc</b>(NASDAQ:COIN) on the dip on Thursday.</p><p><blockquote>凯西·伍德 (Cathie Wood) 领导的方舟投资管理公司 (Ark Investment Management) 周四抢购了更多股票<b>比特币基地全球公司</b>（纳斯达克股票代码：COIN）周四下跌。</blockquote></p><p> Ark Invest bought 60,813 shares, estimated to be worth about $13.5 million in Coinbase on the day shares of the company closed 1.1% lower at $221.85.</p><p><blockquote>Ark Invest 当天购买了 60,813 股 Coinbase 股票，估计价值约 1,350 万美元，该公司股价收盘下跌 1.1%，至 221.85 美元。</blockquote></p><p> Wood’s firm deployed the<b>Ark Innovation ETF</b>(NYSE:ARKK) to buy the shares of the cryptocurrency exchange. The investment firm also holds the shares of the company via the<b>Ark Next Generation Internet ETF</b>(NYSE:ARKW) and the<b>Ark Fintech Innovation ETF</b>(NYSE:ARKF).</p><p><blockquote>伍德的公司部署了<b>方舟创新ETF</b>（纽约证券交易所代码：ARKK）购买加密货币交易所的股票。投资公司亦透过<b>方舟下一代互联网ETF</b>（纽约证券交易所代码：ARKW）和<b>方舟金融科技创新ETF</b>（纽约证券交易所代码：ARKF）。</blockquote></p><p> Ark's COIN stake is currently valued above $1 billion. In comparison, Ark Invest holds&nbsp;about 4.86 million shares, worth about $2.9 billion, in<b>Tesla Inc</b>(NASDAQ:TSLA), its largest holding.</p><p><blockquote>方舟的硬币股份目前价值超过10亿美元。相比之下，方舟投资持有约 486 万股股票，价值约 29 亿美元<b>特斯拉公司</b>（纳斯达克股票代码：TSLA），其最大的持股。</blockquote></p><p> The investment firm also snapped up 1.08 million shares, estimated to be worth about $80.07 million in New York-based software automation company<b>UiPath Inc</b>(NYSE:PATH) on the day shares popped higher.</p><p><blockquote>该投资公司还抢购了这家总部位于纽约的软件自动化公司的 108 万股股票，估计价值约 8007 万美元<b>UiPath公司</b>（纽约证券交易所股票代码：PATH）当天股价飙升。</blockquote></p><p> Shares of the company closed 7.7% higher at $74.03 on Thursday.</p><p><blockquote>该公司股价周四收盘上涨 7.7%，至 74.03 美元。</blockquote></p><p> The investment firm holds the shares of the company in all six active ETFs but deployed only four of them — the<b>Ark Genomic Revolution ETF</b>(BATS:ARKG), the<b>Ark Autonomous Technology &amp; Robotics</b>(BATS:ARKQ)<b>,</b>ARKKand ARKW — to buy the shares on Thursday.</p><p><blockquote>该投资公司持有所有六只活跃 ETF 中的公司股票，但仅部署了其中四只——<b>方舟基因组革命 ETF</b>（蝙蝠：ARKG），<b>方舟自主技术与机器人</b>（蝙蝠：ARKQ）<b>,</b>ARKKand ARKW — 周四购买股票。</blockquote></p><p> ARKG bought 242,492 shares, ARKK bought 604,635 shares, ARKQ bought 87,472 shares, ARKW bought 147,038 shares on Thursday.</p><p><blockquote>周四，ARKG 购买了 242,492 股，ARKK 购买了 604,635 股，ARKQ 购买了 87,472 股，ARKW 购买了 147,038 股。</blockquote></p><p> On a consolidated basis, Ark held 7.38 million shares worth $506.8 million in UiPath, as of Thursday.</p><p><blockquote>截至周四，Ark 持有 UiPath 738 万股股票，价值 5.068 亿美元。</blockquote></p><p> The products of the Bucharest, Romania-basedsoftware companyare used by organizations to help efficiently automate their various business processes.</p><p><blockquote>这家总部位于罗马尼亚布加勒斯特的软件公司的产品被组织用来帮助他们有效地自动化各种业务流程。</blockquote></p><p> Some of the other key Ark Invest sells on Thursday include<b>Intercontinental Exchange Inc</b>(NYSE:ICE) and buys include<b>Pure Storage Inc</b>(NYSE:PSTG).</p><p><blockquote>周四出售的其他一些关键方舟投资包括<b>洲际交易所</b>（纽约证券交易所股票代码：ICE）和购买包括<b>纯存储公司</b>（纽约证券交易所代码：PSTG）。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","PATH":"UiPath"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118350585","content_text":"Cathie Wood-led Ark Investment Management on Thursday snapped up more shares inCoinbase Global Inc(NASDAQ:COIN) on the dip on Thursday.\nArk Invest bought 60,813 shares, estimated to be worth about $13.5 million in Coinbase on the day shares of the company closed 1.1% lower at $221.85.\nWood’s firm deployed theArk Innovation ETF(NYSE:ARKK) to buy the shares of the cryptocurrency exchange. The investment firm also holds the shares of the company via theArk Next Generation Internet ETF(NYSE:ARKW) and theArk Fintech Innovation ETF(NYSE:ARKF).\nArk's COIN stake is currently valued above $1 billion. In comparison, Ark Invest holds about 4.86 million shares, worth about $2.9 billion, inTesla Inc(NASDAQ:TSLA), its largest holding.\nThe investment firm also snapped up 1.08 million shares, estimated to be worth about $80.07 million in New York-based software automation companyUiPath Inc(NYSE:PATH) on the day shares popped higher.\nShares of the company closed 7.7% higher at $74.03 on Thursday.\nThe investment firm holds the shares of the company in all six active ETFs but deployed only four of them — theArk Genomic Revolution ETF(BATS:ARKG), theArk Autonomous Technology & Robotics(BATS:ARKQ),ARKKand ARKW — to buy the shares on Thursday.\nARKG bought 242,492 shares, ARKK bought 604,635 shares, ARKQ bought 87,472 shares, ARKW bought 147,038 shares on Thursday.\nOn a consolidated basis, Ark held 7.38 million shares worth $506.8 million in UiPath, as of Thursday.\nThe products of the Bucharest, Romania-basedsoftware companyare used by organizations to help efficiently automate their various business processes.\nSome of the other key Ark Invest sells on Thursday includeIntercontinental Exchange Inc(NYSE:ICE) and buys includePure Storage Inc(NYSE:PSTG).","news_type":1,"symbols_score_info":{"COIN":0.9,"PATH":0.9}},"isVote":1,"tweetType":1,"viewCount":991,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183957103,"gmtCreate":1623303009302,"gmtModify":1631890126528,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/183957103","repostId":"1114854557","repostType":4,"isVote":1,"tweetType":1,"viewCount":1234,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180423960,"gmtCreate":1623221539150,"gmtModify":1631890126541,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/180423960","repostId":"1176918592","repostType":4,"isVote":1,"tweetType":1,"viewCount":1036,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117687566,"gmtCreate":1623138472855,"gmtModify":1631890126554,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/117687566","repostId":"1147768239","repostType":4,"isVote":1,"tweetType":1,"viewCount":1133,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115726568,"gmtCreate":1623031779154,"gmtModify":1631890126567,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/115726568","repostId":"2141926289","repostType":4,"isVote":1,"tweetType":1,"viewCount":1350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112646211,"gmtCreate":1622869007833,"gmtModify":1631890126581,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/112646211","repostId":"1162130057","repostType":4,"repost":{"id":"1162130057","kind":"news","pubTimestamp":1622862397,"share":"https://www.laohunote.com/m/news/1162130057?lang=zh_CN&edition=full","pubTime":"2021-06-05 11:06","market":"us","language":"en","title":"The S&P 500 would be below 1,600 without these 3 pillars and those supports are now weakening<blockquote>如果没有这三大支柱，标普500将低于 1,600，而这些支撑现在正在减弱</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162130057","media":"MarketWatch","summary":"Investors may need to consider private equity to capture the returns that publicly traded stocks hav","content":"<p>Investors may need to consider private equity to capture the returns that publicly traded stocks have provided</p><p><blockquote>投资者可能需要考虑私募股权来获取公开交易股票提供的回报</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ab21eb0dc365f342dd26c49af9020305\" tg-width=\"1260\" tg-height=\"840\"><span>GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>盖蒂图片社</span></p></blockquote></p><p> Stock prices can’t indefinitely grow faster than the economy. This provides a crucial reality check for U.S. stock-market bulls, many of whom believe stocks can continue outperforming the U.S. economy in perpetuity. Over the past decade, for example, the S&amp;P 500SPX,+0.88%on an inflation-adjusted total-return basis has outperformed real U.S. GDP by an annualized margin of 11.9% to 2.0%.</p><p><blockquote>股票价格的增长速度不可能永远超过经济增长速度。这为美国股市多头提供了一个至关重要的现实检验，他们中的许多人认为股市可以永远跑赢美国经济。例如，在过去十年中，标准普尔 500SPX（按通胀调整后的总回报率计算）+0.88% 的年化利润率优于美国实际 GDP，为 11.9% 至 2.0%。</blockquote></p><p> Going forward, it could be the other way around, according to an argument advanced some years ago by Robert Arnott, founder of&nbsp;Research Affiliates, and William Bernstein, co-principal at&nbsp;Efficient Frontier Advisors. They pointed out that a portion of economic growth is attributable to non-public companies, such as startups and the like — a category they refer to as “entrepreneurial capitalism.”</p><p><blockquote>根据 Research Affiliates 创始人罗伯特·阿诺特 (Robert Arnott) 和 Efficient Frontier Advisors 联席负责人威廉·伯恩斯坦 (William Bernstein) 几年前提出的论点，展望未来，情况可能会相反。他们指出，经济增长的一部分归功于非上市公司，如初创企业等--他们将这一类别称为 “创业资本主义”。