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2021-12-07

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Stocks linked to the reopening of the economy gained on Monday<blockquote>与经济重新开放相关的股票周一上涨</blockquote>

2021-10-06

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2021-10-01

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Airline and Cruise Line stocks dipped in morning trading<blockquote>航空和邮轮股票在早盘交易中下跌</blockquote>

2021-09-30

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2021-09-21

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Market sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%<blockquote>市场抛售加剧，道琼斯指数下跌 650 点，标普500下跌 2%</blockquote>

2021-09-14

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2021-08-27

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2021-08-20

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2021-08-19

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2021-08-18

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2021-08-15

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Dow, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么令人兴奋。</blockquote>

2021-08-11

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2021-08-10

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Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>

2021-08-09

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2021-08-07

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20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</blockquote>

2021-08-04

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2021-08-04

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2021-08-02

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2021-08-01

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You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>

2021-07-31

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pls.","listText":"Like pls.","text":"Like pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/606922631","repostId":"1189410190","repostType":4,"repost":{"id":"1189410190","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":1638804387,"share":"https://www.laohunote.com/m/news/1189410190?lang=zh_CN&edition=full","pubTime":"2021-12-06 23:26","market":"us","language":"en","title":"Stocks linked to the reopening of the economy gained on Monday<blockquote>与经济重新开放相关的股票周一上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189410190","media":"Tiger Newspress","summary":"Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise 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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\">\nStocks linked to the reopening of the economy gained on Monday<blockquote>与经济重新开放相关的股票周一上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-06 23:26</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines&nbsp;and&nbsp;travel booking stocks&nbsp;jumped&nbsp;in morning trading.</p><p><blockquote>与经济重新开放相关的股票周一上涨.航空公司、邮轮公司和旅游预订股在早盘交易中上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/651aa4b1311ccf3c19aeb54b31cfa75d\" tg-width=\"410\" tg-height=\"485\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f544513dbaea07f8bfb6ef95f4787209\" tg-width=\"416\" tg-height=\"188\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f38b5565430c470461254d0b06da3752\" tg-width=\"405\" tg-height=\"178\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SAVE":"Spirit Airlines","RCL":"皇家加勒比邮轮","EXPE":"Expedia","NCLH":"挪威邮轮","ABNB":"爱彼迎","DAL":"达美航空","JBLU":"捷蓝航空","AAL":"美国航空","CCL":"嘉年华邮轮","BA":"波音","LUV":"西南航空","ALK":"阿拉斯加航空集团有限公司","UAL":"联合大陆航空","BKNG":"Booking Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189410190","content_text":"Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines and travel booking stocks jumped in morning 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pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/865744080","repostId":"1104573734","repostType":2,"repost":{"id":"1104573734","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":1633012323,"share":"https://www.laohunote.com/m/news/1104573734?lang=zh_CN&edition=full","pubTime":"2021-09-30 22:32","market":"us","language":"en","title":"Airline and Cruise Line stocks dipped in morning trading<blockquote>航空和邮轮股票在早盘交易中下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104573734","media":"Tiger Newspress","summary":"Airline and Cruise Line stocks dipped in morning trading.Boeing,Southwest Airlines,Delta Air,United ","content":"<p>Airline and Cruise Line stocks dipped in morning trading.Boeing,Southwest Airlines,Delta Air,United Airlines&nbsp;and&nbsp;American airlines&nbsp;fell about&nbsp;2%.</p><p><blockquote>航空和邮轮股票在早盘交易中下跌.波音、西南航空、达美航空、联合航空公司和美国航空下跌约2%。</blockquote></p><p> Shares of cruise operators Norwegian Cruise Line,Carnival Corp and Royal Caribbean Cruises Ltd&nbsp;fell about&nbsp;3%.</p><p><blockquote>邮轮运营商挪威邮轮公司、嘉年华公司和皇家加勒比邮轮有限公司的股价下跌约 3%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f4692c3e9fbfa6d94939481f7c459056\" tg-width=\"404\" tg-height=\"477\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/03a9b400a495053c36d7710fd38bad85\" tg-width=\"403\" tg-height=\"184\" 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>Airline and Cruise Line stocks dipped in morning trading<blockquote>航空和邮轮股票在早盘交易中下跌</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; 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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\">\nAirline and Cruise Line stocks dipped in morning trading<blockquote>航空和邮轮股票在早盘交易中下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-30 22:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Airline and Cruise Line stocks dipped in morning trading.Boeing,Southwest Airlines,Delta Air,United Airlines&nbsp;and&nbsp;American airlines&nbsp;fell about&nbsp;2%.</p><p><blockquote>航空和邮轮股票在早盘交易中下跌.波音、西南航空、达美航空、联合航空公司和美国航空下跌约2%。</blockquote></p><p> Shares of cruise operators Norwegian Cruise Line,Carnival Corp and Royal Caribbean Cruises Ltd&nbsp;fell about&nbsp;3%.</p><p><blockquote>邮轮运营商挪威邮轮公司、嘉年华公司和皇家加勒比邮轮有限公司的股价下跌约 3%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f4692c3e9fbfa6d94939481f7c459056\" tg-width=\"404\" tg-height=\"477\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/03a9b400a495053c36d7710fd38bad85\" tg-width=\"403\" tg-height=\"184\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAL":"美国航空","RCL":"皇家加勒比邮轮","DAL":"达美航空","NCLH":"挪威邮轮","UAL":"联合大陆航空","ALK":"阿拉斯加航空集团有限公司","LUV":"西南航空","BA":"波音","CCL":"嘉年华邮轮"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104573734","content_text":"Airline and Cruise Line stocks dipped in morning trading.Boeing,Southwest Airlines,Delta Air,United Airlines and American airlines fell about 2%.\nShares of cruise operators Norwegian Cruise Line,Carnival Corp and Royal Caribbean Cruises Ltd fell about 3%.","news_type":1,"symbols_score_info":{"AAL":0.9,"NCLH":0.9,"CCL":0.9,"BA":0.9,"UAL":0.9,"ALK":0.9,"RCL":0.9,"LUV":0.9,"DAL":0.9}},"isVote":1,"tweetType":1,"viewCount":3174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865485997,"gmtCreate":1633011063042,"gmtModify":1633011203279,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like pls.","listText":"Like pls.","text":"Like 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please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/860635477","repostId":"1124728794","repostType":4,"repost":{"id":"1124728794","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":1632154404,"share":"https://www.laohunote.com/m/news/1124728794?lang=zh_CN&edition=full","pubTime":"2021-09-21 00:13","market":"us","language":"en","title":"Market sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%<blockquote>市场抛售加剧，道琼斯指数下跌 650 点，标普500下跌 2%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1124728794","media":"Tiger Newspress","summary":"(Sept 21)&nbsp;Market sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%.","content":"<p>(Sept 21)&nbsp;Market sell-off worsens with Dow dropping 650 points, S&amp;P 500 losing 2%.</p><p><blockquote>（9月21日）市场抛售加剧，道琼斯指数下跌650点，标普500下跌2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b1aff42b5f28f13e23dc15c6bee909d3\" tg-width=\"350\" tg-height=\"130\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%<blockquote>市场抛售加剧，道琼斯指数下跌 650 点，标普500下跌 2%</blockquote></title>\n<style 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#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\">\nMarket sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%<blockquote>市场抛售加剧，道琼斯指数下跌 650 点，标普500下跌 2%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-21 00:13</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Sept 21)&nbsp;Market sell-off worsens with Dow dropping 650 points, S&amp;P 500 losing 2%.</p><p><blockquote>（9月21日）市场抛售加剧，道琼斯指数下跌650点，标普500下跌2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b1aff42b5f28f13e23dc15c6bee909d3\" tg-width=\"350\" tg-height=\"130\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124728794","content_text":"(Sept 21) Market sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2796,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886559284,"gmtCreate":1631607946448,"gmtModify":1631886372264,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and 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comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/838675532","repostId":"2160798679","repostType":2,"isVote":1,"tweetType":1,"viewCount":2731,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838918677,"gmtCreate":1629364511699,"gmtModify":1631886372314,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like please.","listText":"Like please.","text":"Like please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838918677","repostId":"1139347294","repostType":4,"isVote":1,"tweetType":1,"viewCount":2668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833602292,"gmtCreate":1629232910916,"gmtModify":1631886372328,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/833602292","repostId":"1174691535","repostType":4,"isVote":1,"tweetType":1,"viewCount":2963,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830938417,"gmtCreate":1628998956939,"gmtModify":1631886372347,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/830938417","repostId":"1144073354","repostType":4,"repost":{"id":"1144073354","kind":"news","pubTimestamp":1628904044,"share":"https://www.laohunote.com/m/news/1144073354?lang=zh_CN&edition=full","pubTime":"2021-08-14 09:20","market":"us","language":"en","title":"Dow, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么令人兴奋。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144073354","media":"Barrons","summary":"Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should ","content":"<p>Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should hope it stays that way.</p><p><blockquote>冒险。兴奋。最近股市似乎并不渴望这些东西。投资者应该希望它能保持这种状态。</blockquote></p><p> It wasn’t quite like watching paint dry this past week, but it wasn’t that far off, either. Earnings reports were few and far between, the most prominent coming from Walt Disney (ticker: DIS) and eBay (EBAY). The economic news, including July’s consumer-price data, didn’t contain any shockers. And while the S&amp;P 500 closed the week on a streak of four new highs, one of them was by less than a quarter of&nbsp;a point. The index rose 0.7%, to 4468.00, while the&nbsp;Dow Jones Industrial Average&nbsp;gained 306.87 points, or 0.9%, to 35,515.38. The&nbsp;Nasdaq Composite&nbsp;dipped 0.1%. to 14,822.90.</p><p><blockquote>在过去的一周里，这并不像是看着油漆变干，但也不远了。收益报告很少，其中最突出的来自华特迪士尼（股票代码：DIS）和 eBay（EBAY）。包括 7 月份消费者价格数据在内的经济新闻没有任何令人震惊的消息。虽然标普500本周连续创下四个新高，但其中一个高点不到四分之一个百分点。该指数上涨 0.7%，至 4468.00 点；道琼斯工业平均指数上涨 306.87 点，或 0.9%，至 35,515.38 点。纳斯达克综合指数下跌 0.1%。至14,822.90。</blockquote></p><p> Exuberance this ain’t.</p><p><blockquote>这不是繁荣。</blockquote></p><p> <b>Why Stock Prices Are Poised to Keep Rising</b></p><p><blockquote><b>为什么股价有望继续上涨</b></blockquote></p><p> Still, there was some action underneath the surface. Tech,particularly chip stockslikeMicron Technology(MU),Lam Research(LRCX), andApplied Materials(AMAT), took it on the chin, while banks, includingGoldman Sachs Group(GS), and industrials such asCaterpillar(CAT), soared. And theInvesco S&amp;P 500 Equal Weightexchange-traded fund (RSP) gained 0.8% on the week, outpacing the market-cap-weighted version.</p><p><blockquote>尽管如此，表面之下还是有一些行动。科技股，尤其是美光科技 (MU)、Lam Research (LRCX) 和应用材料 (AMAT) 等芯片股，表现突出，而高盛集团 (GS) 等银行股和特彼勒 (CAT) 等工业股则飙升。景顺标普500等权重交易所交易基金 (RSP) 本周上涨 0.8%，超过市值加权版本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d14ffc0d585bc642e9dfa4eebe4b998b\" tg-width=\"964\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> That suggests that&nbsp;the stock market is rotating&nbsp;once again, out of tech and other growth stocks, which had been outperforming since May, and back into stocks that benefit from the strength of the U.S. economy, says Katie Stockton, founder of Fairlead Strategies. “A lot of rotation in constituents can fuel a bull market,” she says, noting that if more stocks start winning, it’s only a matter of time before the small-cap&nbsp;Russell 2000 index&nbsp;does, too.