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Jaymand

Jaymand

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2021-12-14

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Rivian,Adobe,FedEx,Lennar,Campbell Soup,and Other Stocks to Watch This Week<blockquote>Rivian、Adobe、FedEx、Lenner、Campbell Soup 和本周值得关注的其他股票</blockquote>

2021-12-13

Ok

US IPO Week Ahead: IoT solutions, wine, and satellites in a 3 IPO week<blockquote>美国 IPO 周即将到来：物联网解决方案、葡萄酒和卫星在 IPO 第三周</blockquote>

2021-12-12

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2021-12-11

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Sea Ltd stock dropped more than 5% in morning trading<blockquote>Sea Ltd 股价早盘下跌超过 5%</blockquote>

2021-12-10

Ok

Brazilian fintech giant Nubank spikes 26% on its first day of trading<blockquote>巴西金融科技巨头 Nubank 首日股价飙升 26%</blockquote>

2021-12-09

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2021-12-08

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2021-12-07

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2021-12-06

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2021-12-05

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US IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国 IPO 周即将到来：数字银行和云基础设施引领 IPO 周 4</blockquote>

2021-12-04

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2021-12-04

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2021-12-03

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2021-12-02

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2021-12-01

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2021-11-30

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2021-11-29

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2021-11-28

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2021-11-27

Ok

SPAC Heartland Media Acquisition files for a $200 million IPO, led by founder of Heartland Media<blockquote>SPAC Heartland Media 收购案申请 2 亿美元 IPO，由 Heartland Media 创始人牵头</blockquote>

2021-11-26

Ok

Qualcomm Stock: After A Strong Rally, It Is Now A 'Hold'<blockquote>高通股票：强劲反弹后，现在“持有”</blockquote>

