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2021-12-21

Go

Travel and leisure stocks gained in early trading<blockquote>旅游休闲股早盘上涨</blockquote>

2021-12-20

ok

Oil stocks fell in early trading, with Callon, Occidental, APA and BP falling between 3% and 6%.<blockquote>石油股早盘下跌，Callon、Occidental、APA和BP跌幅在3%至6%之间。</blockquote>

2021-12-20

Ok

抱歉，原内容已删除

2021-12-20

Ok

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2021-12-18

Apple gogogo

2021-12-17

Thoughts on SEA group?

2021-12-17

Ooo

Former McDonald’s C.E.O. Repays Company $105 Million<blockquote>麦当劳前首席执行官偿还公司1.05亿美元</blockquote>

2021-12-16

Ok

抱歉，原内容已删除

2021-12-16

Ok

Why analysts love Apple right now<blockquote>为什么分析师现在喜欢苹果</blockquote>

2021-12-14

Ok

抱歉，原内容已删除

2021-12-13

Ok

Tesla slid nearly 4% in morning trading,with its market value falling below $1 trillion again<blockquote>特斯拉早盘下跌近4%，市值再次跌破1万亿美元</blockquote>

2021-12-11

Ok

抱歉，原内容已删除

2021-12-10

Ok

抱歉，原内容已删除

2021-12-09

Sigh

Grab stock dropped more than 6% in morning trading<blockquote>Grab 股价早盘交易中下跌超过 6%</blockquote>

