HQZ的个人主页 - 老虎社区

HQZ

HQZ

暂无个人介绍

IP属地：未知

9关注

3粉丝

0主题

0勋章

2021-04-28

Yea

Analysts like Spotify's price hikes, though user growth may pay the cost<blockquote>分析师喜欢Spotify的提价，尽管用户增长可能会付出代价</blockquote>

2021-03-28

Oh my

Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</blockquote>

2021-04-12

Merge merge merge

Aphria shares drop 13% as results trail consensus; top line hit by lockdowns across Canada<blockquote>由于业绩落后于共识，Aphria股价下跌13%；加拿大各地封锁影响营收</blockquote>

2021-12-20

Some good news at least

Moderna shares surged nearly 6% in premarket trading<blockquote>Moderna股价在盘前交易中飙升近6%</blockquote>

2021-06-17

Nice

抱歉，原内容已删除

2021-10-22

Lol nice 1

抱歉，原内容已删除

2021-05-02

Wow!!!!!

抱歉，原内容已删除

2021-03-30

Gg

抱歉，原内容已删除

2021-04-28

Nicely done

UPS lifts freight and logistics sector with strong earnings report<blockquote>UPS凭借强劲的盈利报告提振货运和物流行业</blockquote>

2021-04-05

Gd gd

T-Mobile, AMD, Levi Strauss, Constellation Brands, and Other Stocks to Watch This Week<blockquote>T-Mobile、AMD、李维斯、Constellation Brands和其他本周值得关注的股票</blockquote>

2021-02-25

Nice

抱歉，原内容已删除

2021-02-04

Ok

抱歉，原内容已删除

2021-09-27

Great ariticle, would you like to share it?

