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GabrielWoon

GabrielWoon

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2021-04-27

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Tesla posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创纪录4.38亿美元营收暴增74%</blockquote>

2021-04-22

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2021-04-29

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Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</blockquote>

2021-04-24

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Dow rebounds 200 points led by banks and tech as market shrugs off higher tax fears<blockquote>由于市场摆脱了税收上涨的担忧，道琼斯指数在银行和科技股的带领下反弹200点</blockquote>

2021-04-24

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2021-04-01

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2021-04-25

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2021-04-21

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2021-04-10

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2021-04-04

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How Likely Is a Stock Market Crash?<blockquote>股市崩盘的可能性有多大？</blockquote>

2021-04-23

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2021-04-20

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IPO Preview: UiPath Inc, KnowBe4, Zymergen, Latham Holdings Highlight Busy Week Of Offerings<blockquote>IPO预览：UiPath Inc、KnowBe4、Zymergen、Latham Holdings重点介绍繁忙的一周发行</blockquote>

2021-04-19

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"Stunning Divergence": Latest Bank Data Reveals Something Is Terminally Broken In The Financial System<blockquote>“惊人的分歧”：最新的银行数据显示金融体系出现了彻底的崩溃</blockquote>

2021-04-13

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2021-04-03

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Wall Street Has Given Up on These 3 Stocks, and That's a Huge Mistake<blockquote>华尔街放弃了这三只股票，这是一个巨大的错误</blockquote>

2021-03-27

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

2021-04-14

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KKR Sparks Bidding War For Toshiba Amid "Civil War" Among Tech Giant's Board Members<blockquote>科技巨头董事会成员之间的“内战”中，KKR引发了对东芝的竞购战</blockquote>

2021-04-12

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JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week<blockquote>摩根大通、英伟达、高盛、Coinbase等本周值得投资者关注的股票</blockquote>

2021-04-17

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2021-04-09

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America's economy could be heading for a golden era of growth. But risks remain<blockquote>美国经济可能正在走向增长的黄金时代。但风险依然存在</blockquote>

