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2021-04-28

Yea

Analysts like Spotify's price hikes, though user growth may pay the cost<blockquote>分析师喜欢 Spotify 的涨价，但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>知乎科技首日交易下跌</blockquote>

2021-04-12

Merge merge merge

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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 和本周值得关注的其他股票</blockquote>

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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 公司的 COVID-19 疫苗的首批数据表明，第三剂加强针将对奥密克戎病毒有效，这种病毒正在迅速席卷全球。</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的中和抗体数量是相同数量只接受两次注射的人的血液的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>一组接受了第三次更高剂量的100微克剂量，中和奥密克戎病毒抗体的数量增加了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":3689,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","htmlText":"Lol nice 1","listText":"Lol nice 1","text":"Lol nice 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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 的涨价，但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>昨天，Spotify (SPOT-1.3%) 价格上涨的消息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>乐观的罗森布拉特对增长持积极态度。报告称，它们“只是未来 24 个月新增加收入计划的开始”。该公司的目标价为 425 美元，意味着上涨空间为 44%。</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>Jefferies 认为价格上涨是积极的，因为它们巩固了 Spotify 作为平台而不仅仅是流媒体服务的身份（意味着更粘性的客户和更大的定价权）。但考虑到苹果最近进军播客领域，要求密切关注流失，价格变动尤其有趣。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权，但它可能意味着用户增长受到打击：“我们怀疑管理层正在考虑一个低于正常季度的净用户增加。”</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>该公司将于明天开盘前公布财报；普遍估计每股收益为 -0.51 美元，收入为 $2.6B。</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 的涨价，但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 的涨价，但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>昨天，Spotify (SPOT-1.3%) 价格上涨的消息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>乐观的罗森布拉特对增长持积极态度。报告称，它们“只是未来 24 个月新增加收入计划的开始”。该公司的目标价为 425 美元，意味着上涨空间为 44%。</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>Jefferies 认为价格上涨是积极的，因为它们巩固了 Spotify 作为平台而不仅仅是流媒体服务的身份（意味着更粘性的客户和更大的定价权）。但考虑到苹果最近进军播客领域，要求密切关注流失，价格变动尤其有趣。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权，但它可能意味着用户增长受到打击：“我们怀疑管理层正在考虑一个低于正常季度的净用户增加。”</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>该公司将于明天开盘前公布财报；普遍估计每股收益为 -0.51 美元，收入为 $2.6B。</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":3620,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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>UPS (UPS+10.2%) 发布强劲财报后，许多货运、物流和卡车运输股票正在走高。</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>早盘交易中值得注意的涨幅包括 XPO Logistics (XPO+3.2%)、Air T (AIRT+1.7%)、Covenant Logistics Group (CVLG+10.5%)、Yellow Corporation (YELL+6.0%)、J.B.亨特运输（JBHT+1.1%）、美国卡车（USAK+4.0%）、美国快递企业（USX+4.0%）、ArcBest（ARCB+2.1%）和钢铁连接（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>盈利井喷后，UPS 的交易价格距离历史上首次突破 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>伯恩斯坦分析师大卫·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，因为国内领域的运营杠杆（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>UPS (UPS+10.2%) 发布强劲财报后，许多货运、物流和卡车运输股票正在走高。</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>早盘交易中值得注意的涨幅包括 XPO Logistics (XPO+3.2%)、Air T (AIRT+1.7%)、Covenant Logistics Group (CVLG+10.5%)、Yellow Corporation (YELL+6.0%)、J.B.亨特运输（JBHT+1.1%）、美国卡车（USAK+4.0%）、美国快递企业（USX+4.0%）、ArcBest（ARCB+2.1%）和钢铁连接（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>盈利井喷后，UPS 的交易价格距离历史上首次突破 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>伯恩斯坦分析师大卫·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，因为国内领域的运营杠杆（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":2781,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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>由于业绩未达共识，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，环比增长 6.4%，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>调整后的大麻毛利率为 39.2%，而上一季度为 45.9%。</li><li>2021 年第三季度，APHA 未达到非 GAAP/GAAP 每股收益预测。该公司报告非 GAAP 每股亏损为 0.15 美元/股，GAAP 每股亏损为 1.14 美元/股。</li><li>销量：18,695公斤，与2021年第二季度的26,730公斤相比下降了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>与上一季度相比，第三季度调整后 EBITDA 小幅上升至 1270 万美元；大麻业务的调整后 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，该公司与 Tilray 达成合并协议。</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 也参与了本周的 Seeking Alpha Catalyst 观察，该公司将于 4 月 16 日召开特别会议，就与 Tilray 的合并提案进行投票。</blockquote></p><p> Other pot stocks down this morning include: Tilray&nbsp;-10.93%, Aurora Cannabis&nbsp;-6.08%.</p><p><blockquote>今天上午其他下跌的大麻股票包括：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>由于业绩未达共识，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>由于业绩未达共识，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. $3.4M in FQ2 2021.</li> </ul> Conference call is set for 9 ET.</p><p><blockquote><ul><li>净收入为 1.536 亿美元，环比增长 6.4%，下降 4.3%，低于分析师预期的 1.633 亿美元。</li><li>大麻净收入为 5170 万美元，比 2020 年第三季度下降 7.8%，比上一季度下降 23.8%。</li><li>成人用大麻总收入为5960万美元，同比增长33.4%，环比下降17.3%。</li><li>第三季度收入受到加拿大主要省份和德国封锁的影响。</li><li>调整后的大麻毛利率为 39.2%，而上一季度为 45.9%。</li><li>2021 年第三季度，APHA 未达到非 GAAP/GAAP 每股收益预测。该公司报告非 GAAP 每股亏损为 0.15 美元/股，GAAP 每股亏损为 1.14 美元/股。