2021-12-08

Nice

Apple shares rose nearly 2% to a new high<blockquote>苹果股价上涨近2%创新高</blockquote>

2021-12-07

Ok

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

2021-12-05

Ok

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

2021-12-05

Sigh

抱歉，原内容已删除

2021-11-29

Ok

Big tech shares jumped in morning trading<blockquote>大型科技股早盘交易中上涨</blockquote>

2021-11-27

Ok

抱歉，原内容已删除

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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":1640099685,"share":"https://www.laohunote.com/m/news/1154778445?lang=zh_CN&edition=full","pubTime":"2021-12-21 23:14","market":"us","language":"en","title":"Travel and leisure stocks gained in early trading<blockquote>旅游休闲股早盘上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154778445","media":"Tiger Newspress","summary":"Travel and leisure stocks gained in early trading. UAl, AAL, DAL and LUV shares were up between 4% a","content":"<p>Travel and leisure stocks&nbsp;gained&nbsp;in&nbsp;early&nbsp;trading.&nbsp;UAl,&nbsp;AAL,&nbsp;DAL&nbsp;and&nbsp;LUV&nbsp;shares&nbsp;were&nbsp;up&nbsp;between&nbsp;4%&nbsp;and&nbsp;7%.</p><p><blockquote>旅游和休闲股早盘上涨。UAl、AAL、DAL和LUV股价上涨4%至7%。</blockquote></p><p> CCL,&nbsp;RCL&nbsp;and&nbsp;NCLH&nbsp;shares&nbsp;rose&nbsp;between&nbsp;5%&nbsp;and&nbsp;8%.<img src=\"https://static.tigerbbs.com/99687d6e84a5baa64ead27263c83b24f\" tg-width=\"977\" tg-height=\"429\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/73210a8a9af665735a288bce4bf3b1cd\" tg-width=\"998\" tg-height=\"340\" referrerpolicy=\"no-referrer\">The Omicron coronavirus variant is rapidly spreading across the U.S. just as the holiday season’s busiest travel period gets under way.</p><p><blockquote>CCL、RCL 和 NCLH 股价上涨 5% 至 8%。奥密克戎冠状病毒变种正在美国各地迅速传播，而此时正值假期最繁忙的旅行时期。</blockquote></p><p> However, there appear to be no signs yet of the new variant significantly affecting air travel in the U.S. in the run up to Christmas.</p><p><blockquote>然而，似乎还没有迹象表明这种新变种会在圣诞节前对美国的航空旅行产生重大影响。</blockquote></p><p> More than two million people passed through airport security checkpoints on Monday for the fifth consecutive day, according to Transportation Security Administration data. The numbers have been tracking at between 81% and 85% of traveler throughput against the same days in 2019, although the peak holiday travel days are ahead.</p><p><blockquote>根据运输安全管理局的数据，周一连续第五天有超过200万人通过机场安检。与2019年同期相比，这些数字一直在81%至85%之间，尽管假日旅游高峰期即将到来。</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>Travel and leisure stocks gained in early trading<blockquote>旅游休闲股早盘上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTravel and leisure stocks gained in early trading<blockquote>旅游休闲股早盘上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-21 23:14</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Travel and leisure stocks&nbsp;gained&nbsp;in&nbsp;early&nbsp;trading.&nbsp;UAl,&nbsp;AAL,&nbsp;DAL&nbsp;and&nbsp;LUV&nbsp;shares&nbsp;were&nbsp;up&nbsp;between&nbsp;4%&nbsp;and&nbsp;7%.</p><p><blockquote>旅游和休闲股早盘上涨。UAl、AAL、DAL和LUV股价上涨4%至7%。</blockquote></p><p> CCL,&nbsp;RCL&nbsp;and&nbsp;NCLH&nbsp;shares&nbsp;rose&nbsp;between&nbsp;5%&nbsp;and&nbsp;8%.<img src=\"https://static.tigerbbs.com/99687d6e84a5baa64ead27263c83b24f\" tg-width=\"977\" tg-height=\"429\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/73210a8a9af665735a288bce4bf3b1cd\" tg-width=\"998\" tg-height=\"340\" referrerpolicy=\"no-referrer\">The Omicron coronavirus variant is rapidly spreading across the U.S. just as the holiday season’s busiest travel period gets under way.</p><p><blockquote>CCL、RCL 和 NCLH 股价上涨 5% 至 8%。奥密克戎冠状病毒变种正在美国各地迅速传播，而此时正值假期最繁忙的旅行时期。</blockquote></p><p> However, there appear to be no signs yet of the new variant significantly affecting air travel in the U.S. in the run up to Christmas.</p><p><blockquote>然而，似乎还没有迹象表明这种新变种会在圣诞节前对美国的航空旅行产生重大影响。</blockquote></p><p> More than two million people passed through airport security checkpoints on Monday for the fifth consecutive day, according to Transportation Security Administration data. The numbers have been tracking at between 81% and 85% of traveler throughput against the same days in 2019, although the peak holiday travel days are ahead.</p><p><blockquote>根据运输安全管理局的数据，周一连续第五天有超过200万人通过机场安检。与2019年同期相比，这些数字一直在81%至85%之间，尽管假日旅游高峰期即将到来。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CCL":"嘉年华邮轮","RCL":"皇家加勒比邮轮","NCLH":"挪威邮轮","AAL":"美国航空","LUV":"西南航空","UAL":"联合大陆航空","DAL":"达美航空"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154778445","content_text":"Travel and leisure stocks gained in early trading. UAl, AAL, DAL and LUV shares were up between 4% and 7%.\nCCL, RCL and NCLH shares rose between 5% and 8%.The Omicron coronavirus variant is rapidly spreading across the U.S. just as the holiday season’s busiest travel period gets under way.\nHowever, there appear to be no signs yet of the new variant significantly affecting air travel in the U.S. in the run up to Christmas.\nMore than two million people passed through airport security checkpoints on Monday for the fifth consecutive day, according to Transportation Security Administration data. The numbers have been tracking at between 81% and 85% of traveler throughput against the same days in 2019, although the peak holiday travel days are ahead.","news_type":1,"symbols_score_info":{"NCLH":0.9,"DAL":0.9,"CCL":0.9,"UAL":0.9,"AAL":0.9,"RCL":0.9,"LUV":0.9}},"isVote":1,"tweetType":1,"viewCount":3146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693628952,"gmtCreate":1640015172428,"gmtModify":1640015172722,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"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/693628952","repostId":"1140794695","repostType":4,"repost":{"id":"1140794695","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":1640012908,"share":"https://www.laohunote.com/m/news/1140794695?lang=zh_CN&edition=full","pubTime":"2021-12-20 23:08","market":"fut","language":"en","title":"Oil stocks fell in early trading, with Callon, Occidental, APA and BP falling between 3% and 6%.<blockquote>石油股早盘下跌，Callon、Occidental、APA和BP跌幅在3%至6%之间。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1140794695","media":"Tiger Newspress","summary":"Oil stocks fell in early trading, with Callon, Occidental, APA and BP falling between 3% and 6%.Oil ","content":"<p>Oil&nbsp;stocks&nbsp;fell&nbsp;in&nbsp;early&nbsp;trading,&nbsp;with&nbsp;Callon,&nbsp;Occidental,&nbsp;APA&nbsp;and&nbsp;BP&nbsp;falling&nbsp;between&nbsp;3%&nbsp;and&nbsp;6%.<img src=\"https://static.tigerbbs.com/5339b8a3c5d282e410a3ce584bf30fbb\" tg-width=\"710\" tg-height=\"589\" referrerpolicy=\"no-referrer\">Oil extended declines&nbsp;falling more than 5%&nbsp;hampered by the rapid spread of the omicron virus variant and turmoil for President Joe Biden’s economic plans.</p><p><blockquote>石油股早盘下跌，Callon、Occidental、APA和BP跌幅在3%至6%之间。受奥密克戎病毒变种的迅速传播和乔-拜登总统经济计划的混乱阻碍，油价延续跌势，跌幅超过 5%。</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>Oil stocks fell in early trading, with Callon, Occidental, APA and BP falling between 3% and 6%.<blockquote>石油股早盘下跌，Callon、Occidental、APA和BP跌幅在3%至6%之间。</blockquote></title>\n<style 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil stocks fell in early trading, with Callon, Occidental, APA and BP falling between 3% and 6%.<blockquote>石油股早盘下跌，Callon、Occidental、APA和BP跌幅在3%至6%之间。</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 23:08</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Oil&nbsp;stocks&nbsp;fell&nbsp;in&nbsp;early&nbsp;trading,&nbsp;with&nbsp;Callon,&nbsp;Occidental,&nbsp;APA&nbsp;and&nbsp;BP&nbsp;falling&nbsp;between&nbsp;3%&nbsp;and&nbsp;6%.<img src=\"https://static.tigerbbs.com/5339b8a3c5d282e410a3ce584bf30fbb\" tg-width=\"710\" tg-height=\"589\" referrerpolicy=\"no-referrer\">Oil extended declines&nbsp;falling more than 5%&nbsp;hampered by the rapid spread of the omicron virus variant and turmoil for President Joe Biden’s economic plans.</p><p><blockquote>石油股早盘下跌，Callon、Occidental、APA和BP跌幅在3%至6%之间。受奥密克戎病毒变种的迅速传播和乔-拜登总统经济计划的混乱阻碍，油价延续跌势，跌幅超过 5%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BP":"英国石油","APA":"阿帕契","CPE":"卡隆石油","OXY":"西方石油"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140794695","content_text":"Oil stocks fell in early trading, with Callon, Occidental, APA and BP falling between 3% and 6%.Oil extended declines falling more than 5% hampered by the rapid spread of the omicron virus variant and turmoil for President Joe Biden’s economic plans.","news_type":1,"symbols_score_info":{"BP":0.9,"APA":0.9,"CPE":0.9,"OXY":0.9}},"isVote":1,"tweetType":1,"viewCount":4309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693069074,"gmtCreate":1639929845204,"gmtModify":1639929845510,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693069074","repostId":"2192903795","repostType":4,"isVote":1,"tweetType":1,"viewCount":4179,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693060428,"gmtCreate":1639929817273,"gmtModify":1639929817573,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693060428","repostId":"2192903248","repostType":4,"isVote":1,"tweetType":1,"viewCount":2760,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699175304,"gmtCreate":1639762086283,"gmtModify":1639762086541,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Apple gogogo","listText":"Apple gogogo","text":"Apple gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699175304","isVote":1,"tweetType":1,"viewCount":3029,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690748723,"gmtCreate":1639713420644,"gmtModify":1639713420644,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Thoughts on SEA group?","listText":"Thoughts on SEA group?","text":"Thoughts on SEA group?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690748723","isVote":1,"tweetType":1,"viewCount":4217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690741664,"gmtCreate":1639713288795,"gmtModify":1639713289096,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ooo","listText":"Ooo","text":"Ooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/690741664","repostId":"1144273047","repostType":4,"repost":{"id":"1144273047","kind":"news","pubTimestamp":1639712173,"share":"https://www.laohunote.com/m/news/1144273047?lang=zh_CN&edition=full","pubTime":"2021-12-17 11:36","market":"us","language":"en","title":"Former McDonald’s C.E.O. Repays Company $105 Million<blockquote>麦当劳前首席执行官偿还公司1.05亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144273047","media":"The New York Times","summary":"The settlement with Steve Easterbrook, who was ousted in 2019 for an inappropriate relationship, is ","content":"<p>The settlement with Steve Easterbrook, who was ousted in 2019 for an inappropriate relationship, is one of the largest ever clawbacks of executive compensation.</p><p><blockquote>与史蒂夫·伊斯特布鲁克（Steve Easterbrook）的和解是有史以来最大的高管薪酬追回之一，伊斯特布鲁克因不正当关系于2019年被解雇。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/850a4bcfa411d4e4884c31fe03bdb585\" tg-width=\"1024\" tg-height=\"683\" width=\"100%\" height=\"auto\"><span>The agreement with Steve Easterbrook will end a contentious legal battle.Credit...Richard Drew/Associated Press</span></p><p><blockquote><p class=\"t-img-caption\"><span>与史蒂夫·伊斯特布鲁克的协议将结束一场有争议的法律战。信用……理查德·德鲁/美联社</span></p></blockquote></p><p> The former McDonald’s chief executive&nbsp;Steve Easterbrook, who was ousted by the company in 2019 for having an inappropriate relationship with a subordinate, has returned $105 million in cash and stock to the company in one of the largest clawbacks in the history of corporate America.</p><p><blockquote>麦当劳前首席执行官史蒂夫-伊斯特布鲁克（Steve Easterbrook）因与下属有不正当关系而于 2019 年被公司解雇，他已向公司返还了 1.05 亿美元的现金和股票，这是美国企业历史上最大的一次追回。</blockquote></p><p> Mr. Easterbrook has been engaged in a&nbsp;contentious battle with McDonald’s&nbsp;for the past year, after the company sued him for lying to investigators at the time of his dismissal. As part of the deal announced on Thursday, McDonald’s agreed to drop its lawsuit against Mr. Easterbrook.</p><p><blockquote>伊斯特布鲁克先生在过去的一年里一直与麦当劳公司进行着一场有争议的斗争，因为麦当劳公司起诉他在被解雇时向调查人员撒谎。作为周四宣布的交易的一部分，麦当劳同意放弃对伊斯特布鲁克先生的诉讼。</blockquote></p><p> In a message to employees, Enrique Hernandez Jr., the McDonald’s chairman, said that the company wanted to hold Mr. Easterbrook “accountable for his lies and misconduct, including the way in which he exploited his position as C.E.O.,” and that this settlement achieved that goal.</p><p><blockquote>麦当劳董事长小恩里克-埃尔南德斯（Enrique Hernandez Jr.</blockquote></p><p> Mr. Easterbrook was fired in 2019 after he engaged in a consensual relationship with an employee in violation of company policy, eventually setting off an unusually acrimonious fight between a wealthy executive and one of the country’s most prominent companies.</p><p><blockquote>2019 年，伊斯特布鲁克先生因违反公司政策与一名员工发生自愿关系而被解雇，最终引发了一位富有的高管与美国最著名的公司之一之间异常激烈的争吵。</blockquote></p><p> At the time of his dismissal, the McDonald’s board determined that Mr. Easterbrook had “demonstrated poor judgment,” but decided not to fire him “for cause” — that is, for being dishonest or committing a criminal act. That decision, the board hoped, would avoid a lengthy legal dispute. It also allowed Mr. Easterbrook to walk away with a compensation package worth more than $40 million. .</p><p><blockquote>在解雇伊斯特布鲁克时，麦当劳董事会认定伊斯特布鲁克先生 “表现出了糟糕的判断力”，但决定不 “出于正当理由 ”解雇他，即因为他不诚实或犯下了犯罪行为。董事会希望这一决定能够避免漫长的法律纠纷。它还允许伊斯特布鲁克先生带着价值超过4000万美元的一揽子赔偿金离开。</blockquote></p><p> But according to the company’s lawsuit against Mr. Easterbrook, his contract contained a provision that would let McDonald’s recoup severance payments if it later determined the employee should have been fired for cause.</p><p><blockquote>但根据该公司对伊斯特布鲁克先生的诉讼，他的合同中有一项条款，如果麦当劳后来认定该员工本应被解雇，麦当劳可以收回遣散费。</blockquote></p><p> That clause became relevant in 2020, when a McDonald’s employee said that Mr. Easterbrook had a sexual relationship with another subordinate while he was chief executive. The new accusation spurred another investigation of Mr. Easterbrook’s records, and prompted the company to sue him last year, accusing its former chief of lying, concealing evidence and fraud.</p><p><blockquote>2020 年，麦当劳的一名员工称伊斯特布鲁克先生在担任首席执行官期间与另一名下属发生了性关系，这一条款变得具有现实意义。新的指控引发了对伊斯特布鲁克先生记录的另一项调查，并促使该公司去年起诉了他，指控其前负责人撒谎、隐瞒证据和欺诈。</blockquote></p><p> During its investigation into the second accusation, McDonald’s said it found “dozens of nude, partially nude or sexually explicit photographs and videos of various women, including photographs of these company employees, that Easterbrook had sent as attachments to messages from his company email account to his personal email account.”</p><p><blockquote>麦当劳表示，在调查第二项指控时，它发现了 “数十张各种女性的裸体、半裸或露骨的照片和视频，包括这些公司员工的照片，这些照片和视频是伊斯特布鲁克作为公司电子邮件账户发送到他的个人电子邮件账户的附件”。</blockquote></p><p> The company also revealed that Mr. Easterbrook had awarded hundreds of thousands of dollars’ worth of stock to one of the women with whom he was having a sexual relationship. In its lawsuit, McDonald’s said that its former chief had lied to investigators in the initial inquiry, and that if he had “been candid with McDonald’s investigators and not concealed evidence, McDonald’s would have known that it had legal cause to terminate him in 2019.”</p><p><blockquote>该公司还透露，伊斯特布鲁克先生曾将价值数十万美元的股票赠予与他发生性关系的一名女性。麦当劳在诉讼中称，其前负责人在最初的调查中对调查人员撒了谎，如果他 “对麦当劳的调查人员坦诚相待，没有隐瞒证据，麦当劳就会知道有法律依据在 2019 年解雇他”。</blockquote></p><p> Mr. Easterbrook initially decided to fight the lawsuit, and his lawyers filed a motion to dismiss, calling it “meritless and misleading.”</p><p><blockquote>伊斯特布鲁克先生最初决定打官司，他的律师提出了驳回动议，称其 “毫无根据且具有误导性”。</blockquote></p><p> During his time as chief executive, Mr. Easterbrook sold more than $64 million in stock; when he departed in 2019, the value of the stock and options he had been awarded was worth $41 million. But as McDonald’s stock has soared to $264 a share from $193 in 2019, the value of those stock and options has grown to $89 million, according to the executive compensation consulting firm Equilar. It is not clear whether Mr. Easterbrook sold any of his shares after he left the company.</p><p><blockquote>在担任首席执行官期间，伊斯特布鲁克出售了超过 6400 万美元的股票；当他在2019年离开时，他获得的股票和期权价值4100万美元。但根据高管薪酬咨询公司 Equilar 的数据，随着麦当劳的股价从 2019 年的每股 193 美元飙升至 264 美元，这些股票和期权的价值已增长至 8900 万美元。目前尚不清楚伊斯特布鲁克先生离开公司后是否出售了任何股份。</blockquote></p><p> Nonetheless, with his agreement to return the huge sum of cash and stock to the company, Mr. Easterbrook has effectively conceded what was shaping up to be a long and costly legal battle. Mr. Easterbrook apologized in a statement released by the company.</p><p><blockquote>尽管如此，随着伊斯特布鲁克同意将巨额现金和股票归还给公司，他实际上已经承认了一场漫长而昂贵的法律战。伊斯特布鲁克先生在公司发布的一份声明中道歉。</blockquote></p><p> “During my tenure as C.E.O., I failed at times to uphold McDonald’s values and fulfill certain of my responsibilities as a leader of the company,” he said. “I apologize to my former co-workers, the board and the company’s franchisees and suppliers for doing so.”</p><p><blockquote>“他说：”在我担任首席执行官期间，我有时未能坚持麦当劳的价值观，也未能履行作为公司领导者的某些职责。“我为此向我的前同事、董事会以及公司的加盟商和供应商道歉”。</blockquote></p><p> Under Mr. Easterbrook’s successor,Chris Kempczinski, McDonald’s has emerged as a clear winner during the pandemic the past two years. Thanks to a combination of increased drive-through business; a robust push of its mobile app and loyalty programs; and&nbsp;meal collaborations with various celebrities and groups, including the K-pop sensation BTS, revenues at McDonald’s are on track to top $23 billion this year, the highest level in five years.</p><p><blockquote>在伊斯特布鲁克先生的继任者克里斯-肯普钦斯基（Chris Kempczinski）的领导下，麦当劳在过去两年的大流行病中成为明显的赢家。得益于免下车业务的增加；大力推动其移动应用程序和忠诚度计划；麦当劳与包括韩国流行音乐巨星 BTS 在内的众多名人和团体合作用餐，今年的收入有望突破 230 亿美元，创下五年来的最高水平。</blockquote></p><p></p><p> Earlier this year, Mr. Kempczinski defended the board’s handling of Mr. Easterbrook’s firing. “I thought they handled it as best as they could,”he said.</p><p><blockquote>今年早些时候，肯普钦斯基先生为董事会处理伊斯特布鲁克先生被解雇一事进行了辩护。“他说：”我认为他们已经尽力处理了这件事。</blockquote></p><p> Still, despite the company’s financial gains, a new&nbsp;training&nbsp;program for its restaurants and&nbsp;efforts&nbsp;to improve diversity and inclusion, some critics say not enough has been done to fix other problems that run deep in McDonald’s culture. The fast-food giant has faced myriad lawsuits and claims in recent years, some involving allegations of&nbsp;sexual harassment&nbsp;and others around&nbsp;racial&nbsp;discrimination.</p><p><blockquote>尽管如此，尽管麦当劳取得了财务收益，为其餐厅推出了新的培训计划，并努力提高多样性和包容性，但一些批评者认为，在解决麦当劳文化中根深蒂固的其他问题方面做得还不够。这家快餐巨头近年来面临无数诉讼和索赔，其中一些涉及性骚扰指控，另一些则涉及种族歧视。</blockquote></p><p> “McDonald’s should use the money it got back from the former C.E.O. to develop a real plan to stop the rampant sexual harassment occurring from the drive-throughs to the C-suite,” the advocacy group Fight for $15 said in a statement.</p><p><blockquote>“倡导组织“为 15 美元而战”在一份声明中说：”麦当劳应该用从前首席执行官那里拿回来的钱制定一个真正的计划，以制止从免下车餐厅到高管套房猖獗的性骚扰。</blockquote></p><p> In November, the release oftextmessages between Mr. Kempczinski and Chicago Mayor Lori Lightfoot — in which he seemed to blame the deaths of two Black and Latino children on their parents — prompted calls for his resignation. An investment group representing union pension funds issued a shareholder proposal asking McDonald’s to conduct a third-party audit of its policies and practices around the civil rights of employees and consumers. Mr. Kempczinski has repeatedly&nbsp;apologized&nbsp;for the comments.</p><p><blockquote>11月，肯普钦斯基和芝加哥市长洛里·莱特富特之间的短信被公布——他在短信中似乎将两名黑人和拉丁裔儿童的死亡归咎于他们的父母——促使评级辞职。一个代表工会养老基金的投资集团发布了一份股东提案，要求麦当劳对其围绕员工和消费者公民权利的政策和做法进行第三方审计。肯普钦斯基先生一再为这些言论道歉。</blockquote></p><p> Dieter Waizenegger, the executive director of the SOC Investment Group, said that as a shareholder, he was pleased the compensation had been returned, but still felt the board failed to do its job.</p><p><blockquote>SOC投资集团执行董事Dieter Waizenegger表示，作为股东，他很高兴薪酬已经退还，但仍然认为董事会没有尽职尽责。</blockquote></p><p> “The board could have saved itself a lot of time and probably a lot in legal fees if they had conducted a thorough initial investigation of Easterbrook’s behavior in the first place,” said Mr. Waizenegger. “This settlement comes after two years of wrangling and airing of dirty laundry in the media.”</p><p><blockquote>“Waizenegger 先生说：”如果董事会一开始就对伊斯特布鲁克的行为进行彻底的初步调查，他们本可以节省大量时间，还可能节省大量法律费用。“这一和解是在两年的争吵和媒体曝光丑闻之后达成的”。</blockquote></p><p> McDonald’s also still faces numerous shareholder lawsuits over the firing of the executive.</p><p><blockquote>麦当劳还因解雇这位高管而面临众多股东诉讼。</blockquote></p><p> On Thursday, the company said that “Mr. Easterbrook would return equity awards and cash, with&nbsp;a&nbsp;current&nbsp;value of&nbsp;more than&nbsp;$105 million, which&nbsp;he&nbsp;would have forfeited had he been truthful at the time of his termination and, as a result, been terminated for cause.” It did not specify the proportion of cash and stock. McDonald’s shares are up more than 25 percent this year.</p><p><blockquote>本周四，该公司表示，“伊斯特布鲁克先生将返还股权奖励和现金，目前价值超过 1.05 亿美元，如果他在被解雇时如实，并因此被解雇，他就会没收这些奖励和现金”。它没有具体说明现金和股票的比例。麦当劳股价今年上涨了 25% 以上。</blockquote></p><p> In his more than four years on the job, Mr. Easterbrook was credited with turning around McDonald’s and reviving its languishing stock price. As chief executive, he reduced costs, introduced&nbsp;touch-screen ordering&nbsp;and established all-day breakfast. Shares in the company roughly doubled.