抱歉，原内容已删除

2021-04-09

Omg rip

抱歉，原内容已删除

2021-03-12

Gd

抱歉，原内容已删除

2021-03-09

Like and comment pls

抱歉，原内容已删除

2021-02-25

Gd gd

抱歉，原内容已删除

2021-02-11

Hi

抱歉，原内容已删除

2021-02-11

Nice

抱歉，原内容已删除

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3574938001875818","uuid":"3574938001875818","gmtCreate":1611844918362,"gmtModify":1615256517819,"name":"HQZ","pinyin":"hqz","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":3,"headSize":9,"tweetSize":20,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.06.15","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"35ec162348d5460f88c959321e554969-1","templateUuid":"35ec162348d5460f88c959321e554969","name":"精英交易员","description":"证券或期货账户累计交易次数达到30次","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"60.39%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":693892894,"gmtCreate":1639995820028,"gmtModify":1639995820146,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Some good news at least&nbsp;","listText":"Some good news at least&nbsp;","text":"Some good news at least","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693892894","repostId":"1119949146","repostType":2,"repost":{"id":"1119949146","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":1639994604,"share":"https://www.laohu8.com/m/news/1119949146?lang=zh_CN&edition=full","pubTime":"2021-12-20 18:03","market":"us","language":"en","title":"Moderna shares surged nearly 6% in premarket trading<blockquote>Moderna股价在盘前交易中飙升近6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119949146","media":"Tiger Newspress","summary":"Moderna shares surged nearly 6% in premarket trading.\nA booster shot of the Moderna coronavirus vacc","content":"<p>Moderna&nbsp;shares&nbsp;surged&nbsp;nearly&nbsp;6%&nbsp;in&nbsp;premarket&nbsp;trading.</p><p><blockquote>Moderna股价在盘前交易中飙升近6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/489eb9e0c67aa09a3e00c43600becc39\" tg-width=\"719\" tg-height=\"605\" referrerpolicy=\"no-referrer\">A booster shot of the Moderna coronavirus vaccine significantly raises the level of antibodies that can thwart the Omicron variant.</p><p><blockquote>Moderna冠状病毒疫苗的加强注射显著提高了可以阻止奥密克戎变种的抗体水平。</blockquote></p><p> The first data available for Moderna’s COVID-19 vaccine suggests a third&nbsp;booster dose will be effective against omicron, the variant that is rapidly taking over the world.</p><p><blockquote>Moderna新冠肺炎疫苗的第一批可用数据表明，第三次加强剂量将有效对抗奥密克戎病毒，这种变异正在迅速席卷全球。</blockquote></p><p> Moderna said early Monday that in a lab study, blood from 20 people who received the 50-microgram Moderna booster had 37 times the number of neutralizing antibodies as compared to blood from the same number of people who only received two shots.</p><p><blockquote>Moderna周一早些时候表示，在一项实验室研究中，20名接受50微克Moderna加强剂的人的血液中中和抗体数量是仅接受两次注射的相同数量的人的37倍。</blockquote></p><p> Moderna had reduced the dose of its booster to half the dose of the original two shots to limit side effects like fever, muscle aches, and fatigue.</p><p><blockquote>Moderna已将加强剂的剂量减少到最初两次注射剂量的一半，以限制发烧、肌肉疼痛和疲劳等副作用。</blockquote></p><p> A group that received a third shot of the higher, 100-microgram dose&nbsp;saw an 83-fold jump in neutralizing antibodies against omicron.</p><p><blockquote>接受第三次更高剂量（100微克）注射的一组奥密克戎病毒中和抗体增加了83倍。</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>Moderna shares surged nearly 6% in premarket trading<blockquote>Moderna股价在盘前交易中飙升近6%</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\">\nModerna shares surged nearly 6% in premarket trading<blockquote>Moderna股价在盘前交易中飙升近6%</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\">2021-12-20 18:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Moderna&nbsp;shares&nbsp;surged&nbsp;nearly&nbsp;6%&nbsp;in&nbsp;premarket&nbsp;trading.</p><p><blockquote>Moderna股价在盘前交易中飙升近6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/489eb9e0c67aa09a3e00c43600becc39\" tg-width=\"719\" tg-height=\"605\" referrerpolicy=\"no-referrer\">A booster shot of the Moderna coronavirus vaccine significantly raises the level of antibodies that can thwart the Omicron variant.</p><p><blockquote>Moderna冠状病毒疫苗的加强注射显著提高了可以阻止奥密克戎变种的抗体水平。</blockquote></p><p> The first data available for Moderna’s COVID-19 vaccine suggests a third&nbsp;booster dose will be effective against omicron, the variant that is rapidly taking over the world.</p><p><blockquote>Moderna新冠肺炎疫苗的第一批可用数据表明，第三次加强剂量将有效对抗奥密克戎病毒，这种变异正在迅速席卷全球。</blockquote></p><p> Moderna said early Monday that in a lab study, blood from 20 people who received the 50-microgram Moderna booster had 37 times the number of neutralizing antibodies as compared to blood from the same number of people who only received two shots.</p><p><blockquote>Moderna周一早些时候表示，在一项实验室研究中，20名接受50微克Moderna加强剂的人的血液中中和抗体数量是仅接受两次注射的相同数量的人的37倍。</blockquote></p><p> Moderna had reduced the dose of its booster to half the dose of the original two shots to limit side effects like fever, muscle aches, and fatigue.</p><p><blockquote>Moderna已将加强剂的剂量减少到最初两次注射剂量的一半，以限制发烧、肌肉疼痛和疲劳等副作用。</blockquote></p><p> A group that received a third shot of the higher, 100-microgram dose&nbsp;saw an 83-fold jump in neutralizing antibodies against omicron.</p><p><blockquote>接受第三次更高剂量（100微克）注射的一组奥密克戎病毒中和抗体增加了83倍。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119949146","content_text":"Moderna shares surged nearly 6% in premarket trading.\nA booster shot of the Moderna coronavirus vaccine significantly raises the level of antibodies that can thwart the Omicron variant.\nThe first data available for Moderna’s COVID-19 vaccine suggests a third booster dose will be effective against omicron, the variant that is rapidly taking over the world.\nModerna said early Monday that in a lab study, blood from 20 people who received the 50-microgram Moderna booster had 37 times the number of neutralizing antibodies as compared to blood from the same number of people who only received two shots.\nModerna had reduced the dose of its booster to half the dose of the original two shots to limit side effects like fever, muscle aches, and fatigue.\nA group that received a third shot of the higher, 100-microgram dose saw an 83-fold jump in neutralizing antibodies against omicron.","news_type":1,"symbols_score_info":{"MRNA":0.9}},"isVote":1,"tweetType":1,"viewCount":2555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":851998063,"gmtCreate":1634862620947,"gmtModify":1634862621062,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Lol nice 1","listText":"Lol nice 1","text":"Lol nice 1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851998063","repostId":"2177640184","repostType":4,"isVote":1,"tweetType":1,"viewCount":3084,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868770776,"gmtCreate":1632708196295,"gmtModify":1632798407776,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868770776","repostId":"2170865614","repostType":4,"isVote":1,"tweetType":1,"viewCount":1817,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":161735321,"gmtCreate":1623940228363,"gmtModify":1634025557215,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161735321","repostId":"1159902153","repostType":4,"isVote":1,"tweetType":1,"viewCount":1289,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101690230,"gmtCreate":1619887817420,"gmtModify":1634209295215,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Wow!!!!!&nbsp;","listText":"Wow!!!!!&nbsp;","text":"Wow!!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/101690230","repostId":"2132603015","repostType":4,"isVote":1,"tweetType":1,"viewCount":1471,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377492946,"gmtCreate":1619543006385,"gmtModify":1634211914861,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/377492946","repostId":"1126295947","repostType":4,"repost":{"id":"1126295947","kind":"news","pubTimestamp":1619536887,"share":"https://www.laohu8.com/m/news/1126295947?lang=zh_CN&edition=full","pubTime":"2021-04-27 23:21","market":"us","language":"en","title":"Analysts like Spotify's price hikes, though user growth may pay the cost<blockquote>分析师喜欢Spotify的提价，尽管用户增长可能会付出代价</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126295947","media":"seekingalpha","summary":"News of a Spotify (SPOT-1.3%) price increasegoosed the company's shares yesterday, and while analyst","content":"<p>News of a Spotify (SPOT-1.3%) price increasegoosed the company's shares yesterday, and while analyst reaction was mostly positive,there were some notes around risks to subscription gains.</p><p><blockquote>Spotify(SPOT-1.3%)价格上涨的消息昨天提振了该公司的股价，虽然分析师的反应大多是积极的，但也有一些关于订阅收益风险的说明。</blockquote></p><p> Bullish Rosenblatt is on the positive side of the increases. They're \"just the beginning of new revenue lift initiatives over the next 24 months,\" it says. The firm has a $425 price target, implying 44% upside.</p><p><blockquote>看涨的罗森布拉特对上涨持积极态度。报告称，它们“只是未来24个月新的增收举措的开始”。该公司的目标价为425美元，意味着44%的上涨空间。</blockquote></p><p> Jefferies sees the price increases as positive as they bolster Spotify's identity as a platform rather than just a streaming service (meaning stickier customers, and more pricing power). But the price moves are interesting particularly given Apple's recent inroads into podcasting, calling for keeping an eye on churn. The firm has its price target at $360.</p><p><blockquote>杰富瑞认为价格上涨是积极的，因为它们增强了Spotify作为平台而不仅仅是流媒体服务的身份（意味着更有粘性的客户和更大的定价能力）。但价格变动很有趣，特别是考虑到苹果最近进军播客领域，呼吁密切关注客户流失。该公司的目标价为360美元。</blockquote></p><p> And KeyBanc rates it Sector Weight; while the move illustrates some pricing power, it could mean a hit to user growth: \"We suspect management is contemplating a lower than normal net subscriber add quarter.\"</p><p><blockquote>KeyBanc对it行业权重进行评级；虽然此举说明了一些定价能力，但这可能意味着对用户增长的打击：“我们怀疑管理层正在考虑低于正常水平的净用户增长季度。”</blockquote></p><p> The company is set to report earnings before the open tomorrow;consensus estimates are for EPS of -$0.51 on revenues of $2.6B.</p><p><blockquote>该公司定于明天开盘前公布收益；普遍预测每股收益为-0.51美元，收入为$2.6 B。</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>Analysts like Spotify's price hikes, though user growth may pay the cost<blockquote>分析师喜欢Spotify的提价，尽管用户增长可能会付出代价</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\">\nAnalysts like Spotify's price hikes, though user growth may pay the cost<blockquote>分析师喜欢Spotify的提价，尽管用户增长可能会付出代价</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-04-27 23:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>News of a Spotify (SPOT-1.3%) price increasegoosed the company's shares yesterday, and while analyst reaction was mostly positive,there were some notes around risks to subscription gains.</p><p><blockquote>Spotify(SPOT-1.3%)价格上涨的消息昨天提振了该公司的股价，虽然分析师的反应大多是积极的，但也有一些关于订阅收益风险的说明。</blockquote></p><p> Bullish Rosenblatt is on the positive side of the increases. They're \"just the beginning of new revenue lift initiatives over the next 24 months,\" it says. The firm has a $425 price target, implying 44% upside.</p><p><blockquote>看涨的罗森布拉特对上涨持积极态度。报告称，它们“只是未来24个月新的增收举措的开始”。该公司的目标价为425美元，意味着44%的上涨空间。</blockquote></p><p> Jefferies sees the price increases as positive as they bolster Spotify's identity as a platform rather than just a streaming service (meaning stickier customers, and more pricing power). But the price moves are interesting particularly given Apple's recent inroads into podcasting, calling for keeping an eye on churn. The firm has its price target at $360.</p><p><blockquote>杰富瑞认为价格上涨是积极的，因为它们增强了Spotify作为平台而不仅仅是流媒体服务的身份（意味着更有粘性的客户和更大的定价能力）。但价格变动很有趣，特别是考虑到苹果最近进军播客领域，呼吁密切关注客户流失。该公司的目标价为360美元。</blockquote></p><p> And KeyBanc rates it Sector Weight; while the move illustrates some pricing power, it could mean a hit to user growth: \"We suspect management is contemplating a lower than normal net subscriber add quarter.\"</p><p><blockquote>KeyBanc对it行业权重进行评级；虽然此举说明了一些定价能力，但这可能意味着对用户增长的打击：“我们怀疑管理层正在考虑低于正常水平的净用户增长季度。”</blockquote></p><p> The company is set to report earnings before the open tomorrow;consensus estimates are for EPS of -$0.51 on revenues of $2.6B.</p><p><blockquote>该公司定于明天开盘前公布收益；普遍预测每股收益为-0.51美元，收入为$2.6 B。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3686176-analysts-like-spotifys-price-hikes-though-user-growth-may-pay-the-cost\">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":{"SPOT":"Spotify Technology S.A."},"source_url":"https://seekingalpha.com/news/3686176-analysts-like-spotifys-price-hikes-though-user-growth-may-pay-the-cost","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126295947","content_text":"News of a Spotify (SPOT-1.3%) price increasegoosed the company's shares yesterday, and while analyst reaction was mostly positive,there were some notes around risks to subscription gains.\nBullish Rosenblatt is on the positive side of the increases. They're \"just the beginning of new revenue lift initiatives over the next 24 months,\" it says. The firm has a $425 price target, implying 44% upside.\nJefferies sees the price increases as positive as they bolster Spotify's identity as a platform rather than just a streaming service (meaning stickier customers, and more pricing power). But the price moves are interesting particularly given Apple's recent inroads into podcasting, calling for keeping an eye on churn. The firm has its price target at $360.\nAnd KeyBanc rates it Sector Weight; while the move illustrates some pricing power, it could mean a hit to user growth: \"We suspect management is contemplating a lower than normal net subscriber add quarter.\"\nThe company is set to report earnings before the open tomorrow;consensus estimates are for EPS of -$0.51 on revenues of $2.6B.","news_type":1,"symbols_score_info":{"SPOT":0.9}},"isVote":1,"tweetType":1,"viewCount":2442,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377496671,"gmtCreate":1619542924393,"gmtModify":1634211915229,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Nicely done","listText":"Nicely done","text":"Nicely done","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/377496671","repostId":"1179445286","repostType":4,"repost":{"id":"1179445286","kind":"news","pubTimestamp":1619537418,"share":"https://www.laohu8.com/m/news/1179445286?lang=zh_CN&edition=full","pubTime":"2021-04-27 23:30","market":"us","language":"en","title":"UPS lifts freight and logistics sector with strong earnings report<blockquote>UPS凭借强劲的盈利报告提振货运和物流行业</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1179445286","media":"seekingalpha","summary":"A number of freight, logistics and trucking stocks are tracking higher after a strong earnings repor","content":"<p>A number of freight, logistics and trucking stocks are tracking higher after a strong earnings report from UPS(UPS+10.2%).</p><p><blockquote>在UPS发布强劲的收益报告（UPS+10.2%）后，许多货运、物流和卡车运输股票走高。</blockquote></p><p> Notable gainers in morning trading include XPO Logistics(XPO+3.2%), Air T(AIRT+1.7%), Covenant Logistics Group(CVLG+10.5%), Yellow Corporation(YELL+6.0%), J.B. Hunt Transports(JBHT+1.1%), USA Truck(USAK+4.0%), U.S. Xpress Enterprises(USX+4.0%), ArcBest(ARCB+2.1%)and Steel Connect(STCN+2.0%).</p><p><blockquote>早盘涨幅较大的股票包括XPO Logistics(XPO+3.2%)、Air T(AIRT+1.7%)、Covenant Logistics Group(CVLG+10.5%)、Yellow Corporation(YELL+6.0%)、J.B.Hunt Transports(JBHT+1.1%)、USA Truck(USAK+4.0%)、U.S.Xpress Enterprises(USX+4.0%)、ArcBest(ARCB+2.1%)和Steel Connect(STCN+2.0%)。</blockquote></p><p> UPS isn't far from trading over $200 for the first time in its history after the earnings blowout.</p><p><blockquote>在盈利井喷之后，UPS的股价距离其历史上首次突破200美元已经不远了。</blockquote></p><p> \"The company crushed our more conservative estimates, as operating leverage in the domestic segment – the key controversy on the stock – was very strong,\" updates Bernstein analyst David Vernon on the UPS earnings report.</p><p><blockquote>伯恩斯坦分析师戴维·弗农(David Vernon)在UPS收益报告中更新道：“该公司超出了我们更保守的估计，因为国内市场的运营杠杆（该股的主要争议）非常强劲。”</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>UPS lifts freight and logistics sector with strong earnings report<blockquote>UPS凭借强劲的盈利报告提振货运和物流行业</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\">\nUPS lifts freight and logistics sector with strong earnings report<blockquote>UPS凭借强劲的盈利报告提振货运和物流行业</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-04-27 23:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A number of freight, logistics and trucking stocks are tracking higher after a strong earnings report from UPS(UPS+10.2%).</p><p><blockquote>在UPS发布强劲的收益报告（UPS+10.2%）后，许多货运、物流和卡车运输股票走高。</blockquote></p><p> Notable gainers in morning trading include XPO Logistics(XPO+3.2%), Air T(AIRT+1.7%), Covenant Logistics Group(CVLG+10.5%), Yellow Corporation(YELL+6.0%), J.B. Hunt Transports(JBHT+1.1%), USA Truck(USAK+4.0%), U.S. Xpress Enterprises(USX+4.0%), ArcBest(ARCB+2.1%)and Steel Connect(STCN+2.0%).</p><p><blockquote>早盘涨幅较大的股票包括XPO Logistics(XPO+3.2%)、Air T(AIRT+1.7%)、Covenant Logistics Group(CVLG+10.5%)、Yellow Corporation(YELL+6.0%)、J.B.Hunt Transports(JBHT+1.1%)、USA Truck(USAK+4.0%)、U.S.Xpress Enterprises(USX+4.0%)、ArcBest(ARCB+2.1%)和Steel Connect(STCN+2.0%)。</blockquote></p><p> UPS isn't far from trading over $200 for the first time in its history after the earnings blowout.</p><p><blockquote>在盈利井喷之后，UPS的股价距离其历史上首次突破200美元已经不远了。</blockquote></p><p> \"The company crushed our more conservative estimates, as operating leverage in the domestic segment – the key controversy on the stock – was very strong,\" updates Bernstein analyst David Vernon on the UPS earnings report.