</li><li>销量：18,695公斤，与2021年第二季度的26,730公斤相比下降了30.1%。</li><li>生产每克干大麻的现金成本为0.90美元，环比增长13.9%。</li><li>与上一季度相比，第三季度调整后 EBITDA 小幅上升至 1270 万美元；大麻业务的调整后 EBITDA 降至 790 万美元，而 2021 年第二季度为 1290 万美元。</li><li>经营活动提供的现金为 120 万美元，而 2021 年第二季度为 340 万美元。</li></ul>电话会议定于东部时间9点。</blockquote></p><p> Also, during FQ3, the company reached agreementto combine with Tilray.</p><p><blockquote>此外，在第三季度，该公司与 Tilray 达成合并协议。</blockquote></p><p> Aphria is also in this week's Seeking Alpha Catalyst Watch as the company hosts a special meeting onApril 16 to vote on the proposed merger with Tilray.</p><p><blockquote>Aphria 也参与了本周的 Seeking Alpha Catalyst 观察，该公司将于 4 月 16 日召开特别会议，就与 Tilray 的合并提案进行投票。</blockquote></p><p> Other pot stocks down this morning include: Tilray&nbsp;-10.93%, Aurora Cannabis&nbsp;-6.08%.</p><p><blockquote>今天上午其他下跌的大麻股票包括：Tilray -10.93%，Aurora Cannabis -6.08%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2ab29a6387a83442f1218efc066acfb7\" tg-width=\"288\" tg-height=\"116\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"APHA":"Aphria Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132530538","content_text":"(April 12) Aphria shares plummet 9% premarket after fiscal Q3 2021 results misses consensus. (All figures are in C$).\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":2756,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":2725,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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 和本周值得关注的其他股票</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。少数几家知名公司包括周二的 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 的股东将对芯片设计商的合并提案进行投票。</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家将有很多事情需要关注：国际货币基金组织和世界银行本周将举行2021年春季虚拟会议。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月份会议纪要也将于本周三公布。本周公布的经济数据包括美国供应管理协会（Institute for Supply Management）周一公布的 3 月份服务采购经理人指数和美国劳工统计局（Bureau of Labor Statistics）周五公布的 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>许多证券交易所</b>世界各地，包括德国和英国，都是为了庆祝复活节而关闭的。</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 3 月份服务采购经理指数。经济学家预测读数为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>统计局发布了2月份的职位空缺和劳动力流动调查。普遍估计2月份最后一个工作日将有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收益。</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>委员会发布了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>好市多批发报告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（原名 CenturyLink）举办分析师日。Lumen 总裁兼首席执行官杰夫-斯托里（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，寻求批准其拟议的合并，该合并于 10 月份首次宣布。 AMDhas 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>报告二月份的消费信贷数据。未偿消费信贷总额为 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 日当周的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月以来的最低水平。</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>BLS报告</b>3月份生产者价格指数。预计环比上涨 0.5%，与 2 月份的涨幅持平。</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 和本周值得关注的其他股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nT-Mobile, AMD, Levi Strauss, Constellation Brands, and Other Stocks to Watch This Week<blockquote>T-Mobile、AMD、李维斯、Constellation Brands 和本周值得关注的其他股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-05 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。少数几家知名公司包括周二的 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 的股东将对芯片设计商的合并提案进行投票。</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家将有很多事情需要关注：国际货币基金组织和世界银行本周将举行2021年春季虚拟会议。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月份会议纪要也将于本周三公布。本周公布的经济数据包括美国供应管理协会（Institute for Supply Management）周一公布的 3 月份服务采购经理人指数和美国劳工统计局（Bureau of Labor Statistics）周五公布的 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>许多证券交易所</b>世界各地，包括德国和英国，都是为了庆祝复活节而关闭的。</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 3 月份服务采购经理指数。经济学家预测读数为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>统计局发布了2月份的职位空缺和劳动力流动调查。普遍估计2月份最后一个工作日将有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收益。</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>委员会发布了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>好市多批发报告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（原名 CenturyLink）举办分析师日。Lumen 总裁兼首席执行官杰夫-斯托里（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，寻求批准其拟议的合并，该合并于 10 月份首次宣布。 AMDhas 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>报告二月份的消费信贷数据。未偿消费信贷总额为 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 日当周的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月以来的最低水平。</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>BLS报告</b>3月份生产者价格指数。预计环比上涨 0.5%，与 2 月份的涨幅持平。</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":{"TMUS":"T-Mobile US Inc",".SPX":"S&P 500 Index","AMD":"美国超微公司",".DJI":"道琼斯","STZ":"星座品牌","TMUSR":"T-Mobile US Inc",".IXIC":"NASDAQ Composite"},"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":{".DJI":0.9,"AMD":0.9,"TMUS":0.9,".SPX":0.9,"STZ":0.9,"TMUSR":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2960,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":783,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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>知乎科技首日交易下跌</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，比公司 9.5 美元的 IPO 价格低约 15.6%。