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Idl3mind

Idl3mind

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2021-07-20

Good that it will rally

Stocks open slightly higher in attempt to bounce back from Monday selloff<blockquote>股市小幅高开，试图从周一的抛售中反弹</blockquote>

2021-08-03

That’s real bad Please like my comment brothers

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2021-08-02

Like pls

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2021-07-22

Wow

抱歉，原内容已删除

2021-08-03

Good

抱歉，原内容已删除

2021-07-29

Like bros

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2021-07-29

Good

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2021-07-20

Wow

Stocks open slightly higher in attempt to bounce back from Monday selloff<blockquote>股市小幅高开，试图从周一的抛售中反弹</blockquote>

2021-07-20

Wow

抱歉，原内容已删除

2021-07-29

Good

Why AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</blockquote>

去老虎APP查看更多动态

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What’s your opinion ? This years Santa Cruz rallyseems to be lack lustre&nbsp;","listText":"What’s your opinion ? This years Santa Cruz rallyseems to be lack lustre&nbsp;","text":"What’s your opinion ? 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Of the 427 companies in the index that have reported earnings so far, 87.6% beat analyst expectations, the highest on record.</p><p><blockquote>根据Refinitiv的IBES数据，分析师预计标普500公司第二季度利润将增长92.9%。在该指数迄今已公布财报的427家公司中，87.6%的公司超出分析师预期，为有记录以来的最高水平。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <a href=\"https://laohu8.com/S/SAFM\">Sanderson Farms</a> – The poultry producer agreed to be acquired for about $4.5 billion, or $203 per share, by privately-held food producer Cargill and agriculture investment firm Continental Grain. The all-cash deal represents an 11.3% premium over Friday’s closing price for Sanderson Farms. Sanderson shares surged 8.3% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/SAFM\">桑德森农场</a>-这家家禽生产商同意被私营食品生产商嘉吉和农业投资公司Continental Grain以约45亿美元（即每股203美元）的价格收购。这笔全现金交易较桑德森农场周五收盘价溢价11.3%。桑德森股价盘前飙升8.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> – Tesla gained 1.6% in the premarket after Jefferies upgraded the stock to “buy” from “hold,” based on what the firm feels is more efficient capital deployment and an improved ability by auto manufacturers to increase profit margins over time.</p><p><blockquote><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>-杰富瑞(Jefferies)将特斯拉股票评级从“持有”上调至“买入”，原因是该公司认为资本配置效率更高，以及汽车制造商随着时间的推移提高利润率的能力有所提高，该公司盘前股价上涨1.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/USFD\">US Foods Holding Corp</a> – The foodservice distributor’s shares rallied 6.5% in the premarket after beating Street forecasts with its second-quarter profit and revenue. U.S. Foods earned 58 cents per share, 22 cents a share above estimates, helped by strong demand for its products and services as the industry recovers from the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/USFD\">美国食品控股公司</a>-这家餐饮服务分销商第二季度利润和收入超出华尔街预期后，其股价在盘前上涨6.5%。美国食品公司每股盈利58美分，比预期高出22美分，这得益于该行业从疫情中复苏，对其产品和服务的强劲需求。</blockquote></p><p> <a href=\"https://laohu8.com/S/TSN\">Tyson</a> – The beef and poultry producer reported quarterly earnings of $2.70 per share, well above the consensus estimate of $1.62 a share. Revenue also came in above analysts’ projections. Results got a boost from strong consumer demand as well as restaurant reopenings. Tyson shares rose 2.6% in premarket trading.ovid</p><p><blockquote><a href=\"https://laohu8.com/S/TSN\">泰森</a>-这家牛肉和家禽生产商报告季度收益为每股2.70美元，远高于每股1.62美元的普遍预期。收入也高于分析师的预测。强劲的消费者需求以及餐厅重新开业提振了业绩。泰森食品股价在盘前交易中上涨2.6%。ovid</blockquote></p><p> <a href=\"https://laohu8.com/S/NCLH\">Norwegian Cruise Line</a> – A federal judge ruled that the cruise linecan ask passengers for proof of Covid-19 vaccination, temporarily blocking a Florida law banning that practice.</p><p><blockquote><a href=\"https://laohu8.com/S/NCLH\">挪威邮轮公司</a>–一名联邦法官裁定，邮轮公司可以要求乘客提供Covid-19疫苗接种证明，暂时阻止了佛罗里达州禁止这种做法的法律。</blockquote></p><p> <a href=\"https://laohu8.com/S/BRK.B\">Berkshire Hathaway</a> – Berkshire shares rose 1.2% in premarket tradingafter it reported a 7% increasein second-quarter earnings. Berkshire’s results were helped by a rebound across its businesses including its railroad and energy companies.</p><p><blockquote><a href=\"https://laohu8.com/S/BRK.B\">伯克希尔哈撒韦</a>-伯克希尔股价在盘前交易中上涨1.2%，此前该公司公布第二季度盈利增长7%。伯克希尔的业绩得益于其铁路和能源公司等业务的反弹。</blockquote></p><p> <a href=\"https://laohu8.com/S/VNE\">Veoneer, Inc.</a> – The auto parts maker said it would begin talks withQualcomm(QCOM) about the chip maker’s takeover bid, which topped a bid from automotive software makerMagna International(MGA) that had been previously approved by Veoneer’s board. Qualcomm’s bid is worth $4.6 billion, compared to the approximately $3.8 billion value of Magna’s deal. Veoneer slid 3.3% in premarket trading.</p><p><blockquote><a href=\"https://laohu8.com/S/VNE\">维尼尔公司。</a>–这家汽车零部件制造商表示，将开始与高通(QCOM)就该芯片制造商的收购要约进行谈判，该收购要约高于汽车软件制造商麦格纳国际(MGA)此前已获得Veoneer董事会批准的收购要约。高通的出价价值46亿美元，而麦格纳的交易价值约为38亿美元。Veoneer在盘前交易中下跌3.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/EXAS\">Exact Sciences</a> – The molecular diagnostics company has approached genetic testing firmInvitae(NVTA) about a possible merger, according to people familiar with the matter who spoke to Bloomberg. The people said the two sides are not in active talks and that a seal would likely be a low-premium, all-stock transaction. Invitae surged 7.2% in the premarket while Exact Sciences fell 2%.</p><p><blockquote><a href=\"https://laohu8.com/S/EXAS\">精确科学</a>–据接受彭博社采访的知情人士透露，这家分子诊断公司已就可能的合并事宜与基因检测公司MinVitae(NVTA)接洽。知情人士表示，双方并未进行积极谈判，seal可能是一项低溢价、全股票交易。Invitae盘前飙升7.2%，而Exact Sciences下跌2%。</blockquote></p><p> <a href=\"https://laohu8.com/S/DLTR\">Dollar Tree</a> – The discount retailer was downgraded to “hold” from “buy” at Deutsche Bank, which expressed concerns about the impact of increased freight and labor costs on profit margins. Dollar Tree lost 1.5% in premarket action.</p><p><blockquote><a href=\"https://laohu8.com/S/DLTR\">美元树</a>-德意志银行将这家折扣零售商的评级从“买入”下调至“持有”，该行对运费和劳动力成本增加对利润率的影响表示担忧。Dollar Tree在盘前下跌1.5%。</blockquote></p><p> <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a> ,<a href=\"https://laohu8.com/S/CVX\">Chevron</a> – These and other energy companies are under pressure as&nbsp;oil prices slide&nbsp;following &nbsp;a&nbsp;U.N. report on the impact of climate change. Exxon fell 1.3% in premarket trading, while Chevron was down 1.6%.</p><p><blockquote><a href=\"https://laohu8.com/S/XOM\">埃克森美孚</a>,<a href=\"https://laohu8.com/S/CVX\">雪佛龙</a>——这些公司和其他能源公司正面临压力，因为油价在联合国决议后下滑。关于气候变化影响的报告。埃克森美孚在盘前交易中下跌1.3%，雪佛龙下跌1.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/VSCO\">Victoria's Secret &amp; Co</a> – JPMorgan Chase initiated coverage on the women’s apparel retailer with an “overweight” rating, noting its dominant market position in lingerie and nightwear and expansion opportunities in swimwear. Victoria’s Secret added 1.6% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/VSCO\">维多利亚的秘密公司</a>-摩根大通首次对这家女装零售商给予“跑赢大盘”评级，指出其在内衣和睡衣领域的主导市场地位以及在泳装领域的扩张机会。维多利亚的秘密(Victoria's Secret)盘前上涨1.6%。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/NTES\">NetEase</a> – The China-based online services company surged 2.3% in premarket trading, following a Reuters report that it has delayed a planned $1 billion Hong Kong initial public offering of its Cloud Village music streaming service. People with direct knowledge of the matter said the delay was due to volatile trading in China’s major tech companies.</p><p><blockquote><a href=\"https://laohu8.com/S/NTES\">网易</a>–这家总部位于中国的在线服务公司在盘前交易中飙升2.3%，此前路透社报道称，该公司推迟了其Cloud Village音乐流媒体服务计划10亿美元的香港首次公开募股。直接了解此事的人士表示，推迟是由于中国主要科技公司的交易波动。</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 Monday<blockquote>周一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; 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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\">\nToplines Before US Market Open on Monday<blockquote>周一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\">2021-08-09 20:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P and the Dow index futures fell from record highs on Monday with oil stocks reeling from a more than 4% slump in crude prices on concerns over rising COVID-19 cases in Asia.</p><p><blockquote>标准普尔指数和道琼斯指数期货周一从历史高点下跌，由于担心亚洲COVID-19病例不断增加，原油价格暴跌超过4%，石油股受到影响。</blockquote></p><p> At 8:05 a.m. ET, Dow E-minis were down 90 points, or 0.26%, S&amp;P 500 E-minis were down 5.5 points, or 0.12% and Nasdaq 100 E-minis were up 20 points, or 0.13%.</p><p><blockquote>截至美国东部时间上午8:05，道指E-mini下跌90点，即0.26%，标普500 E-mini下跌5.5点，即0.12%，纳斯达克100 E-mini上涨20点，即0.13%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/93b96fe26422f6fb5d7d4df86a535553\" tg-width=\"668\" tg-height=\"251\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:05</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源自Tiger Trade，美国东部时间08:05</span></p></blockquote></p><p> A stellar earnings season has seen U.S. stocks surge to record highs over the past two weeks, as several consensus-beating results from major firms reinforced faith in a post-COVID economic recovery this year.</p><p><blockquote>过去两周，美国股市在一个出色的财报季飙升至历史新高，主要公司的几项超出共识的业绩增强了人们对今年疫情后经济复苏的信心。</blockquote></p><p> Analysts expect second-quarter profit growth of 92.9% for S&amp;P 500 companies, according to IBES data from Refinitiv. Of the 427 companies in the index that have reported earnings so far, 87.6% beat analyst expectations, the highest on record.</p><p><blockquote>根据Refinitiv的IBES数据，分析师预计标普500公司第二季度利润将增长92.9%。在该指数迄今已公布财报的427家公司中，87.6%的公司超出分析师预期，为有记录以来的最高水平。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <a href=\"https://laohu8.com/S/SAFM\">Sanderson Farms</a> – The poultry producer agreed to be acquired for about $4.5 billion, or $203 per share, by privately-held food producer Cargill and agriculture investment firm Continental Grain. The all-cash deal represents an 11.3% premium over Friday’s closing price for Sanderson Farms. Sanderson shares surged 8.3% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/SAFM\">桑德森农场</a>-这家家禽生产商同意被私营食品生产商嘉吉和农业投资公司Continental Grain以约45亿美元（即每股203美元）的价格收购。这笔全现金交易较桑德森农场周五收盘价溢价11.3%。桑德森股价盘前飙升8.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> – Tesla gained 1.6% in the premarket after Jefferies upgraded the stock to “buy” from “hold,” based on what the firm feels is more efficient capital deployment and an improved ability by auto manufacturers to increase profit margins over time.</p><p><blockquote><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>-杰富瑞(Jefferies)将特斯拉股票评级从“持有”上调至“买入”，原因是该公司认为资本配置效率更高，以及汽车制造商随着时间的推移提高利润率的能力有所提高，该公司盘前股价上涨1.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/USFD\">US Foods Holding Corp</a> – The foodservice distributor’s shares rallied 6.5% in the premarket after beating Street forecasts with its second-quarter profit and revenue. U.S. Foods earned 58 cents per share, 22 cents a share above estimates, helped by strong demand for its products and services as the industry recovers from the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/USFD\">美国食品控股公司</a>-这家餐饮服务分销商第二季度利润和收入超出华尔街预期后，其股价在盘前上涨6.5%。美国食品公司每股盈利58美分，比预期高出22美分，这得益于该行业从疫情中复苏，对其产品和服务的强劲需求。</blockquote></p><p> <a href=\"https://laohu8.com/S/TSN\">Tyson</a> – The beef and poultry producer reported quarterly earnings of $2.70 per share, well above the consensus estimate of $1.62 a share. Revenue also came in above analysts’ projections. Results got a boost from strong consumer demand as well as restaurant reopenings. Tyson shares rose 2.6% in premarket trading.ovid</p><p><blockquote><a href=\"https://laohu8.com/S/TSN\">泰森</a>-这家牛肉和家禽生产商报告季度收益为每股2.70美元，远高于每股1.62美元的普遍预期。收入也高于分析师的预测。强劲的消费者需求以及餐厅重新开业提振了业绩。泰森食品股价在盘前交易中上涨2.6%。ovid</blockquote></p><p> <a href=\"https://laohu8.com/S/NCLH\">Norwegian Cruise Line</a> – A federal judge ruled that the cruise linecan ask passengers for proof of Covid-19 vaccination, temporarily blocking a Florida law banning that practice.</p><p><blockquote><a href=\"https://laohu8.com/S/NCLH\">挪威邮轮公司</a>–一名联邦法官裁定，邮轮公司可以要求乘客提供Covid-19疫苗接种证明，暂时阻止了佛罗里达州禁止这种做法的法律。</blockquote></p><p> <a href=\"https://laohu8.com/S/BRK.B\">Berkshire Hathaway</a> – Berkshire shares rose 1.2% in premarket tradingafter it reported a 7% increasein second-quarter earnings. Berkshire’s results were helped by a rebound across its businesses including its railroad and energy companies.</p><p><blockquote><a href=\"https://laohu8.com/S/BRK.B\">伯克希尔哈撒韦</a>-伯克希尔股价在盘前交易中上涨1.2%，此前该公司公布第二季度盈利增长7%。伯克希尔的业绩得益于其铁路和能源公司等业务的反弹。</blockquote></p><p> <a href=\"https://laohu8.com/S/VNE\">Veoneer, Inc.</a> – The auto parts maker said it would begin talks withQualcomm(QCOM) about the chip maker’s takeover bid, which topped a bid from automotive software makerMagna International(MGA) that had been previously approved by Veoneer’s board. Qualcomm’s bid is worth $4.6 billion, compared to the approximately $3.8 billion value of Magna’s deal. Veoneer slid 3.3% in premarket trading.</p><p><blockquote><a href=\"https://laohu8.com/S/VNE\">维尼尔公司。</a>–这家汽车零部件制造商表示，将开始与高通(QCOM)就该芯片制造商的收购要约进行谈判，该收购要约高于汽车软件制造商麦格纳国际(MGA)此前已获得Veoneer董事会批准的收购要约。高通的出价价值46亿美元，而麦格纳的交易价值约为38亿美元。Veoneer在盘前交易中下跌3.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/EXAS\">Exact Sciences</a> – The molecular diagnostics company has approached genetic testing firmInvitae(NVTA) about a possible merger, according to people familiar with the matter who spoke to Bloomberg. The people said the two sides are not in active talks and that a seal would likely be a low-premium, all-stock transaction. Invitae surged 7.2% in the premarket while Exact Sciences fell 2%.</p><p><blockquote><a href=\"https://laohu8.com/S/EXAS\">精确科学</a>–据接受彭博社采访的知情人士透露，这家分子诊断公司已就可能的合并事宜与基因检测公司MinVitae(NVTA)接洽。知情人士表示，双方并未进行积极谈判，seal可能是一项低溢价、全股票交易。Invitae盘前飙升7.2%，而Exact Sciences下跌2%。</blockquote></p><p> <a href=\"https://laohu8.com/S/DLTR\">Dollar Tree</a> – The discount retailer was downgraded to “hold” from “buy” at Deutsche Bank, which expressed concerns about the impact of increased freight and labor costs on profit margins. Dollar Tree lost 1.5% in premarket action.</p><p><blockquote><a href=\"https://laohu8.com/S/DLTR\">美元树</a>-德意志银行将这家折扣零售商的评级从“买入”下调至“持有”，该行对运费和劳动力成本增加对利润率的影响表示担忧。Dollar Tree在盘前下跌1.5%。</blockquote></p><p> <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a> ,<a href=\"https://laohu8.com/S/CVX\">Chevron</a> – These and other energy companies are under pressure as&nbsp;oil prices slide&nbsp;following &nbsp;a&nbsp;U.N. report on the impact of climate change. Exxon fell 1.3% in premarket trading, while Chevron was down 1.6%.</p><p><blockquote><a href=\"https://laohu8.com/S/XOM\">埃克森美孚</a>,<a href=\"https://laohu8.com/S/CVX\">雪佛龙</a>——这些公司和其他能源公司正面临压力，因为油价在联合国决议后下滑。关于气候变化影响的报告。埃克森美孚在盘前交易中下跌1.3%，雪佛龙下跌1.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/VSCO\">Victoria's Secret &amp; Co</a> – JPMorgan Chase initiated coverage on the women’s apparel retailer with an “overweight” rating, noting its dominant market position in lingerie and nightwear and expansion opportunities in swimwear. Victoria’s Secret added 1.6% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/VSCO\">维多利亚的秘密公司</a>-摩根大通首次对这家女装零售商给予“跑赢大盘”评级，指出其在内衣和睡衣领域的主导市场地位以及在泳装领域的扩张机会。维多利亚的秘密(Victoria's Secret)盘前上涨1.6%。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/NTES\">NetEase</a> – The China-based online services company surged 2.3% in premarket trading, following a Reuters report that it has delayed a planned $1 billion Hong Kong initial public offering of its Cloud Village music streaming service. People with direct knowledge of the matter said the delay was due to volatile trading in China’s major tech companies.</p><p><blockquote><a href=\"https://laohu8.com/S/NTES\">网易</a>–这家总部位于中国的在线服务公司在盘前交易中飙升2.3%，此前路透社报道称，该公司推迟了其Cloud Village音乐流媒体服务计划10亿美元的香港首次公开募股。直接了解此事的人士表示，推迟是由于中国主要科技公司的交易波动。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182740672","content_text":"The S&P and the Dow index futures fell from record highs on Monday with oil stocks reeling from a more than 4% slump in crude prices on concerns over rising COVID-19 cases in Asia.\nAt 8:05 a.m. ET, Dow E-minis were down 90 points, or 0.26%, S&P 500 E-minis were down 5.5 points, or 0.12% and Nasdaq 100 E-minis were up 20 points, or 0.13%.\n*Source From Tiger Trade, EST 08:05\nA stellar earnings season has seen U.S. stocks surge to record highs over the past two weeks, as several consensus-beating results from major firms reinforced faith in a post-COVID economic recovery this year.\nAnalysts expect second-quarter profit growth of 92.9% for S&P 500 companies, according to IBES data from Refinitiv. Of the 427 companies in the index that have reported earnings so far, 87.6% beat analyst expectations, the highest on record.\nStocks making the biggest moves in the premarket:\nSanderson Farms – The poultry producer agreed to be acquired for about $4.5 billion, or $203 per share, by privately-held food producer Cargill and agriculture investment firm Continental Grain. The all-cash deal represents an 11.3% premium over Friday’s closing price for Sanderson Farms. Sanderson shares surged 8.3% in the premarket.\nTesla Motors – Tesla gained 1.6% in the premarket after Jefferies upgraded the stock to “buy” from “hold,” based on what the firm feels is more efficient capital deployment and an improved ability by auto manufacturers to increase profit margins over time.\nUS Foods Holding Corp – The foodservice distributor’s shares rallied 6.5% in the premarket after beating Street forecasts with its second-quarter profit and revenue. U.S. Foods earned 58 cents per share, 22 cents a share above estimates, helped by strong demand for its products and services as the industry recovers from the pandemic.\nTyson – The beef and poultry producer reported quarterly earnings of $2.70 per share, well above the consensus estimate of $1.62 a share. Revenue also came in above analysts’ projections. Results got a boost from strong consumer demand as well as restaurant reopenings. Tyson shares rose 2.6% in premarket trading.ovid\nNorwegian Cruise Line – A federal judge ruled that the cruise linecan ask passengers for proof of Covid-19 vaccination, temporarily blocking a Florida law banning that practice.\nBerkshire Hathaway – Berkshire shares rose 1.2% in premarket tradingafter it reported a 7% increasein second-quarter earnings. Berkshire’s results were helped by a rebound across its businesses including its railroad and energy companies.\nVeoneer, Inc. – The auto parts maker said it would begin talks withQualcomm(QCOM) about the chip maker’s takeover bid, which topped a bid from automotive software makerMagna International(MGA) that had been previously approved by Veoneer’s board. Qualcomm’s bid is worth $4.6 billion, compared to the approximately $3.8 billion value of Magna’s deal. Veoneer slid 3.3% in premarket trading.\nExact Sciences – The molecular diagnostics company has approached genetic testing firmInvitae(NVTA) about a possible merger, according to people familiar with the matter who spoke to Bloomberg. The people said the two sides are not in active talks and that a seal would likely be a low-premium, all-stock transaction. Invitae surged 7.2% in the premarket while Exact Sciences fell 2%.\nDollar Tree – The discount retailer was downgraded to “hold” from “buy” at Deutsche Bank, which expressed concerns about the impact of increased freight and labor costs on profit margins. Dollar Tree lost 1.5% in premarket action.\nExxon Mobil ,Chevron – These and other energy companies are under pressure as oil prices slide following  a U.N. report on the impact of climate change. Exxon fell 1.3% in premarket trading, while Chevron was down 1.6%.\nVictoria's Secret & Co – JPMorgan Chase initiated coverage on the women’s apparel retailer with an “overweight” rating, noting its dominant market position in lingerie and nightwear and expansion opportunities in swimwear. Victoria’s Secret added 1.6% in the premarket.\nNetEase – The China-based online services company surged 2.3% in premarket trading, following a Reuters report that it has delayed a planned $1 billion Hong Kong initial public offering of its Cloud Village music streaming service. People with direct knowledge of the matter said the delay was due to volatile trading in China’s major tech companies.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1604,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890004173,"gmtCreate":1628064376492,"gmtModify":1633753924480,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Good move&nbsp;","listText":"Good move&nbsp;","text":"Good move","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890004173","repostId":"1162890450","repostType":4,"isVote":1,"tweetType":1,"viewCount":2609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890005799,"gmtCreate":1628064354011,"gmtModify":1633753924724,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"&nbsp;Wow&nbsp;Like bros&nbsp;","listText":"&nbsp;Wow&nbsp;Like bros&nbsp;","text":"Wow Like bros","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890005799","repostId":"1171220910","repostType":4,"isVote":1,"tweetType":1,"viewCount":1884,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890005660,"gmtCreate":1628064325950,"gmtModify":1633753925050,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Like brothers&nbsp;","listText":"Like brothers&nbsp;","text":"Like brothers","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890005660","repostId":"1135713978","repostType":4,"repost":{"id":"1135713978","kind":"news","pubTimestamp":1628056812,"share":"https://www.laohu8.com/m/news/1135713978?lang=zh_CN&edition=full","pubTime":"2021-08-04 14:00","market":"us","language":"en","title":"Alphabet wants to make its own smartphone chips — what in the world is the company thinking?<blockquote>Alphabet想要制造自己的智能手机芯片——该公司到底在想什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135713978","media":"MarketWatch","summary":"It’s a big, and risky, bet. Apple did something similar and had a difficult transition\n(Photo credit","content":"<p>It’s a big, and risky, bet. Apple did something similar and had a difficult transition</p><p><blockquote>这是一个巨大而冒险的赌注。苹果也做了类似的事情，经历了艰难的转变</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/729798ae4b174d85419678e03af11d00\" tg-width=\"1050\" tg-height=\"699\" width=\"100%\" height=\"auto\"><span>(Photo credit should read Alain Jocard/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片来源应为Alain Jocard/法新社，盖蒂图片社）</span></p></blockquote></p><p> Alphabet said Monday it will take its silicon building in-house when it launches a new flagship line of Google Pixel phones.</p><p><blockquote>Alphabet周一表示，在推出新的谷歌Pixel手机旗舰系列时，将在内部生产硅产品。</blockquote></p><p> The company’s move creates as many questions as it does answers. Perhaps the first being,with only about 2% of the U.S. smartphone market&nbsp;and no real sign of that changing, does a bet like this make sense?</p><p><blockquote>该公司的举动带来的问题和答案一样多。也许第一个是，美国智能手机市场仅占2%左右，而且没有真正的变化迹象，这样的赌注有意义吗？</blockquote></p><p> While much of the analysis of this news pointed to it as a positive step for AlphabetGOOG,+0.21%,I interpreted it as a desperate attempt for the company to make headlines about its poor-performing line of mobile devices and to do so by taking a risk that even AppleAAPL,+1.26%isn’t yet willing to take when it comes to its vertical integration into semiconductors.</p><p><blockquote>虽然这条新闻的大部分分析都指出这对AlphabetGOOG(+0.21%)来说是积极的一步，但我将其解读为该公司孤注一掷地试图让其表现不佳的移动设备系列成为头条新闻，并通过这样做来实现这一目标。即使是AppleAAPL(+1.26%)在垂直整合半导体方面也不愿意承担风险。</blockquote></p><p> <b>Apple’s foreshadowing</b></p><p><blockquote><b>苹果的铺垫</b></blockquote></p><p> Apple made headlines over the past few years with its departure from Intel&nbsp;and the introduction of its M1 architecture. This transition from Intel to homegrown processors built on the increasingly popular Arm architecture was done methodically over several years to ensure that the change would go smoothly. For the most part, the M1 launched without significant incident, but its critics would be the first to point out that the transition was anything but flawless.</p><p><blockquote>过去几年，苹果因脱离英特尔并引入M1架构而成为头条新闻。从英特尔到基于日益流行的Arm架构的国产处理器的过渡是有条不紊地进行的，以确保变革顺利进行。在很大程度上，M1的发射没有发生重大事件，但它的批评者会第一个指出这种转变绝非完美无缺。</blockquote></p><p> It’s also worth pointing out that Apple, while it has incorporated a number of its cores to handle capabilities like image sensing and graphics, has left the modem and radio, oft-referred to as RFFE, to Qualcomm,due to the complexity of building a modem-RF system for 5G, which is incredibly complicated and proper function is imperative to get devices certified by different carriers like Verizon,AT&amp;T,T-Mobile&nbsp;and others.</p><p><blockquote>还值得指出的是，苹果虽然整合了许多核心来处理图像传感和图形等功能，但由于构建5G调制解调器RF系统的复杂性，它将调制解调器和无线电（通常称为RFFE）留给了高通，这非常复杂，并且必须让设备获得威瑞森、美国电话电报公司、T-Mobile等不同运营商的认证。</blockquote></p><p> For some reason that I simply cannot understand, Alphabet wants to abandon not only the Qualcomm Snapdragon, which most simply can be considered the full set of systems to power all the phones features, and ditch it for its own set of cores, but allegedly also abandon Qualcomm’s proven modem-RF system to use (rumored) Samsung’s Exynos, which has almost zero market penetration and has run into issues with power management and carrier certification. Even Samsung uses Qualcomm’s modem-RF system for large portions of its flagship devices, including its U.S. flagship devices. Apple does as well.</p><p><blockquote>出于某种我根本无法理解的原因，Alphabet不仅想放弃高通骁龙，这最简单地可以被认为是为所有手机功能提供动力的全套系统，并放弃它为自己的一套核心，而且据称还想放弃高通经过验证的调制解调器射频系统，使用（据传）三星的Exynos，后者的市场渗透率几乎为零，并在电源管理和运营商认证方面遇到了问题。甚至三星也在其大部分旗舰设备中使用高通的调制解调器-RF系统，包括其美国旗舰设备。苹果也是。</blockquote></p><p> Returning us to the question: What in the world is Alphabet doing here, and does it make any sense?</p><p><blockquote>让我们回到这个问题：Alphabet到底在这里做什么，这有意义吗？</blockquote></p><p> <b>Vertical integration</b></p><p><blockquote><b>纵向一体化</b></blockquote></p><p> The short answer is yes, and no, but mostly no. At least for Alphabet.</p><p><blockquote>简短的回答是肯定的，也是否定的，但大多数情况下是否定的。至少对Alphabet来说是这样。</blockquote></p><p> The argument to favor this change comes down to profitability and control for Alphabet. Apple has proven that deeper vertical integration can be lucrative, and its Bionic chips have continued to improve with each generation. Alphabet, which has built a very limited set of custom ASICs (application specific integrated circuits) for artificial intelligence (AI), wants the market to see it as every bit as capable of this type of move as Apple.</p><p><blockquote>支持这一变化的论点可以归结为Alphabet的盈利能力和控制权。苹果已经证明，更深入的垂直整合可以带来利润，其仿生芯片每一代都在不断改进。Alphabet为人工智能(AI)构建了一套非常有限的定制ASIC（专用集成电路），希望市场看到它与苹果一样有能力采取此类举措。</blockquote></p><p> Furthermore, we have seen Amazon’s&nbsp;AWS and Alibaba&nbsp;build Arm-based solutions for their cloud offerings, and Microsoft&nbsp;has also been touted to be following suit. For the data center, this seems to make sense, with AWS, for instance, seeing success from its Graviton line of CPUs and Trainium series of ML chips. No one would be surprised to see Alphabet significantly increase its efforts to launch or further enhance custom silicon development for its cloud and AI offerings. But servers, and even notebooks, aren’t mobile devices.</p><p><blockquote>此外，我们已经看到Amazon的AWS和阿里巴巴-SW为其云产品构建基于Arm的解决方案，微软也被吹捧为效仿。对于数据中心来说，这似乎是有意义的，例如，AWS从其Graviton系列CPU和Trainium系列ML芯片中看到了成功。如果Alphabet大幅加大力度推出或进一步增强其云和人工智能产品的定制芯片开发，没有人会感到惊讶。但是服务器，甚至笔记本电脑，都不是移动设备。</blockquote></p><p> To launch the M1, Apple spent years on R&amp;D and made several key acquisitions, including Dialog Semiconductor in 2018 for $600 million to add to its internal chipmaking and systems capabilities. It even acquired the remnants of Intel’s mobile modem business upon deciding to move away from Intel on the horizon of 5G. But, with all of that IP, and investment in tow, and even a multi-year legal feud with Qualcomm, Apple still recognized there were some things better left to be done by Qualcomm.</p><p><blockquote>为了推出M1，苹果花了数年时间进行研发，并进行了多项关键收购，包括2018年斥资6亿美元收购Dialog Semiconductor，以增强其内部芯片制造和系统能力。在5G时代决定离开英特尔后，它甚至收购了英特尔移动调制解调器业务的残余。但是，尽管拥有所有这些知识产权、对tow的投资，甚至与高通多年的法律纠纷，苹果仍然认识到有些事情需要高通去做。</blockquote></p><p> Perhaps Alphabet figures with almost no market share and no notoriety around its Pixel smartphone lineup that it doesn’t matter if the Pixel 6 series is a disaster.</p><p><blockquote>也许Alphabet认为，其Pixel智能手机系列几乎没有市场份额，也没有恶名，Pixel 6系列是否是一场灾难并不重要。</blockquote></p><p> And perhaps Google will surprise the world by using its cores plus a lesser-quality modem-RF system to somehow put out a device that will outperform Apple, Samsung and dozens of other handset makers that have entrusted Qualcomm to provide the guts of their devices.</p><p><blockquote>也许谷歌会让世界大吃一惊，它会使用其核心加上质量较差的调制解调器射频系统，以某种方式推出一款设备，其性能将超过苹果、三星和其他数十家委托高通提供其设备核心的手机制造商。</blockquote></p><p> I doubt it, though, and if nearly a decade of insignificant market penetration with their mobile devices serves as an indicator of how well this move will go for Alphabet, I think it’s safe to chalk this up in the L column.</p><p><blockquote>不过，我对此表示怀疑，如果近十年来移动设备微不足道的市场渗透率可以作为Alphabet此举进展如何的指标，我认为可以安全地将其记在L栏中。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alphabet wants to make its own smartphone chips — what in the world is the company thinking?<blockquote>Alphabet想要制造自己的智能手机芯片——该公司到底在想什么？</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\">\nAlphabet wants to make its own smartphone chips — what in the world is the company thinking?<blockquote>Alphabet想要制造自己的智能手机芯片——该公司到底在想什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-04 14:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It’s a big, and risky, bet. Apple did something similar and had a difficult transition</p><p><blockquote>这是一个巨大而冒险的赌注。苹果也做了类似的事情，经历了艰难的转变</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/729798ae4b174d85419678e03af11d00\" tg-width=\"1050\" tg-height=\"699\" width=\"100%\" height=\"auto\"><span>(Photo credit should read Alain Jocard/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片来源应为Alain Jocard/法新社，盖蒂图片社）</span></p></blockquote></p><p> Alphabet said Monday it will take its silicon building in-house when it launches a new flagship line of Google Pixel phones.</p><p><blockquote>Alphabet周一表示，在推出新的谷歌Pixel手机旗舰系列时，将在内部生产硅产品。</blockquote></p><p> The company’s move creates as many questions as it does answers. Perhaps the first being,with only about 2% of the U.S. smartphone market&nbsp;and no real sign of that changing, does a bet like this make sense?</p><p><blockquote>该公司的举动带来的问题和答案一样多。也许第一个是，美国智能手机市场仅占2%左右，而且没有真正的变化迹象，这样的赌注有意义吗？</blockquote></p><p> While much of the analysis of this news pointed to it as a positive step for AlphabetGOOG,+0.21%,I interpreted it as a desperate attempt for the company to make headlines about its poor-performing line of mobile devices and to do so by taking a risk that even AppleAAPL,+1.26%isn’t yet willing to take when it comes to its vertical integration into semiconductors.</p><p><blockquote>虽然这条新闻的大部分分析都指出这对AlphabetGOOG(+0.21%)来说是积极的一步，但我将其解读为该公司孤注一掷地试图让其表现不佳的移动设备系列成为头条新闻，并通过这样做来实现这一目标。即使是AppleAAPL(+1.26%)在垂直整合半导体方面也不愿意承担风险。</blockquote></p><p> <b>Apple’s foreshadowing</b></p><p><blockquote><b>苹果的铺垫</b></blockquote></p><p> Apple made headlines over the past few years with its departure from Intel&nbsp;and the introduction of its M1 architecture. This transition from Intel to homegrown processors built on the increasingly popular Arm architecture was done methodically over several years to ensure that the change would go smoothly. For the most part, the M1 launched without significant incident, but its critics would be the first to point out that the transition was anything but flawless.</p><p><blockquote>过去几年，苹果因脱离英特尔并引入M1架构而成为头条新闻。从英特尔到基于日益流行的Arm架构的国产处理器的过渡是有条不紊地进行的，以确保变革顺利进行。在很大程度上，M1的发射没有发生重大事件，但它的批评者会第一个指出这种转变绝非完美无缺。</blockquote></p><p> It’s also worth pointing out that Apple, while it has incorporated a number of its cores to handle capabilities like image sensing and graphics, has left the modem and radio, oft-referred to as RFFE, to Qualcomm,due to the complexity of building a modem-RF system for 5G, which is incredibly complicated and proper function is imperative to get devices certified by different carriers like Verizon,AT&amp;T,T-Mobile&nbsp;and others.</p><p><blockquote>还值得指出的是，苹果虽然整合了许多核心来处理图像传感和图形等功能，但由于构建5G调制解调器RF系统的复杂性，它将调制解调器和无线电（通常称为RFFE）留给了高通，这非常复杂，并且必须让设备获得威瑞森、美国电话电报公司、T-Mobile等不同运营商的认证。