</p><p><blockquote>伯恩斯坦分析师戴维·弗农(David Vernon)在UPS收益报告中更新道：“该公司超出了我们更保守的估计，因为国内市场的运营杠杆（该股的主要争议）非常强劲。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3686179-ups-lifts-freight-and-logistics-sector-with-strong-earnings-report\">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":{"UPS":"联合包裹"},"source_url":"https://seekingalpha.com/news/3686179-ups-lifts-freight-and-logistics-sector-with-strong-earnings-report","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179445286","content_text":"A number of freight, logistics and trucking stocks are tracking higher after a strong earnings report from UPS(UPS+10.2%).\nNotable gainers in morning trading include XPO Logistics(XPO+3.2%), Air T(AIRT+1.7%), Covenant Logistics Group(CVLG+10.5%), Yellow Corporation(YELL+6.0%), J.B. Hunt Transports(JBHT+1.1%), USA Truck(USAK+4.0%), U.S. Xpress Enterprises(USX+4.0%), ArcBest(ARCB+2.1%)and Steel Connect(STCN+2.0%).\nUPS isn't far from trading over $200 for the first time in its history after the earnings blowout.\n\"The company crushed our more conservative estimates, as operating leverage in the domestic segment – the key controversy on the stock – was very strong,\" updates Bernstein analyst David Vernon on the UPS earnings report.","news_type":1,"symbols_score_info":{"UPS":0.9}},"isVote":1,"tweetType":1,"viewCount":1502,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342575864,"gmtCreate":1618235243558,"gmtModify":1634294266768,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Merge merge merge","listText":"Merge merge merge","text":"Merge merge merge","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/342575864","repostId":"1132530538","repostType":4,"repost":{"id":"1132530538","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":1618235022,"share":"https://www.laohu8.com/m/news/1132530538?lang=zh_CN&edition=full","pubTime":"2021-04-12 21:43","market":"us","language":"en","title":"Aphria shares drop 13% as results trail consensus; top line hit by lockdowns across Canada<blockquote>由于业绩落后于共识，Aphria股价下跌13%；加拿大各地封锁影响营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132530538","media":"Tiger Newspress","summary":"(April 12) Aphria shares plummet 9% premarket after fiscal Q3 2021 results misses consensus. (All fi","content":"<p>(April 12)&nbsp;Aphria&nbsp;shares plummet 9% premarket&nbsp;after&nbsp;fiscal Q3 2021 results&nbsp;misses consensus. (All figures are in C$).</p><p><blockquote>（4月12日）2021财年第三季度业绩未达共识后，Aphria股价盘前暴跌9%。（所有数字均以加元为单位）。</blockquote></p><p> <ul>  <li>Net revenue of $153.6M, +6.4% and a decrease of 4.3% Q/Q, missed analyst expectations of $163.3M.</li>  <li>Net cannabis revenue of $51.7M, 7.8% lower from FQ3 2020, and down 23.8% from prior quarter.</li>  <li>Gross revenue for adult-use cannabis of $59.6M, +33.4% Y/Y, and a decline of 17.3% Q/Q.</li>  <li>FQ3 revenues were impacted by lockdowns in the major Canadian provinces and in Germany.</li>  <li>Adjusted cannabis gross margin of 39.2% vs. 45.9% in prior quarter.</li>  <li>For FQ3 2021, APHA missed its non-GAAP/GAAP EPS forecast. The company reported non-GAAP loss/share of $0.15/share and GAAP loss/share of $1.14.</li>  <li>Kilograms sold: 18,695, a decrease of 30.1% compared to sales of 26,730 in Q2 2021.</li>  <li>Cash cost to produce dried cannabis per gram of $0.90, +13.9% Q/Q.</li>  <li>Adjusted EBITDA rose slightly in FQ3 to $12.7M compared prior quarter; Adjusted EBITDA from cannabis business fell to $7.9M compared to $12.9M in FQ2 2021.</li>  <li>Cash provided by operating activities of $1.2M vs. $3.4M in FQ2 2021.</li> </ul> Conference call is set for 9 ET.</p><p><blockquote><ul><li>净收入为1.536亿美元，同比增长6.4%，环比下降4.3%，低于分析师预期的1.633亿美元。</li><li>大麻净收入为5170万美元，比2020年第三季度下降7.8%，比上一季度下降23.8%。</li><li>成人用大麻的总收入为5960万美元，同比增长33.4%，环比下降17.3%。</li><li>第三季度收入受到加拿大主要省份和德国封锁的影响。</li><li>调整后大麻毛利率为39.2%，上一季度为45.9%。</li><li>对于2021年第三季度，APHA未达到其非GAAP/GAAP每股收益预测。该公司报告非GAAP每股亏损为0.15美元，GAAP每股亏损为1.14美元。</li><li>销量：18,695公斤，比2021年第二季度的26,730公斤下降30.1%。</li><li>生产每克干大麻的现金成本为0.90美元，环比增长13.9%。</li><li>第三季度调整后EBITDA较上一季度小幅上升至1,270万美元；大麻业务调整后EBITDA降至790万美元，而2021年第二季度为1290万美元。</li><li>经营活动提供的现金为120万美元，而2021年第二季度为340万美元。</li></ul>电话会议定于东部时间9点。</blockquote></p><p> Also, during FQ3, the company reached agreementto combine with Tilray.</p><p><blockquote>此外，在第三季度，该公司达成了与Tilray合并的协议。</blockquote></p><p> Aphria is also in this week's Seeking Alpha Catalyst Watch as the company hosts a special meeting onApril 16 to vote on the proposed merger with Tilray.</p><p><blockquote>Aphria也出现在本周的Seeking Alpha Catalyst观察中，该公司将于4月16日召开特别会议，就与Tilray的合并提议进行投票。</blockquote></p><p> Other pot stocks down this morning include: Tilray&nbsp;-10.93%, Aurora Cannabis&nbsp;-6.08%.</p><p><blockquote>今天上午下跌的其他大麻股包括：Tilray-10.93%、Aurora Cannabis-6.08%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2ab29a6387a83442f1218efc066acfb7\" tg-width=\"288\" tg-height=\"116\"></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>Aphria shares drop 13% as results trail consensus; top line hit by lockdowns across Canada<blockquote>由于业绩落后于共识，Aphria股价下跌13%；加拿大各地封锁影响营收</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\">\nAphria shares drop 13% as results trail consensus; top line hit by lockdowns across Canada<blockquote>由于业绩落后于共识，Aphria股价下跌13%；加拿大各地封锁影响营收</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\">2021-04-12 21:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(April 12)&nbsp;Aphria&nbsp;shares plummet 9% premarket&nbsp;after&nbsp;fiscal Q3 2021 results&nbsp;misses consensus. (All figures are in C$).</p><p><blockquote>（4月12日）2021财年第三季度业绩未达共识后，Aphria股价盘前暴跌9%。（所有数字均以加元为单位）。</blockquote></p><p> <ul>  <li>Net revenue of $153.6M, +6.4% and a decrease of 4.3% Q/Q, missed analyst expectations of $163.3M.</li>  <li>Net cannabis revenue of $51.7M, 7.8% lower from FQ3 2020, and down 23.8% from prior quarter.</li>  <li>Gross revenue for adult-use cannabis of $59.6M, +33.4% Y/Y, and a decline of 17.3% Q/Q.</li>  <li>FQ3 revenues were impacted by lockdowns in the major Canadian provinces and in Germany.</li>  <li>Adjusted cannabis gross margin of 39.2% vs. 45.9% in prior quarter.</li>  <li>For FQ3 2021, APHA missed its non-GAAP/GAAP EPS forecast. The company reported non-GAAP loss/share of $0.15/share and GAAP loss/share of $1.14.</li>  <li>Kilograms sold: 18,695, a decrease of 30.1% compared to sales of 26,730 in Q2 2021.</li>  <li>Cash cost to produce dried cannabis per gram of $0.90, +13.9% Q/Q.</li>  <li>Adjusted EBITDA rose slightly in FQ3 to $12.7M compared prior quarter; Adjusted EBITDA from cannabis business fell to $7.9M compared to $12.9M in FQ2 2021.</li>  <li>Cash provided by operating activities of $1.2M vs. $3.4M in FQ2 2021.</li> </ul> Conference call is set for 9 ET.</p><p><blockquote><ul><li>净收入为1.536亿美元，同比增长6.4%，环比下降4.3%，低于分析师预期的1.633亿美元。</li><li>大麻净收入为5170万美元，比2020年第三季度下降7.8%，比上一季度下降23.8%。</li><li>成人用大麻的总收入为5960万美元，同比增长33.4%，环比下降17.3%。</li><li>第三季度收入受到加拿大主要省份和德国封锁的影响。</li><li>调整后大麻毛利率为39.2%，上一季度为45.9%。</li><li>对于2021年第三季度，APHA未达到其非GAAP/GAAP每股收益预测。该公司报告非GAAP每股亏损为0.15美元，GAAP每股亏损为1.14美元。</li><li>销量：18,695公斤，比2021年第二季度的26,730公斤下降30.1%。</li><li>生产每克干大麻的现金成本为0.90美元，环比增长13.9%。</li><li>第三季度调整后EBITDA较上一季度小幅上升至1,270万美元；大麻业务调整后EBITDA降至790万美元，而2021年第二季度为1290万美元。</li><li>经营活动提供的现金为120万美元，而2021年第二季度为340万美元。</li></ul>电话会议定于东部时间9点。</blockquote></p><p> Also, during FQ3, the company reached agreementto combine with Tilray.</p><p><blockquote>此外，在第三季度，该公司达成了与Tilray合并的协议。</blockquote></p><p> Aphria is also in this week's Seeking Alpha Catalyst Watch as the company hosts a special meeting onApril 16 to vote on the proposed merger with Tilray.</p><p><blockquote>Aphria也出现在本周的Seeking Alpha Catalyst观察中，该公司将于4月16日召开特别会议，就与Tilray的合并提议进行投票。</blockquote></p><p> Other pot stocks down this morning include: Tilray&nbsp;-10.93%, Aurora Cannabis&nbsp;-6.08%.</p><p><blockquote>今天上午下跌的其他大麻股包括：Tilray-10.93%、Aurora Cannabis-6.08%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2ab29a6387a83442f1218efc066acfb7\" tg-width=\"288\" tg-height=\"116\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"APHA":"Aphria Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132530538","content_text":"(April 12) Aphria shares plummet 9% premarket after fiscal Q3 2021 results misses consensus. (All figures are in C$).\n\nNet revenue of $153.6M, +6.4% and a decrease of 4.3% Q/Q, missed analyst expectations of $163.3M.\nNet cannabis revenue of $51.7M, 7.8% lower from FQ3 2020, and down 23.8% from prior quarter.\nGross revenue for adult-use cannabis of $59.6M, +33.4% Y/Y, and a decline of 17.3% Q/Q.\nFQ3 revenues were impacted by lockdowns in the major Canadian provinces and in Germany.\nAdjusted cannabis gross margin of 39.2% vs. 45.9% in prior quarter.\nFor FQ3 2021, APHA missed its non-GAAP/GAAP EPS forecast. The company reported non-GAAP loss/share of $0.15/share and GAAP loss/share of $1.14.\nKilograms sold: 18,695, a decrease of 30.1% compared to sales of 26,730 in Q2 2021.\nCash cost to produce dried cannabis per gram of $0.90, +13.9% Q/Q.\nAdjusted EBITDA rose slightly in FQ3 to $12.7M compared prior quarter; Adjusted EBITDA from cannabis business fell to $7.9M compared to $12.9M in FQ2 2021.\nCash provided by operating activities of $1.2M vs. $3.4M in FQ2 2021.\n\nConference call is set for 9 ET.\nAlso, during FQ3, the company reached agreementto combine with Tilray.\nAphria is also in this week's Seeking Alpha Catalyst Watch as the company hosts a special meeting onApril 16 to vote on the proposed merger with Tilray.\nOther pot stocks down this morning include: Tilray -10.93%, Aurora Cannabis -6.08%.","news_type":1,"symbols_score_info":{"APHA":0.9}},"isVote":1,"tweetType":1,"viewCount":1329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348775888,"gmtCreate":1617969710544,"gmtModify":1634295466396,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Omg rip","listText":"Omg rip","text":"Omg rip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348775888","repostId":"1144618735","repostType":4,"isVote":1,"tweetType":1,"viewCount":1375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349582982,"gmtCreate":1617625967546,"gmtModify":1634297491413,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Gd gd","listText":"Gd gd","text":"Gd gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/349582982","repostId":"1143289418","repostType":4,"repost":{"id":"1143289418","kind":"news","pubTimestamp":1617608016,"share":"https://www.laohu8.com/m/news/1143289418?lang=zh_CN&edition=full","pubTime":"2021-04-05 15:33","market":"us","language":"en","title":"T-Mobile, AMD, Levi Strauss, Constellation Brands, and Other Stocks to Watch This Week<blockquote>T-Mobile、AMD、李维斯、Constellation Brands和其他本周值得关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143289418","media":"Barrons","summary":"It’s a quiet week on the earnings calendar. The handful of notable companies reporting include Paych","content":"<p>It’s a quiet week on the earnings calendar. The handful of notable companies reporting include Paychex on Tuesday, Lamb Weston Holdings on Wednesday, and Conagra Brands, Constellation Brands, and Levi Strauss all on Thursday.</p><p><blockquote>这是财报日历上平静的一周。少数著名的公司包括周二的Paychex、周三的Lamb Weston Holdings以及周四的Conagra Brands、Constellation Brands和李维斯。</blockquote></p><p> Applied Materials management will speak with Wall Street on Tuesday, while Lumen&nbsp;Technologies and T-Mobile US both host investor events on Wednesday. Also on Wednesday, Advanced Micro Devices and Xilinx shareholders will vote on the chip designers’ proposed&nbsp;merger.</p><p><blockquote>应用材料管理公司将于周二与华尔街进行对话，而Lumen Technologies和T-Mobile US均将于周三举办投资者活动。同样在周三，Advanced Micro Devices和Xilinx的股东将就芯片设计公司的合并提议进行投票。</blockquote></p><p> Central bank and monetary policy watchers will have plenty to tune into: The International Monetary Fund and World Bank hold their virtual 2021 spring meetings this week.&nbsp;Federal Reserve Chairman Jerome Powell and IMF Managing Director Kristalina Georgieva will discuss the global economy at an event on Thursday.</p><p><blockquote>央行和货币政策观察人士将有很多值得关注的内容：国际货币基金组织和世界银行本周将举行虚拟的2021年春季会议。美联储主席杰罗姆·鲍威尔和国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃将在周四的一次活动中讨论全球经济。</blockquote></p><p> The minutes from the Fed’s monetary policy committee’s March meeting will also be released this Wednesday. Economic data out this week include the Institute for Supply Management’s Services Purchasing Managers’ Index for March on Monday and the Bureau of Labor Statistics’&nbsp;producer price index for March on Friday.</p><p><blockquote>美联储货币政策委员会3月会议纪要也将于本周三公布。本周公布的经济数据包括周一供应管理协会3月份服务业采购经理人指数和周五劳工统计局3月份生产者价格指数。</blockquote></p><p> <b>Monday 4/5</b></p><p><blockquote><b>星期一4/5</b></blockquote></p><p> <b>Many stock exchanges</b>&nbsp;across the globe, including those in Germany and the United Kingdom, are closed in observance of Easter.</p><p><blockquote><b>多家证券交易所</b>包括德国和英国在内的全球各地都因复活节而关闭。</blockquote></p><p> <b>The International Monetary</b>&nbsp;Fund and World Bank Group hold their 2021 spring meetings, virtually. The event will run through Sunday, April 11.</p><p><blockquote><b>国际货币</b>基金组织和世界银行集团以虚拟方式举行2021年春季会议。该活动将持续到4月11日周日。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Services Purchasing Managers’ Index for March. Economists forecast a 58.5 reading, higher than February’s 55.3.</p><p><blockquote><b>供应研究所</b>管理层发布三月份服务业采购经理人指数。经济学家预测为58.5，高于2月份的55.3。</blockquote></p><p> <b>Tuesday 4/6</b></p><p><blockquote><b>星期二4/6</b></blockquote></p><p> Paychex reports quarterly results.</p><p><blockquote>Paychex报告季度业绩。</blockquote></p><p> Applied Materials hosts a virtual investor meeting. Company leadership, including CEO Gary Dickerson, will discuss its technology road map and financial targets, among other topics.</p><p><blockquote>应用材料公司举办虚拟投资者会议。包括首席执行官加里·迪克森在内的公司领导层将讨论其技术路线图和财务目标等话题。</blockquote></p><p> <b>The Bureau of Labor</b>&nbsp;Statistics releases the Job Openings and Labor Turnover Survey for February. Consensus estimate is for 6.9 million job openings on the last business day of February, close to the January data.</p><p><blockquote><b>劳工局</b>统计局发布二月份职位空缺和劳动力流动调查。市场普遍估计2月份最后一个工作日有690万个职位空缺，接近1月份的数据。</blockquote></p><p> <b>Wednesday 4/7</b></p><p><blockquote><b>星期三4/7</b></blockquote></p><p> Lamb Weston Holdings releases earnings.</p><p><blockquote>兰姆韦斯顿控股公司发布财报。</blockquote></p><p> <b>The Federal Open Market</b>&nbsp;Committee releases the minutes from its mid-March monetary-policy meeting.</p><p><blockquote><b>联邦公开市场</b>委员会发布三月中旬货币政策会议纪要。</blockquote></p><p> Costco Wholesale&nbsp;reports sales data for March.</p><p><blockquote>Costco Wholesale报告3月份销售数据。</blockquote></p><p> Lumen Technologies, formerly known as CenturyLink, holds an analyst day. Lumen’s President and CEO Jeff Storey, among others, will discuss strategies to grow the company.</p><p><blockquote>Lumen Technologies（前身为CenturyLink）举办分析师日活动。Lumen总裁兼首席执行官Jeff Storey等人将讨论公司发展战略。</blockquote></p><p> Advanced Micro Devices and Xilinx hold special shareholder meetings to seek approval for their proposed merger, first announced in October.AMDhas agreed to buy Xilinx in an all-stock transaction valued at about $35 billion.</p><p><blockquote>Advanced Micro Devices和Xilinx召开特别股东大会，寻求批准其于10月份首次宣布的合并提议。AMD已同意以价值约350亿美元的全股票交易收购Xilinx。</blockquote></p><p> <b>The Federal Reserve</b>&nbsp;reports consumer credit data for February. Total outstanding consumer credit stands at $4.18 trillion, slightly lower than the all-time peak of $4.21 trillion set in February of last year. In 2020, consumer credit remained essentially unchanged, the first year that it didn’t expand since 2008.</p><p><blockquote><b>美联储</b>报告2月份消费者信贷数据。未偿还消费信贷总额为4.18万亿美元，略低于去年2月创下的4.21万亿美元的历史峰值。2020年，消费信贷基本保持不变，这是自2008年以来首次没有扩张。</blockquote></p><p> <b>Thursday 4/8</b></p><p><blockquote><b>星期四4/8</b></blockquote></p><p> Federal Reserve Chairman Jerome Powell and International Monetary Fund Managing Director Kristalina Georgieva discuss the global economy at the 2021 spring meetings of the IMF and World Bank Group.</p><p><blockquote>美联储主席杰罗姆·鲍威尔和国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃在国际货币基金组织和世界银行集团2021年春季会议上讨论全球经济。</blockquote></p><p> Conagra Brands, Constellation Brands, and Levi Strauss report quarterly results.</p><p><blockquote>康尼格拉品牌、星座品牌和李维斯报告季度业绩。</blockquote></p><p> <b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on April 3. The four-week moving average of jobless claims this past week was 719,000, the lowest since March of last year.</p><p><blockquote><b>劳工部</b>报告截至4月3日当周首次申请失业救济人数。过去一周申请失业救济人数的四周移动平均值为71.9万人，为去年3月以来最低。</blockquote></p><p> <b>Friday 4/9</b></p><p><blockquote><b>星期五4/9</b></blockquote></p><p> <b>The BLS reports</b>&nbsp;the producer price index for March. Expectations are for a 0.5% month-over-month rise, matching the February increase.</p><p><blockquote><b>劳工统计局报告</b>3月份生产者价格指数。预计环比增长0.5%，与2月份的增幅相当。</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>T-Mobile, AMD, Levi Strauss, Constellation Brands, and Other Stocks to Watch This Week<blockquote>T-Mobile、AMD、李维斯、Constellation Brands和其他本周值得关注的股票</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\">\nT-Mobile, AMD, Levi Strauss, Constellation Brands, and Other Stocks to Watch This Week<blockquote>T-Mobile、AMD、李维斯、Constellation Brands和其他本周值得关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-05 15:33</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It’s a quiet week on the earnings calendar. The handful of notable companies reporting include Paychex on Tuesday, Lamb Weston Holdings on Wednesday, and Conagra Brands, Constellation Brands, and Levi Strauss all on Thursday.