</p><p><blockquote>Fairlead Strategies 创始人凯蒂·斯托克顿 (Katie Stockton) 表示，这表明股市正在再次轮动，从自 5 月份以来表现优异的科技股和其他成长型股票，回到受益于美国经济强劲的股票。“她说：”成分股的大量轮换可以推动牛市，并指出，如果更多股票开始上涨，小盘股罗素 2000 指数也只是时间问题。</blockquote></p><p> That cyclicals have started breaking out again is impressive, particularly given the nonstop focus on the Covid-19 Delta variant. Whether it’s about states like&nbsp;Mississippi&nbsp;and&nbsp;Florida, or the Food and Drug Administration’s&nbsp;approval of a vaccine booster&nbsp;shot for people with compromised immune systems, renewed pandemic fears should have hit those stocks hard. That they didn’t says a lot about what investors are thinking.</p><p><blockquote>周期性股票再次开始爆发，这令人印象深刻，特别是考虑到人们对 Covid-19 德尔塔变异毒株的持续关注。无论是密西西比州和佛罗里达州等州，还是美国食品和药物管理局批准为免疫系统受损的人注射疫苗加强针，对大流行病的担忧再次爆发应该会对这些股票造成沉重打击。他们并没有透露太多投资者的想法。</blockquote></p><p> “If you just look at the market action this week, it’s saying the Delta variant is a public-health crisis, but not an economic crisis,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.</p><p><blockquote>“CIBC Private Wealth US 首席投资官 Dave Donabedian 说：”如果你只看本周的市场走势，就会发现德尔塔变异毒株是一场公共卫生危机，而不是一场经济危机。</blockquote></p><p> At some point, the boredom will end, and the market will get more volatile. And the biggest risk might be that investors use the volatility to push the entire stock market higher, notes BTIG’s Julian Emanuel, treating it like one big meme stock.</p><p><blockquote>在某个时候，无聊会结束，市场会变得更加波动。BTIG 的朱利安-伊曼纽尔（Julian Emanuel）指出，最大的风险可能是投资者利用波动性将整个股市推高，他将其视为一只大型备忘录股票。</blockquote></p><p> “[The] dramatic price action in ‘meme stocks’ both old and new raises the probability that higher volatility could result in an ‘altered reality’ exception,” he writes. “And there is only one previous exception where volatility went up and stocks continued to go up, and up, and up. At least for a while.”</p><p><blockquote>“他写道：”新老'meme股票'的剧烈价格走势增加了波动性加大可能导致'现实改变'例外的可能性。“以前只有一个例外，那就是波动性上升，股市继续上涨，上涨，上涨。至少在一段时间内是这样。”</blockquote></p><p> That, of course, was in 1999. Let’s hope we avoid the kind of excitement that followed.</p><p><blockquote>当然，那是在1999年。希望我们能避免随之而来的那种兴奋。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么令人兴奋。</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\">\nDow, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么令人兴奋。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-08-14 09:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should hope it stays that way.</p><p><blockquote>冒险。兴奋。最近股市似乎并不渴望这些东西。投资者应该希望它能保持这种状态。</blockquote></p><p> It wasn’t quite like watching paint dry this past week, but it wasn’t that far off, either. Earnings reports were few and far between, the most prominent coming from Walt Disney (ticker: DIS) and eBay (EBAY). The economic news, including July’s consumer-price data, didn’t contain any shockers. And while the S&amp;P 500 closed the week on a streak of four new highs, one of them was by less than a quarter of&nbsp;a point. The index rose 0.7%, to 4468.00, while the&nbsp;Dow Jones Industrial Average&nbsp;gained 306.87 points, or 0.9%, to 35,515.38. The&nbsp;Nasdaq Composite&nbsp;dipped 0.1%. to 14,822.90.</p><p><blockquote>在过去的一周里，这并不像是看着油漆变干，但也不远了。收益报告很少，其中最突出的来自华特迪士尼（股票代码：DIS）和 eBay（EBAY）。包括 7 月份消费者价格数据在内的经济新闻没有任何令人震惊的消息。虽然标普500本周连续创下四个新高，但其中一个高点不到四分之一个百分点。该指数上涨 0.7%，至 4468.00 点；道琼斯工业平均指数上涨 306.87 点，或 0.9%，至 35,515.38 点。纳斯达克综合指数下跌 0.1%。至14,822.90。</blockquote></p><p> Exuberance this ain’t.</p><p><blockquote>这不是繁荣。</blockquote></p><p> <b>Why Stock Prices Are Poised to Keep Rising</b></p><p><blockquote><b>为什么股价有望继续上涨</b></blockquote></p><p> Still, there was some action underneath the surface. Tech,particularly chip stockslikeMicron Technology(MU),Lam Research(LRCX), andApplied Materials(AMAT), took it on the chin, while banks, includingGoldman Sachs Group(GS), and industrials such asCaterpillar(CAT), soared. And theInvesco S&amp;P 500 Equal Weightexchange-traded fund (RSP) gained 0.8% on the week, outpacing the market-cap-weighted version.</p><p><blockquote>尽管如此，表面之下还是有一些行动。科技股，尤其是美光科技 (MU)、Lam Research (LRCX) 和应用材料 (AMAT) 等芯片股，表现突出，而高盛集团 (GS) 等银行股和特彼勒 (CAT) 等工业股则飙升。景顺标普500等权重交易所交易基金 (RSP) 本周上涨 0.8%，超过市值加权版本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d14ffc0d585bc642e9dfa4eebe4b998b\" tg-width=\"964\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> That suggests that&nbsp;the stock market is rotating&nbsp;once again, out of tech and other growth stocks, which had been outperforming since May, and back into stocks that benefit from the strength of the U.S. economy, says Katie Stockton, founder of Fairlead Strategies. “A lot of rotation in constituents can fuel a bull market,” she says, noting that if more stocks start winning, it’s only a matter of time before the small-cap&nbsp;Russell 2000 index&nbsp;does, too.</p><p><blockquote>Fairlead Strategies 创始人凯蒂·斯托克顿 (Katie Stockton) 表示，这表明股市正在再次轮动，从自 5 月份以来表现优异的科技股和其他成长型股票，回到受益于美国经济强劲的股票。“她说：”成分股的大量轮换可以推动牛市，并指出，如果更多股票开始上涨，小盘股罗素 2000 指数也只是时间问题。</blockquote></p><p> That cyclicals have started breaking out again is impressive, particularly given the nonstop focus on the Covid-19 Delta variant. Whether it’s about states like&nbsp;Mississippi&nbsp;and&nbsp;Florida, or the Food and Drug Administration’s&nbsp;approval of a vaccine booster&nbsp;shot for people with compromised immune systems, renewed pandemic fears should have hit those stocks hard. That they didn’t says a lot about what investors are thinking.</p><p><blockquote>周期性股票再次开始爆发，这令人印象深刻，特别是考虑到人们对 Covid-19 德尔塔变异毒株的持续关注。无论是密西西比州和佛罗里达州等州，还是美国食品和药物管理局批准为免疫系统受损的人注射疫苗加强针，对大流行病的担忧再次爆发应该会对这些股票造成沉重打击。他们并没有透露太多投资者的想法。</blockquote></p><p> “If you just look at the market action this week, it’s saying the Delta variant is a public-health crisis, but not an economic crisis,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.</p><p><blockquote>“CIBC Private Wealth US 首席投资官 Dave Donabedian 说：”如果你只看本周的市场走势，就会发现德尔塔变异毒株是一场公共卫生危机，而不是一场经济危机。</blockquote></p><p> At some point, the boredom will end, and the market will get more volatile. And the biggest risk might be that investors use the volatility to push the entire stock market higher, notes BTIG’s Julian Emanuel, treating it like one big meme stock.</p><p><blockquote>在某个时候，无聊会结束，市场会变得更加波动。BTIG 的朱利安-伊曼纽尔（Julian Emanuel）指出，最大的风险可能是投资者利用波动性将整个股市推高，他将其视为一只大型备忘录股票。</blockquote></p><p> “[The] dramatic price action in ‘meme stocks’ both old and new raises the probability that higher volatility could result in an ‘altered reality’ exception,” he writes. “And there is only one previous exception where volatility went up and stocks continued to go up, and up, and up. At least for a while.”</p><p><blockquote>“他写道：”新老'meme股票'的剧烈价格走势增加了波动性加大可能导致'现实改变'例外的可能性。“以前只有一个例外，那就是波动性上升，股市继续上涨，上涨，上涨。至少在一段时间内是这样。”</blockquote></p><p> That, of course, was in 1999. Let’s hope we avoid the kind of excitement that followed.</p><p><blockquote>当然，那是在1999年。希望我们能避免随之而来的那种兴奋。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/dow-stock-market-sp-500-51628901659?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/dow-stock-market-sp-500-51628901659?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144073354","content_text":"Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should hope it stays that way.\nIt wasn’t quite like watching paint dry this past week, but it wasn’t that far off, either. Earnings reports were few and far between, the most prominent coming from Walt Disney (ticker: DIS) and eBay (EBAY). The economic news, including July’s consumer-price data, didn’t contain any shockers. And while the S&P 500 closed the week on a streak of four new highs, one of them was by less than a quarter of a point. The index rose 0.7%, to 4468.00, while the Dow Jones Industrial Average gained 306.87 points, or 0.9%, to 35,515.38. The Nasdaq Composite dipped 0.1%. to 14,822.90.\nExuberance this ain’t.\nWhy Stock Prices Are Poised to Keep Rising\nStill, there was some action underneath the surface. Tech,particularly chip stockslikeMicron Technology(MU),Lam Research(LRCX), andApplied Materials(AMAT), took it on the chin, while banks, includingGoldman Sachs Group(GS), and industrials such asCaterpillar(CAT), soared. And theInvesco S&P 500 Equal Weightexchange-traded fund (RSP) gained 0.8% on the week, outpacing the market-cap-weighted version.\n\nThat suggests that the stock market is rotating once again, out of tech and other growth stocks, which had been outperforming since May, and back into stocks that benefit from the strength of the U.S. economy, says Katie Stockton, founder of Fairlead Strategies. “A lot of rotation in constituents can fuel a bull market,” she says, noting that if more stocks start winning, it’s only a matter of time before the small-cap Russell 2000 index does, too.\nThat cyclicals have started breaking out again is impressive, particularly given the nonstop focus on the Covid-19 Delta variant. Whether it’s about states like Mississippi and Florida, or the Food and Drug Administration’s approval of a vaccine booster shot for people with compromised immune systems, renewed pandemic fears should have hit those stocks hard. That they didn’t says a lot about what investors are thinking.\n“If you just look at the market action this week, it’s saying the Delta variant is a public-health crisis, but not an economic crisis,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.\nAt some point, the boredom will end, and the market will get more volatile. And the biggest risk might be that investors use the volatility to push the entire stock market higher, notes BTIG’s Julian Emanuel, treating it like one big meme stock.\n“[The] dramatic price action in ‘meme stocks’ both old and new raises the probability that higher volatility could result in an ‘altered reality’ exception,” he writes. “And there is only one previous exception where volatility went up and stocks continued to go up, and up, and up. At least for a while.”\nThat, of course, was in 1999. Let’s hope we avoid the kind of excitement that followed.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892933689,"gmtCreate":1628631541841,"gmtModify":1631886372355,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/892933689","repostId":"1124291594","repostType":4,"isVote":1,"tweetType":1,"viewCount":1338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896021135,"gmtCreate":1628544876427,"gmtModify":1631886372372,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like please.","listText":"Like please.","text":"Like please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/896021135","repostId":"1182740672","repostType":4,"repost":{"id":"1182740672","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":1628511055,"share":"https://www.laohunote.com/m/news/1182740672?lang=zh_CN&edition=full","pubTime":"2021-08-09 20:10","market":"us","language":"en","title":"Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182740672","media":"Tiger Newspress","summary":"The S&P and the Dow index futures fell from record highs on Monday with oil stocks reeling from a mo","content":"<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>标准普尔和道琼斯指数期货周一从历史高点下跌，石油股因担心亚洲 COVID-19 病例增加而导致原油价格暴跌超过 4%。</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>美国东部时间上午 8:05，道琼斯电子迷你指数下跌 90 点，跌幅 0.26%，标普500电子迷你指数下跌 5.5 点，跌幅 0.12%，纳斯达克 100 电子迷你指数上涨 20 点，跌幅 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>*资料来源：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，美国股市在出色的财报季中飙升至历史新高，因为几家大公司的业绩超出了共识，增强了人们对今年新冠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公司第二季度利润增长 92.9%。迄今为止，该指数中已公布收益的 427 家公司中，87.6% 超出分析师预期，创历史新高。</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公司和农业投资公司大陆谷物公司以约 45 亿美元（即每股 203 美元）收购。这笔全现金交易比桑德森农场周五的收盘价溢价 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>- 特斯拉在盘前上涨 1.6%，此前杰富瑞将该股评级从 “持有 ”上调至 “买入 ”，理由是该公司认为资本部署效率更高，汽车制造商随着时间的推移提高利润率的能力也有所提高。</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的第二季度利润和收入超出了华尔街的预期，其股价在盘前上涨了 6.5%。美国食品公司每股收益为 58 美分，比预期高出 22 美分，这得益于该行业从疫情中复苏后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公布的季度收益为每股 2.70 美元，远高于每股 1.62 美元的市场普遍预期。收入也高于分析师的预期。强劲的消费者需求和餐馆重新开业提振了业绩。泰森股价在盘前交易中上涨 2.6%。</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\">伯克希尔哈撒韦公司</a>– 伯克希尔公布第二季度盈利增长 7%，股价在盘前交易中上涨 1.2%。伯克希尔的业绩得益于包括铁路和能源公司在内的所有业务的反弹。</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\">维奥尼尔公司。</a>- 这家汽车零部件制造商表示，将开始与高通（QCOM）就这家芯片制造商的收购要约进行谈判，该要约高于汽车软件制造商麦格纳国际（MGA）的收购要约，该要约此前已获得 Veoneer 董事会的批准。高通的出价为 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\">精密科学</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与基因检测公司 firmInvitae (NVTA) 就可能的合并进行了接洽。知情人士表示，双方并未进行积极谈判，海豹突击队可能是一笔低溢价、全股票交易。Invitae 盘前飙升 7.2%，而 Exact Sciences 则下跌 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 ”，德意志银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 在盘前交易中下跌 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\">人字形</a>– 由于联合国决议后油价下滑，这些和其他能源公司面临压力。气候变化影响报告。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>- 摩根大通对这家女装零售商给予了 “跑赢大盘 ”评级，指出其在内衣和睡衣领域的市场主导地位以及在泳装领域的扩张机会。维多利亚的秘密在盘前上涨了 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，该公司已推迟其 Cloud Village 音乐流媒体服务 10 亿美元的香港首次公开募股计划。