</blockquote></p><p> For some reason that I simply cannot understand, Alphabet wants to abandon not only the Qualcomm Snapdragon, which most simply can be considered the full set of systems to power all the phones features, and ditch it for its own set of cores, but allegedly also abandon Qualcomm’s proven modem-RF system to use (rumored) Samsung’s Exynos, which has almost zero market penetration and has run into issues with power management and carrier certification. Even Samsung uses Qualcomm’s modem-RF system for large portions of its flagship devices, including its U.S. flagship devices. Apple does as well.</p><p><blockquote>出于某种我根本无法理解的原因，Alphabet不仅想放弃高通骁龙，这最简单地可以被认为是为所有手机功能提供动力的全套系统，并放弃它为自己的一套核心，而且据称还想放弃高通经过验证的调制解调器射频系统，使用（据传）三星的Exynos，后者的市场渗透率几乎为零，并在电源管理和运营商认证方面遇到了问题。甚至三星也在其大部分旗舰设备中使用高通的调制解调器-RF系统，包括其美国旗舰设备。苹果也是。</blockquote></p><p> Returning us to the question: What in the world is Alphabet doing here, and does it make any sense?</p><p><blockquote>让我们回到这个问题：Alphabet到底在这里做什么，这有意义吗？</blockquote></p><p> <b>Vertical integration</b></p><p><blockquote><b>纵向一体化</b></blockquote></p><p> The short answer is yes, and no, but mostly no. At least for Alphabet.</p><p><blockquote>简短的回答是肯定的，也是否定的，但大多数情况下是否定的。至少对Alphabet来说是这样。</blockquote></p><p> The argument to favor this change comes down to profitability and control for Alphabet. Apple has proven that deeper vertical integration can be lucrative, and its Bionic chips have continued to improve with each generation. Alphabet, which has built a very limited set of custom ASICs (application specific integrated circuits) for artificial intelligence (AI), wants the market to see it as every bit as capable of this type of move as Apple.</p><p><blockquote>支持这一变化的论点可以归结为Alphabet的盈利能力和控制权。苹果已经证明，更深入的垂直整合可以带来利润，其仿生芯片每一代都在不断改进。Alphabet为人工智能(AI)构建了一套非常有限的定制ASIC（专用集成电路），希望市场看到它与苹果一样有能力采取此类举措。</blockquote></p><p> Furthermore, we have seen Amazon’s&nbsp;AWS and Alibaba&nbsp;build Arm-based solutions for their cloud offerings, and Microsoft&nbsp;has also been touted to be following suit. For the data center, this seems to make sense, with AWS, for instance, seeing success from its Graviton line of CPUs and Trainium series of ML chips. No one would be surprised to see Alphabet significantly increase its efforts to launch or further enhance custom silicon development for its cloud and AI offerings. But servers, and even notebooks, aren’t mobile devices.</p><p><blockquote>此外，我们已经看到Amazon的AWS和阿里巴巴-SW为其云产品构建基于Arm的解决方案，微软也被吹捧为效仿。对于数据中心来说，这似乎是有意义的，例如，AWS从其Graviton系列CPU和Trainium系列ML芯片中看到了成功。如果Alphabet大幅加大力度推出或进一步增强其云和人工智能产品的定制芯片开发，没有人会感到惊讶。但是服务器，甚至笔记本电脑，都不是移动设备。</blockquote></p><p> To launch the M1, Apple spent years on R&amp;D and made several key acquisitions, including Dialog Semiconductor in 2018 for $600 million to add to its internal chipmaking and systems capabilities. It even acquired the remnants of Intel’s mobile modem business upon deciding to move away from Intel on the horizon of 5G. But, with all of that IP, and investment in tow, and even a multi-year legal feud with Qualcomm, Apple still recognized there were some things better left to be done by Qualcomm.</p><p><blockquote>为了推出M1，苹果花了数年时间进行研发，并进行了多项关键收购，包括2018年斥资6亿美元收购Dialog Semiconductor，以增强其内部芯片制造和系统能力。在5G时代决定离开英特尔后，它甚至收购了英特尔移动调制解调器业务的残余。但是，尽管拥有所有这些知识产权、对tow的投资，甚至与高通多年的法律纠纷，苹果仍然认识到有些事情需要高通去做。</blockquote></p><p> Perhaps Alphabet figures with almost no market share and no notoriety around its Pixel smartphone lineup that it doesn’t matter if the Pixel 6 series is a disaster.</p><p><blockquote>也许Alphabet认为，其Pixel智能手机系列几乎没有市场份额，也没有恶名，Pixel 6系列是否是一场灾难并不重要。</blockquote></p><p> And perhaps Google will surprise the world by using its cores plus a lesser-quality modem-RF system to somehow put out a device that will outperform Apple, Samsung and dozens of other handset makers that have entrusted Qualcomm to provide the guts of their devices.</p><p><blockquote>也许谷歌会让世界大吃一惊，它会使用其核心加上质量较差的调制解调器射频系统，以某种方式推出一款设备，其性能将超过苹果、三星和其他数十家委托高通提供其设备核心的手机制造商。</blockquote></p><p> I doubt it, though, and if nearly a decade of insignificant market penetration with their mobile devices serves as an indicator of how well this move will go for Alphabet, I think it’s safe to chalk this up in the L column.</p><p><blockquote>不过，我对此表示怀疑，如果近十年来移动设备微不足道的市场渗透率可以作为Alphabet此举进展如何的指标，我认为可以安全地将其记在L栏中。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/alphabet-wants-to-make-its-own-smartphone-chips-what-in-the-world-is-the-company-thinking-11628003771?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A"},"source_url":"https://www.marketwatch.com/story/alphabet-wants-to-make-its-own-smartphone-chips-what-in-the-world-is-the-company-thinking-11628003771?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135713978","content_text":"It’s a big, and risky, bet. Apple did something similar and had a difficult transition\n(Photo credit should read Alain Jocard/AFP via Getty Images)\nAlphabet said Monday it will take its silicon building in-house when it launches a new flagship line of Google Pixel phones.\nThe company’s move creates as many questions as it does answers. Perhaps the first being,with only about 2% of the U.S. smartphone market and no real sign of that changing, does a bet like this make sense?\nWhile much of the analysis of this news pointed to it as a positive step for AlphabetGOOG,+0.21%,I interpreted it as a desperate attempt for the company to make headlines about its poor-performing line of mobile devices and to do so by taking a risk that even AppleAAPL,+1.26%isn’t yet willing to take when it comes to its vertical integration into semiconductors.\nApple’s foreshadowing\nApple made headlines over the past few years with its departure from Intel and the introduction of its M1 architecture. This transition from Intel to homegrown processors built on the increasingly popular Arm architecture was done methodically over several years to ensure that the change would go smoothly. For the most part, the M1 launched without significant incident, but its critics would be the first to point out that the transition was anything but flawless.\nIt’s also worth pointing out that Apple, while it has incorporated a number of its cores to handle capabilities like image sensing and graphics, has left the modem and radio, oft-referred to as RFFE, to Qualcomm,due to the complexity of building a modem-RF system for 5G, which is incredibly complicated and proper function is imperative to get devices certified by different carriers like Verizon,AT&T,T-Mobile and others.\nFor some reason that I simply cannot understand, Alphabet wants to abandon not only the Qualcomm Snapdragon, which most simply can be considered the full set of systems to power all the phones features, and ditch it for its own set of cores, but allegedly also abandon Qualcomm’s proven modem-RF system to use (rumored) Samsung’s Exynos, which has almost zero market penetration and has run into issues with power management and carrier certification. Even Samsung uses Qualcomm’s modem-RF system for large portions of its flagship devices, including its U.S. flagship devices. Apple does as well.\nReturning us to the question: What in the world is Alphabet doing here, and does it make any sense?\nVertical integration\nThe short answer is yes, and no, but mostly no. At least for Alphabet.\nThe argument to favor this change comes down to profitability and control for Alphabet. Apple has proven that deeper vertical integration can be lucrative, and its Bionic chips have continued to improve with each generation. Alphabet, which has built a very limited set of custom ASICs (application specific integrated circuits) for artificial intelligence (AI), wants the market to see it as every bit as capable of this type of move as Apple.\nFurthermore, we have seen Amazon’s AWS and Alibaba build Arm-based solutions for their cloud offerings, and Microsoft has also been touted to be following suit. For the data center, this seems to make sense, with AWS, for instance, seeing success from its Graviton line of CPUs and Trainium series of ML chips. No one would be surprised to see Alphabet significantly increase its efforts to launch or further enhance custom silicon development for its cloud and AI offerings. But servers, and even notebooks, aren’t mobile devices.\nTo launch the M1, Apple spent years on R&D and made several key acquisitions, including Dialog Semiconductor in 2018 for $600 million to add to its internal chipmaking and systems capabilities. It even acquired the remnants of Intel’s mobile modem business upon deciding to move away from Intel on the horizon of 5G. But, with all of that IP, and investment in tow, and even a multi-year legal feud with Qualcomm, Apple still recognized there were some things better left to be done by Qualcomm.\nPerhaps Alphabet figures with almost no market share and no notoriety around its Pixel smartphone lineup that it doesn’t matter if the Pixel 6 series is a disaster.\nAnd perhaps Google will surprise the world by using its cores plus a lesser-quality modem-RF system to somehow put out a device that will outperform Apple, Samsung and dozens of other handset makers that have entrusted Qualcomm to provide the guts of their devices.\nI doubt it, though, and if nearly a decade of insignificant market penetration with their mobile devices serves as an indicator of how well this move will go for Alphabet, I think it’s safe to chalk this up in the L column.","news_type":1,"symbols_score_info":{"GOOGL":0.9,"GOOG":0.9}},"isVote":1,"tweetType":1,"viewCount":1701,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890005114,"gmtCreate":1628064311738,"gmtModify":1633753925171,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Wow this is big step&nbsp;","listText":"Wow this is big step&nbsp;","text":"Wow this is big step","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890005114","repostId":"1135713978","repostType":4,"repost":{"id":"1135713978","kind":"news","pubTimestamp":1628056812,"share":"https://www.laohu8.com/m/news/1135713978?lang=zh_CN&edition=full","pubTime":"2021-08-04 14:00","market":"us","language":"en","title":"Alphabet wants to make its own smartphone chips — what in the world is the company thinking?<blockquote>Alphabet想要制造自己的智能手机芯片——该公司到底在想什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135713978","media":"MarketWatch","summary":"It’s a big, and risky, bet. Apple did something similar and had a difficult transition\n(Photo credit","content":"<p>It’s a big, and risky, bet. Apple did something similar and had a difficult transition</p><p><blockquote>这是一个巨大而冒险的赌注。苹果也做了类似的事情，经历了艰难的转变</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/729798ae4b174d85419678e03af11d00\" tg-width=\"1050\" tg-height=\"699\" width=\"100%\" height=\"auto\"><span>(Photo credit should read Alain Jocard/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片来源应为Alain Jocard/法新社，盖蒂图片社）</span></p></blockquote></p><p> Alphabet said Monday it will take its silicon building in-house when it launches a new flagship line of Google Pixel phones.</p><p><blockquote>Alphabet周一表示，在推出新的谷歌Pixel手机旗舰系列时，将在内部生产硅产品。</blockquote></p><p> The company’s move creates as many questions as it does answers. Perhaps the first being,with only about 2% of the U.S. smartphone market&nbsp;and no real sign of that changing, does a bet like this make sense?</p><p><blockquote>该公司的举动带来的问题和答案一样多。也许第一个是，美国智能手机市场仅占2%左右，而且没有真正的变化迹象，这样的赌注有意义吗？</blockquote></p><p> While much of the analysis of this news pointed to it as a positive step for AlphabetGOOG,+0.21%,I interpreted it as a desperate attempt for the company to make headlines about its poor-performing line of mobile devices and to do so by taking a risk that even AppleAAPL,+1.26%isn’t yet willing to take when it comes to its vertical integration into semiconductors.</p><p><blockquote>虽然这条新闻的大部分分析都指出这对AlphabetGOOG(+0.21%)来说是积极的一步，但我将其解读为该公司孤注一掷地试图让其表现不佳的移动设备系列成为头条新闻，并通过这样做来实现这一目标。即使是AppleAAPL(+1.26%)在垂直整合半导体方面也不愿意承担风险。</blockquote></p><p> <b>Apple’s foreshadowing</b></p><p><blockquote><b>苹果的铺垫</b></blockquote></p><p> Apple made headlines over the past few years with its departure from Intel&nbsp;and the introduction of its M1 architecture. This transition from Intel to homegrown processors built on the increasingly popular Arm architecture was done methodically over several years to ensure that the change would go smoothly. For the most part, the M1 launched without significant incident, but its critics would be the first to point out that the transition was anything but flawless.</p><p><blockquote>过去几年，苹果因脱离英特尔并引入M1架构而成为头条新闻。从英特尔到基于日益流行的Arm架构的国产处理器的过渡是有条不紊地进行的，以确保变革顺利进行。在很大程度上，M1的发射没有发生重大事件，但它的批评者会第一个指出这种转变绝非完美无缺。</blockquote></p><p> It’s also worth pointing out that Apple, while it has incorporated a number of its cores to handle capabilities like image sensing and graphics, has left the modem and radio, oft-referred to as RFFE, to Qualcomm,due to the complexity of building a modem-RF system for 5G, which is incredibly complicated and proper function is imperative to get devices certified by different carriers like Verizon,AT&amp;T,T-Mobile&nbsp;and others.</p><p><blockquote>还值得指出的是，苹果虽然整合了许多核心来处理图像传感和图形等功能，但由于构建5G调制解调器RF系统的复杂性，它将调制解调器和无线电（通常称为RFFE）留给了高通，这非常复杂，并且必须让设备获得威瑞森、美国电话电报公司、T-Mobile等不同运营商的认证。</blockquote></p><p> For some reason that I simply cannot understand, Alphabet wants to abandon not only the Qualcomm Snapdragon, which most simply can be considered the full set of systems to power all the phones features, and ditch it for its own set of cores, but allegedly also abandon Qualcomm’s proven modem-RF system to use (rumored) Samsung’s Exynos, which has almost zero market penetration and has run into issues with power management and carrier certification. Even Samsung uses Qualcomm’s modem-RF system for large portions of its flagship devices, including its U.S. flagship devices. Apple does as well.</p><p><blockquote>出于某种我根本无法理解的原因，Alphabet不仅想放弃高通骁龙，这最简单地可以被认为是为所有手机功能提供动力的全套系统，并放弃它为自己的一套核心，而且据称还想放弃高通经过验证的调制解调器射频系统，使用（据传）三星的Exynos，后者的市场渗透率几乎为零，并在电源管理和运营商认证方面遇到了问题。甚至三星也在其大部分旗舰设备中使用高通的调制解调器-RF系统，包括其美国旗舰设备。苹果也是。</blockquote></p><p> Returning us to the question: What in the world is Alphabet doing here, and does it make any sense?</p><p><blockquote>让我们回到这个问题：Alphabet到底在这里做什么，这有意义吗？</blockquote></p><p> <b>Vertical integration</b></p><p><blockquote><b>纵向一体化</b></blockquote></p><p> The short answer is yes, and no, but mostly no. At least for Alphabet.</p><p><blockquote>简短的回答是肯定的，也是否定的，但大多数情况下是否定的。至少对Alphabet来说是这样。</blockquote></p><p> The argument to favor this change comes down to profitability and control for Alphabet. Apple has proven that deeper vertical integration can be lucrative, and its Bionic chips have continued to improve with each generation. Alphabet, which has built a very limited set of custom ASICs (application specific integrated circuits) for artificial intelligence (AI), wants the market to see it as every bit as capable of this type of move as Apple.</p><p><blockquote>支持这一变化的论点可以归结为Alphabet的盈利能力和控制权。苹果已经证明，更深入的垂直整合可以带来利润，其仿生芯片每一代都在不断改进。Alphabet为人工智能(AI)构建了一套非常有限的定制ASIC（专用集成电路），希望市场看到它与苹果一样有能力采取此类举措。</blockquote></p><p> Furthermore, we have seen Amazon’s&nbsp;AWS and Alibaba&nbsp;build Arm-based solutions for their cloud offerings, and Microsoft&nbsp;has also been touted to be following suit. For the data center, this seems to make sense, with AWS, for instance, seeing success from its Graviton line of CPUs and Trainium series of ML chips. No one would be surprised to see Alphabet significantly increase its efforts to launch or further enhance custom silicon development for its cloud and AI offerings. But servers, and even notebooks, aren’t mobile devices.</p><p><blockquote>此外，我们已经看到Amazon的AWS和阿里巴巴-SW为其云产品构建基于Arm的解决方案，微软也被吹捧为效仿。对于数据中心来说，这似乎是有意义的，例如，AWS从其Graviton系列CPU和Trainium系列ML芯片中看到了成功。如果Alphabet大幅加大力度推出或进一步增强其云和人工智能产品的定制芯片开发，没有人会感到惊讶。但是服务器，甚至笔记本电脑，都不是移动设备。</blockquote></p><p> To launch the M1, Apple spent years on R&amp;D and made several key acquisitions, including Dialog Semiconductor in 2018 for $600 million to add to its internal chipmaking and systems capabilities. It even acquired the remnants of Intel’s mobile modem business upon deciding to move away from Intel on the horizon of 5G. But, with all of that IP, and investment in tow, and even a multi-year legal feud with Qualcomm, Apple still recognized there were some things better left to be done by Qualcomm.</p><p><blockquote>为了推出M1，苹果花了数年时间进行研发，并进行了多项关键收购，包括2018年斥资6亿美元收购Dialog Semiconductor，以增强其内部芯片制造和系统能力。在5G时代决定离开英特尔后，它甚至收购了英特尔移动调制解调器业务的残余。但是，尽管拥有所有这些知识产权、对tow的投资，甚至与高通多年的法律纠纷，苹果仍然认识到有些事情需要高通去做。</blockquote></p><p> Perhaps Alphabet figures with almost no market share and no notoriety around its Pixel smartphone lineup that it doesn’t matter if the Pixel 6 series is a disaster.</p><p><blockquote>也许Alphabet认为，其Pixel智能手机系列几乎没有市场份额，也没有恶名，Pixel 6系列是否是一场灾难并不重要。</blockquote></p><p> And perhaps Google will surprise the world by using its cores plus a lesser-quality modem-RF system to somehow put out a device that will outperform Apple, Samsung and dozens of other handset makers that have entrusted Qualcomm to provide the guts of their devices.</p><p><blockquote>也许谷歌会让世界大吃一惊，它会使用其核心加上质量较差的调制解调器射频系统，以某种方式推出一款设备，其性能将超过苹果、三星和其他数十家委托高通提供其设备核心的手机制造商。</blockquote></p><p> I doubt it, though, and if nearly a decade of insignificant market penetration with their mobile devices serves as an indicator of how well this move will go for Alphabet, I think it’s safe to chalk this up in the L column.</p><p><blockquote>不过，我对此表示怀疑，如果近十年来移动设备微不足道的市场渗透率可以作为Alphabet此举进展如何的指标，我认为可以安全地将其记在L栏中。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alphabet wants to make its own smartphone chips — what in the world is the company thinking?<blockquote>Alphabet想要制造自己的智能手机芯片——该公司到底在想什么？</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\">\nAlphabet wants to make its own smartphone chips — what in the world is the company thinking?<blockquote>Alphabet想要制造自己的智能手机芯片——该公司到底在想什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-04 14:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It’s a big, and risky, bet. Apple did something similar and had a difficult transition</p><p><blockquote>这是一个巨大而冒险的赌注。苹果也做了类似的事情，经历了艰难的转变</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/729798ae4b174d85419678e03af11d00\" tg-width=\"1050\" tg-height=\"699\" width=\"100%\" height=\"auto\"><span>(Photo credit should read Alain Jocard/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片来源应为Alain Jocard/法新社，盖蒂图片社）</span></p></blockquote></p><p> Alphabet said Monday it will take its silicon building in-house when it launches a new flagship line of Google Pixel phones.</p><p><blockquote>Alphabet周一表示，在推出新的谷歌Pixel手机旗舰系列时，将在内部生产硅产品。</blockquote></p><p> The company’s move creates as many questions as it does answers. Perhaps the first being,with only about 2% of the U.S. smartphone market&nbsp;and no real sign of that changing, does a bet like this make sense?</p><p><blockquote>该公司的举动带来的问题和答案一样多。也许第一个是，美国智能手机市场仅占2%左右，而且没有真正的变化迹象，这样的赌注有意义吗？</blockquote></p><p> While much of the analysis of this news pointed to it as a positive step for AlphabetGOOG,+0.21%,I interpreted it as a desperate attempt for the company to make headlines about its poor-performing line of mobile devices and to do so by taking a risk that even AppleAAPL,+1.26%isn’t yet willing to take when it comes to its vertical integration into semiconductors.</p><p><blockquote>虽然这条新闻的大部分分析都指出这对AlphabetGOOG(+0.21%)来说是积极的一步，但我将其解读为该公司孤注一掷地试图让其表现不佳的移动设备系列成为头条新闻，并通过这样做来实现这一目标。即使是AppleAAPL(+1.26%)在垂直整合半导体方面也不愿意承担风险。</blockquote></p><p> <b>Apple’s foreshadowing</b></p><p><blockquote><b>苹果的铺垫</b></blockquote></p><p> Apple made headlines over the past few years with its departure from Intel&nbsp;and the introduction of its M1 architecture. This transition from Intel to homegrown processors built on the increasingly popular Arm architecture was done methodically over several years to ensure that the change would go smoothly. For the most part, the M1 launched without significant incident, but its critics would be the first to point out that the transition was anything but flawless.</p><p><blockquote>过去几年，苹果因脱离英特尔并引入M1架构而成为头条新闻。从英特尔到基于日益流行的Arm架构的国产处理器的过渡是有条不紊地进行的，以确保变革顺利进行。在很大程度上，M1的发射没有发生重大事件，但它的批评者会第一个指出这种转变绝非完美无缺。</blockquote></p><p> It’s also worth pointing out that Apple, while it has incorporated a number of its cores to handle capabilities like image sensing and graphics, has left the modem and radio, oft-referred to as RFFE, to Qualcomm,due to the complexity of building a modem-RF system for 5G, which is incredibly complicated and proper function is imperative to get devices certified by different carriers like Verizon,AT&amp;T,T-Mobile&nbsp;and others.</p><p><blockquote>还值得指出的是，苹果虽然整合了许多核心来处理图像传感和图形等功能，但由于构建5G调制解调器RF系统的复杂性，它将调制解调器和无线电（通常称为RFFE）留给了高通，这非常复杂，并且必须让设备获得威瑞森、美国电话电报公司、T-Mobile等不同运营商的认证。</blockquote></p><p> For some reason that I simply cannot understand, Alphabet wants to abandon not only the Qualcomm Snapdragon, which most simply can be considered the full set of systems to power all the phones features, and ditch it for its own set of cores, but allegedly also abandon Qualcomm’s proven modem-RF system to use (rumored) Samsung’s Exynos, which has almost zero market penetration and has run into issues with power management and carrier certification. Even Samsung uses Qualcomm’s modem-RF system for large portions of its flagship devices, including its U.S. flagship devices. Apple does as well.</p><p><blockquote>出于某种我根本无法理解的原因，Alphabet不仅想放弃高通骁龙，这最简单地可以被认为是为所有手机功能提供动力的全套系统，并放弃它为自己的一套核心，而且据称还想放弃高通经过验证的调制解调器射频系统，使用（据传）三星的Exynos，后者的市场渗透率几乎为零，并在电源管理和运营商认证方面遇到了问题。甚至三星也在其大部分旗舰设备中使用高通的调制解调器-RF系统，包括其美国旗舰设备。苹果也是。</blockquote></p><p> Returning us to the question: What in the world is Alphabet doing here, and does it make any sense?</p><p><blockquote>让我们回到这个问题：Alphabet到底在这里做什么，这有意义吗？</blockquote></p><p> <b>Vertical integration</b></p><p><blockquote><b>纵向一体化</b></blockquote></p><p> The short answer is yes, and no, but mostly no. At least for Alphabet.</p><p><blockquote>简短的回答是肯定的，也是否定的，但大多数情况下是否定的。至少对Alphabet来说是这样。</blockquote></p><p> The argument to favor this change comes down to profitability and control for Alphabet. Apple has proven that deeper vertical integration can be lucrative, and its Bionic chips have continued to improve with each generation. Alphabet, which has built a very limited set of custom ASICs (application specific integrated circuits) for artificial intelligence (AI), wants the market to see it as every bit as capable of this type of move as Apple.</p><p><blockquote>支持这一变化的论点可以归结为Alphabet的盈利能力和控制权。苹果已经证明，更深入的垂直整合可以带来利润，其仿生芯片每一代都在不断改进。Alphabet为人工智能(AI)构建了一套非常有限的定制ASIC（专用集成电路），希望市场看到它与苹果一样有能力采取此类举措。</blockquote></p><p> Furthermore, we have seen Amazon’s&nbsp;AWS and Alibaba&nbsp;build Arm-based solutions for their cloud offerings, and Microsoft&nbsp;has also been touted to be following suit. For the data center, this seems to make sense, with AWS, for instance, seeing success from its Graviton line of CPUs and Trainium series of ML chips. No one would be surprised to see Alphabet significantly increase its efforts to launch or further enhance custom silicon development for its cloud and AI offerings. But servers, and even notebooks, aren’t mobile devices.</p><p><blockquote>此外，我们已经看到Amazon的AWS和阿里巴巴-SW为其云产品构建基于Arm的解决方案，微软也被吹捧为效仿。对于数据中心来说，这似乎是有意义的，例如，AWS从其Graviton系列CPU和Trainium系列ML芯片中看到了成功。如果Alphabet大幅加大力度推出或进一步增强其云和人工智能产品的定制芯片开发，没有人会感到惊讶。但是服务器，甚至笔记本电脑，都不是移动设备。</blockquote></p><p> To launch the M1, Apple spent years on R&amp;D and made several key acquisitions, including Dialog Semiconductor in 2018 for $600 million to add to its internal chipmaking and systems capabilities. It even acquired the remnants of Intel’s mobile modem business upon deciding to move away from Intel on the horizon of 5G. But, with all of that IP, and investment in tow, and even a multi-year legal feud with Qualcomm, Apple still recognized there were some things better left to be done by Qualcomm.</p><p><blockquote>为了推出M1，苹果花了数年时间进行研发，并进行了多项关键收购，包括2018年斥资6亿美元收购Dialog Semiconductor，以增强其内部芯片制造和系统能力。在5G时代决定离开英特尔后，它甚至收购了英特尔移动调制解调器业务的残余。但是，尽管拥有所有这些知识产权、对tow的投资，甚至与高通多年的法律纠纷，苹果仍然认识到有些事情需要高通去做。</blockquote></p><p> Perhaps Alphabet figures with almost no market share and no notoriety around its Pixel smartphone lineup that it doesn’t matter if the Pixel 6 series is a disaster.</p><p><blockquote>也许Alphabet认为，其Pixel智能手机系列几乎没有市场份额，也没有恶名，Pixel 6系列是否是一场灾难并不重要。</blockquote></p><p> And perhaps Google will surprise the world by using its cores plus a lesser-quality modem-RF system to somehow put out a device that will outperform Apple, Samsung and dozens of other handset makers that have entrusted Qualcomm to provide the guts of their devices.</p><p><blockquote>也许谷歌会让世界大吃一惊，它会使用其核心加上质量较差的调制解调器射频系统，以某种方式推出一款设备，其性能将超过苹果、三星和其他数十家委托高通提供其设备核心的手机制造商。</blockquote></p><p> I doubt it, though, and if nearly a decade of insignificant market penetration with their mobile devices serves as an indicator of how well this move will go for Alphabet, I think it’s safe to chalk this up in the L column.</p><p><blockquote>不过，我对此表示怀疑，如果近十年来移动设备微不足道的市场渗透率可以作为Alphabet此举进展如何的指标，我认为可以安全地将其记在L栏中。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/alphabet-wants-to-make-its-own-smartphone-chips-what-in-the-world-is-the-company-thinking-11628003771?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A"},"source_url":"https://www.marketwatch.com/story/alphabet-wants-to-make-its-own-smartphone-chips-what-in-the-world-is-the-company-thinking-11628003771?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135713978","content_text":"It’s a big, and risky, bet. Apple did something similar and had a difficult transition\n(Photo credit should read Alain Jocard/AFP via Getty Images)\nAlphabet said Monday it will take its silicon building in-house when it launches a new flagship line of Google Pixel phones.\nThe company’s move creates as many questions as it does answers. Perhaps the first being,with only about 2% of the U.S. smartphone market and no real sign of that changing, does a bet like this make sense?\nWhile much of the analysis of this news pointed to it as a positive step for AlphabetGOOG,+0.21%,I interpreted it as a desperate attempt for the company to make headlines about its poor-performing line of mobile devices and to do so by taking a risk that even AppleAAPL,+1.26%isn’t yet willing to take when it comes to its vertical integration into semiconductors.\nApple’s foreshadowing\nApple made headlines over the past few years with its departure from Intel and the introduction of its M1 architecture. This transition from Intel to homegrown processors built on the increasingly popular Arm architecture was done methodically over several years to ensure that the change would go smoothly. For the most part, the M1 launched without significant incident, but its critics would be the first to point out that the transition was anything but flawless.\nIt’s also worth pointing out that Apple, while it has incorporated a number of its cores to handle capabilities like image sensing and graphics, has left the modem and radio, oft-referred to as RFFE, to Qualcomm,due to the complexity of building a modem-RF system for 5G, which is incredibly complicated and proper function is imperative to get devices certified by different carriers like Verizon,AT&T,T-Mobile and others.\nFor some reason that I simply cannot understand, Alphabet wants to abandon not only the Qualcomm Snapdragon, which most simply can be considered the full set of systems to power all the phones features, and ditch it for its own set of cores, but allegedly also abandon Qualcomm’s proven modem-RF system to use (rumored) Samsung’s Exynos, which has almost zero market penetration and has run into issues with power management and carrier certification. Even Samsung uses Qualcomm’s modem-RF system for large portions of its flagship devices, including its U.S. flagship devices. Apple does as well.\nReturning us to the question: What in the world is Alphabet doing here, and does it make any sense?\nVertical integration\nThe short answer is yes, and no, but mostly no. At least for Alphabet.\nThe argument to favor this change comes down to profitability and control for Alphabet. Apple has proven that deeper vertical integration can be lucrative, and its Bionic chips have continued to improve with each generation. Alphabet, which has built a very limited set of custom ASICs (application specific integrated circuits) for artificial intelligence (AI), wants the market to see it as every bit as capable of this type of move as Apple.\nFurthermore, we have seen Amazon’s AWS and Alibaba build Arm-based solutions for their cloud offerings, and Microsoft has also been touted to be following suit. For the data center, this seems to make sense, with AWS, for instance, seeing success from its Graviton line of CPUs and Trainium series of ML chips. No one would be surprised to see Alphabet significantly increase its efforts to launch or further enhance custom silicon development for its cloud and AI offerings. But servers, and even notebooks, aren’t mobile devices.\nTo launch the M1, Apple spent years on R&D and made several key acquisitions, including Dialog Semiconductor in 2018 for $600 million to add to its internal chipmaking and systems capabilities. It even acquired the remnants of Intel’s mobile modem business upon deciding to move away from Intel on the horizon of 5G. But, with all of that IP, and investment in tow, and even a multi-year legal feud with Qualcomm, Apple still recognized there were some things better left to be done by Qualcomm.\nPerhaps Alphabet figures with almost no market share and no notoriety around its Pixel smartphone lineup that it doesn’t matter if the Pixel 6 series is a disaster.\nAnd perhaps Google will surprise the world by using its cores plus a lesser-quality modem-RF system to somehow put out a device that will outperform Apple, Samsung and dozens of other handset makers that have entrusted Qualcomm to provide the guts of their devices.\nI doubt it, though, and if nearly a decade of insignificant market penetration with their mobile devices serves as an indicator of how well this move will go for Alphabet, I think it’s safe to chalk this up in the L column.","news_type":1,"symbols_score_info":{"GOOGL":0.9,"GOOG":0.9}},"isVote":1,"tweetType":1,"viewCount":3625,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804819017,"gmtCreate":1627949307239,"gmtModify":1633755045818,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/804819017","repostId":"2156117308","repostType":4,"isVote":1,"tweetType":1,"viewCount":2398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804891598,"gmtCreate":1627948736314,"gmtModify":1633755062137,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"That’s real bad&nbsp;Please like my comment brothers&nbsp;","listText":"That’s real bad&nbsp;Please like my comment brothers&nbsp;","text":"That’s real bad Please like my comment brothers","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/804891598","repostId":"2156114224","repostType":4,"isVote":1,"tweetType":1,"viewCount":2610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804890676,"gmtCreate":1627948630995,"gmtModify":1633755065349,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Amazing&nbsp;","listText":"Amazing&nbsp;","text":"Amazing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/804890676","repostId":"1155521665","repostType":4,"repost":{"id":"1155521665","kind":"news","pubTimestamp":1627948320,"share":"https://www.laohu8.com/m/news/1155521665?lang=zh_CN&edition=full","pubTime":"2021-08-03 07:52","market":"us","language":"en","title":"Corporate Margins Set To Tumble As Companies Freak Out About Surge In \"Bad Inflation\"<blockquote>由于企业对“糟糕的通胀”激增感到恐慌，企业利润率将大幅下降</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155521665","media":"zerohedge","summary":"First the good news: according to Bank of America's earnings tracker, Q2 earnings season is already ","content":"<p>First the good news: according to Bank of America's earnings tracker, Q2 earnings season is already <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the strongest in history (as one would expect following trillions in fiscal and monetary stimulus and comping off the catastrophic Q2 of 2020 when covid shut down the economy), and following the busiest earnings week of 2Q, 296 S&amp;P 500 companies (76% of index earnings) have reported. 2Q EPS is now tracking a 13% beat or $51.12, topping BofA's estimate of $50 or an 11% beat; and far above the historical average since the start of earnings season.</p><p><blockquote>首先是好消息：根据美国银行的盈利追踪，第二季度财报季已经到来<a href=\"https://laohu8.com/S/AONE.U\">一</a>历史上最强劲的一周（正如人们所预期的那样，在数万亿美元的财政和货币刺激措施以及弥补2020年灾难性的Q2（当时covid关闭了经济）之后），在第二季度最繁忙的财报周之后，296家标普500公司（占指数收益的76%）已报告。