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and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/109196885","repostId":"1137964402","repostType":4,"repost":{"id":"1137964402","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":1619651546,"share":"https://www.laohu8.com/m/news/1137964402?lang=zh_CN&edition=full","pubTime":"2021-04-29 07:12","market":"us","language":"en","title":"Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137964402","media":"Tiger Newspress","summary":"Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65","content":"<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p><blockquote><ul><li>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</li><li>苹果没有就截至6月份的季度的预期发布官方指引。</li><li>苹果授权900亿美元的股票回购。</li></ul>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</blockquote></p><p>Apple stock rose over 4% at one point in extended trading.</p><p><blockquote>苹果股价在盘后交易中一度上涨超过4%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p><blockquote></blockquote></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p><blockquote>苹果报告称，其每个产品类别都实现了两位数的增长，其最重要的产品线iPhone比去年增长了65.5%。其Mac和iPad销量表现更好，电脑销量同比增长70.1%，iPad销量同比增长近79%。</blockquote></p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p><blockquote>苹果表示，将把股息提高7%至每股0.22美元，并授权900亿美元的股票回购，这明显高于去年的500亿美元支出和2019年的750亿美元。</blockquote></p><p>Here’s how Apple did versus Refinitiv estimates:</p><p><blockquote>以下是苹果与Refinitiv估计的表现：</blockquote></p><p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p><blockquote><ul><li><b>EPS</b>：1.40美元对比。估计0.99美元</li><li><b>收入</b>：895.8亿美元对比。预计773.6亿美元，同比增长53.7%</li><li><b>iPhone收入</b>：479.4亿美元对比。预计为414.3亿美元，同比增长65.5%</li><li><b>服务收入</b>：169亿美元vs.预计155.7亿美元，同比增长26.7%</li><li><b>其他产品收益</b>：78.3亿美元对比。预计77.9亿美元，同比增长24%</li><li><b>Mac收入</b>：91亿美元vs.预计68.6亿美元，同比增长70.1%</li><li><b>iPad收入</b>：78亿美元vs.预计55.8亿美元，同比增长78.9%</li><li><b>毛利率</b>：42.5%vs.估计值39.8%</li></ul>苹果没有就截至6月份的季度的预期发布官方指引。自疫情开始以来，该公司一直没有提供收入指引，理由是存在不确定性。这是苹果连续第二个季度在所有产品类别中实现两位数增长。苹果首席财务官Luca Maestri告诉分析师，该公司预计6月份季度的收入将同比增长两位数，尽管由于全球芯片短缺，该公司面临一些供应短缺。</blockquote></p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p><blockquote>苹果在过去几个月表示，随着消费者和企业购买电脑在家工作和娱乐，其业务受到了疫情的提振。但苹果本季度的强劲业绩表明，随着更多经济体的开放，这一趋势可能会持续下去。</blockquote></p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p><blockquote>或者，正如苹果首席执行官蒂姆·库克(Tim Cook)在一份声明中所说：“本季度既反映了我们的产品帮助用户在自己的生活中迎接这一时刻的持久方式，也反映了消费者似乎对所有人未来更好的日子感到乐观。我们。”</blockquote></p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p><blockquote>Mac的销量增长了70%，库克表示，这一结果是由该公司推出的Mac笔记本电脑“推动”的，这些笔记本电脑使用了自己的M1芯片，电池寿命更长，而不是英特尔销售的处理器，iPad的销量同比增长了近79%。</blockquote></p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p><blockquote>这两个结果都不包括该公司3月份宣布的iPad Pro或iMac型号，预计这些型号将推动额外需求。</blockquote></p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p><blockquote>库克对CNBC的乔什·利普顿(Josh Lipton)表示：“我们看到Mac的首次购买者数量强劲……这一比例继续略低于50%。”“而且，在中国，这个数字甚至更高……大约是三分之二。这表明人们更喜欢在Mac上工作。”</blockquote></p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p><blockquote>苹果的iPhone本季度也公布了强劲的业绩，平息了人们对当前年度周期可能放缓的担忧。去年，苹果发布了具有新外观设计和5G支持的iPhone，许多投资者认为这可能会引发一个重大升级周期，本季度的业绩表明了这一点。</blockquote></p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><blockquote>在包括大陆、香港和台湾在内的大中华区，苹果的收入同比增长超过87%，达到177.3亿美元，尽管相比之下，去年中国在疫情初期基本上处于关闭状态。其他所有地理类别，包括美洲和欧洲，也同比增长。</blockquote></p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p><blockquote>苹果的高利润服务业务，包括iCloud、App Store和苹果音乐等订阅业务，也实现了26.7%的增长。</blockquote></p><p></p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p><blockquote>苹果用来显示服务增长的一个指标是其订阅数量，其中不仅包括苹果One等自有订阅，还包括通过其App Store进行的订阅。</blockquote></p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p><blockquote>库克对CNBC表示：“我们平台上的服务现在有超过6.6亿付费订阅，比上一季度增加了4000万，比3500万有所增长。”</blockquote></p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p><blockquote>然而，苹果的应用商店受到了立法者和公司的挑战，他们说它成本太高，权力太大。堡垒之夜制造商Epic Games就App Store政策进行的备受关注的审判将于下周开始。</blockquote></p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p><blockquote>“App Store是一个经济奇迹。据估计，去年有超过5000亿美元的经济活动因为这个商店。所以，这不仅是美国的经济游戏规则改变者，也是世界上几个国家的经济规则改变者。我们将走进去讲述我们的故事。我们会看到它会走向何方。但是，我们有信心，”库克告诉CNBC。</blockquote></p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p><p><blockquote>苹果的毛利率也异常高。大多数季度，利润率往往在38%至39%之间，但在截至3月份的季度，苹果报告利润率为42.5%。</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>Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-29 07:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p><blockquote><ul><li>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</li><li>苹果没有就截至6月份的季度的预期发布官方指引。</li><li>苹果授权900亿美元的股票回购。</li></ul>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</blockquote></p><p>Apple stock rose over 4% at one point in extended trading.</p><p><blockquote>苹果股价在盘后交易中一度上涨超过4%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p><blockquote></blockquote></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p><blockquote>苹果报告称，其每个产品类别都实现了两位数的增长，其最重要的产品线iPhone比去年增长了65.5%。其Mac和iPad销量表现更好，电脑销量同比增长70.1%，iPad销量同比增长近79%。</blockquote></p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p><blockquote>苹果表示，将把股息提高7%至每股0.22美元，并授权900亿美元的股票回购，这明显高于去年的500亿美元支出和2019年的750亿美元。</blockquote></p><p>Here’s how Apple did versus Refinitiv estimates:</p><p><blockquote>以下是苹果与Refinitiv估计的表现：</blockquote></p><p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p><blockquote><ul><li><b>EPS</b>：1.40美元对比。估计0.99美元</li><li><b>收入</b>：895.8亿美元对比。预计773.6亿美元，同比增长53.7%</li><li><b>iPhone收入</b>：479.4亿美元对比。预计为414.3亿美元，同比增长65.5%</li><li><b>服务收入</b>：169亿美元vs.预计155.7亿美元，同比增长26.7%</li><li><b>其他产品收益</b>：78.3亿美元对比。预计77.9亿美元，同比增长24%</li><li><b>Mac收入</b>：91亿美元vs.预计68.6亿美元，同比增长70.1%</li><li><b>iPad收入</b>：78亿美元vs.预计55.8亿美元，同比增长78.9%</li><li><b>毛利率</b>：42.5%vs.估计值39.8%</li></ul>苹果没有就截至6月份的季度的预期发布官方指引。自疫情开始以来，该公司一直没有提供收入指引，理由是存在不确定性。这是苹果连续第二个季度在所有产品类别中实现两位数增长。苹果首席财务官Luca Maestri告诉分析师，该公司预计6月份季度的收入将同比增长两位数，尽管由于全球芯片短缺，该公司面临一些供应短缺。</blockquote></p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p><blockquote>苹果在过去几个月表示，随着消费者和企业购买电脑在家工作和娱乐，其业务受到了疫情的提振。但苹果本季度的强劲业绩表明，随着更多经济体的开放，这一趋势可能会持续下去。</blockquote></p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p><blockquote>或者，正如苹果首席执行官蒂姆·库克(Tim Cook)在一份声明中所说：“本季度既反映了我们的产品帮助用户在自己的生活中迎接这一时刻的持久方式，也反映了消费者似乎对所有人未来更好的日子感到乐观。我们。”