</p><p><blockquote>在四年多的任期内，伊斯特布鲁克先生扭转了麦当劳的颓势，使其股价重振。作为首席执行官，他降低了成本，引入了触摸屏点餐，并建立了全天早餐。该公司股价大约翻了一番。</blockquote></p><p> The clawback of his compensation, while large, is not the biggest in corporate history, although many earlier situations involved allegations of financial or accounting fraud. In 2007, the Securities and Exchange Commissionrecoveredmore than $400 million in profits made by William McGuire, the former chief executive of United Health, to settle claims related to a scheme involving the backdating of options. Later, Tyco International sued a former chief executive, Dennis Kozlowski, who had been convicted of looting the company, in an effort&nbsp;to collect&nbsp;$500 million he had received in compensation and benefits.</p><p><blockquote>他的薪酬虽然数额巨大，但并不是公司历史上最大的一次，尽管许多早期情况都涉及财务或会计欺诈的指控。2007 年，美国证券交易委员会追回了联合健康公司前首席执行官威廉·麦奎尔 (William McGuire) 赚取的 4 亿多美元利润，以解决与期权追溯计划相关的索赔。后来，泰科国际起诉了被判犯有抢劫公司罪的前首席执行官丹尼斯·科兹洛夫斯基，试图追讨他获得的 5 亿美元赔偿金和福利。</blockquote></p><p> “While Steve’s misconduct&nbsp;need&nbsp;not be forgiven by any member of this community, he has apologized to his former co-workers, franchisees, suppliers and the board for the profound errors he made,” said Mr. Hernandez, the McDonald’s chairman. “Today’s resolution avoids a protracted court process and moves us beyond a chapter that belongs in our past.”</p><p><blockquote>“麦当劳董事长埃尔南德斯先生说：”虽然史蒂夫的不当行为不需要得到社区任何成员的原谅，但他已经为自己犯下的严重错误向他的前同事、加盟商、供应商和董事会道歉。“今天的决议避免了漫长的法庭程序，让我们超越了属于我们过去的篇章”。</blockquote></p><p></p>","source":"lsy1608616134662","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>Former McDonald’s C.E.O. Repays Company $105 Million<blockquote>麦当劳前首席执行官偿还公司1.05亿美元</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\">\nFormer McDonald’s C.E.O. Repays Company $105 Million<blockquote>麦当劳前首席执行官偿还公司1.05亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The New York Times</strong><span class=\"h-time small\">2021-12-17 11:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The settlement with Steve Easterbrook, who was ousted in 2019 for an inappropriate relationship, is one of the largest ever clawbacks of executive compensation.</p><p><blockquote>与史蒂夫·伊斯特布鲁克（Steve Easterbrook）的和解是有史以来最大的高管薪酬追回之一，伊斯特布鲁克因不正当关系于2019年被解雇。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/850a4bcfa411d4e4884c31fe03bdb585\" tg-width=\"1024\" tg-height=\"683\" width=\"100%\" height=\"auto\"><span>The agreement with Steve Easterbrook will end a contentious legal battle.Credit...Richard Drew/Associated Press</span></p><p><blockquote><p class=\"t-img-caption\"><span>与史蒂夫·伊斯特布鲁克的协议将结束一场有争议的法律战。信用……理查德·德鲁/美联社</span></p></blockquote></p><p> The former McDonald’s chief executive&nbsp;Steve Easterbrook, who was ousted by the company in 2019 for having an inappropriate relationship with a subordinate, has returned $105 million in cash and stock to the company in one of the largest clawbacks in the history of corporate America.</p><p><blockquote>麦当劳前首席执行官史蒂夫-伊斯特布鲁克（Steve Easterbrook）因与下属有不正当关系而于 2019 年被公司解雇，他已向公司返还了 1.05 亿美元的现金和股票，这是美国企业历史上最大的一次追回。</blockquote></p><p> Mr. Easterbrook has been engaged in a&nbsp;contentious battle with McDonald’s&nbsp;for the past year, after the company sued him for lying to investigators at the time of his dismissal. As part of the deal announced on Thursday, McDonald’s agreed to drop its lawsuit against Mr. Easterbrook.</p><p><blockquote>伊斯特布鲁克先生在过去的一年里一直与麦当劳公司进行着一场有争议的斗争，因为麦当劳公司起诉他在被解雇时向调查人员撒谎。作为周四宣布的交易的一部分，麦当劳同意放弃对伊斯特布鲁克先生的诉讼。</blockquote></p><p> In a message to employees, Enrique Hernandez Jr., the McDonald’s chairman, said that the company wanted to hold Mr. Easterbrook “accountable for his lies and misconduct, including the way in which he exploited his position as C.E.O.,” and that this settlement achieved that goal.</p><p><blockquote>麦当劳董事长小恩里克-埃尔南德斯（Enrique Hernandez Jr.</blockquote></p><p> Mr. Easterbrook was fired in 2019 after he engaged in a consensual relationship with an employee in violation of company policy, eventually setting off an unusually acrimonious fight between a wealthy executive and one of the country’s most prominent companies.</p><p><blockquote>2019 年，伊斯特布鲁克先生因违反公司政策与一名员工发生自愿关系而被解雇，最终引发了一位富有的高管与美国最著名的公司之一之间异常激烈的争吵。</blockquote></p><p> At the time of his dismissal, the McDonald’s board determined that Mr. Easterbrook had “demonstrated poor judgment,” but decided not to fire him “for cause” — that is, for being dishonest or committing a criminal act. That decision, the board hoped, would avoid a lengthy legal dispute. It also allowed Mr. Easterbrook to walk away with a compensation package worth more than $40 million. .</p><p><blockquote>在解雇伊斯特布鲁克时，麦当劳董事会认定伊斯特布鲁克先生 “表现出了糟糕的判断力”，但决定不 “出于正当理由 ”解雇他，即因为他不诚实或犯下了犯罪行为。董事会希望这一决定能够避免漫长的法律纠纷。它还允许伊斯特布鲁克先生带着价值超过4000万美元的一揽子赔偿金离开。</blockquote></p><p> But according to the company’s lawsuit against Mr. Easterbrook, his contract contained a provision that would let McDonald’s recoup severance payments if it later determined the employee should have been fired for cause.</p><p><blockquote>但根据该公司对伊斯特布鲁克先生的诉讼，他的合同中有一项条款，如果麦当劳后来认定该员工本应被解雇，麦当劳可以收回遣散费。</blockquote></p><p> That clause became relevant in 2020, when a McDonald’s employee said that Mr. Easterbrook had a sexual relationship with another subordinate while he was chief executive. The new accusation spurred another investigation of Mr. Easterbrook’s records, and prompted the company to sue him last year, accusing its former chief of lying, concealing evidence and fraud.</p><p><blockquote>2020 年，麦当劳的一名员工称伊斯特布鲁克先生在担任首席执行官期间与另一名下属发生了性关系，这一条款变得具有现实意义。新的指控引发了对伊斯特布鲁克先生记录的另一项调查，并促使该公司去年起诉了他，指控其前负责人撒谎、隐瞒证据和欺诈。</blockquote></p><p> During its investigation into the second accusation, McDonald’s said it found “dozens of nude, partially nude or sexually explicit photographs and videos of various women, including photographs of these company employees, that Easterbrook had sent as attachments to messages from his company email account to his personal email account.”</p><p><blockquote>麦当劳表示，在调查第二项指控时，它发现了 “数十张各种女性的裸体、半裸或露骨的照片和视频，包括这些公司员工的照片，这些照片和视频是伊斯特布鲁克作为公司电子邮件账户发送到他的个人电子邮件账户的附件”。</blockquote></p><p> The company also revealed that Mr. Easterbrook had awarded hundreds of thousands of dollars’ worth of stock to one of the women with whom he was having a sexual relationship. In its lawsuit, McDonald’s said that its former chief had lied to investigators in the initial inquiry, and that if he had “been candid with McDonald’s investigators and not concealed evidence, McDonald’s would have known that it had legal cause to terminate him in 2019.”</p><p><blockquote>该公司还透露，伊斯特布鲁克先生曾将价值数十万美元的股票赠予与他发生性关系的一名女性。麦当劳在诉讼中称，其前负责人在最初的调查中对调查人员撒了谎，如果他 “对麦当劳的调查人员坦诚相待，没有隐瞒证据，麦当劳就会知道有法律依据在 2019 年解雇他”。</blockquote></p><p> Mr. Easterbrook initially decided to fight the lawsuit, and his lawyers filed a motion to dismiss, calling it “meritless and misleading.”</p><p><blockquote>伊斯特布鲁克先生最初决定打官司，他的律师提出了驳回动议，称其 “毫无根据且具有误导性”。</blockquote></p><p> During his time as chief executive, Mr. Easterbrook sold more than $64 million in stock; when he departed in 2019, the value of the stock and options he had been awarded was worth $41 million. But as McDonald’s stock has soared to $264 a share from $193 in 2019, the value of those stock and options has grown to $89 million, according to the executive compensation consulting firm Equilar. It is not clear whether Mr. Easterbrook sold any of his shares after he left the company.</p><p><blockquote>在担任首席执行官期间，伊斯特布鲁克出售了超过 6400 万美元的股票；当他在2019年离开时，他获得的股票和期权价值4100万美元。但根据高管薪酬咨询公司 Equilar 的数据，随着麦当劳的股价从 2019 年的每股 193 美元飙升至 264 美元，这些股票和期权的价值已增长至 8900 万美元。目前尚不清楚伊斯特布鲁克先生离开公司后是否出售了任何股份。</blockquote></p><p> Nonetheless, with his agreement to return the huge sum of cash and stock to the company, Mr. Easterbrook has effectively conceded what was shaping up to be a long and costly legal battle. Mr. Easterbrook apologized in a statement released by the company.</p><p><blockquote>尽管如此，随着伊斯特布鲁克同意将巨额现金和股票归还给公司，他实际上已经承认了一场漫长而昂贵的法律战。伊斯特布鲁克先生在公司发布的一份声明中道歉。</blockquote></p><p> “During my tenure as C.E.O., I failed at times to uphold McDonald’s values and fulfill certain of my responsibilities as a leader of the company,” he said. “I apologize to my former co-workers, the board and the company’s franchisees and suppliers for doing so.”</p><p><blockquote>“他说：”在我担任首席执行官期间，我有时未能坚持麦当劳的价值观，也未能履行作为公司领导者的某些职责。“我为此向我的前同事、董事会以及公司的加盟商和供应商道歉”。</blockquote></p><p> Under Mr. Easterbrook’s successor,Chris Kempczinski, McDonald’s has emerged as a clear winner during the pandemic the past two years. Thanks to a combination of increased drive-through business; a robust push of its mobile app and loyalty programs; and&nbsp;meal collaborations with various celebrities and groups, including the K-pop sensation BTS, revenues at McDonald’s are on track to top $23 billion this year, the highest level in five years.</p><p><blockquote>在伊斯特布鲁克先生的继任者克里斯-肯普钦斯基（Chris Kempczinski）的领导下，麦当劳在过去两年的大流行病中成为明显的赢家。得益于免下车业务的增加；大力推动其移动应用程序和忠诚度计划；麦当劳与包括韩国流行音乐巨星 BTS 在内的众多名人和团体合作用餐，今年的收入有望突破 230 亿美元，创下五年来的最高水平。</blockquote></p><p></p><p> Earlier this year, Mr. Kempczinski defended the board’s handling of Mr. Easterbrook’s firing. “I thought they handled it as best as they could,”he said.</p><p><blockquote>今年早些时候，肯普钦斯基先生为董事会处理伊斯特布鲁克先生被解雇一事进行了辩护。“他说：”我认为他们已经尽力处理了这件事。</blockquote></p><p> Still, despite the company’s financial gains, a new&nbsp;training&nbsp;program for its restaurants and&nbsp;efforts&nbsp;to improve diversity and inclusion, some critics say not enough has been done to fix other problems that run deep in McDonald’s culture. The fast-food giant has faced myriad lawsuits and claims in recent years, some involving allegations of&nbsp;sexual harassment&nbsp;and others around&nbsp;racial&nbsp;discrimination.</p><p><blockquote>尽管如此，尽管麦当劳取得了财务收益，为其餐厅推出了新的培训计划，并努力提高多样性和包容性，但一些批评者认为，在解决麦当劳文化中根深蒂固的其他问题方面做得还不够。这家快餐巨头近年来面临无数诉讼和索赔，其中一些涉及性骚扰指控，另一些则涉及种族歧视。</blockquote></p><p> “McDonald’s should use the money it got back from the former C.E.O. to develop a real plan to stop the rampant sexual harassment occurring from the drive-throughs to the C-suite,” the advocacy group Fight for $15 said in a statement.</p><p><blockquote>“倡导组织“为 15 美元而战”在一份声明中说：”麦当劳应该用从前首席执行官那里拿回来的钱制定一个真正的计划，以制止从免下车餐厅到高管套房猖獗的性骚扰。</blockquote></p><p> In November, the release oftextmessages between Mr. Kempczinski and Chicago Mayor Lori Lightfoot — in which he seemed to blame the deaths of two Black and Latino children on their parents — prompted calls for his resignation. An investment group representing union pension funds issued a shareholder proposal asking McDonald’s to conduct a third-party audit of its policies and practices around the civil rights of employees and consumers. Mr. Kempczinski has repeatedly&nbsp;apologized&nbsp;for the comments.</p><p><blockquote>11月，肯普钦斯基和芝加哥市长洛里·莱特富特之间的短信被公布——他在短信中似乎将两名黑人和拉丁裔儿童的死亡归咎于他们的父母——促使评级辞职。一个代表工会养老基金的投资集团发布了一份股东提案，要求麦当劳对其围绕员工和消费者公民权利的政策和做法进行第三方审计。肯普钦斯基先生一再为这些言论道歉。</blockquote></p><p> Dieter Waizenegger, the executive director of the SOC Investment Group, said that as a shareholder, he was pleased the compensation had been returned, but still felt the board failed to do its job.</p><p><blockquote>SOC投资集团执行董事Dieter Waizenegger表示，作为股东，他很高兴薪酬已经退还，但仍然认为董事会没有尽职尽责。</blockquote></p><p> “The board could have saved itself a lot of time and probably a lot in legal fees if they had conducted a thorough initial investigation of Easterbrook’s behavior in the first place,” said Mr. Waizenegger. “This settlement comes after two years of wrangling and airing of dirty laundry in the media.”</p><p><blockquote>“Waizenegger 先生说：”如果董事会一开始就对伊斯特布鲁克的行为进行彻底的初步调查，他们本可以节省大量时间，还可能节省大量法律费用。“这一和解是在两年的争吵和媒体曝光丑闻之后达成的”。</blockquote></p><p> McDonald’s also still faces numerous shareholder lawsuits over the firing of the executive.</p><p><blockquote>麦当劳还因解雇这位高管而面临众多股东诉讼。</blockquote></p><p> On Thursday, the company said that “Mr. Easterbrook would return equity awards and cash, with&nbsp;a&nbsp;current&nbsp;value of&nbsp;more than&nbsp;$105 million, which&nbsp;he&nbsp;would have forfeited had he been truthful at the time of his termination and, as a result, been terminated for cause.” It did not specify the proportion of cash and stock. McDonald’s shares are up more than 25 percent this year.</p><p><blockquote>本周四，该公司表示，“伊斯特布鲁克先生将返还股权奖励和现金，目前价值超过 1.05 亿美元，如果他在被解雇时如实，并因此被解雇，他就会没收这些奖励和现金”。它没有具体说明现金和股票的比例。麦当劳股价今年上涨了 25% 以上。</blockquote></p><p> In his more than four years on the job, Mr. Easterbrook was credited with turning around McDonald’s and reviving its languishing stock price. As chief executive, he reduced costs, introduced&nbsp;touch-screen ordering&nbsp;and established all-day breakfast. Shares in the company roughly doubled.</p><p><blockquote>在四年多的任期内，伊斯特布鲁克先生扭转了麦当劳的颓势，使其股价重振。作为首席执行官，他降低了成本，引入了触摸屏点餐，并建立了全天早餐。该公司股价大约翻了一番。</blockquote></p><p> The clawback of his compensation, while large, is not the biggest in corporate history, although many earlier situations involved allegations of financial or accounting fraud. In 2007, the Securities and Exchange Commissionrecoveredmore than $400 million in profits made by William McGuire, the former chief executive of United Health, to settle claims related to a scheme involving the backdating of options. Later, Tyco International sued a former chief executive, Dennis Kozlowski, who had been convicted of looting the company, in an effort&nbsp;to collect&nbsp;$500 million he had received in compensation and benefits.</p><p><blockquote>他的薪酬虽然数额巨大，但并不是公司历史上最大的一次，尽管许多早期情况都涉及财务或会计欺诈的指控。2007 年，美国证券交易委员会追回了联合健康公司前首席执行官威廉·麦奎尔 (William McGuire) 赚取的 4 亿多美元利润，以解决与期权追溯计划相关的索赔。后来，泰科国际起诉了被判犯有抢劫公司罪的前首席执行官丹尼斯·科兹洛夫斯基，试图追讨他获得的 5 亿美元赔偿金和福利。</blockquote></p><p> “While Steve’s misconduct&nbsp;need&nbsp;not be forgiven by any member of this community, he has apologized to his former co-workers, franchisees, suppliers and the board for the profound errors he made,” said Mr. Hernandez, the McDonald’s chairman. “Today’s resolution avoids a protracted court process and moves us beyond a chapter that belongs in our past.”</p><p><blockquote>“麦当劳董事长埃尔南德斯先生说：”虽然史蒂夫的不当行为不需要得到社区任何成员的原谅，但他已经为自己犯下的严重错误向他的前同事、加盟商、供应商和董事会道歉。“今天的决议避免了漫长的法庭程序，让我们超越了属于我们过去的篇章”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nytimes.com/2021/12/16/business/mcdonalds-steve-easterbrook.html?searchResultPosition=1\">The New York Times</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":{"MCD":"麦当劳"},"source_url":"https://www.nytimes.com/2021/12/16/business/mcdonalds-steve-easterbrook.html?searchResultPosition=1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144273047","content_text":"The settlement with Steve Easterbrook, who was ousted in 2019 for an inappropriate relationship, is one of the largest ever clawbacks of executive compensation.\nThe agreement with Steve Easterbrook will end a contentious legal battle.Credit...Richard Drew/Associated Press\nThe former McDonald’s chief executive Steve Easterbrook, who was ousted by the company in 2019 for having an inappropriate relationship with a subordinate, has returned $105 million in cash and stock to the company in one of the largest clawbacks in the history of corporate America.\nMr. Easterbrook has been engaged in a contentious battle with McDonald’s for the past year, after the company sued him for lying to investigators at the time of his dismissal. As part of the deal announced on Thursday, McDonald’s agreed to drop its lawsuit against Mr. Easterbrook.\nIn a message to employees, Enrique Hernandez Jr., the McDonald’s chairman, said that the company wanted to hold Mr. Easterbrook “accountable for his lies and misconduct, including the way in which he exploited his position as C.E.O.,” and that this settlement achieved that goal.\nMr. Easterbrook was fired in 2019 after he engaged in a consensual relationship with an employee in violation of company policy, eventually setting off an unusually acrimonious fight between a wealthy executive and one of the country’s most prominent companies.\nAt the time of his dismissal, the McDonald’s board determined that Mr. Easterbrook had “demonstrated poor judgment,” but decided not to fire him “for cause” — that is, for being dishonest or committing a criminal act. That decision, the board hoped, would avoid a lengthy legal dispute. It also allowed Mr. Easterbrook to walk away with a compensation package worth more than $40 million. .\nBut according to the company’s lawsuit against Mr. Easterbrook, his contract contained a provision that would let McDonald’s recoup severance payments if it later determined the employee should have been fired for cause.\nThat clause became relevant in 2020, when a McDonald’s employee said that Mr. Easterbrook had a sexual relationship with another subordinate while he was chief executive. The new accusation spurred another investigation of Mr. Easterbrook’s records, and prompted the company to sue him last year, accusing its former chief of lying, concealing evidence and fraud.\nDuring its investigation into the second accusation, McDonald’s said it found “dozens of nude, partially nude or sexually explicit photographs and videos of various women, including photographs of these company employees, that Easterbrook had sent as attachments to messages from his company email account to his personal email account.”\nThe company also revealed that Mr. Easterbrook had awarded hundreds of thousands of dollars’ worth of stock to one of the women with whom he was having a sexual relationship. In its lawsuit, McDonald’s said that its former chief had lied to investigators in the initial inquiry, and that if he had “been candid with McDonald’s investigators and not concealed evidence, McDonald’s would have known that it had legal cause to terminate him in 2019.”\nMr. Easterbrook initially decided to fight the lawsuit, and his lawyers filed a motion to dismiss, calling it “meritless and misleading.”\nDuring his time as chief executive, Mr. Easterbrook sold more than $64 million in stock; when he departed in 2019, the value of the stock and options he had been awarded was worth $41 million. But as McDonald’s stock has soared to $264 a share from $193 in 2019, the value of those stock and options has grown to $89 million, according to the executive compensation consulting firm Equilar. It is not clear whether Mr. Easterbrook sold any of his shares after he left the company.\nNonetheless, with his agreement to return the huge sum of cash and stock to the company, Mr. Easterbrook has effectively conceded what was shaping up to be a long and costly legal battle. Mr. Easterbrook apologized in a statement released by the company.\n“During my tenure as C.E.O., I failed at times to uphold McDonald’s values and fulfill certain of my responsibilities as a leader of the company,” he said. “I apologize to my former co-workers, the board and the company’s franchisees and suppliers for doing so.”\nUnder Mr. Easterbrook’s successor,Chris Kempczinski, McDonald’s has emerged as a clear winner during the pandemic the past two years. Thanks to a combination of increased drive-through business; a robust push of its mobile app and loyalty programs; and meal collaborations with various celebrities and groups, including the K-pop sensation BTS, revenues at McDonald’s are on track to top $23 billion this year, the highest level in five years.\nEarlier this year, Mr. Kempczinski defended the board’s handling of Mr. Easterbrook’s firing. “I thought they handled it as best as they could,”he said.\nStill, despite the company’s financial gains, a new training program for its restaurants and efforts to improve diversity and inclusion, some critics say not enough has been done to fix other problems that run deep in McDonald’s culture. The fast-food giant has faced myriad lawsuits and claims in recent years, some involving allegations of sexual harassment and others around racial discrimination.\n“McDonald’s should use the money it got back from the former C.E.O. to develop a real plan to stop the rampant sexual harassment occurring from the drive-throughs to the C-suite,” the advocacy group Fight for $15 said in a statement.\nIn November, the release oftextmessages between Mr. Kempczinski and Chicago Mayor Lori Lightfoot — in which he seemed to blame the deaths of two Black and Latino children on their parents — prompted calls for his resignation. An investment group representing union pension funds issued a shareholder proposal asking McDonald’s to conduct a third-party audit of its policies and practices around the civil rights of employees and consumers. Mr. Kempczinski has repeatedly apologized for the comments.\nDieter Waizenegger, the executive director of the SOC Investment Group, said that as a shareholder, he was pleased the compensation had been returned, but still felt the board failed to do its job.\n“The board could have saved itself a lot of time and probably a lot in legal fees if they had conducted a thorough initial investigation of Easterbrook’s behavior in the first place,” said Mr. Waizenegger. “This settlement comes after two years of wrangling and airing of dirty laundry in the media.”\nMcDonald’s also still faces numerous shareholder lawsuits over the firing of the executive.