第二季度每股收益目前增长13%，即51.12美元，高于美国银行预期的50美元，即11%；远高于财报季开始以来的历史平均水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0716a10a73647f8d7215368a92b625a\" tg-width=\"500\" tg-height=\"666\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> To avoid the skewed 2020 data and doing a two-year lookback, 2Q is now expected to be +83% YoY or +24% vs. 2Q19, vs. last quarter’s 25% 2-yr growth rate. Financials, Communication Services, and Consumer Discretionary led the EPS beat, while revenues are also coming in red hot and tracking a 3% beat, led by Energy.</p><p><blockquote>为了避免2020年数据失真并进行两年回顾，目前预计第二季度同比增长+83%，较2019年第二季度增长+24%，而上一季度的两年增长率为25%。金融、通信服务和非必需消费品引领每股收益增长，而收入也表现强劲，在能源引领下增长3%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/98d74a1ff25d94d2f21cb76c7a0feeb4\" tg-width=\"500\" tg-height=\"219\" referrerpolicy=\"no-referrer\">More importantly, the proportion of beats also remained strong: 83%/85%/74% of companies beat on EPS/sales/both, representing the best proportion of beats in history (since 2011).</p><p><blockquote>更重要的是，beats的比例也保持强劲：83%/85%/74%的公司在EPS/销售额/两者上都击败，代表了历史上（自2011年以来）最好的beats比例。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/52a434c5a68c9f21dc2194bf17ec5968\" tg-width=\"500\" tg-height=\"209\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Looking at the top line, analysts now expect 2Q sales to rise 21% YoY, vs. 14% YoY last quarter. Energy is expected to lead (+102%), while Financials are forecast to be the biggest drag (-4%). Here, BofA estimates that FX tailwinds thanks to a weaker dollar added about 3% to YoY sales growth (Exhibit 4), representing the biggest benefit since 2011. Excluding FX/oil impacts, constant-currency sales growth for the S&amp;P 500 ex. Fins. &amp; Energy is expected to be +15% YoY (Exhibit 5), accelerating from the 13% growth last quarter.</p><p><blockquote>从营收来看，分析师目前预计第二季度销售额将同比增长21%，而上季度同比增长14%。能源预计将领先（+102%），而金融预计将成为最大的拖累（-4%）。在这里，美国银行估计，美元疲软带来的外汇顺风使销售额同比增长约3%（图表4），这是自2011年以来的最大收益。排除外汇/石油影响，标普500 ex的固定汇率销售额增长。芬兰人。&amp;能源预计同比增长15%（图表5），较上季度13%的增长有所加快。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a083b38acb227f2d401ebf396c3c322\" tg-width=\"500\" tg-height=\"195\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> What is more surprising is that in a quarter when many predicted margins would be hit by surging input costs, not only was that not the case but&nbsp;<b>companies once again posted skyhigh margins, with 2Q net margins (ex-Financials) jumping to a new high at 13.0%, topping last quarter’s 12.5%.</b>&nbsp;This was consistent with BofA's Corporate Misery Indicator, which rose to a record high (“least miserable”) in 2Q, indicating&nbsp;<b>it was among the most favorable macro environment for corporate margins in history since 1978!</b></p><p><blockquote>更令人惊讶的是，在许多预测利润率将受到投入成本飙升打击的季度，情况不仅并非如此，而且<b>公司再次公布了天价利润率，第二季度净利润率（不包括财务）跃升至13.0%的新高，高于上季度的12.5%。</b>这与美国银行的企业痛苦指标一致，该指标在第二季度升至历史新高（“最不痛苦”），表明<b>这是自1978年以来历史上对企业利润率最有利的宏观环境之一！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/aaf7e16f03f8f1610b1948ada2c2ce75\" tg-width=\"500\" tg-height=\"259\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> How is this possible in a time when numerous commodity prices have hit never before seen levels? Simple: companies have experienced virtually no pushback to rising prices as most Americans can easily absorb the rampant inflation. Indeed, as IHS <a href=\"https://laohu8.com/S/MRKT\">Markit</a> Chief Economist Chris Williamsoncommented in todaythis is \"<b>perhaps the strongest sellers’ market that we’ve seen since the survey began in 2007</b>,<b>with suppliers hiking prices for inputs into factories at the steepest rate yet recorded and manufacturers able to raise their selling prices to an unprecedented extent, as both suppliers and producers often encounter little price resistance from customers.</b>\" It remains to be seen just how long such a \"seller's market\" will be the norm, although we expect it to reverse quite painfully once government handouts end.</p><p><blockquote>在众多大宗商品价格达到前所未有的水平之际，这怎么可能呢？很简单：公司几乎没有遇到价格上涨的阻力，因为大多数美国人可以轻松吸收猖獗的通货膨胀。事实上，作为IHS<a href=\"https://laohu8.com/S/MRKT\">Markit</a>首席经济学家克里斯·威廉姆森在《今日》中评论道：“<b>也许是自2007年调查开始以来我们看到的最强劲的卖方市场</b>,<b>供应商以有史以来最快的速度提高工厂投入品的价格，制造商能够将销售价格提高到前所未有的程度，因为供应商和生产商通常很少遇到客户的价格阻力。</b>“这种‘卖方市场’将成为常态多久还有待观察，尽管我们预计一旦政府施舍结束，这种情况将会非常痛苦地逆转。</blockquote></p><p> In any case, that was the good news:&nbsp;<b>now the bad</b>and that was summarized best by BofA's Savita Subramanian who wrote that&nbsp;<b>\"we are starting to see the good inflation environment turning into a bad inflation environment with many companies citing accelerating cost inflation, particularly around wages.\"</b></p><p><blockquote>无论如何，这是个好消息：<b>现在坏的</b>美国银行的Savita Subramanian对此做了最好的总结，她写道<b>“我们开始看到良好的通胀环境变成了糟糕的通胀环境，许多公司都提到成本通胀加速，尤其是在工资方面。”</b></blockquote></p><p> Indeed, as shown in the chart above, consensus margin expectations for 2H reflect this risk, with margins forecast to moderate to 12.6 % in 3Q and 12.5% in 4Q. But if cost pressure continues to accelerate, we could see more downside risk in 2H margins.</p><p><blockquote>事实上，如上图所示，下半年的普遍利润率预期反映了这种风险，预计第三季度利润率将放缓至12.6%，第四季度将放缓至12.5%。但如果成本压力继续加速，我们可能会看到下半年利润率面临更多下行风险。</blockquote></p><p> And nobody captures this risk better than companies themselves: according to word counts of corporate earnings transcripts by BofA's Predictive Analytics team, mentions of “inflation” on 2Q earnings calls topped 1Q levels and jumped to a record high, based on BofA's Predictive Analytics team’s analysis.&nbsp;<b>On a YoY basis, inflation mentions rose nearly 1100% YoY, outpacing the 900% increase we saw last quarter.</b></p><p><blockquote>没有人比公司本身更能捕捉到这一风险：根据美国银行预测分析团队对企业盈利记录的字数统计，根据美国银行预测分析团队的分析，第二季度盈利评级中提及“通胀”的次数超过了第一季度的水平，跃升至历史新高。<b>与去年同期相比，通胀提及量同比增长近1100%，超过了上季度900%的增幅。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/42b5b77e1ca11db2481ecccefbc904da\" tg-width=\"500\" tg-height=\"380\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p> Notably, labor-related mentions - i.e., discussion of rising wages - rose the most among inflation categories BofA tracks in 2Q, up 155% YoY. This compares to last quarter when labor-related mentions rose the least (+12% YoY), pointing to soaring wage pressure, and is why BofA remains cautious on labor-intensive Consumer Discretionary and Industrials.</p><p><blockquote>值得注意的是，与劳工相关的提及（即讨论工资上涨）在美国银行第二季度追踪的通胀类别中涨幅最大，同比增长155%。相比之下，上个季度与劳动力相关的提及量增幅最小（同比+12%），表明工资压力飙升，这也是美国银行对劳动密集型非必需消费品和工业行业保持谨慎的原因。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9235c28e23278de9e719e21da1cf0a78\" tg-width=\"500\" tg-height=\"379\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Meanwhile, supply-chain related mentions also more than doubled YoY (+106% vs. +17% YoY in 1Q). Both supply chain and labor related mentions rose to record highs in BofA data history since 2004.</p><p><blockquote>与此同时，供应链相关的提及量也同比增长了一倍多（第一季度同比增长106%，而第一季度同比增长17%）。自2004年以来，供应链和劳动力相关的提及均升至美国银行数据历史新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6e01d32803023d4595f677af9258eddb\" tg-width=\"500\" tg-height=\"234\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> And before we dig through the actual earnings transcripts, we leave the most ominous finding for last: using earnings calls transcripts, BofA calculated sentiment for S&amp;P500 companies that have reported this earnings season (it used Loughran McDonald's financial dictionary to calculate sentiment scores.) Overall, BofA found that corporate sentiment dipped from a record high, indicating peak corporate sentiment amid inflation concerns and rising cases of the Delta variant.</p><p><blockquote>在我们深入研究实际盈利记录之前，我们将最不祥的发现留到最后：美国银行使用评级盈利记录计算了已报告本财报季的标准普尔500指数公司的情绪（它使用Loughran McDonald’s financial dictionary来计算情绪得分。）总体而言，美国银行发现企业情绪从历史高位下降，表明在通胀担忧和Delta变体病例增加的情况下，企业情绪达到顶峰。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1fc45084868c36d4b2e90838ee476b4e\" tg-width=\"500\" tg-height=\"185\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Similarly, companies mentions of business condition (ratio of mentions of “better” or “stronger” vs. “worse” or “weaker”)&nbsp;<b>indicate weaker business conditions vs. the peak level last quarter</b>. Mentions of optimism also declined from the peak levels in the prior two quarters.</p><p><blockquote>同样，公司提及业务状况（提及“更好”或“更强”与“更差”或“更弱”的比率）<b>表明商业状况较上季度的峰值水平疲软</b>.乐观情绪的提及也较前两个季度的峰值水平有所下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d3ca73d0965ee396ac65e72bbcccaed3\" tg-width=\"500\" tg-height=\"218\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> To summarize: yes, Q2 earnings were a huge beat and margins were a record high... but it's all downhill from here as the \"bad inflation\" (to companies, and very good inflation to workers) is about to roll down the income statement, resulting in sharply lower margins and deteriorating earnings. And insiders know this well, which is why corporate sentiment has already rolled over and is down despite a true earnings bonanza, and is also why corporation optimism has moved sharply lower, a move which will accelerate to the downside as soon as margins are hit by surging wages and as soon companies can no longer pass through sharply higher input prices.</p><p><blockquote>总结：是的，第二季度盈利大幅增长，利润率创历史新高……但从这里开始，一切都在走下坡路，因为“糟糕的通货膨胀”（对公司来说，非常好的通货膨胀）即将压低损益表，导致利润率急剧下降和盈利恶化。内部人士很清楚这一点，这就是为什么尽管盈利确实丰厚，但企业情绪已经出现逆转并下降，也是为什么企业乐观情绪急剧下降，一旦利润率受到打击，这种趋势就会加速下行。工资飙升，一旦公司无法再承受大幅上涨的投入价格。</blockquote></p><p> <i>Finally, courtesy of BofA, here is a snapshot of what some of the most notable companies just said about inflation, bad or otherwise:</i></p><p><blockquote><i>最后，由美国银行提供，以下是一些最著名的公司刚刚对通货膨胀的看法，无论是坏的还是坏的：</i></blockquote></p><p> <b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a> </b><b>(Discretionary)</b>: “The other thing is wage pressure has become evident. We've talked about this a bit. The wage increase that we normally would do in October we pulled forward into May. We're spending a lot of money on signing and incentives. And while we have very good staffing levels, it's not without cost. It's a very competitive labor market out there and certainly the biggest contributor to inflationary pressures that we're seeing in the business.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/AMZN\">亚马逊</a></b><b>（酌情）</b>：“另一件事是工资压力变得很明显。我们已经讨论过这个问题了。我们通常在10月份进行的工资增长被提前到了5月份。我们在签约和激励上花了很多钱。虽然我们的人员配备水平非常好，但这并非没有成本。”这是一个竞争非常激烈的劳动力市场，当然也是我们在该行业看到的通胀压力的最大因素。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NWL\">Newell</a></b> <b>(Discretionary):</b>&nbsp;“We expect Q3 to be the peak quarter for inflation pressure, which will significantly weigh on the company's margin performance.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/NWL\">纽维尔</a></b><b>（酌情）：</b>“我们预计第三季度将是通胀压力的高峰季度，这将严重影响公司的利润率表现。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/ITW\">Illinois Tool</a> </b><b>(Industrials):</b>&nbsp;“We continue to expect price/cost impact to be EPS-neutral or better for the year. […] We continue to experience raw material cost increases, particularly in categories such as steel, resins and chemicals and now project raw material cost inflation at around 7% for the full year which is almost 5 percentage points higher than what we anticipated as the year began. And just for some perspective, this is roughly 2x what we experienced in the 2018 inflation/tariff cycle.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ITW\">伊利诺伊工具</a></b><b>（工业）：</b>“我们仍然预计今年的价格/成本影响对每股收益中性或更好。[……]我们继续经历原材料成本上涨，特别是在钢铁、树脂和化学品等类别，现在预计原材料成本通胀全年约为7%，比我们年初的预期高出近5个百分点。从某种角度来看，这大约是我们在2018年通胀/关税周期中经历的两倍。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CHD\">Church &amp; Dwight</a></b> <b>(Staples):</b>&nbsp;“We now expect full year gross margin to be down 75 basis points. This represents an incremental impact from our last guidance due to broad-based inflation on raw materials and transportation costs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CHD\">丘奇&amp;德怀特</a></b><b>（订书钉）：</b>“我们现在预计全年毛利率将下降75个基点。由于原材料和运输成本的广泛通胀，这代表了我们上次指引的增量影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IP\">International Paper</a> </b><b>(Materials):</b>&nbsp;“We do expect further input cost inflation in the third quarter with substantial pressure on OCC and transportation costs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/IP\">国际论文</a></b><b>（材料）：</b>“我们确实预计第三季度投入成本将进一步上涨，OCC和运输成本将面临巨大压力。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/HSY\">Hershey</a></b> <b>(Consumer Discretionary):</b>&nbsp;“In the second half of the year, we expect increased packaging and freight costs to continue. We also expect labor costs to remain elevated as higher levels of marketplace attrition contribute to more overtime and accelerated hiring to keep pace with demand. While we expect more price realization in the second half versus the first half, we also expect less sales volume benefits... And then in addition, I think labor rates in general and labor availability in general are a pressure point beyond just volume. The market for labor is challenging. And so just like everyone, we want to make sure we are staying ahead of the curve on hiring, making sure our value proposition at our plants is attractive. And packaging inflation similar, packaging inflation we touched on a little bit on the last call. It's still a pressure point. I think we're still optimistic we're going to see that moderate as we go forward, but we haven't seen it yet. And so, it is a combination of those transitory costs on the back of the higher volume and a few things that are a little bit [stickier] here as we look across the balance of the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/HSY\">赫尔希</a></b><b>（非必需消费品）：</b>“今年下半年，我们预计包装和货运成本将继续增加。我们还预计劳动力成本将保持在高位，因为更高水平的市场流失导致更多的加班和加速招聘以跟上需求。虽然我们预计下半年的价格实现比上半年更多，但我们也预计销量收益会减少...此外，我认为总体劳动力率和总体劳动力可用性是一个压力点，而不仅仅是数量。劳动力市场充满挑战。因此，就像每个人一样，我们希望确保我们在招聘方面保持领先地位，确保我们工厂的价值主张具有吸引力。包装通货膨胀类似，我们在上次看涨期权中稍微谈到了包装通货膨胀。仍然是一个压力点。我认为我们仍然乐观地认为，随着我们的前进，我们将看到这种温和，但我们还没有看到。因此，这是销量增加带来的暂时性成本以及当我们展望今年剩余时间时一些有点[粘性]的因素的结合。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TFX\">Teleflex</a></b> <b>(Health Care):</b>&nbsp;“Any inflation that we saw, we saw it begin last year in transportation. So, that was already in our run rate. And we saw some modest inflation in some of our resins, but it was pretty – it's very manageable, and we're going to more than offset it with really positive pricing and building momentum in the quarter with that positive pricing.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/TFX\">Teleflex</a></b><b>（保健）：</b>“我们看到的任何通货膨胀，我们都看到它始于去年的交通运输领域。所以，这已经在我们的运行率中了。我们看到我们的一些树脂出现了一些温和的通货膨胀，但这很好——这是非常可控的，我们将通过真正积极的定价来抵消它，并通过积极的定价在本季度建立势头。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/LKQ\">LKQ Corp</a> </b><b>(Consumer Discretionary):</b>&nbsp;“Across all of our segments, we are experiencing some level of supply chain shortages and disruptions. These disruptions are creating product scarcity and freight delays that are resulting in meaningful availability pressures in certain product lines. The supply chain challenges are also driving product inflation, which in turn, is generating the most robust pricing environment we've seen in years. Across all of our segments, we have been very effective in passing along these costs as witnessed by our margin performance. Alongside supply chain inflationary pressures, like many businesses across the globe, we are facing wage inflation and increased competition for labor.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/LKQ\">LKQ公司</a></b><b>（非必需消费品）：</b>“在我们所有的细分市场中，我们都在经历某种程度的供应链短缺和中断。这些中断正在造成产品短缺和货运延误，从而给某些产品线带来巨大的可用性压力。供应链挑战也在推动产品通胀，这反过来又创造了我们多年来所见过的最强劲的定价环境。在我们所有的细分市场中，我们在转嫁这些成本方面都非常有效，正如我们的利润率表现所证明的那样。除了供应链通胀压力之外，与全球许多企业一样，我们还面临着工资通胀和劳动力竞争加剧的问题。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MAS\">Masco</a></b> <b>(Industrials):</b>&nbsp;“We continue to see escalating inflation across most of our cost basket, including freight, resins, TiO2 and packaging. Inbound freight container costs nearly tripled during the quarter. We now expect our all-in cost inflation to be in the high single-digit range for the full year for both our Plumbing and Decorative segments, with low double-digit inflation in the second half of the year.</p><p><blockquote><b><a href=\"https://laohu8.com/S/MAS\">马斯科</a></b><b>（工业）：</b>“我们继续看到我们大部分成本篮子的通胀不断升级，包括货运、树脂、二氧化钛和包装。本季度入境货运集装箱成本几乎增加了两倍。我们现在预计我们的总成本通胀将处于高个位数水平我们的管道和装饰部门全年都在数字范围内，下半年通胀率将达到两位数。</blockquote></p><p> Inflation in coatings will likely be in the mid-teens later in the fourth quarter. To mitigate this inflation, we have secured price increases across both segments and are taking further pricing action across our business to address these continued cost escalations. We are also working with our suppliers, customers and internal teams to implement further productivity measures to help offset these costs. Despite the increased inflation, we still expect to achieve price/cost neutrality by year-end. While cost inflation has clearly been an issue, material availability has also impacted our business.”</p><p><blockquote>第四季度晚些时候，涂料的通胀率可能会在十几岁左右。为了缓解这种通货膨胀，我们已经确保了两个细分市场的价格上涨，并正在整个业务中采取进一步的定价行动，以解决这些持续的成本上涨问题。我们还与供应商、客户和内部团队合作，实施进一步的生产力措施，以帮助抵消这些成本。尽管通胀加剧，我们仍预计到年底将实现价格/成本中性。虽然成本上涨显然是一个问题，但材料可用性也影响了我们的业务。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/FBHS\">Fortune Brands Home &amp; Security</a> </b><b>(Industrials):</b>&nbsp;“While inflation headwinds were anticipated, they continued to strengthen throughout the quarter. As I mentioned earlier, we are taking incremental actions during the second half of the year to offset increased inflation. […]Through this combination of cost and thoughtful pricing actions, we plan to offset all inflationary headwinds this year and expect to deliver 2021 operating margin improvement.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/FBHS\">财富品牌家居与安全</a></b><b>（工业）：</b>“虽然通胀不利因素在意料之中，但它们在整个季度继续走强。正如我之前提到的，我们正在下半年采取增量行动来抵消通胀上升。[……]通过成本和深思熟虑的定价行动的结合，我们计划今年抵消所有通胀不利因素，并预计2021年营业利润率将有所改善。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AVY\">Avery Dennison</a> </b><b>(Materials):</b>&nbsp;“Given the increasing inflationary pressures, we are redoubling our efforts on material re-engineering and again raising prices. We are targeting to close the inflation gap relative to mid last year by the fourth quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/AVY\">艾利丹尼森</a></b><b>（材料）：</b>“鉴于通胀压力不断加大，我们正在加倍努力进行材料再造并再次提高价格。我们的目标是在第四季度之前缩小相对于去年年中的通胀差距。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IEX\">IDEX Corp</a> </b><b>(Industrials):</b>“We anticipated rising inflation as the global economy recovered, but like many, did not imagine the sharp rate of increase. This narrowed our spread between price capture and material costs, although we remain positive overall. Our teams leveraged the systematic investments we made a few years ago in pricing management and aggressively deployed two, sometimes three pricing adjustments with precision. We are on track to expand our price/cost spread to typical levels as we travel to the back half of the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/IEX\">IDEX公司</a></b><b>（工业）：</b>“随着全球经济复苏，我们预计通胀会上升，但像许多人一样，没有想到会出现如此急剧的增长率。这缩小了我们的价格捕获和材料成本之间的差距，尽管我们总体上仍然保持乐观。我们的团队利用了我们所做的系统投资几年前在定价管理方面，并积极部署了两次，有时是三次精确的定价调整。随着我们进入今年下半年，我们有望将价格/成本价差扩大到典型水平。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/ODFL\">Old Dominion Freight Lines</a> </b><b><b>(</b></b><b>Industrials):</b>&nbsp;“It's a tighter labor market than certainly we're used to. Of course, I've been here for a long time and I don't ever remember the growth percentages in the past that we've got today. So, it's definitely a bigger challenge than it's ever been.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ODFL\">老自治领货运公司</a></b><b><b>(</b></b><b>工业）：</b>“劳动力市场肯定比我们习惯的更加紧张。当然，我在这里已经很长时间了，我从来不记得过去的增长率有今天。所以，这绝对是一个比以往任何时候都更大的挑战。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MHK\">Mohawk</a> </b><b>(Consumer Discretionary):</b>&nbsp;“We anticipate material and freight challenges will continue to impact our business in the third quarter. To compensate for material inflation, we have increased prices and we expect further increases will be required as our costs continue to rise”</p><p><blockquote><b><a href=\"https://laohu8.com/S/MHK\">莫霍克</a></b><b>（非必需消费品）：</b>“我们预计材料和货运挑战将继续影响我们第三季度的业务。为了弥补材料通胀，我们提高了价格，并且随着成本持续上升，我们预计将需要进一步涨价”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MDLZ\">Mondelez</a> </b><b>(Staples):</b>&nbsp;“As we said many times, inflation and commodity costs are higher than we originally anticipated at the start of 2021, but we continue to believe that they are manageable. In terms of pricing and inflation, I would say there is going to be more in the second part of the year. To start with, our pipeline of commodities and FX has been advantageous in the first part of the year, and we expect some commodities and FX impact to be relatively higher in the second part. So there will be some more pressure in Q3 specifically, but we will continue to be very disciplined in terms of costs and pricing.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/MDLZ\">亿滋</a></b><b>（订书钉）：</b>“正如我们多次说过的那样，通胀和大宗商品成本高于我们在2021年初最初的预期，但我们仍然相信它们是可控的。在定价和通胀方面，我想说会有更多在今年的第二部分。首先，我们的大宗商品和外汇渠道在今年上半年一直具有优势，我们预计一些大宗商品和外汇的影响在下半年会相对较高。因此，第三季度的压力会更大，但我们将继续在成本和定价方面非常严格。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SBUX\">Starbucks</a></b> <b>(Consumer Discretionary):</b>&nbsp;“While we're thrilled with our margin performance in Q3, we expect it to moderate slightly in Q4 primarily due to the growing impact of inflation coupled with incremental investments critical to our continued growth.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SBUX\">星巴克</a></b><b>（非必需消费品）：</b>“虽然我们对第三季度的利润率表现感到兴奋，但我们预计第四季度的利润率将略有放缓，这主要是由于通货膨胀的影响越来越大，加上对我们的持续增长至关重要的增量投资。”</blockquote></p><p> “So in Q3 we had outstanding performance, but within that we covered headwinds in the Americas business of about 70 basis points. And we expect headwinds related to rising costs and inflationary pressures to continue into Q4 which is reflected in the guidance that we've given.”</p><p><blockquote>“因此，在第三季度，我们取得了出色的业绩，但在此期间，我们应对了美洲业务约70个基点的不利因素。我们预计与成本上升和通胀压力相关的不利因素将持续到第四季度，这反映在我们给出的指引中。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SHW\">Sherwin-Williams</a> </b><b>(Materials):</b>&nbsp;“Our gross margins were under considerable pressure in the quarter given the sustained higher raw material costs. However, as we have demonstrated in past inflationary cycles, we are fully committed to offsetting these costs, and we announced additional pricing actions in the quarter, which will be realized as the year goes on.”... “We anticipate year-over-year inflation in the third quarter to be higher than it was in the second quarter with only slight improvement in the fourth quarter as demand remains high.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SHW\">舍温-威廉姆斯</a></b><b>（材料）：</b>“鉴于原材料成本持续上涨，我们的毛利率在本季度面临相当大的压力。然而，正如我们在过去的通胀周期中所证明的那样，我们完全致力于抵消这些成本，我们在本季度宣布了额外的定价行动，这将随着时间的推移而实现。”……“我们预计第三季度的同比通胀率将高于第二季度，由于需求仍然强劲，第四季度仅略有改善。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/WM\">Waste Management</a></b> <b>(Industrials):</b>&nbsp;“It's no surprise to anyone who follows economic indicators that most businesses are experiencing inflation in their costs throughout 2021 and our business is no exception, particularly with regard to labor. We expect to overcome these pressures by increasing operating efficiencies and executing on our disciplined pricing programs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/WM\">废物管理</a></b><b>（工业）：</b>“对于任何关注经济指标的人来说，大多数企业在2021年都在经历成本通胀，这并不奇怪，我们的业务也不例外，特别是在劳动力方面。我们希望通过提高运营效率和执行我们严格的定价计划来克服这些压力。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/RSG\">Republic</a> </b><b>(Industrials):</b>&nbsp;“we're seeing very modest inflation in this year's economics; kind of do an annual increase and we give our people a fair increase every year. We expect that certainly to tick up next year, but to be more than offset by our ability to price through that. And so we think that inflation net-net will be margin expanding for us.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/RSG\">共和国</a></b><b>（工业）：</b>“我们看到今年的经济通胀非常温和；每年都会增加，我们每年都会给我们的人民带来公平的增长。我们预计明年肯定会上升，但这将被我们的定价能力所抵消。因此，我们认为通胀净额将扩大我们的利润率。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/LW\">Lamb Weston Holdings, Inc.</a> </b><b>(Staples):</b>&nbsp;“As a result, we expect input cost inflation, especially for edible oils packaging and transportation to be a significant headwind for fiscal 2022. Our goal is to offset inflation using combination of levers including pricing. To that end, we just began implementing broad-based price increases in our Foodservice and Retail segments, and don't expect to see the most of their benefit until our fiscal third quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/LW\">兰姆·韦斯顿控股公司。</a></b><b>（订书钉）：</b>“因此，我们预计投入成本通胀，尤其是食用油包装和运输成本通胀，将成为2022财年的一个重大阻力。我们的目标是使用包括定价在内的杠杆组合来抵消通胀。为此，我们刚刚开始实施广泛的食品服务和零售部门的价格上涨，预计要到第三财季才能看到最大的好处。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IQV\">IQVIA</a> </b><b>(Health Care):</b>&nbsp;“it's no secret that given the strength of the industry backdrop, there's obviously strong competition for talent. […] Now does it cause a certain amount of anxiety in the industry? And yes, it's true. And has it caused some level of wage inflation? Yes, that is true. There is also a little bit of an uptick in attrition levels as a consequence of all of that. All of that is true... But again, we feel confident. We do not anticipate this to cause any significant – there will be some level of headwind to our margins, but we have so many programs and productivity measures and process improvement measures in place that we are confident we will overwhelm.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/IQV\">IQVIA</a></b><b>（保健）：</b>“众所周知，鉴于行业背景的实力，对人才的竞争显然很激烈。【……】现在这是否会在行业中引起一定程度的焦虑？是的，这是真的。这是否会导致一定程度的工资上涨？是的，这是真的。因此，流失率也略有上升。所有这些都是真的...但同样，我们充满信心。我们预计这不会对我们的利润率造成任何重大影响，但我们有如此多的计划、生产力措施和流程改进措施，我们有信心我们将势不可挡。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/KMB\">Kimberly-Clark</a> </b><b>(Staples):</b>&nbsp;“Obviously, given that amount and given our outlook, we are covering a significant portion of that, but we can't practically cover all of that this year […] And so, what I would say is, part one, our pricing implementation is largely on track and we expect to fully offset inflation over time. Not all this year, but over time.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/KMB\">金佰利-克拉克</a></b><b>（订书钉）：</b>“显然，考虑到这个数额和我们的前景，我们正在涵盖其中的很大一部分，但我们今年实际上无法涵盖所有这些[...]因此，我想说的是，第一部分，我们的定价实施基本步入正轨，我们预计随着时间的推移将完全抵消通货膨胀。不是今年，而是随着时间的推移。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SWK\">Stanley Black &amp; Decker</a></b> <b>(Industrials):</b>&nbsp;“We continue to see elevated commodity prices and now expect $260 million of commodity inflation in the second half versus our prior assumption of $210 million. In particular, elevated steel pricing is largely driving the $50 million increase. We are now in the full implementation mode and believe we should be in a position to offset approximately 50% of the 2021 headwind, netting material inflation and better price realization is a neutral effect versus the prior guidance. The goal is to have our actions in place during the third quarter, so the 2022 carryover benefits of price and margin actions fully offset the carryover inflation”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SWK\">斯坦利百得</a></b><b>（工业）：</b>“我们继续看到大宗商品价格上涨，目前预计下半年大宗商品通胀将达到2.6亿美元，而我们之前的假设为2.1亿美元。特别是，钢铁价格上涨在很大程度上推动了5000万美元的增长。我们现在处于全面实施模式，相信我们应该能够抵消2021年约50%的逆风，与之前的指导相比，扣除实质性通胀和更好的价格实现是中性影响。我们的目标是在第三季度采取行动，以便2022年价格和利润率行动的结转收益完全抵消了结转通胀。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PNR\">Pentair PLC</a></b> <b>(Industrials):</b>&nbsp;“Regarding the current inflationary environment, we have implemented further price increases and we expect the price cost gap to further narrow in the second half.”... “Consistent with our guidance, the second quarter did not see price fully offset inflation as we saw higher inflation that we have continued to implement price increases to help offset. The second half should see price costs start to even out. But an unprecedented amount of material and wage inflation coupled with robust demand has contributed to price reading out at a slower pace. Our forecast reflects our expectations that material shortages and inflation are not going away nor will they improve materially.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PNR\">滨特尔公司</a></b><b>（工业）：</b>“对于当前的通胀环境，我们已经实施了进一步的涨价，我们预计下半年价格成本差距将进一步缩小。”……“与我们的指导一致，第二季度价格并未完全抵消通胀，因为我们看到通胀上升，我们继续实施提价来帮助抵消通胀。下半年价格成本应该会开始趋于平稳。但前所未有的材料和工资通胀加上强劲的需求导致价格读数放缓。我们的预测反映了我们的预期，即材料短缺和通货膨胀不会消失，也不会实质性改善。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/FTV\">Fortive</a></b> <b>(Industrials)</b>: “Even though we are seeing a little bit of cost inflation, we're still going to be net – significantly net in a good shape relative to material cost reductions for the year. So material cost reductions will still be a profit improver for the year, even though we've seen a little bit more inflation than typical, we still are in a very good shape relative to price cost, not only because of price, but also because we've done a nice job on the cost reduction side as well.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/FTV\">Fortive</a></b><b>（工业）</b>：“尽管我们看到了一点成本上涨，但相对于今年的材料成本降低，我们仍将保持净-显着净状况良好。因此，材料成本降低仍将是利润的改善尽管我们看到的通货膨胀比平时略高，但相对于价格成本，我们仍然处于非常好的状态，这不仅是因为价格，还因为我们在成本降低方面也做得很好。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CL\">Colgate-Palmolive</a></b> <b>(Staples):</b>&nbsp;“We expect raw material costs to remain elevated throughout 2021, but we do expect some sequential lessening of inflation as we get into the fourth quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CL\">高露洁棕榄</a></b><b>（订书钉）：</b>“我们预计2021年原材料成本将保持在高位，但我们确实预计随着进入第四季度，通胀将出现一定程度的环比下降。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/JCI\">Johnson Controls</a></b> <b>(Industrials):</b>&nbsp;“Although lead times and conversion cycles are stretching, we believe conditions will begin to improve over the next couple of quarters. We are successfully leveraging our pricing capabilities to offset inflation, and we still expect to remain price cost positive for the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/JCI\">江森自控</a></b><b>（工业）：</b>“尽管交货时间和转换周期正在延长，但我们相信情况将在未来几个季度开始改善。我们正在成功地利用我们的定价能力来抵消通货膨胀，我们仍然预计今年的价格成本将保持正值。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/UPS\">United Parcel Service Inc</a></b> <b>(Industrials):</b>&nbsp;“We know what happens in an inflationary environment, don't we? Somebody pays for it. It's usually the consumer, which means, right, that price increases get passed along all the way to the end to the consumer until the consumer says, ouch, I'm not going to buy any more. The consumer continues to buy. So there we are in the cycle, and this is a cycle, right. This is a cycle.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/UPS\">联合包裹服务公司</a></b><b>（工业）：</b>“我们知道在通货膨胀环境下会发生什么，不是吗？有人为此买单。通常是消费者，这意味着，对，价格上涨一直传递到消费者身上，直到消费者说，哎哟，我不打算再买了。消费者继续购买。所以我们在循环中，这是一个循环，对吧。这是一个循环。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PKG\">Packaging Corp of America</a></b> <b>(Materials):</b>&nbsp;“These items were partially offset by higher operating costs of $0.57, primarily due to inflation-related increases in the areas of labor infringes, repairs, materials and supplies, recycled fiber cost, as well as other indirect and fixed cost areas Inflation associated with most of the operating costs as well as freight and logistics expenses is expected to continue.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PKG\">美国包装公司</a></b><b>（材料）：</b>“这些项目被0.57美元较高的运营成本部分抵消，这主要是由于劳工侵权、维修、材料和供应、再生纤维成本以及其他间接和固定成本领域的通货膨胀相关增加与大多数运营成本以及货运和物流费用预计将继续。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/GLW\">Corning</a> </b><b>(Tech):</b>&nbsp;“Now during the quarter, we continue to face supply chain disruptions and inflationary headwinds. Planning and increased output allowed us to reduce costly airfreight, but the sequential improvement was offset by increases in shipping rates and the cost of certain raw materials such as resin, a key component in our Optical and Life Sciences businesses. […] So right now, we're clearly facing a lot of supply chain disruptions and inflationary pressure. And what we saw in the first quarter was, of course, a lot of that relative to freight and logistics. We had plans to mitigate that. We actually did those mitigations. But then there were other things that occurred, particularly around increased resin cost. So as we think about the guide, in particular the guide for the third quarter, we thought it was prudent to assume that, that 150 basis points drag that's coming from those inflationary and supply chain logistics costs would continue.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/GLW\">康宁</a></b><b>（技术）：</b>“现在在本季度，我们继续面临供应链中断和通胀阻力。规划和产量增加使我们能够减少昂贵的空运，但连续的改善被运费和树脂等某些原材料成本的上涨所抵消，树脂是我们光学和生命科学业务的关键组成部分。[…]所以现在，我们显然面临着很多供应链中断和通胀压力。