</blockquote></p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p><blockquote>Mac的销量增长了70%，库克表示，这一结果是由该公司推出的Mac笔记本电脑“推动”的，这些笔记本电脑使用了自己的M1芯片，电池寿命更长，而不是英特尔销售的处理器，iPad的销量同比增长了近79%。</blockquote></p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p><blockquote>这两个结果都不包括该公司3月份宣布的iPad Pro或iMac型号，预计这些型号将推动额外需求。</blockquote></p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p><blockquote>库克对CNBC的乔什·利普顿(Josh Lipton)表示：“我们看到Mac的首次购买者数量强劲……这一比例继续略低于50%。”“而且，在中国，这个数字甚至更高……大约是三分之二。这表明人们更喜欢在Mac上工作。”</blockquote></p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p><blockquote>苹果的iPhone本季度也公布了强劲的业绩，平息了人们对当前年度周期可能放缓的担忧。去年，苹果发布了具有新外观设计和5G支持的iPhone，许多投资者认为这可能会引发一个重大升级周期，本季度的业绩表明了这一点。</blockquote></p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><blockquote>在包括大陆、香港和台湾在内的大中华区，苹果的收入同比增长超过87%，达到177.3亿美元，尽管相比之下，去年中国在疫情初期基本上处于关闭状态。其他所有地理类别，包括美洲和欧洲，也同比增长。</blockquote></p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p><blockquote>苹果的高利润服务业务，包括iCloud、App Store和苹果音乐等订阅业务，也实现了26.7%的增长。</blockquote></p><p></p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p><blockquote>苹果用来显示服务增长的一个指标是其订阅数量，其中不仅包括苹果One等自有订阅，还包括通过其App Store进行的订阅。</blockquote></p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p><blockquote>库克对CNBC表示：“我们平台上的服务现在有超过6.6亿付费订阅，比上一季度增加了4000万，比3500万有所增长。”</blockquote></p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p><blockquote>然而，苹果的应用商店受到了立法者和公司的挑战，他们说它成本太高，权力太大。堡垒之夜制造商Epic Games就App Store政策进行的备受关注的审判将于下周开始。</blockquote></p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p><blockquote>“App Store是一个经济奇迹。据估计，去年有超过5000亿美元的经济活动因为这个商店。所以，这不仅是美国的经济游戏规则改变者，也是世界上几个国家的经济规则改变者。我们将走进去讲述我们的故事。我们会看到它会走向何方。但是，我们有信心，”库克告诉CNBC。</blockquote></p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p><p><blockquote>苹果的毛利率也异常高。大多数季度，利润率往往在38%至39%之间，但在截至3月份的季度，苹果报告利润率为42.5%。</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":"1137964402","content_text":"KEY POINTSApple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales did better, with its computers up 70.1% and iPad sales growing nearly 79% on an annual basis.Apple said it would increase its dividend by 7% to $0.22 per share and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay and 2019′s $75 billion.Here’s how Apple did versus Refinitiv estimates:EPS: $1.40 vs. $0.99 estimatedRevenue: $89.58 billion vs. $77.36 billion estimated, up 53.7% year-over-yeariPhone revenue: $47.94 billion vs. $41.43 billion estimated, up 65.5% year-over-yearServices revenue: $16.90 billion vs. $15.57 billion estimated, up 26.7% year over yearOther Products revenue: $7.83 billion vs. $7.79 billion estimated, up 24% year-over-yearMac revenue: $9.10 billion vs. $6.86 billion estimated, up 70.1% year-over-yeariPad revenue: $7.80 billion vs. $5.58 billion estimated, up 78.9% year-over-yearGross margin: 42.5% vs. 39.8% estimatedApple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue guidance since the start of the pandemic, citing uncertainty. This is Apple’s second quarter in a row with double-digit growth in all product categories. Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.Apple has said in the past months that its business has been boosted by the pandemic as consumers and businesses bought computers to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies open up.Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us.”Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac laptops that used its own M1 chips for longer battery life, instead of processors sold by Intel. iPad sales were up nearly 79% year-over-year.Neither of those results include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.“We’re seeing strong first-time buyers on the Mac … it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that … it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.In greater China, which includes the mainland, Hong Kong, and Taiwan, Apple’s revenue increased over 87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic. Every other geographical category, including the Americas and Europe, were also up on an annual basis.Apple’s high-margin services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377307493,"gmtCreate":1619494098512,"gmtModify":1634212294346,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/377307493","repostId":"1190086074","repostType":4,"repost":{"id":"1190086074","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":1619480390,"share":"https://www.laohu8.com/m/news/1190086074?lang=zh_CN&edition=full","pubTime":"2021-04-27 07:39","market":"us","language":"en","title":"Tesla posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创纪录4.38亿美元营收暴增74%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190086074","media":"Tiger Newspress","summary":"Tesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be deliv","content":"<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Tesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.</li><li>In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”</li><li>On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be delivered starting in May 2021, and Model X deliveries will begin in the third quarter of the year.</li></ul>Tesla&nbsp;reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 2.5% after hours as investors digested the numbers.</p><p><blockquote><ul><li>特斯拉报告本季度净利润达到创纪录的4.38亿美元，每股收益为93美分，营收为103.9亿美元。</li><li>该公司在财报中表示，通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，它已经度过了困扰汽车行业的芯片短缺问题。</li><li>在财报看涨期权上，首席执行官Elon Musk表示，该公司推迟的新版Model S轿车将于2021年5月开始交付，Model X将于今年第三季度开始交付。</li></ul>特斯拉周一盘后公布了第一季度业绩。在比特币销售和监管信贷的提振下，该公司轻松超出预期，但随着投资者消化这些数据，该股盘后下跌2.5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/fec5c52f391c1077b749edc13b7b3417\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv:</p><p><blockquote>以下是该公司本季度的表现，与Refinitiv编制的分析师预期相比：</blockquote></p><p><ul><li><b>Earnings:</b>93 cents per share vs. 79 cents per share expected</li><li><b>Revenue:</b>$10.39 billion vs. $10.29 billion expected, up 74% from a year ago</li></ul>Net profit reached a quarterly record of $438 million on a GAAP basis, and the company recorded $518 million in revenue from sales of regulatory credits during the period. It also recorded a $101 million positive impact from&nbsp;sales of bitcoin&nbsp;during the quarter.