直接了解此事的人士说，延迟是由于中国主要科技公司的交易波动所致。</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>标准普尔和道琼斯指数期货周一从历史高点下跌，石油股因担心亚洲 COVID-19 病例增加而导致原油价格暴跌超过 4%。</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>美国东部时间上午 8:05，道琼斯电子迷你指数下跌 90 点，跌幅 0.26%，标普500电子迷你指数下跌 5.5 点，跌幅 0.12%，纳斯达克 100 电子迷你指数上涨 20 点，跌幅 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>*资料来源：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，美国股市在出色的财报季中飙升至历史新高，因为几家大公司的业绩超出了共识，增强了人们对今年新冠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公司第二季度利润增长 92.9%。迄今为止，该指数中已公布收益的 427 家公司中，87.6% 超出分析师预期，创历史新高。</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公司和农业投资公司大陆谷物公司以约 45 亿美元（即每股 203 美元）收购。这笔全现金交易比桑德森农场周五的收盘价溢价 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>- 特斯拉在盘前上涨 1.6%，此前杰富瑞将该股评级从 “持有 ”上调至 “买入 ”，理由是该公司认为资本部署效率更高，汽车制造商随着时间的推移提高利润率的能力也有所提高。</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的第二季度利润和收入超出了华尔街的预期，其股价在盘前上涨了 6.5%。美国食品公司每股收益为 58 美分，比预期高出 22 美分，这得益于该行业从疫情中复苏后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公布的季度收益为每股 2.70 美元，远高于每股 1.62 美元的市场普遍预期。收入也高于分析师的预期。强劲的消费者需求和餐馆重新开业提振了业绩。泰森股价在盘前交易中上涨 2.6%。</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\">伯克希尔哈撒韦公司</a>– 伯克希尔公布第二季度盈利增长 7%，股价在盘前交易中上涨 1.2%。伯克希尔的业绩得益于包括铁路和能源公司在内的所有业务的反弹。</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\">维奥尼尔公司。</a>- 这家汽车零部件制造商表示，将开始与高通（QCOM）就这家芯片制造商的收购要约进行谈判，该要约高于汽车软件制造商麦格纳国际（MGA）的收购要约，该要约此前已获得 Veoneer 董事会的批准。高通的出价为 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\">精密科学</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与基因检测公司 firmInvitae (NVTA) 就可能的合并进行了接洽。知情人士表示，双方并未进行积极谈判，海豹突击队可能是一笔低溢价、全股票交易。Invitae 盘前飙升 7.2%，而 Exact Sciences 则下跌 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 ”，德意志银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 在盘前交易中下跌 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\">人字形</a>– 由于联合国决议后油价下滑，这些和其他能源公司面临压力。气候变化影响报告。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>- 摩根大通对这家女装零售商给予了 “跑赢大盘 ”评级，指出其在内衣和睡衣领域的市场主导地位以及在泳装领域的扩张机会。维多利亚的秘密在盘前上涨了 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，该公司已推迟其 Cloud Village 音乐流媒体服务 10 亿美元的香港首次公开募股计划。直接了解此事的人士说，延迟是由于中国主要科技公司的交易波动所致。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"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":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1207,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898961957,"gmtCreate":1628468962079,"gmtModify":1631886372388,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/898961957","repostId":"1136322726","repostType":4,"isVote":1,"tweetType":1,"viewCount":1097,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893535159,"gmtCreate":1628284463371,"gmtModify":1631886372395,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/893535159","repostId":"1155656235","repostType":4,"repost":{"id":"1155656235","kind":"news","pubTimestamp":1628227304,"share":"https://www.laohunote.com/m/news/1155656235?lang=zh_CN&edition=full","pubTime":"2021-08-06 13:21","market":"us","language":"en","title":"20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155656235","media":"MarketWatch","summary":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales ","content":"<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在行业反弹的推动下，云 ETF 接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计提供云服务的公司未来销售额将实现强劲增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国大陆的传言和德尔塔变异毒株感染人数激增，美国投资者仍然看好。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于通过互联网将计算能力转变为分布式模型的最前沿的公司——预计将在未来几年快速增长，覆盖该领域的五大交易所交易基金中有四家接近创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些 ETF 持有的股票屏幕，显示了预计到 2023 年销售额增幅最大的股票。在一个有许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动因素。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>为了开始屏幕，我们查看了五个最大的云 ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF 可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何 ETF 感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至 8 月 4 日的总回报率对比，以及 SPDR 标普500 ETF 和景顺 QQQ 信托基金（追踪纳斯达克 100 指数）的总回报率对比：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF 的方法各不相同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪索引。根据ARK Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，该公司占该投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云 ETF 中，ARKW 的另一个独特持股是华特迪士尼公司（Walt Disney Co.），该公司通过其 Disney+ 流媒体服务无疑是一家重要的云公司，尽管该公司没有直接说明其销售额中有多少来自这一快速增长的领域。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>FactSet 对 ARKW 描述的一部分如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW 的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术充满信心的投资者，但投资组合的实施却是一项更加艰巨的任务： 大多数开发这些进步的公司都是大公司，新兴技术只占总收入的一小部分。因此，要获得 ARKW 的目标技术的纯粹权限是非常困难的--因此，一定要确认该基金的持有量--而不仅仅是其论点--与您对该领域的看法相一致。</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测 2023 年的销售增长，我们使用 2020 年日历销售预测作为基线，然后查看 FactSet 调查的分析师对未来三年的共识预测（如果有）。(2020 年的数字是估计值，因为许多公司的财政年度与日历不符）。</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将小组范围限制在 FactSet 调查的至少五名分析师所涵盖的 126 家公司，这些公司提供了 2020 年至 2023 年的共识销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到 2023 年销售额复合年增长率 (CAGR) 最高的 20 家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有 21 只股票上市，包括 Zillow Group Inc. 的 A 类股票和 C 类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该名单以 ARKW 持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来 12 个月共识估计的当前远期市销率，以及当前市值与 2023 年预计销售额的比率和分析师对股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为 2.8，2023 年预计市销率为 2.6。QQQ 目前的市盈率为 4.7，2023 年将下降至 4.3。</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>20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-06 13:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在行业反弹的推动下，云 ETF 接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计提供云服务的公司未来销售额将实现强劲增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国大陆的传言和德尔塔变异毒株感染人数激增，美国投资者仍然看好。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于通过互联网将计算能力转变为分布式模型的最前沿的公司——预计将在未来几年快速增长，覆盖该领域的五大交易所交易基金中有四家接近创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些 ETF 持有的股票屏幕，显示了预计到 2023 年销售额增幅最大的股票。在一个有许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动因素。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>为了开始屏幕，我们查看了五个最大的云 ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF 可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何 ETF 感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至 8 月 4 日的总回报率对比，以及 SPDR 标普500 ETF 和景顺 QQQ 信托基金（追踪纳斯达克 100 指数）的总回报率对比：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF 的方法各不相同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪索引。根据ARK Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，该公司占该投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云 ETF 中，ARKW 的另一个独特持股是华特迪士尼公司（Walt Disney Co.），该公司通过其 Disney+ 流媒体服务无疑是一家重要的云公司，尽管该公司没有直接说明其销售额中有多少来自这一快速增长的领域。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>FactSet 对 ARKW 描述的一部分如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW 的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术充满信心的投资者，但投资组合的实施却是一项更加艰巨的任务： 大多数开发这些进步的公司都是大公司，新兴技术只占总收入的一小部分。因此，要获得 ARKW 的目标技术的纯粹权限是非常困难的--因此，一定要确认该基金的持有量--而不仅仅是其论点--与您对该领域的看法相一致。</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测 2023 年的销售增长，我们使用 2020 年日历销售预测作为基线，然后查看 FactSet 调查的分析师对未来三年的共识预测（如果有）。(2020 年的数字是估计值，因为许多公司的财政年度与日历不符）。</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将小组范围限制在 FactSet 调查的至少五名分析师所涵盖的 126 家公司，这些公司提供了 2020 年至 2023 年的共识销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到 2023 年销售额复合年增长率 (CAGR) 最高的 20 家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有 21 只股票上市，包括 Zillow Group Inc. 的 A 类股票和 C 类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该名单以 ARKW 持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来 12 个月共识估计的当前远期市销率，以及当前市值与 2023 年预计销售额的比率和分析师对股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为 2.8，2023 年预计市销率为 2.6。QQQ 目前的市盈率为 4.7，2023 年将下降至 4.3。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?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":{"TDOC":"Teladoc Health Inc.","CRWD":"CrowdStrike Holdings, Inc.","PDD":"拼多多","OKTA":"Okta Inc.","SHOP":"Shopify Inc","PINS":"Pinterest, Inc.","ADYEY":"Adyen N.V.","SE":"Sea Ltd","ZG":"Zillow Class A","SNAP":"Snap Inc","VCYT":"Veracyte Inc","COIN":"Coinbase Global, Inc.","DKNG":"DraftKings Inc.","MELI":"MercadoLibre","Z":"Zillow","ROKU":"Roku Inc","KC":"金山云","TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155656235","content_text":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)\nU.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.\nCloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.\nBelow is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.\nTo begin the screen, we looked at the five largest cloud ETFs:\nSource: FactSet\nETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.\nHere’s a comparison of total returns through Aug. 4, along with those for the SPDR S&P 500 ETF and the Invesco QQQ Trust (which tracks the Nasdaq-100 Index) for comparison:\nSource: FactSet\nThe ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.\nAnother holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.\nAs part of its description of ARKW, FactSet says the following:\n“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”\nCloud-stock screen\nTogether, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)\nTo make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.\nHere are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:\n\nSource: FactSet\nThere are actually 21 stocks listed, including Zillow Group Inc.’s Class A and Class C shares.\nIt is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.\nHere are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.\n\nSource: FactSet\nIn comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.","news_type":1,"symbols_score_info":{"COIN":0.9,"SQ":0.9,"LC":0.9,"SHOP":0.9,"OKTA":0.9,"VCYT":0.9,"TSLA":0.9,"PINS":0.9,"TDOC":0.9,"ADYEY":0.9,"SE":0.9,"DKNG":0.9,"MELI":0.9,"CRWD":0.9,"KC":0.9,"PDD":0.9,"SNAP":0.9,"Z":0.9,"SKLZ":0.9,"ROKU":0.9,"ZG":0.9}},"isVote":1,"tweetType":1,"viewCount":1128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807889180,"gmtCreate":1628028951040,"gmtModify":1631889858052,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/807889180","repostId":"1127822150","repostType":4,"isVote":1,"tweetType":1,"viewCount":1167,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807880241,"gmtCreate":1628028908483,"gmtModify":1631889858057,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/807880241","repostId":"1171505764","repostType":4,"isVote":1,"tweetType":1,"viewCount":1349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805965744,"gmtCreate":1627852927888,"gmtModify":1631889858058,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/805965744","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":974,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802824760,"gmtCreate":1627766707350,"gmtModify":1631889858062,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/802824760","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohunote.com/m/news/1147779023?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</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>You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</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\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">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":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806466972,"gmtCreate":1627689616696,"gmtModify":1631889858063,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/806466972","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":133475406,"gmtCreate":1621804332305,"gmtModify":1634186560145,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment 🙏","listText":"Like and comment 🙏","text":"Like and comment 🙏","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":7,"commentSize":12,"repostSize":0,"link":"https://laohu8.com/post/133475406","repostId":"2137906121","repostType":4,"isVote":1,"tweetType":1,"viewCount":796,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194699072,"gmtCreate":1621372212696,"gmtModify":1634192142334,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Please like and comment. 🙏","listText":"Please like and comment. 🙏","text":"Please like and comment. 🙏","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":6,"commentSize":11,"repostSize":0,"link":"https://laohu8.com/post/194699072","repostId":"2135161248","repostType":4,"repost":{"id":"2135161248","kind":"news","pubTimestamp":1621343169,"share":"https://www.laohunote.com/m/news/2135161248?lang=zh_CN&edition=full","pubTime":"2021-05-18 21:06","market":"us","language":"en","title":"JD.com to Report Q1 Earnings: What's in the Cards?<blockquote>京东将公布第一季度收益：前景如何？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2135161248","media":"Zacks","summary":"JD.com, Inc. is scheduled to report first-quarter 2021 results on May 19.\nFor the first quarter, the","content":"<p><b>JD.com, Inc.</b>&nbsp;is scheduled to report first-quarter 2021 results on May 19.</p><p><blockquote><b>京东公司。</b>定于 5 月 19 日公布 2021 年第一季度业绩。</blockquote></p><p> For the first quarter, the Zacks Consensus Estimate for revenues is pegged at $29.9 billion, indicating an improvement of 44.9% from the year-ago reported figure.