</blockquote></p><p> By definition, economic growth that non-public companies generate will not show up in the stock market— which only reflects the performance of publicly traded corporations. Arnott and Bernstein estimate that share prices historically have grown about two annualized percentage points slower than the overall economy.</p><p><blockquote>根据定义，非上市公司产生的经济增长不会出现在股票市场上——股票市场只反映上市公司的业绩。阿诺特和伯恩斯坦估计，历史上股价的年化增长速度比整体经济慢约两个百分点。</blockquote></p><p> Such slippage has dire implications for the U.S. stock market’s future return. But I want to first discuss why the stock market’s stunning performance over the past decade was not due to economic growth. Instead, the bulk of that performance was due to three factors:</p><p><blockquote>这种下滑对美国股市未来的回报有着可怕的影响。但我想先讨论一下，为什么股市在过去十年中的惊人表现并不是因为经济增长。相反，这种表现的大部分归功于三个因素：</blockquote></p><p> <ul>  <li>Valuation changes: The S&amp;P 500’s price/earnings ratio has doubled over the past decade.</li>  <li>Increasing profit margins: The S&amp;P 500’s operating margin over the past four quarters has averaged nearly two percentage points higher than it was a decade ago, according to data from Howard Silverblatt, senior index analyst at S&amp;P Dow Jones Indices.</li>  <li>Net buybacks: Over the past decade corporations have repurchased more shares than new shares they have issued. This has reduced the number of shares outstanding, and increased earnings per share.</li> </ul> To appreciate the impact of these three factors, consider that the S&amp;P 500 now would trade below 1,600 if there had been no change at all over the past decade with each of these three dimensions. While the chance of such a perfect storm is so low that you might be inclined to dismiss it out of hand, Bernstein said in an interview that he wouldn’t discount the possibility.</p><p><blockquote><ul><li>估值变化： 标普500的市盈率在过去十年中翻了一番。</li><li>利润率不断提高： 根据标准普尔道琼斯指数高级指数分析师 Howard Silverblatt 的数据，标普500过去四个季度的营业利润率平均比十年前高出近两个百分点。</li><li>净回购：在过去十年中，公司回购的股票超过了他们发行的新股。这减少了流通股数量，并增加了每股收益。</li></ul>为了理解这三个因素的影响，请考虑一下，如果这三个维度在过去十年中没有任何变化，标普500现在的交易价格将低于 1,600 点。伯恩斯坦在接受采访时说，虽然发生这样一场完美风暴的可能性非常低，以至于你可能会倾向于不予理睬，但他不会排除这种可能性。</blockquote></p><p> <b>Projecting the future</b></p><p><blockquote><b>预测未来</b></blockquote></p><p> The picture this analysis paints about the U.S. stock market’s future isn’t pretty, assuming the U.S. economy grows at the same pace over the next decade as the last. In that case, the only way the market can produce annualized returns greater than the low single-digits is for the P/E ratio and profit margins to continue rising or for net buybacks to continue reducing the number of shares outstanding — or for some combination of these three factors to occur.</p><p><blockquote>假设美国经济在未来十年的增长速度与过去十年相同，那么这项分析对美国股市未来的描绘并不美好。在这种情况下，市场能够产生高于低个位数的年化回报的唯一方法是市盈率和利润率继续上升，或者净回购继续减少流通股数量——或者这三个因素的某种组合发生。</blockquote></p><p> More likely, these three tailwinds will become headwinds. P/E ratios&nbsp;already are at or near the high end of their historical distribution, and they can’t go up forever. Profit margins also are at or near record levels and,as I argued earlier this week, there are good reasons to expect those margins to decline in coming years. While it’s possible that buybacks will outpace share issuance in coming years, that’s hardly a sure bet. Over the past 12 months, for example, there have been negative net buybacks — i.e. more shares have been issued than repurchased. In fact, Arnott pointed out in an email, for most of U.S. stock market history net buybacks have been negative.</p><p><blockquote>更有可能的是，这三个顺风会变成逆风。市盈率已经处于或接近其历史分布的高端，而且不可能永远上升。利润率也处于或接近创纪录水平，正如我本周早些时候所说，有充分的理由预计这些利润率将在未来几年下降。虽然未来几年回购量有可能超过股票发行量，但这并不是板上钉钉的事。例如，在过去 12 个月中，出现了负净回购——即发行的股票多于回购的股票。事实上，阿诺特在一封电子邮件中指出，在美国股市历史上的大部分时间里，净回购都是负数。</blockquote></p><p> One can also wonder if an even-greater share of economic growth in coming years will accrue to non-public equity. Andrew Karolyi, dean of Cornell University’s SC Johnson College of Business, said in an interview that private equity now plays a much bigger role than in the past. One possible future, he said, is that the growth of the public stock market lags that of the overall economy by an increasing amount.</p><p><blockquote>人们还可能想知道，未来几年经济增长中是否会有更大的份额来自非公共股本。康奈尔大学圣约翰逊商学院院长安德鲁-卡罗利（Andrew Karolyi）在接受采访时表示，私募股权现在发挥的作用比过去大得多。他说，一个可能的未来是，公共股票市场的增长越来越滞后于整体经济的增长。</blockquote></p><p> One measure of the declining economic importance of the public corporation is the decreasing number of publicly traded companies, as reflected in the chart below. This decline has been overlooked by many on Wall Street, given their focus on the red-hot IPO market. But, as Karolyi pointed out, even as more companies are coming to market, there have also been an increasing number of delistings.</p><p><blockquote>上市公司经济重要性下降的一个衡量标准是上市公司数量的减少，如下图所示。鉴于华尔街许多人专注于炙手可热的 IPO 市场，这种下滑一直被他们忽视。但是，正如卡罗利指出的那样，即使越来越多的公司进入市场，也有越来越多的公司退市。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3de45fd68cb24b2bdf2791d1f6b9fac0\" tg-width=\"1260\" tg-height=\"922\"></p><p><blockquote></blockquote></p><p></p><p> For example, according to Refinitiv, through the end of May 2021 there was more than $1.6 trillion in domestic M&amp;A activity, almost 50% higher than the previous calendar year that held the record for the most M&amp;A activity for the first five months. We need to focus on both IPOs and delistings, Karolyi argued, just as demographers can only analyze population trends by focusing on births and deaths.</p><p><blockquote>例如，根据Refinitiv的数据，截至2021年5月底，国内M&amp;A活动超过1.6万亿美元，比前五个月M&amp;A活动最多的记录高出近50%。卡罗利认为，我们需要关注首次公开募股和退市，就像人口学家只能通过关注出生和死亡来分析人口趋势一样。</blockquote></p><p> “The role of publicly traded corporations in the overall economy may be changing,” Karolyi said. Their possible life cycle paths are expanding to include many that don’t end in becoming publicly traded, for example, or waiting much longer before doing so. Given the abundant liquidity in the private equity market, he added, it may very well become the preferred exit strategy for many companies that previously would have gone public.</p><p><blockquote>“卡罗利说：”上市公司在整体经济中的作用可能会发生变化。它们可能的生命周期路径正在扩展到包括许多最终不会上市的路径，或者在上市前等待更长时间。他补充说，鉴于私募股权市场充足的流动性，它很可能成为许多以前上市的公司的首选退出策略。</blockquote></p><p> The bottom line? The past decade was extraordinary for publicly traded U.S. stocks. Don’t expect that to continue indefinitely.</p><p><blockquote>底线？过去十年对于公开交易的美国股票来说是非同寻常的。不要指望这种情况会无限期地持续下去。</blockquote></p><p></p>","source":"lsy1603348471595","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>The S&P 500 would be below 1,600 without these 3 pillars and those supports are now weakening<blockquote>如果没有这三大支柱，标普500将低于 1,600，而这些支撑现在正在减弱</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nThe S&P 500 would be below 1,600 without these 3 pillars and those supports are now weakening<blockquote>如果没有这三大支柱，标普500将低于 1,600，而这些支撑现在正在减弱</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-05 11:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Investors may need to consider private equity to capture the returns that publicly traded stocks have provided</p><p><blockquote>投资者可能需要考虑私募股权来获取公开交易股票提供的回报</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ab21eb0dc365f342dd26c49af9020305\" tg-width=\"1260\" tg-height=\"840\"><span>GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>盖蒂图片社</span></p></blockquote></p><p> Stock prices can’t indefinitely grow faster than the economy. This provides a crucial reality check for U.S. stock-market bulls, many of whom believe stocks can continue outperforming the U.S. economy in perpetuity. Over the past decade, for example, the S&amp;P 500SPX,+0.88%on an inflation-adjusted total-return basis has outperformed real U.S. GDP by an annualized margin of 11.9% to 2.0%.</p><p><blockquote>股票价格的增长速度不可能永远超过经济增长速度。这为美国股市多头提供了一个至关重要的现实检验，他们中的许多人认为股市可以永远跑赢美国经济。例如，在过去十年中，标准普尔 500SPX（按通胀调整后的总回报率计算）+0.88% 的年化利润率优于美国实际 GDP，为 11.9% 至 2.0%。</blockquote></p><p> Going forward, it could be the other way around, according to an argument advanced some years ago by Robert Arnott, founder of&nbsp;Research Affiliates, and William Bernstein, co-principal at&nbsp;Efficient Frontier Advisors. They pointed out that a portion of economic growth is attributable to non-public companies, such as startups and the like — a category they refer to as “entrepreneurial capitalism.”</p><p><blockquote>根据 Research Affiliates 创始人罗伯特·阿诺特 (Robert Arnott) 和 Efficient Frontier Advisors 联席负责人威廉·伯恩斯坦 (William Bernstein) 几年前提出的论点，展望未来，情况可能会相反。他们指出，经济增长的一部分归功于非上市公司，如初创企业等--他们将这一类别称为 “创业资本主义”。