</p><p><blockquote>这是财报日历上平静的一周。少数著名的公司包括周二的Paychex、周三的Lamb Weston Holdings以及周四的Conagra Brands、Constellation Brands和李维斯。</blockquote></p><p> Applied Materials management will speak with Wall Street on Tuesday, while Lumen&nbsp;Technologies and T-Mobile US both host investor events on Wednesday. Also on Wednesday, Advanced Micro Devices and Xilinx shareholders will vote on the chip designers’ proposed&nbsp;merger.</p><p><blockquote>应用材料管理公司将于周二与华尔街进行对话，而Lumen Technologies和T-Mobile US均将于周三举办投资者活动。同样在周三，Advanced Micro Devices和Xilinx的股东将就芯片设计公司的合并提议进行投票。</blockquote></p><p> Central bank and monetary policy watchers will have plenty to tune into: The International Monetary Fund and World Bank hold their virtual 2021 spring meetings this week.&nbsp;Federal Reserve Chairman Jerome Powell and IMF Managing Director Kristalina Georgieva will discuss the global economy at an event on Thursday.</p><p><blockquote>央行和货币政策观察人士将有很多值得关注的内容：国际货币基金组织和世界银行本周将举行虚拟的2021年春季会议。美联储主席杰罗姆·鲍威尔和国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃将在周四的一次活动中讨论全球经济。</blockquote></p><p> The minutes from the Fed’s monetary policy committee’s March meeting will also be released this Wednesday. Economic data out this week include the Institute for Supply Management’s Services Purchasing Managers’ Index for March on Monday and the Bureau of Labor Statistics’&nbsp;producer price index for March on Friday.</p><p><blockquote>美联储货币政策委员会3月会议纪要也将于本周三公布。本周公布的经济数据包括周一供应管理协会3月份服务业采购经理人指数和周五劳工统计局3月份生产者价格指数。</blockquote></p><p> <b>Monday 4/5</b></p><p><blockquote><b>星期一4/5</b></blockquote></p><p> <b>Many stock exchanges</b>&nbsp;across the globe, including those in Germany and the United Kingdom, are closed in observance of Easter.</p><p><blockquote><b>多家证券交易所</b>包括德国和英国在内的全球各地都因复活节而关闭。</blockquote></p><p> <b>The International Monetary</b>&nbsp;Fund and World Bank Group hold their 2021 spring meetings, virtually. The event will run through Sunday, April 11.</p><p><blockquote><b>国际货币</b>基金组织和世界银行集团以虚拟方式举行2021年春季会议。该活动将持续到4月11日周日。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Services Purchasing Managers’ Index for March. Economists forecast a 58.5 reading, higher than February’s 55.3.</p><p><blockquote><b>供应研究所</b>管理层发布三月份服务业采购经理人指数。经济学家预测为58.5，高于2月份的55.3。</blockquote></p><p> <b>Tuesday 4/6</b></p><p><blockquote><b>星期二4/6</b></blockquote></p><p> Paychex reports quarterly results.</p><p><blockquote>Paychex报告季度业绩。</blockquote></p><p> Applied Materials hosts a virtual investor meeting. Company leadership, including CEO Gary Dickerson, will discuss its technology road map and financial targets, among other topics.</p><p><blockquote>应用材料公司举办虚拟投资者会议。包括首席执行官加里·迪克森在内的公司领导层将讨论其技术路线图和财务目标等话题。</blockquote></p><p> <b>The Bureau of Labor</b>&nbsp;Statistics releases the Job Openings and Labor Turnover Survey for February. Consensus estimate is for 6.9 million job openings on the last business day of February, close to the January data.</p><p><blockquote><b>劳工局</b>统计局发布二月份职位空缺和劳动力流动调查。市场普遍估计2月份最后一个工作日有690万个职位空缺，接近1月份的数据。</blockquote></p><p> <b>Wednesday 4/7</b></p><p><blockquote><b>星期三4/7</b></blockquote></p><p> Lamb Weston Holdings releases earnings.</p><p><blockquote>兰姆韦斯顿控股公司发布财报。</blockquote></p><p> <b>The Federal Open Market</b>&nbsp;Committee releases the minutes from its mid-March monetary-policy meeting.</p><p><blockquote><b>联邦公开市场</b>委员会发布三月中旬货币政策会议纪要。</blockquote></p><p> Costco Wholesale&nbsp;reports sales data for March.</p><p><blockquote>Costco Wholesale报告3月份销售数据。</blockquote></p><p> Lumen Technologies, formerly known as CenturyLink, holds an analyst day. Lumen’s President and CEO Jeff Storey, among others, will discuss strategies to grow the company.</p><p><blockquote>Lumen Technologies（前身为CenturyLink）举办分析师日活动。Lumen总裁兼首席执行官Jeff Storey等人将讨论公司发展战略。</blockquote></p><p> Advanced Micro Devices and Xilinx hold special shareholder meetings to seek approval for their proposed merger, first announced in October.AMDhas agreed to buy Xilinx in an all-stock transaction valued at about $35 billion.</p><p><blockquote>Advanced Micro Devices和Xilinx召开特别股东大会，寻求批准其于10月份首次宣布的合并提议。AMD已同意以价值约350亿美元的全股票交易收购Xilinx。</blockquote></p><p> <b>The Federal Reserve</b>&nbsp;reports consumer credit data for February. Total outstanding consumer credit stands at $4.18 trillion, slightly lower than the all-time peak of $4.21 trillion set in February of last year. In 2020, consumer credit remained essentially unchanged, the first year that it didn’t expand since 2008.</p><p><blockquote><b>美联储</b>报告2月份消费者信贷数据。未偿还消费信贷总额为4.18万亿美元，略低于去年2月创下的4.21万亿美元的历史峰值。2020年，消费信贷基本保持不变，这是自2008年以来首次没有扩张。</blockquote></p><p> <b>Thursday 4/8</b></p><p><blockquote><b>星期四4/8</b></blockquote></p><p> Federal Reserve Chairman Jerome Powell and International Monetary Fund Managing Director Kristalina Georgieva discuss the global economy at the 2021 spring meetings of the IMF and World Bank Group.</p><p><blockquote>美联储主席杰罗姆·鲍威尔和国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃在国际货币基金组织和世界银行集团2021年春季会议上讨论全球经济。</blockquote></p><p> Conagra Brands, Constellation Brands, and Levi Strauss report quarterly results.</p><p><blockquote>康尼格拉品牌、星座品牌和李维斯报告季度业绩。</blockquote></p><p> <b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on April 3. The four-week moving average of jobless claims this past week was 719,000, the lowest since March of last year.</p><p><blockquote><b>劳工部</b>报告截至4月3日当周首次申请失业救济人数。过去一周申请失业救济人数的四周移动平均值为71.9万人，为去年3月以来最低。</blockquote></p><p> <b>Friday 4/9</b></p><p><blockquote><b>星期五4/9</b></blockquote></p><p> <b>The BLS reports</b>&nbsp;the producer price index for March. Expectations are for a 0.5% month-over-month rise, matching the February increase.</p><p><blockquote><b>劳工统计局报告</b>3月份生产者价格指数。预计环比增长0.5%，与2月份的增幅相当。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/t-mobile-amd-levi-strauss-constellation-brands-and-other-stocks-for-investors-to-watch-this-week-51617562824?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",".DJI":"道琼斯","TMUSR":"T-Mobile US Inc","AMD":"美国超微公司","STZ":"星座品牌","TMUS":"T-Mobile US Inc",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/t-mobile-amd-levi-strauss-constellation-brands-and-other-stocks-for-investors-to-watch-this-week-51617562824?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143289418","content_text":"It’s a quiet week on the earnings calendar. The handful of notable companies reporting include Paychex on Tuesday, Lamb Weston Holdings on Wednesday, and Conagra Brands, Constellation Brands, and Levi Strauss all on Thursday.\nApplied Materials management will speak with Wall Street on Tuesday, while Lumen Technologies and T-Mobile US both host investor events on Wednesday. Also on Wednesday, Advanced Micro Devices and Xilinx shareholders will vote on the chip designers’ proposed merger.\nCentral bank and monetary policy watchers will have plenty to tune into: The International Monetary Fund and World Bank hold their virtual 2021 spring meetings this week. Federal Reserve Chairman Jerome Powell and IMF Managing Director Kristalina Georgieva will discuss the global economy at an event on Thursday.\nThe minutes from the Fed’s monetary policy committee’s March meeting will also be released this Wednesday. Economic data out this week include the Institute for Supply Management’s Services Purchasing Managers’ Index for March on Monday and the Bureau of Labor Statistics’ producer price index for March on Friday.\nMonday 4/5\nMany stock exchanges across the globe, including those in Germany and the United Kingdom, are closed in observance of Easter.\nThe International Monetary Fund and World Bank Group hold their 2021 spring meetings, virtually. The event will run through Sunday, April 11.\nThe Institute for Supply Management releases its Services Purchasing Managers’ Index for March. Economists forecast a 58.5 reading, higher than February’s 55.3.\nTuesday 4/6\nPaychex reports quarterly results.\nApplied Materials hosts a virtual investor meeting. Company leadership, including CEO Gary Dickerson, will discuss its technology road map and financial targets, among other topics.\nThe Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey for February. Consensus estimate is for 6.9 million job openings on the last business day of February, close to the January data.\nWednesday 4/7\nLamb Weston Holdings releases earnings.\nThe Federal Open Market Committee releases the minutes from its mid-March monetary-policy meeting.\nCostco Wholesale reports sales data for March.\nLumen Technologies, formerly known as CenturyLink, holds an analyst day. Lumen’s President and CEO Jeff Storey, among others, will discuss strategies to grow the company.\nAdvanced Micro Devices and Xilinx hold special shareholder meetings to seek approval for their proposed merger, first announced in October.AMDhas agreed to buy Xilinx in an all-stock transaction valued at about $35 billion.\nThe Federal Reserve reports consumer credit data for February. Total outstanding consumer credit stands at $4.18 trillion, slightly lower than the all-time peak of $4.21 trillion set in February of last year. In 2020, consumer credit remained essentially unchanged, the first year that it didn’t expand since 2008.\nThursday 4/8\nFederal Reserve Chairman Jerome Powell and International Monetary Fund Managing Director Kristalina Georgieva discuss the global economy at the 2021 spring meetings of the IMF and World Bank Group.\nConagra Brands, Constellation Brands, and Levi Strauss report quarterly results.\nThe Department of Labor reports initial jobless claims for the week ending on April 3. The four-week moving average of jobless claims this past week was 719,000, the lowest since March of last year.\nFriday 4/9\nThe BLS reports the producer price index for March. Expectations are for a 0.5% month-over-month rise, matching the February increase.","news_type":1,"symbols_score_info":{"AMD":0.9,".DJI":0.9,"TMUSR":0.9,".SPX":0.9,"TMUS":0.9,"STZ":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354024102,"gmtCreate":1617113522806,"gmtModify":1634522583283,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354024102","repostId":"1100807571","repostType":4,"isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352693206,"gmtCreate":1616942641305,"gmtModify":1634523459147,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Oh my&nbsp;","listText":"Oh my&nbsp;","text":"Oh my","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/352693206","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","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":1616780260,"share":"https://www.laohu8.com/m/news/1141686975?lang=zh_CN&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预期将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015年至2025年（估计）中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" 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>Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</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; 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\">\nZhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</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\">2021-03-27 01:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预期将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015年至2025年（估计）中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1,"symbols_score_info":{"ZH":0.9}},"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328955082,"gmtCreate":1615481797246,"gmtModify":1703489841803,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328955082","repostId":"1119544264","repostType":4,"isVote":1,"tweetType":1,"viewCount":468,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":329821575,"gmtCreate":1615222346197,"gmtModify":1703485980856,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/329821575","repostId":"1199173220","repostType":4,"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361998701,"gmtCreate":1614183218503,"gmtModify":1634550810822,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/361998701","repostId":"1138795890","repostType":4,"isVote":1,"tweetType":1,"viewCount":623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361998244,"gmtCreate":1614183205788,"gmtModify":1634550811062,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Gd gd","listText":"Gd gd","text":"Gd gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/361998244","repostId":"1138795890","repostType":4,"isVote":1,"tweetType":1,"viewCount":490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361991759,"gmtCreate":1614183173771,"gmtModify":1634550811283,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/361991759","repostId":"1197533827","repostType":4,"repost":{"id":"1197533827","kind":"news","pubTimestamp":1614160523,"share":"https://www.laohu8.com/m/news/1197533827?lang=zh_CN&edition=full","pubTime":"2021-02-24 17:55","market":"us","language":"en","title":"The days of easy money in the stock market are now over<blockquote>股市轻松赚钱的日子现已结束</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197533827","media":"MarketWatch","summary":"Get ready for a return to normal. Lucid’s SPAC and ARK Invest’s ETFs carry the whiff of the late-199","content":"<p>Get ready for a return to normal. Lucid’s SPAC and ARK Invest’s ETFs carry the whiff of the late-1990s technology bubble.</p><p><blockquote>准备好恢复正常吧。Lucid的SPAC和ARK Invest的ETF带有20世纪90年代末科技泡沫的气息。</blockquote></p><p> Ignore stock valuations and companies’ fundamentals at your peril.</p><p><blockquote>忽视股票估值和公司基本面，后果自负。</blockquote></p><p> Churchill Capital Corp. ,a special purpose acquisition company (SPAC) that had been rumored to merge with a Tesla-wannabe, Lucid Motors, finally announced Monday night that it is indeed going to do so. And in a classic Wall Street reaction, the market “sold the news” after long having “bought the rumor.”</p><p><blockquote>Churchill Capital Corp.是一家特殊目的收购公司（SPAC），曾有传言称将与特斯拉的追随者Lucid Motors合并，周一晚上终于宣布确实会这样做。在华尔街的典型反应中，市场在长期“买入谣言”后“卖出消息”。</blockquote></p><p> CCIV was up 500% from when it went public as a blank-check company, and today the stock market has wiped half of what its market value was perceived to be Monday at noon. This is a stock that I had warned about earlier this month as one of the many “Random Number Generators” (RNGs) that should be avoided. People and institutions who had for weeks been buying CCIV at $40, $50, $60 or even $70 per share have suddenly seen a huge wipeout of value.</p><p><blockquote>CCIV较作为空白支票公司上市时上涨了500%，今天股市已经抹去了周一中午预期市值的一半。本月早些时候，我曾警告过这只股票是应避免的众多“随机数生成器”(RNG)之一。几周来一直以每股40美元、50美元、60美元甚至70美元的价格购买CCIV的人和机构突然发现价值大幅缩水。</blockquote></p><p> They’re now, maybe, looking around at their other RNG SPACs and wondering if they should actually look at the valuations.</p><p><blockquote>他们现在可能正在环顾其他RNG SPAC，并想知道是否真的应该看看估值。</blockquote></p><p> Reviewing this week’s ugly stock-market action in a broader context, you might note that Tesla Inc.&nbsp;at $900 — after the company reported a not-so-great quarter that included some questions about gross margin expansion — is looking like it could have been a top-maker itself.</p><p><blockquote>在更广泛的背景下回顾本周丑陋的股市走势，您可能会注意到，特斯拉公司的股价为900美元——此前该公司报告了一个不太好的季度，其中包括一些有关毛利率扩张的问题——看起来可能已经是顶级制造商本身。</blockquote></p><p> Many questionable EV stocks continued to rally for a week or two before getting their comeuppance this week. At least for a day or two. It will be interesting to look back in a month to see what the non-TSLA EV stocks do from here. I expect most to move much lower even than today’s quotes, which are much lower than last week’s quotes.</p><p><blockquote>许多有问题的电动汽车股票在本周受到惩罚之前持续上涨了一两周。至少一两天。一个月后回顾一下非特斯拉电动汽车股票的表现将会很有趣。我预计大多数价格甚至会比今天的报价低得多，今天的报价比上周的报价低得多。</blockquote></p><p> <b>Piling into ARK</b></p><p><blockquote><b>堆积成方舟</b></blockquote></p><p> These days everybody wants to be Cathie Wood from ARK Invest. She was an early bull on Tesla and bitcoinBTCUSD,6.03%and some of the the other themes that long-time followers of mine and I got into even earlier than she did. Her actively managed ETF, ARK Innovation ETF&nbsp;being the most famous, has performed very well, and her commentary has been spot on for a couple years now.</p><p><blockquote>如今，每个人都想成为方舟投资公司的凯西·伍德。她是特斯拉和比特币BTCUSD、6.03%以及我和我的长期追随者甚至比她更早进入的其他一些主题的早期看涨者。她的主动管理型ETF（最著名的ARK Innovation ETF）表现非常好，几年来她的评论一直准确无误。</blockquote></p><p> But I have bad news. Even as I am a fan of Cathie’s and wish her and her investors all the best, I can’t help but think of the story of George Gilder, with whom I’ve become friends in the decades since&nbsp;I wrote this in 2001 for TheStreet.com.&nbsp;(I just realized this article was published just two weeks after 9/11.):</p><p><blockquote>但我有个坏消息。尽管我是Cathie's的粉丝并祝愿她和她的投资者一切顺利，但我还是忍不住想起了乔治·吉尔德(George Gilder)的故事，自从我2001年为TheStreet.com撰写这篇文章以来，我已经和他成为了几十年的朋友。（我刚刚意识到这篇文章是在9/11后两周发表的。）