\nOn Thursday, the company said that “Mr. Easterbrook would return equity awards and cash, with a current value of more than $105 million, which he would have forfeited had he been truthful at the time of his termination and, as a result, been terminated for cause.” It did not specify the proportion of cash and stock. McDonald’s shares are up more than 25 percent this year.\nIn his more than four years on the job, Mr. Easterbrook was credited with turning around McDonald’s and reviving its languishing stock price. As chief executive, he reduced costs, introduced touch-screen ordering and established all-day breakfast. Shares in the company roughly doubled.\nThe clawback of his compensation, while large, is not the biggest in corporate history, although many earlier situations involved allegations of financial or accounting fraud. In 2007, the Securities and Exchange Commissionrecoveredmore than $400 million in profits made by William McGuire, the former chief executive of United Health, to settle claims related to a scheme involving the backdating of options. Later, Tyco International sued a former chief executive, Dennis Kozlowski, who had been convicted of looting the company, in an effort to collect $500 million he had received in compensation and benefits.\n“While Steve’s misconduct need not be forgiven by any member of this community, he has apologized to his former co-workers, franchisees, suppliers and the board for the profound errors he made,” said Mr. Hernandez, the McDonald’s chairman. “Today’s resolution avoids a protracted court process and moves us beyond a chapter that belongs in our past.”","news_type":1,"symbols_score_info":{"MCD":0.9}},"isVote":1,"tweetType":1,"viewCount":3029,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690213070,"gmtCreate":1639668927689,"gmtModify":1639669005786,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/690213070","repostId":"2191945281","repostType":4,"isVote":1,"tweetType":1,"viewCount":3404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690219084,"gmtCreate":1639668861551,"gmtModify":1639669002729,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690219084","repostId":"1121295991","repostType":4,"repost":{"id":"1121295991","kind":"news","pubTimestamp":1639664163,"share":"https://www.laohunote.com/m/news/1121295991?lang=zh_CN&edition=full","pubTime":"2021-12-16 22:16","market":"us","language":"en","title":"Why analysts love Apple right now<blockquote>为什么分析师现在喜欢苹果</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1121295991","media":"Yahoo Finance","summary":"Apple’s  market capitalization is once again closing in on $3 trillion. If and when it hits the mark, which will require shares to reach $182.86, Apple will be in historic territory. And analysts are loving it.This month alone, Katy Huberty of Morgan Stanley, Samik Chatterjee of JPMorgan, and Amit Daryanani of Evercore ISI have raised their price targets on the stock to $200. And on Tuesday BofA Global Research’s Wamsi Mohan upgraded the stock from neutral to buy and raised his price target for ","content":"<p>Apple’s (AAPL) market capitalization is once again closing in on $3 trillion. If and when it hits the mark, which will require shares to reach $182.86, Apple will be in historic territory. And analysts are loving it.</p><p><blockquote>苹果（AAPL）的市值再次接近 3 万亿美元。如果达到要求股价达到 182.86 美元的大关，苹果将处于历史区间。分析师们很喜欢它。</blockquote></p><p> This month alone, Katy Huberty of Morgan Stanley, Samik Chatterjee of JPMorgan, and Amit Daryanani of Evercore ISI have raised their price targets on the stock to $200. And on Tuesday BofA Global Research’s Wamsi Mohan upgraded the stock from neutral to buy and raised his price target for shares to $210.</p><p><blockquote>仅本月，摩根士丹利的 Katy Huberty、摩根大通的 Samik Chatterjee 和 Evercore ISI 的 Amit Daryanani 就将该股目标价上调至 200 美元。本周二，美国银行全球研究公司（BofA Global Research）的瓦姆西-莫汉（Wamsi Mohan）将该股评级从中性上调至买入，并将目标价上调至 210 美元。</blockquote></p><p> Several factors are spurring analysts to fawn over Apple: Optimism for Apple’s iPhone, its coming products including its rumored AR/VR headset, and the company’s ability to suck in consumers and keep them there through its services business.</p><p><blockquote>有几个因素促使分析师们对苹果趋之若鹜： 对苹果 iPhone、即将推出的产品（包括传闻中的 AR/VR 头显）的乐观态度，以及该公司通过服务业务吸引消费者并留住消费者的能力。</blockquote></p><p> “We expect Apple to introduce an augmented reality/virtual reality (AR/VR) headset, either by the end of 2022 or early 2023,” Mohan wrote in a recent analyst note. “We view this technology as a game-changer as it will enable many new applications which will require high performance hardware and higher access speeds.”</p><p><blockquote>“莫汉在最近的一份分析师报告中写道：”我们预计苹果将在 2022 年底或 2023 年初推出增强现实/虚拟现实（AR/VR）头显。“我们认为这项技术将改变游戏规则，因为它将实现许多需要高性能硬件和更高访问速度的新应用。”</blockquote></p><p> Apple’s AR/VR headset,according to Bloomberg’s Mark Gurman, could cost upwards of $3,000 and be geared to gaming, entertainment, and communications. The headset has been rumored for some time, with Apple filing various patents related to the technology.</p><p><blockquote>据彭博社记者马克-古尔曼（Mark Gurman）报道，苹果的 AR/VR 头显售价可能高达 3000 美元，主要用于游戏、娱乐和通信。这款耳机的传闻已经有一段时间了，苹果已经申请了与该技术相关的各种专利。</blockquote></p><p> “I think what a number of people and investors are thinking about is, ‘Hey, if they move to the glasses, the AR and VR glasses that a lot of people expect to see in '22, that's another opportunity to really build on this incredible ecosystem of device owners, and iOS, and Mac OS holders that really love their devices,’ ” TECHnalysis Research president Bob O’Donnell told Yahoo Finance Live.</p><p><blockquote>“TECHnalysis Research 总裁鲍勃-奥唐纳（Bob O'Donnell）告诉雅虎财经直播：”我认为很多人和投资者都在想，'嘿，如果他们转向眼镜，也就是很多人期待在 22 年看到的 AR 和 VR 眼镜，那将是另一个真正建立在这个由设备所有者、iOS 和 Mac OS 用户组成的令人难以置信的生态系统基础上的机会。</blockquote></p><p> Apple’s Services business, which includes its App Store, is one of the major sticking points the company has going for it. After all, if you own an iPhone, you’re going to buy apps, and when it’s time to get a new phone you’ll likely buy another iPhone to keep those apps.</p><p><blockquote>苹果的服务业务（包括 App Store）是该公司的主要症结之一。毕竟，如果你拥有一部 iPhone，你就会购买应用程序，而到了换新手机的时候，你很可能会再买一部 iPhone 来保存这些应用程序。</blockquote></p><p> The same idea would apply to the company’s AR/VR headset if Apple can wrangle the kind of third-party developer support it already enjoys on the iPhone.</p><p><blockquote>如果苹果能在 iPhone 上获得第三方开发者支持，那么同样的想法也适用于该公司的 AR/VR 头显。</blockquote></p><p> “We see the potential for more Services monetization relative to iPad as use cases develop beyond gaming and remote servicing and evolve into a whole new way in which the world digitally interacts, which AR/VR experts we've spoken with view as the long-term killer AR/VR application,” Huberty wrote in a Dec. 7 analyst note.</p><p><blockquote>“休伯蒂在 12 月 7 日的一份分析师报告中写道：”我们看到，随着用例超越游戏和远程服务，发展成为一种全新的世界数字互动方式，我们采访过的 AR/VR 专家将其视为长期杀手级 AR/VR 应用，相对于 iPad，我们看到了更多服务货币化的潜力。</blockquote></p><p> Of course, Apple’s iPhone is still the major driver of Apple’s revenue. And despite the supply chain problems that have upended nearly every industry around the world, Apple seems to be coming out of the crunch.</p><p><blockquote>当然，苹果的 iPhone 仍然是苹果收入的主要驱动力。尽管供应链问题已经颠覆了全球几乎所有行业，但苹果似乎正在走出危机。</blockquote></p><p> “Our checks indicate iPhone production is surprising to the upside as Apple hasn't experienced the same level of manufacturing disruptions as in the September quarter,” Huberty wrote. “While upward trending COVID cases are worth monitoring given they could create new production bottlenecks, we view supply upside as a driver of better December quarter iPhone results.”</p><p><blockquote>“休伯蒂写道：”我们的检查显示，iPhone 产量出人意料地上升，因为苹果还没有经历过与 9 月份季度相同程度的生产中断。“虽然 COVID 病例呈上升趋势，值得关注，因为它们可能会造成新的生产瓶颈，但我们认为供应上涨是 12 月份季度 iPhone 业绩更好的驱动力。”</blockquote></p><p> Taken together, it’s clear analysts believe Apple’s new headset and related apps and services business, not to mention the iPhone, will serve as the catalysts that will not only push Apple over the $3 trillion mark, but send the company’s stock even higher.</p><p><blockquote>综上所述，分析师们显然认为，苹果的新耳机及相关应用和服务业务，更不用说 iPhone，将成为催化剂，不仅将推动苹果突破 3 万亿美元大关，还将推动公司股价进一步走高。</blockquote></p><p> “Apple's rise is testament to its strong business model,” Santosh Rao, Manhattan Venture Partners’ head of research, told Yahoo Finance Live. “It's an amazing story.”</p><p><blockquote>“曼哈顿风险投资公司研究主管桑托什-拉奥（Santosh Rao）告诉雅虎财经直播：”苹果公司的崛起证明了其强大的商业模式。“这是一个精彩的故事。”</blockquote></p><p> “We have the cars coming up down the road, the 5G refresh, and so many other things, the services business, of course, is very strong,” he said. “So overall combined, this is a company that's well situated.”</p><p><blockquote>“他说：”我们有汽车上路、5G 更新以及许多其他事情，当然，服务业务非常强劲。“总的来说，这是一家地理位置优越的公司。”</blockquote></p><p> Now Apple just has to prove the analysts’ optimism correct.</p><p><blockquote>现在，苹果只需证明分析师的乐观是正确的。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy analysts love Apple right now<blockquote>为什么分析师现在喜欢苹果</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-12-16 22:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple’s (AAPL) market capitalization is once again closing in on $3 trillion. If and when it hits the mark, which will require shares to reach $182.86, Apple will be in historic territory. And analysts are loving it.</p><p><blockquote>苹果（AAPL）的市值再次接近 3 万亿美元。如果达到要求股价达到 182.86 美元的大关，苹果将处于历史区间。分析师们很喜欢它。</blockquote></p><p> This month alone, Katy Huberty of Morgan Stanley, Samik Chatterjee of JPMorgan, and Amit Daryanani of Evercore ISI have raised their price targets on the stock to $200. And on Tuesday BofA Global Research’s Wamsi Mohan upgraded the stock from neutral to buy and raised his price target for shares to $210.</p><p><blockquote>仅本月，摩根士丹利的 Katy Huberty、摩根大通的 Samik Chatterjee 和 Evercore ISI 的 Amit Daryanani 就将该股目标价上调至 200 美元。本周二，美国银行全球研究公司（BofA Global Research）的瓦姆西-莫汉（Wamsi Mohan）将该股评级从中性上调至买入，并将目标价上调至 210 美元。</blockquote></p><p> Several factors are spurring analysts to fawn over Apple: Optimism for Apple’s iPhone, its coming products including its rumored AR/VR headset, and the company’s ability to suck in consumers and keep them there through its services business.</p><p><blockquote>有几个因素促使分析师们对苹果趋之若鹜： 对苹果 iPhone、即将推出的产品（包括传闻中的 AR/VR 头显）的乐观态度，以及该公司通过服务业务吸引消费者并留住消费者的能力。</blockquote></p><p> “We expect Apple to introduce an augmented reality/virtual reality (AR/VR) headset, either by the end of 2022 or early 2023,” Mohan wrote in a recent analyst note. “We view this technology as a game-changer as it will enable many new applications which will require high performance hardware and higher access speeds.”</p><p><blockquote>“莫汉在最近的一份分析师报告中写道：”我们预计苹果将在 2022 年底或 2023 年初推出增强现实/虚拟现实（AR/VR）头显。“我们认为这项技术将改变游戏规则，因为它将实现许多需要高性能硬件和更高访问速度的新应用。”</blockquote></p><p> Apple’s AR/VR headset,according to Bloomberg’s Mark Gurman, could cost upwards of $3,000 and be geared to gaming, entertainment, and communications. The headset has been rumored for some time, with Apple filing various patents related to the technology.</p><p><blockquote>据彭博社记者马克-古尔曼（Mark Gurman）报道，苹果的 AR/VR 头显售价可能高达 3000 美元，主要用于游戏、娱乐和通信。这款耳机的传闻已经有一段时间了，苹果已经申请了与该技术相关的各种专利。</blockquote></p><p> “I think what a number of people and investors are thinking about is, ‘Hey, if they move to the glasses, the AR and VR glasses that a lot of people expect to see in '22, that's another opportunity to really build on this incredible ecosystem of device owners, and iOS, and Mac OS holders that really love their devices,’ ” TECHnalysis Research president Bob O’Donnell told Yahoo Finance Live.</p><p><blockquote>“TECHnalysis Research 总裁鲍勃-奥唐纳（Bob O'Donnell）告诉雅虎财经直播：”我认为很多人和投资者都在想，'嘿，如果他们转向眼镜，也就是很多人期待在 22 年看到的 AR 和 VR 眼镜，那将是另一个真正建立在这个由设备所有者、iOS 和 Mac OS 用户组成的令人难以置信的生态系统基础上的机会。</blockquote></p><p> Apple’s Services business, which includes its App Store, is one of the major sticking points the company has going for it. After all, if you own an iPhone, you’re going to buy apps, and when it’s time to get a new phone you’ll likely buy another iPhone to keep those apps.</p><p><blockquote>苹果的服务业务（包括 App Store）是该公司的主要症结之一。毕竟，如果你拥有一部 iPhone，你就会购买应用程序，而到了换新手机的时候，你很可能会再买一部 iPhone 来保存这些应用程序。</blockquote></p><p> The same idea would apply to the company’s AR/VR headset if Apple can wrangle the kind of third-party developer support it already enjoys on the iPhone.</p><p><blockquote>如果苹果能在 iPhone 上获得第三方开发者支持，那么同样的想法也适用于该公司的 AR/VR 头显。</blockquote></p><p> “We see the potential for more Services monetization relative to iPad as use cases develop beyond gaming and remote servicing and evolve into a whole new way in which the world digitally interacts, which AR/VR experts we've spoken with view as the long-term killer AR/VR application,” Huberty wrote in a Dec. 7 analyst note.</p><p><blockquote>“休伯蒂在 12 月 7 日的一份分析师报告中写道：”我们看到，随着用例超越游戏和远程服务，发展成为一种全新的世界数字互动方式，我们采访过的 AR/VR 专家将其视为长期杀手级 AR/VR 应用，相对于 iPad，我们看到了更多服务货币化的潜力。</blockquote></p><p> Of course, Apple’s iPhone is still the major driver of Apple’s revenue. And despite the supply chain problems that have upended nearly every industry around the world, Apple seems to be coming out of the crunch.</p><p><blockquote>当然，苹果的 iPhone 仍然是苹果收入的主要驱动力。尽管供应链问题已经颠覆了全球几乎所有行业，但苹果似乎正在走出危机。</blockquote></p><p> “Our checks indicate iPhone production is surprising to the upside as Apple hasn't experienced the same level of manufacturing disruptions as in the September quarter,” Huberty wrote. “While upward trending COVID cases are worth monitoring given they could create new production bottlenecks, we view supply upside as a driver of better December quarter iPhone results.”</p><p><blockquote>“休伯蒂写道：”我们的检查显示，iPhone 产量出人意料地上升，因为苹果还没有经历过与 9 月份季度相同程度的生产中断。“虽然 COVID 病例呈上升趋势，值得关注，因为它们可能会造成新的生产瓶颈，但我们认为供应上涨是 12 月份季度 iPhone 业绩更好的驱动力。”</blockquote></p><p> Taken together, it’s clear analysts believe Apple’s new headset and related apps and services business, not to mention the iPhone, will serve as the catalysts that will not only push Apple over the $3 trillion mark, but send the company’s stock even higher.</p><p><blockquote>综上所述，分析师们显然认为，苹果的新耳机及相关应用和服务业务，更不用说 iPhone，将成为催化剂，不仅将推动苹果突破 3 万亿美元大关，还将推动公司股价进一步走高。</blockquote></p><p> “Apple's rise is testament to its strong business model,” Santosh Rao, Manhattan Venture Partners’ head of research, told Yahoo Finance Live. “It's an amazing story.”</p><p><blockquote>“曼哈顿风险投资公司研究主管桑托什-拉奥（Santosh Rao）告诉雅虎财经直播：”苹果公司的崛起证明了其强大的商业模式。“这是一个精彩的故事。”</blockquote></p><p> “We have the cars coming up down the road, the 5G refresh, and so many other things, the services business, of course, is very strong,” he said. “So overall combined, this is a company that's well situated.”</p><p><blockquote>“他说：”我们有汽车上路、5G 更新以及许多其他事情，当然，服务业务非常强劲。“总的来说，这是一家地理位置优越的公司。”</blockquote></p><p> Now Apple just has to prove the analysts’ optimism correct.</p><p><blockquote>现在，苹果只需证明分析师的乐观是正确的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/why-analysts-love-apple-right-now-140655190.html\">Yahoo Finance</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":{"AAPL":"苹果"},"source_url":"https://finance.yahoo.com/news/why-analysts-love-apple-right-now-140655190.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121295991","content_text":"Apple’s (AAPL) market capitalization is once again closing in on $3 trillion. If and when it hits the mark, which will require shares to reach $182.86, Apple will be in historic territory. And analysts are loving it.\nThis month alone, Katy Huberty of Morgan Stanley, Samik Chatterjee of JPMorgan, and Amit Daryanani of Evercore ISI have raised their price targets on the stock to $200. And on Tuesday BofA Global Research’s Wamsi Mohan upgraded the stock from neutral to buy and raised his price target for shares to $210.\nSeveral factors are spurring analysts to fawn over Apple: Optimism for Apple’s iPhone, its coming products including its rumored AR/VR headset, and the company’s ability to suck in consumers and keep them there through its services business.\n“We expect Apple to introduce an augmented reality/virtual reality (AR/VR) headset, either by the end of 2022 or early 2023,” Mohan wrote in a recent analyst note. “We view this technology as a game-changer as it will enable many new applications which will require high performance hardware and higher access speeds.”\nApple’s AR/VR headset,according to Bloomberg’s Mark Gurman, could cost upwards of $3,000 and be geared to gaming, entertainment, and communications. The headset has been rumored for some time, with Apple filing various patents related to the technology.\n“I think what a number of people and investors are thinking about is, ‘Hey, if they move to the glasses, the AR and VR glasses that a lot of people expect to see in '22, that's another opportunity to really build on this incredible ecosystem of device owners, and iOS, and Mac OS holders that really love their devices,’ ” TECHnalysis Research president Bob O’Donnell told Yahoo Finance Live.\nApple’s Services business, which includes its App Store, is one of the major sticking points the company has going for it. After all, if you own an iPhone, you’re going to buy apps, and when it’s time to get a new phone you’ll likely buy another iPhone to keep those apps.\nThe same idea would apply to the company’s AR/VR headset if Apple can wrangle the kind of third-party developer support it already enjoys on the iPhone.\n“We see the potential for more Services monetization relative to iPad as use cases develop beyond gaming and remote servicing and evolve into a whole new way in which the world digitally interacts, which AR/VR experts we've spoken with view as the long-term killer AR/VR application,” Huberty wrote in a Dec. 7 analyst note.\nOf course, Apple’s iPhone is still the major driver of Apple’s revenue. And despite the supply chain problems that have upended nearly every industry around the world, Apple seems to be coming out of the crunch.\n“Our checks indicate iPhone production is surprising to the upside as Apple hasn't experienced the same level of manufacturing disruptions as in the September quarter,” Huberty wrote. “While upward trending COVID cases are worth monitoring given they could create new production bottlenecks, we view supply upside as a driver of better December quarter iPhone results.”\nTaken together, it’s clear analysts believe Apple’s new headset and related apps and services business, not to mention the iPhone, will serve as the catalysts that will not only push Apple over the $3 trillion mark, but send the company’s stock even higher.\n“Apple's rise is testament to its strong business model,” Santosh Rao, Manhattan Venture Partners’ head of research, told Yahoo Finance Live. “It's an amazing story.”\n“We have the cars coming up down the road, the 5G refresh, and so many other things, the services business, of course, is very strong,” he said. “So overall combined, this is a company that's well situated.”\nNow Apple just has to prove the analysts’ optimism correct.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2894,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607353100,"gmtCreate":1639492731806,"gmtModify":1639492760157,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/607353100","repostId":"2191958619","repostType":4,"isVote":1,"tweetType":1,"viewCount":2861,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604594436,"gmtCreate":1639409250842,"gmtModify":1639410228336,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/604594436","repostId":"1180533734","repostType":4,"repost":{"id":"1180533734","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":1639407527,"share":"https://www.laohunote.com/m/news/1180533734?lang=zh_CN&edition=full","pubTime":"2021-12-13 22:58","market":"us","language":"en","title":"Tesla slid nearly 4% in morning trading,with its market value falling below $1 trillion again<blockquote>特斯拉早盘下跌近4%，市值再次跌破1万亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180533734","media":"Tiger Newspress","summary":"TeslaChief Executive Officer Elon Musk was named Time magazine's 2021 \"Person of the Year\" on Monday.Musk is also the founder and CEO of rocket company SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company.However，Cathie Wood-led Ark Invest on Friday sold more shares in Tesla Inc, continuing to book profit in a stock that remains its largest bet.Ark Invest sold a total of 28,345 shares — estimated to be worth $28.83 million based on Friday’s closing  — in the ","content":"<p>Tesla slid nearly 4% in morning trading,with its market value falling below $1 trillion&nbsp;again.<img src=\"https://static.tigerbbs.com/a28dab52e2d7615de33a3796d912329b\" tg-width=\"770\" tg-height=\"573\" referrerpolicy=\"no-referrer\"></p><p><blockquote>特斯拉早盘下跌近4%，市值再次跌破1万亿美元。</blockquote></p><p> Tesla(TSLA.O)Chief Executive Officer Elon Musk was named Time magazine's 2021 \"Person of the Year\" on Monday.</p><p><blockquote>特斯拉 (TSLA.O) 首席执行官埃隆·马斯克 (Elon Musk) 周一被《时代》杂志评为 2021 年“年度人物”。</blockquote></p><p> Musk is also the founder and CEO of rocket company SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company.</p><p><blockquote>马斯克还是火箭公司 SpaceX 的创始人兼首席执行官，并领导着大脑芯片初创公司 Neuralink 和基础设施公司 The Boring Company。</blockquote></p><p> However，<b>Cathie Wood</b>-led&nbsp;<b>Ark Invest</b>&nbsp;on Friday sold more shares in&nbsp;<b>Tesla Inc</b>, continuing to book profit in a stock that remains its largest bet.</p><p><blockquote>然而，<b>凯西·伍德</b>-led<b>方舟投资</b>周五出售了更多股票<b>特斯拉公司</b>继续在仍然是其最大赌注的股票上获利。