</blockquote></p><p> By definition, economic growth that non-public companies generate will not show up in the stock market— which only reflects the performance of publicly traded corporations. Arnott and Bernstein estimate that share prices historically have grown about two annualized percentage points slower than the overall economy.</p><p><blockquote>根据定义，非上市公司产生的经济增长不会出现在股票市场上——股票市场只反映上市公司的业绩。阿诺特和伯恩斯坦估计，历史上股价的年化增长速度比整体经济慢约两个百分点。</blockquote></p><p> Such slippage has dire implications for the U.S. stock market’s future return. But I want to first discuss why the stock market’s stunning performance over the past decade was not due to economic growth. Instead, the bulk of that performance was due to three factors:</p><p><blockquote>这种下滑对美国股市未来的回报有着可怕的影响。但我想先讨论一下，为什么股市在过去十年中的惊人表现并不是因为经济增长。相反，这种表现的大部分归功于三个因素：</blockquote></p><p> <ul>  <li>Valuation changes: The S&amp;P 500’s price/earnings ratio has doubled over the past decade.</li>  <li>Increasing profit margins: The S&amp;P 500’s operating margin over the past four quarters has averaged nearly two percentage points higher than it was a decade ago, according to data from Howard Silverblatt, senior index analyst at S&amp;P Dow Jones Indices.</li>  <li>Net buybacks: Over the past decade corporations have repurchased more shares than new shares they have issued. This has reduced the number of shares outstanding, and increased earnings per share.</li> </ul> To appreciate the impact of these three factors, consider that the S&amp;P 500 now would trade below 1,600 if there had been no change at all over the past decade with each of these three dimensions. While the chance of such a perfect storm is so low that you might be inclined to dismiss it out of hand, Bernstein said in an interview that he wouldn’t discount the possibility.</p><p><blockquote><ul><li>估值变化： 标普500的市盈率在过去十年中翻了一番。</li><li>利润率不断提高： 根据标准普尔道琼斯指数高级指数分析师 Howard Silverblatt 的数据，标普500过去四个季度的营业利润率平均比十年前高出近两个百分点。</li><li>净回购：在过去十年中，公司回购的股票超过了他们发行的新股。这减少了流通股数量，并增加了每股收益。</li></ul>为了理解这三个因素的影响，请考虑一下，如果这三个维度在过去十年中没有任何变化，标普500现在的交易价格将低于 1,600 点。伯恩斯坦在接受采访时说，虽然发生这样一场完美风暴的可能性非常低，以至于你可能会倾向于不予理睬，但他不会排除这种可能性。</blockquote></p><p> <b>Projecting the future</b></p><p><blockquote><b>预测未来</b></blockquote></p><p> The picture this analysis paints about the U.S. stock market’s future isn’t pretty, assuming the U.S. economy grows at the same pace over the next decade as the last. In that case, the only way the market can produce annualized returns greater than the low single-digits is for the P/E ratio and profit margins to continue rising or for net buybacks to continue reducing the number of shares outstanding — or for some combination of these three factors to occur.</p><p><blockquote>假设美国经济在未来十年的增长速度与过去十年相同，那么这项分析对美国股市未来的描绘并不美好。在这种情况下，市场能够产生高于低个位数的年化回报的唯一方法是市盈率和利润率继续上升，或者净回购继续减少流通股数量——或者这三个因素的某种组合发生。</blockquote></p><p> More likely, these three tailwinds will become headwinds. P/E ratios&nbsp;already are at or near the high end of their historical distribution, and they can’t go up forever. Profit margins also are at or near record levels and,as I argued earlier this week, there are good reasons to expect those margins to decline in coming years. While it’s possible that buybacks will outpace share issuance in coming years, that’s hardly a sure bet. Over the past 12 months, for example, there have been negative net buybacks — i.e. more shares have been issued than repurchased. In fact, Arnott pointed out in an email, for most of U.S. stock market history net buybacks have been negative.</p><p><blockquote>更有可能的是，这三个顺风会变成逆风。市盈率已经处于或接近其历史分布的高端，而且不可能永远上升。利润率也处于或接近创纪录水平，正如我本周早些时候所说，有充分的理由预计这些利润率将在未来几年下降。虽然未来几年回购量有可能超过股票发行量，但这并不是板上钉钉的事。例如，在过去 12 个月中，出现了负净回购——即发行的股票多于回购的股票。事实上，阿诺特在一封电子邮件中指出，在美国股市历史上的大部分时间里，净回购都是负数。</blockquote></p><p> One can also wonder if an even-greater share of economic growth in coming years will accrue to non-public equity. Andrew Karolyi, dean of Cornell University’s SC Johnson College of Business, said in an interview that private equity now plays a much bigger role than in the past. One possible future, he said, is that the growth of the public stock market lags that of the overall economy by an increasing amount.</p><p><blockquote>人们还可能想知道，未来几年经济增长中是否会有更大的份额来自非公共股本。康奈尔大学圣约翰逊商学院院长安德鲁-卡罗利（Andrew Karolyi）在接受采访时表示，私募股权现在发挥的作用比过去大得多。他说，一个可能的未来是，公共股票市场的增长越来越滞后于整体经济的增长。</blockquote></p><p> One measure of the declining economic importance of the public corporation is the decreasing number of publicly traded companies, as reflected in the chart below. This decline has been overlooked by many on Wall Street, given their focus on the red-hot IPO market. But, as Karolyi pointed out, even as more companies are coming to market, there have also been an increasing number of delistings.</p><p><blockquote>上市公司经济重要性下降的一个衡量标准是上市公司数量的减少，如下图所示。鉴于华尔街许多人专注于炙手可热的 IPO 市场，这种下滑一直被他们忽视。但是，正如卡罗利指出的那样，即使越来越多的公司进入市场，也有越来越多的公司退市。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3de45fd68cb24b2bdf2791d1f6b9fac0\" tg-width=\"1260\" tg-height=\"922\"></p><p><blockquote></blockquote></p><p></p><p> For example, according to Refinitiv, through the end of May 2021 there was more than $1.6 trillion in domestic M&amp;A activity, almost 50% higher than the previous calendar year that held the record for the most M&amp;A activity for the first five months. We need to focus on both IPOs and delistings, Karolyi argued, just as demographers can only analyze population trends by focusing on births and deaths.</p><p><blockquote>例如，根据Refinitiv的数据，截至2021年5月底，国内M&amp;A活动超过1.6万亿美元，比前五个月M&amp;A活动最多的记录高出近50%。卡罗利认为，我们需要关注首次公开募股和退市，就像人口学家只能通过关注出生和死亡来分析人口趋势一样。</blockquote></p><p> “The role of publicly traded corporations in the overall economy may be changing,” Karolyi said. Their possible life cycle paths are expanding to include many that don’t end in becoming publicly traded, for example, or waiting much longer before doing so. Given the abundant liquidity in the private equity market, he added, it may very well become the preferred exit strategy for many companies that previously would have gone public.</p><p><blockquote>“卡罗利说：”上市公司在整体经济中的作用可能会发生变化。它们可能的生命周期路径正在扩展到包括许多最终不会上市的路径，或者在上市前等待更长时间。他补充说，鉴于私募股权市场充足的流动性，它很可能成为许多以前上市的公司的首选退出策略。</blockquote></p><p> The bottom line? The past decade was extraordinary for publicly traded U.S. stocks. Don’t expect that to continue indefinitely.</p><p><blockquote>底线？过去十年对于公开交易的美国股票来说是非同寻常的。不要指望这种情况会无限期地持续下去。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-s-p-500-would-be-below-1-600-without-these-3-pillars-and-those-supports-are-now-weakening-11622781972?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/the-s-p-500-would-be-below-1-600-without-these-3-pillars-and-those-supports-are-now-weakening-11622781972?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162130057","content_text":"Investors may need to consider private equity to capture the returns that publicly traded stocks have provided\nGETTY IMAGES\nStock prices can’t indefinitely grow faster than the economy. This provides a crucial reality check for U.S. stock-market bulls, many of whom believe stocks can continue outperforming the U.S. economy in perpetuity. Over the past decade, for example, the S&P 500SPX,+0.88%on an inflation-adjusted total-return basis has outperformed real U.S. GDP by an annualized margin of 11.9% to 2.0%.\nGoing forward, it could be the other way around, according to an argument advanced some years ago by Robert Arnott, founder of Research Affiliates, and William Bernstein, co-principal at Efficient Frontier Advisors. They pointed out that a portion of economic growth is attributable to non-public companies, such as startups and the like — a category they refer to as “entrepreneurial capitalism.”\nBy definition, economic growth that non-public companies generate will not show up in the stock market— which only reflects the performance of publicly traded corporations. Arnott and Bernstein estimate that share prices historically have grown about two annualized percentage points slower than the overall economy.\nSuch slippage has dire implications for the U.S. stock market’s future return. But I want to first discuss why the stock market’s stunning performance over the past decade was not due to economic growth. Instead, the bulk of that performance was due to three factors:\n\nValuation changes: The S&P 500’s price/earnings ratio has doubled over the past decade.