：</blockquote></p><p> <i>“Investors need to heed a few rules when evaluating companies in their portfolio: Cash is king, as cash flow becomes increasingly difficult to judge on an ongoing basis. As such, a simple glance at a company’s balance sheet can tell you a lot about whether it’s worthy of investment. Now that the huge daily run-ups of telco stocks are gone forever, the potential rewards of any business with questionable viability aren’t worth the risk of your capital. Look for real revenue on the books. As tech guru George Gilder and his followers have learned (at least, I hope they have by now), great technology doesn’t translate into a great investment. Companies need sales channels, and they need products for which there are immediate uses. You might be surprised that I didn’t mention profitability in that list. Profitability is naturally important, but even companies like Cisco probably won’t be profitable this quarter and perhaps for several more, as they’ll have to continue aligning capacity, employees and inventory with demand.</i></p><p><blockquote><i>“投资者在评估投资组合中的公司时需要注意一些规则：现金为王，因为现金流变得越来越难以持续判断。因此，简单浏览一下公司的资产负债表就可以告诉你很多关于它是否值得投资。既然电信股票每日大幅上涨的情况已经一去不复返了，任何生存能力值得怀疑的企业的潜在回报都不值得你冒资本风险。寻找账面上的实际收入。正如科技大师乔治·吉尔德和他的追随者所认识到的（至少，我希望他们现在已经认识到了），伟大的技术并不能转化为伟大的投资。公司需要销售渠道，他们需要有直接用途的产品。你可能会惊讶我没有在列表中提到盈利能力。盈利能力自然很重要，但即使是像思科这样的公司也可能无法在本季度甚至更长时间内实现盈利，因为他们必须继续根据需求调整产能、员工和库存。</i></blockquote></p><p> <i>Let me repeat the caveat here: You’ll never see the type of returns, at least in telecom and telecom-tech stocks, that we saw almost daily in the late 1990s. That’s another reason why these tech mutual fund guys, who keep preaching to stay the course, will take forever to get back to even.”</i></p><p><blockquote><i>让我在这里重复一遍警告：你永远不会看到我们在20世纪90年代末几乎每天都能看到的那种回报，至少在电信和电信科技股票中是这样。这就是为什么这些科技共同基金人士不断宣扬坚持到底，却需要很长时间才能恢复平衡的另一个原因。”</i></blockquote></p><p> <b>The hangover</b></p><p><blockquote><b>宿醉</b></blockquote></p><p> Telecom and telecom-tech stocks never again saw the kind of returns they did back in the late 1990s. I think the same can be said of EV stocks and many other of the favorites that Cathie Wood and her crowd of blind followers are these days plowing into as they put their money to work regardless of valuations.</p><p><blockquote>电信和电信科技股再也没有看到20世纪90年代末那样的回报。我认为电动汽车股票以及凯西·伍德（Cathie Wood）和她的一群盲目追随者最近投入的许多其他最爱股票也是如此，因为他们不顾估值而投入资金。</blockquote></p><p> Here’s what George had to say&nbsp;in 2002:</p><p><blockquote>以下是乔治在2002年所说的话：</blockquote></p><p></p><p> <i>“In retrospect, it’s obvious that I should’ve subtly said, ‘Hey, things have gotten out of hand at JDS Uniphase, and it’s not worth what you’d have to pay for it,’” he says. Each month, he thought about providing a warning to his subscribers, and he decided against it every time. He had witnessed firsthand what others had dubbed the “Gilder effect”: the steep spike in a stock after he added that company to his list. It wasn’t unheard of for the price of a stock to jump by more than 50 percent within an hour of a newsletter’s release. If I had said, ‘Hey, this is a top, you should all sell,’ it would’ve been a cataclysmic event,” he says. “I’d think about telling people that they should sell half their holdings, and each time I’d conclude that my subscribers would be enraged. I also wondered what I’d precipitate if I did it.” Fully 50 percent of his readers had signed up for the report at what Gilder now calls the “hysterical peak” of the market. “Half of my subscribers would have been eternally grateful [for a warning], but the other half – the new ones – would’ve been enraged because they had just come in,” he says. “It was quite terrifying. I really didn’t know what to do.” In the end he did nothing. And soon enough, he had an entirely new set of distractions to fret over. “In the past, we’d sell out our investor conferences within two weeks,” Gilder says. “But in 2001, we sent out the same literature and the same invitations, and five or seven people signed up.” He lost the deposits that were placed to reserve hotel space for the gatherings. Newsletter renewal rates plummeted. A huge tax bill came due. By spring 2002, he’d laid off nearly half of his staff. “You can be just fabulously flush one moment, and then the next, you can’t make that last million-dollar payment to your partners, and there’s suddenly a lien on your house,” he says.</i></p><p><blockquote><i>“回想起来，很明显我应该巧妙地说，‘嘿，JDS Uniphase的事情已经失控了，不值得你为此付出代价，’”他说。每个月，他都考虑向他的订户提供警告，但每次他都决定不这样做。他亲眼目睹了其他人所说的“吉尔德效应”：在他将一家公司加入他的名单后，该公司的股票急剧上涨。股票价格在时事通讯发布后一小时内上涨超过50%的情况并非闻所未闻。如果我说，‘嘿，这是一个顶部，你们都应该卖出’，这将是一个灾难性的事件，”他说。“我会考虑告诉人们他们应该卖掉一半的股份，每次我都会得出结论，我的订阅者会被激怒。我也想知道如果我这么做了会导致什么后果。”在吉尔德现在评级的市场“歇斯底里的高峰”，他的读者中有整整50%都报名阅读了这份报告。“我的一半订户会永远感激[警告]，但另一半——新订户——会被激怒，因为他们刚刚进来，”他说。“太可怕了，我真的不知道该怎么办了。”最后他什么也没做。很快，他就有了一系列全新的干扰。“过去，我们的投资者会议会在两周内售罄，”吉尔德说。“但在2001年，我们发出同样的文献，同样的邀请函，就有五七个人报名。”他失去了为聚会预留酒店空间的押金。简讯续订率直线下降。一笔巨额税单到期了。到2002年春天，他已经解雇了近一半的员工。“你可能前一刻还非常富有，下一刻，你就无法向你的合作伙伴支付最后一百万美元，然后你的房子突然就被留置权了，”他说。</i></blockquote></p><p> Many of the best stocks on George’s list at the top in 1999 ended up going down 99% or more. Many went to zero, even as their technologies and ideas carried on and built the internet we all use every day now.</p><p><blockquote>1999年乔治排行榜上名列前茅的许多最佳股票最终下跌了99%或更多。许多人归零，即使他们的技术和想法继续发展，并建立了我们现在每天都在使用的互联网。</blockquote></p><p> CCIV is likely a harbinger of more pain for those who ignore valuations and fundamentals.</p><p><blockquote>对于那些忽视估值和基本面的人来说，CCIV可能预示着更多痛苦。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The days of easy money in the stock market are now over<blockquote>股市轻松赚钱的日子现已结束</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe days of easy money in the stock market are now over<blockquote>股市轻松赚钱的日子现已结束</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-24 17:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Get ready for a return to normal. Lucid’s SPAC and ARK Invest’s ETFs carry the whiff of the late-1990s technology bubble.</p><p><blockquote>准备好恢复正常吧。Lucid的SPAC和ARK Invest的ETF带有20世纪90年代末科技泡沫的气息。</blockquote></p><p> Ignore stock valuations and companies’ fundamentals at your peril.</p><p><blockquote>忽视股票估值和公司基本面，后果自负。</blockquote></p><p> Churchill Capital Corp. ,a special purpose acquisition company (SPAC) that had been rumored to merge with a Tesla-wannabe, Lucid Motors, finally announced Monday night that it is indeed going to do so. And in a classic Wall Street reaction, the market “sold the news” after long having “bought the rumor.”</p><p><blockquote>Churchill Capital Corp.是一家特殊目的收购公司（SPAC），曾有传言称将与特斯拉的追随者Lucid Motors合并，周一晚上终于宣布确实会这样做。在华尔街的典型反应中，市场在长期“买入谣言”后“卖出消息”。</blockquote></p><p> CCIV was up 500% from when it went public as a blank-check company, and today the stock market has wiped half of what its market value was perceived to be Monday at noon. This is a stock that I had warned about earlier this month as one of the many “Random Number Generators” (RNGs) that should be avoided. People and institutions who had for weeks been buying CCIV at $40, $50, $60 or even $70 per share have suddenly seen a huge wipeout of value.</p><p><blockquote>CCIV较作为空白支票公司上市时上涨了500%，今天股市已经抹去了周一中午预期市值的一半。本月早些时候，我曾警告过这只股票是应避免的众多“随机数生成器”(RNG)之一。几周来一直以每股40美元、50美元、60美元甚至70美元的价格购买CCIV的人和机构突然发现价值大幅缩水。</blockquote></p><p> They’re now, maybe, looking around at their other RNG SPACs and wondering if they should actually look at the valuations.</p><p><blockquote>他们现在可能正在环顾其他RNG SPAC，并想知道是否真的应该看看估值。</blockquote></p><p> Reviewing this week’s ugly stock-market action in a broader context, you might note that Tesla Inc.&nbsp;at $900 — after the company reported a not-so-great quarter that included some questions about gross margin expansion — is looking like it could have been a top-maker itself.</p><p><blockquote>在更广泛的背景下回顾本周丑陋的股市走势，您可能会注意到，特斯拉公司的股价为900美元——此前该公司报告了一个不太好的季度，其中包括一些有关毛利率扩张的问题——看起来可能已经是顶级制造商本身。</blockquote></p><p> Many questionable EV stocks continued to rally for a week or two before getting their comeuppance this week. At least for a day or two. It will be interesting to look back in a month to see what the non-TSLA EV stocks do from here. I expect most to move much lower even than today’s quotes, which are much lower than last week’s quotes.</p><p><blockquote>许多有问题的电动汽车股票在本周受到惩罚之前持续上涨了一两周。至少一两天。一个月后回顾一下非特斯拉电动汽车股票的表现将会很有趣。我预计大多数价格甚至会比今天的报价低得多，今天的报价比上周的报价低得多。</blockquote></p><p> <b>Piling into ARK</b></p><p><blockquote><b>堆积成方舟</b></blockquote></p><p> These days everybody wants to be Cathie Wood from ARK Invest. She was an early bull on Tesla and bitcoinBTCUSD,6.03%and some of the the other themes that long-time followers of mine and I got into even earlier than she did. Her actively managed ETF, ARK Innovation ETF&nbsp;being the most famous, has performed very well, and her commentary has been spot on for a couple years now.</p><p><blockquote>如今，每个人都想成为方舟投资公司的凯西·伍德。她是特斯拉和比特币BTCUSD、6.03%以及我和我的长期追随者甚至比她更早进入的其他一些主题的早期看涨者。她的主动管理型ETF（最著名的ARK Innovation ETF）表现非常好，几年来她的评论一直准确无误。</blockquote></p><p> But I have bad news. Even as I am a fan of Cathie’s and wish her and her investors all the best, I can’t help but think of the story of George Gilder, with whom I’ve become friends in the decades since&nbsp;I wrote this in 2001 for TheStreet.com.&nbsp;(I just realized this article was published just two weeks after 9/11.):</p><p><blockquote>但我有个坏消息。尽管我是Cathie's的粉丝并祝愿她和她的投资者一切顺利，但我还是忍不住想起了乔治·吉尔德(George Gilder)的故事，自从我2001年为TheStreet.com撰写这篇文章以来，我已经和他成为了几十年的朋友。（我刚刚意识到这篇文章是在9/11后两周发表的。）：</blockquote></p><p> <i>“Investors need to heed a few rules when evaluating companies in their portfolio: Cash is king, as cash flow becomes increasingly difficult to judge on an ongoing basis. As such, a simple glance at a company’s balance sheet can tell you a lot about whether it’s worthy of investment. Now that the huge daily run-ups of telco stocks are gone forever, the potential rewards of any business with questionable viability aren’t worth the risk of your capital. Look for real revenue on the books. As tech guru George Gilder and his followers have learned (at least, I hope they have by now), great technology doesn’t translate into a great investment. Companies need sales channels, and they need products for which there are immediate uses. You might be surprised that I didn’t mention profitability in that list. Profitability is naturally important, but even companies like Cisco probably won’t be profitable this quarter and perhaps for several more, as they’ll have to continue aligning capacity, employees and inventory with demand.</i></p><p><blockquote><i>“投资者在评估投资组合中的公司时需要注意一些规则：现金为王，因为现金流变得越来越难以持续判断。因此，简单浏览一下公司的资产负债表就可以告诉你很多关于它是否值得投资。既然电信股票每日大幅上涨的情况已经一去不复返了，任何生存能力值得怀疑的企业的潜在回报都不值得你冒资本风险。寻找账面上的实际收入。正如科技大师乔治·吉尔德和他的追随者所认识到的（至少，我希望他们现在已经认识到了），伟大的技术并不能转化为伟大的投资。公司需要销售渠道，他们需要有直接用途的产品。你可能会惊讶我没有在列表中提到盈利能力。盈利能力自然很重要，但即使是像思科这样的公司也可能无法在本季度甚至更长时间内实现盈利，因为他们必须继续根据需求调整产能、员工和库存。</i></blockquote></p><p> <i>Let me repeat the caveat here: You’ll never see the type of returns, at least in telecom and telecom-tech stocks, that we saw almost daily in the late 1990s. That’s another reason why these tech mutual fund guys, who keep preaching to stay the course, will take forever to get back to even.”</i></p><p><blockquote><i>让我在这里重复一遍警告：你永远不会看到我们在20世纪90年代末几乎每天都能看到的那种回报，至少在电信和电信科技股票中是这样。这就是为什么这些科技共同基金人士不断宣扬坚持到底，却需要很长时间才能恢复平衡的另一个原因。”</i></blockquote></p><p> <b>The hangover</b></p><p><blockquote><b>宿醉</b></blockquote></p><p> Telecom and telecom-tech stocks never again saw the kind of returns they did back in the late 1990s. I think the same can be said of EV stocks and many other of the favorites that Cathie Wood and her crowd of blind followers are these days plowing into as they put their money to work regardless of valuations.</p><p><blockquote>电信和电信科技股再也没有看到20世纪90年代末那样的回报。我认为电动汽车股票以及凯西·伍德（Cathie Wood）和她的一群盲目追随者最近投入的许多其他最爱股票也是如此，因为他们不顾估值而投入资金。</blockquote></p><p> Here’s what George had to say&nbsp;in 2002:</p><p><blockquote>以下是乔治在2002年所说的话：</blockquote></p><p></p><p> <i>“In retrospect, it’s obvious that I should’ve subtly said, ‘Hey, things have gotten out of hand at JDS Uniphase, and it’s not worth what you’d have to pay for it,’” he says. Each month, he thought about providing a warning to his subscribers, and he decided against it every time. He had witnessed firsthand what others had dubbed the “Gilder effect”: the steep spike in a stock after he added that company to his list. It wasn’t unheard of for the price of a stock to jump by more than 50 percent within an hour of a newsletter’s release. If I had said, ‘Hey, this is a top, you should all sell,’ it would’ve been a cataclysmic event,” he says. “I’d think about telling people that they should sell half their holdings, and each time I’d conclude that my subscribers would be enraged. I also wondered what I’d precipitate if I did it.” Fully 50 percent of his readers had signed up for the report at what Gilder now calls the “hysterical peak” of the market. “Half of my subscribers would have been eternally grateful [for a warning], but the other half – the new ones – would’ve been enraged because they had just come in,” he says. “It was quite terrifying. I really didn’t know what to do.” In the end he did nothing. And soon enough, he had an entirely new set of distractions to fret over. “In the past, we’d sell out our investor conferences within two weeks,” Gilder says. “But in 2001, we sent out the same literature and the same invitations, and five or seven people signed up.” He lost the deposits that were placed to reserve hotel space for the gatherings. Newsletter renewal rates plummeted. A huge tax bill came due. By spring 2002, he’d laid off nearly half of his staff. “You can be just fabulously flush one moment, and then the next, you can’t make that last million-dollar payment to your partners, and there’s suddenly a lien on your house,” he says.</i></p><p><blockquote><i>“回想起来，很明显我应该巧妙地说，‘嘿，JDS Uniphase的事情已经失控了，不值得你为此付出代价，’”他说。每个月，他都考虑向他的订户提供警告，但每次他都决定不这样做。他亲眼目睹了其他人所说的“吉尔德效应”：在他将一家公司加入他的名单后，该公司的股票急剧上涨。股票价格在时事通讯发布后一小时内上涨超过50%的情况并非闻所未闻。如果我说，‘嘿，这是一个顶部，你们都应该卖出’，这将是一个灾难性的事件，”他说。“我会考虑告诉人们他们应该卖掉一半的股份，每次我都会得出结论，我的订阅者会被激怒。我也想知道如果我这么做了会导致什么后果。”在吉尔德现在评级的市场“歇斯底里的高峰”，他的读者中有整整50%都报名阅读了这份报告。“我的一半订户会永远感激[警告]，但另一半——新订户——会被激怒，因为他们刚刚进来，”他说。“太可怕了，我真的不知道该怎么办了。”最后他什么也没做。很快，他就有了一系列全新的干扰。“过去，我们的投资者会议会在两周内售罄，”吉尔德说。“但在2001年，我们发出同样的文献，同样的邀请函，就有五七个人报名。”他失去了为聚会预留酒店空间的押金。简讯续订率直线下降。一笔巨额税单到期了。到2002年春天，他已经解雇了近一半的员工。“你可能前一刻还非常富有，下一刻，你就无法向你的合作伙伴支付最后一百万美元，然后你的房子突然就被留置权了，”他说。</i></blockquote></p><p> Many of the best stocks on George’s list at the top in 1999 ended up going down 99% or more. Many went to zero, even as their technologies and ideas carried on and built the internet we all use every day now.</p><p><blockquote>1999年乔治排行榜上名列前茅的许多最佳股票最终下跌了99%或更多。许多人归零，即使他们的技术和想法继续发展，并建立了我们现在每天都在使用的互联网。</blockquote></p><p> CCIV is likely a harbinger of more pain for those who ignore valuations and fundamentals.</p><p><blockquote>对于那些忽视估值和基本面的人来说，CCIV可能预示着更多痛苦。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-days-of-easy-money-in-the-stock-market-are-now-over-11614104263?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","TSLA":"特斯拉",".IXIC":"NASDAQ Composite","ARKK":"ARK Innovation ETF"},"source_url":"https://www.marketwatch.com/story/the-days-of-easy-money-in-the-stock-market-are-now-over-11614104263?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1197533827","content_text":"Get ready for a return to normal. Lucid’s SPAC and ARK Invest’s ETFs carry the whiff of the late-1990s technology bubble.\nIgnore stock valuations and companies’ fundamentals at your peril.\nChurchill Capital Corp. ,a special purpose acquisition company (SPAC) that had been rumored to merge with a Tesla-wannabe, Lucid Motors, finally announced Monday night that it is indeed going to do so. And in a classic Wall Street reaction, the market “sold the news” after long having “bought the rumor.”\nCCIV was up 500% from when it went public as a blank-check company, and today the stock market has wiped half of what its market value was perceived to be Monday at noon. This is a stock that I had warned about earlier this month as one of the many “Random Number Generators” (RNGs) that should be avoided. People and institutions who had for weeks been buying CCIV at $40, $50, $60 or even $70 per share have suddenly seen a huge wipeout of value.\nThey’re now, maybe, looking around at their other RNG SPACs and wondering if they should actually look at the valuations.\nReviewing this week’s ugly stock-market action in a broader context, you might note that Tesla Inc. at $900 — after the company reported a not-so-great quarter that included some questions about gross margin expansion — is looking like it could have been a top-maker itself.\nMany questionable EV stocks continued to rally for a week or two before getting their comeuppance this week. At least for a day or two. It will be interesting to look back in a month to see what the non-TSLA EV stocks do from here. I expect most to move much lower even than today’s quotes, which are much lower than last week’s quotes.\nPiling into ARK\nThese days everybody wants to be Cathie Wood from ARK Invest. She was an early bull on Tesla and bitcoinBTCUSD,6.03%and some of the the other themes that long-time followers of mine and I got into even earlier than she did. Her actively managed ETF, ARK Innovation ETF being the most famous, has performed very well, and her commentary has been spot on for a couple years now.