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06:34","market":"us","language":"en","title":"Rivian,Adobe,FedEx,Lennar,Campbell Soup,and Other Stocks to Watch This Week<blockquote>Rivian、Adobe、FedEx、Lenner、Campbell Soup 和本周值得关注的其他股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171271872","media":"Barrons","summary":"The main event for investors this week will be the Federal Reserve’s rate-setting committee’s last meeting of 2021. Recent commentary from officials has leaned more hawkish, setting up a potential announcement of plans to accelerate monthly asset purchase tapering.The Federal Open Market Committee’s two-day meeting takes place on Tuesday and Wednesday.Earnings reports this week are few, but will include Campbell Soup on Tuesday;Lennar,Accenture,FedEx,Rivian Automotive, and Adobe on Thursday; and","content":"<p>The main event for investors this week will be the Federal Reserve’s rate-setting committee’s&nbsp;last meeting of 2021. Recent commentary from officials has leaned more hawkish, setting up a potential announcement of plans to accelerate monthly asset purchase tapering.</p><p><blockquote>本周投资者的主要活动将是美联储利率制定委员会 2021 年的最后一次会议。官员们最近的评论更加鹰派，可能会宣布加速每月资产购买缩减规模的计划。</blockquote></p><p> The Federal Open Market Committee’s two-day meeting takes place on Tuesday and Wednesday.</p><p><blockquote>联邦公开市场委员会为期两天的会议将于周二和周三举行。</blockquote></p><p> Earnings reports this week are few, but will include&nbsp;Campbell Soup&nbsp;on Tuesday;Lennar,Accenture,FedEx,Rivian&nbsp;Automotive, and&nbsp;Adobe&nbsp;on Thursday; and&nbsp;Darden Restaurants&nbsp;on Friday.</p><p><blockquote>本周的财报很少，但将包括周二的金宝汤；Lenner、埃森哲、联邦快递、Rivian Automotive 和 Adobe 周四；周五的达顿餐厅。</blockquote></p><p> Economic data coming out this week includes the Bureau of Labor Statistics’ producer price index for November on Tuesday. Economists expect a 0.55% month-over-month rise for the headline index and a 0.4% gain for the core PPI. Those would both roughly match October’s pace of producer inflation.</p><p><blockquote>本周公布的经济数据包括美国劳工统计局周二公布的 11 月份生产者价格指数。经济学家预计总体指数环比上涨0.55%，核心PPI上涨0.4%。这两者都将大致与 10 月份的生产者通胀率持平。</blockquote></p><p> Other data releases include the National Federation of Independent Businesses’ sentiment&nbsp;index on Tuesday, November retail-sales spending from the Census Bureau on Wednesday, and the November housing starts on Thursday.</p><p><blockquote>其他数据还包括周二公布的全国独立企业联合会（National Federation of Independent Businesses）的情绪指数、周三公布的人口普查局（Census Bureau）的 11 月份零售销售支出以及周四公布的 11 月份房屋开工数据。</blockquote></p><p> <b>Monday 12/13</b></p><p><blockquote><b>12/13星期一</b></blockquote></p><p> J.Jill&nbsp;and&nbsp;PHX Minerals&nbsp;host earnings conference calls.</p><p><blockquote>J.Jill 和 PHX Minerals 在评级举办盈利会议。</blockquote></p><p> <b>Tuesday 12/14</b></p><p><blockquote><b>星期二 12/14</b></blockquote></p><p> Campbell Soup, Barnes Group, and&nbsp;Avaya Holdings&nbsp;host investor days.</p><p><blockquote>Campbell Soup、Barnes Group 和 Avaya Holdings 举办投资者日。</blockquote></p><p> <b>The Bureau of Labor</b>&nbsp;Statistics releases the producer price index for November. Consensus estimate is for a 0.55% month-over-month rise, and for the core PPI, which excludes food and energy, to gain 0.4%. This compares with increases of 0.6% and 0.4%, respectively, in October.</p><p><blockquote><b>劳工局</b>统计局发布了11月份的生产者价格指数。普遍预计环比上涨 0.55%，不包括食品和能源的核心 PPI 将上涨 0.4%。相比之下，10 月份分别增长了 0.6% 和 0.4%。</blockquote></p><p> <b>The National Federation</b>&nbsp;of Independent Businesses reports its index, which surveys about 5,000 small-business owners across the country, for November. Expectations call for a reading of 98.3, compared with 98.2 in October.</p><p><blockquote><b>全国联合会</b>独立企业报告了11月份的指数，该指数调查了全国约5000名小企业主。看涨期权的预期读数为98.3，而10月份为98.2。</blockquote></p><p> <b>Wednesday 12/15</b></p><p><blockquote><b>12/15星期三</b></blockquote></p><p> <b>The Federal Open Market Committee</b> concludes its two-day meeting, when policy makers will discuss accelerating the timetable for tapering monthly securities purchases.</p><p><blockquote><b>联邦公开市场委员会</b>结束为期两天的会议，政策制定者将讨论加快逐步减少每月证券购买的时间表。</blockquote></p><p> <b>The BLS reports</b> export and import price data for November. Expectations are for a 0.5% month-over-month rise in export prices, while import prices are seen increasing 0.5%. This compares with gains of 1.5% and 1.2%, respectively, in October.</p><p><blockquote><b>BLS报告</b>11月份进出口价格数据。预计出口价格将环比上涨 0.5%，而进口价格将上涨 0.5%。相比之下，10 月份的涨幅分别为 1.5% 和 1.2%。</blockquote></p><p> <b>The National Association</b> of Home Builders releases its NAHB/Wells Fargo Housing Market Index for December. Consensus estimate is for an 84 reading, compared with an 83 reading in November. The index peaked at 90 late last year, and home builders remain bullish on the housing market.</p><p><blockquote><b>全国协会</b>住宅建筑商发布了12月份的NAHB/富国银行住房市场指数。普遍估计读数为84，而11月份的读数为83。该指数去年底达到90的峰值，房屋建筑商仍然看好房地产市场。</blockquote></p><p> <b>The Census Bureau</b> reports on retail-sales spending for November. Expectations are for a seasonally adjusted 0.7% month-over-month increase in retail sales, compared with a 1.7% rise in October. Excluding autos, spending is seen rising 0.8%, compared with 1.7% in the previous period.</p><p><blockquote><b>人口普查局</b>11 月份零售支出报告。经季节性调整后，预计零售额环比增长 0.7%，而 10 月份为 1.7%。不包括汽车，支出预计增长 0.8%，而上一时期为 1.7%。</blockquote></p><p> <b>Thursday 12/16</b></p><p><blockquote><b>星期四 12/16</b></blockquote></p><p> Heico,Lennar, Accenture, FedEx, Jabil, Adobe, Rivian Automotive, and Nordson are among companies hosting earnings conference calls.</p><p><blockquote>Heico、Lennar、埃森哲、联邦快递、捷普、Adobe、Rivian汽车和诺信等公司在评级举办了财报会议。</blockquote></p><p> <b>The Census Bureau</b>releases its New Residential Construction report for November. The seasonally adjusted annual rate of housing starts is expected to be 1.563 million units, compared with 1.52 million in October. A housing start is counted when excavation begins on a home. Permits issued for new-home construction are expected to be 1.655 million, compared with 1.653 million in October.</p><p><blockquote><b>人口普查局</b>发布11月份新的住宅建设报告。经季节性调整后的新屋开工率预计为156.3万套，而10月份为152万套。当房屋开始挖掘时，房屋开始计算。新房建设许可证预计为165.5万份，而10月份为165.3万份。</blockquote></p><p> <b>The Bank of England</b> announces its interest-rate decision and publishes the minutes of the meeting.</p><p><blockquote><b>英格兰银行</b>宣布利率决定并公布会议纪要。</blockquote></p><p> <b>The Federal Reserve</b> releases industrial production data for November. Economists are looking for a 0.6% rise, after a 1.6% increase in October. Capacity utilization is expected at 76.8, roughly in line with October’s 76.4%.</p><p><blockquote><b>美联储</b>公布11月份工业生产数据。继 10 月份上涨 1.6% 之后，经济学家预计上涨 0.6%。产能利用率预计为 76.8%，与 10 月份的 76.4% 大致持平。</blockquote></p><p> <b>Friday 12/17</b></p><p><blockquote><b>12/17星期五</b></blockquote></p><p> Steelcase,Darden Restaurants, and&nbsp;Quanex Building Products&nbsp;host earnings conference calls.</p><p><blockquote>Steelcase、Darden Restaurants 和 Quanex Building Products 在评级举办财报会议。</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>Rivian,Adobe,FedEx,Lennar,Campbell Soup,and Other Stocks to Watch This Week<blockquote>Rivian、Adobe、FedEx、Lenner、Campbell Soup 和本周值得关注的其他股票</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; }\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\">\nRivian,Adobe,FedEx,Lennar,Campbell Soup,and Other Stocks to Watch This Week<blockquote>Rivian、Adobe、FedEx、Lenner、Campbell Soup 和本周值得关注的其他股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-12-13 06:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The main event for investors this week will be the Federal Reserve’s rate-setting committee’s&nbsp;last meeting of 2021. Recent commentary from officials has leaned more hawkish, setting up a potential announcement of plans to accelerate monthly asset purchase tapering.</p><p><blockquote>本周投资者的主要活动将是美联储利率制定委员会 2021 年的最后一次会议。官员们最近的评论更加鹰派，可能会宣布加速每月资产购买缩减规模的计划。</blockquote></p><p> The Federal Open Market Committee’s two-day meeting takes place on Tuesday and Wednesday.</p><p><blockquote>联邦公开市场委员会为期两天的会议将于周二和周三举行。</blockquote></p><p> Earnings reports this week are few, but will include&nbsp;Campbell Soup&nbsp;on Tuesday;Lennar,Accenture,FedEx,Rivian&nbsp;Automotive, and&nbsp;Adobe&nbsp;on Thursday; and&nbsp;Darden Restaurants&nbsp;on Friday.</p><p><blockquote>本周的财报很少，但将包括周二的金宝汤；Lenner、埃森哲、联邦快递、Rivian Automotive 和 Adobe 周四；周五的达顿餐厅。</blockquote></p><p> Economic data coming out this week includes the Bureau of Labor Statistics’ producer price index for November on Tuesday. Economists expect a 0.55% month-over-month rise for the headline index and a 0.4% gain for the core PPI. Those would both roughly match October’s pace of producer inflation.</p><p><blockquote>本周公布的经济数据包括美国劳工统计局周二公布的 11 月份生产者价格指数。经济学家预计总体指数环比上涨0.55%，核心PPI上涨0.4%。这两者都将大致与 10 月份的生产者通胀率持平。</blockquote></p><p> Other data releases include the National Federation of Independent Businesses’ sentiment&nbsp;index on Tuesday, November retail-sales spending from the Census Bureau on Wednesday, and the November housing starts on Thursday.</p><p><blockquote>其他数据还包括周二公布的全国独立企业联合会（National Federation of Independent Businesses）的情绪指数、周三公布的人口普查局（Census Bureau）的 11 月份零售销售支出以及周四公布的 11 月份房屋开工数据。</blockquote></p><p> <b>Monday 12/13</b></p><p><blockquote><b>12/13星期一</b></blockquote></p><p> J.Jill&nbsp;and&nbsp;PHX Minerals&nbsp;host earnings conference calls.</p><p><blockquote>J.Jill 和 PHX Minerals 在评级举办盈利会议。</blockquote></p><p> <b>Tuesday 12/14</b></p><p><blockquote><b>星期二 12/14</b></blockquote></p><p> Campbell Soup, Barnes Group, and&nbsp;Avaya Holdings&nbsp;host investor days.</p><p><blockquote>Campbell Soup、Barnes Group 和 Avaya Holdings 举办投资者日。</blockquote></p><p> <b>The Bureau of Labor</b>&nbsp;Statistics releases the producer price index for November. Consensus estimate is for a 0.55% month-over-month rise, and for the core PPI, which excludes food and energy, to gain 0.4%. This compares with increases of 0.6% and 0.4%, respectively, in October.</p><p><blockquote><b>劳工局</b>统计局发布了11月份的生产者价格指数。普遍预计环比上涨 0.55%，不包括食品和能源的核心 PPI 将上涨 0.4%。相比之下，10 月份分别增长了 0.6% 和 0.4%。</blockquote></p><p> <b>The National Federation</b>&nbsp;of Independent Businesses reports its index, which surveys about 5,000 small-business owners across the country, for November. Expectations call for a reading of 98.3, compared with 98.2 in October.</p><p><blockquote><b>全国联合会</b>独立企业报告了11月份的指数，该指数调查了全国约5000名小企业主。看涨期权的预期读数为98.3，而10月份为98.2。</blockquote></p><p> <b>Wednesday 12/15</b></p><p><blockquote><b>12/15星期三</b></blockquote></p><p> <b>The Federal Open Market Committee</b> concludes its two-day meeting, when policy makers will discuss accelerating the timetable for tapering monthly securities purchases.</p><p><blockquote><b>联邦公开市场委员会</b>结束为期两天的会议，政策制定者将讨论加快逐步减少每月证券购买的时间表。</blockquote></p><p> <b>The BLS reports</b> export and import price data for November. Expectations are for a 0.5% month-over-month rise in export prices, while import prices are seen increasing 0.5%. This compares with gains of 1.5% and 1.2%, respectively, in October.</p><p><blockquote><b>BLS报告</b>11月份进出口价格数据。预计出口价格将环比上涨 0.5%，而进口价格将上涨 0.5%。相比之下，10 月份的涨幅分别为 1.5% 和 1.2%。</blockquote></p><p> <b>The National Association</b> of Home Builders releases its NAHB/Wells Fargo Housing Market Index for December. Consensus estimate is for an 84 reading, compared with an 83 reading in November. The index peaked at 90 late last year, and home builders remain bullish on the housing market.</p><p><blockquote><b>全国协会</b>住宅建筑商发布了12月份的NAHB/富国银行住房市场指数。普遍估计读数为84，而11月份的读数为83。该指数去年底达到90的峰值，房屋建筑商仍然看好房地产市场。</blockquote></p><p> <b>The Census Bureau</b> reports on retail-sales spending for November. Expectations are for a seasonally adjusted 0.7% month-over-month increase in retail sales, compared with a 1.7% rise in October. Excluding autos, spending is seen rising 0.8%, compared with 1.7% in the previous period.</p><p><blockquote><b>人口普查局</b>11 月份零售支出报告。经季节性调整后，预计零售额环比增长 0.7%，而 10 月份为 1.7%。不包括汽车，支出预计增长 0.8%，而上一时期为 1.7%。</blockquote></p><p> <b>Thursday 12/16</b></p><p><blockquote><b>星期四 12/16</b></blockquote></p><p> Heico,Lennar, Accenture, FedEx, Jabil, Adobe, Rivian Automotive, and Nordson are among companies hosting earnings conference calls.</p><p><blockquote>Heico、Lennar、埃森哲、联邦快递、捷普、Adobe、Rivian汽车和诺信等公司在评级举办了财报会议。</blockquote></p><p> <b>The Census Bureau</b>releases its New Residential Construction report for November. The seasonally adjusted annual rate of housing starts is expected to be 1.563 million units, compared with 1.52 million in October. A housing start is counted when excavation begins on a home. Permits issued for new-home construction are expected to be 1.655 million, compared with 1.653 million in October.</p><p><blockquote><b>人口普查局</b>发布11月份新的住宅建设报告。经季节性调整后的新屋开工率预计为156.3万套，而10月份为152万套。当房屋开始挖掘时，房屋开始计算。新房建设许可证预计为165.5万份，而10月份为165.3万份。</blockquote></p><p> <b>The Bank of England</b> announces its interest-rate decision and publishes the minutes of the meeting.</p><p><blockquote><b>英格兰银行</b>宣布利率决定并公布会议纪要。</blockquote></p><p> <b>The Federal Reserve</b> releases industrial production data for November. Economists are looking for a 0.6% rise, after a 1.6% increase in October. Capacity utilization is expected at 76.8, roughly in line with October’s 76.4%.</p><p><blockquote><b>美联储</b>公布11月份工业生产数据。继 10 月份上涨 1.6% 之后，经济学家预计上涨 0.6%。产能利用率预计为 76.8%，与 10 月份的 76.4% 大致持平。</blockquote></p><p> <b>Friday 12/17</b></p><p><blockquote><b>12/17星期五</b></blockquote></p><p> Steelcase,Darden Restaurants, and&nbsp;Quanex Building Products&nbsp;host earnings conference calls.</p><p><blockquote>Steelcase、Darden Restaurants 和 Quanex Building Products 在评级举办财报会议。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-to-watch-this-week-fedex-rivian-lennar-campbell-adobe-51639330550?mod=hp_LEAD_3\">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":{".DJI":"道琼斯","PHX":"潘汉德尔油气","ACN":"埃森哲","LEN":"莱纳建筑公司","DRI":"达登饭店","CPB":"金宝汤","JILL":"J.Jill Inc.","ADBE":"Adobe",".IXIC":"NASDAQ Composite","FDX":"联邦快递",".SPX":"S&P 500 Index","RIVN":"Rivian Automotive, Inc.","HEI":"海科航空"},"source_url":"https://www.barrons.com/articles/stocks-to-watch-this-week-fedex-rivian-lennar-campbell-adobe-51639330550?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171271872","content_text":"The main event for investors this week will be the Federal Reserve’s rate-setting committee’s last meeting of 2021. Recent commentary from officials has leaned more hawkish, setting up a potential announcement of plans to accelerate monthly asset purchase tapering.\nThe Federal Open Market Committee’s two-day meeting takes place on Tuesday and Wednesday.\nEarnings reports this week are few, but will include Campbell Soup on Tuesday;Lennar,Accenture,FedEx,Rivian Automotive, and Adobe on Thursday; and Darden Restaurants on Friday.\nEconomic data coming out this week includes the Bureau of Labor Statistics’ producer price index for November on Tuesday. Economists expect a 0.55% month-over-month rise for the headline index and a 0.4% gain for the core PPI. Those would both roughly match October’s pace of producer inflation.\nOther data releases include the National Federation of Independent Businesses’ sentiment index on Tuesday, November retail-sales spending from the Census Bureau on Wednesday, and the November housing starts on Thursday.\nMonday 12/13\nJ.Jill and PHX Minerals host earnings conference calls.\nTuesday 12/14\nCampbell Soup, Barnes Group, and Avaya Holdings host investor days.\nThe Bureau of Labor Statistics releases the producer price index for November. Consensus estimate is for a 0.55% month-over-month rise, and for the core PPI, which excludes food and energy, to gain 0.4%. This compares with increases of 0.6% and 0.4%, respectively, in October.\nThe National Federation of Independent Businesses reports its index, which surveys about 5,000 small-business owners across the country, for November. Expectations call for a reading of 98.3, compared with 98.2 in October.\nWednesday 12/15\nThe Federal Open Market Committee concludes its two-day meeting, when policy makers will discuss accelerating the timetable for tapering monthly securities purchases.\nThe BLS reports export and import price data for November. Expectations are for a 0.5% month-over-month rise in export prices, while import prices are seen increasing 0.5%. This compares with gains of 1.5% and 1.2%, respectively, in October.\nThe National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for December. Consensus estimate is for an 84 reading, compared with an 83 reading in November. The index peaked at 90 late last year, and home builders remain bullish on the housing market.\nThe Census Bureau reports on retail-sales spending for November. Expectations are for a seasonally adjusted 0.7% month-over-month increase in retail sales, compared with a 1.7% rise in October. Excluding autos, spending is seen rising 0.8%, compared with 1.7% in the previous period.\nThursday 12/16\nHeico,Lennar, Accenture, FedEx, Jabil, Adobe, Rivian Automotive, and Nordson are among companies hosting earnings conference calls.\nThe Census Bureaureleases its New Residential Construction report for November. The seasonally adjusted annual rate of housing starts is expected to be 1.563 million units, compared with 1.52 million in October. A housing start is counted when excavation begins on a home. Permits issued for new-home construction are expected to be 1.655 million, compared with 1.653 million in October.\nThe Bank of England announces its interest-rate decision and publishes the minutes of the meeting.\nThe Federal Reserve releases industrial production data for November. Economists are looking for a 0.6% rise, after a 1.6% increase in October. Capacity utilization is expected at 76.8, roughly in line with October’s 76.4%.\nFriday 12/17\nSteelcase,Darden Restaurants, and Quanex Building Products host earnings conference calls.","news_type":1,"symbols_score_info":{".DJI":0.9,"ADBE":0.9,"JILL":0.9,"HEI":0.9,"RIVN":0.9,"AVYA":0.9,".IXIC":0.9,"FDX":0.9,"PHX":0.9,"LEN":0.9,"CPB":0.9,"ACN":0.9,"DRI":0.9,".SPX":0.9,"SCS":0.9}},"isVote":1,"tweetType":1,"viewCount":3946,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604339137,"gmtCreate":1639344714628,"gmtModify":1639344714837,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/604339137","repostId":"1103250344","repostType":4,"repost":{"id":"1103250344","kind":"news","pubTimestamp":1639280672,"share":"https://www.laohunote.com/m/news/1103250344?lang=zh_CN&edition=full","pubTime":"2021-12-12 11:44","market":"sh","language":"en","title":"US IPO Week Ahead: IoT solutions, wine, and satellites in a 3 IPO week<blockquote>美国 IPO 周即将到来：物联网解决方案、葡萄酒和卫星在 IPO 第三周</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103250344","media":"renaissancecap...","summary":"The IPO market is expected to stay relatively quiet in the week ahead with three IPOs scheduled to r","content":"<p>The IPO market is expected to stay relatively quiet in the week ahead with three IPOs scheduled to raise $789 million.</p><p><blockquote>预计未来一周IPO市场将保持相对平静，三次IPO计划筹集7.89亿美元。</blockquote></p><p> IoT solutions developer<b>Samsara</b>(IOT) plans to raise $753 million at an $11.6 billion market cap. This \"internet-of-things\" company provides a cloud-based platform that connects the assets of businesses with physical operations, enhancing operational efficiency and asset and employee productivity. Fast growing but highly unprofitable, Samsara saw double-digit growth for customers with $100k+ ARR in the 9mo FY22.</p><p><blockquote>物联网解决方案开发商<b>轮回</b>（物联网）计划以116亿美元的市值筹集7.53亿美元。这家“物联网”公司提供了一个基于云的平台，将企业的资产与物理运营连接起来，提高了运营效率以及资产和员工的生产力。快速增长但高度无利可图，Samsara 在 2022 财年的 9 个月中，ARR 超过 10 万美元的客户实现了两位数的增长。</blockquote></p><p> Wine brand<b>Fresh Vine Wine</b>(VINE) plans to raise $21 million at a $116 million market cap. This celebrity-founded company produces low carb, low calorie premium wines. Growing but highly unprofitable, Fresh Vine sells its wines through wholesale, retail, and DTC channels, and is able to conduct wholesale distribution in all 50 states and Puerto Rico.</p><p><blockquote>葡萄酒品牌<b>新鲜葡萄酒</b>(VINE) 计划以 1.16 亿美元的市值筹集 2100 万美元。这家名人创办的公司生产低碳水化合物、低热量的优质葡萄酒。Fresh Vine正在增长，但非常无利可图，它通过批发、零售和DTC渠道销售葡萄酒，并能够在所有50个州和波多黎各进行批发分销。</blockquote></p><p> Micro-cap satellite developer<b>Sidus Space</b>(SIDU) plans to raise $15 million at an $81 million market cap. This company provides commercial satellite services such as design, manufacture, launch, and data collection. &nbsp;Sidus Space has generated space-related manufacturing revenues to date, but is highly unprofitable with negative gross margin in the 9mo21.</p><p><blockquote>微帽卫星显影剂<b>Sidus空间</b>（SIDU）计划以8100万美元的市值筹集1500万美元。该公司提供商业卫星服务，如设计、制造、发射和数据收集。Sidus Space 迄今为止已产生与航天相关的制造收入，但在 2021 年 9 月毛利率为负，高度无利可图。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ead80e54642569e2b7b368c8d50dc265\" tg-width=\"1409\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: IoT solutions, wine, and satellites in a 3 IPO week<blockquote>美国 IPO 周即将到来：物联网解决方案、葡萄酒和卫星在 IPO 第三周</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\">\nUS IPO Week Ahead: IoT solutions, wine, and satellites in a 3 IPO week<blockquote>美国 IPO 周即将到来：物联网解决方案、葡萄酒和卫星在 IPO 第三周</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-12-12 11:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The IPO market is expected to stay relatively quiet in the week ahead with three IPOs scheduled to raise $789 million.</p><p><blockquote>预计未来一周IPO市场将保持相对平静，三次IPO计划筹集7.89亿美元。</blockquote></p><p> IoT solutions developer<b>Samsara</b>(IOT) plans to raise $753 million at an $11.6 billion market cap. This \"internet-of-things\" company provides a cloud-based platform that connects the assets of businesses with physical operations, enhancing operational efficiency and asset and employee productivity. Fast growing but highly unprofitable, Samsara saw double-digit growth for customers with $100k+ ARR in the 9mo FY22.</p><p><blockquote>物联网解决方案开发商<b>轮回</b>（物联网）计划以116亿美元的市值筹集7.53亿美元。这家“物联网”公司提供了一个基于云的平台，将企业的资产与物理运营连接起来，提高了运营效率以及资产和员工的生产力。快速增长但高度无利可图，Samsara 在 2022 财年的 9 个月中，ARR 超过 10 万美元的客户实现了两位数的增长。</blockquote></p><p> Wine brand<b>Fresh Vine Wine</b>(VINE) plans to raise $21 million at a $116 million market cap. This celebrity-founded company produces low carb, low calorie premium wines. Growing but highly unprofitable, Fresh Vine sells its wines through wholesale, retail, and DTC channels, and is able to conduct wholesale distribution in all 50 states and Puerto Rico.</p><p><blockquote>葡萄酒品牌<b>新鲜葡萄酒</b>(VINE) 计划以 1.16 亿美元的市值筹集 2100 万美元。这家名人创办的公司生产低碳水化合物、低热量的优质葡萄酒。Fresh Vine正在增长，但非常无利可图，它通过批发、零售和DTC渠道销售葡萄酒，并能够在所有50个州和波多黎各进行批发分销。</blockquote></p><p> Micro-cap satellite developer<b>Sidus Space</b>(SIDU) plans to raise $15 million at an $81 million market cap. This company provides commercial satellite services such as design, manufacture, launch, and data collection. &nbsp;Sidus Space has generated space-related manufacturing revenues to date, but is highly unprofitable with negative gross margin in the 9mo21.</p><p><blockquote>微帽卫星显影剂<b>Sidus空间</b>（SIDU）计划以8100万美元的市值筹集1500万美元。该公司提供商业卫星服务，如设计、制造、发射和数据收集。Sidus Space 迄今为止已产生与航天相关的制造收入，但在 2021 年 9 月毛利率为负，高度无利可图。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ead80e54642569e2b7b368c8d50dc265\" tg-width=\"1409\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/89474/US-IPO-Week-Ahead-IoT-solutions-wine-and-satellites-in-a-3-IPO-week\">renaissancecap...</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":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SIDU":"Sidus Space Inc.",".DJI":"道琼斯","IOT":"Samsara, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/89474/US-IPO-Week-Ahead-IoT-solutions-wine-and-satellites-in-a-3-IPO-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103250344","content_text":"The IPO market is expected to stay relatively quiet in the week ahead with three IPOs scheduled to raise $789 million.\nIoT solutions developerSamsara(IOT) plans to raise $753 million at an $11.6 billion market cap. This \"internet-of-things\" company provides a cloud-based platform that connects the assets of businesses with physical operations, enhancing operational efficiency and asset and employee productivity. Fast growing but highly unprofitable, Samsara saw double-digit growth for customers with $100k+ ARR in the 9mo FY22.\nWine brandFresh Vine Wine(VINE) plans to raise $21 million at a $116 million market cap. This celebrity-founded company produces low carb, low calorie premium wines. Growing but highly unprofitable, Fresh Vine sells its wines through wholesale, retail, and DTC channels, and is able to conduct wholesale distribution in all 50 states and Puerto Rico.\nMicro-cap satellite developerSidus Space(SIDU) plans to raise $15 million at an $81 million market cap. This company provides commercial satellite services such as design, manufacture, launch, and data collection.  Sidus Space has generated space-related manufacturing revenues to date, but is highly unprofitable with negative gross margin in the 9mo21.","news_type":1,"symbols_score_info":{".SPX":0,"SIDU":0,"IOT":0,".IXIC":0,"VINE":0,".DJI":0}},"isVote":1,"tweetType":1,"viewCount":2984,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605782102,"gmtCreate":1639264709528,"gmtModify":1639264709665,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/605782102","repostId":"2190675480","repostType":4,"isVote":1,"tweetType":1,"viewCount":3902,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605673785,"gmtCreate":1639171813657,"gmtModify":1639171813790,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/605673785","repostId":"1133027099","repostType":4,"repost":{"id":"1133027099","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":1639152670,"share":"https://www.laohunote.com/m/news/1133027099?lang=zh_CN&edition=full","pubTime":"2021-12-11 00:11","market":"us","language":"en","title":"Sea Ltd stock dropped more than 5% in morning trading<blockquote>Sea Ltd 股价早盘下跌超过 5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1133027099","media":"Tiger Newspress","summary":"Sea Ltd stock dropped more than 5% in morning trading.","content":"<p>Sea Ltd stock dropped more than 5% in morning trading.</p><p><blockquote>Sea Ltd 股价在早盘交易中下跌超过 5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f6295277426435ac2c7135ba73dfbdef\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></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>Sea Ltd stock dropped more than 5% in morning trading<blockquote>Sea Ltd 股价早盘下跌超过 5%</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\">\nSea Ltd stock dropped more than 5% in morning trading<blockquote>Sea Ltd 股价早盘下跌超过 5%</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\">2021-12-11 00:11</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Sea Ltd stock dropped more than 5% in morning trading.</p><p><blockquote>Sea Ltd 股价在早盘交易中下跌超过 5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f6295277426435ac2c7135ba73dfbdef\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133027099","content_text":"Sea Ltd stock dropped more than 5% in morning trading.","news_type":1,"symbols_score_info":{"SE":0.9}},"isVote":1,"tweetType":1,"viewCount":3397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602754926,"gmtCreate":1639083874926,"gmtModify":1639083875049,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/602754926","repostId":"1169029812","repostType":4,"repost":{"id":"1169029812","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":1639073261,"share":"https://www.laohunote.com/m/news/1169029812?lang=zh_CN&edition=full","pubTime":"2021-12-10 02:07","market":"us","language":"en","title":"Brazilian fintech giant Nubank spikes 26% on its first day of trading<blockquote>巴西金融科技巨头 Nubank 首日股价飙升 26%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169029812","media":"Tiger Newspress","summary":"Brazilian fintech giant Nubank spikes 26% on its first day of trading.\n\nNu Holdings Ltd.(NU), whose ","content":"<p>Brazilian fintech giant Nubank spikes 26% on its first day of trading.</p><p><blockquote>巴西金融科技巨头 Nubank 首个交易日股价飙升 26%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a3329a500714309fd90e7b12ceaef5d0\" tg-width=\"1833\" tg-height=\"825\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Nu Holdings Ltd.(NU), whose backers include Warren Buffett’s Berkshire Hathaway Inc.,also known as Nubank, is headed for its public debut on the NYSE Thursday, as the Brazil-based digital banking platform's initial public offering priced overnight at the top of the expected range. The company raised $2.60 billion, as it sold 289.15 million shares in the IPO, which priced at $9, compared with the expected range of between $8 and $9 a share. With 4.61 billion shares expected after the IPO, the pricing values the company at about $41.48 billion. The stock is expected to begin trading some time after the open under the ticker symbol \"NU.\"</p><p><blockquote>Nu Holdings Ltd.（NU）的支持者包括沃伦-巴菲特（Warren Buffett）的伯克希尔-哈撒韦公司（Berkshire Hathaway Inc.，又称 Nubank），该公司将于周四在纽约证券交易所首次公开募股，这家总部位于巴西的数字银行平台的首次公开募股隔夜定价处于预期区间的顶端。该公司在 IPO 中出售了 2.8915 亿股股票，筹集了 26 亿美元，定价为 9 美元，而预期每股 8 至 9 美元。IPO 后预计将发行 46.1 亿股股票，该公司的定价约为 414.8 亿美元。该股预计将在开盘后一段时间开始交易，股票代码为“NU”。</blockquote></p><p> Berkshire bought 10% of the shares in the offering, said a person familiar with the matter who asked not to be identified because it wasn’t public. Berkshire didn’t immediately respond to a request for comment sent to Buffett’s assistant.</p><p><blockquote>一位不愿透露姓名的知情人士说，伯克希尔在此次发行中购买了 10% 的股份。伯克希尔没有立即回应巴菲特助理的置评请求。</blockquote></p><p> Nubank’s IPO makes it the most valuable financial institution in Latin America, surpassing Itau Unibanco Holding SA, with a $38 billion market value.</p><p><blockquote>Nubank 的首次公开募股使其成为拉丁美洲最有价值的金融机构，超过了 Itau Unibanco Holding SA，市值达 380 亿美元。</blockquote></p><p> Sequoia Capital, which invested $1 million in Nubank in 2013 in a seed round, now has a stake that is worth $7.1 billion at the $9 share price, based on the company’s filings. Other top shareholders include DST Global, Tencent and Tiger Global.</p><p><blockquote>红杉资本（Sequoia Capital）于 2013 年在种子轮投资了 100 万美元，根据该公司的文件，目前按 9 美元的股价计算，其持股价值 71 亿美元。其他主要股东包括 DST Global、腾讯控股和老虎环球。</blockquote></p><p> <b>Berkshire’s Stake</b></p><p><blockquote><b>伯克希尔股份</b></blockquote></p><p> Berkshire invested in Nubank in June, taking a $500 million stake valuing the company at $30 billion, a person familiar with the matter said at the time.</p><p><blockquote>一位知情人士当时表示，伯克希尔在 6 月份投资了 Nubank，持有 5 亿美元的股份，该公司估值为 300 亿美元。