当然，我们在第一季度看到的大部分是与货运和物流相关的。我们有计划来缓解这种情况。我们实际上做了这些缓解措施。但随后还发生了其他事情，特别是树脂成本增加。因此，当我们考虑该指南，特别是第三季度的指南时，我们认为谨慎的假设是，通胀和供应链物流成本带来的150个基点的拖累将持续下去。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IR\">Ingersoll Rand Inc.</a> </b><b>(Industrials):</b>&nbsp;“Since the end of Q1 of 2021 of this year, we have seen inflation and we call inflation here direct material and logistics, continue to increase, which is the reason why we acted on additional pricing actions. I'll say those pricing actions are offsetting the incremental inflation that we're expecting to see in the second half.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/IR\">英格索兰公司。</a></b><b>（工业）：</b>“自今年2021年第一季度末以来，我们看到通货膨胀，我们在这里直接材料和物流的看涨期权通货膨胀继续增加，这就是我们采取额外定价行动的原因。我会说这些定价行动正在抵消我们预计下半年看到的增量通胀。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/HIG\">Hartford</a></b> <b>(Financials):</b>&nbsp;“As we listen to inflationary expectations, we expect some of those trends will be with us into the third quarter, fourth quarter. But I think that given our trends, our expectations to the year haven't changed materially and we're on top of our selections and I think we're in good shape as we move into Q3.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/HIG\">哈特福德</a></b><b>（财务）：</b>“当我们听取通胀预期时，我们预计其中一些趋势将伴随我们进入第三季度、第四季度。但我认为，考虑到我们的趋势，我们对今年的预期没有重大变化，我们处于领先地位在我们的选择中，我认为我们在进入第三季度时状况良好。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PHM\">PulteGroup</a></b> <b>(Consumer Discretionary):</b>&nbsp;“As reflected in the increases in our sales prices and gross margin, we've been able to pass on the meaningful cost inflation we have incurred over the course of the year. At this point, we now expect house costs to be up between 9% and 11% for the full year with the peak of certain costs, driven by lumber flowing through in the third and fourth quarters. Even with the ongoing rise in build costs, we still see opportunity for gross margins to move higher over the remaining two quarters of the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PHM\">普尔特集团</a></b><b>（非必需消费品）：</b>“正如我们销售价格和毛利率的上涨所反映的那样，我们已经能够转嫁这一年中发生的有意义的成本通胀。目前，我们现在预计房屋成本将上涨9%至11%，在第三和第四季度木材流动的推动下，某些成本将达到峰值。即使建造成本持续上升，我们仍然看到今年剩余两个季度毛利率有机会走高。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/BSX\">Boston Scientific</a> </b><b>(Health Care):</b>&nbsp;“[We] expect slight improvements in second half gross margin compared to the first half, though still not at full year 2019 levels, as other headwinds remain, in particular, the lingering cost of running plants with COVID-specific measures, as well as some impact from inflation.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/BSX\">波士顿科学公司</a></b><b>（保健）：</b>“[我们]预计下半年毛利率将比上半年略有改善，但仍未达到2019年全年水平，因为其他不利因素仍然存在，特别是采取新冠疫情特定措施运营工厂的成本挥之不去，以及通货膨胀的一些影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/HAS\">Hasbro</a> </b><b><b>(</b></b><b>Consumer Discretionary):</b>&nbsp;“We talked earlier about ocean freight in some of our prepared remarks and we're seeing those costs are over four times higher than what we had been experiencing earlier or last year even. So, we expect a lot of those costs to continue. But between cost of sales and that, we do expect our gross margin to be slightly down from a year ago, but we do expect the price increases that we've taken to offset our increased costs”</p><p><blockquote><b><a href=\"https://laohu8.com/S/HAS\">孩之宝</a></b><b><b>(</b></b><b>非必需消费品）：</b>“我们早些时候在一些准备好的发言中谈到了海运，我们看到这些成本比我们早些时候甚至去年经历的成本高出四倍多。因此，我们预计其中很多成本将持续下去。但在销售成本与此之间，我们确实预计我们的毛利率将比一年前略有下降，但我们确实预计我们采取的价格上涨将抵消成本的增加”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/GE\">General Electric Co</a></b> <b>(Industrials):</b>&nbsp;“Looking forward to the second half of 2021 and into 2022, although inflation pressure is likely to increase particularly in Aviation and Renewables, we expect the net inflation impact to be limited.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/GE\">通用电气公司</a></b><b>（工业）：</b>“展望2021年下半年和2022年，尽管通胀压力可能会增加，尤其是在航空和可再生能源领域，但我们预计净通胀影响有限。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/OTIS\">Otis Worldwide Corp</a></b> <b>(Industrials):</b>&nbsp;“This high inflationary environment that we're seeing should help us on Service pricing because most of our contracts in Europe and Americas have price escalators kind of built-in that are largely tied to labor inflation. And, historically, we've always had that lever but given low inflationary environment in the macro market, the prices don't always stick. And now, with this inflationary environment, we should have a greater ability to stick those prices, so that should help next year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/OTIS\">奥的斯全球公司</a></b><b>（工业）：</b>“我们看到的高通胀环境应该有助于我们的服务定价，因为我们在欧洲和美洲的大多数合同都内置了价格自动扶梯，这些自动扶梯在很大程度上与劳动力通胀挂钩。而且，从历史上看，我们一直都有这个杠杆，但考虑到宏观市场的低通胀环境，价格并不总是稳定。现在，在这种通胀环境下，我们应该有更大的能力来维持这些价格，这样明年应该会有所帮助。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/HON\">Honeywell</a></b> <b>(Industrials):</b>&nbsp;“so everywhere in our books of business that we can, we continue to pass through the inflation that's being seen in the materials and also in the labor because in the projects businesses, labor is also important as well.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/HON\">霍尼韦尔</a></b><b>（工业）：</b>“因此，在我们的业务账簿中，我们尽可能地继续应对材料和劳动力中出现的通货膨胀，因为在项目业务中，劳动力也很重要。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SLB\">Schlumberger</a></b> <b>(Energy):</b>&nbsp;“But I believe that the tool box we have and the professional and very experienced organization we have in our planning and supply chain and manufacturing organization that are used to manage some inflationary pressure has allowed us to mitigate and edged this inflationary pressure and contain cost inflation […] under our roofs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SLB\">斯伦贝谢</a></b><b>（能量）：</b>“但我相信，我们拥有的工具箱以及我们在规划、供应链和制造组织中拥有的用于管理一些通胀压力的专业且经验丰富的组织，使我们能够减轻和缓解这种通胀压力并控制成本通货膨胀[……]在我们的屋檐下。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/CE\">Celanese</a></b> <b>(Materials):</b>&nbsp;“But we did raise price more than we saw our materials increasing. And I think that's a question of mix. I mean what – we are in a very tight supply constrained situation. So we have been prioritizing our higher margin products and our higher market –higher margin region to really maximize the return that we get for the molecules thatwe have available to sell to the market.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CE\">塞拉尼斯</a></b><b>（材料）：</b>“但我们提高价格的幅度确实超过了材料的增幅。我认为这是一个组合问题。我的意思是——我们正处于供应非常紧张的情况。因此，我们一直在优先考虑利润率更高的产品和更高的市场——利润率更高的地区，以真正最大化我们可出售给市场的分子的回报。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/ADM\">Archer-Daniels Midland</a> </b><b>(Materials):</b>&nbsp;“In our scenario, margins normalize, we have inflation and then we are able to offset a lot of that through growth and through productivity.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ADM\">阿彻-丹尼尔斯米德兰</a></b><b>（材料）：</b>“在我们的情况下，利润率正常化，我们会出现通货膨胀，然后我们能够通过增长和生产力来抵消大部分通货膨胀。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/INTC\">Intel</a></b> <b>(Tech):</b>&nbsp;“Since April, we have seen supply chain inflation happening faster than we are electing to pass through to our customers, further impacting our second half gross margin outlook.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/INTC\">英特尔</a></b><b>（技术）：</b>“自四月份以来，我们看到供应链通胀的发生速度快于我们选择传递给客户的速度，这进一步影响了我们下半年的毛利率前景。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a> </b><b><b>(</b></b><b>Industrials):</b>&nbsp;“We are mindful of the tight job market, as well as general inflationary pressures. We expect to have wage rate inflation beyond our normal annual wage rate increases, as we want to be competitive to retain and attract talent, including the decision to increase the minimum hourly wage to $15 per hour across all workgroups, we now estimate, $5 million to $10 million of additional salary, wages, and benefits cost pressure in third quarter and approximately $15 million in fourth quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/LUV\">西南航空</a></b><b><b>(</b></b><b>工业）：</b>“我们注意到就业市场紧张以及总体通胀压力。我们预计工资率通胀将超过正常的年度工资率涨幅，因为我们希望保持竞争力以留住和吸引人才，包括决定提高最低工资我们现在估计，所有工作组的每小时工资为每小时15美元，第三季度的额外工资、工资和福利成本压力为500万至1000万美元，第四季度约为1500万美元。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/GPC\">Genuine Parts</a> </b><b>(Consumer Discretionary):</b>&nbsp;“In the second quarter, there was significant pricing activity with our suppliers resulting in product cost inflation. We were positioned to pass these increases on to our customers and the impact of price inflation was neutral to gross margin. We estimate a 1.5% impact of inflation in automotive sales for the quarter and a 1% impact in industrial. Based on the current environment, we expect this to increase further through the second half of the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/GPC\">正品零件</a></b><b>（非必需消费品）：</b>“第二季度，我们的供应商进行了大量的定价活动，导致产品成本上涨。我们准备将这些上涨转嫁给我们的客户，价格上涨对毛利率的影响是中性的。我们估计通胀对本季度汽车销售的影响为1.5%，对工业的影响为1%。根据目前的环境，我们预计下半年这一数字将进一步增加。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NUE\">Nucor</a> </b><b>(Materials):</b>&nbsp;“So we'll see some price inflation that will cause working capital to go up further, but probably not at the same pace as we experienced in Q2.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/NUE\">纽科尔</a></b><b>（材料）：</b>“因此，我们将看到一些价格上涨，这将导致营运资本进一步上升，但可能不会像我们在第二季度经历的那样。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/POOL\">Pool</a> </b><b>(Consumer Discretionary):</b>&nbsp;“Inflation, as we have previously mentioned, has been above average this year and is trending to 5% to 6% for the year in total. This has had no meaningful impact on demand and has passed through the channel as is typically the case.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/POOL\">水池</a></b><b>（非必需消费品）：</b>“正如我们之前提到的，今年的通胀率高于平均水平，全年总体趋势为5%至6%。这对需求没有产生有意义的影响，并且像通常情况一样通过了渠道。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NEM\">Newmont Mining</a> </b><b><b>(</b></b><b>Materials):</b>&nbsp;“The impacts of the pandemic are also driving cost inflation around the globe. We are now expecting cost escalation of around 3% to 5% for materials, energy and labor. And we expect these pressures to continue through until at least the end of next year.</p><p><blockquote><b><a href=\"https://laohu8.com/S/NEM\">纽蒙特矿业公司</a></b><b><b>(</b></b><b>材料）：</b>“疫情的影响也在推动全球成本通胀。我们现在预计材料、能源和劳动力的成本将上涨约3%至5%。我们预计这些压力至少会持续到明年年底。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/FCX\">Freeport-McMoRan</a></b> <b>(Materials):</b>&nbsp;“Everyone is focused on inflation around the world and the impact on mining companies. And as Kathleen said, we've had higher energy costs, higher grinding material cost, but Josh Olmsted and our Americas team has just done a great job in helping offset that.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/FCX\">自由港-麦克莫兰</a></b><b>（材料）：</b>“每个人都在关注世界各地的通货膨胀及其对矿业公司的影响。正如凯瑟琳所说，我们的能源成本更高，研磨材料成本更高，但乔什·奥姆斯特德和我们的美洲团队在帮助抵消这一点方面做得很好。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/UNP\">Union Pacific</a> </b><b><b>(</b></b><b>Industrials):</b>&nbsp;“And as we experience a strong demand environment, our pricing actions continue to yield dollars in excess of inflation.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/UNP\">联合太平洋</a></b><b><b>(</b></b><b>工业）：</b>“当我们经历强劲的需求环境时，我们的定价行为继续产生超过通胀的美元收益。”</blockquote></p><p> <a href=\"https://laohu8.com/S/DGX\">Quest Diagnostics</a> (Health Care): “So there's nothing extraordinary in the back half of the year in terms of labor inflation.”</p><p><blockquote><a href=\"https://laohu8.com/S/DGX\">Quest诊断</a>（医疗保健）：“所以下半年劳动力通胀没有什么异常。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MMC\">Marsh &amp; McLennan</a> </b><b>(Financials):</b>&nbsp;“The pace of price increases continued to moderate, but still remains high, reflecting elevated loss activity and concerns about inflation and low interest rates.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/MMC\">马什-麦克伦南律师事务所</a></b><b>（财务）：</b>“价格上涨步伐继续放缓，但仍然居高不下，反映出损失活动增加以及对通胀和低利率的担忧。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/ALLE\">Allegion PLC</a></b> <b>(Industrials):</b>&nbsp;“Allegion is not immune to inflation and the supply chain constraints impacting industrial markets. Allegion navigated well during Q2, but these industry-wide constraints will persist for the remainder of the year and put pressure on margins for the short-term.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ALLE\">Allegion PLC</a></b><b>（工业）：</b>“Allegion也不能幸免于通货膨胀和影响工业市场的供应链限制。Allegion在第二季度表现良好，但这些全行业的限制将在今年剩余时间内持续存在，并在短期内给利润率带来压力。”</blockquote></p><p> “We've seen an acceleration of inflation, predominantly in commodity costs, material components, freight, packaging, et cetera. It's continued to be a headwind. As you know, we're pretty aggressive moving on price and we're taking similar actions in the back half of this year. We've went ahead and announced a price increase that will take effect at the beginning of Q4. So, there's going to be some margin pressure, I would say, given the acceleration in inflation particularly in Q3.”</p><p><blockquote>“我们看到通货膨胀加速，主要是在商品成本、材料组件、运费、包装等方面。这仍然是一个阻力。如您所知，我们在价格方面非常积极，我们正在采取类似的行动今年下半年。我们已经宣布涨价，将于第四季度初生效。因此，我想说，考虑到通胀加速，尤其是在第三季度，将会存在一些利润率压力。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/WHR\">Whirlpool</a> </b><b><b>(</b></b><b>Consumer Discretionary): “</b>Structural cost takeout actions, higher volumes and ongoing cost productivity initiatives delivered 550 basis points of net cost margin improvement. These margin benefits were partially offset by raw material inflation, particularly steel and resins, which resulted in an unfavorable impact of 400 basis points.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/WHR\">漩涡</a></b><b><b>(</b></b><b>非必需消费品）：”</b>结构性成本削减行动、更高的产量和持续的成本生产率举措使净成本利润率提高了550个基点。这些利润率收益被原材料通胀部分抵消，特别是钢铁和树脂，这导致了400个基点的不利影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CSX\">CSX Corp</a></b> <b>(Industrials):</b>&nbsp;“The good news is we have secured adequate inventory and supply commitments for critical materials, and we've worked to lock in the vast majority of unit costs for 2021. Excluding locomotive fuel, expense inflation this quarter was just above 3% and we don't expect that to move much going into the second half.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CSX\">CSX公司</a></b><b>（工业）：</b>“好消息是，我们已经为关键材料获得了足够的库存和供应承诺，并且我们努力锁定2021年的绝大多数单位成本。不包括机车燃料，本季度的费用通胀率略高于3%，我们预计下半年不会有太大影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NTRS\">Northern</a> </b><b><b>(</b></b><b>Financials):</b>&nbsp;“Inflation is showing up in different areas. I mean every firm is dealing with talent issues and the pressure is there. We certainly see that and experience it and talking at management levels about how to address it. And the inflation we see across the business and different areas as well. And some of it is unit costs but some of it is just the increased cost of doing business. And we talked about the significant increase in technology oriented expenses that we're having. In some ways that's an inflation cost on the business. It's not just a unit price inflation but it's inflation in the overall cost of doing business. So, it's showing up in different ways across the organization.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/NTRS\">北方的</a></b><b><b>(</b></b><b>财务）：</b>“通货膨胀正在不同领域出现。我的意思是，每家公司都在处理人才问题，压力也是存在的。我们当然看到了这一点，经历了这一点，并在管理层讨论如何解决这一问题。我们在整个业务和不同领域都看到了通货膨胀。其中一些是单位成本，但另一些只是做生意的成本增加。我们还谈到了面向技术的费用的显着增加。在某些方面，这是企业的通货膨胀成本。这不仅仅是单价通胀，而是总体营商成本的通胀。因此，它在整个组织中以不同的方式表现出来。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/BKR\">Baker Hughes</a> </b><b>(Energy):</b>&nbsp;“Although we have moved quickly to pass inflation on to our customers, there is a timing lag relative to the increase in costs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/BKR\">贝克休斯</a></b><b>（能量）：</b>“尽管我们迅速采取行动将通胀转嫁给客户，但相对于成本的增加，存在时间滞后。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a> </b><b>(Health Care):</b>&nbsp;“We continue to expect in the back half of the year pressure in parts of our portfolio in terms of commodity inflation and distribution cost. We are prepared to absorb those.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/JNJ\">强生公司</a></b><b>（保健）：</b>“我们继续预计，今年下半年，我们的部分投资组合将面临大宗商品通胀和分销成本方面的压力。我们已准备好吸收这些压力。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CMG\">Chipotle Mexican Grill</a> </b><b>(Consumer Discretionary):</b>&nbsp;“We anticipate these commodity headwinds will negatively impact the quarter by an additional 60 basis points to 80 basis points, essentially offsetting the benefit of menu price increases. This will result in food costs for Q3 being at or slightly above the percentage we saw in Q2. Over the next few quarters, we'll have greater visibility on how much of this inflation is permanent versus transitory, and we can take the appropriate actions as needed to help offset any lasting impacts.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CMG\">墨西哥烤肉店</a></b><b>（非必需消费品）：</b>“我们预计这些大宗商品不利因素将对本季度产生额外60个基点至80个基点的负面影响，基本上抵消了菜单价格上涨的好处。这将导致第三季度的食品成本达到或略高于我们在第二季度看到的百分比。在接下来的几个季度中，我们将更好地了解这种通货膨胀有多少是永久性的还是暂时性的，我们可以根据需要采取适当的行动来帮助抵消任何持久的影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/DOV\">Dover</a> </b><b><b>(</b></b><b>Industrials):</b>&nbsp;“What we underestimated was the total cost impacts of a strained logistics system and tight labor market that shows no signs of abating. This has had two knock-on effects on our results. First, the absolute cost of inbound and outbound freight were materially higher; and second and more important, the costs associated with production line stoppages due to lack of labor and components caused by transit time uncertainty and overall supply chain tightness.”... “I think that there is an interesting argument, and I would agree with it that to the extent that labor inflation is durable and that supply chains, the issues that we're having in supply chains will improve, but not dramatically. There's an argument to be made that the returns on automation are going to be better than they've been over the last five to six years. And I would agree with that.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/DOV\">多佛</a></b><b><b>(</b></b><b>工业）：</b>“我们低估了紧张的物流系统和紧张的劳动力市场对总成本的影响，这种影响没有减弱的迹象。这对我们的业绩产生了两个连锁反应。首先，入境和出境运费的绝对成本大幅提高；第二，也是更重要的是，由于运输时间不确定性和整体供应链紧张导致的劳动力和零部件缺乏而导致生产线停工的相关成本。”...“我认为有一个有趣的论点，我同意它，就劳动力通胀和供应链而言，我们在供应链中遇到的问题将会改善，但不会显着改善。有一个论点是自动化的回报将比过去五到六年更好。我同意这一点。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/KSU\">Kansas City Southern</a> </b><b>(Industrials):</b>&nbsp;“Core pricing and contract renewals were essentially in line with the first quarter, but we are clearly seeing inflationary pressures that will need to be addressed going forward. As we look into the back half of 2021, we would expect the auto chip shortage to continue to negatively impact our growth, with a strong bounce-back late in the year and into 2022 as auto demand continues to be extremely high and dealer inventories at all-time lows.”... “We've now got to step up in inflation. So, we need to kind of deal with that going forward because our long-term strategy has always been to price above the cost of inflation. But an interesting dynamic and even the fed looking at their long-term projections around inflation would suggest inflation is going to come back down in 2022. So, there are interesting discussions with customers to have and we're going to do our best to continue to make sure we cover cost increases in our business there.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/KSU\">堪萨斯城南部</a></b><b>（工业）：</b>“核心定价和合同续签与第一季度基本一致，但我们清楚地看到未来需要解决的通胀压力。展望2021年下半年，我们预计汽车芯片短缺将继续对我们的增长产生负面影响，随着汽车需求继续极高且经销商库存处于历史低点，今年年底和2022年将出现强劲反弹。”……“我们现在必须加大通胀力度。因此，我们需要在未来应对这一问题，因为我们的长期策略一直是定价高于通胀成本。但一个有趣的动态，甚至美联储也关注他们对通胀的长期预测表明，通胀将在2022年回落。因此，我们将与客户进行有趣的讨论，我们将尽最大努力继续确保弥补那里业务的成本增加。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/PPG\">PPG Industries Inc</a></b> <b>(Materials):</b>&nbsp;“Due to supply disruptions, we experienced unprecedented levels of raw material and transportation costs that continually elevated as the quarter progressed. This drove raw material inflation to be up a mid to high-teen percentage on a year-over-year basis versus our original estimate of a high single-digit percentage increase.”... “Clearly this inflation cycle is much higher than anyone anticipated, and we're continuing on a business-by-business basis, working to secure further selling price increases. This includes executing additional pricing actions during the third quarter.”...“We now fully expect to offset raw material cost inflation in the fourth quarter on 2021 on a run rate basis.”...“But if we could get the overall base supply/demand (back in) balance, if you will, in our supply chain, I think prices would start to normalize somewhat. We don't see that happening in 2021. So right now, we're still anticipating significant inflation, when we said it's 20% in Q3 and we'll have a significant inflation in Q4. So for as far as we can currently look out, we're still looking at a pretty inflationary cycle.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PPG\">PPG工业公司</a></b><b>（材料）：</b>“由于供应中断，我们经历了前所未有的原材料和运输成本水平，随着本季度的进展，这些成本不断上升。这导致原材料通胀率同比上升了中到高10%的百分比，而我们最初估计的高个位数百分比增长。”...“显然，这个通胀周期远高于任何人的预期，我们将继续逐个企业地努力确保销售价格进一步上涨。这包括在第三季度执行额外的定价行动。”...“我们现在完全预计将在2021年第四季度抵消原材料成本通胀。”...“但如果我们能够在我们的供应链中实现整体基本供需平衡，如果你愿意的话，我认为价格将开始正常化。我们认为2021年不会发生这种情况。所以现在，我们仍然预计会出现显著的通胀，当时我们说第三季度为20%，第四季度将出现显著的通胀。因此，就我们目前所看到的而言，我们仍然面临着一个相当严重的通胀周期。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/FAST\">Fastenal</a> </b><b>(Industrials):</b>&nbsp;“Price actions to-date have largely matched cost increases. There's a ton of inflation going on. There's inflation because of disruption and shipping,”... “The marketplace is still receptive to price actions and the tools and processes we have developed have been effective. Even so, given the rate of inflation, maintaining price cost parity will be a bigger challenge in the third quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/FAST\">紧固件</a></b><b>（工业）：</b>“迄今为止的价格走势在很大程度上与成本上涨相匹配。有大量的通货膨胀正在发生。通货膨胀是因为中断和运输，”...“市场仍然接受价格行为，我们开发的工具和流程是有效的。即便如此，考虑到通胀率，维持价格成本平价将是第三季度更大的挑战。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CAG\">ConAgra</a> </b><b><b>(</b></b><b>Staples):</b>&nbsp;“We expect the negative impact of the cost inflation to hit our financials before the beneficial impact of our responsive actions, including our pricing. This timing mismatch is expected to be particularly impactful in (fiscal) H1 and, more specifically, in (fiscal) Q1. The resulting pressure on our first half margins impact our full year profit […] Although the substantial increase in inflation over the last few months has negatively impacted our profit guidance for the (fiscal) year, we remain confident in the underlying strength of the business. […] Importantly, we expect that the impact of our aggressive mitigating actions will cause second half adjusted EPS to rebound, to be in line with what was assumed for (fiscal) H2 within our prior guidance.”... “When we initially gave our fiscal 2022 targets at our Investor Day in April of 2019, our models assumed an annual inflation rate of around 3%. At the time of our third quarter call, in April of 2021, we expected fiscal 2022 inflation to come in at twice that level around 6% […] We now currently expect fiscal 2022 inflation to come in around 9%. The difference between the 6% we expected a few months ago and the 9% we expect today equates to approximately $255 million in additional costs during fiscal 2022.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CAG\">康尼格拉</a></b><b><b>(</b></b><b>订书钉）：</b>“我们预计成本通胀的负面影响将在我们的应对行动（包括我们的定价）产生有益影响之前对我们的财务状况产生影响。这种时间错配预计将在（财政）上半年，更具体地说，在（财政）第一季度。由此产生的上半年利润率压力影响了我们的全年利润[……]尽管过去几个月通胀的大幅上升对我们本财年的利润指引产生了负面影响，但我们仍然对业务的基本实力充满信心。[…]重要的是，我们预计我们积极的缓解行动的影响将导致下半年调整后的每股收益反弹，与我们之前指导中对（财政）H2的假设一致。”...“当我们最初在2019年4月的投资者日给出2022财年目标时，我们的模型假设年通胀率约为3%。在2021年4月发布第三季度看涨期权时，我们预计2022财年通胀率将达到该水平的两倍，约为6%[……]我们目前预计2022财年通胀率将达到9%左右。我们几个月前预期的6%与今天预期的9%之间的差异相当于2022财年约2.55亿美元的额外成本。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> </b><b>(Financials):</b>&nbsp;“In terms of inflation, I would say that we're not seeing inflation in our actuals. But obviously, your guess is as good as mine in terms of the future. But it would be reasonable to assume that that's going to be a little bit of a challenge... it won't make any difference as long as you have that strong growth in consumer there. Jobs are plentiful; wages are going up. These are all good things. And so, obviously, inflation could be worse than people think. I think it'll be a little bit worse than what the Fed thinks. I don't think it's all going to be temporary. But that doesn't matter if we have very strong growth.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a></b><b>（财务）：</b>“就通货膨胀而言，我想说我们的实际情况并没有看到通货膨胀。但显然，就未来而言，你的猜测和我的一样好。但可以合理地假设这将是一个小小的挑战……只要那里的消费者有如此强劲的增长，就不会有任何影响。就业机会充足；工资在上涨。这些都是好东西。因此，显然，通货膨胀可能比人们想象的更严重。我认为情况会比美联储想象的要糟糕一点。我不认为这一切都是暂时的。但如果我们有非常强劲的增长，这并不重要。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MKC\">McCormick</a> </b><b>(Staples):</b>&nbsp;“We're seeing broad-based inflation across our various commodities, packaging materials and transportation costs. To offset rising costs, we are raising prices where appropriate, but usually there is a lag time associated with pricing, particularly with how quickly costs are escalating. And therefore, most of our actions won't go into effect until late 2021.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/MKC\">麦考密克</a></b><b>（订书钉）：</b>“我们看到各种商品、包装材料和运输成本出现了广泛的通胀。为了抵消成本上升，我们会在适当的时候提高价格，但通常定价会有一个滞后时间，特别是成本上升的速度。因此，我们的大部分行动要到2021年底才会生效。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PEP\">Pepsi</a></b> <b>(Staples):</b>&nbsp;“We're seeing inflation in our business across many of our raw ingredients and some of our inputs in labor and freight and everything else. So, we operate in the same context. We feel quite comfortable or confident that through a combination of net revenue management initiatives and increased productivity, we can navigate this.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PEP\">百事可乐</a></b><b>（订书钉）：</b>“我们看到我们的业务在许多原材料以及劳动力、货运和其他一切方面的一些投入方面都出现了通货膨胀。因此，我们在相同的背景下运营。我们感到非常舒服或有信心，通过净收入管理举措和提高生产力的结合，我们可以应对这一问题。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CTAS\">Cintas</a> </b><b><b>(I</b></b><b>ndustrials):</b>&nbsp;“While some inflationary pressures increased certain costs, these were more than offset by increased revenue from businesses reopening or increasing capacity as COVID-19 case counts fell and restrictions on businesses were reduced.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CTAS\">带子</a></b><b><b>（我</b></b><b>工业）：</b>“虽然一些通胀压力增加了某些成本，但随着COVID-19病例数下降和对企业限制减少，企业重新开业或增加产能带来的收入增加足以抵消这些成本。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/ZION\">Zions</a> </b><b>(Financials):</b>&nbsp;“This outlook does not reflect a significant change in inflation from what we've observed over the past several years which we believe is an emerging and increasingly important risk to our outlook.”... “But there is no softening in the concerns about supply chain or concerns about inflation. Those concerns are real. They're certainly remaining steady, if not building, in terms of the minds of business owners.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ZION\">锡安</a></b><b>（财务）：</b>“与我们过去几年观察到的情况相比，这一前景并没有反映出通胀的重大变化，我们认为这对我们的前景来说是一个新兴且日益重要的风险。”...“但对供应链的担忧或对通胀的担忧并没有减弱。这些担忧是真实的。就企业主的想法而言，它们肯定会保持稳定，如果不是在增强的话。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SIVB\">SVB Financial Group</a> </b><b>(Financials):</b>&nbsp;“If we do see inflation, I actually think it's going to be modest, I don't think it's going to be something that would be a fundamental change that would cause the market to get overly spooked. But again, something to pay attention to, and that's just my own opinion.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SIVB\">SVB金融集团</a></b><b>（财务）：</b>“如果我们确实看到通胀，我实际上认为通胀将是温和的，我不认为这将是一个根本性的变化，会导致市场过度恐慌。但同样，需要注意的是，这只是我自己的看法。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/WRB\">WR Berkley</a> </b><b>(Financials): “</b>We continue to be very focused on inflation. From our perspective, inflation is very much here. There're some people that talked about it being this transient that may be true. I'm not quite sure when people talk about transient, well, how long is transient, regardless the costs of things are up today. But even if you saw inflation return to a 2.5% or 3% level, we continue to believe that the 10-year at 130% or less doesn't make a whole lot of sense for a long run.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/WRB\">WR伯克利</a></b><b>（财务）：“</b>我们继续非常关注通货膨胀。从我们的角度来看，通货膨胀非常严重。有些人说这是短暂的，这可能是真的。我不太确定当人们谈论瞬态时，嗯，瞬态有多长，不管今天东西的成本在上升。但即使你看到通胀率回到2.5%或3%的水平，我们仍然认为，从长远来看，130%或更低的10年期通胀率也没有多大意义。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/RHI\">Robert Half</a> </b><b>(Industrials):</b>&nbsp;“We're passing through the wage inflation that we're having and we've actually expanded our margin.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/RHI\">罗伯特·哈尔夫</a></b><b>（工业）：</b>“我们正在经历工资通胀，而且我们实际上扩大了利润率。”</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>Corporate Margins Set To Tumble As Companies Freak Out About Surge In \"Bad Inflation\"<blockquote>由于企业对“糟糕的通胀”激增感到恐慌，企业利润率将大幅下降</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\">\nCorporate Margins Set To Tumble As Companies Freak Out About Surge In \"Bad Inflation\"<blockquote>由于企业对“糟糕的通胀”激增感到恐慌，企业利润率将大幅下降</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-08-03 07:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>First the good news: according to Bank of America's earnings tracker, Q2 earnings season is already <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the strongest in history (as one would expect following trillions in fiscal and monetary stimulus and comping off the catastrophic Q2 of 2020 when covid shut down the economy), and following the busiest earnings week of 2Q, 296 S&amp;P 500 companies (76% of index earnings) have reported. 2Q EPS is now tracking a 13% beat or $51.12, topping BofA's estimate of $50 or an 11% beat; and far above the historical average since the start of earnings season.</p><p><blockquote>首先是好消息：根据美国银行的盈利追踪，第二季度财报季已经到来<a href=\"https://laohu8.com/S/AONE.U\">一</a>历史上最强劲的一周（正如人们所预期的那样，在数万亿美元的财政和货币刺激措施以及弥补2020年灾难性的Q2（当时covid关闭了经济）之后），在第二季度最繁忙的财报周之后，296家标普500公司（占指数收益的76%）已报告。第二季度每股收益目前增长13%，即51.12美元，高于美国银行预期的50美元，即11%；远高于财报季开始以来的历史平均水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0716a10a73647f8d7215368a92b625a\" tg-width=\"500\" tg-height=\"666\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> To avoid the skewed 2020 data and doing a two-year lookback, 2Q is now expected to be +83% YoY or +24% vs. 2Q19, vs. last quarter’s 25% 2-yr growth rate. Financials, Communication Services, and Consumer Discretionary led the EPS beat, while revenues are also coming in red hot and tracking a 3% beat, led by Energy.</p><p><blockquote>为了避免2020年数据失真并进行两年回顾，目前预计第二季度同比增长+83%，较2019年第二季度增长+24%，而上一季度的两年增长率为25%。金融、通信服务和非必需消费品引领每股收益增长，而收入也表现强劲，在能源引领下增长3%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/98d74a1ff25d94d2f21cb76c7a0feeb4\" tg-width=\"500\" tg-height=\"219\" referrerpolicy=\"no-referrer\">More importantly, the proportion of beats also remained strong: 83%/85%/74% of companies beat on EPS/sales/both, representing the best proportion of beats in history (since 2011).</p><p><blockquote>更重要的是，beats的比例也保持强劲：83%/85%/74%的公司在EPS/销售额/两者上都击败，代表了历史上（自2011年以来）最好的beats比例。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/52a434c5a68c9f21dc2194bf17ec5968\" tg-width=\"500\" tg-height=\"209\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Looking at the top line, analysts now expect 2Q sales to rise 21% YoY, vs. 14% YoY last quarter. Energy is expected to lead (+102%), while Financials are forecast to be the biggest drag (-4%). Here, BofA estimates that FX tailwinds thanks to a weaker dollar added about 3% to YoY sales growth (Exhibit 4), representing the biggest benefit since 2011. Excluding FX/oil impacts, constant-currency sales growth for the S&amp;P 500 ex. Fins. &amp; Energy is expected to be +15% YoY (Exhibit 5), accelerating from the 13% growth last quarter.</p><p><blockquote>从营收来看，分析师目前预计第二季度销售额将同比增长21%，而上季度同比增长14%。能源预计将领先（+102%），而金融预计将成为最大的拖累（-4%）。在这里，美国银行估计，美元疲软带来的外汇顺风使销售额同比增长约3%（图表4），这是自2011年以来的最大收益。排除外汇/石油影响，标普500 ex的固定汇率销售额增长。芬兰人。&amp;能源预计同比增长15%（图表5），较上季度13%的增长有所加快。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a083b38acb227f2d401ebf396c3c322\" tg-width=\"500\" tg-height=\"195\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> What is more surprising is that in a quarter when many predicted margins would be hit by surging input costs, not only was that not the case but&nbsp;<b>companies once again posted skyhigh margins, with 2Q net margins (ex-Financials) jumping to a new high at 13.0%, topping last quarter’s 12.5%.