\nBut I have bad news. Even as I am a fan of Cathie’s and wish her and her investors all the best, I can’t help but think of the story of George Gilder, with whom I’ve become friends in the decades since I wrote this in 2001 for TheStreet.com. (I just realized this article was published just two weeks after 9/11.):\n“Investors need to heed a few rules when evaluating companies in their portfolio: Cash is king, as cash flow becomes increasingly difficult to judge on an ongoing basis. As such, a simple glance at a company’s balance sheet can tell you a lot about whether it’s worthy of investment. Now that the huge daily run-ups of telco stocks are gone forever, the potential rewards of any business with questionable viability aren’t worth the risk of your capital. Look for real revenue on the books. As tech guru George Gilder and his followers have learned (at least, I hope they have by now), great technology doesn’t translate into a great investment. Companies need sales channels, and they need products for which there are immediate uses. You might be surprised that I didn’t mention profitability in that list. Profitability is naturally important, but even companies like Cisco probably won’t be profitable this quarter and perhaps for several more, as they’ll have to continue aligning capacity, employees and inventory with demand.\nLet me repeat the caveat here: You’ll never see the type of returns, at least in telecom and telecom-tech stocks, that we saw almost daily in the late 1990s. That’s another reason why these tech mutual fund guys, who keep preaching to stay the course, will take forever to get back to even.”\nThe hangover\nTelecom and telecom-tech stocks never again saw the kind of returns they did back in the late 1990s. I think the same can be said of EV stocks and many other of the favorites that Cathie Wood and her crowd of blind followers are these days plowing into as they put their money to work regardless of valuations.\nHere’s what George had to say in 2002:\n“In retrospect, it’s obvious that I should’ve subtly said, ‘Hey, things have gotten out of hand at JDS Uniphase, and it’s not worth what you’d have to pay for it,’” he says. Each month, he thought about providing a warning to his subscribers, and he decided against it every time. He had witnessed firsthand what others had dubbed the “Gilder effect”: the steep spike in a stock after he added that company to his list. It wasn’t unheard of for the price of a stock to jump by more than 50 percent within an hour of a newsletter’s release. If I had said, ‘Hey, this is a top, you should all sell,’ it would’ve been a cataclysmic event,” he says. “I’d think about telling people that they should sell half their holdings, and each time I’d conclude that my subscribers would be enraged. I also wondered what I’d precipitate if I did it.” Fully 50 percent of his readers had signed up for the report at what Gilder now calls the “hysterical peak” of the market. “Half of my subscribers would have been eternally grateful [for a warning], but the other half – the new ones – would’ve been enraged because they had just come in,” he says. “It was quite terrifying. I really didn’t know what to do.” In the end he did nothing. And soon enough, he had an entirely new set of distractions to fret over. “In the past, we’d sell out our investor conferences within two weeks,” Gilder says. “But in 2001, we sent out the same literature and the same invitations, and five or seven people signed up.” He lost the deposits that were placed to reserve hotel space for the gatherings. Newsletter renewal rates plummeted. A huge tax bill came due. By spring 2002, he’d laid off nearly half of his staff. “You can be just fabulously flush one moment, and then the next, you can’t make that last million-dollar payment to your partners, and there’s suddenly a lien on your house,” he says.\nMany of the best stocks on George’s list at the top in 1999 ended up going down 99% or more. Many went to zero, even as their technologies and ideas carried on and built the internet we all use every day now.\nCCIV is likely a harbinger of more pain for those who ignore valuations and fundamentals.","news_type":1,"symbols_score_info":{".DJI":0.9,"ARKK":0.9,".IXIC":0.9,"TSLA":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":624,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":388329297,"gmtCreate":1613026070019,"gmtModify":1703768499197,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/388329297","repostId":"2110041062","repostType":4,"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":388329187,"gmtCreate":1613026042749,"gmtModify":1703768499027,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/388329187","repostId":"2110044852","repostType":4,"isVote":1,"tweetType":1,"viewCount":372,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314426774,"gmtCreate":1612368077798,"gmtModify":1703761034583,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/314426774","repostId":"2108876804","repostType":4,"isVote":1,"tweetType":1,"viewCount":475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":377492946,"gmtCreate":1619543006385,"gmtModify":1634211914861,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/377492946","repostId":"1126295947","repostType":4,"repost":{"id":"1126295947","kind":"news","pubTimestamp":1619536887,"share":"https://www.laohu8.com/m/news/1126295947?lang=zh_CN&edition=full","pubTime":"2021-04-27 23:21","market":"us","language":"en","title":"Analysts like Spotify's price hikes, though user growth may pay the cost<blockquote>分析师喜欢Spotify的提价，尽管用户增长可能会付出代价</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126295947","media":"seekingalpha","summary":"News of a Spotify (SPOT-1.3%) price increasegoosed the company's shares yesterday, and while analyst","content":"<p>News of a Spotify (SPOT-1.3%) price increasegoosed the company's shares yesterday, and while analyst reaction was mostly positive,there were some notes around risks to subscription gains.</p><p><blockquote>Spotify(SPOT-1.3%)价格上涨的消息昨天提振了该公司的股价，虽然分析师的反应大多是积极的，但也有一些关于订阅收益风险的说明。</blockquote></p><p> Bullish Rosenblatt is on the positive side of the increases. They're \"just the beginning of new revenue lift initiatives over the next 24 months,\" it says. The firm has a $425 price target, implying 44% upside.</p><p><blockquote>看涨的罗森布拉特对上涨持积极态度。报告称，它们“只是未来24个月新的增收举措的开始”。该公司的目标价为425美元，意味着44%的上涨空间。</blockquote></p><p> Jefferies sees the price increases as positive as they bolster Spotify's identity as a platform rather than just a streaming service (meaning stickier customers, and more pricing power). But the price moves are interesting particularly given Apple's recent inroads into podcasting, calling for keeping an eye on churn. The firm has its price target at $360.</p><p><blockquote>杰富瑞认为价格上涨是积极的，因为它们增强了Spotify作为平台而不仅仅是流媒体服务的身份（意味着更有粘性的客户和更大的定价能力）。但价格变动很有趣，特别是考虑到苹果最近进军播客领域，呼吁密切关注客户流失。该公司的目标价为360美元。</blockquote></p><p> And KeyBanc rates it Sector Weight; while the move illustrates some pricing power, it could mean a hit to user growth: \"We suspect management is contemplating a lower than normal net subscriber add quarter.\"</p><p><blockquote>KeyBanc对it行业权重进行评级；虽然此举说明了一些定价能力，但这可能意味着对用户增长的打击：“我们怀疑管理层正在考虑低于正常水平的净用户增长季度。”</blockquote></p><p> The company is set to report earnings before the open tomorrow;consensus estimates are for EPS of -$0.51 on revenues of $2.6B.</p><p><blockquote>该公司定于明天开盘前公布收益；普遍预测每股收益为-0.51美元，收入为$2.6 B。</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>Analysts like Spotify's price hikes, though user growth may pay the cost<blockquote>分析师喜欢Spotify的提价，尽管用户增长可能会付出代价</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\">\nAnalysts like Spotify's price hikes, though user growth may pay the cost<blockquote>分析师喜欢Spotify的提价，尽管用户增长可能会付出代价</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-04-27 23:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>News of a Spotify (SPOT-1.3%) price increasegoosed the company's shares yesterday, and while analyst reaction was mostly positive,there were some notes around risks to subscription gains.</p><p><blockquote>Spotify(SPOT-1.3%)价格上涨的消息昨天提振了该公司的股价，虽然分析师的反应大多是积极的，但也有一些关于订阅收益风险的说明。</blockquote></p><p> Bullish Rosenblatt is on the positive side of the increases. They're \"just the beginning of new revenue lift initiatives over the next 24 months,\" it says. The firm has a $425 price target, implying 44% upside.</p><p><blockquote>看涨的罗森布拉特对上涨持积极态度。报告称，它们“只是未来24个月新的增收举措的开始”。该公司的目标价为425美元，意味着44%的上涨空间。</blockquote></p><p> Jefferies sees the price increases as positive as they bolster Spotify's identity as a platform rather than just a streaming service (meaning stickier customers, and more pricing power). But the price moves are interesting particularly given Apple's recent inroads into podcasting, calling for keeping an eye on churn. The firm has its price target at $360.</p><p><blockquote>杰富瑞认为价格上涨是积极的，因为它们增强了Spotify作为平台而不仅仅是流媒体服务的身份（意味着更有粘性的客户和更大的定价能力）。但价格变动很有趣，特别是考虑到苹果最近进军播客领域，呼吁密切关注客户流失。该公司的目标价为360美元。</blockquote></p><p> And KeyBanc rates it Sector Weight; while the move illustrates some pricing power, it could mean a hit to user growth: \"We suspect management is contemplating a lower than normal net subscriber add quarter.\"</p><p><blockquote>KeyBanc对it行业权重进行评级；虽然此举说明了一些定价能力，但这可能意味着对用户增长的打击：“我们怀疑管理层正在考虑低于正常水平的净用户增长季度。”</blockquote></p><p> The company is set to report earnings before the open tomorrow;consensus estimates are for EPS of -$0.51 on revenues of $2.6B.</p><p><blockquote>该公司定于明天开盘前公布收益；普遍预测每股收益为-0.51美元，收入为$2.6 B。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3686176-analysts-like-spotifys-price-hikes-though-user-growth-may-pay-the-cost\">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":{"SPOT":"Spotify Technology S.A."},"source_url":"https://seekingalpha.com/news/3686176-analysts-like-spotifys-price-hikes-though-user-growth-may-pay-the-cost","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126295947","content_text":"News of a Spotify (SPOT-1.3%) price increasegoosed the company's shares yesterday, and while analyst reaction was mostly positive,there were some notes around risks to subscription gains.\nBullish Rosenblatt is on the positive side of the increases. They're \"just the beginning of new revenue lift initiatives over the next 24 months,\" it says. The firm has a $425 price target, implying 44% upside.\nJefferies sees the price increases as positive as they bolster Spotify's identity as a platform rather than just a streaming service (meaning stickier customers, and more pricing power). But the price moves are interesting particularly given Apple's recent inroads into podcasting, calling for keeping an eye on churn. The firm has its price target at $360.\nAnd KeyBanc rates it Sector Weight; while the move illustrates some pricing power, it could mean a hit to user growth: \"We suspect management is contemplating a lower than normal net subscriber add quarter.\"\nThe company is set to report earnings before the open tomorrow;consensus estimates are for EPS of -$0.51 on revenues of $2.6B.","news_type":1,"symbols_score_info":{"SPOT":0.9}},"isVote":1,"tweetType":1,"viewCount":2442,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352693206,"gmtCreate":1616942641305,"gmtModify":1634523459147,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Oh my&nbsp;","listText":"Oh my&nbsp;","text":"Oh my","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/352693206","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","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":1616780260,"share":"https://www.laohu8.com/m/news/1141686975?lang=zh_CN&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预期将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015年至2025年（估计）中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" 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>Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</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; 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\">\nZhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</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\">2021-03-27 01:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预期将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015年至2025年（估计）中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1,"symbols_score_info":{"ZH":0.9}},"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342575864,"gmtCreate":1618235243558,"gmtModify":1634294266768,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Merge merge merge","listText":"Merge merge merge","text":"Merge merge merge","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/342575864","repostId":"1132530538","repostType":4,"repost":{"id":"1132530538","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":1618235022,"share":"https://www.laohu8.com/m/news/1132530538?lang=zh_CN&edition=full","pubTime":"2021-04-12 21:43","market":"us","language":"en","title":"Aphria shares drop 13% as results trail consensus; top line hit by lockdowns across Canada<blockquote>由于业绩落后于共识，Aphria股价下跌13%；加拿大各地封锁影响营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132530538","media":"Tiger Newspress","summary":"(April 12) Aphria shares plummet 9% premarket after fiscal Q3 2021 results misses consensus. (All fi","content":"<p>(April 12)&nbsp;Aphria&nbsp;shares plummet 9% premarket&nbsp;after&nbsp;fiscal Q3 2021 results&nbsp;misses consensus. (All figures are in C$).</p><p><blockquote>（4月12日）2021财年第三季度业绩未达共识后，Aphria股价盘前暴跌9%。（所有数字均以加元为单位）。</blockquote></p><p> <ul>  <li>Net revenue of $153.6M, +6.4% and a decrease of 4.3% Q/Q, missed analyst expectations of $163.3M.</li>  <li>Net cannabis revenue of $51.7M, 7.8% lower from FQ3 2020, and down 23.8% from prior quarter.</li>  <li>Gross revenue for adult-use cannabis of $59.6M, +33.4% Y/Y, and a decline of 17.3% Q/Q.</li>  <li>FQ3 revenues were impacted by lockdowns in the major Canadian provinces and in Germany.</li>  <li>Adjusted cannabis gross margin of 39.2% vs. 45.9% in prior quarter.</li>  <li>For FQ3 2021, APHA missed its non-GAAP/GAAP EPS forecast. The company reported non-GAAP loss/share of $0.15/share and GAAP loss/share of $1.14.</li>  <li>Kilograms sold: 18,695, a decrease of 30.1% compared to sales of 26,730 in Q2 2021.</li>  <li>Cash cost to produce dried cannabis per gram of $0.90, +13.9% Q/Q.</li>  <li>Adjusted EBITDA rose slightly in FQ3 to $12.7M compared prior quarter; Adjusted EBITDA from cannabis business fell to $7.9M compared to $12.9M in FQ2 2021.</li>  <li>Cash provided by operating activities of $1.2M vs. $3.4M in FQ2 2021.</li> </ul> Conference call is set for 9 ET.</p><p><blockquote><ul><li>净收入为1.536亿美元，同比增长6.4%，环比下降4.3%，低于分析师预期的1.633亿美元。</li><li>大麻净收入为5170万美元，比2020年第三季度下降7.8%，比上一季度下降23.8%。</li><li>成人用大麻的总收入为5960万美元，同比增长33.4%，环比下降17.3%。</li><li>第三季度收入受到加拿大主要省份和德国封锁的影响。</li><li>调整后大麻毛利率为39.2%，上一季度为45.9%。</li><li>对于2021年第三季度，APHA未达到其非GAAP/GAAP每股收益预测。该公司报告非GAAP每股亏损为0.15美元，GAAP每股亏损为1.14美元。</li><li>销量：18,695公斤，比2021年第二季度的26,730公斤下降30.1%。</li><li>生产每克干大麻的现金成本为0.90美元，环比增长13.9%。</li><li>第三季度调整后EBITDA较上一季度小幅上升至1,270万美元；大麻业务调整后EBITDA降至790万美元，而2021年第二季度为1290万美元。</li><li>经营活动提供的现金为120万美元，而2021年第二季度为340万美元。</li></ul>电话会议定于东部时间9点。</blockquote></p><p> Also, during FQ3, the company reached agreementto combine with Tilray.</p><p><blockquote>此外，在第三季度，该公司达成了与Tilray合并的协议。</blockquote></p><p> Aphria is also in this week's Seeking Alpha Catalyst Watch as the company hosts a special meeting onApril 16 to vote on the proposed merger with Tilray.</p><p><blockquote>Aphria也出现在本周的Seeking Alpha Catalyst观察中，该公司将于4月16日召开特别会议，就与Tilray的合并提议进行投票。</blockquote></p><p> Other pot stocks down this morning include: Tilray&nbsp;-10.93%, Aurora Cannabis&nbsp;-6.08%.</p><p><blockquote>今天上午下跌的其他大麻股包括：Tilray-10.93%、Aurora Cannabis-6.08%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2ab29a6387a83442f1218efc066acfb7\" tg-width=\"288\" tg-height=\"116\"></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>Aphria shares drop 13% as results trail consensus; top line hit by lockdowns across Canada<blockquote>由于业绩落后于共识，Aphria股价下跌13%；加拿大各地封锁影响营收</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\">\nAphria shares drop 13% as results trail consensus; top line hit by lockdowns across Canada<blockquote>由于业绩落后于共识，Aphria股价下跌13%；加拿大各地封锁影响营收</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\">2021-04-12 21:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(April 12)&nbsp;Aphria&nbsp;shares plummet 9% premarket&nbsp;after&nbsp;fiscal Q3 2021 results&nbsp;misses consensus. (All figures are in C$).</p><p><blockquote>（4月12日）2021财年第三季度业绩未达共识后，Aphria股价盘前暴跌9%。（所有数字均以加元为单位）。</blockquote></p><p> <ul>  <li>Net revenue of $153.6M, +6.4% and a decrease of 4.3% Q/Q, missed analyst expectations of $163.3M.</li>  <li>Net cannabis revenue of $51.7M, 7.8% lower from FQ3 2020, and down 23.8% from prior quarter.</li>  <li>Gross revenue for adult-use cannabis of $59.6M, +33.4% Y/Y, and a decline of 17.3% Q/Q.</li>  <li>FQ3 revenues were impacted by lockdowns in the major Canadian provinces and in Germany.</li>  <li>Adjusted cannabis gross margin of 39.2% vs. 45.9% in prior quarter.</li>  <li>For FQ3 2021, APHA missed its non-GAAP/GAAP EPS forecast. The company reported non-GAAP loss/share of $0.15/share and GAAP loss/share of $1.14.</li>  <li>Kilograms sold: 18,695, a decrease of 30.1% compared to sales of 26,730 in Q2 2021.</li>  <li>Cash cost to produce dried cannabis per gram of $0.90, +13.9% Q/Q.</li>  <li>Adjusted EBITDA rose slightly in FQ3 to $12.7M compared prior quarter; Adjusted EBITDA from cannabis business fell to $7.9M compared to $12.9M in FQ2 2021.</li>  <li>Cash provided by operating activities of $1.2M vs. $3.4M in FQ2 2021.</li> </ul> Conference call is set for 9 ET.</p><p><blockquote><ul><li>净收入为1.536亿美元，同比增长6.4%，环比下降4.3%，低于分析师预期的1.633亿美元。</li><li>大麻净收入为5170万美元，比2020年第三季度下降7.8%，比上一季度下降23.8%。