</blockquote></p><p> Ark Invest sold a total of 28,345 shares — estimated to be worth $28.83 million based on Friday’s closing&nbsp; — in the electric vehicle maker.</p><p><blockquote>Ark Invest 共出售了这家电动汽车制造商的 28,345 股股票，根据周五的收盘价估计价值 2883 万美元。</blockquote></p><p> Ark Invest sold the shares via the&nbsp;<b>Ark Innovation ETF</b>&nbsp;and the&nbsp;<b>Ark Autonomous Technology &amp; Robotics ETF</b>(BATS:ARKQ) and also holds the stock via the<b>Ark Next Generation Internet ETF</b>(BATS:ARKW) on Friday.</p><p><blockquote>Ark Invest 通过<b>方舟创新ETF</b>和<b>方舟自主技术与机器人 ETF</b>(BATS:ARKQ) 并通过<b>方舟下一代互联网ETF</b>（蝙蝠：ARKW）周五。</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>Tesla slid nearly 4% in morning trading,with its market value falling below $1 trillion again<blockquote>特斯拉早盘下跌近4%，市值再次跌破1万亿美元</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\">\nTesla slid nearly 4% in morning trading,with its market value falling below $1 trillion again<blockquote>特斯拉早盘下跌近4%，市值再次跌破1万亿美元</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\">2021-12-13 22:58</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tesla slid nearly 4% in morning trading,with its market value falling below $1 trillion&nbsp;again.<img src=\"https://static.tigerbbs.com/a28dab52e2d7615de33a3796d912329b\" tg-width=\"770\" tg-height=\"573\" referrerpolicy=\"no-referrer\"></p><p><blockquote>特斯拉早盘下跌近4%，市值再次跌破1万亿美元。</blockquote></p><p> Tesla(TSLA.O)Chief Executive Officer Elon Musk was named Time magazine's 2021 \"Person of the Year\" on Monday.</p><p><blockquote>特斯拉 (TSLA.O) 首席执行官埃隆·马斯克 (Elon Musk) 周一被《时代》杂志评为 2021 年“年度人物”。</blockquote></p><p> Musk is also the founder and CEO of rocket company SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company.</p><p><blockquote>马斯克还是火箭公司 SpaceX 的创始人兼首席执行官，并领导着大脑芯片初创公司 Neuralink 和基础设施公司 The Boring Company。</blockquote></p><p> However，<b>Cathie Wood</b>-led&nbsp;<b>Ark Invest</b>&nbsp;on Friday sold more shares in&nbsp;<b>Tesla Inc</b>, continuing to book profit in a stock that remains its largest bet.</p><p><blockquote>然而，<b>凯西·伍德</b>-led<b>方舟投资</b>周五出售了更多股票<b>特斯拉公司</b>继续在仍然是其最大赌注的股票上获利。</blockquote></p><p> Ark Invest sold a total of 28,345 shares — estimated to be worth $28.83 million based on Friday’s closing&nbsp; — in the electric vehicle maker.</p><p><blockquote>Ark Invest 共出售了这家电动汽车制造商的 28,345 股股票，根据周五的收盘价估计价值 2883 万美元。</blockquote></p><p> Ark Invest sold the shares via the&nbsp;<b>Ark Innovation ETF</b>&nbsp;and the&nbsp;<b>Ark Autonomous Technology &amp; Robotics ETF</b>(BATS:ARKQ) and also holds the stock via the<b>Ark Next Generation Internet ETF</b>(BATS:ARKW) on Friday.</p><p><blockquote>Ark Invest 通过<b>方舟创新ETF</b>和<b>方舟自主技术与机器人 ETF</b>(BATS:ARKQ) 并通过<b>方舟下一代互联网ETF</b>（蝙蝠：ARKW）周五。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180533734","content_text":"Tesla slid nearly 4% in morning trading,with its market value falling below $1 trillion again.\nTesla(TSLA.O)Chief Executive Officer Elon Musk was named Time magazine's 2021 \"Person of the Year\" on Monday.\nMusk is also the founder and CEO of rocket company SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company.\nHowever，Cathie Wood-led Ark Invest on Friday sold more shares in Tesla Inc, continuing to book profit in a stock that remains its largest bet.\nArk Invest sold a total of 28,345 shares — estimated to be worth $28.83 million based on Friday’s closing  — in the electric vehicle maker.\nArk Invest sold the shares via the Ark Innovation ETF and the Ark Autonomous Technology & Robotics ETF(BATS:ARKQ) and also holds the stock via theArk Next Generation Internet ETF(BATS:ARKW) on Friday.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605486495,"gmtCreate":1639218178230,"gmtModify":1639218178546,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/605486495","repostId":"2190620320","repostType":4,"isVote":1,"tweetType":1,"viewCount":1610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605328206,"gmtCreate":1639117431616,"gmtModify":1639117431888,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605328206","repostId":"1188861971","repostType":4,"isVote":1,"tweetType":1,"viewCount":848,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602798927,"gmtCreate":1639063570383,"gmtModify":1639064699089,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Sigh","listText":"Sigh","text":"Sigh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/602798927","repostId":"1196130142","repostType":4,"repost":{"id":"1196130142","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":1639062546,"share":"https://www.laohunote.com/m/news/1196130142?lang=zh_CN&edition=full","pubTime":"2021-12-09 23:09","market":"us","language":"en","title":"Grab stock dropped more than 6% in morning trading<blockquote>Grab 股价早盘交易中下跌超过 6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1196130142","media":"Tiger Newspress","summary":"Grab Holdings stock dropped more than 6% in morning trading.","content":"<p>Grab Holdings stock dropped more than 6% in morning trading.</p><p><blockquote>Grab Holdings 股价在早盘交易中下跌超过 6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f1c84529a60ffcf4e7ba53b126b147d9\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grab stock dropped more than 6% in morning trading<blockquote>Grab 股价早盘交易中下跌超过 6%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrab stock dropped more than 6% in morning trading<blockquote>Grab 股价早盘交易中下跌超过 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\">2021-12-09 23:09</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Grab Holdings stock dropped more than 6% in morning trading.</p><p><blockquote>Grab Holdings 股价在早盘交易中下跌超过 6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f1c84529a60ffcf4e7ba53b126b147d9\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196130142","content_text":"Grab Holdings stock dropped more than 6% in morning trading.","news_type":1,"symbols_score_info":{"GRAB":0.9}},"isVote":1,"tweetType":1,"viewCount":854,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602198616,"gmtCreate":1638978506834,"gmtModify":1638978507099,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/602198616","repostId":"1161444269","repostType":4,"repost":{"id":"1161444269","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":1638977215,"share":"https://www.laohunote.com/m/news/1161444269?lang=zh_CN&edition=full","pubTime":"2021-12-08 23:26","market":"us","language":"en","title":"Apple shares rose nearly 2% to a new high<blockquote>苹果股价上涨近2%创新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1161444269","media":"Tiger Newspress","summary":"Apple shares rose nearly 2% to a new high in morning trading.","content":"<p>Apple shares rose nearly 2% to a new high&nbsp;in morning trading.</p><p><blockquote>苹果股价在早盘交易中上涨近2%，创下新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a9f5fdc1cb0a898675c515a39de7611\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple shares rose nearly 2% to a new high<blockquote>苹果股价上涨近2%创新高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple shares rose nearly 2% to a new high<blockquote>苹果股价上涨近2%创新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-08 23:26</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Apple shares rose nearly 2% to a new high&nbsp;in morning trading.</p><p><blockquote>苹果股价在早盘交易中上涨近2%，创下新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a9f5fdc1cb0a898675c515a39de7611\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161444269","content_text":"Apple shares rose nearly 2% to a new high in morning trading.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":984,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606917337,"gmtCreate":1638809041727,"gmtModify":1638809041962,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/606917337","repostId":"1189410190","repostType":4,"repost":{"id":"1189410190","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1638804387,"share":"https://www.laohunote.com/m/news/1189410190?lang=zh_CN&edition=full","pubTime":"2021-12-06 23:26","market":"us","language":"en","title":"Stocks linked to the reopening of the economy gained on Monday<blockquote>与经济重新开放相关的股票周一上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189410190","media":"Tiger Newspress","summary":"Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines and travel book","content":"<p>Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines&nbsp;and&nbsp;travel booking stocks&nbsp;jumped&nbsp;in morning trading.</p><p><blockquote>与经济重新开放相关的股票周一上涨.航空公司、邮轮公司和旅游预订股在早盘交易中上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/651aa4b1311ccf3c19aeb54b31cfa75d\" tg-width=\"410\" tg-height=\"485\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f544513dbaea07f8bfb6ef95f4787209\" tg-width=\"416\" tg-height=\"188\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f38b5565430c470461254d0b06da3752\" tg-width=\"405\" tg-height=\"178\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","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>Stocks linked to the reopening of the economy gained on Monday<blockquote>与经济重新开放相关的股票周一上涨</blockquote></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\">\nStocks linked to the reopening of the economy gained on Monday<blockquote>与经济重新开放相关的股票周一上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-06 23:26</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines&nbsp;and&nbsp;travel booking stocks&nbsp;jumped&nbsp;in morning trading.</p><p><blockquote>与经济重新开放相关的股票周一上涨.航空公司、邮轮公司和旅游预订股在早盘交易中上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/651aa4b1311ccf3c19aeb54b31cfa75d\" tg-width=\"410\" tg-height=\"485\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f544513dbaea07f8bfb6ef95f4787209\" tg-width=\"416\" tg-height=\"188\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f38b5565430c470461254d0b06da3752\" tg-width=\"405\" tg-height=\"178\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BA":"波音","NCLH":"挪威邮轮","ALK":"阿拉斯加航空集团有限公司","RCL":"皇家加勒比邮轮","JBLU":"捷蓝航空","SAVE":"Spirit Airlines","ABNB":"爱彼迎","DAL":"达美航空","EXPE":"Expedia","BKNG":"Booking Holdings","UAL":"联合大陆航空","CCL":"嘉年华邮轮","AAL":"美国航空","LUV":"西南航空"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189410190","content_text":"Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines and travel booking stocks jumped in morning trading.","news_type":1,"symbols_score_info":{"AAL":0.9,"UAL":0.9,"EXPE":0.9,"NCLH":0.9,"BA":0.9,"JBLU":0.9,"ALK":0.9,"CCL":0.9,"SAVE":0.9,"LUV":0.9,"DAL":0.9,"ABNB":0.9,"RCL":0.9,"BKNG":0.9}},"isVote":1,"tweetType":1,"viewCount":1196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608653879,"gmtCreate":1638719474635,"gmtModify":1638719474754,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/608653879","repostId":"1174181873","repostType":4,"repost":{"id":"1174181873","kind":"news","pubTimestamp":1638578178,"share":"https://www.laohunote.com/m/news/1174181873?lang=zh_CN&edition=full","pubTime":"2021-12-04 08:36","market":"us","language":"en","title":"US IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国 IPO 周即将到来：数字银行和云基础设施引领 IPO 周 4</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1174181873","media":"renaissancecap...","summary":"The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billi","content":"<p>The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billion.</p><p><blockquote>IPO市场预计将在未来一周回暖，四次IPO计划筹集37亿美元。</blockquote></p><p> Buffett-backed&nbsp;<b>Nu Holdings</b>(NU) plans to raise $2.5 billion at a $41.1 billion market cap. Operating as Nubank, this Brazilian online-only bank was formed in 2013 to launch a no-fees credit card offering with a mobile-first customer experience, but has since expanded to offer various other financial products. Nu has grown rapidly since its inception, with a current base of nearly 50 million customers, though revenue per customer has been falling as its base grows.</p><p><blockquote>巴菲特支持<b>如控股</b>(NU) 计划以 411 亿美元的市值筹集 25 亿美元。这家巴西纯在线银行成立于 2013 年，名为 Nubank，旨在推出免费信用卡产品，提供移动优先的客户体验，但此后已扩展到提供各种其他金融产品。Nu自成立以来发展迅速，目前拥有近5000万客户群，但随着客户群的增长，每位客户的收入一直在下降。</blockquote></p><p> Cloud infrastructure platform&nbsp;<b>HashiCorp</b>(HCP) plans to raise $1.1 billion at a $14.0 billion market cap. This VC-backed company provides a suite of solutions that standardize and automate the provisioning, securing, connecting, and running of cloud infrastructure at scale. While it has demonstrated rapid growth and a sticky customer base, HashiCorp is highly unprofitable due to S&amp;M spend.</p><p><blockquote>云基础设施平台<b>哈希公司</b>(HCP) 计划以 140 亿美元的市值筹集 11 亿美元。这家由风险投资支持的公司提供了一套解决方案，可以大规模标准化和自动化云基础设施的配置、保护、连接和运行。虽然 HashiCorp 表现出快速增长和粘性客户群，但由于 S&amp;M 支出，HashiCorp 高度无利可图。</blockquote></p><p> Cannabis finance REIT&nbsp;<b>Chicago Atlantic Real Estate Finance</b>(REFI) plans to raise $106 million at a $296 million market cap. This newly-formed REIT is focused on originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its current portfolio consists of senior loans to state-licensed operators in the cannabis industry.</p><p><blockquote>大麻金融房地产投资信托基金<b>芝加哥大西洋房地产金融</b>(REFI) 计划以 2.96 亿美元的市值筹集 1.06 亿美元。这个新成立的房地产投资信托基金专注于发起、构建和投资第一抵押贷款和由商业房地产担保的替代结构性融资。其目前的投资组合包括向大麻行业国家许可运营商提供的高级贷款。</blockquote></p><p> Canadian gold exploration company&nbsp;<b>Austin Gold</b>(AUST) plans to raise $15 million at a $64 million market cap. This Canadian gold exploration company currently has interests in four properties located in the state of Nevada, with just one property that it considers material at this time. Austin Gold has not generated any operating revenues to date.</p><p><blockquote>加拿大黄金勘探公司<b>奥斯汀黄金</b>(AUST) 计划以 6400 万美元的市值筹集 1500 万美元。这家加拿大黄金勘探公司目前在内华达州的四处矿产中拥有权益，目前只有一处矿产被认为是重要的。奥斯汀黄金公司迄今为止尚未产生任何营业收入。</blockquote></p><p></p>","source":"lsy1619493174116","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国 IPO 周即将到来：数字银行和云基础设施引领 IPO 周 4</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国 IPO 周即将到来：数字银行和云基础设施引领 IPO 周 4</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-12-04 08:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billion.</p><p><blockquote>IPO市场预计将在未来一周回暖，四次IPO计划筹集37亿美元。</blockquote></p><p> Buffett-backed&nbsp;<b>Nu Holdings</b>(NU) plans to raise $2.5 billion at a $41.1 billion market cap. Operating as Nubank, this Brazilian online-only bank was formed in 2013 to launch a no-fees credit card offering with a mobile-first customer experience, but has since expanded to offer various other financial products. Nu has grown rapidly since its inception, with a current base of nearly 50 million customers, though revenue per customer has been falling as its base grows.</p><p><blockquote>巴菲特支持<b>如控股</b>(NU) 计划以 411 亿美元的市值筹集 25 亿美元。这家巴西纯在线银行成立于 2013 年，名为 Nubank，旨在推出免费信用卡产品，提供移动优先的客户体验，但此后已扩展到提供各种其他金融产品。Nu自成立以来发展迅速，目前拥有近5000万客户群，但随着客户群的增长，每位客户的收入一直在下降。</blockquote></p><p> Cloud infrastructure platform&nbsp;<b>HashiCorp</b>(HCP) plans to raise $1.1 billion at a $14.0 billion market cap. This VC-backed company provides a suite of solutions that standardize and automate the provisioning, securing, connecting, and running of cloud infrastructure at scale. While it has demonstrated rapid growth and a sticky customer base, HashiCorp is highly unprofitable due to S&amp;M spend.</p><p><blockquote>云基础设施平台<b>哈希公司</b>(HCP) 计划以 140 亿美元的市值筹集 11 亿美元。这家由风险投资支持的公司提供了一套解决方案，可以大规模标准化和自动化云基础设施的配置、保护、连接和运行。虽然 HashiCorp 表现出快速增长和粘性客户群，但由于 S&amp;M 支出，HashiCorp 高度无利可图。</blockquote></p><p> Cannabis finance REIT&nbsp;<b>Chicago Atlantic Real Estate Finance</b>(REFI) plans to raise $106 million at a $296 million market cap. This newly-formed REIT is focused on originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its current portfolio consists of senior loans to state-licensed operators in the cannabis industry.</p><p><blockquote>大麻金融房地产投资信托基金<b>芝加哥大西洋房地产金融</b>(REFI) 计划以 2.96 亿美元的市值筹集 1.06 亿美元。这个新成立的房地产投资信托基金专注于发起、构建和投资第一抵押贷款和由商业房地产担保的替代结构性融资。其目前的投资组合包括向大麻行业国家许可运营商提供的高级贷款。</blockquote></p><p> Canadian gold exploration company&nbsp;<b>Austin Gold</b>(AUST) plans to raise $15 million at a $64 million market cap. This Canadian gold exploration company currently has interests in four properties located in the state of Nevada, with just one property that it considers material at this time. Austin Gold has not generated any operating revenues to date.</p><p><blockquote>加拿大黄金勘探公司<b>奥斯汀黄金</b>(AUST) 计划以 6400 万美元的市值筹集 1500 万美元。这家加拿大黄金勘探公司目前在内华达州的四处矿产中拥有权益，目前只有一处矿产被认为是重要的。奥斯汀黄金公司迄今为止尚未产生任何营业收入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/89235/US-IPO-Week-Ahead-Digital-banking-and-cloud-infrastructure-lead-a-4-IPO-wee\">renaissancecap...</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NU":"Nu Holdings Ltd.","REFI":"Chicago Atlantic Real Estate Finance, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/89235/US-IPO-Week-Ahead-Digital-banking-and-cloud-infrastructure-lead-a-4-IPO-wee","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174181873","content_text":"The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billion.\nBuffett-backed Nu Holdings(NU) plans to raise $2.5 billion at a $41.1 billion market cap. Operating as Nubank, this Brazilian online-only bank was formed in 2013 to launch a no-fees credit card offering with a mobile-first customer experience, but has since expanded to offer various other financial products. Nu has grown rapidly since its inception, with a current base of nearly 50 million customers, though revenue per customer has been falling as its base grows.\nCloud infrastructure platform HashiCorp(HCP) plans to raise $1.1 billion at a $14.0 billion market cap. This VC-backed company provides a suite of solutions that standardize and automate the provisioning, securing, connecting, and running of cloud infrastructure at scale. While it has demonstrated rapid growth and a sticky customer base, HashiCorp is highly unprofitable due to S&M spend.\nCannabis finance REIT Chicago Atlantic Real Estate Finance(REFI) plans to raise $106 million at a $296 million market cap. This newly-formed REIT is focused on originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its current portfolio consists of senior loans to state-licensed operators in the cannabis industry.\nCanadian gold exploration company Austin Gold(AUST) plans to raise $15 million at a $64 million market cap. This Canadian gold exploration company currently has interests in four properties located in the state of Nevada, with just one property that it considers material at this time. Austin Gold has not generated any operating revenues to date.","news_type":1,"symbols_score_info":{"NU":0.9,"HCP":0.9,"REFI":0.9}},"isVote":1,"tweetType":1,"viewCount":1260,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608349317,"gmtCreate":1638636606349,"gmtModify":1638636606474,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Sigh","listText":"Sigh","text":"Sigh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/608349317","repostId":"2188578706","repostType":4,"isVote":1,"tweetType":1,"viewCount":1194,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600767237,"gmtCreate":1638198888360,"gmtModify":1638198888711,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/600767237","repostId":"1182524223","repostType":4,"repost":{"id":"1182524223","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":1638197006,"share":"https://www.laohunote.com/m/news/1182524223?lang=zh_CN&edition=full","pubTime":"2021-11-29 22:43","market":"us","language":"en","title":"Big tech shares jumped in morning trading<blockquote>大型科技股早盘交易中上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182524223","media":"Tiger Newspress","summary":"Big tech shares jumped in morning trading.Apple,Microsoft,Amazon,Alphabet and Meta Platforms climbed","content":"<p>Big tech shares jumped in morning trading.Apple,Microsoft,Amazon,Alphabet&nbsp;and&nbsp;Meta&nbsp;Platforms&nbsp;climbed between 1% and 2%.</p><p><blockquote>大型科技股在早盘交易中上涨.苹果、微软、亚马逊、Alphabet 和 Meta 平台的股价上涨了 1% 至 2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e646cfb67f62c007db16ed52e6712cd4\" tg-width=\"406\" tg-height=\"299\" 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>Big tech shares jumped in morning trading<blockquote>大型科技股早盘交易中上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBig tech shares jumped in morning trading<blockquote>大型科技股早盘交易中上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-29 22:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Big tech shares jumped in morning trading.Apple,Microsoft,Amazon,Alphabet&nbsp;and&nbsp;Meta&nbsp;Platforms&nbsp;climbed between 1% and 2%.</p><p><blockquote>大型科技股在早盘交易中上涨.