</p><p><blockquote>Zacks 对第一季度收入的一致预期为 299 亿美元，比去年同期报告的数字增长了 44.9%。</blockquote></p><p> Further, the consensus mark for earnings is pegged at 39 cents per share, indicating a 39.3% rise from the previous-year reported figure.</p><p><blockquote>此外，每股收益的共识为 39 美分，比上一年报告的数字增长了 39.3%。</blockquote></p><p> Notably, the company delivered an earnings surprise of 4.6% in the last reported quarter.</p><p><blockquote>值得注意的是，该公司在上一季度的盈利意外增长了 4.6%。</blockquote></p><p> <b>JD.com, Inc. Price and EPS Surprise</b></p><p><blockquote><b>京东公司。价格和每股收益惊喜</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c1fed1c36f6a8ce20878c0d2e594f77c\" tg-width=\"534\" tg-height=\"262\"><span>JD.com, Inc. price-eps-surprise | JD.com, Inc. Quote</span></p><p><blockquote><p class=\"t-img-caption\"><span>京东公司价格-每股收益-惊喜 |京东公司报价</span></p></blockquote></p><p> <b>Key Factors to Note</b></p><p><blockquote><b>需要注意的关键因素</b></blockquote></p><p> The company’s JD Retail segment, comprising the e-commerce business, is expected to have been the key catalyst in the first quarter.</p><p><blockquote>该公司的京东零售部门（包括电子商务业务）预计将成为第一季度的主要催化剂。</blockquote></p><p> The launch of flagship stores of popular fashion and luxury brands like John Lobb, Stefano Ricci, Vivienne Westwoodon and Anya Hindmarch, among others, on JD.com is likely to have driven customer momentum, which in turn is expected to have aided the performance of JD Retail during the quarter-to-be-reported.</p><p><blockquote>John Lobb、Stefano Ricci、Vivienne Westwoodon 和 Anya Hindmarch 等热门时尚和奢侈品牌在京东开设旗舰店可能会推动顾客增长，进而有望帮助京东零售在报告季度的表现。</blockquote></p><p> JD retail’s omni-channel initiatives are anticipated to have contributed well to top-line growth of the segment in the first quarter.</p><p><blockquote>京东零售的全渠道计划预计将极大地促进该部门第一季度的营收增长。</blockquote></p><p> Moreover, the company’s collaboration with Italian luxury brands Prada and MiuMiu, which bolstered its omni-channel efforts, might have been a positive.</p><p><blockquote>此外，该公司与意大利奢侈品牌 Prada 和 MiuMiu 的合作，加强了其全渠道业务，这可能是一个积极因素。</blockquote></p><p> Furthermore, growing momentum of JD health that offers free online medical consultation and online pharmacy retail services is likely to get reflected in the company’s to-be-reported quarter’s results.</p><p><blockquote>此外，京东健康提供免费在线医疗咨询和在线药房零售服务，其发展势头可能会反映在该公司即将公布的季度业绩中。</blockquote></p><p> Growing investments in research and development are also likely to have been encouraging for the company in the quarter under review.</p><p><blockquote>在本季度，不断增长的研发投资也可能对该公司来说是令人鼓舞的。</blockquote></p><p> Additionally, the new businesses segment comprising technology, supply chain and logistics services is expected to have helped it in gaining traction across lower-tier cities in the first quarter.</p><p><blockquote>此外，包括技术、供应链和物流服务在内的新业务部门预计将帮助其在第一季度在低线城市获得牵引力。</blockquote></p><p> Moreover, the well-performing Jingxi Business Group is expected to have aided JD.com’s performance in the lower-tier cities.</p><p><blockquote>此外，表现良好的京西商业集团有望帮助京东在低线城市的表现。</blockquote></p><p> However, increasing fulfilment, marketing, and research and development expenses are likely to have been major risks to the company’s profitability in the quarter under review.</p><p><blockquote>然而，履行、营销和研发费用的增加很可能是公司本季度盈利能力的主要风险。</blockquote></p><p> Moreover, increasing competitive pressure from Alibaba in the e-commerce market might be reflected in first-quarter results.</p><p><blockquote>此外，阿里巴巴-SW在电子商务市场上日益增加的竞争压力可能会反映在第一季度的业绩中。</blockquote></p><p> <b>What Our Model Says</b></p><p><blockquote><b>我们的模型说什么</b></blockquote></p><p> Our proven model does not conclusively predict an earnings beat for JD.com this time around. The combination of a positiveEarnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.</p><p><blockquote>我们经过验证的模型并不能最终预测京东这次的盈利会超出预期。正收益扩展 Zacks 排名 #1（强力买入）、2（买入）或 3（持有）的组合会增加收益超出预期的几率。但这里并非如此。使用 ourEarnings ESP 过滤器，您可以在股票被报道之前发现最值得买卖的股票。</blockquote></p><p> JD.com has an Earnings ESP of -14.83% and a Zacks Rank #5 (Strong Sell), at present.</p><p><blockquote>京东目前的盈利 ESP 为 -14.83%，Zacks 排名第 5（强力抛售）。</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>JD.com to Report Q1 Earnings: What's in the Cards?<blockquote>京东将公布第一季度收益：前景如何？</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\">\nJD.com to Report Q1 Earnings: What's in the Cards?<blockquote>京东将公布第一季度收益：前景如何？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Zacks</strong><span class=\"h-time small\">2021-05-18 21:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>JD.com, Inc.</b>&nbsp;is scheduled to report first-quarter 2021 results on May 19.</p><p><blockquote><b>京东公司。</b>定于 5 月 19 日公布 2021 年第一季度业绩。</blockquote></p><p> For the first quarter, the Zacks Consensus Estimate for revenues is pegged at $29.9 billion, indicating an improvement of 44.9% from the year-ago reported figure.</p><p><blockquote>Zacks 对第一季度收入的一致预期为 299 亿美元，比去年同期报告的数字增长了 44.9%。</blockquote></p><p> Further, the consensus mark for earnings is pegged at 39 cents per share, indicating a 39.3% rise from the previous-year reported figure.</p><p><blockquote>此外，每股收益的共识为 39 美分，比上一年报告的数字增长了 39.3%。</blockquote></p><p> Notably, the company delivered an earnings surprise of 4.6% in the last reported quarter.</p><p><blockquote>值得注意的是，该公司在上一季度的盈利意外增长了 4.6%。</blockquote></p><p> <b>JD.com, Inc. Price and EPS Surprise</b></p><p><blockquote><b>京东公司。价格和每股收益惊喜</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c1fed1c36f6a8ce20878c0d2e594f77c\" tg-width=\"534\" tg-height=\"262\"><span>JD.com, Inc. price-eps-surprise | JD.com, Inc. Quote</span></p><p><blockquote><p class=\"t-img-caption\"><span>京东公司价格-每股收益-惊喜 |京东公司报价</span></p></blockquote></p><p> <b>Key Factors to Note</b></p><p><blockquote><b>需要注意的关键因素</b></blockquote></p><p> The company’s JD Retail segment, comprising the e-commerce business, is expected to have been the key catalyst in the first quarter.</p><p><blockquote>该公司的京东零售部门（包括电子商务业务）预计将成为第一季度的主要催化剂。</blockquote></p><p> The launch of flagship stores of popular fashion and luxury brands like John Lobb, Stefano Ricci, Vivienne Westwoodon and Anya Hindmarch, among others, on JD.com is likely to have driven customer momentum, which in turn is expected to have aided the performance of JD Retail during the quarter-to-be-reported.</p><p><blockquote>John Lobb、Stefano Ricci、Vivienne Westwoodon 和 Anya Hindmarch 等热门时尚和奢侈品牌在京东开设旗舰店可能会推动顾客增长，进而有望帮助京东零售在报告季度的表现。</blockquote></p><p> JD retail’s omni-channel initiatives are anticipated to have contributed well to top-line growth of the segment in the first quarter.</p><p><blockquote>京东零售的全渠道计划预计将极大地促进该部门第一季度的营收增长。</blockquote></p><p> Moreover, the company’s collaboration with Italian luxury brands Prada and MiuMiu, which bolstered its omni-channel efforts, might have been a positive.</p><p><blockquote>此外，该公司与意大利奢侈品牌 Prada 和 MiuMiu 的合作，加强了其全渠道业务，这可能是一个积极因素。</blockquote></p><p> Furthermore, growing momentum of JD health that offers free online medical consultation and online pharmacy retail services is likely to get reflected in the company’s to-be-reported quarter’s results.</p><p><blockquote>此外，京东健康提供免费在线医疗咨询和在线药房零售服务，其发展势头可能会反映在该公司即将公布的季度业绩中。</blockquote></p><p> Growing investments in research and development are also likely to have been encouraging for the company in the quarter under review.</p><p><blockquote>在本季度，不断增长的研发投资也可能对该公司来说是令人鼓舞的。</blockquote></p><p> Additionally, the new businesses segment comprising technology, supply chain and logistics services is expected to have helped it in gaining traction across lower-tier cities in the first quarter.</p><p><blockquote>此外，包括技术、供应链和物流服务在内的新业务部门预计将帮助其在第一季度在低线城市获得牵引力。</blockquote></p><p> Moreover, the well-performing Jingxi Business Group is expected to have aided JD.com’s performance in the lower-tier cities.</p><p><blockquote>此外，表现良好的京西商业集团有望帮助京东在低线城市的表现。</blockquote></p><p> However, increasing fulfilment, marketing, and research and development expenses are likely to have been major risks to the company’s profitability in the quarter under review.</p><p><blockquote>然而，履行、营销和研发费用的增加很可能是公司本季度盈利能力的主要风险。</blockquote></p><p> Moreover, increasing competitive pressure from Alibaba in the e-commerce market might be reflected in first-quarter results.</p><p><blockquote>此外，阿里巴巴-SW在电子商务市场上日益增加的竞争压力可能会反映在第一季度的业绩中。</blockquote></p><p> <b>What Our Model Says</b></p><p><blockquote><b>我们的模型说什么</b></blockquote></p><p> Our proven model does not conclusively predict an earnings beat for JD.com this time around. The combination of a positiveEarnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.</p><p><blockquote>我们经过验证的模型并不能最终预测京东这次的盈利会超出预期。正收益扩展 Zacks 排名 #1（强力买入）、2（买入）或 3（持有）的组合会增加收益超出预期的几率。但这里并非如此。使用 ourEarnings ESP 过滤器，您可以在股票被报道之前发现最值得买卖的股票。</blockquote></p><p> JD.com has an Earnings ESP of -14.83% and a Zacks Rank #5 (Strong Sell), at present.</p><p><blockquote>京东目前的盈利 ESP 为 -14.83%，Zacks 排名第 5（强力抛售）。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zacks.com/stock/news/1541348/jdcom-jd-to-report-q1-earnings-whats-in-the-cards?art_rec=quote-stock_overview-zacks_news-ID02-txt-1541348\">Zacks</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":{"09618":"京东集团-SW","JD":"京东"},"source_url":"https://www.zacks.com/stock/news/1541348/jdcom-jd-to-report-q1-earnings-whats-in-the-cards?art_rec=quote-stock_overview-zacks_news-ID02-txt-1541348","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135161248","content_text":"JD.com, Inc. is scheduled to report first-quarter 2021 results on May 19.\nFor the first quarter, the Zacks Consensus Estimate for revenues is pegged at $29.9 billion, indicating an improvement of 44.9% from the year-ago reported figure.\nFurther, the consensus mark for earnings is pegged at 39 cents per share, indicating a 39.3% rise from the previous-year reported figure.\nNotably, the company delivered an earnings surprise of 4.6% in the last reported quarter.\nJD.com, Inc. Price and EPS Surprise\nJD.com, Inc. price-eps-surprise | JD.com, Inc. Quote\nKey Factors to Note\nThe company’s JD Retail segment, comprising the e-commerce business, is expected to have been the key catalyst in the first quarter.\nThe launch of flagship stores of popular fashion and luxury brands like John Lobb, Stefano Ricci, Vivienne Westwoodon and Anya Hindmarch, among others, on JD.com is likely to have driven customer momentum, which in turn is expected to have aided the performance of JD Retail during the quarter-to-be-reported.\nJD retail’s omni-channel initiatives are anticipated to have contributed well to top-line growth of the segment in the first quarter.\nMoreover, the company’s collaboration with Italian luxury brands Prada and MiuMiu, which bolstered its omni-channel efforts, might have been a positive.\nFurthermore, growing momentum of JD health that offers free online medical consultation and online pharmacy retail services is likely to get reflected in the company’s to-be-reported quarter’s results.\nGrowing investments in research and development are also likely to have been encouraging for the company in the quarter under review.\nAdditionally, the new businesses segment comprising technology, supply chain and logistics services is expected to have helped it in gaining traction across lower-tier cities in the first quarter.\nMoreover, the well-performing Jingxi Business Group is expected to have aided JD.com’s performance in the lower-tier cities.\nHowever, increasing fulfilment, marketing, and research and development expenses are likely to have been major risks to the company’s profitability in the quarter under review.\nMoreover, increasing competitive pressure from Alibaba in the e-commerce market might be reflected in first-quarter results.\nWhat Our Model Says\nOur proven model does not conclusively predict an earnings beat for JD.com this time around. The combination of a positiveEarnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.\nJD.com has an Earnings ESP of -14.83% and a Zacks Rank #5 (Strong Sell), at present.","news_type":1,"symbols_score_info":{"JD":0.9,"09618":0.9}},"isVote":1,"tweetType":1,"viewCount":739,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197605516,"gmtCreate":1621458601535,"gmtModify":1634189079737,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Please like and comment.","listText":"Please like and comment.","text":"Please like and comment.","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":7,"commentSize":9,"repostSize":0,"link":"https://laohu8.com/post/197605516","repostId":"1103552481","repostType":4,"repost":{"id":"1103552481","kind":"news","pubTimestamp":1621428667,"share":"https://www.laohunote.com/m/news/1103552481?lang=zh_CN&edition=full","pubTime":"2021-05-19 20:51","market":"us","language":"en","title":"3 Things to Watch for in the Fed Minutes Today<blockquote>今天美联储会议纪要中值得关注的 3 件事</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103552481","media":"Barrons","summary":"The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but inv","content":"<p>The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.</p><p><blockquote>美联储最新的会议纪要预计今天不会引起太大轰动，但投资者仍应关注一些不同的主题。