</b>&nbsp;This was consistent with BofA's Corporate Misery Indicator, which rose to a record high (“least miserable”) in 2Q, indicating&nbsp;<b>it was among the most favorable macro environment for corporate margins in history since 1978!</b></p><p><blockquote>更令人惊讶的是，在许多预测利润率将受到投入成本飙升打击的季度，情况不仅并非如此，而且<b>公司再次公布了天价利润率，第二季度净利润率（不包括财务）跃升至13.0%的新高，高于上季度的12.5%。</b>这与美国银行的企业痛苦指标一致，该指标在第二季度升至历史新高（“最不痛苦”），表明<b>这是自1978年以来历史上对企业利润率最有利的宏观环境之一！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/aaf7e16f03f8f1610b1948ada2c2ce75\" tg-width=\"500\" tg-height=\"259\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> How is this possible in a time when numerous commodity prices have hit never before seen levels? Simple: companies have experienced virtually no pushback to rising prices as most Americans can easily absorb the rampant inflation. Indeed, as IHS <a href=\"https://laohu8.com/S/MRKT\">Markit</a> Chief Economist Chris Williamsoncommented in todaythis is \"<b>perhaps the strongest sellers’ market that we’ve seen since the survey began in 2007</b>,<b>with suppliers hiking prices for inputs into factories at the steepest rate yet recorded and manufacturers able to raise their selling prices to an unprecedented extent, as both suppliers and producers often encounter little price resistance from customers.</b>\" It remains to be seen just how long such a \"seller's market\" will be the norm, although we expect it to reverse quite painfully once government handouts end.</p><p><blockquote>在众多大宗商品价格达到前所未有的水平之际，这怎么可能呢？很简单：公司几乎没有遇到价格上涨的阻力，因为大多数美国人可以轻松吸收猖獗的通货膨胀。事实上，作为IHS<a href=\"https://laohu8.com/S/MRKT\">Markit</a>首席经济学家克里斯·威廉姆森在《今日》中评论道：“<b>也许是自2007年调查开始以来我们看到的最强劲的卖方市场</b>,<b>供应商以有史以来最快的速度提高工厂投入品的价格，制造商能够将销售价格提高到前所未有的程度，因为供应商和生产商通常很少遇到客户的价格阻力。</b>“这种‘卖方市场’将成为常态多久还有待观察，尽管我们预计一旦政府施舍结束，这种情况将会非常痛苦地逆转。</blockquote></p><p> In any case, that was the good news:&nbsp;<b>now the bad</b>and that was summarized best by BofA's Savita Subramanian who wrote that&nbsp;<b>\"we are starting to see the good inflation environment turning into a bad inflation environment with many companies citing accelerating cost inflation, particularly around wages.\"</b></p><p><blockquote>无论如何，这是个好消息：<b>现在坏的</b>美国银行的Savita Subramanian对此做了最好的总结，她写道<b>“我们开始看到良好的通胀环境变成了糟糕的通胀环境，许多公司都提到成本通胀加速，尤其是在工资方面。”</b></blockquote></p><p> Indeed, as shown in the chart above, consensus margin expectations for 2H reflect this risk, with margins forecast to moderate to 12.6 % in 3Q and 12.5% in 4Q. But if cost pressure continues to accelerate, we could see more downside risk in 2H margins.</p><p><blockquote>事实上，如上图所示，下半年的普遍利润率预期反映了这种风险，预计第三季度利润率将放缓至12.6%，第四季度将放缓至12.5%。但如果成本压力继续加速，我们可能会看到下半年利润率面临更多下行风险。</blockquote></p><p> And nobody captures this risk better than companies themselves: according to word counts of corporate earnings transcripts by BofA's Predictive Analytics team, mentions of “inflation” on 2Q earnings calls topped 1Q levels and jumped to a record high, based on BofA's Predictive Analytics team’s analysis.&nbsp;<b>On a YoY basis, inflation mentions rose nearly 1100% YoY, outpacing the 900% increase we saw last quarter.</b></p><p><blockquote>没有人比公司本身更能捕捉到这一风险：根据美国银行预测分析团队对企业盈利记录的字数统计，根据美国银行预测分析团队的分析，第二季度盈利评级中提及“通胀”的次数超过了第一季度的水平，跃升至历史新高。<b>与去年同期相比，通胀提及量同比增长近1100%，超过了上季度900%的增幅。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/42b5b77e1ca11db2481ecccefbc904da\" tg-width=\"500\" tg-height=\"380\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p> Notably, labor-related mentions - i.e., discussion of rising wages - rose the most among inflation categories BofA tracks in 2Q, up 155% YoY. This compares to last quarter when labor-related mentions rose the least (+12% YoY), pointing to soaring wage pressure, and is why BofA remains cautious on labor-intensive Consumer Discretionary and Industrials.</p><p><blockquote>值得注意的是，与劳工相关的提及（即讨论工资上涨）在美国银行第二季度追踪的通胀类别中涨幅最大，同比增长155%。相比之下，上个季度与劳动力相关的提及量增幅最小（同比+12%），表明工资压力飙升，这也是美国银行对劳动密集型非必需消费品和工业行业保持谨慎的原因。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9235c28e23278de9e719e21da1cf0a78\" tg-width=\"500\" tg-height=\"379\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Meanwhile, supply-chain related mentions also more than doubled YoY (+106% vs. +17% YoY in 1Q). Both supply chain and labor related mentions rose to record highs in BofA data history since 2004.</p><p><blockquote>与此同时，供应链相关的提及量也同比增长了一倍多（第一季度同比增长106%，而第一季度同比增长17%）。自2004年以来，供应链和劳动力相关的提及均升至美国银行数据历史新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6e01d32803023d4595f677af9258eddb\" tg-width=\"500\" tg-height=\"234\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> And before we dig through the actual earnings transcripts, we leave the most ominous finding for last: using earnings calls transcripts, BofA calculated sentiment for S&amp;P500 companies that have reported this earnings season (it used Loughran McDonald's financial dictionary to calculate sentiment scores.) Overall, BofA found that corporate sentiment dipped from a record high, indicating peak corporate sentiment amid inflation concerns and rising cases of the Delta variant.</p><p><blockquote>在我们深入研究实际盈利记录之前，我们将最不祥的发现留到最后：美国银行使用评级盈利记录计算了已报告本财报季的标准普尔500指数公司的情绪（它使用Loughran McDonald’s financial dictionary来计算情绪得分。）总体而言，美国银行发现企业情绪从历史高位下降，表明在通胀担忧和Delta变体病例增加的情况下，企业情绪达到顶峰。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1fc45084868c36d4b2e90838ee476b4e\" tg-width=\"500\" tg-height=\"185\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Similarly, companies mentions of business condition (ratio of mentions of “better” or “stronger” vs. “worse” or “weaker”)&nbsp;<b>indicate weaker business conditions vs. the peak level last quarter</b>. Mentions of optimism also declined from the peak levels in the prior two quarters.</p><p><blockquote>同样，公司提及业务状况（提及“更好”或“更强”与“更差”或“更弱”的比率）<b>表明商业状况较上季度的峰值水平疲软</b>.乐观情绪的提及也较前两个季度的峰值水平有所下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d3ca73d0965ee396ac65e72bbcccaed3\" tg-width=\"500\" tg-height=\"218\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> To summarize: yes, Q2 earnings were a huge beat and margins were a record high... but it's all downhill from here as the \"bad inflation\" (to companies, and very good inflation to workers) is about to roll down the income statement, resulting in sharply lower margins and deteriorating earnings. And insiders know this well, which is why corporate sentiment has already rolled over and is down despite a true earnings bonanza, and is also why corporation optimism has moved sharply lower, a move which will accelerate to the downside as soon as margins are hit by surging wages and as soon companies can no longer pass through sharply higher input prices.</p><p><blockquote>总结：是的，第二季度盈利大幅增长，利润率创历史新高……但从这里开始，一切都在走下坡路，因为“糟糕的通货膨胀”（对公司来说，非常好的通货膨胀）即将压低损益表，导致利润率急剧下降和盈利恶化。内部人士很清楚这一点，这就是为什么尽管盈利确实丰厚，但企业情绪已经出现逆转并下降，也是为什么企业乐观情绪急剧下降，一旦利润率受到打击，这种趋势就会加速下行。工资飙升，一旦公司无法再承受大幅上涨的投入价格。</blockquote></p><p> <i>Finally, courtesy of BofA, here is a snapshot of what some of the most notable companies just said about inflation, bad or otherwise:</i></p><p><blockquote><i>最后，由美国银行提供，以下是一些最著名的公司刚刚对通货膨胀的看法，无论是坏的还是坏的：</i></blockquote></p><p> <b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a> </b><b>(Discretionary)</b>: “The other thing is wage pressure has become evident. We've talked about this a bit. The wage increase that we normally would do in October we pulled forward into May. We're spending a lot of money on signing and incentives. And while we have very good staffing levels, it's not without cost. It's a very competitive labor market out there and certainly the biggest contributor to inflationary pressures that we're seeing in the business.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/AMZN\">亚马逊</a></b><b>（酌情）</b>：“另一件事是工资压力变得很明显。我们已经讨论过这个问题了。我们通常在10月份进行的工资增长被提前到了5月份。我们在签约和激励上花了很多钱。虽然我们的人员配备水平非常好，但这并非没有成本。”这是一个竞争非常激烈的劳动力市场，当然也是我们在该行业看到的通胀压力的最大因素。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NWL\">Newell</a></b> <b>(Discretionary):</b>&nbsp;“We expect Q3 to be the peak quarter for inflation pressure, which will significantly weigh on the company's margin performance.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/NWL\">纽维尔</a></b><b>（酌情）：</b>“我们预计第三季度将是通胀压力的高峰季度，这将严重影响公司的利润率表现。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/ITW\">Illinois Tool</a> </b><b>(Industrials):</b>&nbsp;“We continue to expect price/cost impact to be EPS-neutral or better for the year. […] We continue to experience raw material cost increases, particularly in categories such as steel, resins and chemicals and now project raw material cost inflation at around 7% for the full year which is almost 5 percentage points higher than what we anticipated as the year began. And just for some perspective, this is roughly 2x what we experienced in the 2018 inflation/tariff cycle.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ITW\">伊利诺伊工具</a></b><b>（工业）：</b>“我们仍然预计今年的价格/成本影响对每股收益中性或更好。[……]我们继续经历原材料成本上涨，特别是在钢铁、树脂和化学品等类别，现在预计原材料成本通胀全年约为7%，比我们年初的预期高出近5个百分点。从某种角度来看，这大约是我们在2018年通胀/关税周期中经历的两倍。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CHD\">Church &amp; Dwight</a></b> <b>(Staples):</b>&nbsp;“We now expect full year gross margin to be down 75 basis points. This represents an incremental impact from our last guidance due to broad-based inflation on raw materials and transportation costs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CHD\">丘奇&amp;德怀特</a></b><b>（订书钉）：</b>“我们现在预计全年毛利率将下降75个基点。由于原材料和运输成本的广泛通胀，这代表了我们上次指引的增量影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IP\">International Paper</a> </b><b>(Materials):</b>&nbsp;“We do expect further input cost inflation in the third quarter with substantial pressure on OCC and transportation costs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/IP\">国际论文</a></b><b>（材料）：</b>“我们确实预计第三季度投入成本将进一步上涨，OCC和运输成本将面临巨大压力。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/HSY\">Hershey</a></b> <b>(Consumer Discretionary):</b>&nbsp;“In the second half of the year, we expect increased packaging and freight costs to continue. We also expect labor costs to remain elevated as higher levels of marketplace attrition contribute to more overtime and accelerated hiring to keep pace with demand. While we expect more price realization in the second half versus the first half, we also expect less sales volume benefits... And then in addition, I think labor rates in general and labor availability in general are a pressure point beyond just volume. The market for labor is challenging. And so just like everyone, we want to make sure we are staying ahead of the curve on hiring, making sure our value proposition at our plants is attractive. And packaging inflation similar, packaging inflation we touched on a little bit on the last call. It's still a pressure point. I think we're still optimistic we're going to see that moderate as we go forward, but we haven't seen it yet. And so, it is a combination of those transitory costs on the back of the higher volume and a few things that are a little bit [stickier] here as we look across the balance of the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/HSY\">赫尔希</a></b><b>（非必需消费品）：</b>“今年下半年，我们预计包装和货运成本将继续增加。我们还预计劳动力成本将保持在高位，因为更高水平的市场流失导致更多的加班和加速招聘以跟上需求。虽然我们预计下半年的价格实现比上半年更多，但我们也预计销量收益会减少...此外，我认为总体劳动力率和总体劳动力可用性是一个压力点，而不仅仅是数量。劳动力市场充满挑战。因此，就像每个人一样，我们希望确保我们在招聘方面保持领先地位，确保我们工厂的价值主张具有吸引力。包装通货膨胀类似，我们在上次看涨期权中稍微谈到了包装通货膨胀。仍然是一个压力点。我认为我们仍然乐观地认为，随着我们的前进，我们将看到这种温和，但我们还没有看到。因此，这是销量增加带来的暂时性成本以及当我们展望今年剩余时间时一些有点[粘性]的因素的结合。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TFX\">Teleflex</a></b> <b>(Health Care):</b>&nbsp;“Any inflation that we saw, we saw it begin last year in transportation. So, that was already in our run rate. And we saw some modest inflation in some of our resins, but it was pretty – it's very manageable, and we're going to more than offset it with really positive pricing and building momentum in the quarter with that positive pricing.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/TFX\">Teleflex</a></b><b>（保健）：</b>“我们看到的任何通货膨胀，我们都看到它始于去年的交通运输领域。所以，这已经在我们的运行率中了。我们看到我们的一些树脂出现了一些温和的通货膨胀，但这很好——这是非常可控的，我们将通过真正积极的定价来抵消它，并通过积极的定价在本季度建立势头。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/LKQ\">LKQ Corp</a> </b><b>(Consumer Discretionary):</b>&nbsp;“Across all of our segments, we are experiencing some level of supply chain shortages and disruptions. These disruptions are creating product scarcity and freight delays that are resulting in meaningful availability pressures in certain product lines. The supply chain challenges are also driving product inflation, which in turn, is generating the most robust pricing environment we've seen in years. Across all of our segments, we have been very effective in passing along these costs as witnessed by our margin performance. Alongside supply chain inflationary pressures, like many businesses across the globe, we are facing wage inflation and increased competition for labor.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/LKQ\">LKQ公司</a></b><b>（非必需消费品）：</b>“在我们所有的细分市场中，我们都在经历某种程度的供应链短缺和中断。这些中断正在造成产品短缺和货运延误，从而给某些产品线带来巨大的可用性压力。供应链挑战也在推动产品通胀，这反过来又创造了我们多年来所见过的最强劲的定价环境。在我们所有的细分市场中，我们在转嫁这些成本方面都非常有效，正如我们的利润率表现所证明的那样。除了供应链通胀压力之外，与全球许多企业一样，我们还面临着工资通胀和劳动力竞争加剧的问题。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MAS\">Masco</a></b> <b>(Industrials):</b>&nbsp;“We continue to see escalating inflation across most of our cost basket, including freight, resins, TiO2 and packaging. Inbound freight container costs nearly tripled during the quarter. We now expect our all-in cost inflation to be in the high single-digit range for the full year for both our Plumbing and Decorative segments, with low double-digit inflation in the second half of the year.</p><p><blockquote><b><a href=\"https://laohu8.com/S/MAS\">马斯科</a></b><b>（工业）：</b>“我们继续看到我们大部分成本篮子的通胀不断升级，包括货运、树脂、二氧化钛和包装。本季度入境货运集装箱成本几乎增加了两倍。我们现在预计我们的总成本通胀将处于高个位数水平我们的管道和装饰部门全年都在数字范围内，下半年通胀率将达到两位数。</blockquote></p><p> Inflation in coatings will likely be in the mid-teens later in the fourth quarter. To mitigate this inflation, we have secured price increases across both segments and are taking further pricing action across our business to address these continued cost escalations. We are also working with our suppliers, customers and internal teams to implement further productivity measures to help offset these costs. Despite the increased inflation, we still expect to achieve price/cost neutrality by year-end. While cost inflation has clearly been an issue, material availability has also impacted our business.”</p><p><blockquote>第四季度晚些时候，涂料的通胀率可能会在十几岁左右。为了缓解这种通货膨胀，我们已经确保了两个细分市场的价格上涨，并正在整个业务中采取进一步的定价行动，以解决这些持续的成本上涨问题。我们还与供应商、客户和内部团队合作，实施进一步的生产力措施，以帮助抵消这些成本。尽管通胀加剧，我们仍预计到年底将实现价格/成本中性。虽然成本上涨显然是一个问题，但材料可用性也影响了我们的业务。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/FBHS\">Fortune Brands Home &amp; Security</a> </b><b>(Industrials):</b>&nbsp;“While inflation headwinds were anticipated, they continued to strengthen throughout the quarter. As I mentioned earlier, we are taking incremental actions during the second half of the year to offset increased inflation. […]Through this combination of cost and thoughtful pricing actions, we plan to offset all inflationary headwinds this year and expect to deliver 2021 operating margin improvement.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/FBHS\">财富品牌家居与安全</a></b><b>（工业）：</b>“虽然通胀不利因素在意料之中，但它们在整个季度继续走强。正如我之前提到的，我们正在下半年采取增量行动来抵消通胀上升。[……]通过成本和深思熟虑的定价行动的结合，我们计划今年抵消所有通胀不利因素，并预计2021年营业利润率将有所改善。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AVY\">Avery Dennison</a> </b><b>(Materials):</b>&nbsp;“Given the increasing inflationary pressures, we are redoubling our efforts on material re-engineering and again raising prices. We are targeting to close the inflation gap relative to mid last year by the fourth quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/AVY\">艾利丹尼森</a></b><b>（材料）：</b>“鉴于通胀压力不断加大，我们正在加倍努力进行材料再造并再次提高价格。我们的目标是在第四季度之前缩小相对于去年年中的通胀差距。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IEX\">IDEX Corp</a> </b><b>(Industrials):</b>“We anticipated rising inflation as the global economy recovered, but like many, did not imagine the sharp rate of increase. This narrowed our spread between price capture and material costs, although we remain positive overall. Our teams leveraged the systematic investments we made a few years ago in pricing management and aggressively deployed two, sometimes three pricing adjustments with precision. We are on track to expand our price/cost spread to typical levels as we travel to the back half of the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/IEX\">IDEX公司</a></b><b>（工业）：</b>“随着全球经济复苏，我们预计通胀会上升，但像许多人一样，没有想到会出现如此急剧的增长率。这缩小了我们的价格捕获和材料成本之间的差距，尽管我们总体上仍然保持乐观。我们的团队利用了我们所做的系统投资几年前在定价管理方面，并积极部署了两次，有时是三次精确的定价调整。随着我们进入今年下半年，我们有望将价格/成本价差扩大到典型水平。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/ODFL\">Old Dominion Freight Lines</a> </b><b><b>(</b></b><b>Industrials):</b>&nbsp;“It's a tighter labor market than certainly we're used to. Of course, I've been here for a long time and I don't ever remember the growth percentages in the past that we've got today. So, it's definitely a bigger challenge than it's ever been.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ODFL\">老自治领货运公司</a></b><b><b>(</b></b><b>工业）：</b>“劳动力市场肯定比我们习惯的更加紧张。当然，我在这里已经很长时间了，我从来不记得过去的增长率有今天。所以，这绝对是一个比以往任何时候都更大的挑战。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MHK\">Mohawk</a> </b><b>(Consumer Discretionary):</b>&nbsp;“We anticipate material and freight challenges will continue to impact our business in the third quarter. To compensate for material inflation, we have increased prices and we expect further increases will be required as our costs continue to rise”</p><p><blockquote><b><a href=\"https://laohu8.com/S/MHK\">莫霍克</a></b><b>（非必需消费品）：</b>“我们预计材料和货运挑战将继续影响我们第三季度的业务。为了弥补材料通胀，我们提高了价格，并且随着成本持续上升，我们预计将需要进一步涨价”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MDLZ\">Mondelez</a> </b><b>(Staples):</b>&nbsp;“As we said many times, inflation and commodity costs are higher than we originally anticipated at the start of 2021, but we continue to believe that they are manageable. In terms of pricing and inflation, I would say there is going to be more in the second part of the year. To start with, our pipeline of commodities and FX has been advantageous in the first part of the year, and we expect some commodities and FX impact to be relatively higher in the second part. So there will be some more pressure in Q3 specifically, but we will continue to be very disciplined in terms of costs and pricing.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/MDLZ\">亿滋</a></b><b>（订书钉）：</b>“正如我们多次说过的那样，通胀和大宗商品成本高于我们在2021年初最初的预期，但我们仍然相信它们是可控的。在定价和通胀方面，我想说会有更多在今年的第二部分。首先，我们的大宗商品和外汇渠道在今年上半年一直具有优势，我们预计一些大宗商品和外汇的影响在下半年会相对较高。因此，第三季度的压力会更大，但我们将继续在成本和定价方面非常严格。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SBUX\">Starbucks</a></b> <b>(Consumer Discretionary):</b>&nbsp;“While we're thrilled with our margin performance in Q3, we expect it to moderate slightly in Q4 primarily due to the growing impact of inflation coupled with incremental investments critical to our continued growth.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SBUX\">星巴克</a></b><b>（非必需消费品）：</b>“虽然我们对第三季度的利润率表现感到兴奋，但我们预计第四季度的利润率将略有放缓，这主要是由于通货膨胀的影响越来越大，加上对我们的持续增长至关重要的增量投资。”</blockquote></p><p> “So in Q3 we had outstanding performance, but within that we covered headwinds in the Americas business of about 70 basis points. And we expect headwinds related to rising costs and inflationary pressures to continue into Q4 which is reflected in the guidance that we've given.”</p><p><blockquote>“因此，在第三季度，我们取得了出色的业绩，但在此期间，我们应对了美洲业务约70个基点的不利因素。我们预计与成本上升和通胀压力相关的不利因素将持续到第四季度，这反映在我们给出的指引中。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SHW\">Sherwin-Williams</a> </b><b>(Materials):</b>&nbsp;“Our gross margins were under considerable pressure in the quarter given the sustained higher raw material costs. However, as we have demonstrated in past inflationary cycles, we are fully committed to offsetting these costs, and we announced additional pricing actions in the quarter, which will be realized as the year goes on.”... “We anticipate year-over-year inflation in the third quarter to be higher than it was in the second quarter with only slight improvement in the fourth quarter as demand remains high.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SHW\">舍温-威廉姆斯</a></b><b>（材料）：</b>“鉴于原材料成本持续上涨，我们的毛利率在本季度面临相当大的压力。然而，正如我们在过去的通胀周期中所证明的那样，我们完全致力于抵消这些成本，我们在本季度宣布了额外的定价行动，这将随着时间的推移而实现。”……“我们预计第三季度的同比通胀率将高于第二季度，由于需求仍然强劲，第四季度仅略有改善。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/WM\">Waste Management</a></b> <b>(Industrials):</b>&nbsp;“It's no surprise to anyone who follows economic indicators that most businesses are experiencing inflation in their costs throughout 2021 and our business is no exception, particularly with regard to labor. We expect to overcome these pressures by increasing operating efficiencies and executing on our disciplined pricing programs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/WM\">废物管理</a></b><b>（工业）：</b>“对于任何关注经济指标的人来说，大多数企业在2021年都在经历成本通胀，这并不奇怪，我们的业务也不例外，特别是在劳动力方面。我们希望通过提高运营效率和执行我们严格的定价计划来克服这些压力。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/RSG\">Republic</a> </b><b>(Industrials):</b>&nbsp;“we're seeing very modest inflation in this year's economics; kind of do an annual increase and we give our people a fair increase every year. We expect that certainly to tick up next year, but to be more than offset by our ability to price through that. And so we think that inflation net-net will be margin expanding for us.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/RSG\">共和国</a></b><b>（工业）：</b>“我们看到今年的经济通胀非常温和；每年都会增加，我们每年都会给我们的人民带来公平的增长。我们预计明年肯定会上升，但这将被我们的定价能力所抵消。因此，我们认为通胀净额将扩大我们的利润率。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/LW\">Lamb Weston Holdings, Inc.</a> </b><b>(Staples):</b>&nbsp;“As a result, we expect input cost inflation, especially for edible oils packaging and transportation to be a significant headwind for fiscal 2022. Our goal is to offset inflation using combination of levers including pricing. To that end, we just began implementing broad-based price increases in our Foodservice and Retail segments, and don't expect to see the most of their benefit until our fiscal third quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/LW\">兰姆·韦斯顿控股公司。</a></b><b>（订书钉）：</b>“因此，我们预计投入成本通胀，尤其是食用油包装和运输成本通胀，将成为2022财年的一个重大阻力。我们的目标是使用包括定价在内的杠杆组合来抵消通胀。为此，我们刚刚开始实施广泛的食品服务和零售部门的价格上涨，预计要到第三财季才能看到最大的好处。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IQV\">IQVIA</a> </b><b>(Health Care):</b>&nbsp;“it's no secret that given the strength of the industry backdrop, there's obviously strong competition for talent. […] Now does it cause a certain amount of anxiety in the industry? And yes, it's true. And has it caused some level of wage inflation? Yes, that is true. There is also a little bit of an uptick in attrition levels as a consequence of all of that. All of that is true... But again, we feel confident. We do not anticipate this to cause any significant – there will be some level of headwind to our margins, but we have so many programs and productivity measures and process improvement measures in place that we are confident we will overwhelm.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/IQV\">IQVIA</a></b><b>（保健）：</b>“众所周知，鉴于行业背景的实力，对人才的竞争显然很激烈。【……】现在这是否会在行业中引起一定程度的焦虑？是的，这是真的。这是否会导致一定程度的工资上涨？是的，这是真的。因此，流失率也略有上升。所有这些都是真的...但同样，我们充满信心。我们预计这不会对我们的利润率造成任何重大影响，但我们有如此多的计划、生产力措施和流程改进措施，我们有信心我们将势不可挡。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/KMB\">Kimberly-Clark</a> </b><b>(Staples):</b>&nbsp;“Obviously, given that amount and given our outlook, we are covering a significant portion of that, but we can't practically cover all of that this year […] And so, what I would say is, part one, our pricing implementation is largely on track and we expect to fully offset inflation over time. Not all this year, but over time.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/KMB\">金佰利-克拉克</a></b><b>（订书钉）：</b>“显然，考虑到这个数额和我们的前景，我们正在涵盖其中的很大一部分，但我们今年实际上无法涵盖所有这些[...]因此，我想说的是，第一部分，我们的定价实施基本步入正轨，我们预计随着时间的推移将完全抵消通货膨胀。不是今年，而是随着时间的推移。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SWK\">Stanley Black &amp; Decker</a></b> <b>(Industrials):</b>&nbsp;“We continue to see elevated commodity prices and now expect $260 million of commodity inflation in the second half versus our prior assumption of $210 million. In particular, elevated steel pricing is largely driving the $50 million increase. We are now in the full implementation mode and believe we should be in a position to offset approximately 50% of the 2021 headwind, netting material inflation and better price realization is a neutral effect versus the prior guidance. The goal is to have our actions in place during the third quarter, so the 2022 carryover benefits of price and margin actions fully offset the carryover inflation”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SWK\">斯坦利百得</a></b><b>（工业）：</b>“我们继续看到大宗商品价格上涨，目前预计下半年大宗商品通胀将达到2.6亿美元，而我们之前的假设为2.1亿美元。特别是，钢铁价格上涨在很大程度上推动了5000万美元的增长。我们现在处于全面实施模式，相信我们应该能够抵消2021年约50%的逆风，与之前的指导相比，扣除实质性通胀和更好的价格实现是中性影响。我们的目标是在第三季度采取行动，以便2022年价格和利润率行动的结转收益完全抵消了结转通胀。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PNR\">Pentair PLC</a></b> <b>(Industrials):</b>&nbsp;“Regarding the current inflationary environment, we have implemented further price increases and we expect the price cost gap to further narrow in the second half.”... “Consistent with our guidance, the second quarter did not see price fully offset inflation as we saw higher inflation that we have continued to implement price increases to help offset. The second half should see price costs start to even out. But an unprecedented amount of material and wage inflation coupled with robust demand has contributed to price reading out at a slower pace. Our forecast reflects our expectations that material shortages and inflation are not going away nor will they improve materially.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PNR\">滨特尔公司</a></b><b>（工业）：</b>“对于当前的通胀环境，我们已经实施了进一步的涨价，我们预计下半年价格成本差距将进一步缩小。”……“与我们的指导一致，第二季度价格并未完全抵消通胀，因为我们看到通胀上升，我们继续实施提价来帮助抵消通胀。下半年价格成本应该会开始趋于平稳。但前所未有的材料和工资通胀加上强劲的需求导致价格读数放缓。我们的预测反映了我们的预期，即材料短缺和通货膨胀不会消失，也不会实质性改善。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/FTV\">Fortive</a></b> <b>(Industrials)</b>: “Even though we are seeing a little bit of cost inflation, we're still going to be net – significantly net in a good shape relative to material cost reductions for the year. So material cost reductions will still be a profit improver for the year, even though we've seen a little bit more inflation than typical, we still are in a very good shape relative to price cost, not only because of price, but also because we've done a nice job on the cost reduction side as well.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/FTV\">Fortive</a></b><b>（工业）</b>：“尽管我们看到了一点成本上涨，但相对于今年的材料成本降低，我们仍将保持净-显着净状况良好。因此，材料成本降低仍将是利润的改善尽管我们看到的通货膨胀比平时略高，但相对于价格成本，我们仍然处于非常好的状态，这不仅是因为价格，还因为我们在成本降低方面也做得很好。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CL\">Colgate-Palmolive</a></b> <b>(Staples):</b>&nbsp;“We expect raw material costs to remain elevated throughout 2021, but we do expect some sequential lessening of inflation as we get into the fourth quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CL\">高露洁棕榄</a></b><b>（订书钉）：</b>“我们预计2021年原材料成本将保持在高位，但我们确实预计随着进入第四季度，通胀将出现一定程度的环比下降。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/JCI\">Johnson Controls</a></b> <b>(Industrials):</b>&nbsp;“Although lead times and conversion cycles are stretching, we believe conditions will begin to improve over the next couple of quarters. We are successfully leveraging our pricing capabilities to offset inflation, and we still expect to remain price cost positive for the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/JCI\">江森自控</a></b><b>（工业）：</b>“尽管交货时间和转换周期正在延长，但我们相信情况将在未来几个季度开始改善。我们正在成功地利用我们的定价能力来抵消通货膨胀，我们仍然预计今年的价格成本将保持正值。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/UPS\">United Parcel Service Inc</a></b> <b>(Industrials):</b>&nbsp;“We know what happens in an inflationary environment, don't we? Somebody pays for it. It's usually the consumer, which means, right, that price increases get passed along all the way to the end to the consumer until the consumer says, ouch, I'm not going to buy any more. The consumer continues to buy. So there we are in the cycle, and this is a cycle, right. This is a cycle.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/UPS\">联合包裹服务公司</a></b><b>（工业）：</b>“我们知道在通货膨胀环境下会发生什么，不是吗？有人为此买单。通常是消费者，这意味着，对，价格上涨一直传递到消费者身上，直到消费者说，哎哟，我不打算再买了。消费者继续购买。所以我们在循环中，这是一个循环，对吧。这是一个循环。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PKG\">Packaging Corp of America</a></b> <b>(Materials):</b>&nbsp;“These items were partially offset by higher operating costs of $0.57, primarily due to inflation-related increases in the areas of labor infringes, repairs, materials and supplies, recycled fiber cost, as well as other indirect and fixed cost areas Inflation associated with most of the operating costs as well as freight and logistics expenses is expected to continue.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PKG\">美国包装公司</a></b><b>（材料）：</b>“这些项目被0.57美元较高的运营成本部分抵消，这主要是由于劳工侵权、维修、材料和供应、再生纤维成本以及其他间接和固定成本领域的通货膨胀相关增加与大多数运营成本以及货运和物流费用预计将继续。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/GLW\">Corning</a> </b><b>(Tech):</b>&nbsp;“Now during the quarter, we continue to face supply chain disruptions and inflationary headwinds. Planning and increased output allowed us to reduce costly airfreight, but the sequential improvement was offset by increases in shipping rates and the cost of certain raw materials such as resin, a key component in our Optical and Life Sciences businesses. […] So right now, we're clearly facing a lot of supply chain disruptions and inflationary pressure. And what we saw in the first quarter was, of course, a lot of that relative to freight and logistics. We had plans to mitigate that. We actually did those mitigations. But then there were other things that occurred, particularly around increased resin cost. So as we think about the guide, in particular the guide for the third quarter, we thought it was prudent to assume that, that 150 basis points drag that's coming from those inflationary and supply chain logistics costs would continue.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/GLW\">康宁</a></b><b>（技术）：</b>“现在在本季度，我们继续面临供应链中断和通胀阻力。规划和产量增加使我们能够减少昂贵的空运，但连续的改善被运费和树脂等某些原材料成本的上涨所抵消，树脂是我们光学和生命科学业务的关键组成部分。[…]所以现在，我们显然面临着很多供应链中断和通胀压力。当然，我们在第一季度看到的大部分是与货运和物流相关的。我们有计划来缓解这种情况。我们实际上做了这些缓解措施。但随后还发生了其他事情，特别是树脂成本增加。因此，当我们考虑该指南，特别是第三季度的指南时，我们认为谨慎的假设是，通胀和供应链物流成本带来的150个基点的拖累将持续下去。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IR\">Ingersoll Rand Inc.</a> </b><b>(Industrials):</b>&nbsp;“Since the end of Q1 of 2021 of this year, we have seen inflation and we call inflation here direct material and logistics, continue to increase, which is the reason why we acted on additional pricing actions. I'll say those pricing actions are offsetting the incremental inflation that we're expecting to see in the second half.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/IR\">英格索兰公司。</a></b><b>（工业）：</b>“自今年2021年第一季度末以来，我们看到通货膨胀，我们在这里直接材料和物流的看涨期权通货膨胀继续增加，这就是我们采取额外定价行动的原因。我会说这些定价行动正在抵消我们预计下半年看到的增量通胀。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/HIG\">Hartford</a></b> <b>(Financials):</b>&nbsp;“As we listen to inflationary expectations, we expect some of those trends will be with us into the third quarter, fourth quarter. But I think that given our trends, our expectations to the year haven't changed materially and we're on top of our selections and I think we're in good shape as we move into Q3.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/HIG\">哈特福德</a></b><b>（财务）：</b>“当我们听取通胀预期时，我们预计其中一些趋势将伴随我们进入第三季度、第四季度。但我认为，考虑到我们的趋势，我们对今年的预期没有重大变化，我们处于领先地位在我们的选择中，我认为我们在进入第三季度时状况良好。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PHM\">PulteGroup</a></b> <b>(Consumer Discretionary):</b>&nbsp;“As reflected in the increases in our sales prices and gross margin, we've been able to pass on the meaningful cost inflation we have incurred over the course of the year. At this point, we now expect house costs to be up between 9% and 11% for the full year with the peak of certain costs, driven by lumber flowing through in the third and fourth quarters. Even with the ongoing rise in build costs, we still see opportunity for gross margins to move higher over the remaining two quarters of the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PHM\">普尔特集团</a></b><b>（非必需消费品）：</b>“正如我们销售价格和毛利率的上涨所反映的那样，我们已经能够转嫁这一年中发生的有意义的成本通胀。