苹果、微软、亚马逊、Alphabet 和 Meta 平台的股价上涨了 1% 至 2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e646cfb67f62c007db16ed52e6712cd4\" tg-width=\"406\" tg-height=\"299\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOGL":"谷歌A","AAPL":"苹果","FB":"ProShares S&P 500 Dynamic Buffer ETF","MSFT":"微软","AMZN":"亚马逊"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182524223","content_text":"Big tech shares jumped in morning trading.Apple,Microsoft,Amazon,Alphabet and Meta Platforms climbed between 1% and 2%.","news_type":1,"symbols_score_info":{"AAPL":0.9,"GOOGL":0.9,"AMZN":0.9,"FB":0.9,"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":1262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600030845,"gmtCreate":1637999990342,"gmtModify":1637999990453,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577450970953718","idStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600030845","repostId":"1137622508","repostType":4,"isVote":1,"tweetType":1,"viewCount":1303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":868651005,"gmtCreate":1632643377607,"gmtModify":1632646852176,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/868651005","repostId":"1189062967","repostType":4,"repost":{"id":"1189062967","kind":"news","pubTimestamp":1632642678,"share":"https://www.laohunote.com/m/news/1189062967?lang=zh_CN&edition=full","pubTime":"2021-09-26 15:51","market":"hk","language":"en","title":"Whole Foods Adds Service Fee for Amazon Prime Deliveries<blockquote>全食超市增加亚马逊 Prime 送货服务费</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189062967","media":"The street","summary":"Amazon's Whole Foods Market ends free deliveries for Amazon Prime members, as it will add a $9.95 se","content":"<p>Amazon's Whole Foods Market ends free deliveries for Amazon Prime members, as it will add a $9.95 service fee beginning in October.</p><p><blockquote>亚马逊的全食超市结束了对亚马逊Prime会员的免费送货，因为它将从10月份开始增加9.95美元的服务费。</blockquote></p><p> Amazon's&nbsp;(<b>AMZN</b>) -Get Amazon.com, Inc. Report&nbsp;Whole Foods Market is ending free deliveries for Amazon Prime members, as it will add a service fee beginning in October.</p><p><blockquote>亚马逊的（<b>亚马逊</b>) -Get 亚马逊公司报告称，全食超市将终止亚马逊 Prime 会员的免费送货服务，因为它将从 10 月份开始增加服务费。</blockquote></p><p> Amazon on Friday notified its Amazon Prime members that starting Oct. 25 it will charge a $9.95 service fee for Whole Foods delivery orders. Customers will also pay additional rush order fees for one-hour deliveries. Grocery pickup will still be free for Prime members on orders over $35.</p><p><blockquote>亚马逊周五通知其亚马逊Prime会员，从10月25日开始，将对全食超市的送货订单收取9.95美元的服务费。客户还将为一小时送达支付额外的加急订单费。对于超过35美元的订单，Prime会员仍然可以免费提货。</blockquote></p><p> The service fee is already in effect for deliveries in certain areas, including Portland, Maine; Providence, R.I.; Manchester, N.H.; and the greater Detroit, Boston and Chicago areas, according to Amazon's website.</p><p><blockquote>服务费已经在某些地区生效，包括缅因州波特兰；罗德岛州普罗维登斯；新罕布什尔州曼彻斯特；根据亚马逊的网站，以及大底特律、波士顿和芝加哥地区。</blockquote></p><p> Amazon asserted that the service fee helps cover operating costs, including equipment, technology and other costs associated with grocery delivery orders.</p><p><blockquote>亚马逊声称，服务费有助于支付运营成本，包括与杂货配送订单相关的设备、技术和其他成本。</blockquote></p><p> Amazon Fresh two-hour delivery and one-hour pickup remain free for Prime members on orders over $35. Rush orders will continue to include additional fees.</p><p><blockquote>Prime 会员订单超过 35 美元，可享受 Amazon Fresh 两小时送达和一小时取货服务。加急订单将继续包括额外费用。</blockquote></p><p> Austin, Texas-based Whole Foods, which was founded in 1980, is a leading natural and organic food store with over 500 locations in the U.S., Canada and U.K.</p><p><blockquote>总部位于德克萨斯州奥斯汀的全食超市成立于1980年，是一家领先的天然有机食品店，在美国、加拿大和英国拥有500多家分店。</blockquote></p><p> Amazon this week unveiled aCOVID-19 vaccination incentive programthat gives frontline workers a chance to win up to $500,000 cash and other prizes for getting the vaccine. Under the lottery system called Max Your Vax, the company offers 18 prizes, including two $500,000 cash awards, six $100,000 awards, five new vehicles, and five vacation packages.</p><p><blockquote>亚马逊本周推出了一项 COVID-19 疫苗接种激励计划，让一线工作人员有机会赢得高达 50 万美元的现金和其他接种疫苗奖励。根据名为 Max Your Vax 的彩票系统，该公司提供 18 个奖品，包括两个 50 万美元现金奖励、六个 10 万美元奖励、五辆新车和五个度假套餐。</blockquote></p><p> Shares of Amazon rose slightly to $3,426.90 in after hours trade.</p><p><blockquote>亚马逊股价在盘后交易中小幅上涨至 3,426.90 美元。</blockquote></p><p></p>","source":"lsy1610613172068","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>Whole Foods Adds Service Fee for Amazon Prime Deliveries<blockquote>全食超市增加亚马逊 Prime 送货服务费</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\">\nWhole Foods Adds Service Fee for Amazon Prime Deliveries<blockquote>全食超市增加亚马逊 Prime 送货服务费</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The street</strong><span class=\"h-time small\">2021-09-26 15:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Amazon's Whole Foods Market ends free deliveries for Amazon Prime members, as it will add a $9.95 service fee beginning in October.</p><p><blockquote>亚马逊的全食超市结束了对亚马逊Prime会员的免费送货，因为它将从10月份开始增加9.95美元的服务费。</blockquote></p><p> Amazon's&nbsp;(<b>AMZN</b>) -Get Amazon.com, Inc. Report&nbsp;Whole Foods Market is ending free deliveries for Amazon Prime members, as it will add a service fee beginning in October.</p><p><blockquote>亚马逊的（<b>亚马逊</b>) -Get 亚马逊公司报告称，全食超市将终止亚马逊 Prime 会员的免费送货服务，因为它将从 10 月份开始增加服务费。</blockquote></p><p> Amazon on Friday notified its Amazon Prime members that starting Oct. 25 it will charge a $9.95 service fee for Whole Foods delivery orders. Customers will also pay additional rush order fees for one-hour deliveries. Grocery pickup will still be free for Prime members on orders over $35.</p><p><blockquote>亚马逊周五通知其亚马逊Prime会员，从10月25日开始，将对全食超市的送货订单收取9.95美元的服务费。客户还将为一小时送达支付额外的加急订单费。对于超过35美元的订单，Prime会员仍然可以免费提货。</blockquote></p><p> The service fee is already in effect for deliveries in certain areas, including Portland, Maine; Providence, R.I.; Manchester, N.H.; and the greater Detroit, Boston and Chicago areas, according to Amazon's website.</p><p><blockquote>服务费已经在某些地区生效，包括缅因州波特兰；罗德岛州普罗维登斯；新罕布什尔州曼彻斯特；根据亚马逊的网站，以及大底特律、波士顿和芝加哥地区。</blockquote></p><p> Amazon asserted that the service fee helps cover operating costs, including equipment, technology and other costs associated with grocery delivery orders.</p><p><blockquote>亚马逊声称，服务费有助于支付运营成本，包括与杂货配送订单相关的设备、技术和其他成本。</blockquote></p><p> Amazon Fresh two-hour delivery and one-hour pickup remain free for Prime members on orders over $35. Rush orders will continue to include additional fees.</p><p><blockquote>Prime 会员订单超过 35 美元，可享受 Amazon Fresh 两小时送达和一小时取货服务。加急订单将继续包括额外费用。</blockquote></p><p> Austin, Texas-based Whole Foods, which was founded in 1980, is a leading natural and organic food store with over 500 locations in the U.S., Canada and U.K.</p><p><blockquote>总部位于德克萨斯州奥斯汀的全食超市成立于1980年，是一家领先的天然有机食品店，在美国、加拿大和英国拥有500多家分店。</blockquote></p><p> Amazon this week unveiled aCOVID-19 vaccination incentive programthat gives frontline workers a chance to win up to $500,000 cash and other prizes for getting the vaccine. Under the lottery system called Max Your Vax, the company offers 18 prizes, including two $500,000 cash awards, six $100,000 awards, five new vehicles, and five vacation packages.</p><p><blockquote>亚马逊本周推出了一项 COVID-19 疫苗接种激励计划，让一线工作人员有机会赢得高达 50 万美元的现金和其他接种疫苗奖励。根据名为 Max Your Vax 的彩票系统，该公司提供 18 个奖品，包括两个 50 万美元现金奖励、六个 10 万美元奖励、五辆新车和五个度假套餐。</blockquote></p><p> Shares of Amazon rose slightly to $3,426.90 in after hours trade.</p><p><blockquote>亚马逊股价在盘后交易中小幅上涨至 3,426.90 美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/whole-foods-adds-service-fee-for-amazon-prime-deliveries\">The street</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":{"AMZN":"亚马逊"},"source_url":"https://www.thestreet.com/investing/whole-foods-adds-service-fee-for-amazon-prime-deliveries","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189062967","content_text":"Amazon's Whole Foods Market ends free deliveries for Amazon Prime members, as it will add a $9.95 service fee beginning in October.\nAmazon's (AMZN) -Get Amazon.com, Inc. Report Whole Foods Market is ending free deliveries for Amazon Prime members, as it will add a service fee beginning in October.\nAmazon on Friday notified its Amazon Prime members that starting Oct. 25 it will charge a $9.95 service fee for Whole Foods delivery orders. Customers will also pay additional rush order fees for one-hour deliveries. Grocery pickup will still be free for Prime members on orders over $35.\nThe service fee is already in effect for deliveries in certain areas, including Portland, Maine; Providence, R.I.; Manchester, N.H.; and the greater Detroit, Boston and Chicago areas, according to Amazon's website.\nAmazon asserted that the service fee helps cover operating costs, including equipment, technology and other costs associated with grocery delivery orders.\nAmazon Fresh two-hour delivery and one-hour pickup remain free for Prime members on orders over $35. Rush orders will continue to include additional fees.\nAustin, Texas-based Whole Foods, which was founded in 1980, is a leading natural and organic food store with over 500 locations in the U.S., Canada and U.K.\nAmazon this week unveiled aCOVID-19 vaccination incentive programthat gives frontline workers a chance to win up to $500,000 cash and other prizes for getting the vaccine. Under the lottery system called Max Your Vax, the company offers 18 prizes, including two $500,000 cash awards, six $100,000 awards, five new vehicles, and five vacation packages.\nShares of Amazon rose slightly to $3,426.90 in after hours trade.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":667,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":154116217,"gmtCreate":1625488952639,"gmtModify":1633940262738,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/154116217","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohunote.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股市是开市还是休市？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年的7月4日是星期天，在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么主要市场在假期会开放还是关闭呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整收盘日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11 月 26 日星期五，交易时间为美国东部时间上午 9:30 至下午 1 点，为期半天多一点。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为美国东部时间上午 9:30 至下午 4 点。</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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股市是开市还是休市？</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\">\nIs the Stock Market Open or Closed on Independence Day?<blockquote>独立日股市是开市还是休市？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年的7月4日是星期天，在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么主要市场在假期会开放还是关闭呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整收盘日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11 月 26 日星期五，交易时间为美国东部时间上午 9:30 至下午 1 点，为期半天多一点。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为美国东部时间上午 9:30 至下午 4 点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":723,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153536184,"gmtCreate":1625033250148,"gmtModify":1633945599384,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Like n comment pls thanks&nbsp;","listText":"Like n comment pls thanks&nbsp;","text":"Like n comment pls thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/153536184","repostId":"1122418477","repostType":4,"isVote":1,"tweetType":1,"viewCount":655,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":842953688,"gmtCreate":1636126928052,"gmtModify":1636127027940,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Okie","listText":"Okie","text":"Okie","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/842953688","repostId":"1136116425","repostType":4,"repost":{"id":"1136116425","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":1636104081,"share":"https://www.laohunote.com/m/news/1136116425?lang=zh_CN&edition=full","pubTime":"2021-11-05 17:21","market":"us","language":"en","title":"U.S. Daylight Saving Time Ends on Sunday, Nov.7 2021<blockquote>美国夏令时于 2021 年 11 月 7 日星期日结束</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1136116425","media":"Tiger Newspress","summary":"Dear Tigers, U.S. Daylight Saving Time Ends on Sunday, Nov.7 2021,at 2:00 a.m.\nAt that time,the regu","content":"<p>Dear Tigers, U.S. Daylight Saving Time Ends on Sunday, Nov.7 2021,at 2:00&nbsp;a.m.</p><p><blockquote>亲爱的老虎们，美国夏令时于2021年11月7日周日凌晨2:00结束。</blockquote></p><p> At that time,the regular trading period of the US stock market will move toward by one hour, which will become 22:30 p.m.to 5:00 a.m（Beijing Time/SGT）. </p><p><blockquote>届时，美国股市的常规交易时段将提前一小时，即北京时间晚上22:30至凌晨5:00。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e441a1a98d5230fc31d6f1652e577bde\" tg-width=\"674\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Trading Hours</b></p><p><blockquote><b>交易时间</b></blockquote></p><p> U.S.&nbsp;Eastern Time:9:30 ~ 16:00; Beijing time /SGT :22:30 ~&nbsp;5:00 the next day</p><p><blockquote>美国东部时间：9:30~16:00；北京时间/SGT：22:30~次日5:00</blockquote></p><p> <b>pre-trade</b></p><p><blockquote><b>交易前</b></blockquote></p><p> U.S.&nbsp;Eastern Time:4:00 ~ 9:30;Beijing time/SGT :17:00&nbsp;~&nbsp;22:30</p><p><blockquote>美国东部时间：4:00~9:30；北京时间/SGT：17:00~22:30</blockquote></p><p> <b>post-trade</b></p><p><blockquote><b>交易后</b></blockquote></p><p> U.S.&nbsp;Eastern Time:16：00~20：00;Beijing time/SGT:5:00&nbsp;~&nbsp;9:00</p><p><blockquote>美国东部时间：16:00~20:00；北京时间/SGT：5:00~9:00</blockquote></p><p> (Note: Daylight saving time always begins on the second Sunday in March and ends on the first Sunday in November)</p><p><blockquote>（注：夏令时总是从三月的第二个星期日开始，到十一月的第一个星期日结束）</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Daylight Saving Time Ends on Sunday, Nov.7 2021<blockquote>美国夏令时于 2021 年 11 月 7 日星期日结束</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Daylight Saving Time Ends on Sunday, Nov.7 2021<blockquote>美国夏令时于 2021 年 11 月 7 日星期日结束</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-05 17:21</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Dear Tigers, U.S. Daylight Saving Time Ends on Sunday, Nov.7 2021,at 2:00&nbsp;a.m.</p><p><blockquote>亲爱的老虎们，美国夏令时于2021年11月7日周日凌晨2:00结束。</blockquote></p><p> At that time,the regular trading period of the US stock market will move toward by one hour, which will become 22:30 p.m.to 5:00 a.m（Beijing Time/SGT）. </p><p><blockquote>届时，美国股市的常规交易时段将提前一小时，即北京时间晚上22:30至凌晨5:00。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e441a1a98d5230fc31d6f1652e577bde\" tg-width=\"674\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Trading Hours</b></p><p><blockquote><b>交易时间</b></blockquote></p><p> U.S.&nbsp;Eastern Time:9:30 ~ 16:00; Beijing time /SGT :22:30 ~&nbsp;5:00 the next day</p><p><blockquote>美国东部时间：9:30~16:00；北京时间/SGT：22:30~次日5:00</blockquote></p><p> <b>pre-trade</b></p><p><blockquote><b>交易前</b></blockquote></p><p> U.S.&nbsp;Eastern Time:4:00 ~ 9:30;Beijing time/SGT :17:00&nbsp;~&nbsp;22:30</p><p><blockquote>美国东部时间：4:00~9:30；北京时间/SGT：17:00~22:30</blockquote></p><p> <b>post-trade</b></p><p><blockquote><b>交易后</b></blockquote></p><p> U.S.&nbsp;Eastern Time:16：00~20：00;Beijing time/SGT:5:00&nbsp;~&nbsp;9:00</p><p><blockquote>美国东部时间：16:00~20:00；北京时间/SGT：5:00~9:00</blockquote></p><p> (Note: Daylight saving time always begins on the second Sunday in March and ends on the first Sunday in November)</p><p><blockquote>（注：夏令时总是从三月的第二个星期日开始，到十一月的第一个星期日结束）</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136116425","content_text":"Dear Tigers, U.S. Daylight Saving Time Ends on Sunday, Nov.7 2021,at 2:00 a.m.\nAt that time,the regular trading period of the US stock market will move toward by one hour, which will become 22:30 p.m.to 5:00 a.m（Beijing Time/SGT）. \n\nTrading Hours\nU.S. Eastern Time:9:30 ~ 16:00; Beijing time /SGT :22:30 ~ 5:00 the next day\npre-trade\nU.S. Eastern Time:4:00 ~ 9:30;Beijing time/SGT :17:00 ~ 22:30\npost-trade\nU.S. Eastern Time:16：00~20：00;Beijing time/SGT:5:00 ~ 9:00\n(Note: Daylight saving time always begins on the second Sunday in March and ends on the first Sunday in November)","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":140798944,"gmtCreate":1625671735188,"gmtModify":1633938473765,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/140798944","repostId":"1133802649","repostType":4,"isVote":1,"tweetType":1,"viewCount":627,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158191367,"gmtCreate":1625134236559,"gmtModify":1633944429374,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/158191367","repostId":"1113357649","repostType":4,"repost":{"id":"1113357649","kind":"news","pubTimestamp":1625133776,"share":"https://www.laohunote.com/m/news/1113357649?lang=zh_CN&edition=full","pubTime":"2021-07-01 18:02","market":"us","language":"en","title":"Amazon: Undervalued With Potential Upside Of 25%<blockquote>亚马逊：被低估，潜在上涨空间为 25%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1113357649","media":"seekingalpha","summary":"Amazon is a unique and growing company that uses its disruptive platform to disrupt any new business it enters.I initiate Amazon with a bullish rating and a fair value of $3576/share .The company's improving top line and bottom line performance  suggests that the stock is currently undervalued by 3.9%.Amazon, a $1.74 trillion company. This is the current market capitalization  of the company and this implies that it is currently 15.18% away from being a $2 trillion company, not bad no?I initiate","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Amazon is a unique and growing company that uses its disruptive platform to disrupt any new business it enters.</li>  <li>I initiate Amazon with a bullish rating and a fair value of $3576/share (vs. the current price of $3443/share).</li>  <li>The company's improving top line and bottom line performance (which is expected to continue) suggests that the stock is currently undervalued by 3.9%.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51ce52baed5afae04a384059297465d3\" tg-width=\"1536\" tg-height=\"1024\"><span>Daria Nipot/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>亚马逊是一家独特且不断发展的公司，它利用其颠覆性平台来颠覆它进入的任何新业务。</li><li>我对亚马逊给予看涨评级，公允价值为3576美元/股（当前价格为3443美元/股）。</li><li>该公司不断改善的营收和利润表现（预计将持续）表明该股目前被低估 3.9%。</li></ul><p class=\"t-img-caption\"><span>Daria Nipot/iStock 社论来自 Getty Images</span></p></blockquote></p><p> <b>Company Overview</b></p><p><blockquote><b>公司概况</b></blockquote></p><p> Amazon(NASDAQ:AMZN), a $1.74 trillion company. This is the current market capitalization (as of 06/29/2021) of the company and this implies that it is currently 15.18% away from being a $2 trillion company, not bad no?</p><p><blockquote>亚马逊（纳斯达克股票代码：AMZN），一家市值 1.74 万亿美元的公司。这是该公司目前的市值（截至2021年6月29日），这意味着它目前距离成为一家2万亿美元的公司还有15.18%，不错吧？</blockquote></p><p> Amazon is a unique and growing company that uses its disruptive platform to disrupt any new business it enters. For example, when Amazon announced the acquisition of Whole Foods, Walmart(NYSE:WMT), Kroger(NYSE:KR), Target(NYSE:TGT)took a&nbsp;nice hit&nbsp;in market value. I believe that the company will be able to keep delivering strong top line growth and continued growth in margins, fueled not only by the company's current business expansion but also by entering into new markets and new businesses.</p><p><blockquote>亚马逊是一家独特且不断发展的公司，它利用其颠覆性平台来颠覆它进入的任何新业务。例如，当亚马逊宣布收购全食超市时，沃尔玛（纽约证券交易所股票代码：WMT）、克罗格（纽约证券交易所股票代码：KR）、塔吉特（纽约证券交易所股票代码：TGT）的市值受到了不小的打击。我相信，公司将能够继续实现强劲的营收增长和利润率的持续增长，这不仅得益于公司当前的业务扩张，还得益于进入新市场和新业务。</blockquote></p><p> <b>Company Analysis</b></p><p><blockquote><b>公司分析</b></blockquote></p><p> I initiate Amazon with a bullish rating and a fair value of $3576/share (vs. the current price of $3443/share). The FV is an algorithm-adjusted fair value (the algorithm takes into account fundamental and technical factors, such as DCF FV, momentum, etc.) and it implies that the stock is undervalued by 3.9%.</p><p><blockquote>我对亚马逊给予看涨评级，公允价值为3576美元/股（当前价格为3443美元/股）。FV 是算法调整后的公允价值（该算法考虑了基本面和技术因素，例如 DCF FV、动量等），这意味着该股票被低估了 3.9%。</blockquote></p><p> To compute the DCF FV, I used the trailing twelve-month numbers and I also restated the financials since I capitalized on R&amp;D expenses with an amortizable life of 3 years. As&nbsp;with Apple(NASDAQ:AAPL), I don't believe that Amazon's R&amp;D is an operating expense, and for this reason, I treat it as CapEx. By taking into account the R&amp;D, the following metrics have been restated (all numbers in $mm).</p><p><blockquote>为了计算 DCF FV，我使用了过去 12 个月的数字，并且还重述了财务数据，因为我将 R&amp;D 费用资本化，摊销年限为 3 年。与苹果（纳斯达克股票代码：AAPL）一样，我不认为亚马逊的研发是运营费用，因此我将其视为资本支出。考虑到研发，以下指标已重述（所有数字均以百万美元为单位）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb427d462596db1e1cb1ffc99acc90e4\" tg-width=\"571\" tg-height=\"240\"><span>Source:Author's estimates using data from the latest 10-K report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用最新 10-K 报告数据进行的估计</span></p></blockquote></p><p> Capitalizing on R&amp;D expenses, we have now a more clear picture of the company (i.e. the restated operating margin is now 9.03% TTM vs the non-restated operating margin is 6.63% TTM).</p><p><blockquote>利用R&amp;D费用，我们现在对公司有了更清晰的了解（即重述的营业利润率现在为9.03% TTM，而非重述的营业利润率为6.63% TTM）。</blockquote></p><p> <b>Discounted Cash Flow Model</b></p><p><blockquote><b>贴现现金流量模型</b></blockquote></p><p> Now, let's turn to the discounted cash flow valuation part. Below, you can see the results with the relative assumptions I have made.</p><p><blockquote>现在，让我们转向贴现现金流估值部分。下面，你可以看到我所做的相对假设的结果。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e215b21ca0b3be5a5e0e7b62e36fb5f\" tg-width=\"640\" tg-height=\"268\"><span>Source:Author's estimates using data from the latest 10-K report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用最新 10-K 报告数据进行的估计</span></p></blockquote></p><p> In my DCF model, I assume a revenue growth for the Y1 of 21.2%, a CAGR Y2-Y5 of 15% and I assume a terminal year growth rate of 1.48% (or the current yield on 10Y Treasury). The decision of using the current and not expected yield is due to the willingness to remain market neutral (perhaps you can use&nbsp;Goldman Sachs expectations&nbsp;of 1.9%). The current assumptions lead to revenues of $1,253,844 million in Y10.