\nIncreasing profit margins: The S&P 500’s operating margin over the past four quarters has averaged nearly two percentage points higher than it was a decade ago, according to data from Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.\nNet buybacks: Over the past decade corporations have repurchased more shares than new shares they have issued. This has reduced the number of shares outstanding, and increased earnings per share.\n\nTo appreciate the impact of these three factors, consider that the S&P 500 now would trade below 1,600 if there had been no change at all over the past decade with each of these three dimensions. While the chance of such a perfect storm is so low that you might be inclined to dismiss it out of hand, Bernstein said in an interview that he wouldn’t discount the possibility.\nProjecting the future\nThe picture this analysis paints about the U.S. stock market’s future isn’t pretty, assuming the U.S. economy grows at the same pace over the next decade as the last. In that case, the only way the market can produce annualized returns greater than the low single-digits is for the P/E ratio and profit margins to continue rising or for net buybacks to continue reducing the number of shares outstanding — or for some combination of these three factors to occur.\nMore likely, these three tailwinds will become headwinds. P/E ratios already are at or near the high end of their historical distribution, and they can’t go up forever. Profit margins also are at or near record levels and,as I argued earlier this week, there are good reasons to expect those margins to decline in coming years. While it’s possible that buybacks will outpace share issuance in coming years, that’s hardly a sure bet. Over the past 12 months, for example, there have been negative net buybacks — i.e. more shares have been issued than repurchased. In fact, Arnott pointed out in an email, for most of U.S. stock market history net buybacks have been negative.\nOne can also wonder if an even-greater share of economic growth in coming years will accrue to non-public equity. Andrew Karolyi, dean of Cornell University’s SC Johnson College of Business, said in an interview that private equity now plays a much bigger role than in the past. One possible future, he said, is that the growth of the public stock market lags that of the overall economy by an increasing amount.\nOne measure of the declining economic importance of the public corporation is the decreasing number of publicly traded companies, as reflected in the chart below. This decline has been overlooked by many on Wall Street, given their focus on the red-hot IPO market. But, as Karolyi pointed out, even as more companies are coming to market, there have also been an increasing number of delistings.\n\nFor example, according to Refinitiv, through the end of May 2021 there was more than $1.6 trillion in domestic M&A activity, almost 50% higher than the previous calendar year that held the record for the most M&A activity for the first five months. We need to focus on both IPOs and delistings, Karolyi argued, just as demographers can only analyze population trends by focusing on births and deaths.\n“The role of publicly traded corporations in the overall economy may be changing,” Karolyi said. Their possible life cycle paths are expanding to include many that don’t end in becoming publicly traded, for example, or waiting much longer before doing so. Given the abundant liquidity in the private equity market, he added, it may very well become the preferred exit strategy for many companies that previously would have gone public.\nThe bottom line? The past decade was extraordinary for publicly traded U.S. stocks. Don’t expect that to continue indefinitely.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1348,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113258765,"gmtCreate":1622621804657,"gmtModify":1631890126588,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/113258765","repostId":"1126269956","repostType":4,"repost":{"id":"1126269956","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622620933,"share":"https://www.laohunote.com/m/news/1126269956?lang=zh_CN&edition=full","pubTime":"2021-06-02 16:02","market":"us","language":"en","title":"AMC stock gains extended to 31% in premarket trading<blockquote>AMC 股价在盘前交易中涨幅扩大至 31%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126269956","media":"Tiger Newspress","summary":"AMC stock gains extended to 31% in premarket trading although Mudrick sold Entire AMC Stake and Call","content":"<p>AMC stock gains extended to 31% in premarket trading&nbsp;although&nbsp;Mudrick sold Entire AMC Stake&nbsp;and&nbsp;Called Shares Overvalued.</p><p><blockquote>尽管穆德里克出售了全部 AMC 股份并称股票被高估，但 AMC 股票在盘前交易中涨幅扩大至 31%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e448fc065537b715680a70c18646e5e8\" tg-width=\"1302\" tg-height=\"663\"></p><p><blockquote></blockquote></p><p>Mudrick Capital&nbsp;sold all its stock in&nbsp;AMC Entertainment Holdings Inc.&nbsp;as of Tuesday, the same day the movie theater chain disclosed that the investment firm had bought $230.5 million of fresh shares to bolster its finances, according to a person with knowledge of the matter.</p><p><blockquote>据一位知情人士透露，截至周二，穆德里克资本出售了其在AMC院线控股公司的所有股票，同一天，这家连锁影院透露，这家投资公司已购买了 2.305 亿美元的新股，以增强其财务状况。</blockquote></p><p>Mudrick no longer holds any AMC shares and sold at a profit, the person said, asking not to be identified discussing a private matter. The firm disposed of its stake after concluding that AMC’s stock is overvalued, propped up by a recent wave of day-trader enthusiasm, the person said.</p><p><blockquote>该人士表示，穆德里克不再持有任何 AMC 股票，并出售获利。他要求匿名讨论私人事务。该人士说，在最近一波日内交易者的热情推动下，该公司在认定 AMC 的股票被高估后出售了其股份。</blockquote></p><p><img src=\"https://static.tigerbbs.com/d389ac323e1c44b06c71b87fefcdcfaa\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC jumped 23% to $32.04 at the close in New York. The shares more than doubled in May, pushing the year-to-date gain to a whopping 1,411% for the year.</p><p><blockquote>纽约收盘时，AMC 股价上涨 23%，至 32.04 美元。该股在 5 月份上涨了一倍多，将年初至今的涨幅推至 1,411%。</blockquote></p><p><b>No Lockup</b></p><p><blockquote><b>无锁定</b></blockquote></p><p>AMC said Tuesday it sold stock to Mudrick with plans to “go on offense” for acquisitions. The agreement with New York-based Mudrick was for 8.5 million shares of common stock at $27.12 apiece. The stock purchase came with the assurance that the shares would be “freely tradable,” meaning the firm could sell the shares at any point or in any amount it chose.</p><p><blockquote>AMC 周二表示，已向 Mudrick 出售股票，并计划 “继续前进 ”进行收购。与总部位于纽约的穆德里克达成的协议是以每股 27.12 美元的价格发行 850 万股普通股。购买股票的前提是股票将 “自由交易 ”，这意味着公司可以在任何时候或以任何数量出售股票。</blockquote></p><p>Debt holders have also benefited from the recent equity rally. Some of its junk-rated second lien bonds due 2026 that were trading as low as 5 cents on the dollar in November are now close to face value, and quotes on its senior subordinated notes maturing in 2027 jumped about 4.5 cents Tuesday to almost 80 cents.</p><p><blockquote>债务持有人也从最近的股市上涨中受益。其一些 2026 年到期的垃圾级第二留置权债券在 11 月份的交易价格低至 5 美分，现在已接近面值，其 2027 年到期的高级次级票据的报价周二上涨约 4.5 美分，至近 80 美分。</blockquote></p><p>Mudrick has made big bets on AMC in the past, helping the movie theater chain as it pushed through the pandemic. In January, the firm agreed to buy $100 million of new secured bonds in exchange for a commitment fee equal to about 8 million AMC shares. The agreement also called for Mudrick to exchange $100 million of AMC bonds due 2026 for about 13.7 million shares.</p><p><blockquote>穆德里克过去曾在 AMC 上下大赌注，帮助这家连锁影院度过疫情。今年 1 月，该公司同意购买 1 亿美元的新担保债券，以换取相当于约 800 万股 AMC 股票的承诺费。该协议还要求穆德里克将 2026 年到期的 1 亿美元 AMC 债券兑换约 1370 万股股票。</blockquote></p><p>Jason Mudrick previously worked at Contrarian Capital Management and founded his firm in 2009. His firm, which specializes in distressed companies, is expanding further into Europe with thetakeoverof a credit hedge fund previously run by CVC Credit Partners.</p><p><blockquote>Jason Mudrick 曾在 Contrarian Capital Management 工作，并于 2009 年创立了自己的公司。他的公司专门从事陷入困境的公司，正在通过收购之前由 CVC Credit Partners 运营的一家信贷对冲基金，进一步向欧洲扩张。</blockquote></p><p>AMC has worked this year to raise cash through debt and equity deals, which helped stave off bankruptcy while its theaters were closed because of the coronavirus pandemic. Mudrick was among investors and creditors who suggested it sell more shares to pay down debt.</p><p><blockquote>AMC 今年一直致力于通过债务和股权交易筹集现金，这有助于在其影院因冠状病毒大流行而关闭期间避免破产。穆德里克是建议该公司出售更多股票以偿还债务的投资者和债权人之一。