知乎的 IPO 价格处于区间的低端，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>知乎公司周五公布了首次公开募股的定价，为每股美国存托股9.50美元，处于预期范围的低端。这家总部位于中国的在线内容公司在IPO中提供了5500万份广告，筹集了5.225亿美元，而定价对该公司的估值约为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>知乎有一个类似于Quora的商业模式，数百万人提出问题，交流他们的观点和经验。知乎已经成为中国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>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。我们预计广告占收入的百分比将在未来五年逐渐下降，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。我们估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年增加到31.5%，在2025年增加到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>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币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，满足他们所有的销售和营销需求，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，公司毛利率由2019年的46.6%提升至2020年的56.0%。我们假设毛利率将进一步提高至2021年的57.4%和2025年的62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用及营业利润率</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>总营运开支占收入的百分比由二零一九年的204.4%大幅下降至二零二零年的100.6%。我们预计这一比率将在2021年进一步提高至79%，2022年达到69.2%，2025年达到57.2%。运营费用的大部分改善来自于未来五年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>截至2020年底，知乎累计拥有超过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7570万，同比增长33%。该公司的主要优势之一是它被公认为最值得信赖的在线内容社区之一，并被认为提供中国最高质量的内容之一。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，知乎从百度和快手科技等领先投资者那里获得了4.34亿美元的资金，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，这意味着市盈率为36倍。如果我们将相同的市盈率应用于该公司 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>知乎最初开发于2010年，是一个问答在线社区。截至2020年底，共有3.15亿次问答，涵盖1000多个垂直领域和57.1万个主题。就2020年的平均移动MAU和收入而言，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源拥有该公司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>主要人口统计</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。男性占用户总数的56.9%。30岁以下的人占其总用户群的78.7%。一线及新一线城市占总用户基数的52.6%。知乎的很多用户都是学生和白领职场人士。</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>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。本公司的广告收入主要由其每月活跃用户及每月活跃用户的广告收入推动。2020年，该公司的MAU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年推出付费内容。</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，平均每月会员人数同比增长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，该公司推出了Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了无限制访问约340万个付费内容的机会，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，因为它展示了高质量的数据和内容如何产生大量的收入，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>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币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，满足他们所有的销售和营销需求，包括营销计划、将最相关的内容创作者分配给感兴趣的用户以及促进内容创作。</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是未来几年增长最快的行业之一。根据灼识谘询，预计2019年至2025年，中国内容商务解决方案市场将实现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>在线内容社区是指以UGC（用户生成内容）为中心的（包括PUGC（专业用户生成内容）为中心的在线内容市场参与者，其中内容创建者也是用户，他们在社区内积极参与。与PGC（专业生成内容）玩家相比，内容社区通常可以刺激更高水平的用户参与、更多交互式的用户体验，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二零一五年的386亿元人民币增长至二零一九年的2758亿元人民币，预计二零二五年将进一步增长至1.3万亿元人民币，二零一九年至二零二五年的复合年增长率为30.3%，高于整体在线内容市场的增长。</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、内容电子商务、内容商务解决方案、直播中的虚拟礼物、网络游戏和在线教育服务。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>该公司的主要积极因素之一是越来越多的中国消费者愿意为更高质量的内容付费。2019 年至 2025 年间，中国在线内容社区的付费用户数量预计将以 17.1% 的复合年增长率增长，这意味着到 2025 年，在线内容社区的付费用户数量将增加 3.604 亿，达到 5.882 亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国网络内容市场</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>中国在线内容市场从2015年增长了两倍，到2019年达到1.2万亿元人民币。该市场预计将于2025年增长至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>2015-2025年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>2015-2025年中国在线内容社区市场规模（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>2015-2025年中国付费会员市场规模（按收入计）</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。该公司提供集成的内容商务解决方案，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，到分发给感兴趣的用户。中国内容商务解决方案市场预计将从2019年的114亿元人民币增长至2025年的1123亿元人民币，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>中国内容商务解决方案市场规模（按收入计），2015-2025E</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>知乎科技首日交易下跌</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>知乎科技首日交易下跌</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，比公司 9.5 美元的 IPO 价格低约 15.6%。知乎的 IPO 价格处于区间的低端，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>知乎公司周五公布了首次公开募股的定价，为每股美国存托股9.50美元，处于预期范围的低端。这家总部位于中国的在线内容公司在IPO中提供了5500万份广告，筹集了5.225亿美元，而定价对该公司的估值约为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>知乎有一个类似于Quora的商业模式，数百万人提出问题，交流他们的观点和经验。知乎已经成为中国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>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。我们预计广告占收入的百分比将在未来五年逐渐下降，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。我们估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年增加到31.5%，在2025年增加到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>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币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，满足他们所有的销售和营销需求，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，公司毛利率由2019年的46.6%提升至2020年的56.0%。