</p><p><blockquote>在我的 DCF 模型中，我假设第一年的收入增长率为 21.2%，第二年至第五年的复合年增长率为 15%，我假设最终年增长率为 1.48%（或 10 年期国债的当前收益率）。使用当前收益率而不是预期收益率的决定是由于愿意保持市场中立（也许你可以使用高盛1.9%的预期）。目前的假设导致 Y10 的收入为 12.538.44 亿美元。</blockquote></p><p> Along the road, I also assume an improving outlook for operating margins with the target operating margin of 13.2% (vs current restated operating margin of 9.03%). If the company will be able to meet this target, it will result in operating margins in Y10 of $163,097 million.</p><p><blockquote>在此过程中，我还假设营业利润率前景会有所改善，目标营业利润率为 13.2%（而当前重述营业利润率为 9.03%）。如果该公司能够实现这一目标，Y10 年的营业利润率将达到 1,630.97 亿美元。</blockquote></p><p> Finally, in doing my estimates, I used a WACC of 5.75% and a sales to capital ratio (or how much the company is going to reinvest to keep its business growing) of 2.95.</p><p><blockquote>最后，在进行估计时，我使用了 5.75% 的 WACC 和 2.95 的销售资本比率（或公司将再投资多少以保持业务增长）。</blockquote></p><p> By putting it together, I obtain a DCF value of $3328/share.</p><p><blockquote>把它放在一起，我得到了3328美元/股的DCF价值。</blockquote></p><p> <b>Monte Carlo Simulation</b></p><p><blockquote><b>蒙特卡罗模拟</b></blockquote></p><p> Rather than showing you only my point estimates, which may be right but also may be wrong, let's use probability distributions for inputs. Simulations allow us to assess the impact of continuous risk (e.g., changes in operating margins). In particular, I would like to focus on what I consider the main inputs of interest to get a bigger picture of the risk in the company. Those inputs are:</p><p><blockquote>与其只向你展示我的点估计，这可能是对的，也可能是错的，让我们使用概率分布作为输入。模拟使我们能够评估持续风险的影响（例如，营业利润率的变化）。特别是，我想重点关注我认为感兴趣的主要输入，以更好地了解公司的风险。这些投入是：</blockquote></p><p> <i>1. Revenue Growth:</i></p><p><blockquote><i>1.收入增长：</i></blockquote></p><p></p><p> In my DCF analysis, I assumed an expected CAGR Y2-Y5 of 15% with lower rates going forward. This assumption lead to revenues in Y10 of $1,253,844 million. While it is a reasonable assumption, Amazon is full of surprises, and it may deliver a top line growth well above my expectations. In the latter, I see a possible scenario with a CAGR Y2-Y5 of 24%, resulting in Y10 revenues of $1,989,952 million. However, we all know that regulators represent a big risk for the company. According to&nbsp;WSJ sources, if the \"giant-tech bill\" will pass, the company may be forced to either split into two companies or spin off its private-label product businesses. This represents a big risk that may slow down Amazon's growth, which could translate into a growth rate of 6% (resulting in Y10 revenues of $764,723 million). To sum up, I will assume a uniform distribution with a maximum of 24% and a minimum of 6%. The results are displayed below (this simulation and the next one have been performed 10,000 times).</p><p><blockquote>在我的 DCF 分析中，我假设 Y2-Y5 的预期复合年增长率为 15%，未来利率将会下降。这一假设导致 Y10 的收入为 12.538.44 亿美元。虽然这是一个合理的假设，但亚马逊充满了惊喜，它可能会带来远远超出我预期的营收增长。在后者中，我看到了一个可能的情况，CAGR Y2-Y5为24%，导致Y10收入为19.899.52亿美元。然而，我们都知道监管机构对公司来说是一个很大的风险。据《华尔街日报》消息人士透露，如果“巨型科技法案”获得通过，该公司可能被迫拆分为两家公司或剥离其自有品牌产品业务。这代表着一个巨大的风险，可能会减缓亚马逊的增长，这可能会转化为6%的增长率（导致Y10收入为7.647.23亿美元）。总而言之，我将假设均匀分布，最大为24%，最小为6%。结果显示在下面（这个模拟和下一个模拟已经执行了10,000次）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/893dff753c8ca210759feb31b3966a5c\" tg-width=\"640\" tg-height=\"235\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> <i>2. Operating Margin</i>:</p><p><blockquote><i>2.营业利润率</i>:</blockquote></p><p> Currently, Amazon has a restated operating margin of 9.03% TTM (vs not restated EBIT margin of 6.83%). In my DCF, I assumed a target operating margin of 13.2%. While this represents my most likely scenario for the company, I cannot close my eyes to the fact that, even if the company is improving its margins, it is following a very slow climb. Below, I display the non-restated EBIT margin for the last 5 years.</p><p><blockquote>目前，亚马逊的重述营业利润率为 9.03% TTM（未重述息税前利润率为 6.83%）。在我的 DCF 中，我假设目标营业利润率为 13.2%。虽然这代表了我对公司最有可能的情况，但我不能对这样一个事实视而不见：即使公司正在提高利润率，它的增长也非常缓慢。下面，我显示了过去 5 年未经重述的息税前利润率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6d66fcb05f4254b15de278f016121ffa\" tg-width=\"640\" tg-height=\"221\"><span>Source:SeekingAlpha.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：SeekingAlpha.com</span></p></blockquote></p><p> However, as I stated at the beginning, Amazon is a disruptive company with the ability to do extraordinary things. For instance, AWS presents a current operating margin of 30% TTM and a revenue growth rate of 29.53% in 2020. A trend which is expected to continue, driven by improving outlook and with new partners joining the party. The last to join the party are Ferrari(NYSE:RACE)and Swisscom(OTCPK:SWZCF)who have chosen AWS as their&nbsp;preferred cloud partner.</p><p><blockquote>然而，正如我在开头所说，亚马逊是一家具有颠覆性的公司，有能力做非凡的事情。例如，AWS目前的营业利润率为30%，2020年收入增长率为29.53%。在前景改善和新伙伴加入该党的推动下，这一趋势预计将继续下去。最后加入这一行列的是法拉利（纽约证券交易所股票代码：RACE）和瑞士电信（OTCPK：SWZCF），它们选择 AWS 作为首选云合作伙伴。</blockquote></p><p> In 2020,according to Gartner, AWS generated revenue 2 times bigger than Microsoft(NASDAQ:MSFT). As stated by Gartner:</p><p><blockquote>根据 Gartner 的数据，2020 年 AWS 的收入是微软（纳斯达克股票代码：MSFT）的两倍。正如Gartner所说：</blockquote></p><p>   <i>The worldwide</i>&nbsp;  <i>infrastructure as a service(IaaS) market grew 40.7% in 2020 to total $64.3 billion, up from $45.7 billion in 2019, according to Gartner, Inc. Amazon retained the No. 1 position in the IaaS market in 2020, followed by Microsoft, Alibaba, Google and Huawei... Amazon continued to lead the worldwide IaaS market with $26.2 billion of revenue in 2020 and 41% market share.</i>  <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ac00a17cbbd930ad6464a63f6d4f98eb\" tg-width=\"640\" tg-height=\"388\"><span>Source:Gartner.com</span></p><p><blockquote><i>全球</i> <i>根据Gartner，Inc.的数据，基础设施即服务（IaaS）市场在2020年增长了40.7%，总额从2019年的457亿美元增长到643亿美元。亚马逊在2020年保持了IaaS市场的第一位置，其次是微软、阿里巴巴-SW、谷歌和华为……亚马逊在2020年以262亿美元的收入和41%的市场份额继续引领全球IaaS市场。</i><p class=\"t-img-caption\"><span>资料来源：Gartner.com</span></p></blockquote></p><p> Finally, to account for my concerns and beliefs, I will assume a triangular distribution with the following limits: the likeliest target operating margin of 13.2%, a maximum of 18.4%, and a minimum of 8% (close to the current company's EBIT margin). The results are displayed below.</p><p><blockquote>最后，为了说明我的担忧和信念，我将假设一个具有以下限制的三角形分布：最有可能的目标营业利润率为13.2%，最大为18.4%，最小为8%（接近当前公司的息税前利润率）。结果显示如下。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/054e2db392be500768de741516186013\" tg-width=\"640\" tg-height=\"237\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> <i>3. Cost of Capital:</i></p><p><blockquote><i>3.资金成本：</i></blockquote></p><p> The last input of interest is the cost of capital. In doing my analysis, I estimated a cost of capital of 5.8% (with the current 10Y rate of 1.48 and an implied ERP of 4.54%). However, I may be wrong due to sector risk estimates or changes in the business mix (or both). To account for the possibility that I made some mistakes along the road, I will rely on a lognormal distribution with the most likely scenario of 5.8%. The results of the simulation are displayed below.</p><p><blockquote>利息的最后一个投入是资本成本。在进行分析时，我估计资本成本为 5.8%（当前 10 年利率为 1.48，隐含 ERP 为 4.54%）。然而，由于行业风险估计或业务组合的变化（或两者兼而有之），我可能是错误的。为了说明我在路上犯了一些错误的可能性，我将依赖于最有可能的情况为5.8%的对数正态分布。模拟结果如下所示。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a7d51740fa35eb9aedbc58c4c49d96eb\" tg-width=\"640\" tg-height=\"235\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> By putting all of this together, the simulations return the following results.</p><p><blockquote>通过将所有这些放在一起，模拟返回以下结果。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/139c89300706eab1e37dd1c992286d31\" tg-width=\"640\" tg-height=\"222\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> For completeness, I also display below the relative and cumulative frequency of the simulation.</p><p><blockquote>为了完整起见，我还在下面显示了模拟的相对频率和累积频率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af7a908e21b8678a775a3e1742161a7d\" tg-width=\"573\" tg-height=\"644\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> By looking at the results, we can see that the 50th percentile or the median is equal to $3274, close to the expected DCF FV of $3328. While the algorithm-adjusted FV of $3576 is the 60th percentile in my simulations (note also the long right tail).</p><p><blockquote>通过查看结果，我们可以看到第 50 个百分位数或中位数等于 3274 美元，接近预期的 DCF FV 3328 美元。而算法调整后的 FV 为 3576 美元，是我模拟中的第 60 个百分位数（还要注意长长的右尾）。</blockquote></p><p></p><p> Finally, simulation results give us an interesting insight into a potential exit point. I believe that an interesting take profit point may be within the 80th percentile, which implies a potential upside of 24.89%. Why within the 80th percentile? I believe that, after reaching the $2.0 trillion company status, we will see the last climb of euphoria before investors start to take profits.</p><p><blockquote>最后，模拟结果让我们对潜在的退出点有了有趣的了解。我相信一个有趣的止盈点可能在第 80 个百分位内，这意味着潜在的上涨空间为 24.89%。为什么在第80个百分位以内？我相信，在达到 2.0 万亿美元的公司地位后，我们将看到投资者开始获利了结之前的最后一次兴奋。</blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Both the algorithm-adjusted fair value and the Monte Carlo simulation suggest and support the bullish rating. The results found suggest that the stock is currently undervalued and that the company has still more room to go. What may drive the price to go higher? Well, there are different factors that may drive it. One of those is for sure corporate news. For instance, the company may introduce new products or announce a stock split (For the latter, I think this is unlikely, at least not now). However, don't forget also the other side, the risks. There are many risks associated with being invested in the company, one of those is represented by antitrust and regulators.</p><p><blockquote>算法调整后的公允价值和蒙特卡罗模拟都建议并支持看涨评级。结果表明，该股目前被低估，该公司仍有更大的发展空间。什么可能会推动价格上涨？嗯，有不同的因素可能会驱动它。其中之一肯定是企业新闻。例如，公司可能会推出新产品或宣布股票分割（对于后者，我认为这不太可能，至少现在不会）。然而，不要忘记另一面，风险。投资该公司存在许多风险，其中之一就是反垄断和监管机构。</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>Amazon: Undervalued With Potential Upside Of 25%<blockquote>亚马逊：被低估，潜在上涨空间为 25%</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\">\nAmazon: Undervalued With Potential Upside Of 25%<blockquote>亚马逊：被低估，潜在上涨空间为 25%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-01 18:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Amazon is a unique and growing company that uses its disruptive platform to disrupt any new business it enters.</li>  <li>I initiate Amazon with a bullish rating and a fair value of $3576/share (vs. the current price of $3443/share).</li>  <li>The company's improving top line and bottom line performance (which is expected to continue) suggests that the stock is currently undervalued by 3.9%.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51ce52baed5afae04a384059297465d3\" tg-width=\"1536\" tg-height=\"1024\"><span>Daria Nipot/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>亚马逊是一家独特且不断发展的公司，它利用其颠覆性平台来颠覆它进入的任何新业务。</li><li>我对亚马逊给予看涨评级，公允价值为3576美元/股（当前价格为3443美元/股）。</li><li>该公司不断改善的营收和利润表现（预计将持续）表明该股目前被低估 3.9%。</li></ul><p class=\"t-img-caption\"><span>Daria Nipot/iStock 社论来自 Getty Images</span></p></blockquote></p><p> <b>Company Overview</b></p><p><blockquote><b>公司概况</b></blockquote></p><p> Amazon(NASDAQ:AMZN), a $1.74 trillion company. This is the current market capitalization (as of 06/29/2021) of the company and this implies that it is currently 15.18% away from being a $2 trillion company, not bad no?</p><p><blockquote>亚马逊（纳斯达克股票代码：AMZN），一家市值 1.74 万亿美元的公司。这是该公司目前的市值（截至2021年6月29日），这意味着它目前距离成为一家2万亿美元的公司还有15.18%，不错吧？</blockquote></p><p> Amazon is a unique and growing company that uses its disruptive platform to disrupt any new business it enters. For example, when Amazon announced the acquisition of Whole Foods, Walmart(NYSE:WMT), Kroger(NYSE:KR), Target(NYSE:TGT)took a&nbsp;nice hit&nbsp;in market value. I believe that the company will be able to keep delivering strong top line growth and continued growth in margins, fueled not only by the company's current business expansion but also by entering into new markets and new businesses.</p><p><blockquote>亚马逊是一家独特且不断发展的公司，它利用其颠覆性平台来颠覆它进入的任何新业务。例如，当亚马逊宣布收购全食超市时，沃尔玛（纽约证券交易所股票代码：WMT）、克罗格（纽约证券交易所股票代码：KR）、塔吉特（纽约证券交易所股票代码：TGT）的市值受到了不小的打击。我相信，公司将能够继续实现强劲的营收增长和利润率的持续增长，这不仅得益于公司当前的业务扩张，还得益于进入新市场和新业务。</blockquote></p><p> <b>Company Analysis</b></p><p><blockquote><b>公司分析</b></blockquote></p><p> I initiate Amazon with a bullish rating and a fair value of $3576/share (vs. the current price of $3443/share). The FV is an algorithm-adjusted fair value (the algorithm takes into account fundamental and technical factors, such as DCF FV, momentum, etc.) and it implies that the stock is undervalued by 3.9%.</p><p><blockquote>我对亚马逊给予看涨评级，公允价值为3576美元/股（当前价格为3443美元/股）。FV 是算法调整后的公允价值（该算法考虑了基本面和技术因素，例如 DCF FV、动量等），这意味着该股票被低估了 3.9%。</blockquote></p><p> To compute the DCF FV, I used the trailing twelve-month numbers and I also restated the financials since I capitalized on R&amp;D expenses with an amortizable life of 3 years. As&nbsp;with Apple(NASDAQ:AAPL), I don't believe that Amazon's R&amp;D is an operating expense, and for this reason, I treat it as CapEx. By taking into account the R&amp;D, the following metrics have been restated (all numbers in $mm).</p><p><blockquote>为了计算 DCF FV，我使用了过去 12 个月的数字，并且还重述了财务数据，因为我将 R&amp;D 费用资本化，摊销年限为 3 年。与苹果（纳斯达克股票代码：AAPL）一样，我不认为亚马逊的研发是运营费用，因此我将其视为资本支出。考虑到研发，以下指标已重述（所有数字均以百万美元为单位）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb427d462596db1e1cb1ffc99acc90e4\" tg-width=\"571\" tg-height=\"240\"><span>Source:Author's estimates using data from the latest 10-K report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用最新 10-K 报告数据进行的估计</span></p></blockquote></p><p> Capitalizing on R&amp;D expenses, we have now a more clear picture of the company (i.e. the restated operating margin is now 9.03% TTM vs the non-restated operating margin is 6.63% TTM).</p><p><blockquote>利用R&amp;D费用，我们现在对公司有了更清晰的了解（即重述的营业利润率现在为9.03% TTM，而非重述的营业利润率为6.63% TTM）。</blockquote></p><p> <b>Discounted Cash Flow Model</b></p><p><blockquote><b>贴现现金流量模型</b></blockquote></p><p> Now, let's turn to the discounted cash flow valuation part. Below, you can see the results with the relative assumptions I have made.</p><p><blockquote>现在，让我们转向贴现现金流估值部分。下面，你可以看到我所做的相对假设的结果。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e215b21ca0b3be5a5e0e7b62e36fb5f\" tg-width=\"640\" tg-height=\"268\"><span>Source:Author's estimates using data from the latest 10-K report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用最新 10-K 报告数据进行的估计</span></p></blockquote></p><p> In my DCF model, I assume a revenue growth for the Y1 of 21.2%, a CAGR Y2-Y5 of 15% and I assume a terminal year growth rate of 1.48% (or the current yield on 10Y Treasury). The decision of using the current and not expected yield is due to the willingness to remain market neutral (perhaps you can use&nbsp;Goldman Sachs expectations&nbsp;of 1.9%). The current assumptions lead to revenues of $1,253,844 million in Y10.</p><p><blockquote>在我的 DCF 模型中，我假设第一年的收入增长率为 21.2%，第二年至第五年的复合年增长率为 15%，我假设最终年增长率为 1.48%（或 10 年期国债的当前收益率）。使用当前收益率而不是预期收益率的决定是由于愿意保持市场中立（也许你可以使用高盛1.9%的预期）。目前的假设导致 Y10 的收入为 12.538.44 亿美元。</blockquote></p><p> Along the road, I also assume an improving outlook for operating margins with the target operating margin of 13.2% (vs current restated operating margin of 9.03%). If the company will be able to meet this target, it will result in operating margins in Y10 of $163,097 million.</p><p><blockquote>在此过程中，我还假设营业利润率前景会有所改善，目标营业利润率为 13.2%（而当前重述营业利润率为 9.03%）。如果该公司能够实现这一目标，Y10 年的营业利润率将达到 1,630.97 亿美元。</blockquote></p><p> Finally, in doing my estimates, I used a WACC of 5.75% and a sales to capital ratio (or how much the company is going to reinvest to keep its business growing) of 2.95.</p><p><blockquote>最后，在进行估计时，我使用了 5.75% 的 WACC 和 2.95 的销售资本比率（或公司将再投资多少以保持业务增长）。</blockquote></p><p> By putting it together, I obtain a DCF value of $3328/share.</p><p><blockquote>把它放在一起，我得到了3328美元/股的DCF价值。</blockquote></p><p> <b>Monte Carlo Simulation</b></p><p><blockquote><b>蒙特卡罗模拟</b></blockquote></p><p> Rather than showing you only my point estimates, which may be right but also may be wrong, let's use probability distributions for inputs. Simulations allow us to assess the impact of continuous risk (e.g., changes in operating margins). In particular, I would like to focus on what I consider the main inputs of interest to get a bigger picture of the risk in the company. Those inputs are:</p><p><blockquote>与其只向你展示我的点估计，这可能是对的，也可能是错的，让我们使用概率分布作为输入。模拟使我们能够评估持续风险的影响（例如，营业利润率的变化）。特别是，我想重点关注我认为感兴趣的主要输入，以更好地了解公司的风险。这些投入是：</blockquote></p><p> <i>1. Revenue Growth:</i></p><p><blockquote><i>1.收入增长：</i></blockquote></p><p></p><p> In my DCF analysis, I assumed an expected CAGR Y2-Y5 of 15% with lower rates going forward. This assumption lead to revenues in Y10 of $1,253,844 million. While it is a reasonable assumption, Amazon is full of surprises, and it may deliver a top line growth well above my expectations. In the latter, I see a possible scenario with a CAGR Y2-Y5 of 24%, resulting in Y10 revenues of $1,989,952 million. However, we all know that regulators represent a big risk for the company. According to&nbsp;WSJ sources, if the \"giant-tech bill\" will pass, the company may be forced to either split into two companies or spin off its private-label product businesses. This represents a big risk that may slow down Amazon's growth, which could translate into a growth rate of 6% (resulting in Y10 revenues of $764,723 million). To sum up, I will assume a uniform distribution with a maximum of 24% and a minimum of 6%. The results are displayed below (this simulation and the next one have been performed 10,000 times).</p><p><blockquote>在我的 DCF 分析中，我假设 Y2-Y5 的预期复合年增长率为 15%，未来利率将会下降。这一假设导致 Y10 的收入为 12.538.44 亿美元。虽然这是一个合理的假设，但亚马逊充满了惊喜，它可能会带来远远超出我预期的营收增长。在后者中，我看到了一个可能的情况，CAGR Y2-Y5为24%，导致Y10收入为19.899.52亿美元。然而，我们都知道监管机构对公司来说是一个很大的风险。据《华尔街日报》消息人士透露，如果“巨型科技法案”获得通过，该公司可能被迫拆分为两家公司或剥离其自有品牌产品业务。这代表着一个巨大的风险，可能会减缓亚马逊的增长，这可能会转化为6%的增长率（导致Y10收入为7.647.23亿美元）。总而言之，我将假设均匀分布，最大为24%，最小为6%。结果显示在下面（这个模拟和下一个模拟已经执行了10,000次）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/893dff753c8ca210759feb31b3966a5c\" tg-width=\"640\" tg-height=\"235\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> <i>2. Operating Margin</i>:</p><p><blockquote><i>2.营业利润率</i>:</blockquote></p><p> Currently, Amazon has a restated operating margin of 9.03% TTM (vs not restated EBIT margin of 6.83%). In my DCF, I assumed a target operating margin of 13.2%. While this represents my most likely scenario for the company, I cannot close my eyes to the fact that, even if the company is improving its margins, it is following a very slow climb. Below, I display the non-restated EBIT margin for the last 5 years.</p><p><blockquote>目前，亚马逊的重述营业利润率为 9.03% TTM（未重述息税前利润率为 6.83%）。在我的 DCF 中，我假设目标营业利润率为 13.2%。虽然这代表了我对公司最有可能的情况，但我不能对这样一个事实视而不见：即使公司正在提高利润率，它的增长也非常缓慢。下面，我显示了过去 5 年未经重述的息税前利润率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6d66fcb05f4254b15de278f016121ffa\" tg-width=\"640\" tg-height=\"221\"><span>Source:SeekingAlpha.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：SeekingAlpha.com</span></p></blockquote></p><p> However, as I stated at the beginning, Amazon is a disruptive company with the ability to do extraordinary things. For instance, AWS presents a current operating margin of 30% TTM and a revenue growth rate of 29.53% in 2020. A trend which is expected to continue, driven by improving outlook and with new partners joining the party. The last to join the party are Ferrari(NYSE:RACE)and Swisscom(OTCPK:SWZCF)who have chosen AWS as their&nbsp;preferred cloud partner.</p><p><blockquote>然而，正如我在开头所说，亚马逊是一家具有颠覆性的公司，有能力做非凡的事情。例如，AWS目前的营业利润率为30%，2020年收入增长率为29.53%。在前景改善和新伙伴加入该党的推动下，这一趋势预计将继续下去。最后加入这一行列的是法拉利（纽约证券交易所股票代码：RACE）和瑞士电信（OTCPK：SWZCF），它们选择 AWS 作为首选云合作伙伴。</blockquote></p><p> In 2020,according to Gartner, AWS generated revenue 2 times bigger than Microsoft(NASDAQ:MSFT). As stated by Gartner:</p><p><blockquote>根据 Gartner 的数据，2020 年 AWS 的收入是微软（纳斯达克股票代码：MSFT）的两倍。正如Gartner所说：</blockquote></p><p>   <i>The worldwide</i>&nbsp;  <i>infrastructure as a service(IaaS) market grew 40.7% in 2020 to total $64.3 billion, up from $45.7 billion in 2019, according to Gartner, Inc. Amazon retained the No. 1 position in the IaaS market in 2020, followed by Microsoft, Alibaba, Google and Huawei... Amazon continued to lead the worldwide IaaS market with $26.2 billion of revenue in 2020 and 41% market share.</i>  <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ac00a17cbbd930ad6464a63f6d4f98eb\" tg-width=\"640\" tg-height=\"388\"><span>Source:Gartner.com</span></p><p><blockquote><i>全球</i> <i>根据Gartner，Inc.的数据，基础设施即服务（IaaS）市场在2020年增长了40.7%，总额从2019年的457亿美元增长到643亿美元。亚马逊在2020年保持了IaaS市场的第一位置，其次是微软、阿里巴巴-SW、谷歌和华为……亚马逊在2020年以262亿美元的收入和41%的市场份额继续引领全球IaaS市场。