</blockquote></p><p> Nubank, the world’s biggest standalone digital bank, had more than 48 million customers across Brazil, Mexico and Colombia as of September. It provides easy-to-use financial products that come with relatively low fees.</p><p><blockquote>Nubank 是全球最大的独立数字银行，截至 9 月份，在巴西、墨西哥和哥伦比亚拥有超过 4800 万客户。它提供易于使用的金融产品，费用相对较低。</blockquote></p><p> <b>Expansion Push</b></p><p><blockquote><b>膨胀推力</b></blockquote></p><p> The company said it had a $99 million loss on revenue of $1.06 billion for the nine-month period ended Sept. 30. Interest income accounted for $607 million of that revenue, with fees and commissions making up the remainder.</p><p><blockquote>该公司表示，截至 9 月 30 日的九个月期间，其收入为 10.6 亿美元，亏损 9900 万美元。其中利息收入占6.07亿美元，其余部分为费用和佣金。</blockquote></p><p> Nubank warned investors to brace for “short-term profit implications” from the firm’s expansion push.</p><p><blockquote>Nubank 警告投资者要为公司扩张带来的 “短期利润影响”做好准备。</blockquote></p><p> Chief Executive Officer David Velez will own a stake in the company worth about $8.9 billion at the IPO price. His co-founder, Cristina Junqueira, has a stake worth $1.1 billion.</p><p><blockquote>首席执行官 David Velez 将按 IPO 价格持有该公司价值约 89 亿美元的股份。他的联合创始人克里斯蒂娜·琼奎拉 (Cristina Junqueira) 拥有价值 11 亿美元的股份。</blockquote></p><p> Before creating the startup, Velez spent two years at Sequoia, trying to find an investment in Latin America. Instead he left with an idea of his own.</p><p><blockquote>在创建这家初创公司之前，Velez 在红杉公司工作了两年，试图在拉丁美洲寻找投资。相反，他带着自己的想法离开了。</blockquote></p><p> Velez, who’s Colombian, had a grueling experience opening a bank account in Brazil and enlisted Junqueira, fresh off a stint at Itau’s credit card unit, to help him create an alternative.</p><p><blockquote>贝莱斯是哥伦比亚人，他在巴西开设银行账户的经历很艰难，于是他请来了刚在伊陶信用卡部门工作过的洪奎拉，帮助他创建一个替代账户。</blockquote></p><p> Brazil, like much of Latin America, is plagued by expensive financial services that are available to only a limited portion of the population. Century-old banks dominate the market beset by bureaucratic barriers. Still, a high percentage of the region’s 700 million people own mobile phones, making it an attractive target for digital banks.</p><p><blockquote>像拉丁美洲的大部分地区一样，巴西受到昂贵的金融服务的困扰，而这些服务只有有限一部分人口能够获得。百年老银行主导着受官僚壁垒困扰的市场。尽管如此，该地区 7 亿人口中有很高比例拥有手机，这使得该地区成为数字银行极具吸引力的目标。</blockquote></p><p> Velez, whose Class B shares come with 20 votes each compared with one apiece for the Class A shares sold in the IPO, will hold 75% of the company’s voting power after the offering. Junqueira will control 9.3% of the voting power. Neither planned to sell shares in the offering, according to the filings.</p><p><blockquote>Velez 的 B 类股每股有 20 票，而 IPO 中出售的 A 类股每股有 1 票，发行后将持有公司 75% 的投票权。Junqueira将控制9.3%的投票权。文件显示，两人都不打算在此次发行中出售股票。</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>Brazilian fintech giant Nubank spikes 26% on its first day of trading<blockquote>巴西金融科技巨头 Nubank 首日股价飙升 26%</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\">\nBrazilian fintech giant Nubank spikes 26% on its first day of trading<blockquote>巴西金融科技巨头 Nubank 首日股价飙升 26%</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\">2021-12-10 02:07</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Brazilian fintech giant Nubank spikes 26% on its first day of trading.</p><p><blockquote>巴西金融科技巨头 Nubank 首个交易日股价飙升 26%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a3329a500714309fd90e7b12ceaef5d0\" tg-width=\"1833\" tg-height=\"825\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Nu Holdings Ltd.(NU), whose backers include Warren Buffett’s Berkshire Hathaway Inc.,also known as Nubank, is headed for its public debut on the NYSE Thursday, as the Brazil-based digital banking platform's initial public offering priced overnight at the top of the expected range. The company raised $2.60 billion, as it sold 289.15 million shares in the IPO, which priced at $9, compared with the expected range of between $8 and $9 a share. With 4.61 billion shares expected after the IPO, the pricing values the company at about $41.48 billion. The stock is expected to begin trading some time after the open under the ticker symbol \"NU.\"</p><p><blockquote>Nu Holdings Ltd.（NU）的支持者包括沃伦-巴菲特（Warren Buffett）的伯克希尔-哈撒韦公司（Berkshire Hathaway Inc.，又称 Nubank），该公司将于周四在纽约证券交易所首次公开募股，这家总部位于巴西的数字银行平台的首次公开募股隔夜定价处于预期区间的顶端。该公司在 IPO 中出售了 2.8915 亿股股票，筹集了 26 亿美元，定价为 9 美元，而预期每股 8 至 9 美元。IPO 后预计将发行 46.1 亿股股票，该公司的定价约为 414.8 亿美元。该股预计将在开盘后一段时间开始交易，股票代码为“NU”。</blockquote></p><p> Berkshire bought 10% of the shares in the offering, said a person familiar with the matter who asked not to be identified because it wasn’t public. Berkshire didn’t immediately respond to a request for comment sent to Buffett’s assistant.</p><p><blockquote>一位不愿透露姓名的知情人士说，伯克希尔在此次发行中购买了 10% 的股份。伯克希尔没有立即回应巴菲特助理的置评请求。</blockquote></p><p> Nubank’s IPO makes it the most valuable financial institution in Latin America, surpassing Itau Unibanco Holding SA, with a $38 billion market value.</p><p><blockquote>Nubank 的首次公开募股使其成为拉丁美洲最有价值的金融机构，超过了 Itau Unibanco Holding SA，市值达 380 亿美元。</blockquote></p><p> Sequoia Capital, which invested $1 million in Nubank in 2013 in a seed round, now has a stake that is worth $7.1 billion at the $9 share price, based on the company’s filings. Other top shareholders include DST Global, Tencent and Tiger Global.</p><p><blockquote>红杉资本（Sequoia Capital）于 2013 年在种子轮投资了 100 万美元，根据该公司的文件，目前按 9 美元的股价计算，其持股价值 71 亿美元。其他主要股东包括 DST Global、腾讯控股和老虎环球。</blockquote></p><p> <b>Berkshire’s Stake</b></p><p><blockquote><b>伯克希尔股份</b></blockquote></p><p> Berkshire invested in Nubank in June, taking a $500 million stake valuing the company at $30 billion, a person familiar with the matter said at the time.</p><p><blockquote>一位知情人士当时表示，伯克希尔在 6 月份投资了 Nubank，持有 5 亿美元的股份，该公司估值为 300 亿美元。</blockquote></p><p> Nubank, the world’s biggest standalone digital bank, had more than 48 million customers across Brazil, Mexico and Colombia as of September. It provides easy-to-use financial products that come with relatively low fees.</p><p><blockquote>Nubank 是全球最大的独立数字银行，截至 9 月份，在巴西、墨西哥和哥伦比亚拥有超过 4800 万客户。它提供易于使用的金融产品，费用相对较低。</blockquote></p><p> <b>Expansion Push</b></p><p><blockquote><b>膨胀推力</b></blockquote></p><p> The company said it had a $99 million loss on revenue of $1.06 billion for the nine-month period ended Sept. 30. Interest income accounted for $607 million of that revenue, with fees and commissions making up the remainder.</p><p><blockquote>该公司表示，截至 9 月 30 日的九个月期间，其收入为 10.6 亿美元，亏损 9900 万美元。其中利息收入占6.07亿美元，其余部分为费用和佣金。</blockquote></p><p> Nubank warned investors to brace for “short-term profit implications” from the firm’s expansion push.</p><p><blockquote>Nubank 警告投资者要为公司扩张带来的 “短期利润影响”做好准备。</blockquote></p><p> Chief Executive Officer David Velez will own a stake in the company worth about $8.9 billion at the IPO price. His co-founder, Cristina Junqueira, has a stake worth $1.1 billion.</p><p><blockquote>首席执行官 David Velez 将按 IPO 价格持有该公司价值约 89 亿美元的股份。他的联合创始人克里斯蒂娜·琼奎拉 (Cristina Junqueira) 拥有价值 11 亿美元的股份。</blockquote></p><p> Before creating the startup, Velez spent two years at Sequoia, trying to find an investment in Latin America. Instead he left with an idea of his own.</p><p><blockquote>在创建这家初创公司之前，Velez 在红杉公司工作了两年，试图在拉丁美洲寻找投资。相反，他带着自己的想法离开了。</blockquote></p><p> Velez, who’s Colombian, had a grueling experience opening a bank account in Brazil and enlisted Junqueira, fresh off a stint at Itau’s credit card unit, to help him create an alternative.</p><p><blockquote>贝莱斯是哥伦比亚人，他在巴西开设银行账户的经历很艰难，于是他请来了刚在伊陶信用卡部门工作过的洪奎拉，帮助他创建一个替代账户。</blockquote></p><p> Brazil, like much of Latin America, is plagued by expensive financial services that are available to only a limited portion of the population. Century-old banks dominate the market beset by bureaucratic barriers. Still, a high percentage of the region’s 700 million people own mobile phones, making it an attractive target for digital banks.</p><p><blockquote>像拉丁美洲的大部分地区一样，巴西受到昂贵的金融服务的困扰，而这些服务只有有限一部分人口能够获得。百年老银行主导着受官僚壁垒困扰的市场。尽管如此，该地区 7 亿人口中有很高比例拥有手机，这使得该地区成为数字银行极具吸引力的目标。</blockquote></p><p> Velez, whose Class B shares come with 20 votes each compared with one apiece for the Class A shares sold in the IPO, will hold 75% of the company’s voting power after the offering. Junqueira will control 9.3% of the voting power. Neither planned to sell shares in the offering, according to the filings.</p><p><blockquote>Velez 的 B 类股每股有 20 票，而 IPO 中出售的 A 类股每股有 1 票，发行后将持有公司 75% 的投票权。Junqueira将控制9.3%的投票权。文件显示，两人都不打算在此次发行中出售股票。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NU":"Nu Holdings Ltd."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169029812","content_text":"Brazilian fintech giant Nubank spikes 26% on its first day of trading.\n\nNu Holdings Ltd.(NU), whose backers include Warren Buffett’s Berkshire Hathaway Inc.,also known as Nubank, is headed for its public debut on the NYSE Thursday, as the Brazil-based digital banking platform's initial public offering priced overnight at the top of the expected range. The company raised $2.60 billion, as it sold 289.15 million shares in the IPO, which priced at $9, compared with the expected range of between $8 and $9 a share. With 4.61 billion shares expected after the IPO, the pricing values the company at about $41.48 billion. The stock is expected to begin trading some time after the open under the ticker symbol \"NU.\"\nBerkshire bought 10% of the shares in the offering, said a person familiar with the matter who asked not to be identified because it wasn’t public. Berkshire didn’t immediately respond to a request for comment sent to Buffett’s assistant.\nNubank’s IPO makes it the most valuable financial institution in Latin America, surpassing Itau Unibanco Holding SA, with a $38 billion market value.\nSequoia Capital, which invested $1 million in Nubank in 2013 in a seed round, now has a stake that is worth $7.1 billion at the $9 share price, based on the company’s filings. Other top shareholders include DST Global, Tencent and Tiger Global.\nBerkshire’s Stake\nBerkshire invested in Nubank in June, taking a $500 million stake valuing the company at $30 billion, a person familiar with the matter said at the time.\nNubank, the world’s biggest standalone digital bank, had more than 48 million customers across Brazil, Mexico and Colombia as of September. It provides easy-to-use financial products that come with relatively low fees.\nExpansion Push\nThe company said it had a $99 million loss on revenue of $1.06 billion for the nine-month period ended Sept. 30. Interest income accounted for $607 million of that revenue, with fees and commissions making up the remainder.\nNubank warned investors to brace for “short-term profit implications” from the firm’s expansion push.\nChief Executive Officer David Velez will own a stake in the company worth about $8.9 billion at the IPO price. His co-founder, Cristina Junqueira, has a stake worth $1.1 billion.\nBefore creating the startup, Velez spent two years at Sequoia, trying to find an investment in Latin America. Instead he left with an idea of his own.\nVelez, who’s Colombian, had a grueling experience opening a bank account in Brazil and enlisted Junqueira, fresh off a stint at Itau’s credit card unit, to help him create an alternative.\nBrazil, like much of Latin America, is plagued by expensive financial services that are available to only a limited portion of the population. Century-old banks dominate the market beset by bureaucratic barriers. Still, a high percentage of the region’s 700 million people own mobile phones, making it an attractive target for digital banks.\nVelez, whose Class B shares come with 20 votes each compared with one apiece for the Class A shares sold in the IPO, will hold 75% of the company’s voting power after the offering. Junqueira will control 9.3% of the voting power. Neither planned to sell shares in the offering, according to the filings.","news_type":1,"symbols_score_info":{"NU":0.9}},"isVote":1,"tweetType":1,"viewCount":3036,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602807508,"gmtCreate":1639004705338,"gmtModify":1639004705459,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/602807508","repostId":"2190169579","repostType":4,"isVote":1,"tweetType":1,"viewCount":3605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606722236,"gmtCreate":1638930707668,"gmtModify":1638930707796,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/606722236","repostId":"2189719656","repostType":4,"isVote":1,"tweetType":1,"viewCount":3125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606330624,"gmtCreate":1638833042778,"gmtModify":1638833042903,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/606330624","repostId":"2189686612","repostType":4,"isVote":1,"tweetType":1,"viewCount":4038,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608644573,"gmtCreate":1638738932703,"gmtModify":1638738932795,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/608644573","repostId":"2189576203","repostType":4,"isVote":1,"tweetType":1,"viewCount":2956,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608100354,"gmtCreate":1638657139895,"gmtModify":1638657139978,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/608100354","repostId":"1174181873","repostType":4,"repost":{"id":"1174181873","kind":"news","pubTimestamp":1638578178,"share":"https://www.laohunote.com/m/news/1174181873?lang=zh_CN&edition=full","pubTime":"2021-12-04 08:36","market":"us","language":"en","title":"US IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国 IPO 周即将到来：数字银行和云基础设施引领 IPO 周 4</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1174181873","media":"renaissancecap...","summary":"The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billi","content":"<p>The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billion.</p><p><blockquote>IPO市场预计将在未来一周回暖，四次IPO计划筹集37亿美元。</blockquote></p><p> Buffett-backed&nbsp;<b>Nu Holdings</b>(NU) plans to raise $2.5 billion at a $41.1 billion market cap. Operating as Nubank, this Brazilian online-only bank was formed in 2013 to launch a no-fees credit card offering with a mobile-first customer experience, but has since expanded to offer various other financial products. Nu has grown rapidly since its inception, with a current base of nearly 50 million customers, though revenue per customer has been falling as its base grows.</p><p><blockquote>巴菲特支持<b>如控股</b>(NU) 计划以 411 亿美元的市值筹集 25 亿美元。这家巴西纯在线银行成立于 2013 年，名为 Nubank，旨在推出免费信用卡产品，提供移动优先的客户体验，但此后已扩展到提供各种其他金融产品。Nu自成立以来发展迅速，目前拥有近5000万客户群，但随着客户群的增长，每位客户的收入一直在下降。</blockquote></p><p> Cloud infrastructure platform&nbsp;<b>HashiCorp</b>(HCP) plans to raise $1.1 billion at a $14.0 billion market cap. This VC-backed company provides a suite of solutions that standardize and automate the provisioning, securing, connecting, and running of cloud infrastructure at scale. While it has demonstrated rapid growth and a sticky customer base, HashiCorp is highly unprofitable due to S&amp;M spend.</p><p><blockquote>云基础设施平台<b>哈希公司</b>(HCP) 计划以 140 亿美元的市值筹集 11 亿美元。这家由风险投资支持的公司提供了一套解决方案，可以大规模标准化和自动化云基础设施的配置、保护、连接和运行。虽然 HashiCorp 表现出快速增长和粘性客户群，但由于 S&amp;M 支出，HashiCorp 高度无利可图。</blockquote></p><p> Cannabis finance REIT&nbsp;<b>Chicago Atlantic Real Estate Finance</b>(REFI) plans to raise $106 million at a $296 million market cap. This newly-formed REIT is focused on originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its current portfolio consists of senior loans to state-licensed operators in the cannabis industry.</p><p><blockquote>大麻金融房地产投资信托基金<b>芝加哥大西洋房地产金融</b>(REFI) 计划以 2.96 亿美元的市值筹集 1.06 亿美元。这个新成立的房地产投资信托基金专注于发起、构建和投资第一抵押贷款和由商业房地产担保的替代结构性融资。其目前的投资组合包括向大麻行业国家许可运营商提供的高级贷款。</blockquote></p><p> Canadian gold exploration company&nbsp;<b>Austin Gold</b>(AUST) plans to raise $15 million at a $64 million market cap. This Canadian gold exploration company currently has interests in four properties located in the state of Nevada, with just one property that it considers material at this time. Austin Gold has not generated any operating revenues to date.</p><p><blockquote>加拿大黄金勘探公司<b>奥斯汀黄金</b>(AUST) 计划以 6400 万美元的市值筹集 1500 万美元。这家加拿大黄金勘探公司目前在内华达州的四处矿产中拥有权益，目前只有一处矿产被认为是重要的。奥斯汀黄金公司迄今为止尚未产生任何营业收入。</blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国 IPO 周即将到来：数字银行和云基础设施引领 IPO 周 4</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\">\nUS IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国 IPO 周即将到来：数字银行和云基础设施引领 IPO 周 4</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-12-04 08:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billion.</p><p><blockquote>IPO市场预计将在未来一周回暖，四次IPO计划筹集37亿美元。</blockquote></p><p> Buffett-backed&nbsp;<b>Nu Holdings</b>(NU) plans to raise $2.5 billion at a $41.1 billion market cap. Operating as Nubank, this Brazilian online-only bank was formed in 2013 to launch a no-fees credit card offering with a mobile-first customer experience, but has since expanded to offer various other financial products. Nu has grown rapidly since its inception, with a current base of nearly 50 million customers, though revenue per customer has been falling as its base grows.</p><p><blockquote>巴菲特支持<b>如控股</b>(NU) 计划以 411 亿美元的市值筹集 25 亿美元。这家巴西纯在线银行成立于 2013 年，名为 Nubank，旨在推出免费信用卡产品，提供移动优先的客户体验，但此后已扩展到提供各种其他金融产品。Nu自成立以来发展迅速，目前拥有近5000万客户群，但随着客户群的增长，每位客户的收入一直在下降。</blockquote></p><p> Cloud infrastructure platform&nbsp;<b>HashiCorp</b>(HCP) plans to raise $1.1 billion at a $14.0 billion market cap. This VC-backed company provides a suite of solutions that standardize and automate the provisioning, securing, connecting, and running of cloud infrastructure at scale. While it has demonstrated rapid growth and a sticky customer base, HashiCorp is highly unprofitable due to S&amp;M spend.</p><p><blockquote>云基础设施平台<b>哈希公司</b>(HCP) 计划以 140 亿美元的市值筹集 11 亿美元。这家由风险投资支持的公司提供了一套解决方案，可以大规模标准化和自动化云基础设施的配置、保护、连接和运行。虽然 HashiCorp 表现出快速增长和粘性客户群，但由于 S&amp;M 支出，HashiCorp 高度无利可图。</blockquote></p><p> Cannabis finance REIT&nbsp;<b>Chicago Atlantic Real Estate Finance</b>(REFI) plans to raise $106 million at a $296 million market cap. This newly-formed REIT is focused on originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its current portfolio consists of senior loans to state-licensed operators in the cannabis industry.</p><p><blockquote>大麻金融房地产投资信托基金<b>芝加哥大西洋房地产金融</b>(REFI) 计划以 2.96 亿美元的市值筹集 1.06 亿美元。这个新成立的房地产投资信托基金专注于发起、构建和投资第一抵押贷款和由商业房地产担保的替代结构性融资。其目前的投资组合包括向大麻行业国家许可运营商提供的高级贷款。</blockquote></p><p> Canadian gold exploration company&nbsp;<b>Austin Gold</b>(AUST) plans to raise $15 million at a $64 million market cap. This Canadian gold exploration company currently has interests in four properties located in the state of Nevada, with just one property that it considers material at this time. Austin Gold has not generated any operating revenues to date.</p><p><blockquote>加拿大黄金勘探公司<b>奥斯汀黄金</b>(AUST) 计划以 6400 万美元的市值筹集 1500 万美元。这家加拿大黄金勘探公司目前在内华达州的四处矿产中拥有权益，目前只有一处矿产被认为是重要的。奥斯汀黄金公司迄今为止尚未产生任何营业收入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/89235/US-IPO-Week-Ahead-Digital-banking-and-cloud-infrastructure-lead-a-4-IPO-wee\">renaissancecap...</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":{"NU":"Nu Holdings Ltd.","REFI":"Chicago Atlantic Real Estate Finance, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/89235/US-IPO-Week-Ahead-Digital-banking-and-cloud-infrastructure-lead-a-4-IPO-wee","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174181873","content_text":"The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billion.\nBuffett-backed Nu Holdings(NU) plans to raise $2.5 billion at a $41.1 billion market cap. Operating as Nubank, this Brazilian online-only bank was formed in 2013 to launch a no-fees credit card offering with a mobile-first customer experience, but has since expanded to offer various other financial products. Nu has grown rapidly since its inception, with a current base of nearly 50 million customers, though revenue per customer has been falling as its base grows.\nCloud infrastructure platform HashiCorp(HCP) plans to raise $1.1 billion at a $14.0 billion market cap. This VC-backed company provides a suite of solutions that standardize and automate the provisioning, securing, connecting, and running of cloud infrastructure at scale. While it has demonstrated rapid growth and a sticky customer base, HashiCorp is highly unprofitable due to S&M spend.\nCannabis finance REIT Chicago Atlantic Real Estate Finance(REFI) plans to raise $106 million at a $296 million market cap. This newly-formed REIT is focused on originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its current portfolio consists of senior loans to state-licensed operators in the cannabis industry.\nCanadian gold exploration company Austin Gold(AUST) plans to raise $15 million at a $64 million market cap. This Canadian gold exploration company currently has interests in four properties located in the state of Nevada, with just one property that it considers material at this time. Austin Gold has not generated any operating revenues to 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07:58","market":"us","language":"en","title":"SPAC Heartland Media Acquisition files for a $200 million IPO, led by founder of Heartland Media<blockquote>SPAC Heartland Media 收购案申请 2 亿美元 IPO，由 Heartland Media 创始人牵头</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1167218984","media":"Renaissance Capital","summary":"Heartland Media Acquisition, a blank check company formed by Heartland Media targeting media, entert","content":"<p>Heartland Media Acquisition, a blank check company formed by Heartland Media targeting media, entertainment, and sports, filed on Friday with the SEC to raise up to $200 million in an initial public offering.</p><p><blockquote>Heartland Media Acquisition 是一家由 Heartland Media 成立的空白支票公司，目标是媒体、娱乐和体育，该公司于周五向 SEC 提交了首次公开募股 (IPO) 筹集高达 2 亿美元的资金。</blockquote></p><p> The Atlanta, GA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Heartland Media Acquisition would command a market value of $250 million.</p><p><blockquote>这家总部位于佐治亚州亚特兰大的公司计划通过以 10 美元的价格发行 2000 万台设备来筹集 2 亿美元。每个单位由一股普通股和半份认股权证组成，行权价为 11.50 美元。按照拟议的交易规模，Heartland Media 收购的市值将为 2.5 亿美元。</blockquote></p><p> The company is led by&nbsp;<b>CEO and Director Robert Prather Jr.</b>, the founder and CEO of Heartland Media, CEO of Allen Media Broadcasting, and former COO of Gray Television. The company plans to target the media, entertainment, and sports sectors, focusing on businesses that generate stable revenue and cash flows, have defensible market positions, and have potential for additional synergistic M&amp;A activity, among other characteristics.</p><p><blockquote>本公司由<b>首席执行官兼董事小罗伯特·普拉瑟。</b>Heartland Media 创始人兼首席执行官、Allen Media Broadcasting 首席执行官、Gray Television 前首席运营官。该公司计划瞄准媒体、娱乐和体育行业，重点关注产生稳定收入和现金流、拥有可防御的市场地位以及具有额外协同并购活动潜力等特点的业务。</blockquote></p><p> Heartland Media Acquisition was founded in 2021 and plans to list on the NYSE under the symbolHMA.U. BofA Securities and Moelis &amp; Company are the joint bookrunners on the deal.</p><p><blockquote>Heartland Media Acquisition成立于2021年，计划在纽约证券交易所上市，股票代码为HMA.U。美国银行证券和 Moelis &amp; Company 是该交易的联席账簿管理人。</blockquote></p><p></p>","source":"lsy1603787993745","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>SPAC Heartland Media Acquisition files for a $200 million IPO, led by founder of Heartland Media<blockquote>SPAC Heartland Media 收购案申请 2 亿美元 IPO，由 Heartland Media 创始人牵头</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\">\nSPAC Heartland Media Acquisition files for a $200 million IPO, led by founder of Heartland Media<blockquote>SPAC Heartland Media 收购案申请 2 亿美元 IPO，由 Heartland Media 创始人牵头</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-11-27 07:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Heartland Media Acquisition, a blank check company formed by Heartland Media targeting media, entertainment, and sports, filed on Friday with the SEC to raise up to $200 million in an initial public offering.</p><p><blockquote>Heartland Media Acquisition 是一家由 Heartland Media 成立的空白支票公司，目标是媒体、娱乐和体育，该公司于周五向 SEC 提交了首次公开募股 (IPO) 筹集高达 2 亿美元的资金。</blockquote></p><p> The Atlanta, GA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Heartland Media Acquisition would command a market value of $250 million.</p><p><blockquote>这家总部位于佐治亚州亚特兰大的公司计划通过以 10 美元的价格发行 2000 万台设备来筹集 2 亿美元。每个单位由一股普通股和半份认股权证组成，行权价为 11.50 美元。按照拟议的交易规模，Heartland Media 收购的市值将为 2.5 亿美元。</blockquote></p><p> The company is led by&nbsp;<b>CEO and Director Robert Prather Jr.</b>, the founder and CEO of Heartland Media, CEO of Allen Media Broadcasting, and former COO of Gray Television. The company plans to target the media, entertainment, and sports sectors, focusing on businesses that generate stable revenue and cash flows, have defensible market positions, and have potential for additional synergistic M&amp;A activity, among other characteristics.</p><p><blockquote>本公司由<b>首席执行官兼董事小罗伯特·普拉瑟。</b>Heartland Media 创始人兼首席执行官、Allen Media Broadcasting 首席执行官、Gray Television 前首席运营官。该公司计划瞄准媒体、娱乐和体育行业，重点关注产生稳定收入和现金流、拥有可防御的市场地位以及具有额外协同并购活动潜力等特点的业务。</blockquote></p><p> Heartland Media Acquisition was founded in 2021 and plans to list on the NYSE under the symbolHMA.U. BofA Securities and Moelis &amp; Company are the joint bookrunners on the deal.</p><p><blockquote>Heartland Media Acquisition成立于2021年，计划在纽约证券交易所上市，股票代码为HMA.U。美国银行证券和 Moelis &amp; Company 是该交易的联席账簿管理人。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/89054/SPAC-Heartland-Media-Acquisition-files-for-a-$200-million-IPO-led-by-founde\">Renaissance Capital</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":{},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/89054/SPAC-Heartland-Media-Acquisition-files-for-a-$200-million-IPO-led-by-founde","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167218984","content_text":"Heartland Media Acquisition, a blank check company formed by Heartland Media targeting media, entertainment, and sports, filed on Friday with the SEC to raise up to $200 million in an initial public offering.\nThe Atlanta, GA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Heartland Media Acquisition would command a market value of $250 million.\nThe company is led by CEO and Director Robert Prather Jr., the founder and CEO of Heartland Media, CEO of Allen Media Broadcasting, and former COO of Gray Television. The company plans to target the media, entertainment, and sports sectors, focusing on businesses that generate stable revenue and cash flows, have defensible market positions, and have potential for additional synergistic M&A activity, among other characteristics.\nHeartland Media Acquisition was founded in 2021 and plans to list on the NYSE under the symbolHMA.U. BofA Securities and Moelis & Company are the joint bookrunners on the deal.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1084,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877114409,"gmtCreate":1637897374104,"gmtModify":1637897374104,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/877114409","repostId":"1174337163","repostType":4,"repost":{"id":"1174337163","kind":"news","pubTimestamp":1637897193,"share":"https://www.laohunote.com/m/news/1174337163?lang=zh_CN&edition=full","pubTime":"2021-11-26 11:26","market":"us","language":"en","title":"Qualcomm Stock: After A Strong Rally, It Is Now A 'Hold'<blockquote>高通股票：强劲反弹后，现在“持有”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1174337163","media":"Seeking Alpha","summary":"Summary\n\nQualcomm is well-positioned to benefit from secular growth trends of 5G, IoT, and industria","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Qualcomm is well-positioned to benefit from secular growth trends of 5G, IoT, and industrial and auto connectivity.</li>  <li>Its recent operating performance has been quite good and momentum should remain strong in the next few quarters, even though growth is expected to moderate in the medium term.</li>  <li>After a strong stock rally, the upside is now more limited and investors should buy more during potential pullbacks.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7aa6af8989c0e13371421d6fed2fac8e\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>G0d4ather/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>高通处于有利地位，可以从 5G、物联网以及工业和汽车连接的长期增长趋势中受益。</li><li>其近期的经营业绩相当不错，未来几个季度的势头应该会保持强劲，尽管预计中期内增长将放缓。</li><li>在股市强劲反弹之后，上涨空间现在更加有限，投资者应该在潜在的回调期间买入更多。</li></ul><p class=\"t-img-caption\"><span>G0d4ather/iStock 社论来自 Getty Images</span></p></blockquote></p><p> <b>QUALCOMM</b>(QCOM) has interesting growth prospects over the coming years supported from 5G, IoT and industrial and auto connectivity, but its share price performance has been quite strong over the past couple of months and Qualcomm is now a ‘hold’.</p><p><blockquote><b>高通</b>在 5G、物联网以及工业和汽车连接的支持下，QCOM 在未来几年有着有趣的增长前景，但其股价表现在过去几个月中相当强劲，高通现在被 “持有”。</blockquote></p><p> <b>Background</b></p><p><blockquote><b>背景</b></blockquote></p><p> About two months ago, I have recommended Qualcomm as an interesting play in the 5G and Internet of Things (IoT) secular growth theme, even though there are some medium-term risks, such as competition from&nbsp;<b>MediaTek</b>(OTCPK:MDTKF) in the mobile segment and the possibility of losing&nbsp;<b>Apple’s</b>(AAPL) modem business.</p><p><blockquote>大约两个月前，我推荐高通作为 5G 和物联网 (IoT) 长期增长主题的有趣投资，尽管存在一些中期风险，例如来自<b>联发科</b>（OTCPK：MDTKF）在移动领域以及失败的可能性<b>苹果的</b>（AAPL）调制解调器业务。</blockquote></p><p> Since my article, Qualcomm’s share price has been on fire, up by more than 39% in about two months, supported by strong earnings and an upbeat investor day in the past week.</p><p><blockquote>自从我发表文章以来，在过去一周强劲的盈利和乐观的投资者日的支撑下，高通公司的股价一路飙升，在大约两个月内上涨了 39% 以上。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b777c551db65315946aa3d0e67786e9\" tg-width=\"258\" tg-height=\"343\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：寻求阿尔法。</span></p></blockquote></p><p> After a strong run, I think it’s time to see if Qualcomm still offers value to investors if its shares are now expensive. In this article, I review its most recent earnings and investor day, plus I check if its valuation is still attractive or not, considering Qualcomm’s medium-term earnings expectations.</p><p><blockquote>在经历了强劲的表现之后，我认为是时候看看高通是否还能为投资者提供价值了，如果高通的股价现在很昂贵。在本文中，我将回顾高通最近的财报和投资者日，并考虑到高通的中期盈利预期，检查其估值是否仍然具有吸引力。</blockquote></p><p> <b>Recent Earnings</b></p><p><blockquote><b>近期收益</b></blockquote></p><p> Qualcomm has reported positive results regarding the fourth quarter and fiscal year 2021 (FY 2021 - for the year ended on September 26, 2021), at the beginning of this month. The company reported revenues 5% higher than expected related to Q4, while its bottom-line beat estimates by close to 13%.</p><p><blockquote>本月初，高通公布了第四季度和2021财年（2021财年-截至2021年9月26日的年度）的积极业绩。