我们假设毛利率将进一步提高至2021年的57.4%和2025年的62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用及营业利润率</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>总营运开支占收入的百分比由二零一九年的204.4%大幅下降至二零二零年的100.6%。我们预计这一比率将在2021年进一步提高至79%，2022年达到69.2%，2025年达到57.2%。运营费用的大部分改善来自于未来五年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>截至2020年底，知乎累计拥有超过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7570万，同比增长33%。该公司的主要优势之一是它被公认为最值得信赖的在线内容社区之一，并被认为提供中国最高质量的内容之一。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，知乎从百度和快手科技等领先投资者那里获得了4.34亿美元的资金，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，这意味着市盈率为36倍。如果我们将相同的市盈率应用于该公司 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>知乎最初开发于2010年，是一个问答在线社区。截至2020年底，共有3.15亿次问答，涵盖1000多个垂直领域和57.1万个主题。就2020年的平均移动MAU和收入而言，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源拥有该公司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>主要人口统计</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。男性占用户总数的56.9%。30岁以下的人占其总用户群的78.7%。一线及新一线城市占总用户基数的52.6%。知乎的很多用户都是学生和白领职场人士。</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>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。本公司的广告收入主要由其每月活跃用户及每月活跃用户的广告收入推动。2020年，该公司的MAU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年推出付费内容。</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，平均每月会员人数同比增长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，该公司推出了Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了无限制访问约340万个付费内容的机会，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，因为它展示了高质量的数据和内容如何产生大量的收入，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>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币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，满足他们所有的销售和营销需求，包括营销计划、将最相关的内容创作者分配给感兴趣的用户以及促进内容创作。</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是未来几年增长最快的行业之一。根据灼识谘询，预计2019年至2025年，中国内容商务解决方案市场将实现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>在线内容社区是指以UGC（用户生成内容）为中心的（包括PUGC（专业用户生成内容）为中心的在线内容市场参与者，其中内容创建者也是用户，他们在社区内积极参与。与PGC（专业生成内容）玩家相比，内容社区通常可以刺激更高水平的用户参与、更多交互式的用户体验，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二零一五年的386亿元人民币增长至二零一九年的2758亿元人民币，预计二零二五年将进一步增长至1.3万亿元人民币，二零一九年至二零二五年的复合年增长率为30.3%，高于整体在线内容市场的增长。</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、内容电子商务、内容商务解决方案、直播中的虚拟礼物、网络游戏和在线教育服务。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>该公司的主要积极因素之一是越来越多的中国消费者愿意为更高质量的内容付费。2019 年至 2025 年间，中国在线内容社区的付费用户数量预计将以 17.1% 的复合年增长率增长，这意味着到 2025 年，在线内容社区的付费用户数量将增加 3.604 亿，达到 5.882 亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国网络内容市场</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>中国在线内容市场从2015年增长了两倍，到2019年达到1.2万亿元人民币。该市场预计将于2025年增长至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>2015-2025年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>2015-2025年中国在线内容社区市场规模（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>2015-2025年中国付费会员市场规模（按收入计）</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。该公司提供集成的内容商务解决方案，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，到分发给感兴趣的用户。中国内容商务解决方案市场预计将从2019年的114亿元人民币增长至2025年的1123亿元人民币，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>中国内容商务解决方案市场规模（按收入计），2015-2025E</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":594,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":704,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":827,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":901,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":765,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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已经结束了</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。Lucid 的 SPAC 和 ARK Invest 的 ETF 都带有 20 世纪 90 年代末科技泡沫的味道。</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>丘吉尔资本公司 (Churchill Capital Corp.) 是一家特殊目的收购公司 (SPAC)，曾传言将与特斯拉的崇拜者 Lucid Motors 合并，该公司终于在周一晚上宣布确实会这样做。在华尔街的典型反应中，市场在 “买入谣言 ”许久之后 “卖出了新闻”。</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 自作为空白支票公司上市以来上涨了 500%，如今股市已经抹去了周一中午市值的一半。本月早些时候，我曾对这只股票发出警告，认为它是众多应该避免的 “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 的个人和机构突然看到了价值的巨大缩水。</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>也许他们现在正在环顾四周，看看他们的其他 RNG SPAC，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，你可能会注意到，特斯拉公司（Microsoft Inc.</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 TSLA 电动汽车股票的表现将会很有趣。我预计大多数人的价格会比今天的报价低得多，而今天的报价也比上周的报价低得多。</blockquote></p><p> <b>Piling into ARK</b></p><p><blockquote><b>打桩成方舟</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。她很早就看好特斯拉和比特币BTCUSD，6.03%，以及我和我的长期追随者比她更早进入的其他一些主题。她积极管理的ETF，方舟创新ETF是最著名的，表现非常好，她的评论已经准确了几年。</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。尽管我是凯西的粉丝，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，自从我于 2001 年为 TheStreet.com 撰写这篇文章以来，几十年来我一直与他成为朋友。(我刚意识到这篇文章是在 9/11 事件发生后两周才发表的）：</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几条规则： 现金为王，因为现金流越来越难以持续判断。因此，只需看一眼一家公司的资产负债表，就能告诉你很多关于它是否值得投资的信息。现在，电信股每天的大幅上涨已经一去不复返了，任何生存能力存疑的企业的潜在回报都不值得你冒资本的风险。在账面上寻找实际收入。正如科技大师乔治-吉尔德（George Gilder）和他的追随者们所了解到的那样（至少，我希望他们现在已经了解到了），伟大的技术不会转化为伟大的投资。公司需要销售渠道，他们需要有即时用途的产品。你可能会惊讶于我在清单中没有提到盈利能力。