</p><p><blockquote><ul><li><b>收益：</b>每股93美分，预期每股79美分</li><li><b>收入：</b>103.9亿美元，预期为102.9亿美元，同比增长74%</li></ul>按GAAP计算，净利润达到季度创纪录的4.38亿美元，该公司在此期间从监管信贷销售中获得了5.18亿美元的收入。本季度比特币销售还带来了1.01亿美元的积极影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/107ab1e725bed375ea106bdf3024ec6a\" tg-width=\"1910\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>CEO Elon Musk’s electric vehicle business reported in the first quarter&nbsp;vehicle deliveries of 184,800&nbsp;Model 3 and Model Y cars, beating expectations and setting a record for Tesla. However, the company also said it produced none of its higher-end Model S sedans or Model X SUVs for the period ending March. It delivered2,020 older Model S sedans and Model X SUVs from inventory.</p><p><blockquote>首席执行官Elon Musk的电动汽车业务报告称，第一季度Model 3和Model Y汽车交付量为18.48万辆，超出预期，创下了特斯拉的纪录。不过，该公司还表示，截至3月份，该公司没有生产任何高端Model S轿车或Model X SUV。它从库存中交付了2,020辆旧款Model S轿车和Model X SUV。</blockquote></p><p>On Monday’s earnings call, Musk said the new version of the company’s Model S sedans will finally be delivered to customers starting in May 2021, with Model X deliveries to begin in the third quarter of the year. Musk and CFO Zachary Kirkhorn both said supply chain issues are likely to remain a challenge for Tesla this year.</p><p><blockquote>在周一的财报看涨期权上，Musk表示，该公司新版Model S轿车最终将于2021年5月开始向客户交付，Model X将于今年第三季度开始交付。Musk和CFO Zachary Kirkhorn均表示，供应链问题可能仍是特斯拉今年面临的挑战。</blockquote></p><p>In January 2021 (during a fourth-quarter 2020 earnings update) Musk had said that the Model S Plaid was already in production would be delivered starting in February 2021. But he admitted on Monday, “There were more challenges than expected,” in producing the refreshed version of these vehicles. He did not elaborate.</p><p><blockquote>2021年1月（在2020年第四季度财报更新期间），马斯克曾表示，Model S Plaid已经投入生产，将于2021年2月开始交付。但他周一承认，在生产这些车辆的更新版本时，“存在比预期更多的挑战”。他没有详细说明。</blockquote></p><p>Tesla is now aiming to produce 2,000 Model S and X vehicles per week later this year.</p><p><blockquote>特斯拉目前的目标是在今年晚些时候每周生产2,000辆Model S和X汽车。</blockquote></p><p>The company said Monday it expects more than 50% vehicle delivery growth in 2021 overall, which implies minimum deliveries around 750,000 vehicles this year.</p><p><blockquote>该公司周一表示，预计2021年汽车交付量总体增长将超过50%，这意味着今年的最低交付量约为75万辆。</blockquote></p><p>The fact Tesla grew vehicle unit sales by more than 100% year over year but grew service centers by only 28% and its mobile service fleet by only 22% explains why some Tesla customers face frustratingly long wait times for repairs. Service expansion is not keeping pace with the volume of vehicles sold.</p><p><blockquote>事实上，特斯拉的汽车销量同比增长超过100%，但服务中心仅增长28%，移动服务车队仅增长22%，这解释了为什么一些特斯拉客户面临令人沮丧的漫长维修等待时间。服务扩张跟不上车辆销量的步伐。</blockquote></p><p>Tesla said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.” It did not disclose the names of its new suppliers.</p><p><blockquote>特斯拉表示，它通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，部分克服了困扰汽车行业的芯片短缺问题。它没有透露新供应商的名称。</blockquote></p><p>It also reiterated Musk’s frequent claim that cameras, not radar, are a better path toward autonomous vehicles. “Our AI-based software architecture has been increasingly reliant on cameras, to the point where radar is becoming unnecessary earlier than expected. As a result, our FSD [Full Self-Driving] team is fully focused on evolving to a vision-based autonomous system and we are nearly ready to switch the US market to Tesla Vision,” the company said in its earnings release.</p><p><blockquote>它还重申了马斯克经常声称的摄像头而不是雷达是自动驾驶汽车的更好途径。“我们基于人工智能的软件架构越来越依赖摄像头，以至于雷达比预期更早变得不必要。因此，我们的FSD（全自动驾驶）团队完全专注于向基于视觉的自动驾驶系统发展，我们几乎准备好将美国市场转向特斯拉视觉，”该公司在财报中表示。</blockquote></p><p>Revenue for its energy generation and storage business nearly doubled for Tesla versus the same period in 2020, when Musk said Covid, then an emerging pandemic, had slowed its energy business to a crawl. But energy revenue declined from $787 million in the fourth quarter to $595 million in the first quarter of 2021.</p><p><blockquote>与2020年同期相比，特斯拉能源发电和存储业务的收入几乎翻了一番，当时马斯克表示，当时新冠疫情是一种新兴流行病，导致其能源业务放缓。但能源收入从第四季度的7.87亿美元下降至2021年第一季度的5.95亿美元。</blockquote></p><p>Recently, Tesla increased prices for its solar rooftops by 50%, and now requires anyone ordering solar photovoltaics (including Tesla solar roof tiles) to also order the Powerwall, Tesla’s home energy storage system. The sudden price change applied retroactively to some&nbsp;vexed customers.</p><p><blockquote>最近，特斯拉将其太阳能屋顶的价格提高了50%，现在要求任何订购太阳能光伏（包括特斯拉太阳能屋顶瓦片）的人也必须订购特斯拉的家庭储能系统Powerwall。突然的价格变化追溯适用于一些恼怒的顾客。</blockquote></p><p>Musk said on the Q1 2021 call that he is aiming for homes with solar rooftops and batteries from Tesla to function as a “giant distributed utility” that can help incumbent electrical utilities supply customers with all the electricity they need as demand and extreme weather events increase.</p><p><blockquote>马斯克在2021年第一季度看涨期权上表示，他的目标是让拥有太阳能屋顶和特斯拉电池的家庭成为“巨型分布式公用事业公司”，可以帮助现有电力公司在需求和极端天气事件增加时为客户提供所需的所有电力。</blockquote></p><p></p><p>Executives did not say how they would change their production or mix of battery cells from suppliers in order to make a higher volume of vehicles and energy storage products in 2021.</p><p><blockquote>高管们没有透露他们将如何改变供应商的电池生产或组合，以便在2021年生产更多的汽车和储能产品。</blockquote></p><p>Musk said the company’s 4680 cells, which it developed independently and makes at a pilot plant in Fremont, California, are not yet reliable enough to be shipped in Tesla vehicles. He said Tesla would probably “achieve volume production” of these cells in 12 to 18 months.</p><p><blockquote>Musk表示，该公司自主开发并在加州Fremont的一家试点工厂生产的4680电池还不够可靠，无法用特斯拉汽车运输。他表示，特斯拉可能会在12至18个月内“实现批量生产”这些电池。</blockquote></p><p>The company revealed in February it purchased&nbsp;$1.5 billion in bitcoin&nbsp;and would potentially invest in other cryptocurrencies in the future. By April, bitcoin rose to record levels before pulling back. In its statement of cash flows, Tesla revealed that it had sold $272 million worth of “digital assets,” presumably bitcoin, during the quarter.</p><p><blockquote>该公司在2月份透露，它购买了15亿美元的比特币，并可能在未来投资其他加密货币。到4月份，比特币升至创纪录水平，然后回落。特斯拉在其现金流量表中透露，该公司在本季度出售了价值2.72亿美元的“数字资产”，可能是比特币。