目前，我们现在预计房屋成本将上涨9%至11%，在第三和第四季度木材流动的推动下，某些成本将达到峰值。即使建造成本持续上升，我们仍然看到今年剩余两个季度毛利率有机会走高。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/BSX\">Boston Scientific</a> </b><b>(Health Care):</b>&nbsp;“[We] expect slight improvements in second half gross margin compared to the first half, though still not at full year 2019 levels, as other headwinds remain, in particular, the lingering cost of running plants with COVID-specific measures, as well as some impact from inflation.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/BSX\">波士顿科学公司</a></b><b>（保健）：</b>“[我们]预计下半年毛利率将比上半年略有改善，但仍未达到2019年全年水平，因为其他不利因素仍然存在，特别是采取新冠疫情特定措施运营工厂的成本挥之不去，以及通货膨胀的一些影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/HAS\">Hasbro</a> </b><b><b>(</b></b><b>Consumer Discretionary):</b>&nbsp;“We talked earlier about ocean freight in some of our prepared remarks and we're seeing those costs are over four times higher than what we had been experiencing earlier or last year even. So, we expect a lot of those costs to continue. But between cost of sales and that, we do expect our gross margin to be slightly down from a year ago, but we do expect the price increases that we've taken to offset our increased costs”</p><p><blockquote><b><a href=\"https://laohu8.com/S/HAS\">孩之宝</a></b><b><b>(</b></b><b>非必需消费品）：</b>“我们早些时候在一些准备好的发言中谈到了海运，我们看到这些成本比我们早些时候甚至去年经历的成本高出四倍多。因此，我们预计其中很多成本将持续下去。但在销售成本与此之间，我们确实预计我们的毛利率将比一年前略有下降，但我们确实预计我们采取的价格上涨将抵消成本的增加”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/GE\">General Electric Co</a></b> <b>(Industrials):</b>&nbsp;“Looking forward to the second half of 2021 and into 2022, although inflation pressure is likely to increase particularly in Aviation and Renewables, we expect the net inflation impact to be limited.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/GE\">通用电气公司</a></b><b>（工业）：</b>“展望2021年下半年和2022年，尽管通胀压力可能会增加，尤其是在航空和可再生能源领域，但我们预计净通胀影响有限。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/OTIS\">Otis Worldwide Corp</a></b> <b>(Industrials):</b>&nbsp;“This high inflationary environment that we're seeing should help us on Service pricing because most of our contracts in Europe and Americas have price escalators kind of built-in that are largely tied to labor inflation. And, historically, we've always had that lever but given low inflationary environment in the macro market, the prices don't always stick. And now, with this inflationary environment, we should have a greater ability to stick those prices, so that should help next year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/OTIS\">奥的斯全球公司</a></b><b>（工业）：</b>“我们看到的高通胀环境应该有助于我们的服务定价，因为我们在欧洲和美洲的大多数合同都内置了价格自动扶梯，这些自动扶梯在很大程度上与劳动力通胀挂钩。而且，从历史上看，我们一直都有这个杠杆，但考虑到宏观市场的低通胀环境，价格并不总是稳定。现在，在这种通胀环境下，我们应该有更大的能力来维持这些价格，这样明年应该会有所帮助。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/HON\">Honeywell</a></b> <b>(Industrials):</b>&nbsp;“so everywhere in our books of business that we can, we continue to pass through the inflation that's being seen in the materials and also in the labor because in the projects businesses, labor is also important as well.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/HON\">霍尼韦尔</a></b><b>（工业）：</b>“因此，在我们的业务账簿中，我们尽可能地继续应对材料和劳动力中出现的通货膨胀，因为在项目业务中，劳动力也很重要。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SLB\">Schlumberger</a></b> <b>(Energy):</b>&nbsp;“But I believe that the tool box we have and the professional and very experienced organization we have in our planning and supply chain and manufacturing organization that are used to manage some inflationary pressure has allowed us to mitigate and edged this inflationary pressure and contain cost inflation […] under our roofs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SLB\">斯伦贝谢</a></b><b>（能量）：</b>“但我相信，我们拥有的工具箱以及我们在规划、供应链和制造组织中拥有的用于管理一些通胀压力的专业且经验丰富的组织，使我们能够减轻和缓解这种通胀压力并控制成本通货膨胀[……]在我们的屋檐下。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/CE\">Celanese</a></b> <b>(Materials):</b>&nbsp;“But we did raise price more than we saw our materials increasing. And I think that's a question of mix. I mean what – we are in a very tight supply constrained situation. So we have been prioritizing our higher margin products and our higher market –higher margin region to really maximize the return that we get for the molecules thatwe have available to sell to the market.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CE\">塞拉尼斯</a></b><b>（材料）：</b>“但我们提高价格的幅度确实超过了材料的增幅。我认为这是一个组合问题。我的意思是——我们正处于供应非常紧张的情况。因此，我们一直在优先考虑利润率更高的产品和更高的市场——利润率更高的地区，以真正最大化我们可出售给市场的分子的回报。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/ADM\">Archer-Daniels Midland</a> </b><b>(Materials):</b>&nbsp;“In our scenario, margins normalize, we have inflation and then we are able to offset a lot of that through growth and through productivity.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ADM\">阿彻-丹尼尔斯米德兰</a></b><b>（材料）：</b>“在我们的情况下，利润率正常化，我们会出现通货膨胀，然后我们能够通过增长和生产力来抵消大部分通货膨胀。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/INTC\">Intel</a></b> <b>(Tech):</b>&nbsp;“Since April, we have seen supply chain inflation happening faster than we are electing to pass through to our customers, further impacting our second half gross margin outlook.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/INTC\">英特尔</a></b><b>（技术）：</b>“自四月份以来，我们看到供应链通胀的发生速度快于我们选择传递给客户的速度，这进一步影响了我们下半年的毛利率前景。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a> </b><b><b>(</b></b><b>Industrials):</b>&nbsp;“We are mindful of the tight job market, as well as general inflationary pressures. We expect to have wage rate inflation beyond our normal annual wage rate increases, as we want to be competitive to retain and attract talent, including the decision to increase the minimum hourly wage to $15 per hour across all workgroups, we now estimate, $5 million to $10 million of additional salary, wages, and benefits cost pressure in third quarter and approximately $15 million in fourth quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/LUV\">西南航空</a></b><b><b>(</b></b><b>工业）：</b>“我们注意到就业市场紧张以及总体通胀压力。我们预计工资率通胀将超过正常的年度工资率涨幅，因为我们希望保持竞争力以留住和吸引人才，包括决定提高最低工资我们现在估计，所有工作组的每小时工资为每小时15美元，第三季度的额外工资、工资和福利成本压力为500万至1000万美元，第四季度约为1500万美元。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/GPC\">Genuine Parts</a> </b><b>(Consumer Discretionary):</b>&nbsp;“In the second quarter, there was significant pricing activity with our suppliers resulting in product cost inflation. We were positioned to pass these increases on to our customers and the impact of price inflation was neutral to gross margin. We estimate a 1.5% impact of inflation in automotive sales for the quarter and a 1% impact in industrial. Based on the current environment, we expect this to increase further through the second half of the year.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/GPC\">正品零件</a></b><b>（非必需消费品）：</b>“第二季度，我们的供应商进行了大量的定价活动，导致产品成本上涨。我们准备将这些上涨转嫁给我们的客户，价格上涨对毛利率的影响是中性的。我们估计通胀对本季度汽车销售的影响为1.5%，对工业的影响为1%。根据目前的环境，我们预计下半年这一数字将进一步增加。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NUE\">Nucor</a> </b><b>(Materials):</b>&nbsp;“So we'll see some price inflation that will cause working capital to go up further, but probably not at the same pace as we experienced in Q2.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/NUE\">纽科尔</a></b><b>（材料）：</b>“因此，我们将看到一些价格上涨，这将导致营运资本进一步上升，但可能不会像我们在第二季度经历的那样。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/POOL\">Pool</a> </b><b>(Consumer Discretionary):</b>&nbsp;“Inflation, as we have previously mentioned, has been above average this year and is trending to 5% to 6% for the year in total. This has had no meaningful impact on demand and has passed through the channel as is typically the case.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/POOL\">水池</a></b><b>（非必需消费品）：</b>“正如我们之前提到的，今年的通胀率高于平均水平，全年总体趋势为5%至6%。这对需求没有产生有意义的影响，并且像通常情况一样通过了渠道。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NEM\">Newmont Mining</a> </b><b><b>(</b></b><b>Materials):</b>&nbsp;“The impacts of the pandemic are also driving cost inflation around the globe. We are now expecting cost escalation of around 3% to 5% for materials, energy and labor. And we expect these pressures to continue through until at least the end of next year.</p><p><blockquote><b><a href=\"https://laohu8.com/S/NEM\">纽蒙特矿业公司</a></b><b><b>(</b></b><b>材料）：</b>“疫情的影响也在推动全球成本通胀。我们现在预计材料、能源和劳动力的成本将上涨约3%至5%。我们预计这些压力至少会持续到明年年底。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/FCX\">Freeport-McMoRan</a></b> <b>(Materials):</b>&nbsp;“Everyone is focused on inflation around the world and the impact on mining companies. And as Kathleen said, we've had higher energy costs, higher grinding material cost, but Josh Olmsted and our Americas team has just done a great job in helping offset that.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/FCX\">自由港-麦克莫兰</a></b><b>（材料）：</b>“每个人都在关注世界各地的通货膨胀及其对矿业公司的影响。正如凯瑟琳所说，我们的能源成本更高，研磨材料成本更高，但乔什·奥姆斯特德和我们的美洲团队在帮助抵消这一点方面做得很好。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/UNP\">Union Pacific</a> </b><b><b>(</b></b><b>Industrials):</b>&nbsp;“And as we experience a strong demand environment, our pricing actions continue to yield dollars in excess of inflation.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/UNP\">联合太平洋</a></b><b><b>(</b></b><b>工业）：</b>“当我们经历强劲的需求环境时，我们的定价行为继续产生超过通胀的美元收益。”</blockquote></p><p> <a href=\"https://laohu8.com/S/DGX\">Quest Diagnostics</a> (Health Care): “So there's nothing extraordinary in the back half of the year in terms of labor inflation.”</p><p><blockquote><a href=\"https://laohu8.com/S/DGX\">Quest诊断</a>（医疗保健）：“所以下半年劳动力通胀没有什么异常。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MMC\">Marsh &amp; McLennan</a> </b><b>(Financials):</b>&nbsp;“The pace of price increases continued to moderate, but still remains high, reflecting elevated loss activity and concerns about inflation and low interest rates.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/MMC\">马什-麦克伦南律师事务所</a></b><b>（财务）：</b>“价格上涨步伐继续放缓，但仍然居高不下，反映出损失活动增加以及对通胀和低利率的担忧。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/ALLE\">Allegion PLC</a></b> <b>(Industrials):</b>&nbsp;“Allegion is not immune to inflation and the supply chain constraints impacting industrial markets. Allegion navigated well during Q2, but these industry-wide constraints will persist for the remainder of the year and put pressure on margins for the short-term.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ALLE\">Allegion PLC</a></b><b>（工业）：</b>“Allegion也不能幸免于通货膨胀和影响工业市场的供应链限制。Allegion在第二季度表现良好，但这些全行业的限制将在今年剩余时间内持续存在，并在短期内给利润率带来压力。”</blockquote></p><p> “We've seen an acceleration of inflation, predominantly in commodity costs, material components, freight, packaging, et cetera. It's continued to be a headwind. As you know, we're pretty aggressive moving on price and we're taking similar actions in the back half of this year. We've went ahead and announced a price increase that will take effect at the beginning of Q4. So, there's going to be some margin pressure, I would say, given the acceleration in inflation particularly in Q3.”</p><p><blockquote>“我们看到通货膨胀加速，主要是在商品成本、材料组件、运费、包装等方面。这仍然是一个阻力。如您所知，我们在价格方面非常积极，我们正在采取类似的行动今年下半年。我们已经宣布涨价，将于第四季度初生效。因此，我想说，考虑到通胀加速，尤其是在第三季度，将会存在一些利润率压力。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/WHR\">Whirlpool</a> </b><b><b>(</b></b><b>Consumer Discretionary): “</b>Structural cost takeout actions, higher volumes and ongoing cost productivity initiatives delivered 550 basis points of net cost margin improvement. These margin benefits were partially offset by raw material inflation, particularly steel and resins, which resulted in an unfavorable impact of 400 basis points.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/WHR\">漩涡</a></b><b><b>(</b></b><b>非必需消费品）：”</b>结构性成本削减行动、更高的产量和持续的成本生产率举措使净成本利润率提高了550个基点。这些利润率收益被原材料通胀部分抵消，特别是钢铁和树脂，这导致了400个基点的不利影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CSX\">CSX Corp</a></b> <b>(Industrials):</b>&nbsp;“The good news is we have secured adequate inventory and supply commitments for critical materials, and we've worked to lock in the vast majority of unit costs for 2021. Excluding locomotive fuel, expense inflation this quarter was just above 3% and we don't expect that to move much going into the second half.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CSX\">CSX公司</a></b><b>（工业）：</b>“好消息是，我们已经为关键材料获得了足够的库存和供应承诺，并且我们努力锁定2021年的绝大多数单位成本。不包括机车燃料，本季度的费用通胀率略高于3%，我们预计下半年不会有太大影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NTRS\">Northern</a> </b><b><b>(</b></b><b>Financials):</b>&nbsp;“Inflation is showing up in different areas. I mean every firm is dealing with talent issues and the pressure is there. We certainly see that and experience it and talking at management levels about how to address it. And the inflation we see across the business and different areas as well. And some of it is unit costs but some of it is just the increased cost of doing business. And we talked about the significant increase in technology oriented expenses that we're having. In some ways that's an inflation cost on the business. It's not just a unit price inflation but it's inflation in the overall cost of doing business. So, it's showing up in different ways across the organization.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/NTRS\">北方的</a></b><b><b>(</b></b><b>财务）：</b>“通货膨胀正在不同领域出现。我的意思是，每家公司都在处理人才问题，压力也是存在的。我们当然看到了这一点，经历了这一点，并在管理层讨论如何解决这一问题。我们在整个业务和不同领域都看到了通货膨胀。其中一些是单位成本，但另一些只是做生意的成本增加。我们还谈到了面向技术的费用的显着增加。在某些方面，这是企业的通货膨胀成本。这不仅仅是单价通胀，而是总体营商成本的通胀。因此，它在整个组织中以不同的方式表现出来。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/BKR\">Baker Hughes</a> </b><b>(Energy):</b>&nbsp;“Although we have moved quickly to pass inflation on to our customers, there is a timing lag relative to the increase in costs.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/BKR\">贝克休斯</a></b><b>（能量）：</b>“尽管我们迅速采取行动将通胀转嫁给客户，但相对于成本的增加，存在时间滞后。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a> </b><b>(Health Care):</b>&nbsp;“We continue to expect in the back half of the year pressure in parts of our portfolio in terms of commodity inflation and distribution cost. We are prepared to absorb those.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/JNJ\">强生公司</a></b><b>（保健）：</b>“我们继续预计，今年下半年，我们的部分投资组合将面临大宗商品通胀和分销成本方面的压力。我们已准备好吸收这些压力。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CMG\">Chipotle Mexican Grill</a> </b><b>(Consumer Discretionary):</b>&nbsp;“We anticipate these commodity headwinds will negatively impact the quarter by an additional 60 basis points to 80 basis points, essentially offsetting the benefit of menu price increases. This will result in food costs for Q3 being at or slightly above the percentage we saw in Q2. Over the next few quarters, we'll have greater visibility on how much of this inflation is permanent versus transitory, and we can take the appropriate actions as needed to help offset any lasting impacts.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CMG\">墨西哥烤肉店</a></b><b>（非必需消费品）：</b>“我们预计这些大宗商品不利因素将对本季度产生额外60个基点至80个基点的负面影响，基本上抵消了菜单价格上涨的好处。这将导致第三季度的食品成本达到或略高于我们在第二季度看到的百分比。在接下来的几个季度中，我们将更好地了解这种通货膨胀有多少是永久性的还是暂时性的，我们可以根据需要采取适当的行动来帮助抵消任何持久的影响。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/DOV\">Dover</a> </b><b><b>(</b></b><b>Industrials):</b>&nbsp;“What we underestimated was the total cost impacts of a strained logistics system and tight labor market that shows no signs of abating. This has had two knock-on effects on our results. First, the absolute cost of inbound and outbound freight were materially higher; and second and more important, the costs associated with production line stoppages due to lack of labor and components caused by transit time uncertainty and overall supply chain tightness.”... “I think that there is an interesting argument, and I would agree with it that to the extent that labor inflation is durable and that supply chains, the issues that we're having in supply chains will improve, but not dramatically. There's an argument to be made that the returns on automation are going to be better than they've been over the last five to six years. And I would agree with that.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/DOV\">多佛</a></b><b><b>(</b></b><b>工业）：</b>“我们低估了紧张的物流系统和紧张的劳动力市场对总成本的影响，这种影响没有减弱的迹象。这对我们的业绩产生了两个连锁反应。首先，入境和出境运费的绝对成本大幅提高；第二，也是更重要的是，由于运输时间不确定性和整体供应链紧张导致的劳动力和零部件缺乏而导致生产线停工的相关成本。”...“我认为有一个有趣的论点，我同意它，就劳动力通胀和供应链而言，我们在供应链中遇到的问题将会改善，但不会显着改善。有一个论点是自动化的回报将比过去五到六年更好。我同意这一点。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/KSU\">Kansas City Southern</a> </b><b>(Industrials):</b>&nbsp;“Core pricing and contract renewals were essentially in line with the first quarter, but we are clearly seeing inflationary pressures that will need to be addressed going forward. As we look into the back half of 2021, we would expect the auto chip shortage to continue to negatively impact our growth, with a strong bounce-back late in the year and into 2022 as auto demand continues to be extremely high and dealer inventories at all-time lows.”... “We've now got to step up in inflation. So, we need to kind of deal with that going forward because our long-term strategy has always been to price above the cost of inflation. But an interesting dynamic and even the fed looking at their long-term projections around inflation would suggest inflation is going to come back down in 2022. So, there are interesting discussions with customers to have and we're going to do our best to continue to make sure we cover cost increases in our business there.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/KSU\">堪萨斯城南部</a></b><b>（工业）：</b>“核心定价和合同续签与第一季度基本一致，但我们清楚地看到未来需要解决的通胀压力。展望2021年下半年，我们预计汽车芯片短缺将继续对我们的增长产生负面影响，随着汽车需求继续极高且经销商库存处于历史低点，今年年底和2022年将出现强劲反弹。”……“我们现在必须加大通胀力度。因此，我们需要在未来应对这一问题，因为我们的长期策略一直是定价高于通胀成本。但一个有趣的动态，甚至美联储也关注他们对通胀的长期预测表明，通胀将在2022年回落。因此，我们将与客户进行有趣的讨论，我们将尽最大努力继续确保弥补那里业务的成本增加。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/PPG\">PPG Industries Inc</a></b> <b>(Materials):</b>&nbsp;“Due to supply disruptions, we experienced unprecedented levels of raw material and transportation costs that continually elevated as the quarter progressed. This drove raw material inflation to be up a mid to high-teen percentage on a year-over-year basis versus our original estimate of a high single-digit percentage increase.”... “Clearly this inflation cycle is much higher than anyone anticipated, and we're continuing on a business-by-business basis, working to secure further selling price increases. This includes executing additional pricing actions during the third quarter.”...“We now fully expect to offset raw material cost inflation in the fourth quarter on 2021 on a run rate basis.”...“But if we could get the overall base supply/demand (back in) balance, if you will, in our supply chain, I think prices would start to normalize somewhat. We don't see that happening in 2021. So right now, we're still anticipating significant inflation, when we said it's 20% in Q3 and we'll have a significant inflation in Q4. So for as far as we can currently look out, we're still looking at a pretty inflationary cycle.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PPG\">PPG工业公司</a></b><b>（材料）：</b>“由于供应中断，我们经历了前所未有的原材料和运输成本水平，随着本季度的进展，这些成本不断上升。这导致原材料通胀率同比上升了中到高10%的百分比，而我们最初估计的高个位数百分比增长。”...“显然，这个通胀周期远高于任何人的预期，我们将继续逐个企业地努力确保销售价格进一步上涨。这包括在第三季度执行额外的定价行动。”...“我们现在完全预计将在2021年第四季度抵消原材料成本通胀。”...“但如果我们能够在我们的供应链中实现整体基本供需平衡，如果你愿意的话，我认为价格将开始正常化。我们认为2021年不会发生这种情况。所以现在，我们仍然预计会出现显著的通胀，当时我们说第三季度为20%，第四季度将出现显著的通胀。因此，就我们目前所看到的而言，我们仍然面临着一个相当严重的通胀周期。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/FAST\">Fastenal</a> </b><b>(Industrials):</b>&nbsp;“Price actions to-date have largely matched cost increases. There's a ton of inflation going on. There's inflation because of disruption and shipping,”... “The marketplace is still receptive to price actions and the tools and processes we have developed have been effective. Even so, given the rate of inflation, maintaining price cost parity will be a bigger challenge in the third quarter.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/FAST\">紧固件</a></b><b>（工业）：</b>“迄今为止的价格走势在很大程度上与成本上涨相匹配。有大量的通货膨胀正在发生。通货膨胀是因为中断和运输，”...“市场仍然接受价格行为，我们开发的工具和流程是有效的。即便如此，考虑到通胀率，维持价格成本平价将是第三季度更大的挑战。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CAG\">ConAgra</a> </b><b><b>(</b></b><b>Staples):</b>&nbsp;“We expect the negative impact of the cost inflation to hit our financials before the beneficial impact of our responsive actions, including our pricing. This timing mismatch is expected to be particularly impactful in (fiscal) H1 and, more specifically, in (fiscal) Q1. The resulting pressure on our first half margins impact our full year profit […] Although the substantial increase in inflation over the last few months has negatively impacted our profit guidance for the (fiscal) year, we remain confident in the underlying strength of the business. […] Importantly, we expect that the impact of our aggressive mitigating actions will cause second half adjusted EPS to rebound, to be in line with what was assumed for (fiscal) H2 within our prior guidance.”... “When we initially gave our fiscal 2022 targets at our Investor Day in April of 2019, our models assumed an annual inflation rate of around 3%. At the time of our third quarter call, in April of 2021, we expected fiscal 2022 inflation to come in at twice that level around 6% […] We now currently expect fiscal 2022 inflation to come in around 9%. The difference between the 6% we expected a few months ago and the 9% we expect today equates to approximately $255 million in additional costs during fiscal 2022.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CAG\">康尼格拉</a></b><b><b>(</b></b><b>订书钉）：</b>“我们预计成本通胀的负面影响将在我们的应对行动（包括我们的定价）产生有益影响之前对我们的财务状况产生影响。这种时间错配预计将在（财政）上半年，更具体地说，在（财政）第一季度。由此产生的上半年利润率压力影响了我们的全年利润[……]尽管过去几个月通胀的大幅上升对我们本财年的利润指引产生了负面影响，但我们仍然对业务的基本实力充满信心。[…]重要的是，我们预计我们积极的缓解行动的影响将导致下半年调整后的每股收益反弹，与我们之前指导中对（财政）H2的假设一致。”...“当我们最初在2019年4月的投资者日给出2022财年目标时，我们的模型假设年通胀率约为3%。在2021年4月发布第三季度看涨期权时，我们预计2022财年通胀率将达到该水平的两倍，约为6%[……]我们目前预计2022财年通胀率将达到9%左右。我们几个月前预期的6%与今天预期的9%之间的差异相当于2022财年约2.55亿美元的额外成本。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> </b><b>(Financials):</b>&nbsp;“In terms of inflation, I would say that we're not seeing inflation in our actuals. But obviously, your guess is as good as mine in terms of the future. But it would be reasonable to assume that that's going to be a little bit of a challenge... it won't make any difference as long as you have that strong growth in consumer there. Jobs are plentiful; wages are going up. These are all good things. And so, obviously, inflation could be worse than people think. I think it'll be a little bit worse than what the Fed thinks. I don't think it's all going to be temporary. But that doesn't matter if we have very strong growth.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a></b><b>（财务）：</b>“就通货膨胀而言，我想说我们的实际情况并没有看到通货膨胀。但显然，就未来而言，你的猜测和我的一样好。但可以合理地假设这将是一个小小的挑战……只要那里的消费者有如此强劲的增长，就不会有任何影响。就业机会充足；工资在上涨。这些都是好东西。因此，显然，通货膨胀可能比人们想象的更严重。我认为情况会比美联储想象的要糟糕一点。我不认为这一切都是暂时的。但如果我们有非常强劲的增长，这并不重要。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/MKC\">McCormick</a> </b><b>(Staples):</b>&nbsp;“We're seeing broad-based inflation across our various commodities, packaging materials and transportation costs. To offset rising costs, we are raising prices where appropriate, but usually there is a lag time associated with pricing, particularly with how quickly costs are escalating. And therefore, most of our actions won't go into effect until late 2021.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/MKC\">麦考密克</a></b><b>（订书钉）：</b>“我们看到各种商品、包装材料和运输成本出现了广泛的通胀。为了抵消成本上升，我们会在适当的时候提高价格，但通常定价会有一个滞后时间，特别是成本上升的速度。因此，我们的大部分行动要到2021年底才会生效。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PEP\">Pepsi</a></b> <b>(Staples):</b>&nbsp;“We're seeing inflation in our business across many of our raw ingredients and some of our inputs in labor and freight and everything else. So, we operate in the same context. We feel quite comfortable or confident that through a combination of net revenue management initiatives and increased productivity, we can navigate this.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/PEP\">百事可乐</a></b><b>（订书钉）：</b>“我们看到我们的业务在许多原材料以及劳动力、货运和其他一切方面的一些投入方面都出现了通货膨胀。因此，我们在相同的背景下运营。我们感到非常舒服或有信心，通过净收入管理举措和提高生产力的结合，我们可以应对这一问题。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/CTAS\">Cintas</a> </b><b><b>(I</b></b><b>ndustrials):</b>&nbsp;“While some inflationary pressures increased certain costs, these were more than offset by increased revenue from businesses reopening or increasing capacity as COVID-19 case counts fell and restrictions on businesses were reduced.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/CTAS\">带子</a></b><b><b>（我</b></b><b>工业）：</b>“虽然一些通胀压力增加了某些成本，但随着COVID-19病例数下降和对企业限制减少，企业重新开业或增加产能带来的收入增加足以抵消这些成本。”</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/ZION\">Zions</a> </b><b>(Financials):</b>&nbsp;“This outlook does not reflect a significant change in inflation from what we've observed over the past several years which we believe is an emerging and increasingly important risk to our outlook.”... “But there is no softening in the concerns about supply chain or concerns about inflation. Those concerns are real. They're certainly remaining steady, if not building, in terms of the minds of business owners.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/ZION\">锡安</a></b><b>（财务）：</b>“与我们过去几年观察到的情况相比，这一前景并没有反映出通胀的重大变化，我们认为这对我们的前景来说是一个新兴且日益重要的风险。”...“但对供应链的担忧或对通胀的担忧并没有减弱。这些担忧是真实的。就企业主的想法而言，它们肯定会保持稳定，如果不是在增强的话。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/SIVB\">SVB Financial Group</a> </b><b>(Financials):</b>&nbsp;“If we do see inflation, I actually think it's going to be modest, I don't think it's going to be something that would be a fundamental change that would cause the market to get overly spooked. But again, something to pay attention to, and that's just my own opinion.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/SIVB\">SVB金融集团</a></b><b>（财务）：</b>“如果我们确实看到通胀，我实际上认为通胀将是温和的，我不认为这将是一个根本性的变化，会导致市场过度恐慌。但同样，需要注意的是，这只是我自己的看法。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/WRB\">WR Berkley</a> </b><b>(Financials): “</b>We continue to be very focused on inflation. From our perspective, inflation is very much here. There're some people that talked about it being this transient that may be true. I'm not quite sure when people talk about transient, well, how long is transient, regardless the costs of things are up today. But even if you saw inflation return to a 2.5% or 3% level, we continue to believe that the 10-year at 130% or less doesn't make a whole lot of sense for a long run.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/WRB\">WR伯克利</a></b><b>（财务）：“</b>我们继续非常关注通货膨胀。从我们的角度来看，通货膨胀非常严重。有些人说这是短暂的，这可能是真的。我不太确定当人们谈论瞬态时，嗯，瞬态有多长，不管今天东西的成本在上升。但即使你看到通胀率回到2.5%或3%的水平，我们仍然认为，从长远来看，130%或更低的10年期通胀率也没有多大意义。”</blockquote></p><p> <b><a href=\"https://laohu8.com/S/RHI\">Robert Half</a> </b><b>(Industrials):</b>&nbsp;“We're passing through the wage inflation that we're having and we've actually expanded our margin.”</p><p><blockquote><b><a href=\"https://laohu8.com/S/RHI\">罗伯特·哈尔夫</a></b><b>（工业）：</b>“我们正在经历工资通胀，而且我们实际上扩大了利润率。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/corporate-margins-set-tumble-companies-freak-out-about-surge-bad-inflation?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</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":{"UPS":"联合包裹","GLW":"康宁","FCX":"麦克莫兰铜金","SBUX":"星巴克","NTRS":"北方信托公司","CSX":"CSX运输","TFX":"泰利福","SWK":"美国史丹利公司","FTV":"Fortive Corporation","PKG":"美国包装公司","LKQ":"LKQ Corporation","ODFL":"Old Dominion Freight Line","PPG":"PPG工业","MKC":"味好美","PEP":"百事可乐","BKR":"Baker Hughes Co","KMB":"金佰利","HON":"霍尼韦尔","DGX":"奎斯特诊疗","BSX":"波士顿科学","IQV":"艾昆纬","MHK":"莫霍克工业公司","NWL":"纽威","CE":"塞拉尼斯","ZION":"齐昂银行","ADM":"Archer Daniels Midland Co","NEM":"纽曼矿业","ITW":"伊利诺伊机械","ALLE":"Allegion PLC","JNJ":"强生","WRB":"WR柏克利","RHI":"罗致恒富","GPC":"Genuine Parts Co","HAS":"孩之宝","RSG":"共和废品处理","IR":"英格索兰","CL":"高露洁","MDLZ":"亿滋","JPM":"摩根大通","CHD":"丘奇＆德怀特","INTC":"英特尔","HSY":"好时","HIG":"哈特福德金融","KSU":"堪萨斯南方铁路","GE":"GE航空航天","LW":"Lamb Weston Holdings, Inc.","OTIS":"奥的斯","POOL":"Pool Corporation","PNR":"滨特尔","SLB":"斯伦贝谢","CTAS":"信达思","FAST":"快扣","LUV":"西南航空","SHW":"宣伟公司","WM":"美国废物管理","NUE":"纽柯钢铁","AMZN":"亚马逊","CMG":"墨式烧烤","MMC":"Marsh & McLennan","PHM":"普得集团","WHR":"惠而浦","UNP":"联合太平洋","JCI":"江森自控","IP":"国际纸业","IEX":"IDEX Corp","MAS":"马斯科","CAG":"康尼格拉","DOV":"美国都福集团","AVY":"艾利"},"source_url":"https://www.zerohedge.com/markets/corporate-margins-set-tumble-companies-freak-out-about-surge-bad-inflation?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155521665","content_text":"First the good news: according to Bank of America's earnings tracker, Q2 earnings season is already one of the strongest in history (as one would expect following trillions in fiscal and monetary stimulus and comping off the catastrophic Q2 of 2020 when covid shut down the economy), and following the busiest earnings week of 2Q, 296 S&P 500 companies (76% of index earnings) have reported. 2Q EPS is now tracking a 13% beat or $51.12, topping BofA's estimate of $50 or an 11% beat; and far above the historical average since the start of earnings season.\n\nTo avoid the skewed 2020 data and doing a two-year lookback, 2Q is now expected to be +83% YoY or +24% vs. 2Q19, vs. last quarter’s 25% 2-yr growth rate. Financials, Communication Services, and Consumer Discretionary led the EPS beat, while revenues are also coming in red hot and tracking a 3% beat, led by Energy.\nMore importantly, the proportion of beats also remained strong: 83%/85%/74% of companies beat on EPS/sales/both, representing the best proportion of beats in history (since 2011).\n\nLooking at the top line, analysts now expect 2Q sales to rise 21% YoY, vs. 14% YoY last quarter. Energy is expected to lead (+102%), while Financials are forecast to be the biggest drag (-4%). Here, BofA estimates that FX tailwinds thanks to a weaker dollar added about 3% to YoY sales growth (Exhibit 4), representing the biggest benefit since 2011. Excluding FX/oil impacts, constant-currency sales growth for the S&P 500 ex. Fins. & Energy is expected to be +15% YoY (Exhibit 5), accelerating from the 13% growth last quarter.\n\nWhat is more surprising is that in a quarter when many predicted margins would be hit by surging input costs, not only was that not the case but companies once again posted skyhigh margins, with 2Q net margins (ex-Financials) jumping to a new high at 13.0%, topping last quarter’s 12.5%. This was consistent with BofA's Corporate Misery Indicator, which rose to a record high (“least miserable”) in 2Q, indicating it was among the most favorable macro environment for corporate margins in history since 1978!\n\nHow is this possible in a time when numerous commodity prices have hit never before seen levels? Simple: companies have experienced virtually no pushback to rising prices as most Americans can easily absorb the rampant inflation. Indeed, as IHS Markit Chief Economist Chris Williamsoncommented in todaythis is \"perhaps the strongest sellers’ market that we’ve seen since the survey began in 2007,with suppliers hiking prices for inputs into factories at the steepest rate yet recorded and manufacturers able to raise their selling prices to an unprecedented extent, as both suppliers and producers often encounter little price resistance from customers.\" It remains to be seen just how long such a \"seller's market\" will be the norm, although we expect it to reverse quite painfully once government handouts end.\nIn any case, that was the good news: now the badand that was summarized best by BofA's Savita Subramanian who wrote that \"we are starting to see the good inflation environment turning into a bad inflation environment with many companies citing accelerating cost inflation, particularly around wages.\"\nIndeed, as shown in the chart above, consensus margin expectations for 2H reflect this risk, with margins forecast to moderate to 12.6 % in 3Q and 12.5% in 4Q. But if cost pressure continues to accelerate, we could see more downside risk in 2H margins.\nAnd nobody captures this risk better than companies themselves: according to word counts of corporate earnings transcripts by BofA's Predictive Analytics team, mentions of “inflation” on 2Q earnings calls topped 1Q levels and jumped to a record high, based on BofA's Predictive Analytics team’s analysis. On a YoY basis, inflation mentions rose nearly 1100% YoY, outpacing the 900% increase we saw last quarter.\n\nNotably, labor-related mentions - i.e., discussion of rising wages - rose the most among inflation categories BofA tracks in 2Q, up 155% YoY. This compares to last quarter when labor-related mentions rose the least (+12% YoY), pointing to soaring wage pressure, and is why BofA remains cautious on labor-intensive Consumer Discretionary and Industrials.