盈利能力自然很重要，但即使是像思科这样的公司，本季度甚至可能还要几个季度才能盈利，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： 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中是这样。这也是为什么这些不断鼓吹坚持到底的科技共同基金人士需要很长时间才能收支平衡的另一个原因。</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像 20 世纪 90 年代末那样获得回报。我认为电动汽车股票和凯西·伍德 (Cathie Wood) 和她的盲目追随者如今正在大力投资的许多其他最受欢迎的股票也是如此，因为他们无论估值如何都将资金投入工作。</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>“现在回想起来，我显然应该委婉地说，'嘿，JDS Uniphase 的事情已经失控了，你为此付出的代价不值得'，”他说。每个月，他都会考虑向他的订户提供一个警告，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 ”：在他将该公司列入名单后，一只股票的大幅飙升。股票价格在通讯发布后一小时内飙升 50% 以上的情况并非闻所未闻。如果我说'嘿，这是一件上衣，你们都应该卖掉'，那将是一场灾难性的事件，”他说。“我会考虑告诉人们应该卖掉一半的股份，每次我的结论都是，我的订户会被激怒。我还想知道，如果我这样做了，我会引发什么后果”。在吉尔德现在评级的市场 “歇斯底里的高峰期 ”，他的读者中有整整 50% 的人订阅了这份报告。“他说：”我的一半用户会永远感激[警告]，但另一半用户--新用户--会因为他们刚刚进来而被激怒。“太可怕了。我真的不知道该怎么办。”最后他什么也没做。很快，他就有了一套全新的烦恼。“吉尔德说：”过去，我们的投资者会议会在两周内售罄。“但在 2001 年，我们发出了同样的资料和同样的邀请，有五七个人报名参加了。”他失去了为聚会预订酒店房间的押金。时事通讯续订率直线下降。巨额税单到期了。到 2002 年春天，他已经解雇了近一半的员工。“他说：”前一刻你还非常富有，下一刻你就无法向合伙人支付最后一百万美元，突然之间你的房子就有了留置权。</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 年乔治榜单上的许多最佳股票最终下跌了 99% 或更多。许多人归零了，尽管他们的技术和想法延续并建立了我们现在每天使用的互联网。</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已经结束了</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已经结束了</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。Lucid 的 SPAC 和 ARK Invest 的 ETF 都带有 20 世纪 90 年代末科技泡沫的味道。</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>丘吉尔资本公司 (Churchill Capital Corp.) 是一家特殊目的收购公司 (SPAC)，曾传言将与特斯拉的崇拜者 Lucid Motors 合并，该公司终于在周一晚上宣布确实会这样做。在华尔街的典型反应中，市场在 “买入谣言 ”许久之后 “卖出了新闻”。</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 自作为空白支票公司上市以来上涨了 500%，如今股市已经抹去了周一中午市值的一半。本月早些时候，我曾对这只股票发出警告，认为它是众多应该避免的 “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 的个人和机构突然看到了价值的巨大缩水。</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>也许他们现在正在环顾四周，看看他们的其他 RNG SPAC，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，你可能会注意到，特斯拉公司（Microsoft Inc.</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 TSLA 电动汽车股票的表现将会很有趣。我预计大多数人的价格会比今天的报价低得多，而今天的报价也比上周的报价低得多。</blockquote></p><p> <b>Piling into ARK</b></p><p><blockquote><b>打桩成方舟</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。她很早就看好特斯拉和比特币BTCUSD，6.03%，以及我和我的长期追随者比她更早进入的其他一些主题。她积极管理的ETF，方舟创新ETF是最著名的，表现非常好，她的评论已经准确了几年。</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。尽管我是凯西的粉丝，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，自从我于 2001 年为 TheStreet.com 撰写这篇文章以来，几十年来我一直与他成为朋友。(我刚意识到这篇文章是在 9/11 事件发生后两周才发表的）：</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几条规则： 现金为王，因为现金流越来越难以持续判断。因此，只需看一眼一家公司的资产负债表，就能告诉你很多关于它是否值得投资的信息。现在，电信股每天的大幅上涨已经一去不复返了，任何生存能力存疑的企业的潜在回报都不值得你冒资本的风险。在账面上寻找实际收入。正如科技大师乔治-吉尔德（George Gilder）和他的追随者们所了解到的那样（至少，我希望他们现在已经了解到了），伟大的技术不会转化为伟大的投资。公司需要销售渠道，他们需要有即时用途的产品。你可能会惊讶于我在清单中没有提到盈利能力。盈利能力自然很重要，但即使是像思科这样的公司，本季度甚至可能还要几个季度才能盈利，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： 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中是这样。这也是为什么这些不断鼓吹坚持到底的科技共同基金人士需要很长时间才能收支平衡的另一个原因。</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像 20 世纪 90 年代末那样获得回报。我认为电动汽车股票和凯西·伍德 (Cathie Wood) 和她的盲目追随者如今正在大力投资的许多其他最受欢迎的股票也是如此，因为他们无论估值如何都将资金投入工作。</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>“现在回想起来，我显然应该委婉地说，'嘿，JDS Uniphase 的事情已经失控了，你为此付出的代价不值得'，”他说。每个月，他都会考虑向他的订户提供一个警告，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 ”：在他将该公司列入名单后，一只股票的大幅飙升。股票价格在通讯发布后一小时内飙升 50% 以上的情况并非闻所未闻。如果我说'嘿，这是一件上衣，你们都应该卖掉'，那将是一场灾难性的事件，”他说。“我会考虑告诉人们应该卖掉一半的股份，每次我的结论都是，我的订户会被激怒。我还想知道，如果我这样做了，我会引发什么后果”。在吉尔德现在评级的市场 “歇斯底里的高峰期 ”，他的读者中有整整 50% 的人订阅了这份报告。“他说：”我的一半用户会永远感激[警告]，但另一半用户--新用户--会因为他们刚刚进来而被激怒。“太可怕了。我真的不知道该怎么办。”最后他什么也没做。很快，他就有了一套全新的烦恼。“吉尔德说：”过去，我们的投资者会议会在两周内售罄。“但在 2001 年，我们发出了同样的资料和同样的邀请，有五七个人报名参加了。”他失去了为聚会预订酒店房间的押金。时事通讯续订率直线下降。巨额税单到期了。到 2002 年春天，他已经解雇了近一半的员工。“他说：”前一刻你还非常富有，下一刻你就无法向合伙人支付最后一百万美元，突然之间你的房子就有了留置权。</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 年乔治榜单上的许多最佳股票最终下跌了 99% 或更多。许多人归零了，尽管他们的技术和想法延续并建立了我们现在每天使用的互联网。</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":{".SPX":"S&P 500 Index",".DJI":"道琼斯","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":{".IXIC":0.9,".DJI":0.9,"ARKK":0.9,".SPX":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":979,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":972,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":770,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":862,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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 的涨价，但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>昨天，Spotify (SPOT-1.3%) 价格上涨的消息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>乐观的罗森布拉特对增长持积极态度。报告称，它们“只是未来 24 个月新增加收入计划的开始”。该公司的目标价为 425 美元，意味着上涨空间为 44%。</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>Jefferies 认为价格上涨是积极的，因为它们巩固了 Spotify 作为平台而不仅仅是流媒体服务的身份（意味着更粘性的客户和更大的定价权）。但考虑到苹果最近进军播客领域，要求密切关注流失，价格变动尤其有趣。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权，但它可能意味着用户增长受到打击：“我们怀疑管理层正在考虑一个低于正常季度的净用户增加。”</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>该公司将于明天开盘前公布财报；普遍估计每股收益为 -0.51 美元，收入为 $2.6B。