</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 posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创纪录4.38亿美元营收暴增74%</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 posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创纪录4.38亿美元营收暴增74%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-27 07:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Tesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.</li><li>In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”</li><li>On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be delivered starting in May 2021, and Model X deliveries will begin in the third quarter of the year.</li></ul>Tesla&nbsp;reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 2.5% after hours as investors digested the numbers.</p><p><blockquote><ul><li>特斯拉报告本季度净利润达到创纪录的4.38亿美元，每股收益为93美分，营收为103.9亿美元。</li><li>该公司在财报中表示，通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，它已经度过了困扰汽车行业的芯片短缺问题。</li><li>在财报看涨期权上，首席执行官Elon Musk表示，该公司推迟的新版Model S轿车将于2021年5月开始交付，Model X将于今年第三季度开始交付。</li></ul>特斯拉周一盘后公布了第一季度业绩。在比特币销售和监管信贷的提振下，该公司轻松超出预期，但随着投资者消化这些数据，该股盘后下跌2.5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/fec5c52f391c1077b749edc13b7b3417\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv:</p><p><blockquote>以下是该公司本季度的表现，与Refinitiv编制的分析师预期相比：</blockquote></p><p><ul><li><b>Earnings:</b>93 cents per share vs. 79 cents per share expected</li><li><b>Revenue:</b>$10.39 billion vs. $10.29 billion expected, up 74% from a year ago</li></ul>Net profit reached a quarterly record of $438 million on a GAAP basis, and the company recorded $518 million in revenue from sales of regulatory credits during the period. It also recorded a $101 million positive impact from&nbsp;sales of bitcoin&nbsp;during the quarter.</p><p><blockquote><ul><li><b>收益：</b>每股93美分，预期每股79美分</li><li><b>收入：</b>103.9亿美元，预期为102.9亿美元，同比增长74%</li></ul>按GAAP计算，净利润达到季度创纪录的4.38亿美元，该公司在此期间从监管信贷销售中获得了5.18亿美元的收入。本季度比特币销售还带来了1.01亿美元的积极影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/107ab1e725bed375ea106bdf3024ec6a\" tg-width=\"1910\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>CEO Elon Musk’s electric vehicle business reported in the first quarter&nbsp;vehicle deliveries of 184,800&nbsp;Model 3 and Model Y cars, beating expectations and setting a record for Tesla. However, the company also said it produced none of its higher-end Model S sedans or Model X SUVs for the period ending March. It delivered2,020 older Model S sedans and Model X SUVs from inventory.</p><p><blockquote>首席执行官Elon Musk的电动汽车业务报告称，第一季度Model 3和Model Y汽车交付量为18.48万辆，超出预期，创下了特斯拉的纪录。不过，该公司还表示，截至3月份，该公司没有生产任何高端Model S轿车或Model X SUV。它从库存中交付了2,020辆旧款Model S轿车和Model X SUV。</blockquote></p><p>On Monday’s earnings call, Musk said the new version of the company’s Model S sedans will finally be delivered to customers starting in May 2021, with Model X deliveries to begin in the third quarter of the year. Musk and CFO Zachary Kirkhorn both said supply chain issues are likely to remain a challenge for Tesla this year.</p><p><blockquote>在周一的财报看涨期权上，Musk表示，该公司新版Model S轿车最终将于2021年5月开始向客户交付，Model X将于今年第三季度开始交付。Musk和CFO Zachary Kirkhorn均表示，供应链问题可能仍是特斯拉今年面临的挑战。</blockquote></p><p>In January 2021 (during a fourth-quarter 2020 earnings update) Musk had said that the Model S Plaid was already in production would be delivered starting in February 2021. But he admitted on Monday, “There were more challenges than expected,” in producing the refreshed version of these vehicles. He did not elaborate.</p><p><blockquote>2021年1月（在2020年第四季度财报更新期间），马斯克曾表示，Model S Plaid已经投入生产，将于2021年2月开始交付。但他周一承认，在生产这些车辆的更新版本时，“存在比预期更多的挑战”。他没有详细说明。</blockquote></p><p>Tesla is now aiming to produce 2,000 Model S and X vehicles per week later this year.</p><p><blockquote>特斯拉目前的目标是在今年晚些时候每周生产2,000辆Model S和X汽车。</blockquote></p><p>The company said Monday it expects more than 50% vehicle delivery growth in 2021 overall, which implies minimum deliveries around 750,000 vehicles this year.</p><p><blockquote>该公司周一表示，预计2021年汽车交付量总体增长将超过50%，这意味着今年的最低交付量约为75万辆。</blockquote></p><p>The fact Tesla grew vehicle unit sales by more than 100% year over year but grew service centers by only 28% and its mobile service fleet by only 22% explains why some Tesla customers face frustratingly long wait times for repairs. Service expansion is not keeping pace with the volume of vehicles sold.</p><p><blockquote>事实上，特斯拉的汽车销量同比增长超过100%，但服务中心仅增长28%，移动服务车队仅增长22%，这解释了为什么一些特斯拉客户面临令人沮丧的漫长维修等待时间。服务扩张跟不上车辆销量的步伐。</blockquote></p><p>Tesla said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.” It did not disclose the names of its new suppliers.</p><p><blockquote>特斯拉表示，它通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，部分克服了困扰汽车行业的芯片短缺问题。它没有透露新供应商的名称。</blockquote></p><p>It also reiterated Musk’s frequent claim that cameras, not radar, are a better path toward autonomous vehicles. “Our AI-based software architecture has been increasingly reliant on cameras, to the point where radar is becoming unnecessary earlier than expected. As a result, our FSD [Full Self-Driving] team is fully focused on evolving to a vision-based autonomous system and we are nearly ready to switch the US market to Tesla Vision,” the company said in its earnings release.</p><p><blockquote>它还重申了马斯克经常声称的摄像头而不是雷达是自动驾驶汽车的更好途径。“我们基于人工智能的软件架构越来越依赖摄像头，以至于雷达比预期更早变得不必要。因此，我们的FSD（全自动驾驶）团队完全专注于向基于视觉的自动驾驶系统发展，我们几乎准备好将美国市场转向特斯拉视觉，”该公司在财报中表示。</blockquote></p><p>Revenue for its energy generation and storage business nearly doubled for Tesla versus the same period in 2020, when Musk said Covid, then an emerging pandemic, had slowed its energy business to a crawl. But energy revenue declined from $787 million in the fourth quarter to $595 million in the first quarter of 2021.</p><p><blockquote>与2020年同期相比，特斯拉能源发电和存储业务的收入几乎翻了一番，当时马斯克表示，当时新冠疫情是一种新兴流行病，导致其能源业务放缓。但能源收入从第四季度的7.87亿美元下降至2021年第一季度的5.95亿美元。</blockquote></p><p>Recently, Tesla increased prices for its solar rooftops by 50%, and now requires anyone ordering solar photovoltaics (including Tesla solar roof tiles) to also order the Powerwall, Tesla’s home energy storage system. The sudden price change applied retroactively to some&nbsp;vexed customers.