</blockquote></p><p> The minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:&nbsp; A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a&nbsp;surprisingly weak jobs report&nbsp;and a&nbsp;stronger-than-expected consumer inflation report, for example.</p><p><blockquote>会议纪要将于今天下午 2 点公布，美联储观察人士在解读会议纪要的意义时可能会面临比平时更大的挑战：自 4 月 28 日至 29 日会议以来，经济发生了很大变化。例如，接下来的几周带来了令人惊讶的疲软就业报告和强于预期的消费者通胀报告。</blockquote></p><p> And unlike&nbsp;last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April.&nbsp;The 10-year yield has&nbsp;dropped to 1.64%&nbsp;from 1.74% on March 31.</p><p><blockquote>与上个月的会议不同的是，没有出现引人注目的国债抛售来引起官员们的注意。尽管经济数据显示4月份价格压力更大，但收益率的急剧攀升在3月底有所减弱。10年期国债收益率已从3月31日的1.74%降至1.64%。</blockquote></p><p> Yet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.</p><p><blockquote>然而，这份文件可能仍能提供一些关于央行观点的线索。自上次会议以来，官员们也提供了更多关于政策的观点。值得注意的是，美联储副主席理查德·克拉里达在周一的一次会议上发表讲话，并讨论了最近的一些经济数据点。</blockquote></p><p> Here’s what strategists expect out of the meeting today, and what Clarida said about the topics:</p><p><blockquote>以下是战略家们对今天会议的期待，以及克拉里达对这些议题的看法：</blockquote></p><p> <b>“Attuned and Attentive” to “Transitory” Inflation?</b></p><p><blockquote><b>“调整并关注” “暂时性 ”通货膨胀？</b></blockquote></p><p> One popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.</p><p><blockquote>包括美联储主席杰罗姆-鲍威尔（Jerome Powell）在内的美联储官员中流行的一句话是，预计今年春季通胀将出现 “暂时性 ”上升，这主要与美国经济在去年大流行病导致经济活动急剧放缓后重新开放有关。</blockquote></p><p> Mizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.</p><p><blockquote>瑞穗经济学家史蒂文-里奇乌托（Steven Ricchiuto）和亚历克斯-佩勒（Alex Pelle）在 5 月 18 日的一份报告中写道，他们预计会议纪要中 “会多次提到'暂时'的价格压力”。他们还强调，4月份消费者价格涨幅最大的许多行业都是需求受疫情打击最大的行业，如酒店和机票。“他们补充说：”到目前为止，[这]证实了美联储的想法。</blockquote></p><p> Yet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:&nbsp; That the central bank would be “attuned and attentive” to any data showing higher price pressures.</p><p><blockquote>然而，在周一的会议上，克拉里达似乎在重复一种不同类型的通胀保证：央行将 “调整并关注 ”任何显示物价压力上升的数据。</blockquote></p><p> “In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”</p><p><blockquote>“在 CPI 报告中，[重新开放]显然给物价带来了上行压力。现在我们的基线观点是，这大部分可能是暂时的，但我们必须调整并关注即将到来的数据，”他说。“我们任务的关键要素是价格稳定，而价格稳定的一个重要组成部分是稳固的通胀预期。如果我们看到价格或通胀面临上行压力，有可能推高通胀预期，我毫不怀疑我们会利用我们的工具来应对这种情况。”</blockquote></p><p> <b>Taper Timeline</b></p><p><blockquote><b>锥度时间轴</b></blockquote></p><p> Investors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.</p><p><blockquote>投资者还将关注央行是否会就何时开始削减每月 1200 亿美元的债券购买规模提供任何额外指导。鲍威尔曾表示，美联储希望在缩减购债规模之前，在实现充分就业和长期平均通胀率2%的目标方面取得 “实质性进一步进展”，但官员们并未提供太多额外指导。</blockquote></p><p> Most on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases&nbsp;late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.</p><p><blockquote>华尔街大多数人预计美联储将在今年夏末或秋季讨论减少或缩减购买量的长期计划。NatWest Markets 在周一的一份报告中表示，预计美联储将在 9 月份开始讨论缩减购买规模，并实际上从明年开始放缓债券购买步伐。</blockquote></p><p> So any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.</p><p><blockquote>因此，最新会议纪要中任何更详细的讨论都可能让投资者感到意外，并可能对市场产生影响。</blockquote></p><p> <b>Labor-Market Outlook</b></p><p><blockquote><b>劳动力市场前景</b></blockquote></p><p> One key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.</p><p><blockquote>决定美联储购买债券（和其他便利措施）前景的一个关键因素是劳动力市场的复苏。在令人失望的四月份就业报告之后，这仍然悬而未决。</blockquote></p><p> Still, there is a chance investors could find more context on one of their questions in the minutes:&nbsp; How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?</p><p><blockquote>尽管如此，投资者还是有机会在会议纪要中找到他们的一个问题的更多背景：多少改善足以让美联储开始撤回宽松政策？换句话说，“实质性的进一步进展”是什么意思？</blockquote></p><p> Before the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.</p><p><blockquote>在 4 月份劳动力市场传来令人失望的消息之前，华尔街大多数人都预计本月就业岗位创造将强劲增长，这是鲍威尔所说的在美国实现美联储目标 “进一步实质性进展 ”之前，需要实现 “一连串 ”强劲复苏的又一步。这可能促使官员们讨论在央行开始退缩之前，复苏需要走多远。</blockquote></p><p> Clarida discussed the April employment report on Monday as well.</p><p><blockquote>克拉里达周一还讨论了4月份的就业报告。</blockquote></p><p></p><p> “What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”</p><p><blockquote>“他说：”四月份的就业报告告诉我，我们在劳动力市场，尤其是服务业实现供需平衡的方式可能需要一些时间，而且随着工人重返工作岗位，价格可能会受到一些上行压力，因此我们必须调整并关注这一数据流。“根据 4 月份的就业报告，我们还没有取得实质性的进一步进展，但随着数据的公布，我们作为一个委员会将不得不对此进行评估，并最终做出判断”。</blockquote></p><p> Ultimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:&nbsp; Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the&nbsp;economic data has been so volatile&nbsp;during the reopening that the picture could change significantly by the time the Fed meets again in June.</p><p><blockquote>归根结底，未来劳动力市场数据的重要性暗示着美联储会议纪要的更广泛启示： 未来几个月的经济数据可能是美联储行动及其消除市场和经济宽松计划的最终仲裁者。重新开放期间的经济数据非常不稳定，到美联储 6 月份再次开会时，情况可能会发生重大变化。</blockquote></p><p> That means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.</p><p><blockquote>这意味着投资者将不得不观望一段时间，以了解央行计划何时开始退缩。</blockquote></p><p> “We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”</p><p><blockquote>“蒙特利尔银行策略师伊恩-林根（Ian Lyngen）写道：”我们不愿将此看涨期权为任何形式的均衡--相反，随着宏观预期的进一步细化，这更有可能证明是一种暂时的持有模式。“显然，我们的问题多于答案”。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Things to Watch for in the Fed Minutes Today<blockquote>今天美联储会议纪要中值得关注的 3 件事</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\">\n3 Things to Watch for in the Fed Minutes Today<blockquote>今天美联储会议纪要中值得关注的 3 件事</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-19 20:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.</p><p><blockquote>美联储最新的会议纪要预计今天不会引起太大轰动，但投资者仍应关注一些不同的主题。</blockquote></p><p> The minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:&nbsp; A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a&nbsp;surprisingly weak jobs report&nbsp;and a&nbsp;stronger-than-expected consumer inflation report, for example.</p><p><blockquote>会议纪要将于今天下午 2 点公布，美联储观察人士在解读会议纪要的意义时可能会面临比平时更大的挑战：自 4 月 28 日至 29 日会议以来，经济发生了很大变化。例如，接下来的几周带来了令人惊讶的疲软就业报告和强于预期的消费者通胀报告。</blockquote></p><p> And unlike&nbsp;last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April.&nbsp;The 10-year yield has&nbsp;dropped to 1.64%&nbsp;from 1.74% on March 31.</p><p><blockquote>与上个月的会议不同的是，没有出现引人注目的国债抛售来引起官员们的注意。尽管经济数据显示4月份价格压力更大，但收益率的急剧攀升在3月底有所减弱。10年期国债收益率已从3月31日的1.74%降至1.64%。</blockquote></p><p> Yet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.</p><p><blockquote>然而，这份文件可能仍能提供一些关于央行观点的线索。自上次会议以来，官员们也提供了更多关于政策的观点。值得注意的是，美联储副主席理查德·克拉里达在周一的一次会议上发表讲话，并讨论了最近的一些经济数据点。</blockquote></p><p> Here’s what strategists expect out of the meeting today, and what Clarida said about the topics:</p><p><blockquote>以下是战略家们对今天会议的期待，以及克拉里达对这些议题的看法：</blockquote></p><p> <b>“Attuned and Attentive” to “Transitory” Inflation?</b></p><p><blockquote><b>“调整并关注” “暂时性 ”通货膨胀？</b></blockquote></p><p> One popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.</p><p><blockquote>包括美联储主席杰罗姆-鲍威尔（Jerome Powell）在内的美联储官员中流行的一句话是，预计今年春季通胀将出现 “暂时性 ”上升，这主要与美国经济在去年大流行病导致经济活动急剧放缓后重新开放有关。</blockquote></p><p> Mizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.</p><p><blockquote>瑞穗经济学家史蒂文-里奇乌托（Steven Ricchiuto）和亚历克斯-佩勒（Alex Pelle）在 5 月 18 日的一份报告中写道，他们预计会议纪要中 “会多次提到'暂时'的价格压力”。他们还强调，4月份消费者价格涨幅最大的许多行业都是需求受疫情打击最大的行业，如酒店和机票。“他们补充说：”到目前为止，[这]证实了美联储的想法。</blockquote></p><p> Yet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:&nbsp; That the central bank would be “attuned and attentive” to any data showing higher price pressures.</p><p><blockquote>然而，在周一的会议上，克拉里达似乎在重复一种不同类型的通胀保证：央行将 “调整并关注 ”任何显示物价压力上升的数据。</blockquote></p><p> “In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”</p><p><blockquote>“在 CPI 报告中，[重新开放]显然给物价带来了上行压力。现在我们的基线观点是，这大部分可能是暂时的，但我们必须调整并关注即将到来的数据，”他说。“我们任务的关键要素是价格稳定，而价格稳定的一个重要组成部分是稳固的通胀预期。如果我们看到价格或通胀面临上行压力，有可能推高通胀预期，我毫不怀疑我们会利用我们的工具来应对这种情况。”</blockquote></p><p> <b>Taper Timeline</b></p><p><blockquote><b>锥度时间轴</b></blockquote></p><p> Investors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.</p><p><blockquote>投资者还将关注央行是否会就何时开始削减每月 1200 亿美元的债券购买规模提供任何额外指导。鲍威尔曾表示，美联储希望在缩减购债规模之前，在实现充分就业和长期平均通胀率2%的目标方面取得 “实质性进一步进展”，但官员们并未提供太多额外指导。</blockquote></p><p> Most on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases&nbsp;late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.</p><p><blockquote>华尔街大多数人预计美联储将在今年夏末或秋季讨论减少或缩减购买量的长期计划。NatWest Markets 在周一的一份报告中表示，预计美联储将在 9 月份开始讨论缩减购买规模，并实际上从明年开始放缓债券购买步伐。</blockquote></p><p> So any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.</p><p><blockquote>因此，最新会议纪要中任何更详细的讨论都可能让投资者感到意外，并可能对市场产生影响。</blockquote></p><p> <b>Labor-Market Outlook</b></p><p><blockquote><b>劳动力市场前景</b></blockquote></p><p> One key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.</p><p><blockquote>决定美联储购买债券（和其他便利措施）前景的一个关键因素是劳动力市场的复苏。在令人失望的四月份就业报告之后，这仍然悬而未决。</blockquote></p><p> Still, there is a chance investors could find more context on one of their questions in the minutes:&nbsp; How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?</p><p><blockquote>尽管如此，投资者还是有机会在会议纪要中找到他们的一个问题的更多背景：多少改善足以让美联储开始撤回宽松政策？换句话说，“实质性的进一步进展”是什么意思？</blockquote></p><p> Before the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.</p><p><blockquote>在 4 月份劳动力市场传来令人失望的消息之前，华尔街大多数人都预计本月就业岗位创造将强劲增长，这是鲍威尔所说的在美国实现美联储目标 “进一步实质性进展 ”之前，需要实现 “一连串 ”强劲复苏的又一步。这可能促使官员们讨论在央行开始退缩之前，复苏需要走多远。</blockquote></p><p> Clarida discussed the April employment report on Monday as well.</p><p><blockquote>克拉里达周一还讨论了4月份的就业报告。</blockquote></p><p></p><p> “What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”</p><p><blockquote>“他说：”四月份的就业报告告诉我，我们在劳动力市场，尤其是服务业实现供需平衡的方式可能需要一些时间，而且随着工人重返工作岗位，价格可能会受到一些上行压力，因此我们必须调整并关注这一数据流。“根据 4 月份的就业报告，我们还没有取得实质性的进一步进展，但随着数据的公布，我们作为一个委员会将不得不对此进行评估，并最终做出判断”。</blockquote></p><p> Ultimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:&nbsp; Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the&nbsp;economic data has been so volatile&nbsp;during the reopening that the picture could change significantly by the time the Fed meets again in June.</p><p><blockquote>归根结底，未来劳动力市场数据的重要性暗示着美联储会议纪要的更广泛启示： 未来几个月的经济数据可能是美联储行动及其消除市场和经济宽松计划的最终仲裁者。重新开放期间的经济数据非常不稳定，到美联储 6 月份再次开会时，情况可能会发生重大变化。</blockquote></p><p> That means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.</p><p><blockquote>这意味着投资者将不得不观望一段时间，以了解央行计划何时开始退缩。</blockquote></p><p> “We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”</p><p><blockquote>“蒙特利尔银行策略师伊恩-林根（Ian Lyngen）写道：”我们不愿将此看涨期权为任何形式的均衡--相反，随着宏观预期的进一步细化，这更有可能证明是一种暂时的持有模式。“显然，我们的问题多于答案”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/inflation-jobs-and-more-to-watch-for-in-todays-fed-minutes-release-51621421812?mod=hp_LEAD_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/inflation-jobs-and-more-to-watch-for-in-todays-fed-minutes-release-51621421812?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103552481","content_text":"The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.\nThe minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:  A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a surprisingly weak jobs report and a stronger-than-expected consumer inflation report, for example.\nAnd unlike last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April. The 10-year yield has dropped to 1.64% from 1.74% on March 31.\nYet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.\nHere’s what strategists expect out of the meeting today, and what Clarida said about the topics:\n“Attuned and Attentive” to “Transitory” Inflation?\nOne popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.\nMizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.\nYet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:  That the central bank would be “attuned and attentive” to any data showing higher price pressures.\n“In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”\nTaper Timeline\nInvestors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.\nMost on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.\nSo any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.\nLabor-Market Outlook\nOne key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.\nStill, there is a chance investors could find more context on one of their questions in the minutes:  How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?\nBefore the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.\nClarida discussed the April employment report on Monday as well.\n“What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”\nUltimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:  Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the economic data has been so volatile during the reopening that the picture could change significantly by the time the Fed meets again in June.\nThat means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.\n“We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":726,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110463962,"gmtCreate":1622495920756,"gmtModify":1634101177142,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":6,"commentSize":10,"repostSize":0,"link":"https://laohu8.com/post/110463962","repostId":"1113386303","repostType":4,"isVote":1,"tweetType":1,"viewCount":813,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153998559,"gmtCreate":1625001624771,"gmtModify":1633946102452,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/153998559","repostId":"1146217494","repostType":4,"isVote":1,"tweetType":1,"viewCount":747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133475625,"gmtCreate":1621804226867,"gmtModify":1634186560386,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment. 🙏","listText":"Like and comment. 🙏","text":"Like and comment. 