</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 的涨价，但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 的涨价，但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>昨天，Spotify (SPOT-1.3%) 价格上涨的消息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>乐观的罗森布拉特对增长持积极态度。报告称，它们“只是未来 24 个月新增加收入计划的开始”。该公司的目标价为 425 美元，意味着上涨空间为 44%。</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>Jefferies 认为价格上涨是积极的，因为它们巩固了 Spotify 作为平台而不仅仅是流媒体服务的身份（意味着更粘性的客户和更大的定价权）。但考虑到苹果最近进军播客领域，要求密切关注流失，价格变动尤其有趣。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权，但它可能意味着用户增长受到打击：“我们怀疑管理层正在考虑一个低于正常季度的净用户增加。”</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>该公司将于明天开盘前公布财报；普遍估计每股收益为 -0.51 美元，收入为 $2.6B。</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":3620,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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>知乎科技首日交易下跌</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，比公司 9.5 美元的 IPO 价格低约 15.6%。知乎的 IPO 价格处于区间的低端，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>知乎公司周五公布了首次公开募股的定价，为每股美国存托股9.50美元，处于预期范围的低端。这家总部位于中国的在线内容公司在IPO中提供了5500万份广告，筹集了5.225亿美元，而定价对该公司的估值约为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>知乎有一个类似于Quora的商业模式，数百万人提出问题，交流他们的观点和经验。知乎已经成为中国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>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。我们预计广告占收入的百分比将在未来五年逐渐下降，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。我们估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年增加到31.5%，在2025年增加到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>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币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，满足他们所有的销售和营销需求，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，公司毛利率由2019年的46.6%提升至2020年的56.0%。我们假设毛利率将进一步提高至2021年的57.4%和2025年的62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用及营业利润率</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>总营运开支占收入的百分比由二零一九年的204.4%大幅下降至二零二零年的100.6%。我们预计这一比率将在2021年进一步提高至79%，2022年达到69.2%，2025年达到57.2%。运营费用的大部分改善来自于未来五年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>截至2020年底，知乎累计拥有超过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7570万，同比增长33%。该公司的主要优势之一是它被公认为最值得信赖的在线内容社区之一，并被认为提供中国最高质量的内容之一。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，知乎从百度和快手科技等领先投资者那里获得了4.34亿美元的资金，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，这意味着市盈率为36倍。如果我们将相同的市盈率应用于该公司 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>知乎最初开发于2010年，是一个问答在线社区。截至2020年底，共有3.15亿次问答，涵盖1000多个垂直领域和57.1万个主题。就2020年的平均移动MAU和收入而言，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源拥有该公司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>主要人口统计</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。男性占用户总数的56.9%。30岁以下的人占其总用户群的78.7%。一线及新一线城市占总用户基数的52.6%。知乎的很多用户都是学生和白领职场人士。</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>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。本公司的广告收入主要由其每月活跃用户及每月活跃用户的广告收入推动。2020年，该公司的MAU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年推出付费内容。</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，平均每月会员人数同比增长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，该公司推出了Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了无限制访问约340万个付费内容的机会，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，因为它展示了高质量的数据和内容如何产生大量的收入，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>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币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，满足他们所有的销售和营销需求，包括营销计划、将最相关的内容创作者分配给感兴趣的用户以及促进内容创作。</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是未来几年增长最快的行业之一。根据灼识谘询，预计2019年至2025年，中国内容商务解决方案市场将实现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>在线内容社区是指以UGC（用户生成内容）为中心的（包括PUGC（专业用户生成内容）为中心的在线内容市场参与者，其中内容创建者也是用户，他们在社区内积极参与。与PGC（专业生成内容）玩家相比，内容社区通常可以刺激更高水平的用户参与、更多交互式的用户体验，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二零一五年的386亿元人民币增长至二零一九年的2758亿元人民币，预计二零二五年将进一步增长至1.3万亿元人民币，二零一九年至二零二五年的复合年增长率为30.3%，高于整体在线内容市场的增长。</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、内容电子商务、内容商务解决方案、直播中的虚拟礼物、网络游戏和在线教育服务。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>该公司的主要积极因素之一是越来越多的中国消费者愿意为更高质量的内容付费。2019 年至 2025 年间，中国在线内容社区的付费用户数量预计将以 17.1% 的复合年增长率增长，这意味着到 2025 年，在线内容社区的付费用户数量将增加 3.604 亿，达到 5.882 亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国网络内容市场</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>中国在线内容市场从2015年增长了两倍，到2019年达到1.2万亿元人民币。该市场预计将于2025年增长至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>2015-2025年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>2015-2025年中国在线内容社区市场规模（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>2015-2025年中国付费会员市场规模（按收入计）</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。该公司提供集成的内容商务解决方案，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，到分发给感兴趣的用户。中国内容商务解决方案市场预计将从2019年的114亿元人民币增长至2025年的1123亿元人民币，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>中国内容商务解决方案市场规模（按收入计），2015-2025E</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>知乎科技首日交易下跌</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>知乎科技首日交易下跌</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，比公司 9.5 美元的 IPO 价格低约 15.6%。知乎的 IPO 价格处于区间的低端，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>知乎公司周五公布了首次公开募股的定价，为每股美国存托股9.50美元，处于预期范围的低端。