\n\nMeanwhile, supply-chain related mentions also more than doubled YoY (+106% vs. +17% YoY in 1Q). Both supply chain and labor related mentions rose to record highs in BofA data history since 2004.\n\nAnd before we dig through the actual earnings transcripts, we leave the most ominous finding for last: using earnings calls transcripts, BofA calculated sentiment for S&P500 companies that have reported this earnings season (it used Loughran McDonald's financial dictionary to calculate sentiment scores.) Overall, BofA found that corporate sentiment dipped from a record high, indicating peak corporate sentiment amid inflation concerns and rising cases of the Delta variant.\n\nSimilarly, companies mentions of business condition (ratio of mentions of “better” or “stronger” vs. “worse” or “weaker”) indicate weaker business conditions vs. the peak level last quarter. Mentions of optimism also declined from the peak levels in the prior two quarters.\n\nTo summarize: yes, Q2 earnings were a huge beat and margins were a record high... but it's all downhill from here as the \"bad inflation\" (to companies, and very good inflation to workers) is about to roll down the income statement, resulting in sharply lower margins and deteriorating earnings. And insiders know this well, which is why corporate sentiment has already rolled over and is down despite a true earnings bonanza, and is also why corporation optimism has moved sharply lower, a move which will accelerate to the downside as soon as margins are hit by surging wages and as soon companies can no longer pass through sharply higher input prices.\nFinally, courtesy of BofA, here is a snapshot of what some of the most notable companies just said about inflation, bad or otherwise:\nAmazon.com (Discretionary): “The other thing is wage pressure has become evident. We've talked about this a bit. The wage increase that we normally would do in October we pulled forward into May. We're spending a lot of money on signing and incentives. And while we have very good staffing levels, it's not without cost. It's a very competitive labor market out there and certainly the biggest contributor to inflationary pressures that we're seeing in the business.”\nNewell (Discretionary): “We expect Q3 to be the peak quarter for inflation pressure, which will significantly weigh on the company's margin performance.”\nIllinois Tool (Industrials): “We continue to expect price/cost impact to be EPS-neutral or better for the year. […] We continue to experience raw material cost increases, particularly in categories such as steel, resins and chemicals and now project raw material cost inflation at around 7% for the full year which is almost 5 percentage points higher than what we anticipated as the year began. And just for some perspective, this is roughly 2x what we experienced in the 2018 inflation/tariff cycle.”\nChurch & Dwight (Staples): “We now expect full year gross margin to be down 75 basis points. This represents an incremental impact from our last guidance due to broad-based inflation on raw materials and transportation costs.”\nInternational Paper (Materials): “We do expect further input cost inflation in the third quarter with substantial pressure on OCC and transportation costs.”\nHershey (Consumer Discretionary): “In the second half of the year, we expect increased packaging and freight costs to continue. We also expect labor costs to remain elevated as higher levels of marketplace attrition contribute to more overtime and accelerated hiring to keep pace with demand. While we expect more price realization in the second half versus the first half, we also expect less sales volume benefits... And then in addition, I think labor rates in general and labor availability in general are a pressure point beyond just volume. The market for labor is challenging. And so just like everyone, we want to make sure we are staying ahead of the curve on hiring, making sure our value proposition at our plants is attractive. And packaging inflation similar, packaging inflation we touched on a little bit on the last call. It's still a pressure point. I think we're still optimistic we're going to see that moderate as we go forward, but we haven't seen it yet. And so, it is a combination of those transitory costs on the back of the higher volume and a few things that are a little bit [stickier] here as we look across the balance of the year.”\nTeleflex (Health Care): “Any inflation that we saw, we saw it begin last year in transportation. So, that was already in our run rate. And we saw some modest inflation in some of our resins, but it was pretty – it's very manageable, and we're going to more than offset it with really positive pricing and building momentum in the quarter with that positive pricing.”\nLKQ Corp (Consumer Discretionary): “Across all of our segments, we are experiencing some level of supply chain shortages and disruptions. These disruptions are creating product scarcity and freight delays that are resulting in meaningful availability pressures in certain product lines. The supply chain challenges are also driving product inflation, which in turn, is generating the most robust pricing environment we've seen in years. Across all of our segments, we have been very effective in passing along these costs as witnessed by our margin performance. Alongside supply chain inflationary pressures, like many businesses across the globe, we are facing wage inflation and increased competition for labor.”\nMasco (Industrials): “We continue to see escalating inflation across most of our cost basket, including freight, resins, TiO2 and packaging. Inbound freight container costs nearly tripled during the quarter. We now expect our all-in cost inflation to be in the high single-digit range for the full year for both our Plumbing and Decorative segments, with low double-digit inflation in the second half of the year.\nInflation in coatings will likely be in the mid-teens later in the fourth quarter. To mitigate this inflation, we have secured price increases across both segments and are taking further pricing action across our business to address these continued cost escalations. We are also working with our suppliers, customers and internal teams to implement further productivity measures to help offset these costs. Despite the increased inflation, we still expect to achieve price/cost neutrality by year-end. While cost inflation has clearly been an issue, material availability has also impacted our business.”\nFortune Brands Home & Security (Industrials): “While inflation headwinds were anticipated, they continued to strengthen throughout the quarter. As I mentioned earlier, we are taking incremental actions during the second half of the year to offset increased inflation. […]Through this combination of cost and thoughtful pricing actions, we plan to offset all inflationary headwinds this year and expect to deliver 2021 operating margin improvement.”\nAvery Dennison (Materials): “Given the increasing inflationary pressures, we are redoubling our efforts on material re-engineering and again raising prices. We are targeting to close the inflation gap relative to mid last year by the fourth quarter.”\nIDEX Corp (Industrials):“We anticipated rising inflation as the global economy recovered, but like many, did not imagine the sharp rate of increase. This narrowed our spread between price capture and material costs, although we remain positive overall. Our teams leveraged the systematic investments we made a few years ago in pricing management and aggressively deployed two, sometimes three pricing adjustments with precision. We are on track to expand our price/cost spread to typical levels as we travel to the back half of the year.”\nOld Dominion Freight Lines (Industrials): “It's a tighter labor market than certainly we're used to. Of course, I've been here for a long time and I don't ever remember the growth percentages in the past that we've got today. So, it's definitely a bigger challenge than it's ever been.”\nMohawk (Consumer Discretionary): “We anticipate material and freight challenges will continue to impact our business in the third quarter. To compensate for material inflation, we have increased prices and we expect further increases will be required as our costs continue to rise”\nMondelez (Staples): “As we said many times, inflation and commodity costs are higher than we originally anticipated at the start of 2021, but we continue to believe that they are manageable. In terms of pricing and inflation, I would say there is going to be more in the second part of the year. To start with, our pipeline of commodities and FX has been advantageous in the first part of the year, and we expect some commodities and FX impact to be relatively higher in the second part. So there will be some more pressure in Q3 specifically, but we will continue to be very disciplined in terms of costs and pricing.”\nStarbucks (Consumer Discretionary): “While we're thrilled with our margin performance in Q3, we expect it to moderate slightly in Q4 primarily due to the growing impact of inflation coupled with incremental investments critical to our continued growth.”\n“So in Q3 we had outstanding performance, but within that we covered headwinds in the Americas business of about 70 basis points. And we expect headwinds related to rising costs and inflationary pressures to continue into Q4 which is reflected in the guidance that we've given.”\nSherwin-Williams (Materials): “Our gross margins were under considerable pressure in the quarter given the sustained higher raw material costs. However, as we have demonstrated in past inflationary cycles, we are fully committed to offsetting these costs, and we announced additional pricing actions in the quarter, which will be realized as the year goes on.”... “We anticipate year-over-year inflation in the third quarter to be higher than it was in the second quarter with only slight improvement in the fourth quarter as demand remains high.”\nWaste Management (Industrials): “It's no surprise to anyone who follows economic indicators that most businesses are experiencing inflation in their costs throughout 2021 and our business is no exception, particularly with regard to labor. We expect to overcome these pressures by increasing operating efficiencies and executing on our disciplined pricing programs.”\nRepublic (Industrials): “we're seeing very modest inflation in this year's economics; kind of do an annual increase and we give our people a fair increase every year. We expect that certainly to tick up next year, but to be more than offset by our ability to price through that. And so we think that inflation net-net will be margin expanding for us.”\nLamb Weston Holdings, Inc. (Staples): “As a result, we expect input cost inflation, especially for edible oils packaging and transportation to be a significant headwind for fiscal 2022. Our goal is to offset inflation using combination of levers including pricing. To that end, we just began implementing broad-based price increases in our Foodservice and Retail segments, and don't expect to see the most of their benefit until our fiscal third quarter.”\nIQVIA (Health Care): “it's no secret that given the strength of the industry backdrop, there's obviously strong competition for talent. […] Now does it cause a certain amount of anxiety in the industry? And yes, it's true. And has it caused some level of wage inflation? Yes, that is true. There is also a little bit of an uptick in attrition levels as a consequence of all of that. All of that is true... But again, we feel confident. We do not anticipate this to cause any significant – there will be some level of headwind to our margins, but we have so many programs and productivity measures and process improvement measures in place that we are confident we will overwhelm.”\nKimberly-Clark (Staples): “Obviously, given that amount and given our outlook, we are covering a significant portion of that, but we can't practically cover all of that this year […] And so, what I would say is, part one, our pricing implementation is largely on track and we expect to fully offset inflation over time. Not all this year, but over time.”\nStanley Black & Decker (Industrials): “We continue to see elevated commodity prices and now expect $260 million of commodity inflation in the second half versus our prior assumption of $210 million. In particular, elevated steel pricing is largely driving the $50 million increase. We are now in the full implementation mode and believe we should be in a position to offset approximately 50% of the 2021 headwind, netting material inflation and better price realization is a neutral effect versus the prior guidance. The goal is to have our actions in place during the third quarter, so the 2022 carryover benefits of price and margin actions fully offset the carryover inflation”\nPentair PLC (Industrials): “Regarding the current inflationary environment, we have implemented further price increases and we expect the price cost gap to further narrow in the second half.”... “Consistent with our guidance, the second quarter did not see price fully offset inflation as we saw higher inflation that we have continued to implement price increases to help offset. The second half should see price costs start to even out. But an unprecedented amount of material and wage inflation coupled with robust demand has contributed to price reading out at a slower pace. Our forecast reflects our expectations that material shortages and inflation are not going away nor will they improve materially.”\nFortive (Industrials): “Even though we are seeing a little bit of cost inflation, we're still going to be net – significantly net in a good shape relative to material cost reductions for the year. So material cost reductions will still be a profit improver for the year, even though we've seen a little bit more inflation than typical, we still are in a very good shape relative to price cost, not only because of price, but also because we've done a nice job on the cost reduction side as well.”\nColgate-Palmolive (Staples): “We expect raw material costs to remain elevated throughout 2021, but we do expect some sequential lessening of inflation as we get into the fourth quarter.”\nJohnson Controls (Industrials): “Although lead times and conversion cycles are stretching, we believe conditions will begin to improve over the next couple of quarters. We are successfully leveraging our pricing capabilities to offset inflation, and we still expect to remain price cost positive for the year.”\nUnited Parcel Service Inc (Industrials): “We know what happens in an inflationary environment, don't we? Somebody pays for it. It's usually the consumer, which means, right, that price increases get passed along all the way to the end to the consumer until the consumer says, ouch, I'm not going to buy any more. The consumer continues to buy. So there we are in the cycle, and this is a cycle, right. This is a cycle.”\nPackaging Corp of America (Materials): “These items were partially offset by higher operating costs of $0.57, primarily due to inflation-related increases in the areas of labor infringes, repairs, materials and supplies, recycled fiber cost, as well as other indirect and fixed cost areas Inflation associated with most of the operating costs as well as freight and logistics expenses is expected to continue.”\nCorning (Tech): “Now during the quarter, we continue to face supply chain disruptions and inflationary headwinds. Planning and increased output allowed us to reduce costly airfreight, but the sequential improvement was offset by increases in shipping rates and the cost of certain raw materials such as resin, a key component in our Optical and Life Sciences businesses. […] So right now, we're clearly facing a lot of supply chain disruptions and inflationary pressure. And what we saw in the first quarter was, of course, a lot of that relative to freight and logistics. We had plans to mitigate that. We actually did those mitigations. But then there were other things that occurred, particularly around increased resin cost. So as we think about the guide, in particular the guide for the third quarter, we thought it was prudent to assume that, that 150 basis points drag that's coming from those inflationary and supply chain logistics costs would continue.”\nIngersoll Rand Inc. (Industrials): “Since the end of Q1 of 2021 of this year, we have seen inflation and we call inflation here direct material and logistics, continue to increase, which is the reason why we acted on additional pricing actions. I'll say those pricing actions are offsetting the incremental inflation that we're expecting to see in the second half.”\nHartford (Financials): “As we listen to inflationary expectations, we expect some of those trends will be with us into the third quarter, fourth quarter. But I think that given our trends, our expectations to the year haven't changed materially and we're on top of our selections and I think we're in good shape as we move into Q3.”\nPulteGroup (Consumer Discretionary): “As reflected in the increases in our sales prices and gross margin, we've been able to pass on the meaningful cost inflation we have incurred over the course of the year. At this point, we now expect house costs to be up between 9% and 11% for the full year with the peak of certain costs, driven by lumber flowing through in the third and fourth quarters. Even with the ongoing rise in build costs, we still see opportunity for gross margins to move higher over the remaining two quarters of the year.”\nBoston Scientific (Health Care): “[We] expect slight improvements in second half gross margin compared to the first half, though still not at full year 2019 levels, as other headwinds remain, in particular, the lingering cost of running plants with COVID-specific measures, as well as some impact from inflation.”\nHasbro (Consumer Discretionary): “We talked earlier about ocean freight in some of our prepared remarks and we're seeing those costs are over four times higher than what we had been experiencing earlier or last year even. So, we expect a lot of those costs to continue. But between cost of sales and that, we do expect our gross margin to be slightly down from a year ago, but we do expect the price increases that we've taken to offset our increased costs”\nGeneral Electric Co (Industrials): “Looking forward to the second half of 2021 and into 2022, although inflation pressure is likely to increase particularly in Aviation and Renewables, we expect the net inflation impact to be limited.”\nOtis Worldwide Corp (Industrials): “This high inflationary environment that we're seeing should help us on Service pricing because most of our contracts in Europe and Americas have price escalators kind of built-in that are largely tied to labor inflation. And, historically, we've always had that lever but given low inflationary environment in the macro market, the prices don't always stick. And now, with this inflationary environment, we should have a greater ability to stick those prices, so that should help next year.”\nHoneywell (Industrials): “so everywhere in our books of business that we can, we continue to pass through the inflation that's being seen in the materials and also in the labor because in the projects businesses, labor is also important as well.”\nSchlumberger (Energy): “But I believe that the tool box we have and the professional and very experienced organization we have in our planning and supply chain and manufacturing organization that are used to manage some inflationary pressure has allowed us to mitigate and edged this inflationary pressure and contain cost inflation […] under our roofs.”\nCelanese (Materials): “But we did raise price more than we saw our materials increasing. And I think that's a question of mix. I mean what – we are in a very tight supply constrained situation. So we have been prioritizing our higher margin products and our higher market –higher margin region to really maximize the return that we get for the molecules thatwe have available to sell to the market.”\nArcher-Daniels Midland (Materials): “In our scenario, margins normalize, we have inflation and then we are able to offset a lot of that through growth and through productivity.”\nIntel (Tech): “Since April, we have seen supply chain inflation happening faster than we are electing to pass through to our customers, further impacting our second half gross margin outlook.”\nSouthwest Airlines (Industrials): “We are mindful of the tight job market, as well as general inflationary pressures. We expect to have wage rate inflation beyond our normal annual wage rate increases, as we want to be competitive to retain and attract talent, including the decision to increase the minimum hourly wage to $15 per hour across all workgroups, we now estimate, $5 million to $10 million of additional salary, wages, and benefits cost pressure in third quarter and approximately $15 million in fourth quarter.”\nGenuine Parts (Consumer Discretionary): “In the second quarter, there was significant pricing activity with our suppliers resulting in product cost inflation. We were positioned to pass these increases on to our customers and the impact of price inflation was neutral to gross margin. We estimate a 1.5% impact of inflation in automotive sales for the quarter and a 1% impact in industrial. Based on the current environment, we expect this to increase further through the second half of the year.”\nNucor (Materials): “So we'll see some price inflation that will cause working capital to go up further, but probably not at the same pace as we experienced in Q2.”\nPool (Consumer Discretionary): “Inflation, as we have previously mentioned, has been above average this year and is trending to 5% to 6% for the year in total. This has had no meaningful impact on demand and has passed through the channel as is typically the case.”\nNewmont Mining (Materials): “The impacts of the pandemic are also driving cost inflation around the globe. We are now expecting cost escalation of around 3% to 5% for materials, energy and labor. And we expect these pressures to continue through until at least the end of next year.\nFreeport-McMoRan (Materials): “Everyone is focused on inflation around the world and the impact on mining companies. And as Kathleen said, we've had higher energy costs, higher grinding material cost, but Josh Olmsted and our Americas team has just done a great job in helping offset that.”\nUnion Pacific (Industrials): “And as we experience a strong demand environment, our pricing actions continue to yield dollars in excess of inflation.”\nQuest Diagnostics (Health Care): “So there's nothing extraordinary in the back half of the year in terms of labor inflation.”\nMarsh & McLennan (Financials): “The pace of price increases continued to moderate, but still remains high, reflecting elevated loss activity and concerns about inflation and low interest rates.”\nAllegion PLC (Industrials): “Allegion is not immune to inflation and the supply chain constraints impacting industrial markets. Allegion navigated well during Q2, but these industry-wide constraints will persist for the remainder of the year and put pressure on margins for the short-term.”\n“We've seen an acceleration of inflation, predominantly in commodity costs, material components, freight, packaging, et cetera. It's continued to be a headwind. As you know, we're pretty aggressive moving on price and we're taking similar actions in the back half of this year. We've went ahead and announced a price increase that will take effect at the beginning of Q4. So, there's going to be some margin pressure, I would say, given the acceleration in inflation particularly in Q3.”\nWhirlpool (Consumer Discretionary): “Structural cost takeout actions, higher volumes and ongoing cost productivity initiatives delivered 550 basis points of net cost margin improvement. These margin benefits were partially offset by raw material inflation, particularly steel and resins, which resulted in an unfavorable impact of 400 basis points.”\nCSX Corp (Industrials): “The good news is we have secured adequate inventory and supply commitments for critical materials, and we've worked to lock in the vast majority of unit costs for 2021. Excluding locomotive fuel, expense inflation this quarter was just above 3% and we don't expect that to move much going into the second half.”\nNorthern (Financials): “Inflation is showing up in different areas. I mean every firm is dealing with talent issues and the pressure is there. We certainly see that and experience it and talking at management levels about how to address it. And the inflation we see across the business and different areas as well. And some of it is unit costs but some of it is just the increased cost of doing business. And we talked about the significant increase in technology oriented expenses that we're having. In some ways that's an inflation cost on the business. It's not just a unit price inflation but it's inflation in the overall cost of doing business. So, it's showing up in different ways across the organization.”\nBaker Hughes (Energy): “Although we have moved quickly to pass inflation on to our customers, there is a timing lag relative to the increase in costs.”\nJohnson & Johnson (Health Care): “We continue to expect in the back half of the year pressure in parts of our portfolio in terms of commodity inflation and distribution cost. We are prepared to absorb those.”\nChipotle Mexican Grill (Consumer Discretionary): “We anticipate these commodity headwinds will negatively impact the quarter by an additional 60 basis points to 80 basis points, essentially offsetting the benefit of menu price increases. This will result in food costs for Q3 being at or slightly above the percentage we saw in Q2. Over the next few quarters, we'll have greater visibility on how much of this inflation is permanent versus transitory, and we can take the appropriate actions as needed to help offset any lasting impacts.”\nDover (Industrials): “What we underestimated was the total cost impacts of a strained logistics system and tight labor market that shows no signs of abating. This has had two knock-on effects on our results. First, the absolute cost of inbound and outbound freight were materially higher; and second and more important, the costs associated with production line stoppages due to lack of labor and components caused by transit time uncertainty and overall supply chain tightness.”... “I think that there is an interesting argument, and I would agree with it that to the extent that labor inflation is durable and that supply chains, the issues that we're having in supply chains will improve, but not dramatically. There's an argument to be made that the returns on automation are going to be better than they've been over the last five to six years. And I would agree with that.”\nKansas City Southern (Industrials): “Core pricing and contract renewals were essentially in line with the first quarter, but we are clearly seeing inflationary pressures that will need to be addressed going forward. As we look into the back half of 2021, we would expect the auto chip shortage to continue to negatively impact our growth, with a strong bounce-back late in the year and into 2022 as auto demand continues to be extremely high and dealer inventories at all-time lows.”... “We've now got to step up in inflation. So, we need to kind of deal with that going forward because our long-term strategy has always been to price above the cost of inflation. But an interesting dynamic and even the fed looking at their long-term projections around inflation would suggest inflation is going to come back down in 2022. So, there are interesting discussions with customers to have and we're going to do our best to continue to make sure we cover cost increases in our business there.”\nPPG Industries Inc (Materials): “Due to supply disruptions, we experienced unprecedented levels of raw material and transportation costs that continually elevated as the quarter progressed. This drove raw material inflation to be up a mid to high-teen percentage on a year-over-year basis versus our original estimate of a high single-digit percentage increase.”... “Clearly this inflation cycle is much higher than anyone anticipated, and we're continuing on a business-by-business basis, working to secure further selling price increases. This includes executing additional pricing actions during the third quarter.”...“We now fully expect to offset raw material cost inflation in the fourth quarter on 2021 on a run rate basis.”...“But if we could get the overall base supply/demand (back in) balance, if you will, in our supply chain, I think prices would start to normalize somewhat. We don't see that happening in 2021. So right now, we're still anticipating significant inflation, when we said it's 20% in Q3 and we'll have a significant inflation in Q4. So for as far as we can currently look out, we're still looking at a pretty inflationary cycle.”\nFastenal (Industrials): “Price actions to-date have largely matched cost increases. There's a ton of inflation going on. There's inflation because of disruption and shipping,”... “The marketplace is still receptive to price actions and the tools and processes we have developed have been effective. Even so, given the rate of inflation, maintaining price cost parity will be a bigger challenge in the third quarter.”\nConAgra (Staples): “We expect the negative impact of the cost inflation to hit our financials before the beneficial impact of our responsive actions, including our pricing. This timing mismatch is expected to be particularly impactful in (fiscal) H1 and, more specifically, in (fiscal) Q1. The resulting pressure on our first half margins impact our full year profit […] Although the substantial increase in inflation over the last few months has negatively impacted our profit guidance for the (fiscal) year, we remain confident in the underlying strength of the business. […] Importantly, we expect that the impact of our aggressive mitigating actions will cause second half adjusted EPS to rebound, to be in line with what was assumed for (fiscal) H2 within our prior guidance.”... “When we initially gave our fiscal 2022 targets at our Investor Day in April of 2019, our models assumed an annual inflation rate of around 3%. At the time of our third quarter call, in April of 2021, we expected fiscal 2022 inflation to come in at twice that level around 6% […] We now currently expect fiscal 2022 inflation to come in around 9%. The difference between the 6% we expected a few months ago and the 9% we expect today equates to approximately $255 million in additional costs during fiscal 2022.”\nJPMorgan Chase (Financials): “In terms of inflation, I would say that we're not seeing inflation in our actuals. But obviously, your guess is as good as mine in terms of the future. But it would be reasonable to assume that that's going to be a little bit of a challenge... it won't make any difference as long as you have that strong growth in consumer there. Jobs are plentiful; wages are going up. These are all good things. And so, obviously, inflation could be worse than people think. I think it'll be a little bit worse than what the Fed thinks. I don't think it's all going to be temporary. But that doesn't matter if we have very strong growth.”\nMcCormick (Staples): “We're seeing broad-based inflation across our various commodities, packaging materials and transportation costs. To offset rising costs, we are raising prices where appropriate, but usually there is a lag time associated with pricing, particularly with how quickly costs are escalating. And therefore, most of our actions won't go into effect until late 2021.”\nPepsi (Staples): “We're seeing inflation in our business across many of our raw ingredients and some of our inputs in labor and freight and everything else. So, we operate in the same context. We feel quite comfortable or confident that through a combination of net revenue management initiatives and increased productivity, we can navigate this.”\nCintas (Industrials): “While some inflationary pressures increased certain costs, these were more than offset by increased revenue from businesses reopening or increasing capacity as COVID-19 case counts fell and restrictions on businesses were reduced.”\nZions (Financials): “This outlook does not reflect a significant change in inflation from what we've observed over the past several years which we believe is an emerging and increasingly important risk to our outlook.”... “But there is no softening in the concerns about supply chain or concerns about inflation. Those concerns are real. They're certainly remaining steady, if not building, in terms of the minds of business owners.”