</p><p><blockquote>最近，特斯拉将其太阳能屋顶的价格提高了50%，现在要求任何订购太阳能光伏（包括特斯拉太阳能屋顶瓦片）的人也必须订购特斯拉的家庭储能系统Powerwall。突然的价格变化追溯适用于一些恼怒的顾客。</blockquote></p><p>Musk said on the Q1 2021 call that he is aiming for homes with solar rooftops and batteries from Tesla to function as a “giant distributed utility” that can help incumbent electrical utilities supply customers with all the electricity they need as demand and extreme weather events increase.</p><p><blockquote>马斯克在2021年第一季度看涨期权上表示，他的目标是让拥有太阳能屋顶和特斯拉电池的家庭成为“巨型分布式公用事业公司”，可以帮助现有电力公司在需求和极端天气事件增加时为客户提供所需的所有电力。</blockquote></p><p></p><p>Executives did not say how they would change their production or mix of battery cells from suppliers in order to make a higher volume of vehicles and energy storage products in 2021.</p><p><blockquote>高管们没有透露他们将如何改变供应商的电池生产或组合，以便在2021年生产更多的汽车和储能产品。</blockquote></p><p>Musk said the company’s 4680 cells, which it developed independently and makes at a pilot plant in Fremont, California, are not yet reliable enough to be shipped in Tesla vehicles. He said Tesla would probably “achieve volume production” of these cells in 12 to 18 months.</p><p><blockquote>Musk表示，该公司自主开发并在加州Fremont的一家试点工厂生产的4680电池还不够可靠，无法用特斯拉汽车运输。他表示，特斯拉可能会在12至18个月内“实现批量生产”这些电池。</blockquote></p><p>The company revealed in February it purchased&nbsp;$1.5 billion in bitcoin&nbsp;and would potentially invest in other cryptocurrencies in the future. By April, bitcoin rose to record levels before pulling back. In its statement of cash flows, Tesla revealed that it had sold $272 million worth of “digital assets,” presumably bitcoin, during the quarter.</p><p><blockquote>该公司在2月份透露，它购买了15亿美元的比特币，并可能在未来投资其他加密货币。到4月份，比特币升至创纪录水平，然后回落。特斯拉在其现金流量表中透露，该公司在本季度出售了价值2.72亿美元的“数字资产”，可能是比特币。</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":"1190086074","content_text":"KEY POINTSTesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be delivered starting in May 2021, and Model X deliveries will begin in the third quarter of the year.Tesla reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 2.5% after hours as investors digested the numbers.Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv:Earnings:93 cents per share vs. 79 cents per share expectedRevenue:$10.39 billion vs. $10.29 billion expected, up 74% from a year agoNet profit reached a quarterly record of $438 million on a GAAP basis, and the company recorded $518 million in revenue from sales of regulatory credits during the period. It also recorded a $101 million positive impact from sales of bitcoin during the quarter.CEO Elon Musk’s electric vehicle business reported in the first quarter vehicle deliveries of 184,800 Model 3 and Model Y cars, beating expectations and setting a record for Tesla. However, the company also said it produced none of its higher-end Model S sedans or Model X SUVs for the period ending March. It delivered2,020 older Model S sedans and Model X SUVs from inventory.On Monday’s earnings call, Musk said the new version of the company’s Model S sedans will finally be delivered to customers starting in May 2021, with Model X deliveries to begin in the third quarter of the year. Musk and CFO Zachary Kirkhorn both said supply chain issues are likely to remain a challenge for Tesla this year.In January 2021 (during a fourth-quarter 2020 earnings update) Musk had said that the Model S Plaid was already in production would be delivered starting in February 2021. But he admitted on Monday, “There were more challenges than expected,” in producing the refreshed version of these vehicles. He did not elaborate.Tesla is now aiming to produce 2,000 Model S and X vehicles per week later this year.The company said Monday it expects more than 50% vehicle delivery growth in 2021 overall, which implies minimum deliveries around 750,000 vehicles this year.The fact Tesla grew vehicle unit sales by more than 100% year over year but grew service centers by only 28% and its mobile service fleet by only 22% explains why some Tesla customers face frustratingly long wait times for repairs. Service expansion is not keeping pace with the volume of vehicles sold.Tesla said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.” It did not disclose the names of its new suppliers.It also reiterated Musk’s frequent claim that cameras, not radar, are a better path toward autonomous vehicles. “Our AI-based software architecture has been increasingly reliant on cameras, to the point where radar is becoming unnecessary earlier than expected. As a result, our FSD [Full Self-Driving] team is fully focused on evolving to a vision-based autonomous system and we are nearly ready to switch the US market to Tesla Vision,” the company said in its earnings release.Revenue for its energy generation and storage business nearly doubled for Tesla versus the same period in 2020, when Musk said Covid, then an emerging pandemic, had slowed its energy business to a crawl. But energy revenue declined from $787 million in the fourth quarter to $595 million in the first quarter of 2021.Recently, Tesla increased prices for its solar rooftops by 50%, and now requires anyone ordering solar photovoltaics (including Tesla solar roof tiles) to also order the Powerwall, Tesla’s home energy storage system. The sudden price change applied retroactively to some vexed customers.Musk said on the Q1 2021 call that he is aiming for homes with solar rooftops and batteries from Tesla to function as a “giant distributed utility” that can help incumbent electrical utilities supply customers with all the electricity they need as demand and extreme weather events increase.Executives did not say how they would change their production or mix of battery cells from suppliers in order to make a higher volume of vehicles and energy storage products in 2021.Musk said the company’s 4680 cells, which it developed independently and makes at a pilot plant in Fremont, California, are not yet reliable enough to be shipped in Tesla vehicles. He said Tesla would probably “achieve volume production” of these cells in 12 to 18 months.The company revealed in February it purchased $1.5 billion in bitcoin and would potentially invest in other cryptocurrencies in the future. By April, bitcoin rose to record levels before pulling back. In its statement of cash flows, Tesla revealed that it had sold $272 million worth of “digital assets,” presumably bitcoin, during the quarter.