</li><li>成人用大麻的总收入为5960万美元，同比增长33.4%，环比下降17.3%。</li><li>第三季度收入受到加拿大主要省份和德国封锁的影响。</li><li>调整后大麻毛利率为39.2%，上一季度为45.9%。</li><li>对于2021年第三季度，APHA未达到其非GAAP/GAAP每股收益预测。该公司报告非GAAP每股亏损为0.15美元，GAAP每股亏损为1.14美元。</li><li>销量：18,695公斤，比2021年第二季度的26,730公斤下降30.1%。</li><li>生产每克干大麻的现金成本为0.90美元，环比增长13.9%。</li><li>第三季度调整后EBITDA较上一季度小幅上升至1,270万美元；大麻业务调整后EBITDA降至790万美元，而2021年第二季度为1290万美元。</li><li>经营活动提供的现金为120万美元，而2021年第二季度为340万美元。</li></ul>电话会议定于东部时间9点。</blockquote></p><p> Also, during FQ3, the company reached agreementto combine with Tilray.</p><p><blockquote>此外，在第三季度，该公司达成了与Tilray合并的协议。</blockquote></p><p> Aphria is also in this week's Seeking Alpha Catalyst Watch as the company hosts a special meeting onApril 16 to vote on the proposed merger with Tilray.</p><p><blockquote>Aphria也出现在本周的Seeking Alpha Catalyst观察中，该公司将于4月16日召开特别会议，就与Tilray的合并提议进行投票。</blockquote></p><p> Other pot stocks down this morning include: Tilray&nbsp;-10.93%, Aurora Cannabis&nbsp;-6.08%.</p><p><blockquote>今天上午下跌的其他大麻股包括：Tilray-10.93%、Aurora Cannabis-6.08%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2ab29a6387a83442f1218efc066acfb7\" tg-width=\"288\" tg-height=\"116\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"APHA":"Aphria Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132530538","content_text":"(April 12) Aphria shares plummet 9% premarket after fiscal Q3 2021 results misses consensus. (All figures are in C$).\n\nNet revenue of $153.6M, +6.4% and a decrease of 4.3% Q/Q, missed analyst expectations of $163.3M.\nNet cannabis revenue of $51.7M, 7.8% lower from FQ3 2020, and down 23.8% from prior quarter.\nGross revenue for adult-use cannabis of $59.6M, +33.4% Y/Y, and a decline of 17.3% Q/Q.\nFQ3 revenues were impacted by lockdowns in the major Canadian provinces and in Germany.\nAdjusted cannabis gross margin of 39.2% vs. 45.9% in prior quarter.\nFor FQ3 2021, APHA missed its non-GAAP/GAAP EPS forecast. The company reported non-GAAP loss/share of $0.15/share and GAAP loss/share of $1.14.\nKilograms sold: 18,695, a decrease of 30.1% compared to sales of 26,730 in Q2 2021.\nCash cost to produce dried cannabis per gram of $0.90, +13.9% Q/Q.\nAdjusted EBITDA rose slightly in FQ3 to $12.7M compared prior quarter; Adjusted EBITDA from cannabis business fell to $7.9M compared to $12.9M in FQ2 2021.\nCash provided by operating activities of $1.2M vs. $3.4M in FQ2 2021.\n\nConference call is set for 9 ET.\nAlso, during FQ3, the company reached agreementto combine with Tilray.\nAphria is also in this week's Seeking Alpha Catalyst Watch as the company hosts a special meeting onApril 16 to vote on the proposed merger with Tilray.\nOther pot stocks down this morning include: Tilray -10.93%, Aurora Cannabis -6.08%.","news_type":1,"symbols_score_info":{"APHA":0.9}},"isVote":1,"tweetType":1,"viewCount":1329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":693892894,"gmtCreate":1639995820028,"gmtModify":1639995820146,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Some good news at least&nbsp;","listText":"Some good news at least&nbsp;","text":"Some good news at least","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693892894","repostId":"1119949146","repostType":2,"repost":{"id":"1119949146","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":1639994604,"share":"https://www.laohu8.com/m/news/1119949146?lang=zh_CN&edition=full","pubTime":"2021-12-20 18:03","market":"us","language":"en","title":"Moderna shares surged nearly 6% in premarket trading<blockquote>Moderna股价在盘前交易中飙升近6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119949146","media":"Tiger Newspress","summary":"Moderna shares surged nearly 6% in premarket trading.\nA booster shot of the Moderna coronavirus vacc","content":"<p>Moderna&nbsp;shares&nbsp;surged&nbsp;nearly&nbsp;6%&nbsp;in&nbsp;premarket&nbsp;trading.</p><p><blockquote>Moderna股价在盘前交易中飙升近6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/489eb9e0c67aa09a3e00c43600becc39\" tg-width=\"719\" tg-height=\"605\" referrerpolicy=\"no-referrer\">A booster shot of the Moderna coronavirus vaccine significantly raises the level of antibodies that can thwart the Omicron variant.</p><p><blockquote>Moderna冠状病毒疫苗的加强注射显著提高了可以阻止奥密克戎变种的抗体水平。</blockquote></p><p> The first data available for Moderna’s COVID-19 vaccine suggests a third&nbsp;booster dose will be effective against omicron, the variant that is rapidly taking over the world.</p><p><blockquote>Moderna新冠肺炎疫苗的第一批可用数据表明，第三次加强剂量将有效对抗奥密克戎病毒，这种变异正在迅速席卷全球。</blockquote></p><p> Moderna said early Monday that in a lab study, blood from 20 people who received the 50-microgram Moderna booster had 37 times the number of neutralizing antibodies as compared to blood from the same number of people who only received two shots.</p><p><blockquote>Moderna周一早些时候表示，在一项实验室研究中，20名接受50微克Moderna加强剂的人的血液中中和抗体数量是仅接受两次注射的相同数量的人的37倍。</blockquote></p><p> Moderna had reduced the dose of its booster to half the dose of the original two shots to limit side effects like fever, muscle aches, and fatigue.</p><p><blockquote>Moderna已将加强剂的剂量减少到最初两次注射剂量的一半，以限制发烧、肌肉疼痛和疲劳等副作用。</blockquote></p><p> A group that received a third shot of the higher, 100-microgram dose&nbsp;saw an 83-fold jump in neutralizing antibodies against omicron.</p><p><blockquote>接受第三次更高剂量（100微克）注射的一组奥密克戎病毒中和抗体增加了83倍。</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>Moderna shares surged nearly 6% in premarket trading<blockquote>Moderna股价在盘前交易中飙升近6%</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\">\nModerna shares surged nearly 6% in premarket trading<blockquote>Moderna股价在盘前交易中飙升近6%</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\">2021-12-20 18:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Moderna&nbsp;shares&nbsp;surged&nbsp;nearly&nbsp;6%&nbsp;in&nbsp;premarket&nbsp;trading.</p><p><blockquote>Moderna股价在盘前交易中飙升近6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/489eb9e0c67aa09a3e00c43600becc39\" tg-width=\"719\" tg-height=\"605\" referrerpolicy=\"no-referrer\">A booster shot of the Moderna coronavirus vaccine significantly raises the level of antibodies that can thwart the Omicron variant.</p><p><blockquote>Moderna冠状病毒疫苗的加强注射显著提高了可以阻止奥密克戎变种的抗体水平。</blockquote></p><p> The first data available for Moderna’s COVID-19 vaccine suggests a third&nbsp;booster dose will be effective against omicron, the variant that is rapidly taking over the world.</p><p><blockquote>Moderna新冠肺炎疫苗的第一批可用数据表明，第三次加强剂量将有效对抗奥密克戎病毒，这种变异正在迅速席卷全球。</blockquote></p><p> Moderna said early Monday that in a lab study, blood from 20 people who received the 50-microgram Moderna booster had 37 times the number of neutralizing antibodies as compared to blood from the same number of people who only received two shots.</p><p><blockquote>Moderna周一早些时候表示，在一项实验室研究中，20名接受50微克Moderna加强剂的人的血液中中和抗体数量是仅接受两次注射的相同数量的人的37倍。</blockquote></p><p> Moderna had reduced the dose of its booster to half the dose of the original two shots to limit side effects like fever, muscle aches, and fatigue.</p><p><blockquote>Moderna已将加强剂的剂量减少到最初两次注射剂量的一半，以限制发烧、肌肉疼痛和疲劳等副作用。</blockquote></p><p> A group that received a third shot of the higher, 100-microgram dose&nbsp;saw an 83-fold jump in neutralizing antibodies against omicron.</p><p><blockquote>接受第三次更高剂量（100微克）注射的一组奥密克戎病毒中和抗体增加了83倍。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119949146","content_text":"Moderna shares surged nearly 6% in premarket trading.\nA booster shot of the Moderna coronavirus vaccine significantly raises the level of antibodies that can thwart the Omicron variant.\nThe first data available for Moderna’s COVID-19 vaccine suggests a third booster dose will be effective against omicron, the variant that is rapidly taking over the world.\nModerna said early Monday that in a lab study, blood from 20 people who received the 50-microgram Moderna booster had 37 times the number of neutralizing antibodies as compared to blood from the same number of people who only received two shots.\nModerna had reduced the dose of its booster to half the dose of the original two shots to limit side effects like fever, muscle aches, and fatigue.\nA group that received a third shot of the higher, 100-microgram dose saw an 83-fold jump in neutralizing antibodies against omicron.","news_type":1,"symbols_score_info":{"MRNA":0.9}},"isVote":1,"tweetType":1,"viewCount":2555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":161735321,"gmtCreate":1623940228363,"gmtModify":1634025557215,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161735321","repostId":"1159902153","repostType":4,"isVote":1,"tweetType":1,"viewCount":1289,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":851998063,"gmtCreate":1634862620947,"gmtModify":1634862621062,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Lol nice 1","listText":"Lol nice 1","text":"Lol nice 1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851998063","repostId":"2177640184","repostType":4,"isVote":1,"tweetType":1,"viewCount":3084,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":101690230,"gmtCreate":1619887817420,"gmtModify":1634209295215,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Wow!!!!!&nbsp;","listText":"Wow!!!!!&nbsp;","text":"Wow!!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/101690230","repostId":"2132603015","repostType":4,"isVote":1,"tweetType":1,"viewCount":1471,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354024102,"gmtCreate":1617113522806,"gmtModify":1634522583283,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354024102","repostId":"1100807571","repostType":4,"isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377496671,"gmtCreate":1619542924393,"gmtModify":1634211915229,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Nicely done","listText":"Nicely done","text":"Nicely done","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/377496671","repostId":"1179445286","repostType":4,"repost":{"id":"1179445286","kind":"news","pubTimestamp":1619537418,"share":"https://www.laohu8.com/m/news/1179445286?lang=zh_CN&edition=full","pubTime":"2021-04-27 23:30","market":"us","language":"en","title":"UPS lifts freight and logistics sector with strong earnings report<blockquote>UPS凭借强劲的盈利报告提振货运和物流行业</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1179445286","media":"seekingalpha","summary":"A number of freight, logistics and trucking stocks are tracking higher after a strong earnings repor","content":"<p>A number of freight, logistics and trucking stocks are tracking higher after a strong earnings report from UPS(UPS+10.2%).</p><p><blockquote>在UPS发布强劲的收益报告（UPS+10.2%）后，许多货运、物流和卡车运输股票走高。</blockquote></p><p> Notable gainers in morning trading include XPO Logistics(XPO+3.2%), Air T(AIRT+1.7%), Covenant Logistics Group(CVLG+10.5%), Yellow Corporation(YELL+6.0%), J.B. Hunt Transports(JBHT+1.1%), USA Truck(USAK+4.0%), U.S. Xpress Enterprises(USX+4.0%), ArcBest(ARCB+2.1%)and Steel Connect(STCN+2.0%).</p><p><blockquote>早盘涨幅较大的股票包括XPO Logistics(XPO+3.2%)、Air T(AIRT+1.7%)、Covenant Logistics Group(CVLG+10.5%)、Yellow Corporation(YELL+6.0%)、J.B.Hunt Transports(JBHT+1.1%)、USA Truck(USAK+4.0%)、U.S.Xpress Enterprises(USX+4.0%)、ArcBest(ARCB+2.1%)和Steel Connect(STCN+2.0%)。</blockquote></p><p> UPS isn't far from trading over $200 for the first time in its history after the earnings blowout.</p><p><blockquote>在盈利井喷之后，UPS的股价距离其历史上首次突破200美元已经不远了。</blockquote></p><p> \"The company crushed our more conservative estimates, as operating leverage in the domestic segment – the key controversy on the stock – was very strong,\" updates Bernstein analyst David Vernon on the UPS earnings report.</p><p><blockquote>伯恩斯坦分析师戴维·弗农(David Vernon)在UPS收益报告中更新道：“该公司超出了我们更保守的估计，因为国内市场的运营杠杆（该股的主要争议）非常强劲。”</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>UPS lifts freight and logistics sector with strong earnings report<blockquote>UPS凭借强劲的盈利报告提振货运和物流行业</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\">\nUPS lifts freight and logistics sector with strong earnings report<blockquote>UPS凭借强劲的盈利报告提振货运和物流行业</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-04-27 23:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A number of freight, logistics and trucking stocks are tracking higher after a strong earnings report from UPS(UPS+10.2%).</p><p><blockquote>在UPS发布强劲的收益报告（UPS+10.2%）后，许多货运、物流和卡车运输股票走高。</blockquote></p><p> Notable gainers in morning trading include XPO Logistics(XPO+3.2%), Air T(AIRT+1.7%), Covenant Logistics Group(CVLG+10.5%), Yellow Corporation(YELL+6.0%), J.B. Hunt Transports(JBHT+1.1%), USA Truck(USAK+4.0%), U.S. Xpress Enterprises(USX+4.0%), ArcBest(ARCB+2.1%)and Steel Connect(STCN+2.0%).</p><p><blockquote>早盘涨幅较大的股票包括XPO Logistics(XPO+3.2%)、Air T(AIRT+1.7%)、Covenant Logistics Group(CVLG+10.5%)、Yellow Corporation(YELL+6.0%)、J.B.Hunt Transports(JBHT+1.1%)、USA Truck(USAK+4.0%)、U.S.Xpress Enterprises(USX+4.0%)、ArcBest(ARCB+2.1%)和Steel Connect(STCN+2.0%)。</blockquote></p><p> UPS isn't far from trading over $200 for the first time in its history after the earnings blowout.</p><p><blockquote>在盈利井喷之后，UPS的股价距离其历史上首次突破200美元已经不远了。</blockquote></p><p> \"The company crushed our more conservative estimates, as operating leverage in the domestic segment – the key controversy on the stock – was very strong,\" updates Bernstein analyst David Vernon on the UPS earnings report.</p><p><blockquote>伯恩斯坦分析师戴维·弗农(David Vernon)在UPS收益报告中更新道：“该公司超出了我们更保守的估计，因为国内市场的运营杠杆（该股的主要争议）非常强劲。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3686179-ups-lifts-freight-and-logistics-sector-with-strong-earnings-report\">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":{"UPS":"联合包裹"},"source_url":"https://seekingalpha.com/news/3686179-ups-lifts-freight-and-logistics-sector-with-strong-earnings-report","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179445286","content_text":"A number of freight, logistics and trucking stocks are tracking higher after a strong earnings report from UPS(UPS+10.2%).\nNotable gainers in morning trading include XPO Logistics(XPO+3.2%), Air T(AIRT+1.7%), Covenant Logistics Group(CVLG+10.5%), Yellow Corporation(YELL+6.0%), J.B. Hunt Transports(JBHT+1.1%), USA Truck(USAK+4.0%), U.S. Xpress Enterprises(USX+4.0%), ArcBest(ARCB+2.1%)and Steel Connect(STCN+2.0%).\nUPS isn't far from trading over $200 for the first time in its history after the earnings blowout.\n\"The company crushed our more conservative estimates, as operating leverage in the domestic segment – the key controversy on the stock – was very strong,\" updates Bernstein analyst David Vernon on the UPS earnings report.","news_type":1,"symbols_score_info":{"UPS":0.9}},"isVote":1,"tweetType":1,"viewCount":1502,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349582982,"gmtCreate":1617625967546,"gmtModify":1634297491413,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Gd gd","listText":"Gd gd","text":"Gd gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/349582982","repostId":"1143289418","repostType":4,"repost":{"id":"1143289418","kind":"news","pubTimestamp":1617608016,"share":"https://www.laohu8.com/m/news/1143289418?lang=zh_CN&edition=full","pubTime":"2021-04-05 15:33","market":"us","language":"en","title":"T-Mobile, AMD, Levi Strauss, Constellation Brands, and Other Stocks to Watch This Week<blockquote>T-Mobile、AMD、李维斯、Constellation Brands和其他本周值得关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143289418","media":"Barrons","summary":"It’s a quiet week on the earnings calendar. The handful of notable companies reporting include Paych","content":"<p>It’s a quiet week on the earnings calendar. The handful of notable companies reporting include Paychex on Tuesday, Lamb Weston Holdings on Wednesday, and Conagra Brands, Constellation Brands, and Levi Strauss all on Thursday.</p><p><blockquote>这是财报日历上平静的一周。少数著名的公司包括周二的Paychex、周三的Lamb Weston Holdings以及周四的Conagra Brands、Constellation Brands和李维斯。</blockquote></p><p> Applied Materials management will speak with Wall Street on Tuesday, while Lumen&nbsp;Technologies and T-Mobile US both host investor events on Wednesday. Also on Wednesday, Advanced Micro Devices and Xilinx shareholders will vote on the chip designers’ proposed&nbsp;merger.</p><p><blockquote>应用材料管理公司将于周二与华尔街进行对话，而Lumen Technologies和T-Mobile US均将于周三举办投资者活动。同样在周三，Advanced Micro Devices和Xilinx的股东将就芯片设计公司的合并提议进行投票。</blockquote></p><p> Central bank and monetary policy watchers will have plenty to tune into: The International Monetary Fund and World Bank hold their virtual 2021 spring meetings this week.&nbsp;Federal Reserve Chairman Jerome Powell and IMF Managing Director Kristalina Georgieva will discuss the global economy at an event on Thursday.</p><p><blockquote>央行和货币政策观察人士将有很多值得关注的内容：国际货币基金组织和世界银行本周将举行虚拟的2021年春季会议。美联储主席杰罗姆·鲍威尔和国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃将在周四的一次活动中讨论全球经济。</blockquote></p><p> The minutes from the Fed’s monetary policy committee’s March meeting will also be released this Wednesday. Economic data out this week include the Institute for Supply Management’s Services Purchasing Managers’ Index for March on Monday and the Bureau of Labor Statistics’&nbsp;producer price index for March on Friday.</p><p><blockquote>美联储货币政策委员会3月会议纪要也将于本周三公布。本周公布的经济数据包括周一供应管理协会3月份服务业采购经理人指数和周五劳工统计局3月份生产者价格指数。</blockquote></p><p> <b>Monday 4/5</b></p><p><blockquote><b>星期一4/5</b></blockquote></p><p> <b>Many stock exchanges</b>&nbsp;across the globe, including those in Germany and the United Kingdom, are closed in observance of Easter.