该公司公布的第四季度收入比预期高出 5%，而其利润则超出预期近 13%。</blockquote></p><p> For the full fiscal year, the company was able to beat targets set at its investor day in 2019 for revenue growth and margin expansion, boding well for growth ahead.</p><p><blockquote>对于整个财年，该公司能够超越 2019 年投资者日设定的收入增长和利润率扩张目标，预示着未来的增长良好。</blockquote></p><p> In FY 2021, Qualcomm’s revenues amounted to $33.56 billion (up by 43% YoY), while its operating income was close to $10.3 billion (+80% YoY). Its net income increased by 74% YoY to more than $9 billion, reaching a net profit margin of 26.9% (vs. 22.1% in FY 2020).</p><p><blockquote>2021 财年，高通的收入达到 335.6 亿美元（同比增长 43%），而经营利润接近 103 亿美元（同比增长 80%）。其净利润同比增长 74%，超过 90 亿美元，净利润率达到 26.9%（2020 财年为 22.1%）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3ba047cfae2944b81902cd46d4028cc\" tg-width=\"640\" tg-height=\"262\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Qualcomm’s growth engine was the QCT segment (technologies), with revenue up by 64% YoY, while the licensing segment (QTL) reported 26% YoY revenue growth. In the QTL segment, Qualcomm’s growth was broad based, with radio filters and IoT being particularly strong.</p><p><blockquote>高通的增长引擎是 QCT 部门（技术），收入同比增长 64%，而授权部门（QTL）收入同比增长 26%。在 QTL 领域，高通的增长基础广泛，其中无线电滤波器和物联网领域尤为强劲。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aab453c09529203bf11d1d892cf4bb51\" tg-width=\"783\" tg-height=\"182\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Despite the company’s diversification strategy, Qualcomm is still heavily exposed to the mobile market (handsets) which represented some 62% of its QTL revenues. However, this weight is expected to gradually decrease over the next few years, as other segments such as IoT should have higher growth rates over the medium to long term, given that handsets have benefitted cyclically from the rapid shift to 5G phones over the past year.</p><p><blockquote>尽管公司采取了多元化战略，但高通仍然大量涉足移动市场（手机），该市场约占其 QTL 收入的 62%。然而，这一权重预计将在未来几年逐渐下降，因为物联网等其他细分市场在中长期内应该会有更高的增长率，因为手机在过去一年中周期性地受益于向5G手机的快速转变。</blockquote></p><p> I see these results as quite good and above my own expectations, with the company being able to report annual revenues in excess of $10 billion for RF, auto and IoT together, a great milestone for Qualcomm and more than doubled compared to FY 2019.</p><p><blockquote>我认为这些结果相当不错，超出了我自己的预期，该公司能够报告射频、汽车和物联网的年收入总计超过100亿美元，这对高通来说是一个伟大的里程碑，与2019财年相比增长了一倍多。</blockquote></p><p> This clearly shows that Qualcomm’s diversification strategy is progressing well and execution has been positive, which increases confidence on future growth targets. Beyond that, the current chip shortage is also impacting Qualcomm’s business, like for everyone else in the industry, making its recent growth even more impressive.</p><p><blockquote>这清楚地表明，高通的多元化战略进展顺利，执行情况良好，这增强了对未来增长目标的信心。除此之外，目前的芯片短缺也在影响高通的业务，就像业内其他公司一样，这使得高通最近的增长更加令人印象深刻。</blockquote></p><p> Regarding its shareholder remuneration policy, during the last fiscal year, Qualcomm has made close to $3.4 billion in stock repurchases and distributed dividends of $3 billion. Thus, its total capital return to shareholders amounted to $6.4 billion, which represented more than 70% of its bottom-line. However, its dividend yield is only about 1.5%, thus I see Qualcomm mainly as a ‘growth’ play, while income is not high enough to be a reason to buy Qualcomm’s shares.</p><p><blockquote>在股东薪酬政策方面，上一财年，高通进行了近34亿美元的股票回购，并派发了30亿美元的股息。因此，其股东总资本回报达64亿美元，占其利润的70%以上。然而，其股息收益率仅为 1.5% 左右，因此我认为高通主要是一家 “成长型 ”公司，而收入还不足以成为购买高通股票的理由。</blockquote></p><p></p><p> Qualcomm’s outlook for the next quarter is also positive, with the company expecting more than $10 billion in revenues and diluted EPS in the range $2.53-2.73. Even though Qualcomm’s business has some seasonality, Q1 is usually a stronger quarter, this outlook implies annual revenues close to $40 billion, or up by 19% compared to the previous FY.</p><p><blockquote>高通对下一季度的前景也是乐观的，该公司预计营收将超过 100 亿美元，稀释后每股收益在 2.53-2.73 美元之间。尽管高通的业务有一定的季节性，但第一季度通常是一个更强劲的季度，但这一前景意味着年收入将接近 400 亿美元，比上一财年增长 19%。</blockquote></p><p> This is in-line with current street expectations, given that the current consensus is for FY 2022 revenues of $39.5 billion, showing that Qualcomm’s recent growth is not temporary.</p><p><blockquote>这符合华尔街目前的预期，因为目前的共识是 2022 财年的营收为 395 亿美元，这表明高通最近的增长不是暂时的。</blockquote></p><p> On the other hand, as I’ve highlighted as a potential risk in my previous analysis, there were additional rumors recently that<b>Apple</b>(AAPL) will use its own 5G modem chip in 2023, instead of using Qualcomm’s chips. It is difficult to quantify how much revenue will Qualcomm lose from this, but certainly will be material and is a potential headwind for revenue and earnings growth in the medium term that investors should be aware of.</p><p><blockquote>另一方面，正如我在之前的分析中强调的潜在风险，最近又有传言称<b>苹果</b>(AAPL) 将在 2023 年使用自己的 5G 调制解调器芯片，而不是高通的芯片。很难量化高通将因此损失多少收入，但肯定会是重大的，并且是投资者应该意识到的中期收入和盈利增长的潜在阻力。</blockquote></p><p> Nevertheless, the company has recently shown in its investor day that its business is well exposed to some secular growth trends, such as IoT or car and industrial connectivity powered by 5G. This bodes well for its growth prospects over the next few years, and also to smooth the impact of losing some business from Apple.</p><p><blockquote>尽管如此，该公司最近在投资者日表明，其业务很容易受到一些长期增长趋势的影响，例如物联网或5G驱动的汽车和工业连接。这对其未来几年的增长前景来说是个好兆头，也可以减轻失去苹果部分业务的影响。</blockquote></p><p> <b>Investor Day</b></p><p><blockquote><b>投资者日</b></blockquote></p><p> As I’ve discussed previously on Qualcomm, the company is well-positioned to benefit from secular growth trends of 5G and IoT, considering that it has adapted its product portfolio quite well in recent years for the expected higher demand for these wireless technologies over the next few years, beyond the mobile industry.</p><p><blockquote>正如我之前在高通公司讨论过的那样，考虑到该公司近年来已经很好地调整了产品组合，以适应未来几年移动行业以外对这些无线技术的预期更高需求，该公司完全有能力从 5G 和物联网的长期增长趋势中受益。</blockquote></p><p> Its growth strategy has been to diversify its product offering so that it can offer solutions and products for more industries and different type of customers, namely in the automotive or the industrial sectors, increasing Qualcomm’s total addressable market and higher long-term growth prospects than relying too much on the mobile industry.</p><p><blockquote>高通的增长战略一直是实现产品多元化，以便为更多行业和不同类型的客户（即汽车或工业领域）提供解决方案和产品，从而增加高通的总目标市场和更高的长期增长前景，而不是过度依赖移动行业。</blockquote></p><p> The company has several technologies for mobile and connectivity that have great growth prospects due to the ongoing digital transformation, which is not expected to slow down in the future. Indeed, in its recent investor day, Qualcomm said that its total addressable market is expected to expand significantly over the next decade, from about $100 billion currently to some $700 billion by 2030. This is justified by the rising number of devices that are expected to be connected to the internet, generating a vast amount of data, being a strong tailwind for the company’s growth ahead.</p><p><blockquote>由于正在进行的数字化转型，该公司拥有几项移动和连接技术，这些技术具有巨大的增长前景，预计未来不会放缓。事实上，在最近的投资者日，高通表示，其总潜在市场预计将在未来十年大幅扩张，从目前的约 1000 亿美元增加到 2030 年的约 7000 亿美元。这是因为预计连接到互联网的设备数量不断增加，会产生大量数据，这将为公司未来的发展提供强劲的推动力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1b9b8a9143bcaf8706b35feb39aac5ca\" tg-width=\"640\" tg-height=\"226\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Qualcomm also discussed again its technologies spanning several end-markets beyond handsets, with IoT, automotive or virtual reality devices being, in my opinion, segments that are still relatively small for the company and have great growth prospects to become a sizable part of Qualcomm’s business in the next few years. For instance, Qualcomm targets annual revenues from IoT of around $9 billion by FY 2024, compared to $5 billion last year, while in Automotive it expects to grow from annual revenues of $1 billion last year to around $3.5 billion in five years.</p><p><blockquote>高通还再次讨论了其横跨手机以外几个终端市场的技术，在我看来，物联网、汽车或虚拟现实设备对公司来说仍然相对较小，但在未来几年将成为高通业务的重要组成部分。例如，高通的目标是到 2024 财年物联网年收入约为 90 亿美元，而去年为 50 亿美元，而在汽车领域，预计五年内将从去年的 10 亿美元年收入增长到约 35 亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ebe04cb81f8fa2aba439f6f5309780c2\" tg-width=\"640\" tg-height=\"218\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> In the mobile segment, Qualcomm also sees good long-term growth prospects due to 5G, with 5G handsets expected to gradually increase the weight in total shipments to about 85% by fiscal year 2024 and double from the total shipments delivered in the last year.</p><p><blockquote>在移动领域，高通也看到了5G带来的良好长期增长前景，预计到2024财年，5G手机在总出货量中的份额将逐渐增加到85%左右，是去年总出货量的两倍。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/552a1a716059d719fc6e64b861f09a8d\" tg-width=\"602\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Regarding its capital structure and shareholder remuneration policy, Qualcomm intends to maintain its policy of distributing a large part of its free cash flow to shareholders, both through a growing dividend and opportunistic share buybacks. As the company’s financial leverage is strong, measured by its net debt-to-EBITDA ratio below 0.5x at the end of FY 2021, it doesn’t need to retain much cash so I expect Qualcomm to distribute close to 100% of its free cash flow to shareholders over the next few years.</p><p><blockquote>关于其资本结构和股东薪酬政策，高通打算维持其将大部分自由现金流分配给股东的政策，包括增加股息和机会主义股票回购。由于该公司的财务杠杆很强，从 2021 财年末的净债务与 EBITDA 的比率低于 0.5 倍来看，它不需要保留太多现金，因此我预计高通将在未来几年内将接近 100% 的自由现金流分配给股东。</blockquote></p><p> However, this could change if the company pursues acquisitions, especially if it performs a large acquisition financed mainly by debt. That would increase the company’s financial leverage and, most likely, its strategy would then change towards reducing leverage in subsequent years until it reaches again a strong balance sheet as it has today.</p><p><blockquote>然而，如果公司寻求收购，特别是如果它进行主要通过债务融资的大型收购，这种情况可能会发生变化。这将增加公司的财务杠杆率，很可能在随后的几年里，公司的战略会转向降低杠杆率，直到再次实现像今天这样强劲的资产负债表。</blockquote></p><p> <b>Estimates &amp; Valuation</b></p><p><blockquote><b>估计及估值</b></blockquote></p><p></p><p> Regarding medium-term&nbsp;estimates, Qualcomm’s revenues are expected to grow at about 7.3% per year, over the next four years, slowing down significantly compared to FY 2021. I think these are conservative estimates and there is upside potential for upward revisions over the coming months if operating momentum remains strong.</p><p><blockquote>关于中期预测，高通未来四年的收入预计将以每年 7.3% 左右的速度增长，与 2021 财年相比将大幅放缓。我认为这些都是保守的估计，如果经营势头保持强劲，未来几个月仍有向上修正的潜力。</blockquote></p><p> For the fiscal year 2025, revenues are expected to be about $44 billion, which seems too much low considering that for FY 2022 revenues are expected to be around $40 billion. I’m more bullish than current consensus and see revenues of around $50 billion by FY 2025, expecting annual revenue growth of around 7-8% per year between FY 2023 and 2025, which I think is still quite conservative.</p><p><blockquote>2025 财年的收入预计约为 440 亿美元，考虑到 2022 财年的收入预计约为 400 亿美元，这个数字似乎太低了。我比目前的共识更乐观，预计到 2025 财年收入将达到 500 亿美元左右，预计 2023 财年至 2025 财年期间的年收入增长率约为 7-8%，我认为这仍然相当保守。</blockquote></p><p> Its bottom-line is expected to increase to more than $14 billion in FY 2025 in my estimates, slightly above consensus because I’m expecting higher revenues, which implies an EPS of around $12 by FY 2025.</p><p><blockquote>据我估计，到 2025 财年，该公司的利润预计将增至 140 亿美元以上，略高于共识，因为我预计收入会更高，这意味着到 2025 财年，每股收益将达到 12 美元左右。</blockquote></p><p> Regarding valuation, my approach is to look into the next few years of revenues and earnings rather than just focus on this year or the next, to see if the stock has upside potential over a time frame of two to four years. Therefore, I use FY 2025 estimates to see if Qualcomm’s stock has upside potential over the medium term or not.</p><p><blockquote>关于估值，我的方法是研究未来几年的收入和盈利，而不仅仅是关注今年或明年，看看该股在两到四年的时间范围内是否有上涨潜力。因此，我使用 2025 财年的预测来判断高通的股票在中期内是否有上涨潜力。</blockquote></p><p> Based on Qualcomm’s EPS estimate of $12 by FY 2025 and its historical valuation multiple over the past couple of years regarding its blended forward earnings (next 12 months) of 17.3x, my price target for Qualcomm by September 2024 is $207 per share.</p><p><blockquote>根据高通公司到 2025 财年的每股收益估计为 12 美元，以及过去几年混合远期收益（未来 12 个月）17.3 倍的历史估值倍数，我对高通公司到 2024 年 9 月的目标价为每股 207 美元。</blockquote></p><p> This means that Qualcomm’s upside potential, based on these assumptions, is about 15% over the next three years, which is not impressive and show that a good part of its growth in the medium term is already reflected in its share price.</p><p><blockquote>这意味着，根据这些假设，高通未来三年的上涨潜力约为 15%，这并不令人印象深刻，也表明其中期增长的很大一部分已经反映在其股价上。</blockquote></p><p> Note that over the past two years Qualcomm’s forward earnings multiple has been somewhat volatile, trading between 13-22x forward earnings. When I wrote my previous article on Qualcomm, its shares were trading at the bottom of this range and the stock was clearly a buy, while now is trading close to its historical value. This means that there is more upside potential over the medium term, as Qualcomm is clearly well-positioned to benefit from 5G, IoT, and industrial and automotive connectivity, thus a re-rating to higher multiples is possible in the next couple of years.</p><p><blockquote>请注意，在过去两年中，高通的远期市盈率有些波动，在远期市盈率的 13-22 倍之间波动。当我写上一篇关于高通的文章时，其股价处于该区间的底部，该股显然值得买入，而现在的交易价格接近其历史价值。这意味着中期有更大的上行潜力，因为高通显然处于有利地位，可以从 5G、物联网以及工业和汽车连接中受益，因此未来几年有可能将评级重新评级至更高的倍数。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cb82ba4ac66c3ed8128484453fc4730c\" tg-width=\"1280\" tg-height=\"204\" width=\"100%\" height=\"auto\"><span>Source: Bloomberg.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：彭博社。</span></p></blockquote></p><p> <b>Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> Qualcomm’s operating momentum has improved markedly in recent quarters and growth prospects are good in the coming years, as the company’s product diversification strategy is making good progress and is expected to support growth in coming years.</p><p><blockquote>高通的经营势头在最近几个季度有了明显改善，未来几年的增长前景良好，因为该公司的产品多元化战略进展顺利，预计将支持未来几年的增长。</blockquote></p><p> However, its stock has rapidly incorporated improved fundamentals with the company’s recent earnings and investor day, and now upside potential is more limited than it was a couple of months ago. Investors who are exposed to Qualcomm should ‘hold’ and buy more during potential pullbacks in the future.</p><p><blockquote>然而，随着公司最近的财报和投资者日的公布，该公司股价的基本面迅速改善，现在的上涨潜力比几个月前更加有限。接触高通的投资者应该 “持有”，并在未来可能出现的回调中买入更多。</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>Qualcomm Stock: After A Strong Rally, It Is Now A 'Hold'<blockquote>高通股票：强劲反弹后，现在“持有”</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nQualcomm Stock: After A Strong Rally, It Is Now A 'Hold'<blockquote>高通股票：强劲反弹后，现在“持有”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-11-26 11:26</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>Qualcomm is well-positioned to benefit from secular growth trends of 5G, IoT, and industrial and auto connectivity.</li>  <li>Its recent operating performance has been quite good and momentum should remain strong in the next few quarters, even though growth is expected to moderate in the medium term.</li>  <li>After a strong stock rally, the upside is now more limited and investors should buy more during potential pullbacks.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7aa6af8989c0e13371421d6fed2fac8e\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>G0d4ather/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>高通处于有利地位，可以从 5G、物联网以及工业和汽车连接的长期增长趋势中受益。</li><li>其近期的经营业绩相当不错，未来几个季度的势头应该会保持强劲，尽管预计中期内增长将放缓。</li><li>在股市强劲反弹之后，上涨空间现在更加有限，投资者应该在潜在的回调期间买入更多。</li></ul><p class=\"t-img-caption\"><span>G0d4ather/iStock 社论来自 Getty Images</span></p></blockquote></p><p> <b>QUALCOMM</b>(QCOM) has interesting growth prospects over the coming years supported from 5G, IoT and industrial and auto connectivity, but its share price performance has been quite strong over the past couple of months and Qualcomm is now a ‘hold’.</p><p><blockquote><b>高通</b>在 5G、物联网以及工业和汽车连接的支持下，QCOM 在未来几年有着有趣的增长前景，但其股价表现在过去几个月中相当强劲，高通现在被 “持有”。</blockquote></p><p> <b>Background</b></p><p><blockquote><b>背景</b></blockquote></p><p> About two months ago, I have recommended Qualcomm as an interesting play in the 5G and Internet of Things (IoT) secular growth theme, even though there are some medium-term risks, such as competition from&nbsp;<b>MediaTek</b>(OTCPK:MDTKF) in the mobile segment and the possibility of losing&nbsp;<b>Apple’s</b>(AAPL) modem business.</p><p><blockquote>大约两个月前，我推荐高通作为 5G 和物联网 (IoT) 长期增长主题的有趣投资，尽管存在一些中期风险，例如来自<b>联发科</b>（OTCPK：MDTKF）在移动领域以及失败的可能性<b>苹果的</b>（AAPL）调制解调器业务。</blockquote></p><p> Since my article, Qualcomm’s share price has been on fire, up by more than 39% in about two months, supported by strong earnings and an upbeat investor day in the past week.</p><p><blockquote>自从我发表文章以来，在过去一周强劲的盈利和乐观的投资者日的支撑下，高通公司的股价一路飙升，在大约两个月内上涨了 39% 以上。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b777c551db65315946aa3d0e67786e9\" tg-width=\"258\" tg-height=\"343\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：寻求阿尔法。</span></p></blockquote></p><p> After a strong run, I think it’s time to see if Qualcomm still offers value to investors if its shares are now expensive. In this article, I review its most recent earnings and investor day, plus I check if its valuation is still attractive or not, considering Qualcomm’s medium-term earnings expectations.</p><p><blockquote>在经历了强劲的表现之后，我认为是时候看看高通是否还能为投资者提供价值了，如果高通的股价现在很昂贵。在本文中，我将回顾高通最近的财报和投资者日，并考虑到高通的中期盈利预期，检查其估值是否仍然具有吸引力。</blockquote></p><p> <b>Recent Earnings</b></p><p><blockquote><b>近期收益</b></blockquote></p><p> Qualcomm has reported positive results regarding the fourth quarter and fiscal year 2021 (FY 2021 - for the year ended on September 26, 2021), at the beginning of this month. The company reported revenues 5% higher than expected related to Q4, while its bottom-line beat estimates by close to 13%.</p><p><blockquote>本月初，高通公布了第四季度和2021财年（2021财年-截至2021年9月26日的年度）的积极业绩。该公司公布的第四季度收入比预期高出 5%，而其利润则超出预期近 13%。</blockquote></p><p> For the full fiscal year, the company was able to beat targets set at its investor day in 2019 for revenue growth and margin expansion, boding well for growth ahead.</p><p><blockquote>对于整个财年，该公司能够超越 2019 年投资者日设定的收入增长和利润率扩张目标，预示着未来的增长良好。</blockquote></p><p> In FY 2021, Qualcomm’s revenues amounted to $33.56 billion (up by 43% YoY), while its operating income was close to $10.3 billion (+80% YoY). Its net income increased by 74% YoY to more than $9 billion, reaching a net profit margin of 26.9% (vs. 22.1% in FY 2020).</p><p><blockquote>2021 财年，高通的收入达到 335.6 亿美元（同比增长 43%），而经营利润接近 103 亿美元（同比增长 80%）。其净利润同比增长 74%，超过 90 亿美元，净利润率达到 26.9%（2020 财年为 22.1%）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3ba047cfae2944b81902cd46d4028cc\" tg-width=\"640\" tg-height=\"262\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Qualcomm’s growth engine was the QCT segment (technologies), with revenue up by 64% YoY, while the licensing segment (QTL) reported 26% YoY revenue growth. In the QTL segment, Qualcomm’s growth was broad based, with radio filters and IoT being particularly strong.</p><p><blockquote>高通的增长引擎是 QCT 部门（技术），收入同比增长 64%，而授权部门（QTL）收入同比增长 26%。在 QTL 领域，高通的增长基础广泛，其中无线电滤波器和物联网领域尤为强劲。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aab453c09529203bf11d1d892cf4bb51\" tg-width=\"783\" tg-height=\"182\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Despite the company’s diversification strategy, Qualcomm is still heavily exposed to the mobile market (handsets) which represented some 62% of its QTL revenues. However, this weight is expected to gradually decrease over the next few years, as other segments such as IoT should have higher growth rates over the medium to long term, given that handsets have benefitted cyclically from the rapid shift to 5G phones over the past year.</p><p><blockquote>尽管公司采取了多元化战略，但高通仍然大量涉足移动市场（手机），该市场约占其 QTL 收入的 62%。然而，这一权重预计将在未来几年逐渐下降，因为物联网等其他细分市场在中长期内应该会有更高的增长率，因为手机在过去一年中周期性地受益于向5G手机的快速转变。</blockquote></p><p> I see these results as quite good and above my own expectations, with the company being able to report annual revenues in excess of $10 billion for RF, auto and IoT together, a great milestone for Qualcomm and more than doubled compared to FY 2019.</p><p><blockquote>我认为这些结果相当不错，超出了我自己的预期，该公司能够报告射频、汽车和物联网的年收入总计超过100亿美元，这对高通来说是一个伟大的里程碑，与2019财年相比增长了一倍多。</blockquote></p><p> This clearly shows that Qualcomm’s diversification strategy is progressing well and execution has been positive, which increases confidence on future growth targets. Beyond that, the current chip shortage is also impacting Qualcomm’s business, like for everyone else in the industry, making its recent growth even more impressive.</p><p><blockquote>这清楚地表明，高通的多元化战略进展顺利，执行情况良好，这增强了对未来增长目标的信心。除此之外，目前的芯片短缺也在影响高通的业务，就像业内其他公司一样，这使得高通最近的增长更加令人印象深刻。</blockquote></p><p> Regarding its shareholder remuneration policy, during the last fiscal year, Qualcomm has made close to $3.4 billion in stock repurchases and distributed dividends of $3 billion. Thus, its total capital return to shareholders amounted to $6.4 billion, which represented more than 70% of its bottom-line. However, its dividend yield is only about 1.5%, thus I see Qualcomm mainly as a ‘growth’ play, while income is not high enough to be a reason to buy Qualcomm’s shares.</p><p><blockquote>在股东薪酬政策方面，上一财年，高通进行了近34亿美元的股票回购，并派发了30亿美元的股息。因此，其股东总资本回报达64亿美元，占其利润的70%以上。然而，其股息收益率仅为 1.5% 左右，因此我认为高通主要是一家 “成长型 ”公司，而收入还不足以成为购买高通股票的理由。</blockquote></p><p></p><p> Qualcomm’s outlook for the next quarter is also positive, with the company expecting more than $10 billion in revenues and diluted EPS in the range $2.53-2.73. Even though Qualcomm’s business has some seasonality, Q1 is usually a stronger quarter, this outlook implies annual revenues close to $40 billion, or up by 19% compared to the previous FY.</p><p><blockquote>高通对下一季度的前景也是乐观的，该公司预计营收将超过 100 亿美元，稀释后每股收益在 2.53-2.73 美元之间。尽管高通的业务有一定的季节性，但第一季度通常是一个更强劲的季度，但这一前景意味着年收入将接近 400 亿美元，比上一财年增长 19%。</blockquote></p><p> This is in-line with current street expectations, given that the current consensus is for FY 2022 revenues of $39.5 billion, showing that Qualcomm’s recent growth is not temporary.</p><p><blockquote>这符合华尔街目前的预期，因为目前的共识是 2022 财年的营收为 395 亿美元，这表明高通最近的增长不是暂时的。</blockquote></p><p> On the other hand, as I’ve highlighted as a potential risk in my previous analysis, there were additional rumors recently that<b>Apple</b>(AAPL) will use its own 5G modem chip in 2023, instead of using Qualcomm’s chips. It is difficult to quantify how much revenue will Qualcomm lose from this, but certainly will be material and is a potential headwind for revenue and earnings growth in the medium term that investors should be aware of.</p><p><blockquote>另一方面，正如我在之前的分析中强调的潜在风险，最近又有传言称<b>苹果</b>(AAPL) 将在 2023 年使用自己的 5G 调制解调器芯片，而不是高通的芯片。很难量化高通将因此损失多少收入，但肯定会是重大的，并且是投资者应该意识到的中期收入和盈利增长的潜在阻力。</blockquote></p><p> Nevertheless, the company has recently shown in its investor day that its business is well exposed to some secular growth trends, such as IoT or car and industrial connectivity powered by 5G. This bodes well for its growth prospects over the next few years, and also to smooth the impact of losing some business from Apple.</p><p><blockquote>尽管如此，该公司最近在投资者日表明，其业务很容易受到一些长期增长趋势的影响，例如物联网或5G驱动的汽车和工业连接。这对其未来几年的增长前景来说是个好兆头，也可以减轻失去苹果部分业务的影响。</blockquote></p><p> <b>Investor Day</b></p><p><blockquote><b>投资者日</b></blockquote></p><p> As I’ve discussed previously on Qualcomm, the company is well-positioned to benefit from secular growth trends of 5G and IoT, considering that it has adapted its product portfolio quite well in recent years for the expected higher demand for these wireless technologies over the next few years, beyond the mobile industry.</p><p><blockquote>正如我之前在高通公司讨论过的那样，考虑到该公司近年来已经很好地调整了产品组合，以适应未来几年移动行业以外对这些无线技术的预期更高需求，该公司完全有能力从 5G 和物联网的长期增长趋势中受益。</blockquote></p><p> Its growth strategy has been to diversify its product offering so that it can offer solutions and products for more industries and different type of customers, namely in the automotive or the industrial sectors, increasing Qualcomm’s total addressable market and higher long-term growth prospects than relying too much on the mobile industry.</p><p><blockquote>高通的增长战略一直是实现产品多元化，以便为更多行业和不同类型的客户（即汽车或工业领域）提供解决方案和产品，从而增加高通的总目标市场和更高的长期增长前景，而不是过度依赖移动行业。</blockquote></p><p> The company has several technologies for mobile and connectivity that have great growth prospects due to the ongoing digital transformation, which is not expected to slow down in the future. Indeed, in its recent investor day, Qualcomm said that its total addressable market is expected to expand significantly over the next decade, from about $100 billion currently to some $700 billion by 2030. This is justified by the rising number of devices that are expected to be connected to the internet, generating a vast amount of data, being a strong tailwind for the company’s growth ahead.</p><p><blockquote>由于正在进行的数字化转型，该公司拥有几项移动和连接技术，这些技术具有巨大的增长前景，预计未来不会放缓。事实上，在最近的投资者日，高通表示，其总潜在市场预计将在未来十年大幅扩张，从目前的约 1000 亿美元增加到 2030 年的约 7000 亿美元。这是因为预计连接到互联网的设备数量不断增加，会产生大量数据，这将为公司未来的发展提供强劲的推动力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1b9b8a9143bcaf8706b35feb39aac5ca\" tg-width=\"640\" tg-height=\"226\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Qualcomm also discussed again its technologies spanning several end-markets beyond handsets, with IoT, automotive or virtual reality devices being, in my opinion, segments that are still relatively small for the company and have great growth prospects to become a sizable part of Qualcomm’s business in the next few years. For instance, Qualcomm targets annual revenues from IoT of around $9 billion by FY 2024, compared to $5 billion last year, while in Automotive it expects to grow from annual revenues of $1 billion last year to around $3.5 billion in five years.</p><p><blockquote>高通还再次讨论了其横跨手机以外几个终端市场的技术，在我看来，物联网、汽车或虚拟现实设备对公司来说仍然相对较小，但在未来几年将成为高通业务的重要组成部分。例如，高通的目标是到 2024 财年物联网年收入约为 90 亿美元，而去年为 50 亿美元，而在汽车领域，预计五年内将从去年的 10 亿美元年收入增长到约 35 亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ebe04cb81f8fa2aba439f6f5309780c2\" tg-width=\"640\" tg-height=\"218\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> In the mobile segment, Qualcomm also sees good long-term growth prospects due to 5G, with 5G handsets expected to gradually increase the weight in total shipments to about 85% by fiscal year 2024 and double from the total shipments delivered in the last year.</p><p><blockquote>在移动领域，高通也看到了5G带来的良好长期增长前景，预计到2024财年，5G手机在总出货量中的份额将逐渐增加到85%左右，是去年总出货量的两倍。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/552a1a716059d719fc6e64b861f09a8d\" tg-width=\"602\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Regarding its capital structure and shareholder remuneration policy, Qualcomm intends to maintain its policy of distributing a large part of its free cash flow to shareholders, both through a growing dividend and opportunistic share buybacks. As the company’s financial leverage is strong, measured by its net debt-to-EBITDA ratio below 0.5x at the end of FY 2021, it doesn’t need to retain much cash so I expect Qualcomm to distribute close to 100% of its free cash flow to shareholders over the next few years.</p><p><blockquote>关于其资本结构和股东薪酬政策，高通打算维持其将大部分自由现金流分配给股东的政策，包括增加股息和机会主义股票回购。由于该公司的财务杠杆很强，从 2021 财年末的净债务与 EBITDA 的比率低于 0.5 倍来看，它不需要保留太多现金，因此我预计高通将在未来几年内将接近 100% 的自由现金流分配给股东。</blockquote></p><p> However, this could change if the company pursues acquisitions, especially if it performs a large acquisition financed mainly by debt. That would increase the company’s financial leverage and, most likely, its strategy would then change towards reducing leverage in subsequent years until it reaches again a strong balance sheet as it has today.</p><p><blockquote>然而，如果公司寻求收购，特别是如果它进行主要通过债务融资的大型收购，这种情况可能会发生变化。这将增加公司的财务杠杆率，很可能在随后的几年里，公司的战略会转向降低杠杆率，直到再次实现像今天这样强劲的资产负债表。</blockquote></p><p> <b>Estimates &amp; Valuation</b></p><p><blockquote><b>估计及估值</b></blockquote></p><p></p><p> Regarding medium-term&nbsp;estimates, Qualcomm’s revenues are expected to grow at about 7.3% per year, over the next four years, slowing down significantly compared to FY 2021. I think these are conservative estimates and there is upside potential for upward revisions over the coming months if operating momentum remains strong.</p><p><blockquote>关于中期预测，高通未来四年的收入预计将以每年 7.3% 左右的速度增长，与 2021 财年相比将大幅放缓。我认为这些都是保守的估计，如果经营势头保持强劲，未来几个月仍有向上修正的潜力。</blockquote></p><p> For the fiscal year 2025, revenues are expected to be about $44 billion, which seems too much low considering that for FY 2022 revenues are expected to be around $40 billion. I’m more bullish than current consensus and see revenues of around $50 billion by FY 2025, expecting annual revenue growth of around 7-8% per year between FY 2023 and 2025, which I think is still quite conservative.</p><p><blockquote>2025 财年的收入预计约为 440 亿美元，考虑到 2022 财年的收入预计约为 400 亿美元，这个数字似乎太低了。我比目前的共识更乐观，预计到 2025 财年收入将达到 500 亿美元左右，预计 2023 财年至 2025 财年期间的年收入增长率约为 7-8%，我认为这仍然相当保守。</blockquote></p><p> Its bottom-line is expected to increase to more than $14 billion in FY 2025 in my estimates, slightly above consensus because I’m expecting higher revenues, which implies an EPS of around $12 by FY 2025.</p><p><blockquote>据我估计，到 2025 财年，该公司的利润预计将增至 140 亿美元以上，略高于共识，因为我预计收入会更高，这意味着到 2025 财年，每股收益将达到 12 美元左右。</blockquote></p><p> Regarding valuation, my approach is to look into the next few years of revenues and earnings rather than just focus on this year or the next, to see if the stock has upside potential over a time frame of two to four years. Therefore, I use FY 2025 estimates to see if Qualcomm’s stock has upside potential over the medium term or not.</p><p><blockquote>关于估值，我的方法是研究未来几年的收入和盈利，而不仅仅是关注今年或明年，看看该股在两到四年的时间范围内是否有上涨潜力。因此，我使用 2025 财年的预测来判断高通的股票在中期内是否有上涨潜力。</blockquote></p><p> Based on Qualcomm’s EPS estimate of $12 by FY 2025 and its historical valuation multiple over the past couple of years regarding its blended forward earnings (next 12 months) of 17.3x, my price target for Qualcomm by September 2024 is $207 per share.</p><p><blockquote>根据高通公司到 2025 财年的每股收益估计为 12 美元，以及过去几年混合远期收益（未来 12 个月）17.3 倍的历史估值倍数，我对高通公司到 2024 年 9 月的目标价为每股 207 美元。</blockquote></p><p> This means that Qualcomm’s upside potential, based on these assumptions, is about 15% over the next three years, which is not impressive and show that a good part of its growth in the medium term is already reflected in its share price.</p><p><blockquote>这意味着，根据这些假设，高通未来三年的上涨潜力约为 15%，这并不令人印象深刻，也表明其中期增长的很大一部分已经反映在其股价上。