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1482,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375884236,"gmtCreate":1619323130025,"gmtModify":1634274232717,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Like and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/375884236","repostId":"2129610673","repostType":4,"isVote":1,"tweetType":1,"viewCount":1486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372230392,"gmtCreate":1619219237116,"gmtModify":1634287740091,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/372230392","repostId":"1128911279","repostType":4,"isVote":1,"tweetType":1,"viewCount":1582,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372297430,"gmtCreate":1619219180120,"gmtModify":1634287740334,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/372297430","repostId":"1101099559","repostType":4,"repost":{"id":"1101099559","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":1619191663,"share":"https://www.laohu8.com/m/news/1101099559?lang=zh_CN&edition=full","pubTime":"2021-04-23 23:27","market":"us","language":"en","title":"Dow rebounds 200 points led by banks and tech as market shrugs off higher tax fears<blockquote>由于市场摆脱了税收上涨的担忧，道琼斯指数在银行和科技股的带领下反弹200点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101099559","media":"Tiger Newspress","summary":"U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White ","content":"<p>U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.</p><p><blockquote>美国股市周五反弹，华尔街重新评估了白宫可能寻求提高资本利得税的消息引发的担忧。</blockquote></p><p>The Dow Jones Industrial Average gained 200 points amid a jump in Goldman Sachs and Apple shares. The S&amp;P 500 rose 1% led by financials and technology shares, while the tech-heavy Nasdaq Composite climbed 1.2%.</p><p><blockquote>由于高盛和苹果股价上涨，道琼斯工业平均指数上涨200点。在金融和科技股的带动下，标普500上涨1%，而以科技股为主的纳斯达克综合指数上涨1.2%。</blockquote></p><p>Wall Street came off a turbulent session for equities after multiple news outlets reported Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich.</p><p><blockquote>周四下午，多家新闻媒体报道称，总统乔·拜登将提议对富人征收更高的资本利得税，华尔街股市经历了动荡的交易日。</blockquote></p><p>Bloomberg News reported that Biden is planning a&nbsp;capital gains tax hike to as high as 43.4%&nbsp;for wealthy Americans.</p><p><blockquote>彭博新闻社报道称，拜登正计划将美国富人的资本利得税提高至高达43.4%。</blockquote></p><p>The proposal would hike the capital gains rate to 39.6% for&nbsp;those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter. Reuters and the New York Times later also reported similar stories.</p><p><blockquote>据彭博新闻社援引知情人士的话报道，该提案将把收入100万美元或以上的人的资本利得税率从目前的20%提高到39.6%。路透社和《纽约时报》后来也报道了类似的故事。</blockquote></p><p>“We expect Congress will pass a scaled back version of this tax increase,” wrote Goldman Sachs economists in a note. “We expect Congress will settle on a more modest increase, potentially around 28%.”</p><p><blockquote>高盛经济学家在一份报告中写道：“我们预计国会将通过此次增税的缩减版本。”“我们预计国会将决定更温和的增幅，可能在28%左右。”</blockquote></p><p>Week to date, the three major averages are all down about 1%.</p><p><blockquote>本周迄今为止，三大股指均下跌约1%。</blockquote></p><p>Intel shares dropped more than 5% after it issued second-quarter earnings guidance&nbsp;below analysts’ hopes. American Express fell over 4% after the credit card company reported quarterly revenue that was slightly short of forecasts.</p><p><blockquote>英特尔发布低于分析师预期的第二季度盈利指引后，股价下跌超过5%。美国运通(American Express)公布季度收入略低于预期，股价下跌超过4%。</blockquote></p><p>Snap shares, meanwhile, jumped 9% after it said&nbsp;it saw accelerating revenue growth and strong user numbers during the first quarter. Snap broke even on the bottom line while posting revenue of $770 million.</p><p><blockquote>与此同时，Snap表示第一季度收入增长加速，用户数量强劲，该公司股价上涨9%。Snap实现了盈亏平衡，营收为7.7亿美元。</blockquote></p><p>Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. Still, strong first-quarter results have been met with a more tepid response from investors, who have not, to date, snapped up shares of companies with some of the best results.</p><p><blockquote>迄今为止，企业在财报季中大多成功超出了华尔街的预期。尽管如此，投资者对第一季度强劲的业绩反应却较为冷淡，迄今为止，投资者尚未抢购业绩最好的公司的股票。</blockquote></p><p>Strategists say already-high valuations and near-record-high levels on the S&amp;P 500 and Dow have kept traders’ enthusiasm in check. But indexes are within 1.5% of their all-time highs even after Thursday’s losses.</p><p><blockquote>策略师表示，标普500和道指已经很高的估值以及接近历史新高的水平抑制了交易员的热情。但即使在周四下跌之后，指数仍与历史高点相差不到1.5%。</blockquote></p><p>Bitcoin&nbsp;plunged overnight, perhaps in part because of concerns about higher capital gains taxes, with the cryptocurrency last down about 8%, according to CoinMetrics. Other cryptocurrencies like Ethereum were also getting hit. So far, the sell-off there was not spilling over into other risk assets like equities.</p><p><blockquote>根据CoinMetrics的数据，比特币隔夜暴跌，部分原因可能是对更高资本利得税的担忧，该加密货币最近下跌了约8%。以太币等其他加密货币也受到了打击。到目前为止，那里的抛售还没有蔓延到股票等其他风险资产。</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>Dow rebounds 200 points led by banks and tech as market shrugs off higher tax fears<blockquote>由于市场摆脱了税收上涨的担忧，道琼斯指数在银行和科技股的带领下反弹200点</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow rebounds 200 points led by banks and tech as market shrugs off higher tax fears<blockquote>由于市场摆脱了税收上涨的担忧，道琼斯指数在银行和科技股的带领下反弹200点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-23 23:27</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.</p><p><blockquote>美国股市周五反弹，华尔街重新评估了白宫可能寻求提高资本利得税的消息引发的担忧。</blockquote></p><p>The Dow Jones Industrial Average gained 200 points amid a jump in Goldman Sachs and Apple shares. The S&amp;P 500 rose 1% led by financials and technology shares, while the tech-heavy Nasdaq Composite climbed 1.2%.</p><p><blockquote>由于高盛和苹果股价上涨，道琼斯工业平均指数上涨200点。在金融和科技股的带动下，标普500上涨1%，而以科技股为主的纳斯达克综合指数上涨1.2%。</blockquote></p><p>Wall Street came off a turbulent session for equities after multiple news outlets reported Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich.</p><p><blockquote>周四下午，多家新闻媒体报道称，总统乔·拜登将提议对富人征收更高的资本利得税，华尔街股市经历了动荡的交易日。</blockquote></p><p>Bloomberg News reported that Biden is planning a&nbsp;capital gains tax hike to as high as 43.4%&nbsp;for wealthy Americans.