</blockquote></p><p>The most recent deal with Mudrick “will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities,” AMC Chief Executive Officer Adam Aron said in a statement disclosing the share sale.</p><p><blockquote>AMC 首席执行官亚当-阿伦（Adam Aron）在披露股份出售的声明中说：“与穆德里克的最新交易 “将使我们能够积极主动地追求最有价值的影院资产，并对我们的业务进行其他战略投资，并寻求去杠杆化机会”。</blockquote></p><p></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>AMC stock gains extended to 31% in premarket trading<blockquote>AMC 股价在盘前交易中涨幅扩大至 31%</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nAMC stock gains extended to 31% in premarket trading<blockquote>AMC 股价在盘前交易中涨幅扩大至 31%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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 smaller\">2021-06-02 16:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMC stock gains extended to 31% in premarket trading&nbsp;although&nbsp;Mudrick sold Entire AMC Stake&nbsp;and&nbsp;Called Shares Overvalued.</p><p><blockquote>尽管穆德里克出售了全部 AMC 股份并称股票被高估，但 AMC 股票在盘前交易中涨幅扩大至 31%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e448fc065537b715680a70c18646e5e8\" tg-width=\"1302\" tg-height=\"663\"></p><p><blockquote></blockquote></p><p>Mudrick Capital&nbsp;sold all its stock in&nbsp;AMC Entertainment Holdings Inc.&nbsp;as of Tuesday, the same day the movie theater chain disclosed that the investment firm had bought $230.5 million of fresh shares to bolster its finances, according to a person with knowledge of the matter.</p><p><blockquote>据一位知情人士透露，截至周二，穆德里克资本出售了其在AMC院线控股公司的所有股票，同一天，这家连锁影院透露，这家投资公司已购买了 2.305 亿美元的新股，以增强其财务状况。</blockquote></p><p>Mudrick no longer holds any AMC shares and sold at a profit, the person said, asking not to be identified discussing a private matter. The firm disposed of its stake after concluding that AMC’s stock is overvalued, propped up by a recent wave of day-trader enthusiasm, the person said.</p><p><blockquote>该人士表示，穆德里克不再持有任何 AMC 股票，并出售获利。他要求匿名讨论私人事务。该人士说，在最近一波日内交易者的热情推动下，该公司在认定 AMC 的股票被高估后出售了其股份。</blockquote></p><p><img src=\"https://static.tigerbbs.com/d389ac323e1c44b06c71b87fefcdcfaa\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC jumped 23% to $32.04 at the close in New York. The shares more than doubled in May, pushing the year-to-date gain to a whopping 1,411% for the year.</p><p><blockquote>纽约收盘时，AMC 股价上涨 23%，至 32.04 美元。该股在 5 月份上涨了一倍多，将年初至今的涨幅推至 1,411%。</blockquote></p><p><b>No Lockup</b></p><p><blockquote><b>无锁定</b></blockquote></p><p>AMC said Tuesday it sold stock to Mudrick with plans to “go on offense” for acquisitions. The agreement with New York-based Mudrick was for 8.5 million shares of common stock at $27.12 apiece. The stock purchase came with the assurance that the shares would be “freely tradable,” meaning the firm could sell the shares at any point or in any amount it chose.</p><p><blockquote>AMC 周二表示，已向 Mudrick 出售股票，并计划 “继续前进 ”进行收购。与总部位于纽约的穆德里克达成的协议是以每股 27.12 美元的价格发行 850 万股普通股。购买股票的前提是股票将 “自由交易 ”，这意味着公司可以在任何时候或以任何数量出售股票。</blockquote></p><p>Debt holders have also benefited from the recent equity rally. Some of its junk-rated second lien bonds due 2026 that were trading as low as 5 cents on the dollar in November are now close to face value, and quotes on its senior subordinated notes maturing in 2027 jumped about 4.5 cents Tuesday to almost 80 cents.</p><p><blockquote>债务持有人也从最近的股市上涨中受益。其一些 2026 年到期的垃圾级第二留置权债券在 11 月份的交易价格低至 5 美分，现在已接近面值，其 2027 年到期的高级次级票据的报价周二上涨约 4.5 美分，至近 80 美分。</blockquote></p><p>Mudrick has made big bets on AMC in the past, helping the movie theater chain as it pushed through the pandemic. In January, the firm agreed to buy $100 million of new secured bonds in exchange for a commitment fee equal to about 8 million AMC shares. The agreement also called for Mudrick to exchange $100 million of AMC bonds due 2026 for about 13.7 million shares.</p><p><blockquote>穆德里克过去曾在 AMC 上下大赌注，帮助这家连锁影院度过疫情。今年 1 月，该公司同意购买 1 亿美元的新担保债券，以换取相当于约 800 万股 AMC 股票的承诺费。该协议还要求穆德里克将 2026 年到期的 1 亿美元 AMC 债券兑换约 1370 万股股票。</blockquote></p><p>Jason Mudrick previously worked at Contrarian Capital Management and founded his firm in 2009. His firm, which specializes in distressed companies, is expanding further into Europe with thetakeoverof a credit hedge fund previously run by CVC Credit Partners.</p><p><blockquote>Jason Mudrick 曾在 Contrarian Capital Management 工作，并于 2009 年创立了自己的公司。他的公司专门从事陷入困境的公司，正在通过收购之前由 CVC Credit Partners 运营的一家信贷对冲基金，进一步向欧洲扩张。</blockquote></p><p>AMC has worked this year to raise cash through debt and equity deals, which helped stave off bankruptcy while its theaters were closed because of the coronavirus pandemic. Mudrick was among investors and creditors who suggested it sell more shares to pay down debt.</p><p><blockquote>AMC 今年一直致力于通过债务和股权交易筹集现金，这有助于在其影院因冠状病毒大流行而关闭期间避免破产。穆德里克是建议该公司出售更多股票以偿还债务的投资者和债权人之一。</blockquote></p><p>The most recent deal with Mudrick “will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities,” AMC Chief Executive Officer Adam Aron said in a statement disclosing the share sale.</p><p><blockquote>AMC 首席执行官亚当-阿伦（Adam Aron）在披露股份出售的声明中说：“与穆德里克的最新交易 “将使我们能够积极主动地追求最有价值的影院资产，并对我们的业务进行其他战略投资，并寻求去杠杆化机会”。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126269956","content_text":"AMC stock gains extended to 31% in premarket trading although Mudrick sold Entire AMC Stake and Called Shares Overvalued.Mudrick Capital sold all its stock in AMC Entertainment Holdings Inc. as of Tuesday, the same day the movie theater chain disclosed that the investment firm had bought $230.5 million of fresh shares to bolster its finances, according to a person with knowledge of the matter.Mudrick no longer holds any AMC shares and sold at a profit, the person said, asking not to be identified discussing a private matter. The firm disposed of its stake after concluding that AMC’s stock is overvalued, propped up by a recent wave of day-trader enthusiasm, the person said.AMC jumped 23% to $32.04 at the close in New York. The shares more than doubled in May, pushing the year-to-date gain to a whopping 1,411% for the year.No LockupAMC said Tuesday it sold stock to Mudrick with plans to “go on offense” for acquisitions. The agreement with New York-based Mudrick was for 8.5 million shares of common stock at $27.12 apiece. The stock purchase came with the assurance that the shares would be “freely tradable,” meaning the firm could sell the shares at any point or in any amount it chose.Debt holders have also benefited from the recent equity rally. Some of its junk-rated second lien bonds due 2026 that were trading as low as 5 cents on the dollar in November are now close to face value, and quotes on its senior subordinated notes maturing in 2027 jumped about 4.5 cents Tuesday to almost 80 cents.Mudrick has made big bets on AMC in the past, helping the movie theater chain as it pushed through the pandemic. In January, the firm agreed to buy $100 million of new secured bonds in exchange for a commitment fee equal to about 8 million AMC shares. The agreement also called for Mudrick to exchange $100 million of AMC bonds due 2026 for about 13.7 million shares.Jason Mudrick previously worked at Contrarian Capital Management and founded his firm in 2009. His firm, which specializes in distressed companies, is expanding further into Europe with thetakeoverof a credit hedge fund previously run by CVC Credit Partners.AMC has worked this year to raise cash through debt and equity deals, which helped stave off bankruptcy while its theaters were closed because of the coronavirus pandemic. Mudrick was among investors and creditors who suggested it sell more shares to pay down debt.The most recent deal with Mudrick “will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities,” AMC Chief Executive Officer Adam Aron said in a statement disclosing the share sale.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110184164,"gmtCreate":1622431067758,"gmtModify":1631890126599,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/110184164","repostId":"2139438981","repostType":4,"isVote":1,"tweetType":1,"viewCount":1126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137206708,"gmtCreate":1622347235504,"gmtModify":1631890126612,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550144882339071","authorIdStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/137206708","repostId":"2138488778","repostType":4,"isVote":1,"tweetType":1,"viewCount":1204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":349664426,"gmtCreate":1617607099665,"gmtModify":1634297626950,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":12,"repostSize":0,"link":"https://laohu8.com/post/349664426","repostId":"1194643276","repostType":4,"isVote":1,"tweetType":1,"viewCount":1233,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348212500,"gmtCreate":1617931772300,"gmtModify":1634295683475,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Wow!","listText":"Wow!","text":"Wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":10,"repostSize":0,"link":"https://laohu8.com/post/348212500","repostId":"2126012847","repostType":4,"isVote":1,"tweetType":1,"viewCount":1191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343028719,"gmtCreate":1617665002031,"gmtModify":1634297295978,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Thats right!","listText":"Thats right!","text":"Thats right!