</blockquote></p><p> Note that over the past two years Qualcomm’s forward earnings multiple has been somewhat volatile, trading between 13-22x forward earnings. When I wrote my previous article on Qualcomm, its shares were trading at the bottom of this range and the stock was clearly a buy, while now is trading close to its historical value. This means that there is more upside potential over the medium term, as Qualcomm is clearly well-positioned to benefit from 5G, IoT, and industrial and automotive connectivity, thus a re-rating to higher multiples is possible in the next couple of years.</p><p><blockquote>请注意，在过去两年中，高通的远期市盈率有些波动，在远期市盈率的 13-22 倍之间波动。当我写上一篇关于高通的文章时，其股价处于该区间的底部，该股显然值得买入，而现在的交易价格接近其历史价值。这意味着中期有更大的上行潜力，因为高通显然处于有利地位，可以从 5G、物联网以及工业和汽车连接中受益，因此未来几年有可能将评级重新评级至更高的倍数。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cb82ba4ac66c3ed8128484453fc4730c\" tg-width=\"1280\" tg-height=\"204\" width=\"100%\" height=\"auto\"><span>Source: Bloomberg.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：彭博社。</span></p></blockquote></p><p> <b>Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> Qualcomm’s operating momentum has improved markedly in recent quarters and growth prospects are good in the coming years, as the company’s product diversification strategy is making good progress and is expected to support growth in coming years.</p><p><blockquote>高通的经营势头在最近几个季度有了明显改善，未来几年的增长前景良好，因为该公司的产品多元化战略进展顺利，预计将支持未来几年的增长。</blockquote></p><p> However, its stock has rapidly incorporated improved fundamentals with the company’s recent earnings and investor day, and now upside potential is more limited than it was a couple of months ago. Investors who are exposed to Qualcomm should ‘hold’ and buy more during potential pullbacks in the future.</p><p><blockquote>然而，随着公司最近的财报和投资者日的公布，该公司股价的基本面迅速改善，现在的上涨潜力比几个月前更加有限。接触高通的投资者应该 “持有”，并在未来可能出现的回调中买入更多。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4471977-qualcomm-stock-strong-rally-now-hold\">Seeking Alpha</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":{"QCOM":"高通"},"source_url":"https://seekingalpha.com/article/4471977-qualcomm-stock-strong-rally-now-hold","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174337163","content_text":"Summary\n\nQualcomm is well-positioned to benefit from secular growth trends of 5G, IoT, and industrial and auto connectivity.\nIts recent operating performance has been quite good and momentum should remain strong in the next few quarters, even though growth is expected to moderate in the medium term.\nAfter a strong stock rally, the upside is now more limited and investors should buy more during potential pullbacks.\n\nG0d4ather/iStock Editorial via Getty Images\nQUALCOMM(QCOM) has interesting growth prospects over the coming years supported from 5G, IoT and industrial and auto connectivity, but its share price performance has been quite strong over the past couple of months and Qualcomm is now a ‘hold’.\nBackground\nAbout two months ago, I have recommended Qualcomm as an interesting play in the 5G and Internet of Things (IoT) secular growth theme, even though there are some medium-term risks, such as competition from MediaTek(OTCPK:MDTKF) in the mobile segment and the possibility of losing Apple’s(AAPL) modem business.\nSince my article, Qualcomm’s share price has been on fire, up by more than 39% in about two months, supported by strong earnings and an upbeat investor day in the past week.\nSource: Seeking Alpha.\nAfter a strong run, I think it’s time to see if Qualcomm still offers value to investors if its shares are now expensive. In this article, I review its most recent earnings and investor day, plus I check if its valuation is still attractive or not, considering Qualcomm’s medium-term earnings expectations.\nRecent Earnings\nQualcomm has reported positive results regarding the fourth quarter and fiscal year 2021 (FY 2021 - for the year ended on September 26, 2021), at the beginning of this month. The company reported revenues 5% higher than expected related to Q4, while its bottom-line beat estimates by close to 13%.\nFor the full fiscal year, the company was able to beat targets set at its investor day in 2019 for revenue growth and margin expansion, boding well for growth ahead.\nIn FY 2021, Qualcomm’s revenues amounted to $33.56 billion (up by 43% YoY), while its operating income was close to $10.3 billion (+80% YoY). Its net income increased by 74% YoY to more than $9 billion, reaching a net profit margin of 26.9% (vs. 22.1% in FY 2020).\nSource: Qualcomm.\nQualcomm’s growth engine was the QCT segment (technologies), with revenue up by 64% YoY, while the licensing segment (QTL) reported 26% YoY revenue growth. In the QTL segment, Qualcomm’s growth was broad based, with radio filters and IoT being particularly strong.\nSource: Qualcomm.\nDespite the company’s diversification strategy, Qualcomm is still heavily exposed to the mobile market (handsets) which represented some 62% of its QTL revenues. However, this weight is expected to gradually decrease over the next few years, as other segments such as IoT should have higher growth rates over the medium to long term, given that handsets have benefitted cyclically from the rapid shift to 5G phones over the past year.\nI see these results as quite good and above my own expectations, with the company being able to report annual revenues in excess of $10 billion for RF, auto and IoT together, a great milestone for Qualcomm and more than doubled compared to FY 2019.\nThis clearly shows that Qualcomm’s diversification strategy is progressing well and execution has been positive, which increases confidence on future growth targets. Beyond that, the current chip shortage is also impacting Qualcomm’s business, like for everyone else in the industry, making its recent growth even more impressive.\nRegarding its shareholder remuneration policy, during the last fiscal year, Qualcomm has made close to $3.4 billion in stock repurchases and distributed dividends of $3 billion. Thus, its total capital return to shareholders amounted to $6.4 billion, which represented more than 70% of its bottom-line. However, its dividend yield is only about 1.5%, thus I see Qualcomm mainly as a ‘growth’ play, while income is not high enough to be a reason to buy Qualcomm’s shares.\nQualcomm’s outlook for the next quarter is also positive, with the company expecting more than $10 billion in revenues and diluted EPS in the range $2.53-2.73. Even though Qualcomm’s business has some seasonality, Q1 is usually a stronger quarter, this outlook implies annual revenues close to $40 billion, or up by 19% compared to the previous FY.\nThis is in-line with current street expectations, given that the current consensus is for FY 2022 revenues of $39.5 billion, showing that Qualcomm’s recent growth is not temporary.\nOn the other hand, as I’ve highlighted as a potential risk in my previous analysis, there were additional rumors recently thatApple(AAPL) will use its own 5G modem chip in 2023, instead of using Qualcomm’s chips. It is difficult to quantify how much revenue will Qualcomm lose from this, but certainly will be material and is a potential headwind for revenue and earnings growth in the medium term that investors should be aware of.\nNevertheless, the company has recently shown in its investor day that its business is well exposed to some secular growth trends, such as IoT or car and industrial connectivity powered by 5G. This bodes well for its growth prospects over the next few years, and also to smooth the impact of losing some business from Apple.\nInvestor Day\nAs I’ve discussed previously on Qualcomm, the company is well-positioned to benefit from secular growth trends of 5G and IoT, considering that it has adapted its product portfolio quite well in recent years for the expected higher demand for these wireless technologies over the next few years, beyond the mobile industry.\nIts growth strategy has been to diversify its product offering so that it can offer solutions and products for more industries and different type of customers, namely in the automotive or the industrial sectors, increasing Qualcomm’s total addressable market and higher long-term growth prospects than relying too much on the mobile industry.\nThe company has several technologies for mobile and connectivity that have great growth prospects due to the ongoing digital transformation, which is not expected to slow down in the future. Indeed, in its recent investor day, Qualcomm said that its total addressable market is expected to expand significantly over the next decade, from about $100 billion currently to some $700 billion by 2030. This is justified by the rising number of devices that are expected to be connected to the internet, generating a vast amount of data, being a strong tailwind for the company’s growth ahead.\nSource: Qualcomm.\nQualcomm also discussed again its technologies spanning several end-markets beyond handsets, with IoT, automotive or virtual reality devices being, in my opinion, segments that are still relatively small for the company and have great growth prospects to become a sizable part of Qualcomm’s business in the next few years. For instance, Qualcomm targets annual revenues from IoT of around $9 billion by FY 2024, compared to $5 billion last year, while in Automotive it expects to grow from annual revenues of $1 billion last year to around $3.5 billion in five years.\nSource: Qualcomm.\nIn the mobile segment, Qualcomm also sees good long-term growth prospects due to 5G, with 5G handsets expected to gradually increase the weight in total shipments to about 85% by fiscal year 2024 and double from the total shipments delivered in the last year.\nSource: Qualcomm.\nRegarding its capital structure and shareholder remuneration policy, Qualcomm intends to maintain its policy of distributing a large part of its free cash flow to shareholders, both through a growing dividend and opportunistic share buybacks. As the company’s financial leverage is strong, measured by its net debt-to-EBITDA ratio below 0.5x at the end of FY 2021, it doesn’t need to retain much cash so I expect Qualcomm to distribute close to 100% of its free cash flow to shareholders over the next few years.\nHowever, this could change if the company pursues acquisitions, especially if it performs a large acquisition financed mainly by debt. That would increase the company’s financial leverage and, most likely, its strategy would then change towards reducing leverage in subsequent years until it reaches again a strong balance sheet as it has today.\nEstimates & Valuation\nRegarding medium-term estimates, Qualcomm’s revenues are expected to grow at about 7.3% per year, over the next four years, slowing down significantly compared to FY 2021. I think these are conservative estimates and there is upside potential for upward revisions over the coming months if operating momentum remains strong.\nFor the fiscal year 2025, revenues are expected to be about $44 billion, which seems too much low considering that for FY 2022 revenues are expected to be around $40 billion. I’m more bullish than current consensus and see revenues of around $50 billion by FY 2025, expecting annual revenue growth of around 7-8% per year between FY 2023 and 2025, which I think is still quite conservative.\nIts bottom-line is expected to increase to more than $14 billion in FY 2025 in my estimates, slightly above consensus because I’m expecting higher revenues, which implies an EPS of around $12 by FY 2025.\nRegarding valuation, my approach is to look into the next few years of revenues and earnings rather than just focus on this year or the next, to see if the stock has upside potential over a time frame of two to four years. Therefore, I use FY 2025 estimates to see if Qualcomm’s stock has upside potential over the medium term or not.\nBased on Qualcomm’s EPS estimate of $12 by FY 2025 and its historical valuation multiple over the past couple of years regarding its blended forward earnings (next 12 months) of 17.3x, my price target for Qualcomm by September 2024 is $207 per share.\nThis means that Qualcomm’s upside potential, based on these assumptions, is about 15% over the next three years, which is not impressive and show that a good part of its growth in the medium term is already reflected in its share price.\nNote that over the past two years Qualcomm’s forward earnings multiple has been somewhat volatile, trading between 13-22x forward earnings. When I wrote my previous article on Qualcomm, its shares were trading at the bottom of this range and the stock was clearly a buy, while now is trading close to its historical value. This means that there is more upside potential over the medium term, as Qualcomm is clearly well-positioned to benefit from 5G, IoT, and industrial and automotive connectivity, thus a re-rating to higher multiples is possible in the next couple of years.\nSource: Bloomberg.\nBottom Line\nQualcomm’s operating momentum has improved markedly in recent quarters and growth prospects are good in the coming years, as the company’s product diversification strategy is making good progress and is expected to support growth in coming years.\nHowever, its stock has rapidly incorporated improved fundamentals with the company’s recent earnings and investor day, and now upside potential is more limited than it was a couple of months ago. Investors who are exposed to Qualcomm should ‘hold’ and buy more during potential pullbacks in the future.","news_type":1,"symbols_score_info":{"QCOM":0.9}},"isVote":1,"tweetType":1,"viewCount":1541,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":877114409,"gmtCreate":1637897374104,"gmtModify":1637897374104,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/877114409","repostId":"1174337163","repostType":4,"repost":{"id":"1174337163","kind":"news","pubTimestamp":1637897193,"share":"https://www.laohunote.com/m/news/1174337163?lang=zh_CN&edition=full","pubTime":"2021-11-26 11:26","market":"us","language":"en","title":"Qualcomm Stock: After A Strong Rally, It Is Now A 'Hold'<blockquote>高通股票：强劲反弹后，现在“持有”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1174337163","media":"Seeking Alpha","summary":"Summary\n\nQualcomm is well-positioned to benefit from secular growth trends of 5G, IoT, and industria","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Qualcomm is well-positioned to benefit from secular growth trends of 5G, IoT, and industrial and auto connectivity.</li>  <li>Its recent operating performance has been quite good and momentum should remain strong in the next few quarters, even though growth is expected to moderate in the medium term.</li>  <li>After a strong stock rally, the upside is now more limited and investors should buy more during potential pullbacks.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7aa6af8989c0e13371421d6fed2fac8e\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>G0d4ather/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>高通处于有利地位，可以从 5G、物联网以及工业和汽车连接的长期增长趋势中受益。</li><li>其近期的经营业绩相当不错，未来几个季度的势头应该会保持强劲，尽管预计中期内增长将放缓。</li><li>在股市强劲反弹之后，上涨空间现在更加有限，投资者应该在潜在的回调期间买入更多。</li></ul><p class=\"t-img-caption\"><span>G0d4ather/iStock 社论来自 Getty Images</span></p></blockquote></p><p> <b>QUALCOMM</b>(QCOM) has interesting growth prospects over the coming years supported from 5G, IoT and industrial and auto connectivity, but its share price performance has been quite strong over the past couple of months and Qualcomm is now a ‘hold’.</p><p><blockquote><b>高通</b>在 5G、物联网以及工业和汽车连接的支持下，QCOM 在未来几年有着有趣的增长前景，但其股价表现在过去几个月中相当强劲，高通现在被 “持有”。</blockquote></p><p> <b>Background</b></p><p><blockquote><b>背景</b></blockquote></p><p> About two months ago, I have recommended Qualcomm as an interesting play in the 5G and Internet of Things (IoT) secular growth theme, even though there are some medium-term risks, such as competition from&nbsp;<b>MediaTek</b>(OTCPK:MDTKF) in the mobile segment and the possibility of losing&nbsp;<b>Apple’s</b>(AAPL) modem business.</p><p><blockquote>大约两个月前，我推荐高通作为 5G 和物联网 (IoT) 长期增长主题的有趣投资，尽管存在一些中期风险，例如来自<b>联发科</b>（OTCPK：MDTKF）在移动领域以及失败的可能性<b>苹果的</b>（AAPL）调制解调器业务。</blockquote></p><p> Since my article, Qualcomm’s share price has been on fire, up by more than 39% in about two months, supported by strong earnings and an upbeat investor day in the past week.</p><p><blockquote>自从我发表文章以来，在过去一周强劲的盈利和乐观的投资者日的支撑下，高通公司的股价一路飙升，在大约两个月内上涨了 39% 以上。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b777c551db65315946aa3d0e67786e9\" tg-width=\"258\" tg-height=\"343\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：寻求阿尔法。</span></p></blockquote></p><p> After a strong run, I think it’s time to see if Qualcomm still offers value to investors if its shares are now expensive. In this article, I review its most recent earnings and investor day, plus I check if its valuation is still attractive or not, considering Qualcomm’s medium-term earnings expectations.</p><p><blockquote>在经历了强劲的表现之后，我认为是时候看看高通是否还能为投资者提供价值了，如果高通的股价现在很昂贵。在本文中，我将回顾高通最近的财报和投资者日，并考虑到高通的中期盈利预期，检查其估值是否仍然具有吸引力。</blockquote></p><p> <b>Recent Earnings</b></p><p><blockquote><b>近期收益</b></blockquote></p><p> Qualcomm has reported positive results regarding the fourth quarter and fiscal year 2021 (FY 2021 - for the year ended on September 26, 2021), at the beginning of this month. The company reported revenues 5% higher than expected related to Q4, while its bottom-line beat estimates by close to 13%.</p><p><blockquote>本月初，高通公布了第四季度和2021财年（2021财年-截至2021年9月26日的年度）的积极业绩。该公司公布的第四季度收入比预期高出 5%，而其利润则超出预期近 13%。</blockquote></p><p> For the full fiscal year, the company was able to beat targets set at its investor day in 2019 for revenue growth and margin expansion, boding well for growth ahead.</p><p><blockquote>对于整个财年，该公司能够超越 2019 年投资者日设定的收入增长和利润率扩张目标，预示着未来的增长良好。</blockquote></p><p> In FY 2021, Qualcomm’s revenues amounted to $33.56 billion (up by 43% YoY), while its operating income was close to $10.3 billion (+80% YoY). Its net income increased by 74% YoY to more than $9 billion, reaching a net profit margin of 26.9% (vs. 22.1% in FY 2020).</p><p><blockquote>2021 财年，高通的收入达到 335.6 亿美元（同比增长 43%），而经营利润接近 103 亿美元（同比增长 80%）。其净利润同比增长 74%，超过 90 亿美元，净利润率达到 26.9%（2020 财年为 22.1%）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3ba047cfae2944b81902cd46d4028cc\" tg-width=\"640\" tg-height=\"262\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Qualcomm’s growth engine was the QCT segment (technologies), with revenue up by 64% YoY, while the licensing segment (QTL) reported 26% YoY revenue growth. In the QTL segment, Qualcomm’s growth was broad based, with radio filters and IoT being particularly strong.</p><p><blockquote>高通的增长引擎是 QCT 部门（技术），收入同比增长 64%，而授权部门（QTL）收入同比增长 26%。在 QTL 领域，高通的增长基础广泛，其中无线电滤波器和物联网领域尤为强劲。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aab453c09529203bf11d1d892cf4bb51\" tg-width=\"783\" tg-height=\"182\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Despite the company’s diversification strategy, Qualcomm is still heavily exposed to the mobile market (handsets) which represented some 62% of its QTL revenues. However, this weight is expected to gradually decrease over the next few years, as other segments such as IoT should have higher growth rates over the medium to long term, given that handsets have benefitted cyclically from the rapid shift to 5G phones over the past year.</p><p><blockquote>尽管公司采取了多元化战略，但高通仍然大量涉足移动市场（手机），该市场约占其 QTL 收入的 62%。然而，这一权重预计将在未来几年逐渐下降，因为物联网等其他细分市场在中长期内应该会有更高的增长率，因为手机在过去一年中周期性地受益于向5G手机的快速转变。</blockquote></p><p> I see these results as quite good and above my own expectations, with the company being able to report annual revenues in excess of $10 billion for RF, auto and IoT together, a great milestone for Qualcomm and more than doubled compared to FY 2019.</p><p><blockquote>我认为这些结果相当不错，超出了我自己的预期，该公司能够报告射频、汽车和物联网的年收入总计超过100亿美元，这对高通来说是一个伟大的里程碑，与2019财年相比增长了一倍多。</blockquote></p><p> This clearly shows that Qualcomm’s diversification strategy is progressing well and execution has been positive, which increases confidence on future growth targets. Beyond that, the current chip shortage is also impacting Qualcomm’s business, like for everyone else in the industry, making its recent growth even more impressive.</p><p><blockquote>这清楚地表明，高通的多元化战略进展顺利，执行情况良好，这增强了对未来增长目标的信心。除此之外，目前的芯片短缺也在影响高通的业务，就像业内其他公司一样，这使得高通最近的增长更加令人印象深刻。</blockquote></p><p> Regarding its shareholder remuneration policy, during the last fiscal year, Qualcomm has made close to $3.4 billion in stock repurchases and distributed dividends of $3 billion. Thus, its total capital return to shareholders amounted to $6.4 billion, which represented more than 70% of its bottom-line. However, its dividend yield is only about 1.5%, thus I see Qualcomm mainly as a ‘growth’ play, while income is not high enough to be a reason to buy Qualcomm’s shares.</p><p><blockquote>在股东薪酬政策方面，上一财年，高通进行了近34亿美元的股票回购，并派发了30亿美元的股息。因此，其股东总资本回报达64亿美元，占其利润的70%以上。然而，其股息收益率仅为 1.5% 左右，因此我认为高通主要是一家 “成长型 ”公司，而收入还不足以成为购买高通股票的理由。</blockquote></p><p></p><p> Qualcomm’s outlook for the next quarter is also positive, with the company expecting more than $10 billion in revenues and diluted EPS in the range $2.53-2.73. Even though Qualcomm’s business has some seasonality, Q1 is usually a stronger quarter, this outlook implies annual revenues close to $40 billion, or up by 19% compared to the previous FY.</p><p><blockquote>高通对下一季度的前景也是乐观的，该公司预计营收将超过 100 亿美元，稀释后每股收益在 2.53-2.73 美元之间。尽管高通的业务有一定的季节性，但第一季度通常是一个更强劲的季度，但这一前景意味着年收入将接近 400 亿美元，比上一财年增长 19%。</blockquote></p><p> This is in-line with current street expectations, given that the current consensus is for FY 2022 revenues of $39.5 billion, showing that Qualcomm’s recent growth is not temporary.</p><p><blockquote>这符合华尔街目前的预期，因为目前的共识是 2022 财年的营收为 395 亿美元，这表明高通最近的增长不是暂时的。</blockquote></p><p> On the other hand, as I’ve highlighted as a potential risk in my previous analysis, there were additional rumors recently that<b>Apple</b>(AAPL) will use its own 5G modem chip in 2023, instead of using Qualcomm’s chips. It is difficult to quantify how much revenue will Qualcomm lose from this, but certainly will be material and is a potential headwind for revenue and earnings growth in the medium term that investors should be aware of.</p><p><blockquote>另一方面，正如我在之前的分析中强调的潜在风险，最近又有传言称<b>苹果</b>(AAPL) 将在 2023 年使用自己的 5G 调制解调器芯片，而不是高通的芯片。很难量化高通将因此损失多少收入，但肯定会是重大的，并且是投资者应该意识到的中期收入和盈利增长的潜在阻力。</blockquote></p><p> Nevertheless, the company has recently shown in its investor day that its business is well exposed to some secular growth trends, such as IoT or car and industrial connectivity powered by 5G. This bodes well for its growth prospects over the next few years, and also to smooth the impact of losing some business from Apple.</p><p><blockquote>尽管如此，该公司最近在投资者日表明，其业务很容易受到一些长期增长趋势的影响，例如物联网或5G驱动的汽车和工业连接。这对其未来几年的增长前景来说是个好兆头，也可以减轻失去苹果部分业务的影响。</blockquote></p><p> <b>Investor Day</b></p><p><blockquote><b>投资者日</b></blockquote></p><p> As I’ve discussed previously on Qualcomm, the company is well-positioned to benefit from secular growth trends of 5G and IoT, considering that it has adapted its product portfolio quite well in recent years for the expected higher demand for these wireless technologies over the next few years, beyond the mobile industry.</p><p><blockquote>正如我之前在高通公司讨论过的那样，考虑到该公司近年来已经很好地调整了产品组合，以适应未来几年移动行业以外对这些无线技术的预期更高需求，该公司完全有能力从 5G 和物联网的长期增长趋势中受益。</blockquote></p><p> Its growth strategy has been to diversify its product offering so that it can offer solutions and products for more industries and different type of customers, namely in the automotive or the industrial sectors, increasing Qualcomm’s total addressable market and higher long-term growth prospects than relying too much on the mobile industry.</p><p><blockquote>高通的增长战略一直是实现产品多元化，以便为更多行业和不同类型的客户（即汽车或工业领域）提供解决方案和产品，从而增加高通的总目标市场和更高的长期增长前景，而不是过度依赖移动行业。</blockquote></p><p> The company has several technologies for mobile and connectivity that have great growth prospects due to the ongoing digital transformation, which is not expected to slow down in the future. Indeed, in its recent investor day, Qualcomm said that its total addressable market is expected to expand significantly over the next decade, from about $100 billion currently to some $700 billion by 2030. This is justified by the rising number of devices that are expected to be connected to the internet, generating a vast amount of data, being a strong tailwind for the company’s growth ahead.</p><p><blockquote>由于正在进行的数字化转型，该公司拥有几项移动和连接技术，这些技术具有巨大的增长前景，预计未来不会放缓。事实上，在最近的投资者日，高通表示，其总潜在市场预计将在未来十年大幅扩张，从目前的约 1000 亿美元增加到 2030 年的约 7000 亿美元。这是因为预计连接到互联网的设备数量不断增加，会产生大量数据，这将为公司未来的发展提供强劲的推动力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1b9b8a9143bcaf8706b35feb39aac5ca\" tg-width=\"640\" tg-height=\"226\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Qualcomm also discussed again its technologies spanning several end-markets beyond handsets, with IoT, automotive or virtual reality devices being, in my opinion, segments that are still relatively small for the company and have great growth prospects to become a sizable part of Qualcomm’s business in the next few years. For instance, Qualcomm targets annual revenues from IoT of around $9 billion by FY 2024, compared to $5 billion last year, while in Automotive it expects to grow from annual revenues of $1 billion last year to around $3.5 billion in five years.</p><p><blockquote>高通还再次讨论了其横跨手机以外几个终端市场的技术，在我看来，物联网、汽车或虚拟现实设备对公司来说仍然相对较小，但在未来几年将成为高通业务的重要组成部分。例如，高通的目标是到 2024 财年物联网年收入约为 90 亿美元，而去年为 50 亿美元，而在汽车领域，预计五年内将从去年的 10 亿美元年收入增长到约 35 亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ebe04cb81f8fa2aba439f6f5309780c2\" tg-width=\"640\" tg-height=\"218\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> In the mobile segment, Qualcomm also sees good long-term growth prospects due to 5G, with 5G handsets expected to gradually increase the weight in total shipments to about 85% by fiscal year 2024 and double from the total shipments delivered in the last year.</p><p><blockquote>在移动领域，高通也看到了5G带来的良好长期增长前景，预计到2024财年，5G手机在总出货量中的份额将逐渐增加到85%左右，是去年总出货量的两倍。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/552a1a716059d719fc6e64b861f09a8d\" tg-width=\"602\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Regarding its capital structure and shareholder remuneration policy, Qualcomm intends to maintain its policy of distributing a large part of its free cash flow to shareholders, both through a growing dividend and opportunistic share buybacks. As the company’s financial leverage is strong, measured by its net debt-to-EBITDA ratio below 0.5x at the end of FY 2021, it doesn’t need to retain much cash so I expect Qualcomm to distribute close to 100% of its free cash flow to shareholders over the next few years.</p><p><blockquote>关于其资本结构和股东薪酬政策，高通打算维持其将大部分自由现金流分配给股东的政策，包括增加股息和机会主义股票回购。由于该公司的财务杠杆很强，从 2021 财年末的净债务与 EBITDA 的比率低于 0.5 倍来看，它不需要保留太多现金，因此我预计高通将在未来几年内将接近 100% 的自由现金流分配给股东。</blockquote></p><p> However, this could change if the company pursues acquisitions, especially if it performs a large acquisition financed mainly by debt. That would increase the company’s financial leverage and, most likely, its strategy would then change towards reducing leverage in subsequent years until it reaches again a strong balance sheet as it has today.</p><p><blockquote>然而，如果公司寻求收购，特别是如果它进行主要通过债务融资的大型收购，这种情况可能会发生变化。这将增加公司的财务杠杆率，很可能在随后的几年里，公司的战略会转向降低杠杆率，直到再次实现像今天这样强劲的资产负债表。</blockquote></p><p> <b>Estimates &amp; Valuation</b></p><p><blockquote><b>估计及估值</b></blockquote></p><p></p><p> Regarding medium-term&nbsp;estimates, Qualcomm’s revenues are expected to grow at about 7.3% per year, over the next four years, slowing down significantly compared to FY 2021. I think these are conservative estimates and there is upside potential for upward revisions over the coming months if operating momentum remains strong.</p><p><blockquote>关于中期预测，高通未来四年的收入预计将以每年 7.3% 左右的速度增长，与 2021 财年相比将大幅放缓。我认为这些都是保守的估计，如果经营势头保持强劲，未来几个月仍有向上修正的潜力。</blockquote></p><p> For the fiscal year 2025, revenues are expected to be about $44 billion, which seems too much low considering that for FY 2022 revenues are expected to be around $40 billion. I’m more bullish than current consensus and see revenues of around $50 billion by FY 2025, expecting annual revenue growth of around 7-8% per year between FY 2023 and 2025, which I think is still quite conservative.</p><p><blockquote>2025 财年的收入预计约为 440 亿美元，考虑到 2022 财年的收入预计约为 400 亿美元，这个数字似乎太低了。我比目前的共识更乐观，预计到 2025 财年收入将达到 500 亿美元左右，预计 2023 财年至 2025 财年期间的年收入增长率约为 7-8%，我认为这仍然相当保守。</blockquote></p><p> Its bottom-line is expected to increase to more than $14 billion in FY 2025 in my estimates, slightly above consensus because I’m expecting higher revenues, which implies an EPS of around $12 by FY 2025.</p><p><blockquote>据我估计，到 2025 财年，该公司的利润预计将增至 140 亿美元以上，略高于共识，因为我预计收入会更高，这意味着到 2025 财年，每股收益将达到 12 美元左右。</blockquote></p><p> Regarding valuation, my approach is to look into the next few years of revenues and earnings rather than just focus on this year or the next, to see if the stock has upside potential over a time frame of two to four years. Therefore, I use FY 2025 estimates to see if Qualcomm’s stock has upside potential over the medium term or not.</p><p><blockquote>关于估值，我的方法是研究未来几年的收入和盈利，而不仅仅是关注今年或明年，看看该股在两到四年的时间范围内是否有上涨潜力。因此，我使用 2025 财年的预测来判断高通的股票在中期内是否有上涨潜力。</blockquote></p><p> Based on Qualcomm’s EPS estimate of $12 by FY 2025 and its historical valuation multiple over the past couple of years regarding its blended forward earnings (next 12 months) of 17.3x, my price target for Qualcomm by September 2024 is $207 per share.</p><p><blockquote>根据高通公司到 2025 财年的每股收益估计为 12 美元，以及过去几年混合远期收益（未来 12 个月）17.3 倍的历史估值倍数，我对高通公司到 2024 年 9 月的目标价为每股 207 美元。</blockquote></p><p> This means that Qualcomm’s upside potential, based on these assumptions, is about 15% over the next three years, which is not impressive and show that a good part of its growth in the medium term is already reflected in its share price.</p><p><blockquote>这意味着，根据这些假设，高通未来三年的上涨潜力约为 15%，这并不令人印象深刻，也表明其中期增长的很大一部分已经反映在其股价上。</blockquote></p><p> Note that over the past two years Qualcomm’s forward earnings multiple has been somewhat volatile, trading between 13-22x forward earnings. When I wrote my previous article on Qualcomm, its shares were trading at the bottom of this range and the stock was clearly a buy, while now is trading close to its historical value. This means that there is more upside potential over the medium term, as Qualcomm is clearly well-positioned to benefit from 5G, IoT, and industrial and automotive connectivity, thus a re-rating to higher multiples is possible in the next couple of years.