</p><p><blockquote><b>多家证券交易所</b>包括德国和英国在内的全球各地都因复活节而关闭。</blockquote></p><p> <b>The International Monetary</b>&nbsp;Fund and World Bank Group hold their 2021 spring meetings, virtually. The event will run through Sunday, April 11.</p><p><blockquote><b>国际货币</b>基金组织和世界银行集团以虚拟方式举行2021年春季会议。该活动将持续到4月11日周日。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Services Purchasing Managers’ Index for March. Economists forecast a 58.5 reading, higher than February’s 55.3.</p><p><blockquote><b>供应研究所</b>管理层发布三月份服务业采购经理人指数。经济学家预测为58.5，高于2月份的55.3。</blockquote></p><p> <b>Tuesday 4/6</b></p><p><blockquote><b>星期二4/6</b></blockquote></p><p> Paychex reports quarterly results.</p><p><blockquote>Paychex报告季度业绩。</blockquote></p><p> Applied Materials hosts a virtual investor meeting. Company leadership, including CEO Gary Dickerson, will discuss its technology road map and financial targets, among other topics.</p><p><blockquote>应用材料公司举办虚拟投资者会议。包括首席执行官加里·迪克森在内的公司领导层将讨论其技术路线图和财务目标等话题。</blockquote></p><p> <b>The Bureau of Labor</b>&nbsp;Statistics releases the Job Openings and Labor Turnover Survey for February. Consensus estimate is for 6.9 million job openings on the last business day of February, close to the January data.</p><p><blockquote><b>劳工局</b>统计局发布二月份职位空缺和劳动力流动调查。市场普遍估计2月份最后一个工作日有690万个职位空缺，接近1月份的数据。</blockquote></p><p> <b>Wednesday 4/7</b></p><p><blockquote><b>星期三4/7</b></blockquote></p><p> Lamb Weston Holdings releases earnings.</p><p><blockquote>兰姆韦斯顿控股公司发布财报。</blockquote></p><p> <b>The Federal Open Market</b>&nbsp;Committee releases the minutes from its mid-March monetary-policy meeting.</p><p><blockquote><b>联邦公开市场</b>委员会发布三月中旬货币政策会议纪要。</blockquote></p><p> Costco Wholesale&nbsp;reports sales data for March.</p><p><blockquote>Costco Wholesale报告3月份销售数据。</blockquote></p><p> Lumen Technologies, formerly known as CenturyLink, holds an analyst day. Lumen’s President and CEO Jeff Storey, among others, will discuss strategies to grow the company.</p><p><blockquote>Lumen Technologies（前身为CenturyLink）举办分析师日活动。Lumen总裁兼首席执行官Jeff Storey等人将讨论公司发展战略。</blockquote></p><p> Advanced Micro Devices and Xilinx hold special shareholder meetings to seek approval for their proposed merger, first announced in October.AMDhas agreed to buy Xilinx in an all-stock transaction valued at about $35 billion.</p><p><blockquote>Advanced Micro Devices和Xilinx召开特别股东大会，寻求批准其于10月份首次宣布的合并提议。AMD已同意以价值约350亿美元的全股票交易收购Xilinx。</blockquote></p><p> <b>The Federal Reserve</b>&nbsp;reports consumer credit data for February. Total outstanding consumer credit stands at $4.18 trillion, slightly lower than the all-time peak of $4.21 trillion set in February of last year. In 2020, consumer credit remained essentially unchanged, the first year that it didn’t expand since 2008.</p><p><blockquote><b>美联储</b>报告2月份消费者信贷数据。未偿还消费信贷总额为4.18万亿美元，略低于去年2月创下的4.21万亿美元的历史峰值。2020年，消费信贷基本保持不变，这是自2008年以来首次没有扩张。</blockquote></p><p> <b>Thursday 4/8</b></p><p><blockquote><b>星期四4/8</b></blockquote></p><p> Federal Reserve Chairman Jerome Powell and International Monetary Fund Managing Director Kristalina Georgieva discuss the global economy at the 2021 spring meetings of the IMF and World Bank Group.</p><p><blockquote>美联储主席杰罗姆·鲍威尔和国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃在国际货币基金组织和世界银行集团2021年春季会议上讨论全球经济。</blockquote></p><p> Conagra Brands, Constellation Brands, and Levi Strauss report quarterly results.</p><p><blockquote>康尼格拉品牌、星座品牌和李维斯报告季度业绩。</blockquote></p><p> <b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on April 3. The four-week moving average of jobless claims this past week was 719,000, the lowest since March of last year.</p><p><blockquote><b>劳工部</b>报告截至4月3日当周首次申请失业救济人数。过去一周申请失业救济人数的四周移动平均值为71.9万人，为去年3月以来最低。</blockquote></p><p> <b>Friday 4/9</b></p><p><blockquote><b>星期五4/9</b></blockquote></p><p> <b>The BLS reports</b>&nbsp;the producer price index for March. Expectations are for a 0.5% month-over-month rise, matching the February increase.</p><p><blockquote><b>劳工统计局报告</b>3月份生产者价格指数。预计环比增长0.5%，与2月份的增幅相当。</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>T-Mobile, AMD, Levi Strauss, Constellation Brands, and Other Stocks to Watch This Week<blockquote>T-Mobile、AMD、李维斯、Constellation Brands和其他本周值得关注的股票</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\">\nT-Mobile, AMD, Levi Strauss, Constellation Brands, and Other Stocks to Watch This Week<blockquote>T-Mobile、AMD、李维斯、Constellation Brands和其他本周值得关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-05 15:33</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It’s a quiet week on the earnings calendar. The handful of notable companies reporting include Paychex on Tuesday, Lamb Weston Holdings on Wednesday, and Conagra Brands, Constellation Brands, and Levi Strauss all on Thursday.</p><p><blockquote>这是财报日历上平静的一周。少数著名的公司包括周二的Paychex、周三的Lamb Weston Holdings以及周四的Conagra Brands、Constellation Brands和李维斯。</blockquote></p><p> Applied Materials management will speak with Wall Street on Tuesday, while Lumen&nbsp;Technologies and T-Mobile US both host investor events on Wednesday. Also on Wednesday, Advanced Micro Devices and Xilinx shareholders will vote on the chip designers’ proposed&nbsp;merger.</p><p><blockquote>应用材料管理公司将于周二与华尔街进行对话，而Lumen Technologies和T-Mobile US均将于周三举办投资者活动。同样在周三，Advanced Micro Devices和Xilinx的股东将就芯片设计公司的合并提议进行投票。</blockquote></p><p> Central bank and monetary policy watchers will have plenty to tune into: The International Monetary Fund and World Bank hold their virtual 2021 spring meetings this week.&nbsp;Federal Reserve Chairman Jerome Powell and IMF Managing Director Kristalina Georgieva will discuss the global economy at an event on Thursday.</p><p><blockquote>央行和货币政策观察人士将有很多值得关注的内容：国际货币基金组织和世界银行本周将举行虚拟的2021年春季会议。美联储主席杰罗姆·鲍威尔和国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃将在周四的一次活动中讨论全球经济。</blockquote></p><p> The minutes from the Fed’s monetary policy committee’s March meeting will also be released this Wednesday. Economic data out this week include the Institute for Supply Management’s Services Purchasing Managers’ Index for March on Monday and the Bureau of Labor Statistics’&nbsp;producer price index for March on Friday.</p><p><blockquote>美联储货币政策委员会3月会议纪要也将于本周三公布。本周公布的经济数据包括周一供应管理协会3月份服务业采购经理人指数和周五劳工统计局3月份生产者价格指数。</blockquote></p><p> <b>Monday 4/5</b></p><p><blockquote><b>星期一4/5</b></blockquote></p><p> <b>Many stock exchanges</b>&nbsp;across the globe, including those in Germany and the United Kingdom, are closed in observance of Easter.</p><p><blockquote><b>多家证券交易所</b>包括德国和英国在内的全球各地都因复活节而关闭。</blockquote></p><p> <b>The International Monetary</b>&nbsp;Fund and World Bank Group hold their 2021 spring meetings, virtually. The event will run through Sunday, April 11.</p><p><blockquote><b>国际货币</b>基金组织和世界银行集团以虚拟方式举行2021年春季会议。该活动将持续到4月11日周日。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Services Purchasing Managers’ Index for March. Economists forecast a 58.5 reading, higher than February’s 55.3.</p><p><blockquote><b>供应研究所</b>管理层发布三月份服务业采购经理人指数。经济学家预测为58.5，高于2月份的55.3。</blockquote></p><p> <b>Tuesday 4/6</b></p><p><blockquote><b>星期二4/6</b></blockquote></p><p> Paychex reports quarterly results.</p><p><blockquote>Paychex报告季度业绩。</blockquote></p><p> Applied Materials hosts a virtual investor meeting. Company leadership, including CEO Gary Dickerson, will discuss its technology road map and financial targets, among other topics.</p><p><blockquote>应用材料公司举办虚拟投资者会议。包括首席执行官加里·迪克森在内的公司领导层将讨论其技术路线图和财务目标等话题。</blockquote></p><p> <b>The Bureau of Labor</b>&nbsp;Statistics releases the Job Openings and Labor Turnover Survey for February. Consensus estimate is for 6.9 million job openings on the last business day of February, close to the January data.</p><p><blockquote><b>劳工局</b>统计局发布二月份职位空缺和劳动力流动调查。市场普遍估计2月份最后一个工作日有690万个职位空缺，接近1月份的数据。</blockquote></p><p> <b>Wednesday 4/7</b></p><p><blockquote><b>星期三4/7</b></blockquote></p><p> Lamb Weston Holdings releases earnings.</p><p><blockquote>兰姆韦斯顿控股公司发布财报。</blockquote></p><p> <b>The Federal Open Market</b>&nbsp;Committee releases the minutes from its mid-March monetary-policy meeting.</p><p><blockquote><b>联邦公开市场</b>委员会发布三月中旬货币政策会议纪要。</blockquote></p><p> Costco Wholesale&nbsp;reports sales data for March.</p><p><blockquote>Costco Wholesale报告3月份销售数据。</blockquote></p><p> Lumen Technologies, formerly known as CenturyLink, holds an analyst day. Lumen’s President and CEO Jeff Storey, among others, will discuss strategies to grow the company.</p><p><blockquote>Lumen Technologies（前身为CenturyLink）举办分析师日活动。Lumen总裁兼首席执行官Jeff Storey等人将讨论公司发展战略。</blockquote></p><p> Advanced Micro Devices and Xilinx hold special shareholder meetings to seek approval for their proposed merger, first announced in October.AMDhas agreed to buy Xilinx in an all-stock transaction valued at about $35 billion.</p><p><blockquote>Advanced Micro Devices和Xilinx召开特别股东大会，寻求批准其于10月份首次宣布的合并提议。AMD已同意以价值约350亿美元的全股票交易收购Xilinx。</blockquote></p><p> <b>The Federal Reserve</b>&nbsp;reports consumer credit data for February. Total outstanding consumer credit stands at $4.18 trillion, slightly lower than the all-time peak of $4.21 trillion set in February of last year. In 2020, consumer credit remained essentially unchanged, the first year that it didn’t expand since 2008.</p><p><blockquote><b>美联储</b>报告2月份消费者信贷数据。未偿还消费信贷总额为4.18万亿美元，略低于去年2月创下的4.21万亿美元的历史峰值。2020年，消费信贷基本保持不变，这是自2008年以来首次没有扩张。</blockquote></p><p> <b>Thursday 4/8</b></p><p><blockquote><b>星期四4/8</b></blockquote></p><p> Federal Reserve Chairman Jerome Powell and International Monetary Fund Managing Director Kristalina Georgieva discuss the global economy at the 2021 spring meetings of the IMF and World Bank Group.</p><p><blockquote>美联储主席杰罗姆·鲍威尔和国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃在国际货币基金组织和世界银行集团2021年春季会议上讨论全球经济。</blockquote></p><p> Conagra Brands, Constellation Brands, and Levi Strauss report quarterly results.</p><p><blockquote>康尼格拉品牌、星座品牌和李维斯报告季度业绩。</blockquote></p><p> <b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on April 3. The four-week moving average of jobless claims this past week was 719,000, the lowest since March of last year.</p><p><blockquote><b>劳工部</b>报告截至4月3日当周首次申请失业救济人数。过去一周申请失业救济人数的四周移动平均值为71.9万人，为去年3月以来最低。</blockquote></p><p> <b>Friday 4/9</b></p><p><blockquote><b>星期五4/9</b></blockquote></p><p> <b>The BLS reports</b>&nbsp;the producer price index for March. Expectations are for a 0.5% month-over-month rise, matching the February increase.</p><p><blockquote><b>劳工统计局报告</b>3月份生产者价格指数。预计环比增长0.5%，与2月份的增幅相当。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/t-mobile-amd-levi-strauss-constellation-brands-and-other-stocks-for-investors-to-watch-this-week-51617562824?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",".DJI":"道琼斯","TMUSR":"T-Mobile US Inc","AMD":"美国超微公司","STZ":"星座品牌","TMUS":"T-Mobile US Inc",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/t-mobile-amd-levi-strauss-constellation-brands-and-other-stocks-for-investors-to-watch-this-week-51617562824?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143289418","content_text":"It’s a quiet week on the earnings calendar. The handful of notable companies reporting include Paychex on Tuesday, Lamb Weston Holdings on Wednesday, and Conagra Brands, Constellation Brands, and Levi Strauss all on Thursday.\nApplied Materials management will speak with Wall Street on Tuesday, while Lumen Technologies and T-Mobile US both host investor events on Wednesday. Also on Wednesday, Advanced Micro Devices and Xilinx shareholders will vote on the chip designers’ proposed merger.\nCentral bank and monetary policy watchers will have plenty to tune into: The International Monetary Fund and World Bank hold their virtual 2021 spring meetings this week. Federal Reserve Chairman Jerome Powell and IMF Managing Director Kristalina Georgieva will discuss the global economy at an event on Thursday.\nThe minutes from the Fed’s monetary policy committee’s March meeting will also be released this Wednesday. Economic data out this week include the Institute for Supply Management’s Services Purchasing Managers’ Index for March on Monday and the Bureau of Labor Statistics’ producer price index for March on Friday.\nMonday 4/5\nMany stock exchanges across the globe, including those in Germany and the United Kingdom, are closed in observance of Easter.\nThe International Monetary Fund and World Bank Group hold their 2021 spring meetings, virtually. The event will run through Sunday, April 11.\nThe Institute for Supply Management releases its Services Purchasing Managers’ Index for March. Economists forecast a 58.5 reading, higher than February’s 55.3.\nTuesday 4/6\nPaychex reports quarterly results.\nApplied Materials hosts a virtual investor meeting. Company leadership, including CEO Gary Dickerson, will discuss its technology road map and financial targets, among other topics.\nThe Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey for February. Consensus estimate is for 6.9 million job openings on the last business day of February, close to the January data.\nWednesday 4/7\nLamb Weston Holdings releases earnings.\nThe Federal Open Market Committee releases the minutes from its mid-March monetary-policy meeting.\nCostco Wholesale reports sales data for March.\nLumen Technologies, formerly known as CenturyLink, holds an analyst day. Lumen’s President and CEO Jeff Storey, among others, will discuss strategies to grow the company.\nAdvanced Micro Devices and Xilinx hold special shareholder meetings to seek approval for their proposed merger, first announced in October.AMDhas agreed to buy Xilinx in an all-stock transaction valued at about $35 billion.\nThe Federal Reserve reports consumer credit data for February. Total outstanding consumer credit stands at $4.18 trillion, slightly lower than the all-time peak of $4.21 trillion set in February of last year. In 2020, consumer credit remained essentially unchanged, the first year that it didn’t expand since 2008.\nThursday 4/8\nFederal Reserve Chairman Jerome Powell and International Monetary Fund Managing Director Kristalina Georgieva discuss the global economy at the 2021 spring meetings of the IMF and World Bank Group.\nConagra Brands, Constellation Brands, and Levi Strauss report quarterly results.\nThe Department of Labor reports initial jobless claims for the week ending on April 3. The four-week moving average of jobless claims this past week was 719,000, the lowest since March of last year.\nFriday 4/9\nThe BLS reports the producer price index for March. Expectations are for a 0.5% month-over-month rise, matching the February increase.","news_type":1,"symbols_score_info":{"AMD":0.9,".DJI":0.9,"TMUSR":0.9,".SPX":0.9,"TMUS":0.9,"STZ":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361998701,"gmtCreate":1614183218503,"gmtModify":1634550810822,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/361998701","repostId":"1138795890","repostType":4,"isVote":1,"tweetType":1,"viewCount":623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314426774,"gmtCreate":1612368077798,"gmtModify":1703761034583,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/314426774","repostId":"2108876804","repostType":4,"isVote":1,"tweetType":1,"viewCount":475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":868770776,"gmtCreate":1632708196295,"gmtModify":1632798407776,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868770776","repostId":"2170865614","repostType":4,"isVote":1,"tweetType":1,"viewCount":1817,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":348775888,"gmtCreate":1617969710544,"gmtModify":1634295466396,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Omg rip","listText":"Omg rip","text":"Omg rip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348775888","repostId":"1144618735","repostType":4,"isVote":1,"tweetType":1,"viewCount":1375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328955082,"gmtCreate":1615481797246,"gmtModify":1703489841803,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328955082","repostId":"1119544264","repostType":4,"isVote":1,"tweetType":1,"viewCount":468,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":329821575,"gmtCreate":1615222346197,"gmtModify":1703485980856,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/329821575","repostId":"1199173220","repostType":4,"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361998244,"gmtCreate":1614183205788,"gmtModify":1634550811062,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Gd gd","listText":"Gd gd","text":"Gd gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/361998244","repostId":"1138795890","repostType":4,"isVote":1,"tweetType":1,"viewCount":490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":388329297,"gmtCreate":1613026070019,"gmtModify":1703768499197,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/388329297","repostId":"2110041062","repostType":4,"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":388329187,"gmtCreate":1613026042749,"gmtModify":1703768499027,"author":{"id":"3574938001875818","authorId":"3574938001875818","name":"HQZ","avatar":"https://static.tigerbbs.com/d3d21401fb4a33de65c66f849f195d02","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574938001875818","authorIdStr":"3574938001875818"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/388329187","repostId":"2110044852","repostType":4,"isVote":1,"tweetType":1,"viewCount":372,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}