🙏","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":9,"repostSize":0,"link":"https://laohu8.com/post/133475625","repostId":"2137907575","repostType":4,"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130621031,"gmtCreate":1621544987523,"gmtModify":1634188326486,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Comment and like please. 🙏","listText":"Comment and like please. 🙏","text":"Comment and like please. 🙏","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/130621031","repostId":"1135487235","repostType":4,"isVote":1,"tweetType":1,"viewCount":487,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126641185,"gmtCreate":1624570586447,"gmtModify":1634004345234,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/126641185","repostId":"1186693886","repostType":2,"isVote":1,"tweetType":1,"viewCount":687,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":865485997,"gmtCreate":1633011063042,"gmtModify":1633011203279,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like pls.","listText":"Like pls.","text":"Like pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/865485997","repostId":"2171930838","repostType":4,"isVote":1,"tweetType":1,"viewCount":3501,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":112998785,"gmtCreate":1622840681047,"gmtModify":1634097559065,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"title":"","htmlText":"Like and comment please.","listText":"Like and comment please.","text":"Like and comment please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/112998785","repostId":"1154529120","repostType":4,"repost":{"id":"1154529120","kind":"news","pubTimestamp":1622810459,"share":"https://www.laohunote.com/m/news/1154529120?lang=zh_CN&edition=full","pubTime":"2021-06-04 20:40","market":"us","language":"en","title":"Can Alibaba Stock Hit $500? If You Got Time, Yes<blockquote>阿里巴巴-SW股票能突破500美元吗？如果你有时间，是的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154529120","media":"seekingalpha","summary":"Alibaba is a battleground stock where some see a lot of opportunities, while others see many risks.I believe that there are both opportunities and risks, but would see the prior outweighing the latter.In the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.Since its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:. Alibaba Group'","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Alibaba is a battleground stock where some see a lot of opportunities, while others see many risks.</li>  <li>I believe that there are both opportunities and risks, but would see the prior outweighing the latter.</li>  <li>In the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/567d19950e6c8789ce2192b4503f0fa5\" tg-width=\"1536\" tg-height=\"653\" referrerpolicy=\"no-referrer\"><span>Photo by efetova/iStock via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW是一只战场股票，有些人看到了很多机会，而另一些人则看到了很多风险。</li><li>我相信机遇和风险并存，但我认为前者大于后者。</li><li>从长远来看，阿里巴巴有机会为那些以当前相当低的估值购买的人带来强劲收益。</li></ul><p class=\"t-img-caption\"><span>照片由 efetova/iStock 提供，来自 Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Alibaba Group (BABA) is a leading global high-tech name that continues to generate attractive growth and that offers investors exposure to the high-growth Chinese consumer market. At the same time, through a range of ventures, Alibaba is also active in additional industries, such as cloud computing. Shares have declined considerably over the last couple of months, but I believe that the long-term potential is significant. I would not be surprised to see shares rise towards $500, although that will not happen in the near term.</p><p><blockquote>阿里巴巴-SW集团（BABA）是全球领先的高科技公司，持续产生有吸引力的增长，并为投资者提供了高增长的中国消费市场的机会。同时，通过一系列的创业，阿里巴巴-SW还活跃在额外的行业，比如云计算。过去几个月股价大幅下跌，但我相信长期潜力巨大。看到股价上涨至 500 美元，我不会感到惊讶，尽管这在短期内不会发生。</blockquote></p><p> <b>BABA Stock Price</b></p><p><blockquote><b>阿里巴巴股价</b></blockquote></p><p> Since its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:</p><p><blockquote>自首次公开募股以来，阿里巴巴-SW股价强劲上涨，但还应该提到的是，2020 年下半年股价确实下跌，此后大幅下跌：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8079eeb5384ea003fb3725d3cd1e877f\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：YCharts</span></p></blockquote></p><p> Shares are now basically where they were one year ago, as the gains during summer 2020 have been erased when Ant Financial's IPO plans were stopped. The flat share price performance over the last year is somewhat surprising, though, as Alibaba continued to generate strong results in that time frame. During the last quarter, for example, Alibaba showcased a&nbsp;revenue growth rate of 64%, while revenue growth during the previous quarter was also very strong, at around 50%. This is not the only positive in Alibaba's earnings releases, however. The company also managed to grow its user count by 32 million during the most recent quarter alone, which equates to an annualized user growth rate of around 20%. This bodes well for future quarters, as more users on Alibaba's platform should translate into higher revenues. On top of that, the strong user growth shows that there is still growing demand for the shopping services that Alibaba's platforms offer -- the market is not saturated at all. Alibaba also managed to grow its EBITDA by 25% year over year, which is an attractive growth pace as well, and which was achieved despite growing investments in what management calls key growth areas. Income from operations, meanwhile, grew at an even faster pace, thanks to some operating leverage, rising by 48% year over year when adjusted for the fine that Alibaba had to pay during Q1. It makes, I believe, sense to back out this one-time item to get a clearer picture about Alibaba's underlying, \"core\" profitability during an average quarter.</p><p><blockquote>由于蚂蚁金服的 IPO 计划被叫停，2020 年夏季的涨幅已被抹去，股价现在基本与一年前持平。不过，去年持平的股价表现有些令人惊讶，因为阿里巴巴-SW在那段时间内继续取得强劲的业绩。例如，上一季度阿里巴巴-SW的收入增长率为64%，而上一季度的收入增长也非常强劲，约为50%。然而，这并不是阿里巴巴财报发布中唯一的积极因素。仅在最近一个季度，该公司的用户数量就增加了3200万，相当于年化用户增长率约为20%。这对未来几个季度来说是个好兆头，因为阿里巴巴平台上的更多用户应该会转化为更高的收入。最重要的是，强劲的用户增长表明，对阿里巴巴平台提供的购物服务的需求仍在增长——市场根本没有饱和。阿里巴巴-SW还设法将其 EBITDA 同比增长 25%，这也是一个有吸引力的增长速度，尽管对评级管理关键增长领域的投资不断增加，但仍实现了这一目标。与此同时，由于一些运营杠杆，营业收入增长速度更快，经阿里巴巴-SW第一季度必须支付的罚款调整后，营业收入同比增长 48%。我认为，放弃这一一次性项目是有意义的，以便更清楚地了解阿里巴巴平均一个季度的潜在“核心”盈利能力。</blockquote></p><p> Alibaba Group's weak share price performance, relative to the broad market and other tech names, is thus not the result of weak operating performance, but rather a result of multiple compression, driven by weak investor sentiment due to China exposure and&nbsp;fears about regulation.</p><p><blockquote>因此，相对于大盘和其他科技公司而言，阿里巴巴-SW集团的股价表现疲软并不是经营业绩疲软的结果，而是由于投资者情绪疲软导致中国风险敞口和对监管的担忧导致的多重压缩的结果。</blockquote></p><p> At its current price of $220, BABA trades at a quite large discount compared to the current consensus analyst price target of $298. If Alibaba were to hit that, shares would gain 35%. Analyst price targets are usually issued with a 1-year time frame, thus, if the analyst community is correct, Alibaba could be a great investment. From a valuation standpoint, this price target doesn't seem outrageous at all, as $298 would equate to around 29x this year's expected net profits, or 23x next year's net earnings. The latter is likely the more telling one when we talk about a price target for summer 2022, i.e. 1 year from now.</p><p><blockquote>以目前 220 美元的价格计算，与目前分析师一致的目标价 298 美元相比，阿里巴巴的股价有相当大的折扣。如果阿里巴巴-SW达到这一目标，股价将上涨 35%。分析师目标价通常以 1 年为期限发布，因此，如果分析师社区是正确的，阿里巴巴-SW可能是一项很好的投资。从估值的角度来看，这个价格目标似乎一点也不离谱，因为 298 美元相当于今年预期净利润的约 29 倍，或明年净利润的 23 倍。当我们谈论 2022 年夏季（即一年后）的价格目标时，后者可能更能说明问题。</blockquote></p><p> <b>Can Alibaba Stock Hit $500?</b></p><p><blockquote><b>阿里巴巴-SW股票能突破500美元吗？</b></blockquote></p><p> The answer to that question, I think, depends on your time frame. If you are looking at a 12-month window, then Alibaba will most likely not be able to hit $500. The ~$300 price target seems achievable, although that is, of course, also not guaranteed. If, however, we take a longer-term view, then $500 seems like a share price that BABA could hit eventually. Let's look at a couple of examples.</p><p><blockquote>我认为，这个问题的答案取决于你的时间框架。如果你看的是12个月的窗口，那么阿里巴巴-SW很可能无法达到500美元。300美元左右的价格目标似乎是可以实现的，尽管这当然也不能保证。然而，如果我们从长远来看，那么 500 美元似乎是阿里巴巴最终可能达到的股价。让我们看几个例子。</blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $20 at some point and traded at an earnings multiple of 25, then shares would trade at $500.</i></p><p><blockquote><i>- 如果阿里巴巴-SW在某个时候每股收益为 20 美元，并且市盈率为 25，那么股票的交易价格将为 500 美元。</i></blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $25 and traded at a 20x earnings multiple, then shares would trade at $500.</i></p><p><blockquote><i>- 如果阿里巴巴-SW每股收益为 25 美元，市盈率为 20 倍，那么股票交易价格将为 500 美元。</i></blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $17 and traded at 29x its net profits, then shares would trade at (marginally below) $500.</i></p><p><blockquote><i>- 如果阿里巴巴-SW每股收益为 17 美元，交易价格为净利润的 29 倍，那么股价将（略低于）500 美元。</i></blockquote></p><p></p><p> We see that there are many scenarios that could get us to a $500 share price for BABA, some of them more likely than others. Of course, the higher your target multiple, the lower the earnings that would be required. This, in turn, means that the price target can be hit sooner, as less cumulative earnings growth would be required. When we take a look at how Alibaba was valued in the past, we see that the longer-term median earnings multiples for BABA look like this:</p><p><blockquote>我们看到，有许多情况可能会让阿里巴巴的股价达到 500 美元，其中一些情况比其他情况更有可能。当然，你的目标倍数越高，所需的收入就越低。这反过来意味着价格目标可以更快实现，因为所需的累计盈利增长较少。当我们查看阿里巴巴-SW过去的估值时，我们会发现阿里巴巴的长期市盈率中位数如下：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dd2d42b7094deb394266d6410287c2e4\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：YCharts</span></p></blockquote></p><p> At 30-40x net earnings, Alibaba was clearly trading at a massive premium relative to how shares are valued today (around 20x this year's earnings). I think that the current valuation is too low, but on the other hand, I do not expect Alibaba to trade at 30, 35, or even 40x net profits in coming years. Due to the growing scale of Alibaba, which makes it a little harder to maintain its excellent growth in coming years, shares will likely trade at a lower valuation in coming years, compared to how they were valued in the past.</p><p><blockquote>阿里巴巴-SW的净利润为 30-40 倍，相对于目前的股票估值（约为今年收益的 20 倍），其交易价格显然大幅溢价。我认为目前的估值太低了，但另一方面，我预计阿里巴巴-SW未来几年的净利润不会达到 30 倍、35 倍甚至 40 倍。由于阿里巴巴-SW的规模不断扩大，这使得其在未来几年保持出色的增长变得更加困难，与过去的估值相比，未来几年的股票估值可能会更低。</blockquote></p><p> I still think that shares do have some valuation expansion potential from the current earnings multiple of around 21, thus let's assume that shares trade at 23x net profits in the future. This would still represent a massive discount versus the historic valuation, and also a substantial discount compared to how US-based high-tech mega-caps are valued -- Amazon (AMZN), for example, trades at 59x this year's earnings.</p><p><blockquote>我仍然认为，从目前21倍左右的市盈率来看，股票确实有一些估值扩张潜力，因此让我们假设股票未来的交易价格是净利润的23倍。与历史估值相比，这仍然是一个巨大的折扣，与美国高科技大盘股的估值相比，也是一个巨大的折扣——例如，亚马逊 (AMZN) 的交易价格是今年市盈率的 59 倍。</blockquote></p><p> If we want to get to a $500 share price for BABA using a 23x earnings multiple, then we get to earnings per share of $21.70 that Alibaba must generate. When could this be the case? In the following chart, we see EPS estimates for the current year, next year (CY 2022), and CY 2023:</p><p><blockquote>如果我们想使用 23 倍市盈率使阿里巴巴的股价达到 500 美元，那么阿里巴巴-SW必须产生的每股收益为 21.70 美元。什么时候会是这样？在下图中，我们看到了今年、明年（2022 财年）和 2023 财年的每股收益预测：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6fcf78e0b071eff9753afbdcd96f751c\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：YCharts</span></p></blockquote></p><p> If analysts are right, Alibaba will not get to earn $22 a share through 2023, and I think that is realistic. I do not see earnings per share rising by 100%+ between this year and 2023, either. From 2023, it would take another 43% increase in Alibaba's earnings per share to get to $21.70, which is our \"target EPS\" for a $500 share price.</p><p><blockquote>如果分析师是正确的，阿里巴巴-SW到 2023 年将无法实现每股 22 美元的盈利，我认为这是现实的。我也不认为今年到 2023 年每股收益会增长 100% 以上。从2023年开始，阿里巴巴的每股收益需要再增长43%才能达到21.70美元，这是我们500美元股价的“目标每股收益”。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b4c351b4b5eb3328191ccaa9a3b776c\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：YCharts</span></p></blockquote></p><p> Analysts are currently forecasting long-term EPS growth of around 27%, which would mean it would take Alibaba about 1.5 years to grow its EPS from $15.20 (2023 estimate) to our target of $21.70. Even if we assume that this is too optimistic and that growth will be just 20% in 2024 and 2025, EPS of $21.70 could be hit by the end of 2025. So, in other words, if Alibaba grows a little less than what analysts are forecasting right now, Alibaba could trade at $500 by the end of 2025 -- or 4.5 years from now. Note that this scenario does not require a high earnings multiple at all -- at 23x net profits, Alibaba wouldn't be expensive, I believe.</p><p><blockquote>分析师目前预测长期每股收益增长约 27%，这意味着阿里巴巴-SW需要大约 1.5 年的时间才能将每股收益从 15.20 美元（2023 年估计）增长到我们的目标 21.70 美元。即使我们假设这过于乐观，2024 年和 2025 年的增长率仅为 20%，到 2025 年底，每股收益也可能达到 21.70 美元。