</p><p><blockquote>请注意，在过去两年中，高通的远期市盈率有些波动，在远期市盈率的 13-22 倍之间波动。当我写上一篇关于高通的文章时，其股价处于该区间的底部，该股显然值得买入，而现在的交易价格接近其历史价值。这意味着中期有更大的上行潜力，因为高通显然处于有利地位，可以从 5G、物联网以及工业和汽车连接中受益，因此未来几年有可能将评级重新评级至更高的倍数。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cb82ba4ac66c3ed8128484453fc4730c\" tg-width=\"1280\" tg-height=\"204\" width=\"100%\" height=\"auto\"><span>Source: Bloomberg.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：彭博社。</span></p></blockquote></p><p> <b>Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> Qualcomm’s operating momentum has improved markedly in recent quarters and growth prospects are good in the coming years, as the company’s product diversification strategy is making good progress and is expected to support growth in coming years.</p><p><blockquote>高通的经营势头在最近几个季度有了明显改善，未来几年的增长前景良好，因为该公司的产品多元化战略进展顺利，预计将支持未来几年的增长。</blockquote></p><p> However, its stock has rapidly incorporated improved fundamentals with the company’s recent earnings and investor day, and now upside potential is more limited than it was a couple of months ago. Investors who are exposed to Qualcomm should ‘hold’ and buy more during potential pullbacks in the future.</p><p><blockquote>然而，随着公司最近的财报和投资者日的公布，该公司股价的基本面迅速改善，现在的上涨潜力比几个月前更加有限。接触高通的投资者应该 “持有”，并在未来可能出现的回调中买入更多。</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>Qualcomm Stock: After A Strong Rally, It Is Now A 'Hold'<blockquote>高通股票：强劲反弹后，现在“持有”</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nQualcomm Stock: After A Strong Rally, It Is Now A 'Hold'<blockquote>高通股票：强劲反弹后，现在“持有”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-11-26 11:26</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>Qualcomm is well-positioned to benefit from secular growth trends of 5G, IoT, and industrial and auto connectivity.</li>  <li>Its recent operating performance has been quite good and momentum should remain strong in the next few quarters, even though growth is expected to moderate in the medium term.</li>  <li>After a strong stock rally, the upside is now more limited and investors should buy more during potential pullbacks.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7aa6af8989c0e13371421d6fed2fac8e\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>G0d4ather/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>高通处于有利地位，可以从 5G、物联网以及工业和汽车连接的长期增长趋势中受益。</li><li>其近期的经营业绩相当不错，未来几个季度的势头应该会保持强劲，尽管预计中期内增长将放缓。</li><li>在股市强劲反弹之后，上涨空间现在更加有限，投资者应该在潜在的回调期间买入更多。</li></ul><p class=\"t-img-caption\"><span>G0d4ather/iStock 社论来自 Getty Images</span></p></blockquote></p><p> <b>QUALCOMM</b>(QCOM) has interesting growth prospects over the coming years supported from 5G, IoT and industrial and auto connectivity, but its share price performance has been quite strong over the past couple of months and Qualcomm is now a ‘hold’.</p><p><blockquote><b>高通</b>在 5G、物联网以及工业和汽车连接的支持下，QCOM 在未来几年有着有趣的增长前景，但其股价表现在过去几个月中相当强劲，高通现在被 “持有”。</blockquote></p><p> <b>Background</b></p><p><blockquote><b>背景</b></blockquote></p><p> About two months ago, I have recommended Qualcomm as an interesting play in the 5G and Internet of Things (IoT) secular growth theme, even though there are some medium-term risks, such as competition from&nbsp;<b>MediaTek</b>(OTCPK:MDTKF) in the mobile segment and the possibility of losing&nbsp;<b>Apple’s</b>(AAPL) modem business.</p><p><blockquote>大约两个月前，我推荐高通作为 5G 和物联网 (IoT) 长期增长主题的有趣投资，尽管存在一些中期风险，例如来自<b>联发科</b>（OTCPK：MDTKF）在移动领域以及失败的可能性<b>苹果的</b>（AAPL）调制解调器业务。</blockquote></p><p> Since my article, Qualcomm’s share price has been on fire, up by more than 39% in about two months, supported by strong earnings and an upbeat investor day in the past week.</p><p><blockquote>自从我发表文章以来，在过去一周强劲的盈利和乐观的投资者日的支撑下，高通公司的股价一路飙升，在大约两个月内上涨了 39% 以上。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b777c551db65315946aa3d0e67786e9\" tg-width=\"258\" tg-height=\"343\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：寻求阿尔法。</span></p></blockquote></p><p> After a strong run, I think it’s time to see if Qualcomm still offers value to investors if its shares are now expensive. In this article, I review its most recent earnings and investor day, plus I check if its valuation is still attractive or not, considering Qualcomm’s medium-term earnings expectations.</p><p><blockquote>在经历了强劲的表现之后，我认为是时候看看高通是否还能为投资者提供价值了，如果高通的股价现在很昂贵。在本文中，我将回顾高通最近的财报和投资者日，并考虑到高通的中期盈利预期，检查其估值是否仍然具有吸引力。</blockquote></p><p> <b>Recent Earnings</b></p><p><blockquote><b>近期收益</b></blockquote></p><p> Qualcomm has reported positive results regarding the fourth quarter and fiscal year 2021 (FY 2021 - for the year ended on September 26, 2021), at the beginning of this month. The company reported revenues 5% higher than expected related to Q4, while its bottom-line beat estimates by close to 13%.</p><p><blockquote>本月初，高通公布了第四季度和2021财年（2021财年-截至2021年9月26日的年度）的积极业绩。该公司公布的第四季度收入比预期高出 5%，而其利润则超出预期近 13%。</blockquote></p><p> For the full fiscal year, the company was able to beat targets set at its investor day in 2019 for revenue growth and margin expansion, boding well for growth ahead.</p><p><blockquote>对于整个财年，该公司能够超越 2019 年投资者日设定的收入增长和利润率扩张目标，预示着未来的增长良好。</blockquote></p><p> In FY 2021, Qualcomm’s revenues amounted to $33.56 billion (up by 43% YoY), while its operating income was close to $10.3 billion (+80% YoY). Its net income increased by 74% YoY to more than $9 billion, reaching a net profit margin of 26.9% (vs. 22.1% in FY 2020).</p><p><blockquote>2021 财年，高通的收入达到 335.6 亿美元（同比增长 43%），而经营利润接近 103 亿美元（同比增长 80%）。其净利润同比增长 74%，超过 90 亿美元，净利润率达到 26.9%（2020 财年为 22.1%）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3ba047cfae2944b81902cd46d4028cc\" tg-width=\"640\" tg-height=\"262\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Qualcomm’s growth engine was the QCT segment (technologies), with revenue up by 64% YoY, while the licensing segment (QTL) reported 26% YoY revenue growth. In the QTL segment, Qualcomm’s growth was broad based, with radio filters and IoT being particularly strong.</p><p><blockquote>高通的增长引擎是 QCT 部门（技术），收入同比增长 64%，而授权部门（QTL）收入同比增长 26%。在 QTL 领域，高通的增长基础广泛，其中无线电滤波器和物联网领域尤为强劲。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aab453c09529203bf11d1d892cf4bb51\" tg-width=\"783\" tg-height=\"182\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Despite the company’s diversification strategy, Qualcomm is still heavily exposed to the mobile market (handsets) which represented some 62% of its QTL revenues. However, this weight is expected to gradually decrease over the next few years, as other segments such as IoT should have higher growth rates over the medium to long term, given that handsets have benefitted cyclically from the rapid shift to 5G phones over the past year.</p><p><blockquote>尽管公司采取了多元化战略，但高通仍然大量涉足移动市场（手机），该市场约占其 QTL 收入的 62%。然而，这一权重预计将在未来几年逐渐下降，因为物联网等其他细分市场在中长期内应该会有更高的增长率，因为手机在过去一年中周期性地受益于向5G手机的快速转变。</blockquote></p><p> I see these results as quite good and above my own expectations, with the company being able to report annual revenues in excess of $10 billion for RF, auto and IoT together, a great milestone for Qualcomm and more than doubled compared to FY 2019.</p><p><blockquote>我认为这些结果相当不错，超出了我自己的预期，该公司能够报告射频、汽车和物联网的年收入总计超过100亿美元，这对高通来说是一个伟大的里程碑，与2019财年相比增长了一倍多。</blockquote></p><p> This clearly shows that Qualcomm’s diversification strategy is progressing well and execution has been positive, which increases confidence on future growth targets. Beyond that, the current chip shortage is also impacting Qualcomm’s business, like for everyone else in the industry, making its recent growth even more impressive.</p><p><blockquote>这清楚地表明，高通的多元化战略进展顺利，执行情况良好，这增强了对未来增长目标的信心。除此之外，目前的芯片短缺也在影响高通的业务，就像业内其他公司一样，这使得高通最近的增长更加令人印象深刻。</blockquote></p><p> Regarding its shareholder remuneration policy, during the last fiscal year, Qualcomm has made close to $3.4 billion in stock repurchases and distributed dividends of $3 billion. Thus, its total capital return to shareholders amounted to $6.4 billion, which represented more than 70% of its bottom-line. However, its dividend yield is only about 1.5%, thus I see Qualcomm mainly as a ‘growth’ play, while income is not high enough to be a reason to buy Qualcomm’s shares.</p><p><blockquote>在股东薪酬政策方面，上一财年，高通进行了近34亿美元的股票回购，并派发了30亿美元的股息。因此，其股东总资本回报达64亿美元，占其利润的70%以上。然而，其股息收益率仅为 1.5% 左右，因此我认为高通主要是一家 “成长型 ”公司，而收入还不足以成为购买高通股票的理由。</blockquote></p><p></p><p> Qualcomm’s outlook for the next quarter is also positive, with the company expecting more than $10 billion in revenues and diluted EPS in the range $2.53-2.73. Even though Qualcomm’s business has some seasonality, Q1 is usually a stronger quarter, this outlook implies annual revenues close to $40 billion, or up by 19% compared to the previous FY.</p><p><blockquote>高通对下一季度的前景也是乐观的，该公司预计营收将超过 100 亿美元，稀释后每股收益在 2.53-2.73 美元之间。尽管高通的业务有一定的季节性，但第一季度通常是一个更强劲的季度，但这一前景意味着年收入将接近 400 亿美元，比上一财年增长 19%。</blockquote></p><p> This is in-line with current street expectations, given that the current consensus is for FY 2022 revenues of $39.5 billion, showing that Qualcomm’s recent growth is not temporary.</p><p><blockquote>这符合华尔街目前的预期，因为目前的共识是 2022 财年的营收为 395 亿美元，这表明高通最近的增长不是暂时的。</blockquote></p><p> On the other hand, as I’ve highlighted as a potential risk in my previous analysis, there were additional rumors recently that<b>Apple</b>(AAPL) will use its own 5G modem chip in 2023, instead of using Qualcomm’s chips. It is difficult to quantify how much revenue will Qualcomm lose from this, but certainly will be material and is a potential headwind for revenue and earnings growth in the medium term that investors should be aware of.</p><p><blockquote>另一方面，正如我在之前的分析中强调的潜在风险，最近又有传言称<b>苹果</b>(AAPL) 将在 2023 年使用自己的 5G 调制解调器芯片，而不是高通的芯片。很难量化高通将因此损失多少收入，但肯定会是重大的，并且是投资者应该意识到的中期收入和盈利增长的潜在阻力。</blockquote></p><p> Nevertheless, the company has recently shown in its investor day that its business is well exposed to some secular growth trends, such as IoT or car and industrial connectivity powered by 5G. This bodes well for its growth prospects over the next few years, and also to smooth the impact of losing some business from Apple.</p><p><blockquote>尽管如此，该公司最近在投资者日表明，其业务很容易受到一些长期增长趋势的影响，例如物联网或5G驱动的汽车和工业连接。这对其未来几年的增长前景来说是个好兆头，也可以减轻失去苹果部分业务的影响。</blockquote></p><p> <b>Investor Day</b></p><p><blockquote><b>投资者日</b></blockquote></p><p> As I’ve discussed previously on Qualcomm, the company is well-positioned to benefit from secular growth trends of 5G and IoT, considering that it has adapted its product portfolio quite well in recent years for the expected higher demand for these wireless technologies over the next few years, beyond the mobile industry.</p><p><blockquote>正如我之前在高通公司讨论过的那样，考虑到该公司近年来已经很好地调整了产品组合，以适应未来几年移动行业以外对这些无线技术的预期更高需求，该公司完全有能力从 5G 和物联网的长期增长趋势中受益。</blockquote></p><p> Its growth strategy has been to diversify its product offering so that it can offer solutions and products for more industries and different type of customers, namely in the automotive or the industrial sectors, increasing Qualcomm’s total addressable market and higher long-term growth prospects than relying too much on the mobile industry.</p><p><blockquote>高通的增长战略一直是实现产品多元化，以便为更多行业和不同类型的客户（即汽车或工业领域）提供解决方案和产品，从而增加高通的总目标市场和更高的长期增长前景，而不是过度依赖移动行业。</blockquote></p><p> The company has several technologies for mobile and connectivity that have great growth prospects due to the ongoing digital transformation, which is not expected to slow down in the future. Indeed, in its recent investor day, Qualcomm said that its total addressable market is expected to expand significantly over the next decade, from about $100 billion currently to some $700 billion by 2030. This is justified by the rising number of devices that are expected to be connected to the internet, generating a vast amount of data, being a strong tailwind for the company’s growth ahead.</p><p><blockquote>由于正在进行的数字化转型，该公司拥有几项移动和连接技术，这些技术具有巨大的增长前景，预计未来不会放缓。事实上，在最近的投资者日，高通表示，其总潜在市场预计将在未来十年大幅扩张，从目前的约 1000 亿美元增加到 2030 年的约 7000 亿美元。这是因为预计连接到互联网的设备数量不断增加，会产生大量数据，这将为公司未来的发展提供强劲的推动力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1b9b8a9143bcaf8706b35feb39aac5ca\" tg-width=\"640\" tg-height=\"226\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Qualcomm also discussed again its technologies spanning several end-markets beyond handsets, with IoT, automotive or virtual reality devices being, in my opinion, segments that are still relatively small for the company and have great growth prospects to become a sizable part of Qualcomm’s business in the next few years. For instance, Qualcomm targets annual revenues from IoT of around $9 billion by FY 2024, compared to $5 billion last year, while in Automotive it expects to grow from annual revenues of $1 billion last year to around $3.5 billion in five years.</p><p><blockquote>高通还再次讨论了其横跨手机以外几个终端市场的技术，在我看来，物联网、汽车或虚拟现实设备对公司来说仍然相对较小，但在未来几年将成为高通业务的重要组成部分。例如，高通的目标是到 2024 财年物联网年收入约为 90 亿美元，而去年为 50 亿美元，而在汽车领域，预计五年内将从去年的 10 亿美元年收入增长到约 35 亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ebe04cb81f8fa2aba439f6f5309780c2\" tg-width=\"640\" tg-height=\"218\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> In the mobile segment, Qualcomm also sees good long-term growth prospects due to 5G, with 5G handsets expected to gradually increase the weight in total shipments to about 85% by fiscal year 2024 and double from the total shipments delivered in the last year.</p><p><blockquote>在移动领域，高通也看到了5G带来的良好长期增长前景，预计到2024财年，5G手机在总出货量中的份额将逐渐增加到85%左右，是去年总出货量的两倍。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/552a1a716059d719fc6e64b861f09a8d\" tg-width=\"602\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Source: Qualcomm.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：高通。</span></p></blockquote></p><p> Regarding its capital structure and shareholder remuneration policy, Qualcomm intends to maintain its policy of distributing a large part of its free cash flow to shareholders, both through a growing dividend and opportunistic share buybacks. As the company’s financial leverage is strong, measured by its net debt-to-EBITDA ratio below 0.5x at the end of FY 2021, it doesn’t need to retain much cash so I expect Qualcomm to distribute close to 100% of its free cash flow to shareholders over the next few years.</p><p><blockquote>关于其资本结构和股东薪酬政策，高通打算维持其将大部分自由现金流分配给股东的政策，包括增加股息和机会主义股票回购。由于该公司的财务杠杆很强，从 2021 财年末的净债务与 EBITDA 的比率低于 0.5 倍来看，它不需要保留太多现金，因此我预计高通将在未来几年内将接近 100% 的自由现金流分配给股东。</blockquote></p><p> However, this could change if the company pursues acquisitions, especially if it performs a large acquisition financed mainly by debt. That would increase the company’s financial leverage and, most likely, its strategy would then change towards reducing leverage in subsequent years until it reaches again a strong balance sheet as it has today.</p><p><blockquote>然而，如果公司寻求收购，特别是如果它进行主要通过债务融资的大型收购，这种情况可能会发生变化。这将增加公司的财务杠杆率，很可能在随后的几年里，公司的战略会转向降低杠杆率，直到再次实现像今天这样强劲的资产负债表。</blockquote></p><p> <b>Estimates &amp; Valuation</b></p><p><blockquote><b>估计及估值</b></blockquote></p><p></p><p> Regarding medium-term&nbsp;estimates, Qualcomm’s revenues are expected to grow at about 7.3% per year, over the next four years, slowing down significantly compared to FY 2021. I think these are conservative estimates and there is upside potential for upward revisions over the coming months if operating momentum remains strong.</p><p><blockquote>关于中期预测，高通未来四年的收入预计将以每年 7.3% 左右的速度增长，与 2021 财年相比将大幅放缓。我认为这些都是保守的估计，如果经营势头保持强劲，未来几个月仍有向上修正的潜力。</blockquote></p><p> For the fiscal year 2025, revenues are expected to be about $44 billion, which seems too much low considering that for FY 2022 revenues are expected to be around $40 billion. I’m more bullish than current consensus and see revenues of around $50 billion by FY 2025, expecting annual revenue growth of around 7-8% per year between FY 2023 and 2025, which I think is still quite conservative.</p><p><blockquote>2025 财年的收入预计约为 440 亿美元，考虑到 2022 财年的收入预计约为 400 亿美元，这个数字似乎太低了。我比目前的共识更乐观，预计到 2025 财年收入将达到 500 亿美元左右，预计 2023 财年至 2025 财年期间的年收入增长率约为 7-8%，我认为这仍然相当保守。</blockquote></p><p> Its bottom-line is expected to increase to more than $14 billion in FY 2025 in my estimates, slightly above consensus because I’m expecting higher revenues, which implies an EPS of around $12 by FY 2025.</p><p><blockquote>据我估计，到 2025 财年，该公司的利润预计将增至 140 亿美元以上，略高于共识，因为我预计收入会更高，这意味着到 2025 财年，每股收益将达到 12 美元左右。</blockquote></p><p> Regarding valuation, my approach is to look into the next few years of revenues and earnings rather than just focus on this year or the next, to see if the stock has upside potential over a time frame of two to four years. Therefore, I use FY 2025 estimates to see if Qualcomm’s stock has upside potential over the medium term or not.</p><p><blockquote>关于估值，我的方法是研究未来几年的收入和盈利，而不仅仅是关注今年或明年，看看该股在两到四年的时间范围内是否有上涨潜力。因此，我使用 2025 财年的预测来判断高通的股票在中期内是否有上涨潜力。</blockquote></p><p> Based on Qualcomm’s EPS estimate of $12 by FY 2025 and its historical valuation multiple over the past couple of years regarding its blended forward earnings (next 12 months) of 17.3x, my price target for Qualcomm by September 2024 is $207 per share.</p><p><blockquote>根据高通公司到 2025 财年的每股收益估计为 12 美元，以及过去几年混合远期收益（未来 12 个月）17.3 倍的历史估值倍数，我对高通公司到 2024 年 9 月的目标价为每股 207 美元。</blockquote></p><p> This means that Qualcomm’s upside potential, based on these assumptions, is about 15% over the next three years, which is not impressive and show that a good part of its growth in the medium term is already reflected in its share price.</p><p><blockquote>这意味着，根据这些假设，高通未来三年的上涨潜力约为 15%，这并不令人印象深刻，也表明其中期增长的很大一部分已经反映在其股价上。</blockquote></p><p> Note that over the past two years Qualcomm’s forward earnings multiple has been somewhat volatile, trading between 13-22x forward earnings. When I wrote my previous article on Qualcomm, its shares were trading at the bottom of this range and the stock was clearly a buy, while now is trading close to its historical value. This means that there is more upside potential over the medium term, as Qualcomm is clearly well-positioned to benefit from 5G, IoT, and industrial and automotive connectivity, thus a re-rating to higher multiples is possible in the next couple of years.</p><p><blockquote>请注意，在过去两年中，高通的远期市盈率有些波动，在远期市盈率的 13-22 倍之间波动。当我写上一篇关于高通的文章时，其股价处于该区间的底部，该股显然值得买入，而现在的交易价格接近其历史价值。这意味着中期有更大的上行潜力，因为高通显然处于有利地位，可以从 5G、物联网以及工业和汽车连接中受益，因此未来几年有可能将评级重新评级至更高的倍数。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cb82ba4ac66c3ed8128484453fc4730c\" tg-width=\"1280\" tg-height=\"204\" width=\"100%\" height=\"auto\"><span>Source: Bloomberg.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：彭博社。</span></p></blockquote></p><p> <b>Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> Qualcomm’s operating momentum has improved markedly in recent quarters and growth prospects are good in the coming years, as the company’s product diversification strategy is making good progress and is expected to support growth in coming years.</p><p><blockquote>高通的经营势头在最近几个季度有了明显改善，未来几年的增长前景良好，因为该公司的产品多元化战略进展顺利，预计将支持未来几年的增长。</blockquote></p><p> However, its stock has rapidly incorporated improved fundamentals with the company’s recent earnings and investor day, and now upside potential is more limited than it was a couple of months ago. Investors who are exposed to Qualcomm should ‘hold’ and buy more during potential pullbacks in the future.</p><p><blockquote>然而，随着公司最近的财报和投资者日的公布，该公司股价的基本面迅速改善，现在的上涨潜力比几个月前更加有限。接触高通的投资者应该 “持有”，并在未来可能出现的回调中买入更多。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4471977-qualcomm-stock-strong-rally-now-hold\">Seeking Alpha</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":{"QCOM":"高通"},"source_url":"https://seekingalpha.com/article/4471977-qualcomm-stock-strong-rally-now-hold","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174337163","content_text":"Summary\n\nQualcomm is well-positioned to benefit from secular growth trends of 5G, IoT, and industrial and auto connectivity.\nIts recent operating performance has been quite good and momentum should remain strong in the next few quarters, even though growth is expected to moderate in the medium term.\nAfter a strong stock rally, the upside is now more limited and investors should buy more during potential pullbacks.\n\nG0d4ather/iStock Editorial via Getty Images\nQUALCOMM(QCOM) has interesting growth prospects over the coming years supported from 5G, IoT and industrial and auto connectivity, but its share price performance has been quite strong over the past couple of months and Qualcomm is now a ‘hold’.\nBackground\nAbout two months ago, I have recommended Qualcomm as an interesting play in the 5G and Internet of Things (IoT) secular growth theme, even though there are some medium-term risks, such as competition from MediaTek(OTCPK:MDTKF) in the mobile segment and the possibility of losing Apple’s(AAPL) modem business.\nSince my article, Qualcomm’s share price has been on fire, up by more than 39% in about two months, supported by strong earnings and an upbeat investor day in the past week.\nSource: Seeking Alpha.\nAfter a strong run, I think it’s time to see if Qualcomm still offers value to investors if its shares are now expensive. In this article, I review its most recent earnings and investor day, plus I check if its valuation is still attractive or not, considering Qualcomm’s medium-term earnings expectations.\nRecent Earnings\nQualcomm has reported positive results regarding the fourth quarter and fiscal year 2021 (FY 2021 - for the year ended on September 26, 2021), at the beginning of this month. The company reported revenues 5% higher than expected related to Q4, while its bottom-line beat estimates by close to 13%.\nFor the full fiscal year, the company was able to beat targets set at its investor day in 2019 for revenue growth and margin expansion, boding well for growth ahead.\nIn FY 2021, Qualcomm’s revenues amounted to $33.56 billion (up by 43% YoY), while its operating income was close to $10.3 billion (+80% YoY). Its net income increased by 74% YoY to more than $9 billion, reaching a net profit margin of 26.9% (vs. 22.1% in FY 2020).\nSource: Qualcomm.\nQualcomm’s growth engine was the QCT segment (technologies), with revenue up by 64% YoY, while the licensing segment (QTL) reported 26% YoY revenue growth. In the QTL segment, Qualcomm’s growth was broad based, with radio filters and IoT being particularly strong.\nSource: Qualcomm.\nDespite the company’s diversification strategy, Qualcomm is still heavily exposed to the mobile market (handsets) which represented some 62% of its QTL revenues. However, this weight is expected to gradually decrease over the next few years, as other segments such as IoT should have higher growth rates over the medium to long term, given that handsets have benefitted cyclically from the rapid shift to 5G phones over the past year.\nI see these results as quite good and above my own expectations, with the company being able to report annual revenues in excess of $10 billion for RF, auto and IoT together, a great milestone for Qualcomm and more than doubled compared to FY 2019.\nThis clearly shows that Qualcomm’s diversification strategy is progressing well and execution has been positive, which increases confidence on future growth targets. Beyond that, the current chip shortage is also impacting Qualcomm’s business, like for everyone else in the industry, making its recent growth even more impressive.\nRegarding its shareholder remuneration policy, during the last fiscal year, Qualcomm has made close to $3.4 billion in stock repurchases and distributed dividends of $3 billion. Thus, its total capital return to shareholders amounted to $6.4 billion, which represented more than 70% of its bottom-line. However, its dividend yield is only about 1.5%, thus I see Qualcomm mainly as a ‘growth’ play, while income is not high enough to be a reason to buy Qualcomm’s shares.\nQualcomm’s outlook for the next quarter is also positive, with the company expecting more than $10 billion in revenues and diluted EPS in the range $2.53-2.73. Even though Qualcomm’s business has some seasonality, Q1 is usually a stronger quarter, this outlook implies annual revenues close to $40 billion, or up by 19% compared to the previous FY.\nThis is in-line with current street expectations, given that the current consensus is for FY 2022 revenues of $39.5 billion, showing that Qualcomm’s recent growth is not temporary.\nOn the other hand, as I’ve highlighted as a potential risk in my previous analysis, there were additional rumors recently thatApple(AAPL) will use its own 5G modem chip in 2023, instead of using Qualcomm’s chips. It is difficult to quantify how much revenue will Qualcomm lose from this, but certainly will be material and is a potential headwind for revenue and earnings growth in the medium term that investors should be aware of.\nNevertheless, the company has recently shown in its investor day that its business is well exposed to some secular growth trends, such as IoT or car and industrial connectivity powered by 5G. This bodes well for its growth prospects over the next few years, and also to smooth the impact of losing some business from Apple.\nInvestor Day\nAs I’ve discussed previously on Qualcomm, the company is well-positioned to benefit from secular growth trends of 5G and IoT, considering that it has adapted its product portfolio quite well in recent years for the expected higher demand for these wireless technologies over the next few years, beyond the mobile industry.\nIts growth strategy has been to diversify its product offering so that it can offer solutions and products for more industries and different type of customers, namely in the automotive or the industrial sectors, increasing Qualcomm’s total addressable market and higher long-term growth prospects than relying too much on the mobile industry.\nThe company has several technologies for mobile and connectivity that have great growth prospects due to the ongoing digital transformation, which is not expected to slow down in the future. Indeed, in its recent investor day, Qualcomm said that its total addressable market is expected to expand significantly over the next decade, from about $100 billion currently to some $700 billion by 2030. This is justified by the rising number of devices that are expected to be connected to the internet, generating a vast amount of data, being a strong tailwind for the company’s growth ahead.\nSource: Qualcomm.\nQualcomm also discussed again its technologies spanning several end-markets beyond handsets, with IoT, automotive or virtual reality devices being, in my opinion, segments that are still relatively small for the company and have great growth prospects to become a sizable part of Qualcomm’s business in the next few years. For instance, Qualcomm targets annual revenues from IoT of around $9 billion by FY 2024, compared to $5 billion last year, while in Automotive it expects to grow from annual revenues of $1 billion last year to around $3.5 billion in five years.\nSource: Qualcomm.\nIn the mobile segment, Qualcomm also sees good long-term growth prospects due to 5G, with 5G handsets expected to gradually increase the weight in total shipments to about 85% by fiscal year 2024 and double from the total shipments delivered in the last year.\nSource: Qualcomm.\nRegarding its capital structure and shareholder remuneration policy, Qualcomm intends to maintain its policy of distributing a large part of its free cash flow to shareholders, both through a growing dividend and opportunistic share buybacks. As the company’s financial leverage is strong, measured by its net debt-to-EBITDA ratio below 0.5x at the end of FY 2021, it doesn’t need to retain much cash so I expect Qualcomm to distribute close to 100% of its free cash flow to shareholders over the next few years.\nHowever, this could change if the company pursues acquisitions, especially if it performs a large acquisition financed mainly by debt. That would increase the company’s financial leverage and, most likely, its strategy would then change towards reducing leverage in subsequent years until it reaches again a strong balance sheet as it has today.\nEstimates & Valuation\nRegarding medium-term estimates, Qualcomm’s revenues are expected to grow at about 7.3% per year, over the next four years, slowing down significantly compared to FY 2021. I think these are conservative estimates and there is upside potential for upward revisions over the coming months if operating momentum remains strong.\nFor the fiscal year 2025, revenues are expected to be about $44 billion, which seems too much low considering that for FY 2022 revenues are expected to be around $40 billion. I’m more bullish than current consensus and see revenues of around $50 billion by FY 2025, expecting annual revenue growth of around 7-8% per year between FY 2023 and 2025, which I think is still quite conservative.\nIts bottom-line is expected to increase to more than $14 billion in FY 2025 in my estimates, slightly above consensus because I’m expecting higher revenues, which implies an EPS of around $12 by FY 2025.\nRegarding valuation, my approach is to look into the next few years of revenues and earnings rather than just focus on this year or the next, to see if the stock has upside potential over a time frame of two to four years. Therefore, I use FY 2025 estimates to see if Qualcomm’s stock has upside potential over the medium term or not.\nBased on Qualcomm’s EPS estimate of $12 by FY 2025 and its historical valuation multiple over the past couple of years regarding its blended forward earnings (next 12 months) of 17.3x, my price target for Qualcomm by September 2024 is $207 per share.\nThis means that Qualcomm’s upside potential, based on these assumptions, is about 15% over the next three years, which is not impressive and show that a good part of its growth in the medium term is already reflected in its share price.\nNote that over the past two years Qualcomm’s forward earnings multiple has been somewhat volatile, trading between 13-22x forward earnings. When I wrote my previous article on Qualcomm, its shares were trading at the bottom of this range and the stock was clearly a buy, while now is trading close to its historical value. This means that there is more upside potential over the medium term, as Qualcomm is clearly well-positioned to benefit from 5G, IoT, and industrial and automotive connectivity, thus a re-rating to higher multiples is possible in the next couple of years.\nSource: Bloomberg.