</i><p class=\"t-img-caption\"><span>资料来源：Gartner.com</span></p></blockquote></p><p> Finally, to account for my concerns and beliefs, I will assume a triangular distribution with the following limits: the likeliest target operating margin of 13.2%, a maximum of 18.4%, and a minimum of 8% (close to the current company's EBIT margin). The results are displayed below.</p><p><blockquote>最后，为了说明我的担忧和信念，我将假设一个具有以下限制的三角形分布：最有可能的目标营业利润率为13.2%，最大为18.4%，最小为8%（接近当前公司的息税前利润率）。结果显示如下。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/054e2db392be500768de741516186013\" tg-width=\"640\" tg-height=\"237\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> <i>3. Cost of Capital:</i></p><p><blockquote><i>3.资金成本：</i></blockquote></p><p> The last input of interest is the cost of capital. In doing my analysis, I estimated a cost of capital of 5.8% (with the current 10Y rate of 1.48 and an implied ERP of 4.54%). However, I may be wrong due to sector risk estimates or changes in the business mix (or both). To account for the possibility that I made some mistakes along the road, I will rely on a lognormal distribution with the most likely scenario of 5.8%. The results of the simulation are displayed below.</p><p><blockquote>利息的最后一个投入是资本成本。在进行分析时，我估计资本成本为 5.8%（当前 10 年利率为 1.48，隐含 ERP 为 4.54%）。然而，由于行业风险估计或业务组合的变化（或两者兼而有之），我可能是错误的。为了说明我在路上犯了一些错误的可能性，我将依赖于最有可能的情况为5.8%的对数正态分布。模拟结果如下所示。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a7d51740fa35eb9aedbc58c4c49d96eb\" tg-width=\"640\" tg-height=\"235\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> By putting all of this together, the simulations return the following results.</p><p><blockquote>通过将所有这些放在一起，模拟返回以下结果。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/139c89300706eab1e37dd1c992286d31\" tg-width=\"640\" tg-height=\"222\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> For completeness, I also display below the relative and cumulative frequency of the simulation.</p><p><blockquote>为了完整起见，我还在下面显示了模拟的相对频率和累积频率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af7a908e21b8678a775a3e1742161a7d\" tg-width=\"573\" tg-height=\"644\"><span>Source:Author's estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者的估计</span></p></blockquote></p><p> By looking at the results, we can see that the 50th percentile or the median is equal to $3274, close to the expected DCF FV of $3328. While the algorithm-adjusted FV of $3576 is the 60th percentile in my simulations (note also the long right tail).</p><p><blockquote>通过查看结果，我们可以看到第 50 个百分位数或中位数等于 3274 美元，接近预期的 DCF FV 3328 美元。而算法调整后的 FV 为 3576 美元，是我模拟中的第 60 个百分位数（还要注意长长的右尾）。</blockquote></p><p></p><p> Finally, simulation results give us an interesting insight into a potential exit point. I believe that an interesting take profit point may be within the 80th percentile, which implies a potential upside of 24.89%. Why within the 80th percentile? I believe that, after reaching the $2.0 trillion company status, we will see the last climb of euphoria before investors start to take profits.</p><p><blockquote>最后，模拟结果让我们对潜在的退出点有了有趣的了解。我相信一个有趣的止盈点可能在第 80 个百分位内，这意味着潜在的上涨空间为 24.89%。为什么在第80个百分位以内？我相信，在达到 2.0 万亿美元的公司地位后，我们将看到投资者开始获利了结之前的最后一次兴奋。</blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Both the algorithm-adjusted fair value and the Monte Carlo simulation suggest and support the bullish rating. The results found suggest that the stock is currently undervalued and that the company has still more room to go. What may drive the price to go higher? Well, there are different factors that may drive it. One of those is for sure corporate news. For instance, the company may introduce new products or announce a stock split (For the latter, I think this is unlikely, at least not now). However, don't forget also the other side, the risks. There are many risks associated with being invested in the company, one of those is represented by antitrust and regulators.</p><p><blockquote>算法调整后的公允价值和蒙特卡罗模拟都建议并支持看涨评级。结果表明，该股目前被低估，该公司仍有更大的发展空间。什么可能会推动价格上涨？嗯，有不同的因素可能会驱动它。其中之一肯定是企业新闻。例如，公司可能会推出新产品或宣布股票分割（对于后者，我认为这不太可能，至少现在不会）。然而，不要忘记另一面，风险。投资该公司存在许多风险，其中之一就是反垄断和监管机构。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4437291-amazon-stock-amzn-undervalued-with-potential-upside-of-25-percent\">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":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/article/4437291-amazon-stock-amzn-undervalued-with-potential-upside-of-25-percent","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113357649","content_text":"Summary\n\nAmazon is a unique and growing company that uses its disruptive platform to disrupt any new business it enters.\nI initiate Amazon with a bullish rating and a fair value of $3576/share (vs. the current price of $3443/share).\nThe company's improving top line and bottom line performance (which is expected to continue) suggests that the stock is currently undervalued by 3.9%.\n\nDaria Nipot/iStock Editorial via Getty Images\nCompany Overview\nAmazon(NASDAQ:AMZN), a $1.74 trillion company. This is the current market capitalization (as of 06/29/2021) of the company and this implies that it is currently 15.18% away from being a $2 trillion company, not bad no?\nAmazon is a unique and growing company that uses its disruptive platform to disrupt any new business it enters. For example, when Amazon announced the acquisition of Whole Foods, Walmart(NYSE:WMT), Kroger(NYSE:KR), Target(NYSE:TGT)took a nice hit in market value. I believe that the company will be able to keep delivering strong top line growth and continued growth in margins, fueled not only by the company's current business expansion but also by entering into new markets and new businesses.\nCompany Analysis\nI initiate Amazon with a bullish rating and a fair value of $3576/share (vs. the current price of $3443/share). The FV is an algorithm-adjusted fair value (the algorithm takes into account fundamental and technical factors, such as DCF FV, momentum, etc.) and it implies that the stock is undervalued by 3.9%.\nTo compute the DCF FV, I used the trailing twelve-month numbers and I also restated the financials since I capitalized on R&D expenses with an amortizable life of 3 years. As with Apple(NASDAQ:AAPL), I don't believe that Amazon's R&D is an operating expense, and for this reason, I treat it as CapEx. By taking into account the R&D, the following metrics have been restated (all numbers in $mm).\nSource:Author's estimates using data from the latest 10-K report\nCapitalizing on R&D expenses, we have now a more clear picture of the company (i.e. the restated operating margin is now 9.03% TTM vs the non-restated operating margin is 6.63% TTM).\nDiscounted Cash Flow Model\nNow, let's turn to the discounted cash flow valuation part. Below, you can see the results with the relative assumptions I have made.\nSource:Author's estimates using data from the latest 10-K report\nIn my DCF model, I assume a revenue growth for the Y1 of 21.2%, a CAGR Y2-Y5 of 15% and I assume a terminal year growth rate of 1.48% (or the current yield on 10Y Treasury). The decision of using the current and not expected yield is due to the willingness to remain market neutral (perhaps you can use Goldman Sachs expectations of 1.9%). The current assumptions lead to revenues of $1,253,844 million in Y10.\nAlong the road, I also assume an improving outlook for operating margins with the target operating margin of 13.2% (vs current restated operating margin of 9.03%). If the company will be able to meet this target, it will result in operating margins in Y10 of $163,097 million.\nFinally, in doing my estimates, I used a WACC of 5.75% and a sales to capital ratio (or how much the company is going to reinvest to keep its business growing) of 2.95.\nBy putting it together, I obtain a DCF value of $3328/share.\nMonte Carlo Simulation\nRather than showing you only my point estimates, which may be right but also may be wrong, let's use probability distributions for inputs. Simulations allow us to assess the impact of continuous risk (e.g., changes in operating margins). In particular, I would like to focus on what I consider the main inputs of interest to get a bigger picture of the risk in the company. Those inputs are:\n1. Revenue Growth:\nIn my DCF analysis, I assumed an expected CAGR Y2-Y5 of 15% with lower rates going forward. This assumption lead to revenues in Y10 of $1,253,844 million. While it is a reasonable assumption, Amazon is full of surprises, and it may deliver a top line growth well above my expectations. In the latter, I see a possible scenario with a CAGR Y2-Y5 of 24%, resulting in Y10 revenues of $1,989,952 million. However, we all know that regulators represent a big risk for the company. According to WSJ sources, if the \"giant-tech bill\" will pass, the company may be forced to either split into two companies or spin off its private-label product businesses. This represents a big risk that may slow down Amazon's growth, which could translate into a growth rate of 6% (resulting in Y10 revenues of $764,723 million). To sum up, I will assume a uniform distribution with a maximum of 24% and a minimum of 6%. The results are displayed below (this simulation and the next one have been performed 10,000 times).\nSource:Author's estimates\n2. Operating Margin:\nCurrently, Amazon has a restated operating margin of 9.03% TTM (vs not restated EBIT margin of 6.83%). In my DCF, I assumed a target operating margin of 13.2%. While this represents my most likely scenario for the company, I cannot close my eyes to the fact that, even if the company is improving its margins, it is following a very slow climb. Below, I display the non-restated EBIT margin for the last 5 years.\nSource:SeekingAlpha.com\nHowever, as I stated at the beginning, Amazon is a disruptive company with the ability to do extraordinary things. For instance, AWS presents a current operating margin of 30% TTM and a revenue growth rate of 29.53% in 2020. A trend which is expected to continue, driven by improving outlook and with new partners joining the party. The last to join the party are Ferrari(NYSE:RACE)and Swisscom(OTCPK:SWZCF)who have chosen AWS as their preferred cloud partner.\nIn 2020,according to Gartner, AWS generated revenue 2 times bigger than Microsoft(NASDAQ:MSFT). As stated by Gartner:\n\nThe worldwide \n infrastructure as a service(IaaS) market grew 40.7% in 2020 to total $64.3 billion, up from $45.7 billion in 2019, according to Gartner, Inc. Amazon retained the No. 1 position in the IaaS market in 2020, followed by Microsoft, Alibaba, Google and Huawei... Amazon continued to lead the worldwide IaaS market with $26.2 billion of revenue in 2020 and 41% market share.\n\nSource:Gartner.com\nFinally, to account for my concerns and beliefs, I will assume a triangular distribution with the following limits: the likeliest target operating margin of 13.2%, a maximum of 18.4%, and a minimum of 8% (close to the current company's EBIT margin). The results are displayed below.\nSource:Author's estimates\n3. Cost of Capital:\nThe last input of interest is the cost of capital. In doing my analysis, I estimated a cost of capital of 5.8% (with the current 10Y rate of 1.48 and an implied ERP of 4.54%). However, I may be wrong due to sector risk estimates or changes in the business mix (or both). To account for the possibility that I made some mistakes along the road, I will rely on a lognormal distribution with the most likely scenario of 5.8%. The results of the simulation are displayed below.\nSource:Author's estimates\nBy putting all of this together, the simulations return the following results.\nSource:Author's estimates\nFor completeness, I also display below the relative and cumulative frequency of the simulation.\nSource:Author's estimates\nBy looking at the results, we can see that the 50th percentile or the median is equal to $3274, close to the expected DCF FV of $3328. While the algorithm-adjusted FV of $3576 is the 60th percentile in my simulations (note also the long right tail).\nFinally, simulation results give us an interesting insight into a potential exit point. I believe that an interesting take profit point may be within the 80th percentile, which implies a potential upside of 24.89%. Why within the 80th percentile? I believe that, after reaching the $2.0 trillion company status, we will see the last climb of euphoria before investors start to take profits.\nFinal Thoughts\nBoth the algorithm-adjusted fair value and the Monte Carlo simulation suggest and support the bullish rating. The results found suggest that the stock is currently undervalued and that the company has still more room to go. What may drive the price to go higher? Well, there are different factors that may drive it. One of those is for sure corporate news. For instance, the company may introduce new products or announce a stock split (For the latter, I think this is unlikely, at least not now). However, don't forget also the other side, the risks. There are many risks associated with being invested in the company, one of those is represented by antitrust and regulators.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":863439845,"gmtCreate":1632410470387,"gmtModify":1632730375637,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/863439845","repostId":"1162776746","repostType":4,"isVote":1,"tweetType":1,"viewCount":616,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155307995,"gmtCreate":1625372889517,"gmtModify":1633941129554,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/155307995","repostId":"1160702483","repostType":4,"isVote":1,"tweetType":1,"viewCount":605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171352314,"gmtCreate":1626707910438,"gmtModify":1633924731908,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Comment pls","listText":"Comment pls","text":"Comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171352314","repostId":"1146536243","repostType":4,"repost":{"id":"1146536243","kind":"news","pubTimestamp":1626683272,"share":"https://www.laohunote.com/m/news/1146536243?lang=zh_CN&edition=full","pubTime":"2021-07-19 16:27","market":"us","language":"en","title":"Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：这个周期将比往常“更热但更短”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146536243","media":"zerohedge","summary":"This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","content":"<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为本轮经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到了市场的激烈争论。每一个都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情创造了有记录以来产出最急剧下降的一次。随后，在政策支持的帮助下，活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种剧烈的下跌和上涨从来不允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场上的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得平滑和打磨。2003-07年的周期以大萧条以来最大的银行和房地产危机告终。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言表的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么要使用 “周期 ”这个词。经济和市场倾向于遵循周期性模式，这种模式往往会出现在市场表现中。我们关心的是这些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的经济衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等后期周期条件？确实如此。由此产生的股票、信贷、收益率和收益率曲线的低谷是否与市场和经济低点之间的通常节奏相匹配？他们做到了。随后反弹的领头羊是通常的早期周期赢家吗，比如小盘股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者像这些事情实际上一样正常。如果到目前为止已经出现了很多“正常”的循环行为，它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏进展，这些模式应该会改变。正如我的同事迈克尔·威尔逊 (Michael Wilson) 指出的那样，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅 16 个月。我们看到当前情况与 2004 年上半年有许多相似之处，上半年是继大规模通货膨胀反弹之后的中期周期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（参见2021年7月11日的增长恐慌周年纪念日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为总能找到适合自己特定周期观点的指标，所以我们一直都喜欢复合指标。这就是我们的 “周期模型”，它结合了宏观经济、信贷周期和企业侵略性的十项美国指标，以衡量我们在市场周期中的位置。在 2019 年 6 月进入周期后期 “低迷 ”和 2020 年 4 月进入周期早期 “修复 ”之后，该指数一路飙升。<b>它的崛起如此之快，以至于刚刚度过了下一阶段（'复苏'），直接进入了'扩张'。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>不寻常的论文。“扩展 ”意味着捕捉 “比正常情况更好，并且正在改善 ”的条件、<b>自1980年以来，“经济衰退”结束后平均需要35个月才能到达那里</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这就是我们的论点，也体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，相对于其他风险资产，信贷越差；信贷从“繁荣”中获得的收益较少，如果下一次经济衰退提前，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多供应</b>.在我们的周期模型的“扩张”阶段，美国IG和HY信贷N1200万超额回报率分别比平均水平差29bp和161bp。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现更加喜忧参半</b>投资者应尝试承担违约风险而不是利差风险：我们的信贷策略师喜欢持有 CDX HY 0-15%，并用 CDX IG 付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合的更大平衡</b>我们喜欢美国和欧洲的医疗保健行业，因为它有几个有利的因素：质量、低估值、高套利和低波动性。从全球来看，欧洲和日本的股市往往表现优于“周期中期”，我们认为它们可以再次做到这一点。</li><li><b>利率对复苏过于悲观。在我们的周期模型的“扩张”阶段，美国10年期国债1200万奈拉的收益率比平均水平低97个基点</b>. Guneet Dhingra 和我们的美国利率策略团队已将跑输大盘美国 10 年期国债移至我们的全球资产配置中，我们反过来又将跑输大盘国债移回。</li></ul>这个周期是不寻常的。大多数“正常”周期是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</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>Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：这个周期将比往常“更热但更短”</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\">\nMorgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：这个周期将比往常“更热但更短”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-19 16:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为本轮经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到了市场的激烈争论。每一个都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情创造了有记录以来产出最急剧下降的一次。随后，在政策支持的帮助下，活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种剧烈的下跌和上涨从来不允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场上的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得平滑和打磨。2003-07年的周期以大萧条以来最大的银行和房地产危机告终。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言表的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么要使用 “周期 ”这个词。经济和市场倾向于遵循周期性模式，这种模式往往会出现在市场表现中。我们关心的是这些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的经济衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等后期周期条件？确实如此。由此产生的股票、信贷、收益率和收益率曲线的低谷是否与市场和经济低点之间的通常节奏相匹配？他们做到了。随后反弹的领头羊是通常的早期周期赢家吗，比如小盘股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者像这些事情实际上一样正常。如果到目前为止已经出现了很多“正常”的循环行为，它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏进展，这些模式应该会改变。正如我的同事迈克尔·威尔逊 (Michael Wilson) 指出的那样，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅 16 个月。我们看到当前情况与 2004 年上半年有许多相似之处，上半年是继大规模通货膨胀反弹之后的中期周期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（参见2021年7月11日的增长恐慌周年纪念日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为总能找到适合自己特定周期观点的指标，所以我们一直都喜欢复合指标。这就是我们的 “周期模型”，它结合了宏观经济、信贷周期和企业侵略性的十项美国指标，以衡量我们在市场周期中的位置。在 2019 年 6 月进入周期后期 “低迷 ”和 2020 年 4 月进入周期早期 “修复 ”之后，该指数一路飙升。<b>它的崛起如此之快，以至于刚刚度过了下一阶段（'复苏'），直接进入了'扩张'。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>不寻常的论文。“扩展 ”意味着捕捉 “比正常情况更好，并且正在改善 ”的条件、<b>自1980年以来，“经济衰退”结束后平均需要35个月才能到达那里</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这就是我们的论点，也体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，相对于其他风险资产，信贷越差；信贷从“繁荣”中获得的收益较少，如果下一次经济衰退提前，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多供应</b>.在我们的周期模型的“扩张”阶段，美国IG和HY信贷N1200万超额回报率分别比平均水平差29bp和161bp。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现更加喜忧参半</b>投资者应尝试承担违约风险而不是利差风险：我们的信贷策略师喜欢持有 CDX HY 0-15%，并用 CDX IG 付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合的更大平衡</b>我们喜欢美国和欧洲的医疗保健行业，因为它有几个有利的因素：质量、低估值、高套利和低波动性。从全球来看，欧洲和日本的股市往往表现优于“周期中期”，我们认为它们可以再次做到这一点。</li><li><b>利率对复苏过于悲观。在我们的周期模型的“扩张”阶段，美国10年期国债1200万奈拉的收益率比平均水平低97个基点</b>. Guneet Dhingra 和我们的美国利率策略团队已将跑输大盘美国 10 年期国债移至我们的全球资产配置中，我们反过来又将跑输大盘国债移回。</li></ul>这个周期是不寻常的。大多数“正常”周期是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146536243","content_text":"We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.\nThe debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.\nBut 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.\nInstead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.\nWas last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.\nIf it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are. If a lot of 'normal' cycle behavior has played out so far, it should continue to do so.\nSpecifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see The Growth Scare Anniversary, July 11, 2021).\nBecause one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.\nThisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',and since 1980, it has taken an average of 35 months to get there after 'downturn' ends. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.It also hints at another possibility: this hotter cycle could be shorter.This is our thesis, and it’s showing up in our quantitative measure.\nAll this has a number of implications:\n\nThe shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.\nIn many of those periods, more mixed credit performance occurs despite default rates remaining low. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.\nIn equities, we think that our model supports more balance in portfolios. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.\nInterest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.\n\nThis cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":422,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":868031916,"gmtCreate":1632547830435,"gmtModify":1632799188712,"author":{"id":"3577450970953718","authorId":"3577450970953718","name":"Minhoshuting","avatar":"https://static.tigerbbs.com/16ab92b2914bd064ccd8620ef1d430ff","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577450970953718","authorIdStr":"3577450970953718"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868031916","repostId":"2170619785","repostType":4,"isVote":1,"tweetType":1,"viewCount":606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}