因此，换句话说，如果阿里巴巴-SW的增长略低于分析师目前的预测，那么到 2025 年底（即 4.5 年后），阿里巴巴-SW的交易价格可能达到 500 美元。请注意，这种情况根本不需要高市盈率——我相信，在净利润的 23 倍下，阿里巴巴-SW不会很贵。</blockquote></p><p> We can get even more conservative and assume that the 2023 EPS estimate is 10% too high and that EPS will grow by just 17% a year in the years beyond 2023 (versus a long-term forecast of 27% a year by the analyst community). In that case, Alibaba would hit $21.70 in earnings per share in 2026, and shares would rise to $500 over the next 5.5 years. Even in this scenario, BABA wouldn't be a bad investment at all -- a 130% share price increase from the current level over the next 5.5 years would equate to annualized returns of 16%.</p><p><blockquote>我们可以更加保守，假设 2023 年每股收益预测过高 10%，并且 2023 年之后的几年每股收益每年仅增长 17%（而分析师社区的长期预测为每年 27%）。在这种情况下，阿里巴巴-SW 2026 年的每股收益将达到 21.70 美元，未来 5.5 年内股价将升至 500 美元。即使在这种情况下，阿里巴巴也根本不是一项糟糕的投资——未来 5.5 年内股价从当前水平上涨 130%，年化回报率为 16%。</blockquote></p><p> So, to sum this section up, I'd say<i>yes, BABA can hit $500</i>-- but it will realistically take a couple of years. By the mid-2020s, this seems like a very achievable goal to me, although there are, of course, no guarantees.</p><p><blockquote>所以，总结这一部分，我会说<i>是的，爸爸可以达到 500 美元</i>——但实际上这需要几年时间。到 2020 年代中期，这对我来说似乎是一个非常容易实现的目标，尽管当然，没有任何保证。</blockquote></p><p> <b>Is Alibaba Stock A Buy Or Sell Now?</b></p><p><blockquote><b>阿里巴巴-SW股票现在是买入还是卖出？</b></blockquote></p><p> Alibaba Group is, I believe, a strong investment. The company generates strong growth, profits from multiple long-term macro trends, such as growing consumer spending in China, growing e-commerce market share, and cloud computing. There are, however, risks to consider: Alibaba is highly China-dependent, and in case the economic growth story in China ends, Alibaba would be hurt a lot. On top of that, Alibaba could be targeted again by regulators, although I personally think that it is not in China's best interest to hurt one of its highest-growth tech companies.</p><p><blockquote>我认为，阿里巴巴-SW集团是一项强有力的投资。该公司从多个长期宏观趋势中实现了强劲的增长和利润，例如中国不断增长的消费者支出、不断增长的电子商务市场份额和云计算。然而，也有一些风险需要考虑：阿里巴巴-SW高度依赖中国，如果中国的经济增长故事结束，阿里巴巴-SW将受到很大伤害。最重要的是，阿里巴巴-SW可能会再次成为监管机构的目标，尽管我个人认为伤害中国增长最快的科技公司之一不符合中国的最佳利益。</blockquote></p><p></p><p> For those that worry about these risks, Alibaba may not be the right choice, but for those that see Alibaba as a potentially very rewarding play on Chinese consumers, BABA could be a strong pick in a diversified portfolio. I belong to the latter group and thus rate the stock a buy at current valuations, expecting significant upside over the coming years. Depending on your risk tolerance and how you weigh the opportunities and threats of investing in Chinese companies, you may decide differently, however.</p><p><blockquote>对于那些担心这些风险的人来说，阿里巴巴-SW可能不是正确的选择，但对于那些认为阿里巴巴-SW对中国消费者来说可能是一个非常有益的游戏的人来说，阿里巴巴可能是多元化投资组合中的一个有力选择。我属于后一类，因此以当前估值将该股评级为买入，预计未来几年将有显着上涨空间。然而，根据你的风险承受能力以及你如何权衡投资中国公司的机会和威胁，你可能会做出不同的决定。</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>Can Alibaba Stock Hit $500? If You Got Time, Yes<blockquote>阿里巴巴-SW股票能突破500美元吗？如果你有时间，是的</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\">\nCan Alibaba Stock Hit $500? If You Got Time, Yes<blockquote>阿里巴巴-SW股票能突破500美元吗？如果你有时间，是的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-04 20:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Alibaba is a battleground stock where some see a lot of opportunities, while others see many risks.</li>  <li>I believe that there are both opportunities and risks, but would see the prior outweighing the latter.</li>  <li>In the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/567d19950e6c8789ce2192b4503f0fa5\" tg-width=\"1536\" tg-height=\"653\" referrerpolicy=\"no-referrer\"><span>Photo by efetova/iStock via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW是一只战场股票，有些人看到了很多机会，而另一些人则看到了很多风险。</li><li>我相信机遇和风险并存，但我认为前者大于后者。</li><li>从长远来看，阿里巴巴有机会为那些以当前相当低的估值购买的人带来强劲收益。</li></ul><p class=\"t-img-caption\"><span>照片由 efetova/iStock 提供，来自 Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Alibaba Group (BABA) is a leading global high-tech name that continues to generate attractive growth and that offers investors exposure to the high-growth Chinese consumer market. At the same time, through a range of ventures, Alibaba is also active in additional industries, such as cloud computing. Shares have declined considerably over the last couple of months, but I believe that the long-term potential is significant. I would not be surprised to see shares rise towards $500, although that will not happen in the near term.</p><p><blockquote>阿里巴巴-SW集团（BABA）是全球领先的高科技公司，持续产生有吸引力的增长，并为投资者提供了高增长的中国消费市场的机会。同时，通过一系列的创业，阿里巴巴-SW还活跃在额外的行业，比如云计算。过去几个月股价大幅下跌，但我相信长期潜力巨大。看到股价上涨至 500 美元，我不会感到惊讶，尽管这在短期内不会发生。</blockquote></p><p> <b>BABA Stock Price</b></p><p><blockquote><b>阿里巴巴股价</b></blockquote></p><p> Since its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:</p><p><blockquote>自首次公开募股以来，阿里巴巴-SW股价强劲上涨，但还应该提到的是，2020 年下半年股价确实下跌，此后大幅下跌：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8079eeb5384ea003fb3725d3cd1e877f\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：YCharts</span></p></blockquote></p><p> Shares are now basically where they were one year ago, as the gains during summer 2020 have been erased when Ant Financial's IPO plans were stopped. The flat share price performance over the last year is somewhat surprising, though, as Alibaba continued to generate strong results in that time frame. During the last quarter, for example, Alibaba showcased a&nbsp;revenue growth rate of 64%, while revenue growth during the previous quarter was also very strong, at around 50%. This is not the only positive in Alibaba's earnings releases, however. The company also managed to grow its user count by 32 million during the most recent quarter alone, which equates to an annualized user growth rate of around 20%. This bodes well for future quarters, as more users on Alibaba's platform should translate into higher revenues. On top of that, the strong user growth shows that there is still growing demand for the shopping services that Alibaba's platforms offer -- the market is not saturated at all. Alibaba also managed to grow its EBITDA by 25% year over year, which is an attractive growth pace as well, and which was achieved despite growing investments in what management calls key growth areas. Income from operations, meanwhile, grew at an even faster pace, thanks to some operating leverage, rising by 48% year over year when adjusted for the fine that Alibaba had to pay during Q1. It makes, I believe, sense to back out this one-time item to get a clearer picture about Alibaba's underlying, \"core\" profitability during an average quarter.</p><p><blockquote>由于蚂蚁金服的 IPO 计划被叫停，2020 年夏季的涨幅已被抹去，股价现在基本与一年前持平。不过，去年持平的股价表现有些令人惊讶，因为阿里巴巴-SW在那段时间内继续取得强劲的业绩。例如，上一季度阿里巴巴-SW的收入增长率为64%，而上一季度的收入增长也非常强劲，约为50%。然而，这并不是阿里巴巴财报发布中唯一的积极因素。仅在最近一个季度，该公司的用户数量就增加了3200万，相当于年化用户增长率约为20%。这对未来几个季度来说是个好兆头，因为阿里巴巴平台上的更多用户应该会转化为更高的收入。最重要的是，强劲的用户增长表明，对阿里巴巴平台提供的购物服务的需求仍在增长——市场根本没有饱和。阿里巴巴-SW还设法将其 EBITDA 同比增长 25%，这也是一个有吸引力的增长速度，尽管对评级管理关键增长领域的投资不断增加，但仍实现了这一目标。与此同时，由于一些运营杠杆，营业收入增长速度更快，经阿里巴巴-SW第一季度必须支付的罚款调整后，营业收入同比增长 48%。我认为，放弃这一一次性项目是有意义的，以便更清楚地了解阿里巴巴平均一个季度的潜在“核心”盈利能力。</blockquote></p><p> Alibaba Group's weak share price performance, relative to the broad market and other tech names, is thus not the result of weak operating performance, but rather a result of multiple compression, driven by weak investor sentiment due to China exposure and&nbsp;fears about regulation.</p><p><blockquote>因此，相对于大盘和其他科技公司而言，阿里巴巴-SW集团的股价表现疲软并不是经营业绩疲软的结果，而是由于投资者情绪疲软导致中国风险敞口和对监管的担忧导致的多重压缩的结果。</blockquote></p><p> At its current price of $220, BABA trades at a quite large discount compared to the current consensus analyst price target of $298. If Alibaba were to hit that, shares would gain 35%. Analyst price targets are usually issued with a 1-year time frame, thus, if the analyst community is correct, Alibaba could be a great investment. From a valuation standpoint, this price target doesn't seem outrageous at all, as $298 would equate to around 29x this year's expected net profits, or 23x next year's net earnings. The latter is likely the more telling one when we talk about a price target for summer 2022, i.e. 1 year from now.</p><p><blockquote>以目前 220 美元的价格计算，与目前分析师一致的目标价 298 美元相比，阿里巴巴的股价有相当大的折扣。如果阿里巴巴-SW达到这一目标，股价将上涨 35%。分析师目标价通常以 1 年为期限发布，因此，如果分析师社区是正确的，阿里巴巴-SW可能是一项很好的投资。从估值的角度来看，这个价格目标似乎一点也不离谱，因为 298 美元相当于今年预期净利润的约 29 倍，或明年净利润的 23 倍。当我们谈论 2022 年夏季（即一年后）的价格目标时，后者可能更能说明问题。</blockquote></p><p> <b>Can Alibaba Stock Hit $500?</b></p><p><blockquote><b>阿里巴巴-SW股票能突破500美元吗？</b></blockquote></p><p> The answer to that question, I think, depends on your time frame. If you are looking at a 12-month window, then Alibaba will most likely not be able to hit $500. The ~$300 price target seems achievable, although that is, of course, also not guaranteed. If, however, we take a longer-term view, then $500 seems like a share price that BABA could hit eventually. Let's look at a couple of examples.</p><p><blockquote>我认为，这个问题的答案取决于你的时间框架。如果你看的是12个月的窗口，那么阿里巴巴-SW很可能无法达到500美元。300美元左右的价格目标似乎是可以实现的，尽管这当然也不能保证。然而，如果我们从长远来看，那么 500 美元似乎是阿里巴巴最终可能达到的股价。让我们看几个例子。</blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $20 at some point and traded at an earnings multiple of 25, then shares would trade at $500.</i></p><p><blockquote><i>- 如果阿里巴巴-SW在某个时候每股收益为 20 美元，并且市盈率为 25，那么股票的交易价格将为 500 美元。</i></blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $25 and traded at a 20x earnings multiple, then shares would trade at $500.</i></p><p><blockquote><i>- 如果阿里巴巴-SW每股收益为 25 美元，市盈率为 20 倍，那么股票交易价格将为 500 美元。</i></blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $17 and traded at 29x its net profits, then shares would trade at (marginally below) $500.</i></p><p><blockquote><i>- 如果阿里巴巴-SW每股收益为 17 美元，交易价格为净利润的 29 倍，那么股价将（略低于）500 美元。</i></blockquote></p><p></p><p> We see that there are many scenarios that could get us to a $500 share price for BABA, some of them more likely than others. Of course, the higher your target multiple, the lower the earnings that would be required. This, in turn, means that the price target can be hit sooner, as less cumulative earnings growth would be required. When we take a look at how Alibaba was valued in the past, we see that the longer-term median earnings multiples for BABA look like this:</p><p><blockquote>我们看到，有许多情况可能会让阿里巴巴的股价达到 500 美元，其中一些情况比其他情况更有可能。当然，你的目标倍数越高，所需的收入就越低。这反过来意味着价格目标可以更快实现，因为所需的累计盈利增长较少。当我们查看阿里巴巴-SW过去的估值时，我们会发现阿里巴巴的长期市盈率中位数如下：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dd2d42b7094deb394266d6410287c2e4\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：YCharts</span></p></blockquote></p><p> At 30-40x net earnings, Alibaba was clearly trading at a massive premium relative to how shares are valued today (around 20x this year's earnings). I think that the current valuation is too low, but on the other hand, I do not expect Alibaba to trade at 30, 35, or even 40x net profits in coming years. Due to the growing scale of Alibaba, which makes it a little harder to maintain its excellent growth in coming years, shares will likely trade at a lower valuation in coming years, compared to how they were valued in the past.</p><p><blockquote>阿里巴巴-SW的净利润为 30-40 倍，相对于目前的股票估值（约为今年收益的 20 倍），其交易价格显然大幅溢价。我认为目前的估值太低了，但另一方面，我预计阿里巴巴-SW未来几年的净利润不会达到 30 倍、35 倍甚至 40 倍。由于阿里巴巴-SW的规模不断扩大，这使得其在未来几年保持出色的增长变得更加困难，与过去的估值相比，未来几年的股票估值可能会更低。</blockquote></p><p> I still think that shares do have some valuation expansion potential from the current earnings multiple of around 21, thus let's assume that shares trade at 23x net profits in the future. This would still represent a massive discount versus the historic valuation, and also a substantial discount compared to how US-based high-tech mega-caps are valued -- Amazon (AMZN), for example, trades at 59x this year's earnings.</p><p><blockquote>我仍然认为，从目前21倍左右的市盈率来看，股票确实有一些估值扩张潜力，因此让我们假设股票未来的交易价格是净利润的23倍。与历史估值相比，这仍然是一个巨大的折扣，与美国高科技大盘股的估值相比，也是一个巨大的折扣——例如，亚马逊 (AMZN) 的交易价格是今年市盈率的 59 倍。</blockquote></p><p> If we want to get to a $500 share price for BABA using a 23x earnings multiple, then we get to earnings per share of $21.70 that Alibaba must generate. When could this be the case? In the following chart, we see EPS estimates for the current year, next year (CY 2022), and CY 2023:</p><p><blockquote>如果我们想使用 23 倍市盈率使阿里巴巴的股价达到 500 美元，那么阿里巴巴-SW必须产生的每股收益为 21.70 美元。什么时候会是这样？在下图中，我们看到了今年、明年（2022 财年）和 2023 财年的每股收益预测：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6fcf78e0b071eff9753afbdcd96f751c\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：YCharts</span></p></blockquote></p><p> If analysts are right, Alibaba will not get to earn $22 a share through 2023, and I think that is realistic. I do not see earnings per share rising by 100%+ between this year and 2023, either. From 2023, it would take another 43% increase in Alibaba's earnings per share to get to $21.70, which is our \"target EPS\" for a $500 share price.</p><p><blockquote>如果分析师是正确的，阿里巴巴-SW到 2023 年将无法实现每股 22 美元的盈利，我认为这是现实的。我也不认为今年到 2023 年每股收益会增长 100% 以上。从2023年开始，阿里巴巴的每股收益需要再增长43%才能达到21.70美元，这是我们500美元股价的“目标每股收益”。