\nBottom Line\nQualcomm’s operating momentum has improved markedly in recent quarters and growth prospects are good in the coming years, as the company’s product diversification strategy is making good progress and is expected to support growth in coming years.\nHowever, its stock has rapidly incorporated improved fundamentals with the company’s recent earnings and investor day, and now upside potential is more limited than it was a couple of months ago. Investors who are exposed to Qualcomm should ‘hold’ and buy more during potential pullbacks in the future.","news_type":1,"symbols_score_info":{"QCOM":0.9}},"isVote":1,"tweetType":1,"viewCount":1541,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":876518519,"gmtCreate":1637331093260,"gmtModify":1637331093449,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/876518519","repostId":"1156692377","repostType":4,"repost":{"id":"1156692377","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":1637326873,"share":"https://www.laohunote.com/m/news/1156692377?lang=zh_CN&edition=full","pubTime":"2021-11-19 21:01","market":"us","language":"en","title":"Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1156692377","media":"Tiger Newspress","summary":"Nasdaq index futures hit a record high on Friday as investors sought economically stable sectors aft","content":"<p>Nasdaq index futures hit a record high on Friday as investors sought economically stable sectors after a small delay in voting on President Joe Biden's $1.75 trillion spending bill, while rising COVID-19 cases in Europe also dented sentiment.</p><p><blockquote>纳斯达克指数期货周五创下历史新高，因为在乔·拜登总统 1.75 万亿美元支出法案的投票略有推迟后，投资者寻求经济稳定的行业，而欧洲不断上升的 COVID-19 病例也削弱了市场情绪。</blockquote></p><p> S&amp;P and Dow futures fell tracking losses in banks, airlines, and other economically sensitive sectors. Uncertainty over rising inflation and the Federal Reserve's tightening also kept demand for value stocks low.</p><p><blockquote>标准普尔和道琼斯指数期货下跌，跟踪银行、航空公司和其他经济敏感行业的损失。通胀上升和美联储紧缩政策的不确定性也导致对价值股的需求较低。</blockquote></p><p> At 7:55 a.m. ET, Dow e-minis were down 250 points, or 0.7%. S&amp;P 500 e-minis were down 14 points, or 0.3% and Nasdaq 100 e-minis were up 66.25 points, or 0.4%.</p><p><blockquote>美国东部时间上午 7:55，道琼斯电子迷你指数下跌 250 点，跌幅 0.7%。标普500 E-Mini 下跌 14 点，即 0.3%，纳斯达克 100 E-Mini 上涨 66.25 点，即 0.4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4d60c72fda7c9c4bcde12af36bdc2f99\" tg-width=\"414\" tg-height=\"185\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Shares of Alphabet Inc, Amazon.com&nbsp;and Microsoft Corp&nbsp;- stocks which have largely persevered through economic shocks since 2020, rose between 0.3% and 0.6% in premarket trade.</p><p><blockquote>Alphabet公司、亚马逊和微软公司的股价——这些股票自 2020 年以来基本上经受住了经济冲击，在盘前交易中上涨了 0.3% 至 0.6%。</blockquote></p><p> Chipmaker Nvidia&nbsp;also boosted Nasdaq futures, rising 1.4% in heavy trade after posting strong quarterly results late Wednesday.</p><p><blockquote>芯片制造商英伟达 (Nvidia) 也提振了纳斯达克期货，在周三晚间公布强劲的季度业绩后，在繁忙的交易中上涨 1.4%。</blockquote></p><p> On the other hand, carriers Delta Air Lines, United Airlines&nbsp;and American Airlines, and cruiseliners Norwegian Cruise Line&nbsp;and Carnival Corp&nbsp;fell between 1.4% and 3%.</p><p><blockquote>另一方面，达美航空公司、联合航空公司和美国航空公司以及游轮公司挪威邮轮公司和嘉年华公司的股价下跌了 1.4% 至 3%。</blockquote></p><p> Oil firms Exxon Mobil&nbsp;and Chevron Corp&nbsp;slipped 2.7% and 2.4% as crude prices sank, while big banks including JPMorgan Chase &amp; Co&nbsp;and Bank of America&nbsp;were down between 1.6% and 1.9%, tracking a fall in U.S. Treasury yields.</p><p><blockquote>由于原油价格下跌，石油公司埃克森美孚和雪佛龙公司分别下跌 2.7% 和 2.4%，而摩根大通和美国银行等大银行则下跌 1.6% 至 1.9%，跟随美国国债收益率的下降。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前波动最大的股票：</b></blockquote></p><p> <b>Moderna(</b><b>MRNA</b><b>)</b>&nbsp;–&nbsp;Moderna stock surged 5% in premarket trading&nbsp;after announcing FDA authorization of booster dose of COVID-19 Vaccine in the U.S. for adults 18 years and older.</p><p><blockquote><b>现代（</b><b>MRNA</b><b>)</b>– Moderna 宣布 FDA 批准在美国为 18 岁及以上成年人接种加强剂量 COVID-19 疫苗后，其股价在盘前交易中飙升 5%。</blockquote></p><p> <b>Farfetch(FTCH)</b> – The online luxury fashion marketplace operator’s shares plunged 22.1% in the premarket after it reported a narrower-than-expected quarterly loss and saw revenue fall short of Wall Street forecasts. The company also gave weaker-than-expected adjusted earnings guidance.</p><p><blockquote><b>Farfetch(FTCH)</b>- 这家在线奢侈时尚市场运营商的股价在盘前暴跌 22.1%，此前该公司公布的季度亏损小于预期，收入也低于华尔街的预测。该公司还给出了弱于预期的调整后盈利指引。</blockquote></p><p> <b>Applied Materials(AMAT)</b> – Applied Materials came in a penny shy of estimates with adjusted quarterly earnings of $1.94 per share. The semiconductor equipment maker’s revenue fell short of forecasts as well. Applied Materials also gave a weaker-than-expected current-quarter outlook amid supply shortages of certain components, and its stock tumbled 6.2% in premarket action.</p><p><blockquote><b>应用材料(AMAT)</b>– 应用材料公司调整后季度收益为每股 1.94 美元，比预期低一分钱。这家半导体设备制造商的收入也低于预期。由于某些零部件供应短缺，应用材料公司也给出了弱于预期的本季度前景，其股价在盘前交易中暴跌 6.2%。</blockquote></p><p> <b>Foot Locker(FL)</b> – Foot Locker slid 7.1% in the premarket after the athletic footwear and apparel retailer said it expects global supply chain constraints to persist through this quarter. The slide comes despite a beat on both the top and bottom lines for Foot Locker’s most recent quarter, as well as better-than-expected comparable store sales.</p><p><blockquote><b>脚部储物柜(FL)</b>– Foot Locker 在盘前下跌 7.1%，此前这家运动鞋和服装零售商表示，预计全球供应链限制将持续到本季度。尽管 Foot Locker 最近一个季度的营收和利润都有所下降，而且可比门店的销售额也好于预期，但销售还是出现了下滑。</blockquote></p><p> <b>Intuit(INTU)</b> – Intuit earned an adjusted $1.53 per share for its latest quarter, well above analyst forecasts for a profit of 97 cents per share. The financial software firm also reported better-than-expected revenue and gave an upbeat forecast as it benefits from its acquisition of Credit Karma late last year and MailChimp last month. Its stock surged 13% in premarket trading.</p><p><blockquote><b>直觉</b>– Intuit 最新季度调整后每股收益为 1.53 美元，远高于分析师预测的每股收益 97 美分。这家金融软件公司还公布了好于预期的收入，并给出了乐观的预测，因为它受益于去年年底收购 Credit Karma 和上个月收购 MailChimp。其股价在盘前交易中飙升 13%。</blockquote></p><p> <b>Ross Stores(ROST)</b> – Ross Stores reported quarterly earnings of $1.09 per share, topping the 78-cent consensus estimate, with revenue also beating forecasts. However, the discount retailer said it was seeing significant supply chain issues, causing uncertainty heading into the holiday shopping season, and the stock slid 3.4% in the premarket.</p><p><blockquote><b>罗斯商店（罗斯特）</b>– Ross Stores 公布季度收益为每股 1.09 美元，高于市场普遍预期的 78 美分，收入也超出预期。然而，这家折扣零售商表示，它看到了严重的供应链问题，导致假日购物季的不确定性，该股在盘前下跌 3.4%。</blockquote></p><p> <b>SoFi(SOFI)</b> – SoFi fell 1.8% in premarket action following news that investor Chamath Palihapitiya sold 15% of his stake in the fintech firm to help build his cash reserves and fund new investments.</p><p><blockquote><b>索菲（索菲）</b>– 有消息称，投资者 Chamath Palihapitiya 出售了其在这家金融科技公司 15% 的股份，以帮助建立现金储备并为新投资提供资金，SoFi 在盘前下跌 1.8%。</blockquote></p><p> <b>Workday(WDAY)</b> – Workday beat estimates by 24 cents with adjusted quarterly earnings of $1.10 per share, while the maker of human resources software saw revenue top estimates amid faster growth in subscription revenue. However, the company said the effects of the Covid-19 pandemic will weigh on growth in the coming year, and the stock tumbled 7.5% in premarket trading.</p><p><blockquote><b>工作日（WDAY）</b>– Workday 调整后季度收益为每股 1.10 美元，超出预期 24 美分，而这家人力资源软件制造商在订阅收入快速增长的情况下收入超出预期。然而，该公司表示，Covid-19 大流行的影响将影响来年的增长，该股在盘前交易中暴跌 7.5%。</blockquote></p><p> <b>Buckle(BKE)</b> – The fashion accessories retailer’s stock rallied 10.7% in the premarket following an upbeat quarterly earnings report. The company earned $1.26 per share for the quarter, beating the 92-cent consensus estimate, with revenue also topping Street projections.</p><p><blockquote><b>带扣(BKE)</b>- 在发布乐观的季度财报后，这家时尚配饰零售商的股价在盘前上涨了 10.7%。该公司本季度每股收益为 1.26 美元，超过了 92 美分的普遍预期，收入也超出了华尔街的预期。</blockquote></p><p> <b>Dillard’s(DDS)</b> – The department store operator’s stock added 3.2% in premarket trading after the company announced a $15 per share special dividend, payable on December 15 to shareholders of record as of November 29.</p><p><blockquote><b>迪拉德（DDS）</b>- 在该公司宣布将于 12 月 15 日向截至 11 月 29 日登记在册的股东派发每股 15 美元的特别股息后，这家百货公司运营商的股价在盘前交易中上涨了 3.2%。</blockquote></p><p></p><p> <b>Williams-Sonoma(WSM)</b> – Williams-Sonoma reported adjusted quarterly earnings of $3.32 per share, beating the consensus estimate of $3.14. The housewares retailer saw better-than-expected revenue and raised its full-year forecast, noting a strong jump in e-commerce and strength across its brands. Williams-Sonoma also reported higher-than-expected selling, general and administrative expenses during the quarter, and the stock fell 7.1% in the premarket after rising in five of the past six sessions.</p><p><blockquote><b>威廉姆斯-索诺玛（WSM）</b>– Williams-Sonoma 公布调整后季度收益为每股 3.32 美元，超出市场普遍预期的 3.14 美元。这家家居用品零售商的收入好于预期，并上调了全年预测，指出电子商务和品牌实力的强劲增长。Williams-Sonoma 本季度的销售、一般和管理费用也高于预期，该股在过去六个交易日中的五个交易日上涨后，盘前下跌 7.1%。</blockquote></p><p> <b>Palo Alto Networks(PANW)</b> – Palo Alto shares jumped 4.3% in premarket trading, reversing initial losses that occurred after the cybersecurity firm gave weaker-than-expected full-year guidance. Palo Alto beat forecasts on the top and bottom lines for its most recent quarter, earning an adjusted $1.64 per share compared with a consensus estimate of $1.57.</p><p><blockquote><b>帕洛阿尔托网络（PANW）</b>– Palo Alto 股价在盘前交易中上涨 4.3%，扭转了这家网络安全公司发布弱于预期的全年指引后出现的初步跌幅。Palo Alto 最近一个季度的营收和利润均超出预期，调整后每股收益为 1.64 美元，而市场普遍预期为 1.57 美元。</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>Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的顶线</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\">\nToplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的顶线</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\">2021-11-19 21:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Nasdaq index futures hit a record high on Friday as investors sought economically stable sectors after a small delay in voting on President Joe Biden's $1.75 trillion spending bill, while rising COVID-19 cases in Europe also dented sentiment.</p><p><blockquote>纳斯达克指数期货周五创下历史新高，因为在乔·拜登总统 1.75 万亿美元支出法案的投票略有推迟后，投资者寻求经济稳定的行业，而欧洲不断上升的 COVID-19 病例也削弱了市场情绪。</blockquote></p><p> S&amp;P and Dow futures fell tracking losses in banks, airlines, and other economically sensitive sectors. Uncertainty over rising inflation and the Federal Reserve's tightening also kept demand for value stocks low.</p><p><blockquote>标准普尔和道琼斯指数期货下跌，跟踪银行、航空公司和其他经济敏感行业的损失。通胀上升和美联储紧缩政策的不确定性也导致对价值股的需求较低。</blockquote></p><p> At 7:55 a.m. ET, Dow e-minis were down 250 points, or 0.7%. S&amp;P 500 e-minis were down 14 points, or 0.3% and Nasdaq 100 e-minis were up 66.25 points, or 0.4%.</p><p><blockquote>美国东部时间上午 7:55，道琼斯电子迷你指数下跌 250 点，跌幅 0.7%。标普500 E-Mini 下跌 14 点，即 0.3%，纳斯达克 100 E-Mini 上涨 66.25 点，即 0.4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4d60c72fda7c9c4bcde12af36bdc2f99\" tg-width=\"414\" tg-height=\"185\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Shares of Alphabet Inc, Amazon.com&nbsp;and Microsoft Corp&nbsp;- stocks which have largely persevered through economic shocks since 2020, rose between 0.3% and 0.6% in premarket trade.</p><p><blockquote>Alphabet公司、亚马逊和微软公司的股价——这些股票自 2020 年以来基本上经受住了经济冲击，在盘前交易中上涨了 0.3% 至 0.6%。</blockquote></p><p> Chipmaker Nvidia&nbsp;also boosted Nasdaq futures, rising 1.4% in heavy trade after posting strong quarterly results late Wednesday.</p><p><blockquote>芯片制造商英伟达 (Nvidia) 也提振了纳斯达克期货，在周三晚间公布强劲的季度业绩后，在繁忙的交易中上涨 1.4%。</blockquote></p><p> On the other hand, carriers Delta Air Lines, United Airlines&nbsp;and American Airlines, and cruiseliners Norwegian Cruise Line&nbsp;and Carnival Corp&nbsp;fell between 1.4% and 3%.</p><p><blockquote>另一方面，达美航空公司、联合航空公司和美国航空公司以及游轮公司挪威邮轮公司和嘉年华公司的股价下跌了 1.4% 至 3%。</blockquote></p><p> Oil firms Exxon Mobil&nbsp;and Chevron Corp&nbsp;slipped 2.7% and 2.4% as crude prices sank, while big banks including JPMorgan Chase &amp; Co&nbsp;and Bank of America&nbsp;were down between 1.6% and 1.9%, tracking a fall in U.S. Treasury yields.</p><p><blockquote>由于原油价格下跌，石油公司埃克森美孚和雪佛龙公司分别下跌 2.7% 和 2.4%，而摩根大通和美国银行等大银行则下跌 1.6% 至 1.9%，跟随美国国债收益率的下降。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前波动最大的股票：</b></blockquote></p><p> <b>Moderna(</b><b>MRNA</b><b>)</b>&nbsp;–&nbsp;Moderna stock surged 5% in premarket trading&nbsp;after announcing FDA authorization of booster dose of COVID-19 Vaccine in the U.S. for adults 18 years and older.</p><p><blockquote><b>现代（</b><b>MRNA</b><b>)</b>– Moderna 宣布 FDA 批准在美国为 18 岁及以上成年人接种加强剂量 COVID-19 疫苗后，其股价在盘前交易中飙升 5%。</blockquote></p><p> <b>Farfetch(FTCH)</b> – The online luxury fashion marketplace operator’s shares plunged 22.1% in the premarket after it reported a narrower-than-expected quarterly loss and saw revenue fall short of Wall Street forecasts. The company also gave weaker-than-expected adjusted earnings guidance.</p><p><blockquote><b>Farfetch(FTCH)</b>- 这家在线奢侈时尚市场运营商的股价在盘前暴跌 22.1%，此前该公司公布的季度亏损小于预期，收入也低于华尔街的预测。该公司还给出了弱于预期的调整后盈利指引。</blockquote></p><p> <b>Applied Materials(AMAT)</b> – Applied Materials came in a penny shy of estimates with adjusted quarterly earnings of $1.94 per share. The semiconductor equipment maker’s revenue fell short of forecasts as well. Applied Materials also gave a weaker-than-expected current-quarter outlook amid supply shortages of certain components, and its stock tumbled 6.2% in premarket action.</p><p><blockquote><b>应用材料(AMAT)</b>– 应用材料公司调整后季度收益为每股 1.94 美元，比预期低一分钱。这家半导体设备制造商的收入也低于预期。由于某些零部件供应短缺，应用材料公司也给出了弱于预期的本季度前景，其股价在盘前交易中暴跌 6.2%。</blockquote></p><p> <b>Foot Locker(FL)</b> – Foot Locker slid 7.1% in the premarket after the athletic footwear and apparel retailer said it expects global supply chain constraints to persist through this quarter. The slide comes despite a beat on both the top and bottom lines for Foot Locker’s most recent quarter, as well as better-than-expected comparable store sales.</p><p><blockquote><b>脚部储物柜(FL)</b>– Foot Locker 在盘前下跌 7.1%，此前这家运动鞋和服装零售商表示，预计全球供应链限制将持续到本季度。尽管 Foot Locker 最近一个季度的营收和利润都有所下降，而且可比门店的销售额也好于预期，但销售还是出现了下滑。</blockquote></p><p> <b>Intuit(INTU)</b> – Intuit earned an adjusted $1.53 per share for its latest quarter, well above analyst forecasts for a profit of 97 cents per share. The financial software firm also reported better-than-expected revenue and gave an upbeat forecast as it benefits from its acquisition of Credit Karma late last year and MailChimp last month. Its stock surged 13% in premarket trading.</p><p><blockquote><b>直觉</b>– Intuit 最新季度调整后每股收益为 1.53 美元，远高于分析师预测的每股收益 97 美分。这家金融软件公司还公布了好于预期的收入，并给出了乐观的预测，因为它受益于去年年底收购 Credit Karma 和上个月收购 MailChimp。其股价在盘前交易中飙升 13%。</blockquote></p><p> <b>Ross Stores(ROST)</b> – Ross Stores reported quarterly earnings of $1.09 per share, topping the 78-cent consensus estimate, with revenue also beating forecasts. However, the discount retailer said it was seeing significant supply chain issues, causing uncertainty heading into the holiday shopping season, and the stock slid 3.4% in the premarket.</p><p><blockquote><b>罗斯商店（罗斯特）</b>– Ross Stores 公布季度收益为每股 1.09 美元，高于市场普遍预期的 78 美分，收入也超出预期。然而，这家折扣零售商表示，它看到了严重的供应链问题，导致假日购物季的不确定性，该股在盘前下跌 3.4%。</blockquote></p><p> <b>SoFi(SOFI)</b> – SoFi fell 1.8% in premarket action following news that investor Chamath Palihapitiya sold 15% of his stake in the fintech firm to help build his cash reserves and fund new investments.</p><p><blockquote><b>索菲（索菲）</b>– 有消息称，投资者 Chamath Palihapitiya 出售了其在这家金融科技公司 15% 的股份，以帮助建立现金储备并为新投资提供资金，SoFi 在盘前下跌 1.8%。</blockquote></p><p> <b>Workday(WDAY)</b> – Workday beat estimates by 24 cents with adjusted quarterly earnings of $1.10 per share, while the maker of human resources software saw revenue top estimates amid faster growth in subscription revenue. However, the company said the effects of the Covid-19 pandemic will weigh on growth in the coming year, and the stock tumbled 7.5% in premarket trading.</p><p><blockquote><b>工作日（WDAY）</b>– Workday 调整后季度收益为每股 1.10 美元，超出预期 24 美分，而这家人力资源软件制造商在订阅收入快速增长的情况下收入超出预期。然而，该公司表示，Covid-19 大流行的影响将影响来年的增长，该股在盘前交易中暴跌 7.5%。</blockquote></p><p> <b>Buckle(BKE)</b> – The fashion accessories retailer’s stock rallied 10.7% in the premarket following an upbeat quarterly earnings report. The company earned $1.26 per share for the quarter, beating the 92-cent consensus estimate, with revenue also topping Street projections.</p><p><blockquote><b>带扣(BKE)</b>- 在发布乐观的季度财报后，这家时尚配饰零售商的股价在盘前上涨了 10.7%。该公司本季度每股收益为 1.26 美元，超过了 92 美分的普遍预期，收入也超出了华尔街的预期。</blockquote></p><p> <b>Dillard’s(DDS)</b> – The department store operator’s stock added 3.2% in premarket trading after the company announced a $15 per share special dividend, payable on December 15 to shareholders of record as of November 29.</p><p><blockquote><b>迪拉德（DDS）</b>- 在该公司宣布将于 12 月 15 日向截至 11 月 29 日登记在册的股东派发每股 15 美元的特别股息后，这家百货公司运营商的股价在盘前交易中上涨了 3.2%。</blockquote></p><p></p><p> <b>Williams-Sonoma(WSM)</b> – Williams-Sonoma reported adjusted quarterly earnings of $3.32 per share, beating the consensus estimate of $3.14. The housewares retailer saw better-than-expected revenue and raised its full-year forecast, noting a strong jump in e-commerce and strength across its brands. Williams-Sonoma also reported higher-than-expected selling, general and administrative expenses during the quarter, and the stock fell 7.1% in the premarket after rising in five of the past six sessions.</p><p><blockquote><b>威廉姆斯-索诺玛（WSM）</b>– Williams-Sonoma 公布调整后季度收益为每股 3.32 美元，超出市场普遍预期的 3.14 美元。这家家居用品零售商的收入好于预期，并上调了全年预测，指出电子商务和品牌实力的强劲增长。Williams-Sonoma 本季度的销售、一般和管理费用也高于预期，该股在过去六个交易日中的五个交易日上涨后，盘前下跌 7.1%。</blockquote></p><p> <b>Palo Alto Networks(PANW)</b> – Palo Alto shares jumped 4.3% in premarket trading, reversing initial losses that occurred after the cybersecurity firm gave weaker-than-expected full-year guidance. Palo Alto beat forecasts on the top and bottom lines for its most recent quarter, earning an adjusted $1.64 per share compared with a consensus estimate of $1.57.</p><p><blockquote><b>帕洛阿尔托网络（PANW）</b>– Palo Alto 股价在盘前交易中上涨 4.3%，扭转了这家网络安全公司发布弱于预期的全年指引后出现的初步跌幅。Palo Alto 最近一个季度的营收和利润均超出预期，调整后每股收益为 1.64 美元，而市场普遍预期为 1.57 美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BKE":"巴克尔","SOFI":"SoFi Technologies Inc.",".SPX":"S&P 500 Index","DDS":"狄乐百货",".DJI":"道琼斯","AMAT":"应用材料","INTU":"财捷","WSM":"Williams-Sonoma Inc",".IXIC":"NASDAQ Composite","MRNA":"Moderna, Inc.","ROST":"罗斯百货有限公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156692377","content_text":"Nasdaq index futures hit a record high on Friday as investors sought economically stable sectors after a small delay in voting on President Joe Biden's $1.75 trillion spending bill, while rising COVID-19 cases in Europe also dented sentiment.\nS&P and Dow futures fell tracking losses in banks, airlines, and other economically sensitive sectors. Uncertainty over rising inflation and the Federal Reserve's tightening also kept demand for value stocks low.\nAt 7:55 a.m. ET, Dow e-minis were down 250 points, or 0.7%. S&P 500 e-minis were down 14 points, or 0.3% and Nasdaq 100 e-minis were up 66.25 points, or 0.4%.\n\nShares of Alphabet Inc, Amazon.com and Microsoft Corp - stocks which have largely persevered through economic shocks since 2020, rose between 0.3% and 0.6% in premarket trade.\nChipmaker Nvidia also boosted Nasdaq futures, rising 1.4% in heavy trade after posting strong quarterly results late Wednesday.\nOn the other hand, carriers Delta Air Lines, United Airlines and American Airlines, and cruiseliners Norwegian Cruise Line and Carnival Corp fell between 1.4% and 3%.\nOil firms Exxon Mobil and Chevron Corp slipped 2.7% and 2.4% as crude prices sank, while big banks including JPMorgan Chase & Co and Bank of America were down between 1.6% and 1.9%, tracking a fall in U.S. Treasury yields.\nStocks making the biggest moves premarket:\nModerna(MRNA) – Moderna stock surged 5% in premarket trading after announcing FDA authorization of booster dose of COVID-19 Vaccine in the U.S. for adults 18 years and older.\nFarfetch(FTCH) – The online luxury fashion marketplace operator’s shares plunged 22.1% in the premarket after it reported a narrower-than-expected quarterly loss and saw revenue fall short of Wall Street forecasts. The company also gave weaker-than-expected adjusted earnings guidance.\nApplied Materials(AMAT) – Applied Materials came in a penny shy of estimates with adjusted quarterly earnings of $1.94 per share. The semiconductor equipment maker’s revenue fell short of forecasts as well. Applied Materials also gave a weaker-than-expected current-quarter outlook amid supply shortages of certain components, and its stock tumbled 6.2% in premarket action.\nFoot Locker(FL) – Foot Locker slid 7.1% in the premarket after the athletic footwear and apparel retailer said it expects global supply chain constraints to persist through this quarter. The slide comes despite a beat on both the top and bottom lines for Foot Locker’s most recent quarter, as well as better-than-expected comparable store sales.\nIntuit(INTU) – Intuit earned an adjusted $1.53 per share for its latest quarter, well above analyst forecasts for a profit of 97 cents per share. The financial software firm also reported better-than-expected revenue and gave an upbeat forecast as it benefits from its acquisition of Credit Karma late last year and MailChimp last month. Its stock surged 13% in premarket trading.\nRoss Stores(ROST) – Ross Stores reported quarterly earnings of $1.09 per share, topping the 78-cent consensus estimate, with revenue also beating forecasts. However, the discount retailer said it was seeing significant supply chain issues, causing uncertainty heading into the holiday shopping season, and the stock slid 3.4% in the premarket.\nSoFi(SOFI) – SoFi fell 1.8% in premarket action following news that investor Chamath Palihapitiya sold 15% of his stake in the fintech firm to help build his cash reserves and fund new investments.\nWorkday(WDAY) – Workday beat estimates by 24 cents with adjusted quarterly earnings of $1.10 per share, while the maker of human resources software saw revenue top estimates amid faster growth in subscription revenue. However, the company said the effects of the Covid-19 pandemic will weigh on growth in the coming year, and the stock tumbled 7.5% in premarket trading.\nBuckle(BKE) – The fashion accessories retailer’s stock rallied 10.7% in the premarket following an upbeat quarterly earnings report. The company earned $1.26 per share for the quarter, beating the 92-cent consensus estimate, with revenue also topping Street projections.\nDillard’s(DDS) – The department store operator’s stock added 3.2% in premarket trading after the company announced a $15 per share special dividend, payable on December 15 to shareholders of record as of November 29.\nWilliams-Sonoma(WSM) – Williams-Sonoma reported adjusted quarterly earnings of $3.32 per share, beating the consensus estimate of $3.14. The housewares retailer saw better-than-expected revenue and raised its full-year forecast, noting a strong jump in e-commerce and strength across its brands. Williams-Sonoma also reported higher-than-expected selling, general and administrative expenses during the quarter, and the stock fell 7.1% in the premarket after rising in five of the past six sessions.\nPalo Alto Networks(PANW) – Palo Alto shares jumped 4.3% in premarket trading, reversing initial losses that occurred after the cybersecurity firm gave weaker-than-expected full-year guidance. Palo Alto beat forecasts on the top and bottom lines for its most recent quarter, earning an adjusted $1.64 per share compared with a consensus estimate of $1.57.","news_type":1,"symbols_score_info":{".IXIC":0.9,"ROST":0.9,"ESmain":0.9,"BKE":0.9,"DDS":0.9,"NQmain":0.9,"MRNA":0.9,"WSM":0.9,"AMAT":0.9,"FL":0.9,"SOFI":0.9,"YMmain":0.9,".DJI":0.9,".SPX":0.9,"INTU":0.9,"FTCH":0.9}},"isVote":1,"tweetType":1,"viewCount":628,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866628771,"gmtCreate":1632778013593,"gmtModify":1632797986472,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/866628771","repostId":"1143307489","repostType":4,"repost":{"id":"1143307489","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":1632757396,"share":"https://www.laohunote.com/m/news/1143307489?lang=zh_CN&edition=full","pubTime":"2021-09-27 23:43","market":"us","language":"en","title":"Cannabis stocks jumped in Monday morning trading<blockquote>周一早盘交易中大麻股票上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143307489","media":"Tiger Newspress","summary":"Cannabis stocks jumped in Monday morning trading as U.S. House approved bill to ease banking for can","content":"<p>Cannabis stocks jumped in Monday morning trading&nbsp;as&nbsp;U.S. House approved bill to ease banking for cannabis companies.Canopy Growth,Tilray, Aurora Cannabis, Cronos, Sundial Growers&nbsp;and&nbsp;OrganiGram&nbsp;climbed between 2% and 6%.</p><p><blockquote>由于美国众议院批准了放宽大麻公司银行业务的法案。 Canopy Growth、Tilray、Aurora Cannabis、Cronos、Sundial Growers 和 OrganiGram 的股价上涨了 2% 至 6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b7d7c6db300ed6a9e7a2699a1884e853\" tg-width=\"399\" tg-height=\"417\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The U.S. House of Representatives late last&nbsp;Tuesday night approved a bill that would let banks to do business with cannabis companies without fear of penalty, giving traction to the least-disputed reform sought by the growing industry.</p><p><blockquote>美国众议院上周二深夜批准了一项法案，允许银行与大麻公司开展业务，而不必担心受到处罚，这为不断发展的行业所寻求的争议最少的改革提供了动力。</blockquote></p><p> The so-called SAFE Banking Act, which is the least disputed reform sought by the growing industry, got picked up as part of broader legislation, and its inclusion in the National Defense Authorization Act was approved by voice vote late Tuesday. It remains to be seen whether the bill will pass the Senate, but the House action gives it a better shot.</p><p><blockquote>所谓的《安全银行法》是不断发展的银行业所寻求的争议最少的改革，它作为更广泛立法的一部分被接受，周二晚间，该法案被纳入《国防授权法》以口头投票的方式获得批准。该法案是否会在参议院获得通过还有待观察，但众议院的行动给了它更好的机会。</blockquote></p><p> The act would be a boon for marijuana companies, which have so far been stymied by the need to deal in cash because of federal restrictions. That has meant they have extra security costs and logistical problems, even as marijuana increasingly becomes legal. Some three dozen states now allow medical or recreational use, according to New Frontier Data, a cannabis research firm.</p><p><blockquote>该法案对大麻公司来说将是一个福音，由于联邦限制，大麻公司迄今为止一直受到现金交易需求的阻碍。这意味着他们有额外的安全成本和后勤问题，即使大麻越来越合法。根据大麻研究公司New Frontier Data的数据，现在大约有36个州允许医疗或娱乐使用。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94634a1c93ee67a96440d95391009461\" tg-width=\"748\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Representative Ed Perlmutter, a Colorado Democrat, who had re-introduced the bill,has said&nbsp;that allowing cannabis businesses to access the banking system would bring more money into the economy and offer the opportunity to create good-paying jobs. The American cannabis industry had $20.3 billion in legal sales in 2020, according New Frontier Data.</p><p><blockquote>重新提出该法案的科罗拉多州民主党众议员埃德·珀尔穆特表示，允许大麻企业进入银行系统将为经济带来更多资金，并提供创造高薪就业机会的机会。根据New Frontier的数据，2020年美国大麻行业的合法销售额为203亿美元。</blockquote></p><p> The initiative, which has been passed by the House before with bipartisan support but never advanced to the Senate, is still a far cry from the wish list of legal reforms sought by the industry, which include all-out legalization and relief from tax burdens.</p><p><blockquote>该倡议此前已在两党支持下在众议院获得通过，但从未提交参议院，与该行业寻求的法律改革愿望清单相去甚远，其中包括全面合法化和减轻税收负担。</blockquote></p><p> The U.S. Cannabis Council, a trade group, called the current rules that require marijuana firms to be all-cash a security hazard.</p><p><blockquote>贸易组织美国大麻委员会称，目前要求大麻公司全现金的规定是一种安全隐患。</blockquote></p><p> “Over $17 billion in legal cannabis was sold in the United States last year, overwhelmingly through cash transactions. Forcing legitimate, well-regulated cannabis businesses to conduct most of their business in cash is anachronistic and a clear threat to public safety,” the council’s chief executive officer, Steven Hawkins, said in a statement before the bill passed.</p><p><blockquote>“去年，美国共售出超过 170 亿美元的合法大麻，其中绝大多数是通过现金交易。强迫合法、监管良好的大麻企业以现金交易进行大部分业务是不合时宜的，显然是对公共安全的威胁，”该委员会首席执行官史蒂文-霍金斯（Steven Hawkins）在法案通过前的一份声明中说。</blockquote></p><p> “Every step forward is a positive one for the cannabis industry,”BTIGanalyst Camilo Lyon said in a research note Wednesday. He said it isn’t clear whether Senator Chuck Schumer will include the act in the Senate NDAA bill.</p><p><blockquote>“BTIGA分析师卡米洛-里昂（Camilo Lyon）在周三的一份研究报告中说：”每向前迈出一步，对大麻产业来说都是积极的一步。他说，目前还不清楚参议员查克-舒默（Chuck Schumer）是否会将该法案纳入参议院 NDAA 法案。</blockquote></p><p> “Discussions with our D.C. contacts suggest it has an easier pathway of getting through the Senate, largely because no senator wants to be viewed as holding up the massive 1,700 page must-pass NDAA simply because of SAFE banking,” Lyon wrote.</p><p><blockquote>“里昂写道：”与我们在华盛顿的联系人进行的讨论表明，该法案在参议院获得通过的途径更容易，这主要是因为没有参议员愿意仅仅因为银行安全而被视为搁置长达 1700 页的必须通过的 NDAA。</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>Cannabis stocks jumped in Monday morning trading<blockquote>周一早盘交易中大麻股票上涨</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\">\nCannabis stocks jumped in Monday morning trading<blockquote>周一早盘交易中大麻股票上涨</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\">2021-09-27 23:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Cannabis stocks jumped in Monday morning trading&nbsp;as&nbsp;U.S. House approved bill to ease banking for cannabis companies.Canopy Growth,Tilray, Aurora Cannabis, Cronos, Sundial Growers&nbsp;and&nbsp;OrganiGram&nbsp;climbed between 2% and 6%.</p><p><blockquote>由于美国众议院批准了放宽大麻公司银行业务的法案。 Canopy Growth、Tilray、Aurora Cannabis、Cronos、Sundial Growers 和 OrganiGram 的股价上涨了 2% 至 6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b7d7c6db300ed6a9e7a2699a1884e853\" tg-width=\"399\" tg-height=\"417\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The U.S. House of Representatives late last&nbsp;Tuesday night approved a bill that would let banks to do business with cannabis companies without fear of penalty, giving traction to the least-disputed reform sought by the growing industry.</p><p><blockquote>美国众议院上周二深夜批准了一项法案，允许银行与大麻公司开展业务，而不必担心受到处罚，这为不断发展的行业所寻求的争议最少的改革提供了动力。</blockquote></p><p> The so-called SAFE Banking Act, which is the least disputed reform sought by the growing industry, got picked up as part of broader legislation, and its inclusion in the National Defense Authorization Act was approved by voice vote late Tuesday. It remains to be seen whether the bill will pass the Senate, but the House action gives it a better shot.