这家总部位于中国的在线内容公司在IPO中提供了5500万份广告，筹集了5.225亿美元，而定价对该公司的估值约为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>知乎有一个类似于Quora的商业模式，数百万人提出问题，交流他们的观点和经验。知乎已经成为中国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>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。我们预计广告占收入的百分比将在未来五年逐渐下降，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。我们估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年增加到31.5%，在2025年增加到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>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币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，满足他们所有的销售和营销需求，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，公司毛利率由2019年的46.6%提升至2020年的56.0%。我们假设毛利率将进一步提高至2021年的57.4%和2025年的62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用及营业利润率</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>总营运开支占收入的百分比由二零一九年的204.4%大幅下降至二零二零年的100.6%。我们预计这一比率将在2021年进一步提高至79%，2022年达到69.2%，2025年达到57.2%。运营费用的大部分改善来自于未来五年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>截至2020年底，知乎累计拥有超过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7570万，同比增长33%。该公司的主要优势之一是它被公认为最值得信赖的在线内容社区之一，并被认为提供中国最高质量的内容之一。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，知乎从百度和快手科技等领先投资者那里获得了4.34亿美元的资金，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，这意味着市盈率为36倍。如果我们将相同的市盈率应用于该公司 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>知乎最初开发于2010年，是一个问答在线社区。截至2020年底，共有3.15亿次问答，涵盖1000多个垂直领域和57.1万个主题。就2020年的平均移动MAU和收入而言，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源拥有该公司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>主要人口统计</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。男性占用户总数的56.9%。30岁以下的人占其总用户群的78.7%。一线及新一线城市占总用户基数的52.6%。知乎的很多用户都是学生和白领职场人士。</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>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。本公司的广告收入主要由其每月活跃用户及每月活跃用户的广告收入推动。2020年，该公司的MAU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年推出付费内容。</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，平均每月会员人数同比增长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，该公司推出了Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了无限制访问约340万个付费内容的机会，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，因为它展示了高质量的数据和内容如何产生大量的收入，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>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币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，满足他们所有的销售和营销需求，包括营销计划、将最相关的内容创作者分配给感兴趣的用户以及促进内容创作。</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是未来几年增长最快的行业之一。根据灼识谘询，预计2019年至2025年，中国内容商务解决方案市场将实现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>在线内容社区是指以UGC（用户生成内容）为中心的（包括PUGC（专业用户生成内容）为中心的在线内容市场参与者，其中内容创建者也是用户，他们在社区内积极参与。与PGC（专业生成内容）玩家相比，内容社区通常可以刺激更高水平的用户参与、更多交互式的用户体验，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二零一五年的386亿元人民币增长至二零一九年的2758亿元人民币，预计二零二五年将进一步增长至1.3万亿元人民币，二零一九年至二零二五年的复合年增长率为30.3%，高于整体在线内容市场的增长。</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、内容电子商务、内容商务解决方案、直播中的虚拟礼物、网络游戏和在线教育服务。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>该公司的主要积极因素之一是越来越多的中国消费者愿意为更高质量的内容付费。2019 年至 2025 年间，中国在线内容社区的付费用户数量预计将以 17.1% 的复合年增长率增长，这意味着到 2025 年，在线内容社区的付费用户数量将增加 3.604 亿，达到 5.882 亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国网络内容市场</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>中国在线内容市场从2015年增长了两倍，到2019年达到1.2万亿元人民币。该市场预计将于2025年增长至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>2015-2025年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>2015-2025年中国在线内容社区市场规模（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>2015-2025年中国付费会员市场规模（按收入计）</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。该公司提供集成的内容商务解决方案，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，到分发给感兴趣的用户。中国内容商务解决方案市场预计将从2019年的114亿元人民币增长至2025年的1123亿元人民币，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>中国内容商务解决方案市场规模（按收入计），2015-2025E</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":594,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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,"isVote":1,"tweetType":1,"viewCount":2756,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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 公司的 COVID-19 疫苗的首批数据表明，第三剂加强针将对奥密克戎病毒有效，这种病毒正在迅速席卷全球。</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的中和抗体数量是相同数量只接受两次注射的人的血液的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>一组接受了第三次更高剂量的100微克剂量，中和奥密克戎病毒抗体的数量增加了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; 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.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 公司的 COVID-19 疫苗的首批数据表明，第三剂加强针将对奥密克戎病毒有效，这种病毒正在迅速席卷全球。</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的中和抗体数量是相同数量只接受两次注射的人的血液的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>一组接受了第三次更高剂量的100微克剂量，中和奥密克戎病毒抗体的数量增加了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":3689,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":2386,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":4368,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":2496,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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":783,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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>UPS (UPS+10.2%) 发布强劲财报后，许多货运、物流和卡车运输股票正在走高。