\nSVB Financial Group (Financials): “If we do see inflation, I actually think it's going to be modest, I don't think it's going to be something that would be a fundamental change that would cause the market to get overly spooked. But again, something to pay attention to, and that's just my own opinion.”\nWR Berkley (Financials): “We continue to be very focused on inflation. From our perspective, inflation is very much here. There're some people that talked about it being this transient that may be true. I'm not quite sure when people talk about transient, well, how long is transient, regardless the costs of things are up today. But even if you saw inflation return to a 2.5% or 3% level, we continue to believe that the 10-year at 130% or less doesn't make a whole lot of sense for a long run.”\nRobert Half (Industrials): “We're passing through the wage inflation that we're having and we've actually expanded our 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bros","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/801654582","repostId":"2155697398","repostType":4,"isVote":1,"tweetType":1,"viewCount":672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801652202,"gmtCreate":1627516220806,"gmtModify":1633764301110,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Now go go go","listText":"Now go go go","text":"Now go go go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/801652202","repostId":"2155697398","repostType":4,"isVote":1,"tweetType":1,"viewCount":972,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801173320,"gmtCreate":1627492117160,"gmtModify":1633764462303,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/801173320","repostId":"2154721924","repostType":4,"repost":{"id":"2154721924","kind":"highlight","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":1627486574,"share":"https://www.laohu8.com/m/news/2154721924?lang=zh_CN&edition=full","pubTime":"2021-07-28 23:36","market":"us","language":"en","title":"Why AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2154721924","media":"Tiger Newspress","summary":"AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expecte","content":"<p>AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.</p><p><blockquote>AMD周二晚间公布了好于预期的第二季度财务业绩，并发布了高于预期的第三季度指引，周三上午该公司股价走高。</blockquote></p><p> AMD reported quarterly earnings of 63 cents per share, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion. AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was&nbsp;higher than the estimate of $3.82 billion.</p><p><blockquote>AMD公布季度收益为每股63美分，超出预期的每股54美分。该公司公布季度营收为38.5亿美元，超出预期的36.2亿美元。AMD表示，预计第三季度营收将在40亿至42亿美元之间，高于预期的38.2亿美元。</blockquote></p><p> \"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said Lisa Su,&nbsp;president and CEO of AMD.</p><p><blockquote>AMD总裁兼首席执行官Lisa Su表示：“我们的业务在第二季度表现异常出色，收入和营业利润率同比翻了一番，盈利能力同比增长了两倍多。”</blockquote></p><p> <b>Analyst Assessment:</b>&nbsp;Rosenblatt analyst Hans Mosesmann maintained&nbsp;AMD&nbsp;with a Buy rating and raised&nbsp;the price target from&nbsp;$135&nbsp;to&nbsp;$150.</p><p><blockquote><b>分析员评估：</b>Rosenblatt分析师Hans Mosesmann维持AMD买入评级，并将目标价从135美元上调至150美元。</blockquote></p><p> Susquehanna analyst Christopher Rolland maintained&nbsp;AMD&nbsp;with a Positive rating and raised&nbsp;the price target from&nbsp;$125&nbsp;to&nbsp;$130.</p><p><blockquote>Susquehanna分析师Christopher Rolland维持AMD正面评级，并将目标价从125美元上调至130美元。</blockquote></p><p> <b>Price Action: </b>AMD has traded as high as $99.23 and as low as $67.02 over a 52-week period.</p><p><blockquote><b>价格走势：</b>AMD在52周内的交易价格最高为99.23美元，最低为67.02美元。</blockquote></p><p> At last check Wednesday, the stock was up 5% at $95.6.</p><p><blockquote>截至周三最后一次检查，该股上涨5%，至95.6美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a0dd3dd7be87bfa480b05a3c26ee3f62\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>Why AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</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\">\nWhy AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</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\">2021-07-28 23:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.</p><p><blockquote>AMD周二晚间公布了好于预期的第二季度财务业绩，并发布了高于预期的第三季度指引，周三上午该公司股价走高。</blockquote></p><p> AMD reported quarterly earnings of 63 cents per share, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion. AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was&nbsp;higher than the estimate of $3.82 billion.</p><p><blockquote>AMD公布季度收益为每股63美分，超出预期的每股54美分。该公司公布季度营收为38.5亿美元，超出预期的36.2亿美元。AMD表示，预计第三季度营收将在40亿至42亿美元之间，高于预期的38.2亿美元。</blockquote></p><p> \"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said Lisa Su,&nbsp;president and CEO of AMD.</p><p><blockquote>AMD总裁兼首席执行官Lisa Su表示：“我们的业务在第二季度表现异常出色，收入和营业利润率同比翻了一番，盈利能力同比增长了两倍多。”</blockquote></p><p> <b>Analyst Assessment:</b>&nbsp;Rosenblatt analyst Hans Mosesmann maintained&nbsp;AMD&nbsp;with a Buy rating and raised&nbsp;the price target from&nbsp;$135&nbsp;to&nbsp;$150.</p><p><blockquote><b>分析员评估：</b>Rosenblatt分析师Hans Mosesmann维持AMD买入评级，并将目标价从135美元上调至150美元。</blockquote></p><p> Susquehanna analyst Christopher Rolland maintained&nbsp;AMD&nbsp;with a Positive rating and raised&nbsp;the price target from&nbsp;$125&nbsp;to&nbsp;$130.</p><p><blockquote>Susquehanna分析师Christopher Rolland维持AMD正面评级，并将目标价从125美元上调至130美元。</blockquote></p><p> <b>Price Action: </b>AMD has traded as high as $99.23 and as low as $67.02 over a 52-week period.</p><p><blockquote><b>价格走势：</b>AMD在52周内的交易价格最高为99.23美元，最低为67.02美元。</blockquote></p><p> At last check Wednesday, the stock was up 5% at $95.6.</p><p><blockquote>截至周三最后一次检查，该股上涨5%，至95.6美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a0dd3dd7be87bfa480b05a3c26ee3f62\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMD":"美国超微公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154721924","content_text":"AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.\nAMD reported quarterly earnings of 63 cents per share, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion. AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was higher than the estimate of $3.82 billion.\n\"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said Lisa Su, president and CEO of AMD.\nAnalyst Assessment: Rosenblatt analyst Hans Mosesmann maintained AMD with a Buy rating and raised the price target from $135 to $150.\nSusquehanna analyst Christopher Rolland maintained AMD with a Positive rating and raised the price target from $125 to $130.\nPrice Action: AMD has traded as high as $99.23 and as low as $67.02 over a 52-week period.\nAt last check Wednesday, the stock was up 5% at $95.6.","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801179226,"gmtCreate":1627491925565,"gmtModify":1633764462625,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Like brothers&nbsp;","listText":"Like brothers&nbsp;","text":"Like brothers","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/801179226","repostId":"1134561674","repostType":4,"repost":{"id":"1134561674","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":1627487094,"share":"https://www.laohu8.com/m/news/1134561674?lang=zh_CN&edition=full","pubTime":"2021-07-28 23:44","market":"us","language":"en","title":"Bit Digital Popped nearly 50% to trigger fusing<blockquote>Bit Digital大涨近50%触发熔断</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1134561674","media":"Tiger Newspress","summary":"Bit Digital Popped nearly 50% to trigger fusing in Wednesday morning trading.\n\nBit Digital, Inc. and","content":"<p>Bit Digital Popped nearly 50% to trigger fusing&nbsp;in Wednesday morning trading.</p><p><blockquote>Bit Digital股价上涨近50%，在周三早盘交易中引发熔断。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b3b480bd525e488c041a9b1a6ac3e963\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Bit Digital, Inc. and Digihost Technology Inc. are pleased to announce that the Companies have entered into a second strategic co-mining agreement.&nbsp;Pursuant to the terms of the Agreement, Digihost will provide certain premises&nbsp;to Bit Digital for the operation of a 100 MW Bitcoin mining system&nbsp;to be delivered by Bit Digital for a term of two years.&nbsp;This expanded collaboration between Digihost and Bit Digital is expected to facilitate an additional increase in hashrate of approximately 2 EH between the companies, and a total increase in hashrate between the two companies of approximately 2.4 EH including the initial collaboration agreement that was previously announced onJune 10, 2021.</p><p><blockquote>Bit Digital，Inc.和Digihost Technology Inc.很高兴地宣布，两家公司已经签订了第二份战略联合采矿协议。根据协议条款，Digihost将向Bit Digital提供某些场所，用于运营Bit Digital交付的100兆瓦比特币采矿系统，为期两年。Digihost和Bit Digital之间的这种扩大合作预计将促进两家公司之间的hashrate额外增加约2 EH，两家公司之间的hashrate总增加约2.4 EH，包括之前于2021年6月10日宣布的初始合作协议。</blockquote></p><p> Under the terms of the Agreement, Digihost will provide power and management services for the operation of the Miners. In consideration for these services, after paying Digihost a competitive rate for power, Digihost and Bit Digital will participate in a profit-sharing arrangement based on a fixed distribution formula.&nbsp;It is expected that the Miners will be delivered and installed beginning inJanuary 2022.</p><p><blockquote>根据协议条款，Digihost将为矿工的运营提供电力和管理服务。考虑到这些服务，在向Digihost支付有竞争力的电费后，Digihost和Bit Digital将参与基于固定分配公式的利润分享安排。预计矿工将于2022年1月开始交付和安装。</blockquote></p><p> Bryan Bullett, Bit Digital's CEO, stated: \"By signing this agreement,we believe that Bit Digital has secured power and hosting sufficient to complete the migration of our current fleet toNorth Americain full, and additional capacity to accommodate expected miner purchases. As previously announced, we anticipate significant purchase activity in the coming months, due to spot market dislocation inChinaand our unique access to that market. This agreement with Digihost secures a key component of activating this opportunity, and is expected to enable rapid deployment of newly purchased miners. We are delighted to build on our existing collaboration with Digihost, and look forward to continued successes together.\"</p><p><blockquote>Bit Digital首席执行官Bryan Bullett表示：“通过签署这项协议，我们相信Bit Digital已获得足够的电力和托管能力，以完成我们当前机队向北美的全面迁移，并获得额外的容量来容纳预期的矿商采购。正如之前宣布的那样，由于中国现货市场的混乱以及我们对该市场的独特准入，我们预计未来几个月将出现大量采购活动。与Digihost的这项协议确保了激活这一机会的关键组成部分，预计将能够快速部署新购买的矿工。我们很高兴在与Digihost现有合作的基础上再接再厉，并期待共同继续取得成功。”</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>Bit Digital Popped nearly 50% to trigger fusing<blockquote>Bit Digital大涨近50%触发熔断</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\">\nBit Digital Popped nearly 50% to trigger fusing<blockquote>Bit Digital大涨近50%触发熔断</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\">2021-07-28 23:44</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Bit Digital Popped nearly 50% to trigger fusing&nbsp;in Wednesday morning trading.</p><p><blockquote>Bit Digital股价上涨近50%，在周三早盘交易中引发熔断。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b3b480bd525e488c041a9b1a6ac3e963\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Bit Digital, Inc. and Digihost Technology Inc. are pleased to announce that the Companies have entered into a second strategic co-mining agreement.&nbsp;Pursuant to the terms of the Agreement, Digihost will provide certain premises&nbsp;to Bit Digital for the operation of a 100 MW Bitcoin mining system&nbsp;to be delivered by Bit Digital for a term of two years.&nbsp;This expanded collaboration between Digihost and Bit Digital is expected to facilitate an additional increase in hashrate of approximately 2 EH between the companies, and a total increase in hashrate between the two companies of approximately 2.4 EH including the initial collaboration agreement that was previously announced onJune 10, 2021.</p><p><blockquote>Bit Digital，Inc.和Digihost Technology Inc.很高兴地宣布，两家公司已经签订了第二份战略联合采矿协议。根据协议条款，Digihost将向Bit Digital提供某些场所，用于运营Bit Digital交付的100兆瓦比特币采矿系统，为期两年。Digihost和Bit Digital之间的这种扩大合作预计将促进两家公司之间的hashrate额外增加约2 EH，两家公司之间的hashrate总增加约2.4 EH，包括之前于2021年6月10日宣布的初始合作协议。</blockquote></p><p> Under the terms of the Agreement, Digihost will provide power and management services for the operation of the Miners. In consideration for these services, after paying Digihost a competitive rate for power, Digihost and Bit Digital will participate in a profit-sharing arrangement based on a fixed distribution formula.&nbsp;It is expected that the Miners will be delivered and installed beginning inJanuary 2022.</p><p><blockquote>根据协议条款，Digihost将为矿工的运营提供电力和管理服务。考虑到这些服务，在向Digihost支付有竞争力的电费后，Digihost和Bit Digital将参与基于固定分配公式的利润分享安排。预计矿工将于2022年1月开始交付和安装。</blockquote></p><p> Bryan Bullett, Bit Digital's CEO, stated: \"By signing this agreement,we believe that Bit Digital has secured power and hosting sufficient to complete the migration of our current fleet toNorth Americain full, and additional capacity to accommodate expected miner purchases. As previously announced, we anticipate significant purchase activity in the coming months, due to spot market dislocation inChinaand our unique access to that market. This agreement with Digihost secures a key component of activating this opportunity, and is expected to enable rapid deployment of newly purchased miners. We are delighted to build on our existing collaboration with Digihost, and look forward to continued successes together.\"</p><p><blockquote>Bit Digital首席执行官Bryan Bullett表示：“通过签署这项协议，我们相信Bit Digital已获得足够的电力和托管能力，以完成我们当前机队向北美的全面迁移，并获得额外的容量来容纳预期的矿商采购。正如之前宣布的那样，由于中国现货市场的混乱以及我们对该市场的独特准入，我们预计未来几个月将出现大量采购活动。与Digihost的这项协议确保了激活这一机会的关键组成部分，预计将能够快速部署新购买的矿工。我们很高兴在与Digihost现有合作的基础上再接再厉，并期待共同继续取得成功。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTBT":"Bit Digital, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134561674","content_text":"Bit Digital Popped nearly 50% to trigger fusing in Wednesday morning trading.\n\nBit Digital, Inc. and Digihost Technology Inc. are pleased to announce that the Companies have entered into a second strategic co-mining agreement. Pursuant to the terms of the Agreement, Digihost will provide certain premises to Bit Digital for the operation of a 100 MW Bitcoin mining system to be delivered by Bit Digital for a term of two years. This expanded collaboration between Digihost and Bit Digital is expected to facilitate an additional increase in hashrate of approximately 2 EH between the companies, and a total increase in hashrate between the two companies of approximately 2.4 EH including the initial collaboration agreement that was previously announced onJune 10, 2021.\nUnder the terms of the Agreement, Digihost will provide power and management services for the operation of the Miners. In consideration for these services, after paying Digihost a competitive rate for power, Digihost and Bit Digital will participate in a profit-sharing arrangement based on a fixed distribution formula. It is expected that the Miners will be delivered and installed beginning inJanuary 2022.\nBryan Bullett, Bit Digital's CEO, stated: \"By signing this agreement,we believe that Bit Digital has secured power and hosting sufficient to complete the migration of our current fleet toNorth Americain full, and additional capacity to accommodate expected miner purchases. As previously announced, we anticipate significant purchase activity in the coming months, due to spot market dislocation inChinaand our unique access to that market. This agreement with Digihost secures a key component of activating this opportunity, and is expected to enable rapid deployment of newly purchased miners. We are delighted to build on our existing collaboration with Digihost, and look forward to continued successes together.\"","news_type":1,"symbols_score_info":{"BTBT":0.9}},"isVote":1,"tweetType":1,"viewCount":771,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801179947,"gmtCreate":1627491838489,"gmtModify":1633764463210,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"That’s good&nbsp;","listText":"That’s good&nbsp;","text":"That’s good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/801179947","repostId":"2154721924","repostType":4,"repost":{"id":"2154721924","kind":"highlight","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":1627486574,"share":"https://www.laohu8.com/m/news/2154721924?lang=zh_CN&edition=full","pubTime":"2021-07-28 23:36","market":"us","language":"en","title":"Why AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2154721924","media":"Tiger Newspress","summary":"AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expecte","content":"<p>AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.</p><p><blockquote>AMD周二晚间公布了好于预期的第二季度财务业绩，并发布了高于预期的第三季度指引，周三上午该公司股价走高。</blockquote></p><p> AMD reported quarterly earnings of 63 cents per share, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion. AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was&nbsp;higher than the estimate of $3.82 billion.</p><p><blockquote>AMD公布季度收益为每股63美分，超出预期的每股54美分。该公司公布季度营收为38.5亿美元，超出预期的36.2亿美元。AMD表示，预计第三季度营收将在40亿至42亿美元之间，高于预期的38.2亿美元。</blockquote></p><p> \"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said Lisa Su,&nbsp;president and CEO of AMD.</p><p><blockquote>AMD总裁兼首席执行官Lisa Su表示：“我们的业务在第二季度表现异常出色，收入和营业利润率同比翻了一番，盈利能力同比增长了两倍多。”</blockquote></p><p> <b>Analyst Assessment:</b>&nbsp;Rosenblatt analyst Hans Mosesmann maintained&nbsp;AMD&nbsp;with a Buy rating and raised&nbsp;the price target from&nbsp;$135&nbsp;to&nbsp;$150.</p><p><blockquote><b>分析员评估：</b>Rosenblatt分析师Hans Mosesmann维持AMD买入评级，并将目标价从135美元上调至150美元。</blockquote></p><p> Susquehanna analyst Christopher Rolland maintained&nbsp;AMD&nbsp;with a Positive rating and raised&nbsp;the price target from&nbsp;$125&nbsp;to&nbsp;$130.</p><p><blockquote>Susquehanna分析师Christopher Rolland维持AMD正面评级，并将目标价从125美元上调至130美元。</blockquote></p><p> <b>Price Action: </b>AMD has traded as high as $99.23 and as low as $67.02 over a 52-week period.</p><p><blockquote><b>价格走势：</b>AMD在52周内的交易价格最高为99.23美元，最低为67.02美元。</blockquote></p><p> At last check Wednesday, the stock was up 5% at $95.6.</p><p><blockquote>截至周三最后一次检查，该股上涨5%，至95.6美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a0dd3dd7be87bfa480b05a3c26ee3f62\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>Why AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</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\">\nWhy AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</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\">2021-07-28 23:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.</p><p><blockquote>AMD周二晚间公布了好于预期的第二季度财务业绩，并发布了高于预期的第三季度指引，周三上午该公司股价走高。</blockquote></p><p> AMD reported quarterly earnings of 63 cents per share, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion. AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was&nbsp;higher than the estimate of $3.82 billion.</p><p><blockquote>AMD公布季度收益为每股63美分，超出预期的每股54美分。该公司公布季度营收为38.5亿美元，超出预期的36.2亿美元。AMD表示，预计第三季度营收将在40亿至42亿美元之间，高于预期的38.2亿美元。</blockquote></p><p> \"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said Lisa Su,&nbsp;president and CEO of AMD.</p><p><blockquote>AMD总裁兼首席执行官Lisa Su表示：“我们的业务在第二季度表现异常出色，收入和营业利润率同比翻了一番，盈利能力同比增长了两倍多。”</blockquote></p><p> <b>Analyst Assessment:</b>&nbsp;Rosenblatt analyst Hans Mosesmann maintained&nbsp;AMD&nbsp;with a Buy rating and raised&nbsp;the price target from&nbsp;$135&nbsp;to&nbsp;$150.</p><p><blockquote><b>分析员评估：</b>Rosenblatt分析师Hans Mosesmann维持AMD买入评级，并将目标价从135美元上调至150美元。</blockquote></p><p> Susquehanna analyst Christopher Rolland maintained&nbsp;AMD&nbsp;with a Positive rating and raised&nbsp;the price target from&nbsp;$125&nbsp;to&nbsp;$130.</p><p><blockquote>Susquehanna分析师Christopher Rolland维持AMD正面评级，并将目标价从125美元上调至130美元。</blockquote></p><p> <b>Price Action: </b>AMD has traded as high as $99.23 and as low as $67.02 over a 52-week period.</p><p><blockquote><b>价格走势：</b>AMD在52周内的交易价格最高为99.23美元，最低为67.02美元。</blockquote></p><p> At last check Wednesday, the stock was up 5% at $95.6.</p><p><blockquote>截至周三最后一次检查，该股上涨5%，至95.6美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a0dd3dd7be87bfa480b05a3c26ee3f62\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMD":"美国超微公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154721924","content_text":"AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.\nAMD reported quarterly earnings of 63 cents per share, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion. AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was higher than the estimate of $3.82 billion.\n\"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said Lisa Su, president and CEO of AMD.\nAnalyst Assessment: Rosenblatt analyst Hans Mosesmann maintained AMD with a Buy rating and raised the price target from $135 to $150.\nSusquehanna analyst Christopher Rolland maintained AMD with a Positive rating and raised the price target from $125 to $130.\nPrice Action: AMD has traded as high as $99.23 and as low as $67.02 over a 52-week period.\nAt last check Wednesday, the stock was up 5% at 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that it will rally&nbsp;","listText":"Good that it will rally&nbsp;","text":"Good that it will rally","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/178315489","repostId":"1102737002","repostType":4,"repost":{"id":"1102737002","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":1626787848,"share":"https://www.laohu8.com/m/news/1102737002?lang=zh_CN&edition=full","pubTime":"2021-07-20 21:30","market":"us","language":"en","title":"Stocks open slightly higher in attempt to bounce back from Monday selloff<blockquote>股市小幅高开，试图从周一的抛售中反弹</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1102737002","media":"Tiger Newspress","summary":"(July 20) Wall Street’s main indexes opened higher on Tuesday, as economically sensitive stocks rebo","content":"<p>(July 20)&nbsp;Wall Street’s main indexes opened higher on Tuesday, as economically sensitive stocks rebounded following a sharp selloff in the previous session, while shares of IBM jumped on strong second-quarter results.</p><p><blockquote>（7月20日）华尔街主要指数周二高开，对经济敏感的股票在前一交易日大幅抛售后反弹，而IBM股价因强劲的第二季度业绩而上涨。</blockquote></p><p> Chinese education&nbsp;stocks&nbsp;rally, Blockchain stocks plunged.</p><p><blockquote>中国教育股上涨，区块链股暴跌。</blockquote></p><p> New Shepard capsule returns to Earth safely.&nbsp;Blue Origin Becomes the First Company to Take a Paying Passenger to Space.&nbsp;Amzon&nbsp;stock&nbsp;fell&nbsp;0.48%&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>新谢泼德太空舱安全返回地球。蓝色起源成为第一家将付费乘客送上太空的公司。亚马逊股价早盘下跌0。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f39d7260da8bf4b4752067a47fef692b\" tg-width=\"304\" tg-height=\"165\" referrerpolicy=\"no-referrer\"><img 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21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(July 20)&nbsp;Wall Street’s main indexes opened higher on Tuesday, as economically sensitive stocks rebounded following a sharp selloff in the previous session, while shares of IBM jumped on strong second-quarter results.</p><p><blockquote>（7月20日）华尔街主要指数周二高开，对经济敏感的股票在前一交易日大幅抛售后反弹，而IBM股价因强劲的第二季度业绩而上涨。</blockquote></p><p> Chinese education&nbsp;stocks&nbsp;rally, Blockchain stocks plunged.</p><p><blockquote>中国教育股上涨，区块链股暴跌。</blockquote></p><p> New Shepard capsule returns to Earth safely.&nbsp;Blue Origin Becomes the First Company to Take a Paying Passenger to Space.&nbsp;Amzon&nbsp;stock&nbsp;fell&nbsp;0.48%&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>新谢泼德太空舱安全返回地球。蓝色起源成为第一家将付费乘客送上太空的公司。亚马逊股价早盘下跌0。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f39d7260da8bf4b4752067a47fef692b\" tg-width=\"304\" tg-height=\"165\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/cb77d3a02961a8a78cc8ac8ac2dc9f05\" tg-width=\"306\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0c4eddca19a77e87393f2b94d50383e9\" tg-width=\"709\" tg-height=\"547\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102737002","content_text":"(July 20) Wall Street’s main indexes opened higher on Tuesday, as economically sensitive stocks rebounded following a sharp selloff in the previous session, while shares of IBM jumped on strong second-quarter results.\nChinese education stocks rally, Blockchain stocks plunged.\nNew Shepard capsule returns to Earth safely. Blue Origin 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results.</p><p><blockquote>（7月20日）华尔街主要指数周二高开，对经济敏感的股票在前一交易日大幅抛售后反弹，而IBM股价因强劲的第二季度业绩而上涨。</blockquote></p><p> Chinese education&nbsp;stocks&nbsp;rally, Blockchain stocks plunged.</p><p><blockquote>中国教育股上涨，区块链股暴跌。</blockquote></p><p> New Shepard capsule returns to Earth safely.&nbsp;Blue Origin Becomes the First Company to Take a Paying Passenger to Space.&nbsp;Amzon&nbsp;stock&nbsp;fell&nbsp;0.48%&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>新谢泼德太空舱安全返回地球。蓝色起源成为第一家将付费乘客送上太空的公司。亚马逊股价早盘下跌0。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f39d7260da8bf4b4752067a47fef692b\" tg-width=\"304\" tg-height=\"165\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/cb77d3a02961a8a78cc8ac8ac2dc9f05\" tg-width=\"306\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0c4eddca19a77e87393f2b94d50383e9\" tg-width=\"709\" tg-height=\"547\" 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks open slightly higher in attempt to bounce back from Monday selloff<blockquote>股市小幅高开，试图从周一的抛售中反弹</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\">2021-07-20 21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(July 20)&nbsp;Wall Street’s main indexes opened higher on Tuesday, as economically sensitive stocks rebounded following a sharp selloff in the previous session, while shares of IBM jumped on strong second-quarter results.</p><p><blockquote>（7月20日）华尔街主要指数周二高开，对经济敏感的股票在前一交易日大幅抛售后反弹，而IBM股价因强劲的第二季度业绩而上涨。</blockquote></p><p> Chinese education&nbsp;stocks&nbsp;rally, Blockchain stocks plunged.</p><p><blockquote>中国教育股上涨，区块链股暴跌。</blockquote></p><p> New Shepard capsule returns to Earth safely.&nbsp;Blue Origin Becomes the First Company to Take a Paying Passenger to Space.&nbsp;Amzon&nbsp;stock&nbsp;fell&nbsp;0.48%&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>新谢泼德太空舱安全返回地球。蓝色起源成为第一家将付费乘客送上太空的公司。亚马逊股价早盘下跌0。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f39d7260da8bf4b4752067a47fef692b\" tg-width=\"304\" tg-height=\"165\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/cb77d3a02961a8a78cc8ac8ac2dc9f05\" tg-width=\"306\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0c4eddca19a77e87393f2b94d50383e9\" tg-width=\"709\" tg-height=\"547\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102737002","content_text":"(July 20) Wall Street’s main indexes opened higher on Tuesday, as economically sensitive stocks rebounded following a sharp selloff in the previous session, while shares of IBM jumped on strong second-quarter results.\nChinese education stocks rally, Blockchain stocks plunged.\nNew Shepard capsule returns to Earth safely. Blue Origin Becomes the First Company to Take a Paying Passenger to Space. Amzon stock fell 0.48% in morning trading.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":510,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178317616,"gmtCreate":1626788253135,"gmtModify":1633771045732,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/178317616","repostId":"1105124055","repostType":4,"isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801173320,"gmtCreate":1627492117160,"gmtModify":1633764462303,"author":{"id":"3568893769658331","authorId":"3568893769658331","name":"Idl3mind","avatar":"https://static.tigerbbs.com/73c568907b1cd98414bc36c7c2df4f1a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568893769658331","idStr":"3568893769658331"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/801173320","repostId":"2154721924","repostType":4,"repost":{"id":"2154721924","kind":"highlight","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":1627486574,"share":"https://www.laohu8.com/m/news/2154721924?lang=zh_CN&edition=full","pubTime":"2021-07-28 23:36","market":"us","language":"en","title":"Why AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2154721924","media":"Tiger Newspress","summary":"AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expecte","content":"<p>AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.</p><p><blockquote>AMD周二晚间公布了好于预期的第二季度财务业绩，并发布了高于预期的第三季度指引，周三上午该公司股价走高。</blockquote></p><p> AMD reported quarterly earnings of 63 cents per share, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion. AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was&nbsp;higher than the estimate of $3.82 billion.</p><p><blockquote>AMD公布季度收益为每股63美分，超出预期的每股54美分。该公司公布季度营收为38.5亿美元，超出预期的36.2亿美元。AMD表示，预计第三季度营收将在40亿至42亿美元之间，高于预期的38.2亿美元。</blockquote></p><p> \"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said Lisa Su,&nbsp;president and CEO of AMD.</p><p><blockquote>AMD总裁兼首席执行官Lisa Su表示：“我们的业务在第二季度表现异常出色，收入和营业利润率同比翻了一番，盈利能力同比增长了两倍多。”</blockquote></p><p> <b>Analyst Assessment:</b>&nbsp;Rosenblatt analyst Hans Mosesmann maintained&nbsp;AMD&nbsp;with a Buy rating and raised&nbsp;the price target from&nbsp;$135&nbsp;to&nbsp;$150.</p><p><blockquote><b>分析员评估：</b>Rosenblatt分析师Hans Mosesmann维持AMD买入评级，并将目标价从135美元上调至150美元。</blockquote></p><p> Susquehanna analyst Christopher Rolland maintained&nbsp;AMD&nbsp;with a Positive rating and raised&nbsp;the price target from&nbsp;$125&nbsp;to&nbsp;$130.</p><p><blockquote>Susquehanna分析师Christopher Rolland维持AMD正面评级，并将目标价从125美元上调至130美元。</blockquote></p><p> <b>Price Action: </b>AMD has traded as high as $99.23 and as low as $67.02 over a 52-week period.</p><p><blockquote><b>价格走势：</b>AMD在52周内的交易价格最高为99.23美元，最低为67.02美元。</blockquote></p><p> At last check Wednesday, the stock was up 5% at $95.6.</p><p><blockquote>截至周三最后一次检查，该股上涨5%，至95.6美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a0dd3dd7be87bfa480b05a3c26ee3f62\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>Why AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</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\">\nWhy AMD's Stock Is Trading Higher Today<blockquote>为什么AMD的股票今天走高</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\">2021-07-28 23:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.</p><p><blockquote>AMD周二晚间公布了好于预期的第二季度财务业绩，并发布了高于预期的第三季度指引，周三上午该公司股价走高。</blockquote></p><p> AMD reported quarterly earnings of 63 cents per share, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion. AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was&nbsp;higher than the estimate of $3.82 billion.</p><p><blockquote>AMD公布季度收益为每股63美分，超出预期的每股54美分。该公司公布季度营收为38.5亿美元，超出预期的36.2亿美元。AMD表示，预计第三季度营收将在40亿至42亿美元之间，高于预期的38.2亿美元。</blockquote></p><p> \"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said Lisa Su,&nbsp;president and CEO of AMD.</p><p><blockquote>AMD总裁兼首席执行官Lisa Su表示：“我们的业务在第二季度表现异常出色，收入和营业利润率同比翻了一番，盈利能力同比增长了两倍多。”</blockquote></p><p> <b>Analyst Assessment:</b>&nbsp;Rosenblatt analyst Hans Mosesmann maintained&nbsp;AMD&nbsp;with a Buy rating and raised&nbsp;the price target from&nbsp;$135&nbsp;to&nbsp;$150.</p><p><blockquote><b>分析员评估：</b>Rosenblatt分析师Hans Mosesmann维持AMD买入评级，并将目标价从135美元上调至150美元。</blockquote></p><p> Susquehanna analyst Christopher Rolland maintained&nbsp;AMD&nbsp;with a Positive rating and raised&nbsp;the price target from&nbsp;$125&nbsp;to&nbsp;$130.</p><p><blockquote>Susquehanna分析师Christopher Rolland维持AMD正面评级，并将目标价从125美元上调至130美元。</blockquote></p><p> <b>Price Action: </b>AMD has traded as high as $99.23 and as low as $67.02 over a 52-week period.</p><p><blockquote><b>价格走势：</b>AMD在52周内的交易价格最高为99.23美元，最低为67.02美元。</blockquote></p><p> At last check Wednesday, the stock was up 5% at $95.6.</p><p><blockquote>截至周三最后一次检查，该股上涨5%，至95.6美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a0dd3dd7be87bfa480b05a3c26ee3f62\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMD":"美国超微公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154721924","content_text":"AMD is trading higher Wednesday morning after the company late Tuesday announced better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.\nAMD reported quarterly earnings of 63 cents per share, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion. AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was higher than the estimate of $3.82 billion.\n\"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said Lisa Su, president and CEO of AMD.\nAnalyst Assessment: Rosenblatt analyst Hans Mosesmann maintained AMD with a Buy rating and raised the price target from $135 to $150.\nSusquehanna analyst Christopher Rolland maintained AMD with a Positive rating and raised the price target from $125 to $130.\nPrice Action: AMD has traded as high as $99.23 and as low as $67.02 over a 52-week period.\nAt last check Wednesday, the stock was up 5% at $95.6.","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}