</p><p><blockquote>所谓的《安全银行法》是不断发展的银行业所寻求的争议最少的改革，它作为更广泛立法的一部分被接受，周二晚间，该法案被纳入《国防授权法》以口头投票的方式获得批准。该法案是否会在参议院获得通过还有待观察，但众议院的行动给了它更好的机会。</blockquote></p><p> The act would be a boon for marijuana companies, which have so far been stymied by the need to deal in cash because of federal restrictions. That has meant they have extra security costs and logistical problems, even as marijuana increasingly becomes legal. Some three dozen states now allow medical or recreational use, according to New Frontier Data, a cannabis research firm.</p><p><blockquote>该法案对大麻公司来说将是一个福音，由于联邦限制，大麻公司迄今为止一直受到现金交易需求的阻碍。这意味着他们有额外的安全成本和后勤问题，即使大麻越来越合法。根据大麻研究公司New Frontier Data的数据，现在大约有36个州允许医疗或娱乐使用。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94634a1c93ee67a96440d95391009461\" tg-width=\"748\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Representative Ed Perlmutter, a Colorado Democrat, who had re-introduced the bill,has said&nbsp;that allowing cannabis businesses to access the banking system would bring more money into the economy and offer the opportunity to create good-paying jobs. The American cannabis industry had $20.3 billion in legal sales in 2020, according New Frontier Data.</p><p><blockquote>重新提出该法案的科罗拉多州民主党众议员埃德·珀尔穆特表示，允许大麻企业进入银行系统将为经济带来更多资金，并提供创造高薪就业机会的机会。根据New Frontier的数据，2020年美国大麻行业的合法销售额为203亿美元。</blockquote></p><p> The initiative, which has been passed by the House before with bipartisan support but never advanced to the Senate, is still a far cry from the wish list of legal reforms sought by the industry, which include all-out legalization and relief from tax burdens.</p><p><blockquote>该倡议此前已在两党支持下在众议院获得通过，但从未提交参议院，与该行业寻求的法律改革愿望清单相去甚远，其中包括全面合法化和减轻税收负担。</blockquote></p><p> The U.S. Cannabis Council, a trade group, called the current rules that require marijuana firms to be all-cash a security hazard.</p><p><blockquote>贸易组织美国大麻委员会称，目前要求大麻公司全现金的规定是一种安全隐患。</blockquote></p><p> “Over $17 billion in legal cannabis was sold in the United States last year, overwhelmingly through cash transactions. Forcing legitimate, well-regulated cannabis businesses to conduct most of their business in cash is anachronistic and a clear threat to public safety,” the council’s chief executive officer, Steven Hawkins, said in a statement before the bill passed.</p><p><blockquote>“去年，美国共售出超过 170 亿美元的合法大麻，其中绝大多数是通过现金交易。强迫合法、监管良好的大麻企业以现金交易进行大部分业务是不合时宜的，显然是对公共安全的威胁，”该委员会首席执行官史蒂文-霍金斯（Steven Hawkins）在法案通过前的一份声明中说。</blockquote></p><p> “Every step forward is a positive one for the cannabis industry,”BTIGanalyst Camilo Lyon said in a research note Wednesday. He said it isn’t clear whether Senator Chuck Schumer will include the act in the Senate NDAA bill.</p><p><blockquote>“BTIGA分析师卡米洛-里昂（Camilo Lyon）在周三的一份研究报告中说：”每向前迈出一步，对大麻产业来说都是积极的一步。他说，目前还不清楚参议员查克-舒默（Chuck Schumer）是否会将该法案纳入参议院 NDAA 法案。</blockquote></p><p> “Discussions with our D.C. contacts suggest it has an easier pathway of getting through the Senate, largely because no senator wants to be viewed as holding up the massive 1,700 page must-pass NDAA simply because of SAFE banking,” Lyon wrote.</p><p><blockquote>“里昂写道：”与我们在华盛顿的联系人进行的讨论表明，该法案在参议院获得通过的途径更容易，这主要是因为没有参议员愿意仅仅因为银行安全而被视为搁置长达 1700 页的必须通过的 NDAA。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNDL":"SNDL Inc.","CGC":"Canopy Growth Corporation","CRON":"Cronos Group Inc.","TLRY":"Tilray Inc.","MJ":"Amplify Alternative Harvest ETF","ACB":"奥罗拉大麻公司","OGI":"ORGANIGRAM HOLD"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143307489","content_text":"Cannabis stocks jumped in Monday morning trading as U.S. House approved bill to ease banking for cannabis companies.Canopy Growth,Tilray, Aurora Cannabis, Cronos, Sundial Growers and OrganiGram climbed between 2% and 6%.\n\nThe U.S. House of Representatives late last Tuesday night approved a bill that would let banks to do business with cannabis companies without fear of penalty, giving traction to the least-disputed reform sought by the growing industry.\nThe so-called SAFE Banking Act, which is the least disputed reform sought by the growing industry, got picked up as part of broader legislation, and its inclusion in the National Defense Authorization Act was approved by voice vote late Tuesday. It remains to be seen whether the bill will pass the Senate, but the House action gives it a better shot.\nThe act would be a boon for marijuana companies, which have so far been stymied by the need to deal in cash because of federal restrictions. That has meant they have extra security costs and logistical problems, even as marijuana increasingly becomes legal. Some three dozen states now allow medical or recreational use, according to New Frontier Data, a cannabis research firm.\n\nRepresentative Ed Perlmutter, a Colorado Democrat, who had re-introduced the bill,has said that allowing cannabis businesses to access the banking system would bring more money into the economy and offer the opportunity to create good-paying jobs. The American cannabis industry had $20.3 billion in legal sales in 2020, according New Frontier Data.\nThe initiative, which has been passed by the House before with bipartisan support but never advanced to the Senate, is still a far cry from the wish list of legal reforms sought by the industry, which include all-out legalization and relief from tax burdens.\nThe U.S. Cannabis Council, a trade group, called the current rules that require marijuana firms to be all-cash a security hazard.\n“Over $17 billion in legal cannabis was sold in the United States last year, overwhelmingly through cash transactions. Forcing legitimate, well-regulated cannabis businesses to conduct most of their business in cash is anachronistic and a clear threat to public safety,” the council’s chief executive officer, Steven Hawkins, said in a statement before the bill passed.\n“Every step forward is a positive one for the cannabis industry,”BTIGanalyst Camilo Lyon said in a research note Wednesday. He said it isn’t clear whether Senator Chuck Schumer will include the act in the Senate NDAA bill.\n“Discussions with our D.C. contacts suggest it has an easier pathway of getting through the Senate, largely because no senator wants to be viewed as holding up the massive 1,700 page must-pass NDAA simply because of SAFE banking,” Lyon wrote.","news_type":1,"symbols_score_info":{"TLRY":0.9,"SNDL":0.9,"CRON":0.9,"OGI":0.9,"MJ":0.9,"CGC":0.9,"ACB":0.9}},"isVote":1,"tweetType":1,"viewCount":960,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":896957505,"gmtCreate":1628553267607,"gmtModify":1633746277459,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Like and comment thanks","listText":"Like and comment thanks","text":"Like and comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/896957505","repostId":"1196813173","repostType":4,"isVote":1,"tweetType":1,"viewCount":487,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107420470,"gmtCreate":1620530626990,"gmtModify":1634198214636,"author":{"id":"3564142991914856","authorId":"3564142991914856","name":"Jaymand","avatar":"https://static.tigerbbs.com/e2ef74d005aec91c36d540483cb5d0f1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564142991914856","idStr":"3564142991914856"},"themes":[],"title":"","htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/107420470","repostId":"1193602237","repostType":4,"repost":{"id":"1193602237","kind":"news","pubTimestamp":1620471120,"share":"https://www.laohunote.com/m/news/1193602237?lang=zh_CN&edition=full","pubTime":"2021-05-08 18:52","market":"us","language":"en","title":"U.S. hiring takes big step back as businesses scramble for workers, raw materials<blockquote>随着企业争夺工人和原材料，美国招聘大幅倒退</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1193602237","media":"reuters","summary":"U.S. employers likely hired nearly a million workers in April as they rushed to meet a surge in dema","content":"<p>U.S. employers likely hired nearly a million workers in April as they rushed to meet a surge in demand, unleashed by the reopening of the economy amid rapidly improving public health and massive financial help from the government.</p><p><blockquote>美国雇主可能在 4 月份雇佣了近 100 万名工人，因为他们急于满足需求激增，这是在公共卫生迅速改善和政府提供大量财政援助的情况下经济重新开放所释放的。</blockquote></p><p>The Labor Department's closely watched employment report on Friday will be the first to show the impact of the White House's $1.9 trillion COVID-19 pandemic rescue package, which was approved in March. It is likely to show the economy entered the second quarter with even greater momentum, firmly putting it on track this year for its best performance in almost four decades.</p><p><blockquote>美国劳工部周五发布的备受关注的就业报告将首次显示白宫 3 月份批准的 1.9 万亿美元 COVID-19 大流行救助计划的影响。这可能表明经济以更大的势头进入第二季度，坚定地走上了今年近四十年来最好表现的轨道。</blockquote></p><p>\"We are looking for a pretty good figure, reflecting the ongoing reopening we have seen,\" said James Knightley, chief international economist at ING in New York. \"With cash in people's pockets, economic activity is looking good and that should lead to more and more hiring right across the economy.\"</p><p><blockquote>荷兰国际集团驻纽约首席国际经济学家詹姆斯·奈特利表示：“我们正在寻找一个相当不错的数字，反映我们所看到的正在进行的重新开放。”“随着人们口袋里有了现金，经济活动看起来不错，这应该会导致整个经济中越来越多的招聘。”</blockquote></p><p>According to a Reuters survey of economists, nonfarm payrolls likely increased by 978,000 jobs last month after rising by 916,000 in March. That would leave employment about 7.5 million jobs below its peak in February 2020.</p><p><blockquote>根据路透社对经济学家的调查，继3月份增加91.6万个之后，上个月非农就业人数可能增加97.8万个。这将使就业人数比 2020 年 2 月的峰值低约 750 万个。</blockquote></p><p>Twelve months ago, the economy purged a record 20.679 million jobs as it reeled from mandatory closures of nonessential businesses to slow the first wave of COVID-19 infections.</p><p><blockquote>12 个月前，经济因强制关闭非必要企业以减缓第一波 COVID-19 感染而减少了创纪录的 2067.9 万个工作岗位。</blockquote></p><p>April's payrolls estimates range from as low as 656,000 to as high as 2.1 million jobs. New claims for unemployment benefits have dropped below 500,000 for the first-time since the pandemic started and job cuts announced by U.S.-based employers in April were the lowest in nearly 21 years.</p><p><blockquote>4月份的就业人数估计从低至65.6万人到高达210万人不等。自疫情爆发以来，新申请失业救济人数首次降至 50 万人以下，美国雇主 4 月份宣布的裁员人数为近 21 年来的最低水平。</blockquote></p><p>Also arguing for another month of blockbuster job growth, consumers' perceptions of the labor market are the strongest in 13 months. But the pent-up demand, which contributed to the economy's 6.4% annualized growth pace in the first quarter, the second-fastest since the third quarter of 2003, has triggered shortages of labor and raw materials.</p><p><blockquote>消费者对劳动力市场的看法也是 13 个月来最强劲的，这也表明就业又出现了大幅增长。但被压抑的需求导致了劳动力和原材料短缺，第一季度经济年化增长率为 6.4%，这是自 2003 年第三季度以来的第二快增长率。</blockquote></p><p>From manufacturing to restaurants, employers are scrambling for workers. A range of factors, including parents still at home caring for children, coronavirus-related retirements and generous unemployment checks, are blamed for the labor shortages.</p><p><blockquote>从制造业到餐馆，雇主们都在争抢工人。劳动力短缺被归咎于一系列因素，包括仍在家照顾孩子的父母、与冠状病毒相关的退休和慷慨的失业支票。</blockquote></p><p>\"While we do not expect that lack of workers will weigh noticeably on April employment, rehiring could become more difficult in coming months before expanded unemployment benefits expire in September,\" said Veronica Clark, an economist at Citigroup in New York.</p><p><blockquote>花旗集团驻纽约经济学家维罗妮卡·克拉克表示：“虽然我们预计工人短缺不会对 4 月份的就业造成明显影响，但在扩大的失业救济金于 9 月份到期之前，未来几个月重新招聘可能会变得更加困难。”</blockquote></p><p>Payroll gains were likely led by the leisure and hospitality industry as more high-contact businesses such as restaurants, bars and amusement parks reopen. Americans over the age of 16 are now eligible to receive the COVID-19 vaccine, leading states like New York, New Jersey and Connecticut to lift most of their coronavirus capacity restrictions on businesses.</p><p><blockquote>随着餐馆、酒吧和游乐园等更多高接触的企业重新开业，休闲和酒店业可能会推动工资增长。16岁以上的美国人现在有资格接种新冠肺炎疫苗，导致纽约州、新泽西州和康涅狄格州等州取消了对企业的大部分冠状病毒产能限制。</blockquote></p><p>BROAD EMPLOYMENT GAINS</p><p><blockquote>广泛的就业增长</blockquote></p><p>Solid gains were also expected in manufacturing, despite a global semiconductor chip shortage, which has forced motor vehicle manufacturers to cut production. Strong housing demand likely boosted construction payrolls.</p><p><blockquote>尽管全球半导体芯片短缺迫使汽车制造商减产，但预计制造业也将稳步增长。强劲的住房需求可能会推高建筑业就业人数。</blockquote></p><p>Government employment is also expected to have picked up as school districts hired more teachers following the resumption of in-person learning in many states.</p><p><blockquote>随着许多州恢复面对面学习，学区雇佣了更多教师，政府就业预计也会增加。</blockquote></p><p>Robust hiring is unlikely to have an impact on President Joe Biden's plan to spend another $4 trillion on education and childcare, middle- and low-income families, infrastructure and jobs. Neither was it expected to influence monetary policy, with the Federal Reserve having signaled it is prepared to let the economy run hotter than it did in previous cycles.</p><p><blockquote>强劲的招聘不太可能对乔·拜登总统在教育和儿童保育、中低收入家庭、基础设施和就业方面再支出 4 万亿美元的计划产生影响。预计它也不会影响货币政策，美联储已表示准备让经济运行比前几个周期更热。</blockquote></p><p>Millions of Americans remain out of work and many have permanently lost jobs because of the pandemic.</p><p><blockquote>数百万美国人仍然失业，许多人因为疫情而永久失业。</blockquote></p><p>\"Nobody knows what the economy is going to look like post COVID,\" said Steven Blitz, chief U.S. economist at TS Lombard in New York. \"There is a stubbornly high number of people who have been permanently displaced. The (spending) plans are about giving the economy a higher trajectory of growth so that these people can be hired sooner rather than later.\"</p><p><blockquote>纽约 TS Lombard 首席美国经济学家史蒂文·布利茨 (Steven Blitz) 表示：“没有人知道新冠疫情过后的经济会是什么样子。”“永久流离失所的人数一直居高不下。（支出）计划的目的是让经济走上更高的增长轨迹，以便这些人能够尽早就业。”</blockquote></p><p>The unemployment rate is forecast dropping to 5.8% in April from 6.0% in March. The unemployment rate has been understated by people misclassifying themselves as being \"employed but absent from work.\"</p><p><blockquote>失业率预计将从3月份的6.0%降至4月份的5.8%。人们错误地将自己归类为“有工作但不工作”，从而低估了失业率。</blockquote></p><p>To gauge the recovery, economists will focus on the number of people who have been unemployed for more than six months as well as those out of work because of permanent job losses.</p><p><blockquote>为了衡量经济复苏，经济学家将关注失业超过六个月的人数以及因永久性失业而失业的人数。</blockquote></p><p>The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, likely improved last month, though it remained below its pre-pandemic level. More than 4 million people, many of them women, dropped out of the labor force during the pandemic.</p><p><blockquote>劳动力参与率，即拥有工作或正在寻找工作的工作年龄美国人的比例，上个月可能有所改善，尽管仍低于大流行前的水平。在疫情期间，超过400万人，其中许多是妇女，退出了劳动力市场。</blockquote></p><p></p><p>With the lower-wage leisure and hospitality industry expected to dominate employment gains, average hourly earnings were likely unchanged in April after dipping 0.1% in March. That would lead to a 0.4% drop in wages on a year-on-year basis after a 4.2% increase in March.</p><p><blockquote>由于工资较低的休闲和酒店业预计将主导就业增长，平均时薪在3月份下降0.1%后，4月份可能保持不变。这将导致工资在3月份增长4.2%后同比下降0.4%。</blockquote></p><p>\"We will be watching average hourly earnings very closely for signs that difficulty in hiring qualified workers is beginning to boost compensation,\" said David Kelly, chief global strategist at J.P. Morgan Asset Management in New York.</p><p><blockquote>摩根大通资产管理公司(J.P. Morgan Asset Management)驻纽约首席全球策略师大卫·凯利(David Kelly)表示：“我们将密切关注平均时薪，寻找招聘合格工人的困难开始推高薪酬的迹象。”</blockquote></p><p>\"If tightening labor markets boost wage growth, then the inflation bounce which the Fed is anticipating to be modest and transitory could turn out to be stronger and longer-lasting, leading to earlier Fed tightening.\"</p><p><blockquote>“如果劳动力市场收紧推动工资增长，那么美联储预计温和且短暂的通胀反弹可能会变得更强劲、更持久，从而导致美联储提前收紧货币政策。”</blockquote></p><p>The anticipated drop in wages will have no impact on consumer spending, with Americans sitting on more than $2 trillion in excess savings. The average workweek was forecast steady at 34.9 hours.</p><p><blockquote>预计工资下降不会对消费者支出产生影响，美国人有超过2万亿美元的超额储蓄。平均工作周预计稳定在34.9小时。</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>U.S. hiring takes big step back as businesses scramble for workers, raw materials<blockquote>随着企业争夺工人和原材料，美国招聘大幅倒退</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\">\nU.S. hiring takes big step back as businesses scramble for workers, raw materials<blockquote>随着企业争夺工人和原材料，美国招聘大幅倒退</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">reuters</strong><span class=\"h-time small\">2021-05-08 18:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>U.S. employers likely hired nearly a million workers in April as they rushed to meet a surge in demand, unleashed by the reopening of the economy amid rapidly improving public health and massive financial help from the government.</p><p><blockquote>美国雇主可能在 4 月份雇佣了近 100 万名工人，因为他们急于满足需求激增，这是在公共卫生迅速改善和政府提供大量财政援助的情况下经济重新开放所释放的。</blockquote></p><p>The Labor Department's closely watched employment report on Friday will be the first to show the impact of the White House's $1.9 trillion COVID-19 pandemic rescue package, which was approved in March. It is likely to show the economy entered the second quarter with even greater momentum, firmly putting it on track this year for its best performance in almost four decades.</p><p><blockquote>美国劳工部周五发布的备受关注的就业报告将首次显示白宫 3 月份批准的 1.9 万亿美元 COVID-19 大流行救助计划的影响。这可能表明经济以更大的势头进入第二季度，坚定地走上了今年近四十年来最好表现的轨道。</blockquote></p><p>\"We are looking for a pretty good figure, reflecting the ongoing reopening we have seen,\" said James Knightley, chief international economist at ING in New York. \"With cash in people's pockets, economic activity is looking good and that should lead to more and more hiring right across the economy.\"</p><p><blockquote>荷兰国际集团驻纽约首席国际经济学家詹姆斯·奈特利表示：“我们正在寻找一个相当不错的数字，反映我们所看到的正在进行的重新开放。”“随着人们口袋里有了现金，经济活动看起来不错，这应该会导致整个经济中越来越多的招聘。”</blockquote></p><p>According to a Reuters survey of economists, nonfarm payrolls likely increased by 978,000 jobs last month after rising by 916,000 in March. That would leave employment about 7.5 million jobs below its peak in February 2020.</p><p><blockquote>根据路透社对经济学家的调查，继3月份增加91.6万个之后，上个月非农就业人数可能增加97.8万个。这将使就业人数比 2020 年 2 月的峰值低约 750 万个。</blockquote></p><p>Twelve months ago, the economy purged a record 20.679 million jobs as it reeled from mandatory closures of nonessential businesses to slow the first wave of COVID-19 infections.</p><p><blockquote>12 个月前，经济因强制关闭非必要企业以减缓第一波 COVID-19 感染而减少了创纪录的 2067.9 万个工作岗位。</blockquote></p><p>April's payrolls estimates range from as low as 656,000 to as high as 2.1 million jobs. New claims for unemployment benefits have dropped below 500,000 for the first-time since the pandemic started and job cuts announced by U.S.-based employers in April were the lowest in nearly 21 years.</p><p><blockquote>4月份的就业人数估计从低至65.6万人到高达210万人不等。自疫情爆发以来，新申请失业救济人数首次降至 50 万人以下，美国雇主 4 月份宣布的裁员人数为近 21 年来的最低水平。</blockquote></p><p>Also arguing for another month of blockbuster job growth, consumers' perceptions of the labor market are the strongest in 13 months. But the pent-up demand, which contributed to the economy's 6.4% annualized growth pace in the first quarter, the second-fastest since the third quarter of 2003, has triggered shortages of labor and raw materials.</p><p><blockquote>消费者对劳动力市场的看法也是 13 个月来最强劲的，这也表明就业又出现了大幅增长。但被压抑的需求导致了劳动力和原材料短缺，第一季度经济年化增长率为 6.4%，这是自 2003 年第三季度以来的第二快增长率。</blockquote></p><p>From manufacturing to restaurants, employers are scrambling for workers. A range of factors, including parents still at home caring for children, coronavirus-related retirements and generous unemployment checks, are blamed for the labor shortages.</p><p><blockquote>从制造业到餐馆，雇主们都在争抢工人。劳动力短缺被归咎于一系列因素，包括仍在家照顾孩子的父母、与冠状病毒相关的退休和慷慨的失业支票。</blockquote></p><p>\"While we do not expect that lack of workers will weigh noticeably on April employment, rehiring could become more difficult in coming months before expanded unemployment benefits expire in September,\" said Veronica Clark, an economist at Citigroup in New York.</p><p><blockquote>花旗集团驻纽约经济学家维罗妮卡·克拉克表示：“虽然我们预计工人短缺不会对 4 月份的就业造成明显影响，但在扩大的失业救济金于 9 月份到期之前，未来几个月重新招聘可能会变得更加困难。”</blockquote></p><p>Payroll gains were likely led by the leisure and hospitality industry as more high-contact businesses such as restaurants, bars and amusement parks reopen. Americans over the age of 16 are now eligible to receive the COVID-19 vaccine, leading states like New York, New Jersey and Connecticut to lift most of their coronavirus capacity restrictions on businesses.</p><p><blockquote>随着餐馆、酒吧和游乐园等更多高接触的企业重新开业，休闲和酒店业可能会推动工资增长。16岁以上的美国人现在有资格接种新冠肺炎疫苗，导致纽约州、新泽西州和康涅狄格州等州取消了对企业的大部分冠状病毒产能限制。</blockquote></p><p>BROAD EMPLOYMENT GAINS</p><p><blockquote>广泛的就业增长</blockquote></p><p>Solid gains were also expected in manufacturing, despite a global semiconductor chip shortage, which has forced motor vehicle manufacturers to cut production. Strong housing demand likely boosted construction payrolls.</p><p><blockquote>尽管全球半导体芯片短缺迫使汽车制造商减产，但预计制造业也将稳步增长。强劲的住房需求可能会推高建筑业就业人数。</blockquote></p><p>Government employment is also expected to have picked up as school districts hired more teachers following the resumption of in-person learning in many states.</p><p><blockquote>随着许多州恢复面对面学习，学区雇佣了更多教师，政府就业预计也会增加。</blockquote></p><p>Robust hiring is unlikely to have an impact on President Joe Biden's plan to spend another $4 trillion on education and childcare, middle- and low-income families, infrastructure and jobs. Neither was it expected to influence monetary policy, with the Federal Reserve having signaled it is prepared to let the economy run hotter than it did in previous cycles.</p><p><blockquote>强劲的招聘不太可能对乔·拜登总统在教育和儿童保育、中低收入家庭、基础设施和就业方面再支出 4 万亿美元的计划产生影响。预计它也不会影响货币政策，美联储已表示准备让经济运行比前几个周期更热。</blockquote></p><p>Millions of Americans remain out of work and many have permanently lost jobs because of the pandemic.</p><p><blockquote>数百万美国人仍然失业，许多人因为疫情而永久失业。</blockquote></p><p>\"Nobody knows what the economy is going to look like post COVID,\" said Steven Blitz, chief U.S. economist at TS Lombard in New York. \"There is a stubbornly high number of people who have been permanently displaced. The (spending) plans are about giving the economy a higher trajectory of growth so that these people can be hired sooner rather than later.\"</p><p><blockquote>纽约 TS Lombard 首席美国经济学家史蒂文·布利茨 (Steven Blitz) 表示：“没有人知道新冠疫情过后的经济会是什么样子。”“永久流离失所的人数一直居高不下。（支出）计划的目的是让经济走上更高的增长轨迹，以便这些人能够尽早就业。”</blockquote></p><p>The unemployment rate is forecast dropping to 5.8% in April from 6.0% in March. The unemployment rate has been understated by people misclassifying themselves as being \"employed but absent from work.\"</p><p><blockquote>失业率预计将从3月份的6.0%降至4月份的5.8%。人们错误地将自己归类为“有工作但不工作”，从而低估了失业率。</blockquote></p><p>To gauge the recovery, economists will focus on the number of people who have been unemployed for more than six months as well as those out of work because of permanent job losses.</p><p><blockquote>为了衡量经济复苏，经济学家将关注失业超过六个月的人数以及因永久性失业而失业的人数。</blockquote></p><p>The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, likely improved last month, though it remained below its pre-pandemic level. More than 4 million people, many of them women, dropped out of the labor force during the pandemic.</p><p><blockquote>劳动力参与率，即拥有工作或正在寻找工作的工作年龄美国人的比例，上个月可能有所改善，尽管仍低于大流行前的水平。在疫情期间，超过400万人，其中许多是妇女，退出了劳动力市场。</blockquote></p><p></p><p>With the lower-wage leisure and hospitality industry expected to dominate employment gains, average hourly earnings were likely unchanged in April after dipping 0.1% in March. That would lead to a 0.4% drop in wages on a year-on-year basis after a 4.2% increase in March.</p><p><blockquote>由于工资较低的休闲和酒店业预计将主导就业增长，平均时薪在3月份下降0.1%后，4月份可能保持不变。这将导致工资在3月份增长4.2%后同比下降0.4%。</blockquote></p><p>\"We will be watching average hourly earnings very closely for signs that difficulty in hiring qualified workers is beginning to boost compensation,\" said David Kelly, chief global strategist at J.P. Morgan Asset Management in New York.</p><p><blockquote>摩根大通资产管理公司(J.P. Morgan Asset Management)驻纽约首席全球策略师大卫·凯利(David Kelly)表示：“我们将密切关注平均时薪，寻找招聘合格工人的困难开始推高薪酬的迹象。”</blockquote></p><p>\"If tightening labor markets boost wage growth, then the inflation bounce which the Fed is anticipating to be modest and transitory could turn out to be stronger and longer-lasting, leading to earlier Fed tightening.\"</p><p><blockquote>“如果劳动力市场收紧推动工资增长，那么美联储预计温和且短暂的通胀反弹可能会变得更强劲、更持久，从而导致美联储提前收紧货币政策。”</blockquote></p><p>The anticipated drop in wages will have no impact on consumer spending, with Americans sitting on more than $2 trillion in excess savings. The average workweek was forecast steady at 34.9 hours.</p><p><blockquote>预计工资下降不会对消费者支出产生影响，美国人有超过2万亿美元的超额储蓄。平均工作周预计稳定在34.9小时。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/markets\">reuters</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":{},"source_url":"https://www.reuters.com/markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193602237","content_text":"U.S. employers likely hired nearly a million workers in April as they rushed to meet a surge in demand, unleashed by the reopening of the economy amid rapidly improving public health and massive financial help from the government.The Labor Department's closely watched employment report on Friday will be the first to show the impact of the White House's $1.9 trillion COVID-19 pandemic rescue package, which was approved in March. It is likely to show the economy entered the second quarter with even greater momentum, firmly putting it on track this year for its best performance in almost four decades.\"We are looking for a pretty good figure, reflecting the ongoing reopening we have seen,\" said James Knightley, chief international economist at ING in New York. \"With cash in people's pockets, economic activity is looking good and that should lead to more and more hiring right across the economy.\"According to a Reuters survey of economists, nonfarm payrolls likely increased by 978,000 jobs last month after rising by 916,000 in March. That would leave employment about 7.5 million jobs below its peak in February 2020.Twelve months ago, the economy purged a record 20.679 million jobs as it reeled from mandatory closures of nonessential businesses to slow the first wave of COVID-19 infections.April's payrolls estimates range from as low as 656,000 to as high as 2.1 million jobs. New claims for unemployment benefits have dropped below 500,000 for the first-time since the pandemic started and job cuts announced by U.S.-based employers in April were the lowest in nearly 21 years.Also arguing for another month of blockbuster job growth, consumers' perceptions of the labor market are the strongest in 13 months. But the pent-up demand, which contributed to the economy's 6.4% annualized growth pace in the first quarter, the second-fastest since the third quarter of 2003, has triggered shortages of labor and raw materials.From manufacturing to restaurants, employers are scrambling for workers. A range of factors, including parents still at home caring for children, coronavirus-related retirements and generous unemployment checks, are blamed for the labor shortages.\"While we do not expect that lack of workers will weigh noticeably on April employment, rehiring could become more difficult in coming months before expanded unemployment benefits expire in September,\" said Veronica Clark, an economist at Citigroup in New York.Payroll gains were likely led by the leisure and hospitality industry as more high-contact businesses such as restaurants, bars and amusement parks reopen. Americans over the age of 16 are now eligible to receive the COVID-19 vaccine, leading states like New York, New Jersey and Connecticut to lift most of their coronavirus capacity restrictions on businesses.BROAD EMPLOYMENT GAINSSolid gains were also expected in manufacturing, despite a global semiconductor chip shortage, which has forced motor vehicle manufacturers to cut production. Strong housing demand likely boosted construction payrolls.Government employment is also expected to have picked up as school districts hired more teachers following the resumption of in-person learning in many states.Robust hiring is unlikely to have an impact on President Joe Biden's plan to spend another $4 trillion on education and childcare, middle- and low-income families, infrastructure and jobs. Neither was it expected to influence monetary policy, with the Federal Reserve having signaled it is prepared to let the economy run hotter than it did in previous cycles.Millions of Americans remain out of work and many have permanently lost jobs because of the pandemic.\"Nobody knows what the economy is going to look like post COVID,\" said Steven Blitz, chief U.S. economist at TS Lombard in New York. \"There is a stubbornly high number of people who have been permanently displaced. The (spending) plans are about giving the economy a higher trajectory of growth so that these people can be hired sooner rather than later.\"The unemployment rate is forecast dropping to 5.8% in April from 6.0% in March. The unemployment rate has been understated by people misclassifying themselves as being \"employed but absent from work.\"To gauge the recovery, economists will focus on the number of people who have been unemployed for more than six months as well as those out of work because of permanent job losses.The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, likely improved last month, though it remained below its pre-pandemic level. More than 4 million people, many of them women, dropped out of the labor force during the pandemic.With the lower-wage leisure and hospitality industry expected to dominate employment gains, average hourly earnings were likely unchanged in April after dipping 0.1% in March. That would lead to a 0.4% drop in wages on a year-on-year basis after a 4.2% increase in March.\"We will be watching average hourly earnings very closely for signs that difficulty in hiring qualified workers is beginning to boost compensation,\" said David Kelly, chief global strategist at J.P. Morgan Asset Management in New York.\"If tightening labor markets boost wage growth, then the inflation bounce which the Fed is anticipating to be modest and transitory could turn out to be stronger and longer-lasting, leading to earlier Fed tightening.\"The anticipated drop in wages will have no impact on consumer spending, with Americans sitting on more than $2 trillion in excess savings. 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