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/343028719","repostId":"1123709980","repostType":4,"isVote":1,"tweetType":1,"viewCount":1012,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340298496,"gmtCreate":1617414519415,"gmtModify":1634521073342,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/340298496","repostId":"2124875875","repostType":4,"isVote":1,"tweetType":1,"viewCount":750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155091300,"gmtCreate":1625362176500,"gmtModify":1631884569225,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/155091300","repostId":"1165340887","repostType":4,"isVote":1,"tweetType":1,"viewCount":4313,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346198891,"gmtCreate":1618011709513,"gmtModify":1634295284522,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/346198891","repostId":"1168300924","repostType":4,"repost":{"id":"1168300924","kind":"news","pubTimestamp":1617955250,"share":"https://www.laohunote.com/m/news/1168300924?lang=zh_CN&edition=full","pubTime":"2021-04-09 16:00","market":"us","language":"en","title":"Next Week’s IPO Lineup Is Growing. It Could Be Busy.<blockquote>下周的 IPO 阵容正在增加。可能很忙。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1168300924","media":"barrons","summary":"The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.And Alkami Technology,a bank software company, and Karat Pa","content":"<p>The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.</p><p><blockquote>四月的第二周将成为IPO市场相对强劲的时期。又有四家公司在股票市场首次亮相，使总数至少达到六家。</blockquote></p><p>Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.</p><p><blockquote>美国最大的加密货币交易所 Coinbase 定于 4 月 14 日星期三开始交易。三位知情人士称，Applovin和图森未来将于次日上市。Agilon Health将于那个星期四首次亮相。</blockquote></p><p>And Alkami Technology,a bank software company, and Karat Packaging, whichmakes environmentally-friendly disposable food service products, are also reportedly going public.</p><p><blockquote>据报道，银行软件公司 Alkami Technology 和生产环保一次性食品服务产品的 Karat Packaging 也将上市。</blockquote></p><p>This week, by way of contrast, two companies, Reneo Pharmaceuticals and VectivBio Holding, are listing. Both are small biotech companies that areslated to begin trading on the Nasdaq on Friday.</p><p><blockquote>相比之下，本周，Reneo Pharmaceuticals 和 VectivBio Holding 两家公司上市。这两家公司都是小型生物技术公司，预计将于周五开始在纳斯达克交易。</blockquote></p><p>Applovin on Wednesday set terms for its initial public offering. It is offering 25 million shares at $75 to $85 each, which means it could raise as much as $2.13 billion if the stock sells at the high end of that range. The company plans to trade on the Nasdaq under the symbol APP.</p><p><blockquote>Applovin 周三为其首次公开募股设定了条款。该公司将以每股 75 至 85 美元的价格发行 2500 万股股票，这意味着如果股票在该范围的高端售价，它可以筹集高达 21.3 亿美元的资金。该公司计划在 symbol 应用程序下的纳斯达克上进行交易。</blockquote></p><p>Eighteen underwriters are listed in the Applovin prospectus, includingMorgan Stanley(ticker: MS),JPMorgan Chase(JPM),KKR,&nbsp;Bank of America‘s (BAC) BofA Securities, andCitigroup(C).</p><p><blockquote>Applovin 招股说明书中列出了 18 家承销商，包括摩根士丹利（股票代码：MS）、摩根大通（JPM）、KKR、美国银行 (BAC) 美银证券和花旗集团 (C)。</blockquote></p><p>Founded in 2012, Applovin&nbsp;provides software&nbsp;used by mobile-game developers to grow their businesses.&nbsp; Some 410 million people a day open apps that contain Applovin software, according to the company. Applovin also has a portfolio of more than 200 free-to-play mobile games with 32 million daily users.</p><p><blockquote>Applovin成立于2012年，提供手机游戏开发商用来发展业务的软件。据该公司称，每天约有4.1亿人打开包含Applovin软件的应用程序。Applovin 还拥有 200 多款免费手机游戏，日活跃用户达 3200 万。</blockquote></p><p>In 2018, KKRbought a minority stakein Applovin for $400 million, valuing Applovin at $2 billion at the time. Applovin in February acquired Adjust, a firm that helps mobile-app developers measure the performance of apps and prevent fraud, for $1 billion. KKR will own 67.4% of the company after the IPO, theprospectus said.</p><p><blockquote>2018年，KKR以4亿美元收购了Applovin的少数股权，当时Applovin的估值为20亿美元。Applovin 今年 2 月以 10 亿美元收购了 Adjust，这是一家帮助移动应用开发者衡量应用性能和防止欺诈的公司。招股书称，IPO后，KKR将拥有该公司67.4%的股份。</blockquote></p><p>With 357,955,309 shares outstanding, Applovin’s market capitalization could hit $30 billion.</p><p><blockquote>Applovin 有 357,955,309 股流通股，市值可能达到 300 亿美元。</blockquote></p><p>TuSimple also set terms for its IPO. The self-driving technology company could raise as much as $1.3 billion; it is offering nearly 34 million shares at $35 to $39 each. It will trade on the Nasdaq under the ticker TSP.</p><p><blockquote>图森未来还为其IPO设定了条款。这家自动驾驶技术公司可能筹集高达 13 亿美元的资金；该公司以每股 35 至 39 美元的价格发行近 3400 万股股票。它将在纳斯达克交易，股票代码为 TSP。</blockquote></p><p>Morgan Stanley(MS),Citigroup,and J.P. Morgan (JPM) are lead bookrunners on the deal.</p><p><blockquote>摩根士丹利 (MS)、花旗集团和摩根大通 (JPM) 是该交易的牵头账簿管理人。</blockquote></p><p>Founded in 2015, TuSimple is looking to transform the $800 billion trucking industry. The San Diego company, which has plants in Tucson, Shanghai, and Beijing, in addition to operations in Japan, is developing an autonomous freight network for long-haul, semi-trucks that it says will increase efficiency and safety on the road, while cutting operating costs.</p><p><blockquote>图森未来成立于2015年，旨在改造价值8000亿美元的卡车运输行业。这家圣地亚哥公司除了在日本开展业务外，还在图森、上海和北京设有工厂，该公司正在为长途半挂卡车开发一个自动货运网络，该公司表示这将提高效率和道路安全性，同时降低运营成本。</blockquote></p><p>TuSimple develops software for the Level 4 self-driving, long-haul trucks, which can see up to 1,000 meters away, equivalent to 30 seconds of driving time. High-definition maps provide accuracy within five centimeters.</p><p><blockquote>图森未来为4级自动驾驶长途卡车开发软件，可以看到1000米以外的地方，相当于30秒的驾驶时间。高清地图提供五厘米以内的精度。</blockquote></p><p>The company is partnering withNavistar(NAV) to develop trucks for the North American market by 2024,its prospectus said. TuSimple has another partnership withVolkswagensubsidiary TRATON for trucks in Europe. Navistar, TRATON, and United Parcel Service (UPS) are all investors.</p><p><blockquote>其招股说明书称，该公司正在与纳威司达 (NAV) 合作，到 2024 年为北美市场开发卡车。图森未来与大众汽车子公司 TRATON 在欧洲建立了另一项卡车合作伙伴关系。Navistar、TRATON 和联合包裹服务公司 (UPS) 都是投资者。</blockquote></p><p>TuSimple has raised $800 million in funding, including a $350 million round in November led by VectoIQ.BlackRock(BR), Fidelity Management &amp; Research Co and Capital Group are in talks to buy up to 10.1 million TuSimple shares at the IPO price, the prospectus said.</p><p><blockquote>图森未来已筹集 8 亿美元资金，其中包括 11 月份由 VectoIQ 领投的 3.5 亿美元融资。招股说明书称，贝莱德 (BR)、富达管理与研究公司和资本集团正在洽谈以 IPO 价格购买最多 1010 万股图森未来股票。</blockquote></p><p>The company will have 212,263,328 shares outstanding, meaning TuSimple’s market cap could climb to $8.3 billion. TuSimple, however, is not profitable. Losses widened to $177.9 million in 2020 from $84.9 million in 2019. Revenue jumped nearly 160% to $1.8 million in 2020.</p><p><blockquote>该公司将有 212,263,328 股流通股，这意味着图森未来的市值可能会攀升至 83 亿美元。然而，图森未来并不盈利。亏损从2019年的8490万美元扩大到2020年的1.779亿美元。2020 年收入增长近 160%，达到 180 万美元。</blockquote></p><p></p>","source":"lsy1601382232898","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>Next Week’s IPO Lineup Is Growing. It Could Be Busy.<blockquote>下周的 IPO 阵容正在增加。可能很忙。</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nNext Week’s IPO Lineup Is Growing. It Could Be Busy.<blockquote>下周的 IPO 阵容正在增加。可能很忙。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">barrons</strong><span class=\"h-time small\">2021-04-09 16:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.</p><p><blockquote>四月的第二周将成为IPO市场相对强劲的时期。又有四家公司在股票市场首次亮相，使总数至少达到六家。</blockquote></p><p>Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.</p><p><blockquote>美国最大的加密货币交易所 Coinbase 定于 4 月 14 日星期三开始交易。三位知情人士称，Applovin和图森未来将于次日上市。Agilon Health将于那个星期四首次亮相。</blockquote></p><p>And Alkami Technology,a bank software company, and Karat Packaging, whichmakes environmentally-friendly disposable food service products, are also reportedly going public.