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b4c351b4b5eb3328191ccaa9a3b776c\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：YCharts</span></p></blockquote></p><p> Analysts are currently forecasting long-term EPS growth of around 27%, which would mean it would take Alibaba about 1.5 years to grow its EPS from $15.20 (2023 estimate) to our target of $21.70. Even if we assume that this is too optimistic and that growth will be just 20% in 2024 and 2025, EPS of $21.70 could be hit by the end of 2025. So, in other words, if Alibaba grows a little less than what analysts are forecasting right now, Alibaba could trade at $500 by the end of 2025 -- or 4.5 years from now. Note that this scenario does not require a high earnings multiple at all -- at 23x net profits, Alibaba wouldn't be expensive, I believe.</p><p><blockquote>分析师目前预测长期每股收益增长约 27%，这意味着阿里巴巴-SW需要大约 1.5 年的时间才能将每股收益从 15.20 美元（2023 年估计）增长到我们的目标 21.70 美元。即使我们假设这过于乐观，2024 年和 2025 年的增长率仅为 20%，到 2025 年底，每股收益也可能达到 21.70 美元。因此，换句话说，如果阿里巴巴-SW的增长略低于分析师目前的预测，那么到 2025 年底（即 4.5 年后），阿里巴巴-SW的交易价格可能达到 500 美元。请注意，这种情况根本不需要高市盈率——我相信，在净利润的 23 倍下，阿里巴巴-SW不会很贵。</blockquote></p><p> We can get even more conservative and assume that the 2023 EPS estimate is 10% too high and that EPS will grow by just 17% a year in the years beyond 2023 (versus a long-term forecast of 27% a year by the analyst community). In that case, Alibaba would hit $21.70 in earnings per share in 2026, and shares would rise to $500 over the next 5.5 years. Even in this scenario, BABA wouldn't be a bad investment at all -- a 130% share price increase from the current level over the next 5.5 years would equate to annualized returns of 16%.</p><p><blockquote>我们可以更加保守，假设 2023 年每股收益预测过高 10%，并且 2023 年之后的几年每股收益每年仅增长 17%（而分析师社区的长期预测为每年 27%）。在这种情况下，阿里巴巴-SW 2026 年的每股收益将达到 21.70 美元，未来 5.5 年内股价将升至 500 美元。即使在这种情况下，阿里巴巴也根本不是一项糟糕的投资——未来 5.5 年内股价从当前水平上涨 130%，年化回报率为 16%。</blockquote></p><p> So, to sum this section up, I'd say<i>yes, BABA can hit $500</i>-- but it will realistically take a couple of years. By the mid-2020s, this seems like a very achievable goal to me, although there are, of course, no guarantees.</p><p><blockquote>所以，总结这一部分，我会说<i>是的，爸爸可以达到 500 美元</i>——但实际上这需要几年时间。到 2020 年代中期，这对我来说似乎是一个非常容易实现的目标，尽管当然，没有任何保证。</blockquote></p><p> <b>Is Alibaba Stock A Buy Or Sell Now?</b></p><p><blockquote><b>阿里巴巴-SW股票现在是买入还是卖出？</b></blockquote></p><p> Alibaba Group is, I believe, a strong investment. The company generates strong growth, profits from multiple long-term macro trends, such as growing consumer spending in China, growing e-commerce market share, and cloud computing. There are, however, risks to consider: Alibaba is highly China-dependent, and in case the economic growth story in China ends, Alibaba would be hurt a lot. On top of that, Alibaba could be targeted again by regulators, although I personally think that it is not in China's best interest to hurt one of its highest-growth tech companies.</p><p><blockquote>我认为，阿里巴巴-SW集团是一项强有力的投资。该公司从多个长期宏观趋势中实现了强劲的增长和利润，例如中国不断增长的消费者支出、不断增长的电子商务市场份额和云计算。然而，也有一些风险需要考虑：阿里巴巴-SW高度依赖中国，如果中国的经济增长故事结束，阿里巴巴-SW将受到很大伤害。最重要的是，阿里巴巴-SW可能会再次成为监管机构的目标，尽管我个人认为伤害中国增长最快的科技公司之一不符合中国的最佳利益。</blockquote></p><p></p><p> For those that worry about these risks, Alibaba may not be the right choice, but for those that see Alibaba as a potentially very rewarding play on Chinese consumers, BABA could be a strong pick in a diversified portfolio. I belong to the latter group and thus rate the stock a buy at current valuations, expecting significant upside over the coming years. Depending on your risk tolerance and how you weigh the opportunities and threats of investing in Chinese companies, you may decide differently, however.</p><p><blockquote>对于那些担心这些风险的人来说，阿里巴巴-SW可能不是正确的选择，但对于那些认为阿里巴巴-SW对中国消费者来说可能是一个非常有益的游戏的人来说，阿里巴巴可能是多元化投资组合中的一个有力选择。我属于后一类，因此以当前估值将该股评级为买入，预计未来几年将有显着上涨空间。然而，根据你的风险承受能力以及你如何权衡投资中国公司的机会和威胁，你可能会做出不同的决定。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4432992-alibaba-stock-hit-500\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4432992-alibaba-stock-hit-500","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154529120","content_text":"Summary\n\nAlibaba is a battleground stock where some see a lot of opportunities, while others see many risks.\nI believe that there are both opportunities and risks, but would see the prior outweighing the latter.\nIn the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.\n\nPhoto by efetova/iStock via Getty Images\nArticle Thesis\nAlibaba Group (BABA) is a leading global high-tech name that continues to generate attractive growth and that offers investors exposure to the high-growth Chinese consumer market. At the same time, through a range of ventures, Alibaba is also active in additional industries, such as cloud computing. Shares have declined considerably over the last couple of months, but I believe that the long-term potential is significant. I would not be surprised to see shares rise towards $500, although that will not happen in the near term.\nBABA Stock Price\nSince its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:\nData byYCharts\nShares are now basically where they were one year ago, as the gains during summer 2020 have been erased when Ant Financial's IPO plans were stopped. The flat share price performance over the last year is somewhat surprising, though, as Alibaba continued to generate strong results in that time frame. During the last quarter, for example, Alibaba showcased a revenue growth rate of 64%, while revenue growth during the previous quarter was also very strong, at around 50%. This is not the only positive in Alibaba's earnings releases, however. The company also managed to grow its user count by 32 million during the most recent quarter alone, which equates to an annualized user growth rate of around 20%. This bodes well for future quarters, as more users on Alibaba's platform should translate into higher revenues. On top of that, the strong user growth shows that there is still growing demand for the shopping services that Alibaba's platforms offer -- the market is not saturated at all. Alibaba also managed to grow its EBITDA by 25% year over year, which is an attractive growth pace as well, and which was achieved despite growing investments in what management calls key growth areas. Income from operations, meanwhile, grew at an even faster pace, thanks to some operating leverage, rising by 48% year over year when adjusted for the fine that Alibaba had to pay during Q1. It makes, I believe, sense to back out this one-time item to get a clearer picture about Alibaba's underlying, \"core\" profitability during an average quarter.\nAlibaba Group's weak share price performance, relative to the broad market and other tech names, is thus not the result of weak operating performance, but rather a result of multiple compression, driven by weak investor sentiment due to China exposure and fears about regulation.\nAt its current price of $220, BABA trades at a quite large discount compared to the current consensus analyst price target of $298. If Alibaba were to hit that, shares would gain 35%. Analyst price targets are usually issued with a 1-year time frame, thus, if the analyst community is correct, Alibaba could be a great investment. From a valuation standpoint, this price target doesn't seem outrageous at all, as $298 would equate to around 29x this year's expected net profits, or 23x next year's net earnings. The latter is likely the more telling one when we talk about a price target for summer 2022, i.e. 1 year from now.\nCan Alibaba Stock Hit $500?\nThe answer to that question, I think, depends on your time frame. If you are looking at a 12-month window, then Alibaba will most likely not be able to hit $500. The ~$300 price target seems achievable, although that is, of course, also not guaranteed. If, however, we take a longer-term view, then $500 seems like a share price that BABA could hit eventually. Let's look at a couple of examples.\n- If Alibaba were to generate earnings per share of $20 at some point and traded at an earnings multiple of 25, then shares would trade at $500.\n- If Alibaba were to generate earnings per share of $25 and traded at a 20x earnings multiple, then shares would trade at $500.\n- If Alibaba were to generate earnings per share of $17 and traded at 29x its net profits, then shares would trade at (marginally below) $500.\nWe see that there are many scenarios that could get us to a $500 share price for BABA, some of them more likely than others. Of course, the higher your target multiple, the lower the earnings that would be required. This, in turn, means that the price target can be hit sooner, as less cumulative earnings growth would be required. When we take a look at how Alibaba was valued in the past, we see that the longer-term median earnings multiples for BABA look like this:\nData byYCharts\nAt 30-40x net earnings, Alibaba was clearly trading at a massive premium relative to how shares are valued today (around 20x this year's earnings). I think that the current valuation is too low, but on the other hand, I do not expect Alibaba to trade at 30, 35, or even 40x net profits in coming years. Due to the growing scale of Alibaba, which makes it a little harder to maintain its excellent growth in coming years, shares will likely trade at a lower valuation in coming years, compared to how they were valued in the past.\nI still think that shares do have some valuation expansion potential from the current earnings multiple of around 21, thus let's assume that shares trade at 23x net profits in the future. This would still represent a massive discount versus the historic valuation, and also a substantial discount compared to how US-based high-tech mega-caps are valued -- Amazon (AMZN), for example, trades at 59x this year's earnings.\nIf we want to get to a $500 share price for BABA using a 23x earnings multiple, then we get to earnings per share of $21.70 that Alibaba must generate. When could this be the case? In the following chart, we see EPS estimates for the current year, next year (CY 2022), and CY 2023:\nData byYCharts\nIf analysts are right, Alibaba will not get to earn $22 a share through 2023, and I think that is realistic. I do not see earnings per share rising by 100%+ between this year and 2023, either. From 2023, it would take another 43% increase in Alibaba's earnings per share to get to $21.70, which is our \"target EPS\" for a $500 share price.\nData byYCharts\nAnalysts are currently forecasting long-term EPS growth of around 27%, which would mean it would take Alibaba about 1.5 years to grow its EPS from $15.20 (2023 estimate) to our target of $21.70. Even if we assume that this is too optimistic and that growth will be just 20% in 2024 and 2025, EPS of $21.70 could be hit by the end of 2025. So, in other words, if Alibaba grows a little less than what analysts are forecasting right now, Alibaba could trade at $500 by the end of 2025 -- or 4.5 years from now. Note that this scenario does not require a high earnings multiple at all -- at 23x net profits, Alibaba wouldn't be expensive, I believe.\nWe can get even more conservative and assume that the 2023 EPS estimate is 10% too high and that EPS will grow by just 17% a year in the years beyond 2023 (versus a long-term forecast of 27% a year by the analyst community). In that case, Alibaba would hit $21.70 in earnings per share in 2026, and shares would rise to $500 over the next 5.5 years. Even in this scenario, BABA wouldn't be a bad investment at all -- a 130% share price increase from the current level over the next 5.5 years would equate to annualized returns of 16%.\nSo, to sum this section up, I'd sayyes, BABA can hit $500-- but it will realistically take a couple of years. By the mid-2020s, this seems like a very achievable goal to me, although there are, of course, no guarantees.\nIs Alibaba Stock A Buy Or Sell Now?\nAlibaba Group is, I believe, a strong investment. The company generates strong growth, profits from multiple long-term macro trends, such as growing consumer spending in China, growing e-commerce market share, and cloud computing. There are, however, risks to consider: Alibaba is highly China-dependent, and in case the economic growth story in China ends, Alibaba would be hurt a lot. On top of that, Alibaba could be targeted again by regulators, although I personally think that it is not in China's best interest to hurt one of its highest-growth tech companies.\nFor those that worry about these risks, Alibaba may not be the right choice, but for those that see Alibaba as a potentially very rewarding play on Chinese consumers, BABA could be a strong pick in a diversified portfolio. I belong to the latter group and thus rate the stock a buy at current valuations, expecting significant upside over the coming years. Depending on your risk tolerance and how you weigh the opportunities and threats of investing in Chinese companies, you may decide differently, however.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":527,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}