</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>早盘交易中值得注意的涨幅包括 XPO Logistics (XPO+3.2%)、Air T (AIRT+1.7%)、Covenant Logistics Group (CVLG+10.5%)、Yellow Corporation (YELL+6.0%)、J.B.亨特运输（JBHT+1.1%）、美国卡车（USAK+4.0%）、美国快递企业（USX+4.0%）、ArcBest（ARCB+2.1%）和钢铁连接（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>盈利井喷后，UPS 的交易价格距离历史上首次突破 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>伯恩斯坦分析师大卫·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，因为国内领域的运营杠杆（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>UPS (UPS+10.2%) 发布强劲财报后，许多货运、物流和卡车运输股票正在走高。</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>早盘交易中值得注意的涨幅包括 XPO Logistics (XPO+3.2%)、Air T (AIRT+1.7%)、Covenant Logistics Group (CVLG+10.5%)、Yellow Corporation (YELL+6.0%)、J.B.亨特运输（JBHT+1.1%）、美国卡车（USAK+4.0%）、美国快递企业（USX+4.0%）、ArcBest（ARCB+2.1%）和钢铁连接（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>盈利井喷后，UPS 的交易价格距离历史上首次突破 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>伯恩斯坦分析师大卫·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，因为国内领域的运营杠杆（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":2781,"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":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574938001875818","idStr":"3574938001875818"},"themes":[],"title":"","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.laohunote.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 和本周值得关注的其他股票</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。少数几家知名公司包括周二的 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 的股东将对芯片设计商的合并提案进行投票。</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家将有很多事情需要关注：国际货币基金组织和世界银行本周将举行2021年春季虚拟会议。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月份会议纪要也将于本周三公布。本周公布的经济数据包括美国供应管理协会（Institute for Supply Management）周一公布的 3 月份服务采购经理人指数和美国劳工统计局（Bureau of Labor Statistics）周五公布的 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>许多证券交易所</b>世界各地，包括德国和英国，都是为了庆祝复活节而关闭的。</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 3 月份服务采购经理指数。经济学家预测读数为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>统计局发布了2月份的职位空缺和劳动力流动调查。普遍估计2月份最后一个工作日将有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收益。</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>委员会发布了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>好市多批发报告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（原名 CenturyLink）举办分析师日。Lumen 总裁兼首席执行官杰夫-斯托里（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，寻求批准其拟议的合并，该合并于 10 月份首次宣布。 AMDhas 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>报告二月份的消费信贷数据。未偿消费信贷总额为 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 日当周的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月以来的最低水平。</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>BLS报告</b>3月份生产者价格指数。预计环比上涨 0.5%，与 2 月份的涨幅持平。</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 和本周值得关注的其他股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nT-Mobile, AMD, Levi Strauss, Constellation Brands, and Other Stocks to Watch This Week<blockquote>T-Mobile、AMD、李维斯、Constellation Brands 和本周值得关注的其他股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-05 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。少数几家知名公司包括周二的 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 的股东将对芯片设计商的合并提案进行投票。</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家将有很多事情需要关注：国际货币基金组织和世界银行本周将举行2021年春季虚拟会议。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月份会议纪要也将于本周三公布。本周公布的经济数据包括美国供应管理协会（Institute for Supply Management）周一公布的 3 月份服务采购经理人指数和美国劳工统计局（Bureau of Labor Statistics）周五公布的 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>许多证券交易所</b>世界各地，包括德国和英国，都是为了庆祝复活节而关闭的。</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 3 月份服务采购经理指数。经济学家预测读数为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>统计局发布了2月份的职位空缺和劳动力流动调查。普遍估计2月份最后一个工作日将有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收益。</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>委员会发布了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>好市多批发报告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（原名 CenturyLink）举办分析师日。Lumen 总裁兼首席执行官杰夫-斯托里（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，寻求批准其拟议的合并，该合并于 10 月份首次宣布。 AMDhas 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>报告二月份的消费信贷数据。未偿消费信贷总额为 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 日当周的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月以来的最低水平。</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>BLS报告</b>3月份生产者价格指数。预计环比上涨 0.5%，与 2 月份的涨幅持平。</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":{"TMUS":"T-Mobile US Inc",".SPX":"S&P 500 Index","AMD":"美国超微公司",".DJI":"道琼斯","STZ":"星座品牌","TMUSR":"T-Mobile US Inc",".IXIC":"NASDAQ Composite"},"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":{".DJI":0.9,"AMD":0.9,"TMUS":0.9,".SPX":0.9,"STZ":0.9,"TMUSR":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2960,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}