</p><p><blockquote>据报道，银行软件公司 Alkami Technology 和生产环保一次性食品服务产品的 Karat Packaging 也将上市。</blockquote></p><p>This week, by way of contrast, two companies, Reneo Pharmaceuticals and VectivBio Holding, are listing. Both are small biotech companies that areslated to begin trading on the Nasdaq on Friday.</p><p><blockquote>相比之下，本周，Reneo Pharmaceuticals 和 VectivBio Holding 两家公司上市。这两家公司都是小型生物技术公司，预计将于周五开始在纳斯达克交易。</blockquote></p><p>Applovin on Wednesday set terms for its initial public offering. It is offering 25 million shares at $75 to $85 each, which means it could raise as much as $2.13 billion if the stock sells at the high end of that range. The company plans to trade on the Nasdaq under the symbol APP.</p><p><blockquote>Applovin 周三为其首次公开募股设定了条款。该公司将以每股 75 至 85 美元的价格发行 2500 万股股票，这意味着如果股票在该范围的高端售价，它可以筹集高达 21.3 亿美元的资金。该公司计划在 symbol 应用程序下的纳斯达克上进行交易。</blockquote></p><p>Eighteen underwriters are listed in the Applovin prospectus, includingMorgan Stanley(ticker: MS),JPMorgan Chase(JPM),KKR,&nbsp;Bank of America‘s (BAC) BofA Securities, andCitigroup(C).</p><p><blockquote>Applovin 招股说明书中列出了 18 家承销商，包括摩根士丹利（股票代码：MS）、摩根大通（JPM）、KKR、美国银行 (BAC) 美银证券和花旗集团 (C)。</blockquote></p><p>Founded in 2012, Applovin&nbsp;provides software&nbsp;used by mobile-game developers to grow their businesses.&nbsp; Some 410 million people a day open apps that contain Applovin software, according to the company. Applovin also has a portfolio of more than 200 free-to-play mobile games with 32 million daily users.</p><p><blockquote>Applovin成立于2012年，提供手机游戏开发商用来发展业务的软件。据该公司称，每天约有4.1亿人打开包含Applovin软件的应用程序。Applovin 还拥有 200 多款免费手机游戏，日活跃用户达 3200 万。</blockquote></p><p>In 2018, KKRbought a minority stakein Applovin for $400 million, valuing Applovin at $2 billion at the time. Applovin in February acquired Adjust, a firm that helps mobile-app developers measure the performance of apps and prevent fraud, for $1 billion. KKR will own 67.4% of the company after the IPO, theprospectus said.</p><p><blockquote>2018年，KKR以4亿美元收购了Applovin的少数股权，当时Applovin的估值为20亿美元。Applovin 今年 2 月以 10 亿美元收购了 Adjust，这是一家帮助移动应用开发者衡量应用性能和防止欺诈的公司。招股书称，IPO后，KKR将拥有该公司67.4%的股份。</blockquote></p><p>With 357,955,309 shares outstanding, Applovin’s market capitalization could hit $30 billion.</p><p><blockquote>Applovin 有 357,955,309 股流通股，市值可能达到 300 亿美元。</blockquote></p><p>TuSimple also set terms for its IPO. The self-driving technology company could raise as much as $1.3 billion; it is offering nearly 34 million shares at $35 to $39 each. It will trade on the Nasdaq under the ticker TSP.</p><p><blockquote>图森未来还为其IPO设定了条款。这家自动驾驶技术公司可能筹集高达 13 亿美元的资金；该公司以每股 35 至 39 美元的价格发行近 3400 万股股票。它将在纳斯达克交易，股票代码为 TSP。</blockquote></p><p>Morgan Stanley(MS),Citigroup,and J.P. Morgan (JPM) are lead bookrunners on the deal.</p><p><blockquote>摩根士丹利 (MS)、花旗集团和摩根大通 (JPM) 是该交易的牵头账簿管理人。</blockquote></p><p>Founded in 2015, TuSimple is looking to transform the $800 billion trucking industry. The San Diego company, which has plants in Tucson, Shanghai, and Beijing, in addition to operations in Japan, is developing an autonomous freight network for long-haul, semi-trucks that it says will increase efficiency and safety on the road, while cutting operating costs.</p><p><blockquote>图森未来成立于2015年，旨在改造价值8000亿美元的卡车运输行业。这家圣地亚哥公司除了在日本开展业务外，还在图森、上海和北京设有工厂，该公司正在为长途半挂卡车开发一个自动货运网络，该公司表示这将提高效率和道路安全性，同时降低运营成本。</blockquote></p><p>TuSimple develops software for the Level 4 self-driving, long-haul trucks, which can see up to 1,000 meters away, equivalent to 30 seconds of driving time. High-definition maps provide accuracy within five centimeters.</p><p><blockquote>图森未来为4级自动驾驶长途卡车开发软件，可以看到1000米以外的地方，相当于30秒的驾驶时间。高清地图提供五厘米以内的精度。</blockquote></p><p>The company is partnering withNavistar(NAV) to develop trucks for the North American market by 2024,its prospectus said. TuSimple has another partnership withVolkswagensubsidiary TRATON for trucks in Europe. Navistar, TRATON, and United Parcel Service (UPS) are all investors.</p><p><blockquote>其招股说明书称，该公司正在与纳威司达 (NAV) 合作，到 2024 年为北美市场开发卡车。图森未来与大众汽车子公司 TRATON 在欧洲建立了另一项卡车合作伙伴关系。Navistar、TRATON 和联合包裹服务公司 (UPS) 都是投资者。</blockquote></p><p>TuSimple has raised $800 million in funding, including a $350 million round in November led by VectoIQ.BlackRock(BR), Fidelity Management &amp; Research Co and Capital Group are in talks to buy up to 10.1 million TuSimple shares at the IPO price, the prospectus said.</p><p><blockquote>图森未来已筹集 8 亿美元资金，其中包括 11 月份由 VectoIQ 领投的 3.5 亿美元融资。招股说明书称，贝莱德 (BR)、富达管理与研究公司和资本集团正在洽谈以 IPO 价格购买最多 1010 万股图森未来股票。</blockquote></p><p>The company will have 212,263,328 shares outstanding, meaning TuSimple’s market cap could climb to $8.3 billion. TuSimple, however, is not profitable. Losses widened to $177.9 million in 2020 from $84.9 million in 2019. Revenue jumped nearly 160% to $1.8 million in 2020.</p><p><blockquote>该公司将有 212,263,328 股流通股，这意味着图森未来的市值可能会攀升至 83 亿美元。然而，图森未来并不盈利。亏损从2019年的8490万美元扩大到2020年的1.779亿美元。2020 年收入增长近 160%，达到 180 万美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2\">barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"APP":"AppLovin Corporation","ALKT":"Alkami Technology, Inc.","KRT":"Karat Packaging Inc.","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168300924","content_text":"The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.And Alkami Technology,a bank software company, and Karat Packaging, whichmakes environmentally-friendly disposable food service products, are also reportedly going public.This week, by way of contrast, two companies, Reneo Pharmaceuticals and VectivBio Holding, are listing. Both are small biotech companies that areslated to begin trading on the Nasdaq on Friday.Applovin on Wednesday set terms for its initial public offering. It is offering 25 million shares at $75 to $85 each, which means it could raise as much as $2.13 billion if the stock sells at the high end of that range. The company plans to trade on the Nasdaq under the symbol APP.Eighteen underwriters are listed in the Applovin prospectus, includingMorgan Stanley(ticker: MS),JPMorgan Chase(JPM),KKR, Bank of America‘s (BAC) BofA Securities, andCitigroup(C).Founded in 2012, Applovin provides software used by mobile-game developers to grow their businesses.  Some 410 million people a day open apps that contain Applovin software, according to the company. Applovin also has a portfolio of more than 200 free-to-play mobile games with 32 million daily users.In 2018, KKRbought a minority stakein Applovin for $400 million, valuing Applovin at $2 billion at the time. Applovin in February acquired Adjust, a firm that helps mobile-app developers measure the performance of apps and prevent fraud, for $1 billion. KKR will own 67.4% of the company after the IPO, theprospectus said.With 357,955,309 shares outstanding, Applovin’s market capitalization could hit $30 billion.TuSimple also set terms for its IPO. The self-driving technology company could raise as much as $1.3 billion; it is offering nearly 34 million shares at $35 to $39 each. It will trade on the Nasdaq under the ticker TSP.Morgan Stanley(MS),Citigroup,and J.P. Morgan (JPM) are lead bookrunners on the deal.Founded in 2015, TuSimple is looking to transform the $800 billion trucking industry. The San Diego company, which has plants in Tucson, Shanghai, and Beijing, in addition to operations in Japan, is developing an autonomous freight network for long-haul, semi-trucks that it says will increase efficiency and safety on the road, while cutting operating costs.TuSimple develops software for the Level 4 self-driving, long-haul trucks, which can see up to 1,000 meters away, equivalent to 30 seconds of driving time. High-definition maps provide accuracy within five centimeters.The company is partnering withNavistar(NAV) to develop trucks for the North American market by 2024,its prospectus said. TuSimple has another partnership withVolkswagensubsidiary TRATON for trucks in Europe. Navistar, TRATON, and United Parcel Service (UPS) are all investors.TuSimple has raised $800 million in funding, including a $350 million round in November led by VectoIQ.BlackRock(BR), Fidelity Management & Research Co and Capital Group are in talks to buy up to 10.1 million TuSimple shares at the IPO price, the prospectus said.The company will have 212,263,328 shares outstanding, meaning TuSimple’s market cap could climb to $8.3 billion. TuSimple, however, is not profitable. Losses widened to $177.9 million in 2020 from $84.9 million in 2019. Revenue jumped nearly 160% to $1.8 million in 2020.","news_type":1,"symbols_score_info":{"KRT":0.9,"TSP":0.9,"VECT":0.9,"APP":0.9,"ALKT":0.9,"COIN":0.9,"RPHM":0.9}},"isVote":1,"tweetType":1,"viewCount":541,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101875509,"gmtCreate":1619884727001,"gmtModify":1634209306545,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Coool!","listText":"Coool!","text":"Coool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/101875509","repostId":"2132603015","repostType":4,"isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377338474,"gmtCreate":1619495380498,"gmtModify":1634212281472,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/377338474","repostId":"1155157199","repostType":4,"repost":{"id":"1155157199","kind":"news","pubTimestamp":1619494851,"share":"https://www.laohunote.com/m/news/1155157199?lang=zh_CN&edition=full","pubTime":"2021-04-27 11:40","market":"us","language":"en","title":"Microsoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155157199","media":"Barrons","summary":"Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.  On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.J.P. Mo","content":"<p>Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.</p><p><blockquote>华尔街预计微软将在周二收盘后公布 3 月份季度数据时公布强劲的财务业绩。</blockquote></p><p>The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.&nbsp; On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.</p><p><blockquote>分析师一致预测营收为 410 亿美元，同比增长 17%，每股收益为 1.78 美元。周一，微软股价创下 262.44 美元的盘中纪录，该股距离首次触及 2 万亿美元估值仅一步之遥。要实现这一目标，该股需要上涨至 264.55 美元。</blockquote></p><p>The shares have gained 18% year to date.</p><p><blockquote>今年迄今为止，该股已上涨 18%。</blockquote></p><p>Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system.&nbsp;</p><p><blockquote>分析师预计该公司的 Azure 和 Office 365 云业务将在本季度再次表现强劲，并将寻找企业运营加速增长的迹象。鉴于最近 PC 购买量的巨大增长，Surface 硬件（笔记本电脑和白板）的销售可能会在本季度强劲，尽管组件短缺可能会导致需求未满足。个人电脑市场的强劲也预示着Windows操作系统的销售。</blockquote></p><p>Microsoft breaks down its results into&nbsp;three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.</p><p><blockquote>微软将其业绩分为三个部分：生产力和业务流程，包括Office 365、Dynamics和LinkedIn；智能云，其中包括Azure和企业服务器软件；以及更多的个人计算，包括Windows、Xbox、Surface硬件和Bing。</blockquote></p><p>When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.</p><p><blockquote>当微软在 1 月底公布第二财季业绩时，首席财务官 Amy Hood 提供了每个部门的收入指导。对于生产力和业务流程，她预计收入为 133.5 亿至 136 亿美元。智能云的看涨期权是收入为147亿至149.5亿美元，而她预测更多个人计算的收入为123亿至127亿美元。如果每个部门的收入达到预测范围的顶部，总收入将达到 412.5 亿美元。</blockquote></p><p>In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.</p><p><blockquote>在研究报告中，几位分析师引用了客户和经销商的积极评价，预计业绩将强劲。</blockquote></p><p>Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.</p><p><blockquote>上周，KeyBanc Capital 的 Michael Turits 重申了对该股的跑赢大盘评级，同时将目标价从 280 美元上调至 295 美元。他表示，该公司可能受益于强劲的 IT 需求和个人电脑出货量的持续强劲。</blockquote></p><p>“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”</p><p><blockquote>“他写道：”我们继续看到微软扩大 Azure 范围、广泛的企业应用创新和积极的捆绑组合在市场上取得成功。“我们采访过的几乎所有北美微软分销商/经销商都报告说，微软渠道收入达到或超过了计划”。</blockquote></p><p>J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.</p><p><blockquote>摩根大通分析师 Mark Murphy 在自己对微软产品经销商进行的最新调查中对前景感到鼓舞。他说，在企业需求改善的推动下，这些公司的微软商品季度销售额平均比预期高出 3.3%。他报告了公司整个企业产品线的实力，Azure、Teams、Office 365 和安全产品等领域都取得了增长。Murphy 对跑赢大盘微软的评级，并将股价目标定为 245 美元。</blockquote></p><p>Wedbush analyst Dan Ives&nbsp;forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.</p><p><blockquote>Wedbush 分析师丹-艾夫斯（Dan Ives）预测，在 Azure 至少增长 45% 的推动下，“又一个杰作季度”，他认为 Azure 正在从亚马逊网络服务手中夺走市场份额。他说，当前的在家办公环境鼓励更多企业向基于云的运营做出战略举措，“微软全面展开，Azure 的增长依然强劲”。他维持跑赢大盘评级，目标股价为300美元。</blockquote></p><p>Citi analyst Tyler Radke&nbsp;last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”&nbsp;</p><p><blockquote>花旗分析师泰勒-拉德克（Tyler Radke）上周重申了对微软股票的买入评级，将目标价从 292 美元上调至 302 美元，并在业绩公布前对该股进行了 “积极催化剂观察”。他写道，对经销商的调查和渠道检查相结合，让他更有信心微软能够推动所有三个主要业务部门的收入，消费者和企业对个人电脑的需求都很强劲，服务器软件的强劲升级活动也很活跃，Azure 也因 “企业消费持续强劲增长 ”而持续强劲。</blockquote></p><p></p>","source":"lsy1601382232898","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>Microsoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nMicrosoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-27 11:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.</p><p><blockquote>华尔街预计微软将在周二收盘后公布 3 月份季度数据时公布强劲的财务业绩。</blockquote></p><p>The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.&nbsp; On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.</p><p><blockquote>分析师一致预测营收为 410 亿美元，同比增长 17%，每股收益为 1.78 美元。周一，微软股价创下 262.44 美元的盘中纪录，该股距离首次触及 2 万亿美元估值仅一步之遥。要实现这一目标，该股需要上涨至 264.55 美元。</blockquote></p><p>The shares have gained 18% year to date.</p><p><blockquote>今年迄今为止，该股已上涨 18%。</blockquote></p><p>Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system.&nbsp;</p><p><blockquote>分析师预计该公司的 Azure 和 Office 365 云业务将在本季度再次表现强劲，并将寻找企业运营加速增长的迹象。鉴于最近 PC 购买量的巨大增长，Surface 硬件（笔记本电脑和白板）的销售可能会在本季度强劲，尽管组件短缺可能会导致需求未满足。个人电脑市场的强劲也预示着Windows操作系统的销售。</blockquote></p><p>Microsoft breaks down its results into&nbsp;three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.</p><p><blockquote>微软将其业绩分为三个部分：生产力和业务流程，包括Office 365、Dynamics和LinkedIn；智能云，其中包括Azure和企业服务器软件；以及更多的个人计算，包括Windows、Xbox、Surface硬件和Bing。</blockquote></p><p>When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.</p><p><blockquote>当微软在 1 月底公布第二财季业绩时，首席财务官 Amy Hood 提供了每个部门的收入指导。对于生产力和业务流程，她预计收入为 133.5 亿至 136 亿美元。智能云的看涨期权是收入为147亿至149.5亿美元，而她预测更多个人计算的收入为123亿至127亿美元。如果每个部门的收入达到预测范围的顶部，总收入将达到 412.5 亿美元。</blockquote></p><p>In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.</p><p><blockquote>在研究报告中，几位分析师引用了客户和经销商的积极评价，预计业绩将强劲。</blockquote></p><p>Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.</p><p><blockquote>上周，KeyBanc Capital 的 Michael Turits 重申了对该股的跑赢大盘评级，同时将目标价从 280 美元上调至 295 美元。他表示，该公司可能受益于强劲的 IT 需求和个人电脑出货量的持续强劲。</blockquote></p><p>“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”</p><p><blockquote>“他写道：”我们继续看到微软扩大 Azure 范围、广泛的企业应用创新和积极的捆绑组合在市场上取得成功。“我们采访过的几乎所有北美微软分销商/经销商都报告说，微软渠道收入达到或超过了计划”。</blockquote></p><p>J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.</p><p><blockquote>摩根大通分析师 Mark Murphy 在自己对微软产品经销商进行的最新调查中对前景感到鼓舞。他说，在企业需求改善的推动下，这些公司的微软商品季度销售额平均比预期高出 3.3%。他报告了公司整个企业产品线的实力，Azure、Teams、Office 365 和安全产品等领域都取得了增长。Murphy 对跑赢大盘微软的评级，并将股价目标定为 245 美元。</blockquote></p><p>Wedbush analyst Dan Ives&nbsp;forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.</p><p><blockquote>Wedbush 分析师丹-艾夫斯（Dan Ives）预测，在 Azure 至少增长 45% 的推动下，“又一个杰作季度”，他认为 Azure 正在从亚马逊网络服务手中夺走市场份额。他说，当前的在家办公环境鼓励更多企业向基于云的运营做出战略举措，“微软全面展开，Azure 的增长依然强劲”。他维持跑赢大盘评级，目标股价为300美元。</blockquote></p><p>Citi analyst Tyler Radke&nbsp;last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”&nbsp;</p><p><blockquote>花旗分析师泰勒-拉德克（Tyler Radke）上周重申了对微软股票的买入评级，将目标价从 292 美元上调至 302 美元，并在业绩公布前对该股进行了 “积极催化剂观察”。他写道，对经销商的调查和渠道检查相结合，让他更有信心微软能够推动所有三个主要业务部门的收入，消费者和企业对个人电脑的需求都很强劲，服务器软件的强劲升级活动也很活跃，Azure 也因 “企业消费持续强劲增长 ”而持续强劲。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/microsoft-nears-2-trillion-market-cap-earnings-are-tuesday-51619457928?mod=hp_DAY_Theme_2_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软"},"source_url":"https://www.barrons.com/articles/microsoft-nears-2-trillion-market-cap-earnings-are-tuesday-51619457928?mod=hp_DAY_Theme_2_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155157199","content_text":"Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.  On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.The shares have gained 18% year to date.Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system. Microsoft breaks down its results into three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.Wedbush analyst Dan Ives forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.Citi analyst Tyler Radke last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":571,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347693557,"gmtCreate":1618490979279,"gmtModify":1634292594245,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/347693557","repostId":"1125635474","repostType":4,"isVote":1,"tweetType":1,"viewCount":935,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345309214,"gmtCreate":1618276279738,"gmtModify":1634294017411,"author":{"id":"3550144882339071","authorId":"3550144882339071","name":"Nienz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550144882339071","idStr":"3550144882339071"},"themes":[],"title":"","htmlText":"Cool&nbsp;","listText":"Cool&nbsp;","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/345309214","repostId":"1194635432","repostType":4,"isVote":1,"tweetType":1,"viewCount":586,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}