</p><p><blockquote>彭博新闻社报道称，拜登正计划将美国富人的资本利得税提高至高达43.4%。</blockquote></p><p>The proposal would hike the capital gains rate to 39.6% for&nbsp;those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter. Reuters and the New York Times later also reported similar stories.</p><p><blockquote>据彭博新闻社援引知情人士的话报道，该提案将把收入100万美元或以上的人的资本利得税率从目前的20%提高到39.6%。路透社和《纽约时报》后来也报道了类似的故事。</blockquote></p><p>“We expect Congress will pass a scaled back version of this tax increase,” wrote Goldman Sachs economists in a note. “We expect Congress will settle on a more modest increase, potentially around 28%.”</p><p><blockquote>高盛经济学家在一份报告中写道：“我们预计国会将通过此次增税的缩减版本。”“我们预计国会将决定更温和的增幅，可能在28%左右。”</blockquote></p><p>Week to date, the three major averages are all down about 1%.</p><p><blockquote>本周迄今为止，三大股指均下跌约1%。</blockquote></p><p>Intel shares dropped more than 5% after it issued second-quarter earnings guidance&nbsp;below analysts’ hopes. American Express fell over 4% after the credit card company reported quarterly revenue that was slightly short of forecasts.</p><p><blockquote>英特尔发布低于分析师预期的第二季度盈利指引后，股价下跌超过5%。美国运通(American Express)公布季度收入略低于预期，股价下跌超过4%。</blockquote></p><p>Snap shares, meanwhile, jumped 9% after it said&nbsp;it saw accelerating revenue growth and strong user numbers during the first quarter. Snap broke even on the bottom line while posting revenue of $770 million.</p><p><blockquote>与此同时，Snap表示第一季度收入增长加速，用户数量强劲，该公司股价上涨9%。Snap实现了盈亏平衡，营收为7.7亿美元。</blockquote></p><p>Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. Still, strong first-quarter results have been met with a more tepid response from investors, who have not, to date, snapped up shares of companies with some of the best results.</p><p><blockquote>迄今为止，企业在财报季中大多成功超出了华尔街的预期。尽管如此，投资者对第一季度强劲的业绩反应却较为冷淡，迄今为止，投资者尚未抢购业绩最好的公司的股票。</blockquote></p><p>Strategists say already-high valuations and near-record-high levels on the S&amp;P 500 and Dow have kept traders’ enthusiasm in check. But indexes are within 1.5% of their all-time highs even after Thursday’s losses.</p><p><blockquote>策略师表示，标普500和道指已经很高的估值以及接近历史新高的水平抑制了交易员的热情。但即使在周四下跌之后，指数仍与历史高点相差不到1.5%。</blockquote></p><p>Bitcoin&nbsp;plunged overnight, perhaps in part because of concerns about higher capital gains taxes, with the cryptocurrency last down about 8%, according to CoinMetrics. Other cryptocurrencies like Ethereum were also getting hit. So far, the sell-off there was not spilling over into other risk assets like equities.</p><p><blockquote>根据CoinMetrics的数据，比特币隔夜暴跌，部分原因可能是对更高资本利得税的担忧，该加密货币最近下跌了约8%。以太币等其他加密货币也受到了打击。到目前为止，那里的抛售还没有蔓延到股票等其他风险资产。</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","SNAP":"Snap Inc","INTC":"英特尔"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101099559","content_text":"U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.The Dow Jones Industrial Average gained 200 points amid a jump in Goldman Sachs and Apple shares. The S&P 500 rose 1% led by financials and technology shares, while the tech-heavy Nasdaq Composite climbed 1.2%.Wall Street came off a turbulent session for equities after multiple news outlets reported Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich.Bloomberg News reported that Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans.The proposal would hike the capital gains rate to 39.6% for those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter. Reuters and the New York Times later also reported similar stories.“We expect Congress will pass a scaled back version of this tax increase,” wrote Goldman Sachs economists in a note. “We expect Congress will settle on a more modest increase, potentially around 28%.”Week to date, the three major averages are all down about 1%.Intel shares dropped more than 5% after it issued second-quarter earnings guidance below analysts’ hopes. American Express fell over 4% after the credit card company reported quarterly revenue that was slightly short of forecasts.Snap shares, meanwhile, jumped 9% after it said it saw accelerating revenue growth and strong user numbers during the first quarter. Snap broke even on the bottom line while posting revenue of $770 million.Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. Still, strong first-quarter results have been met with a more tepid response from investors, who have not, to date, snapped up shares of companies with some of the best results.Strategists say already-high valuations and near-record-high levels on the S&P 500 and Dow have kept traders’ enthusiasm in check. But indexes are within 1.5% of their all-time highs even after Thursday’s losses.Bitcoin plunged overnight, perhaps in part because of concerns about higher capital gains taxes, with the cryptocurrency last down about 8%, according to CoinMetrics. Other cryptocurrencies like Ethereum were also getting hit. So far, the sell-off there was not spilling over into other risk assets like equities.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,"SNAP":0.9,"INTC":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376759802,"gmtCreate":1619151245907,"gmtModify":1634288156012,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/376759802","repostId":"1141178573","repostType":4,"isVote":1,"tweetType":1,"viewCount":2614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378731593,"gmtCreate":1619059980212,"gmtModify":1634288847246,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/378731593","repostId":"2129808688","repostType":4,"isVote":1,"tweetType":1,"viewCount":1505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371422097,"gmtCreate":1618966944919,"gmtModify":1634289561813,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/371422097","repostId":"1123133666","repostType":4,"isVote":1,"tweetType":1,"viewCount":1366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371004707,"gmtCreate":1618889215009,"gmtModify":1634290113455,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/371004707","repostId":"1129471770","repostType":4,"repost":{"id":"1129471770","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1618793935,"share":"https://www.laohu8.com/m/news/1129471770?lang=zh_CN&edition=full","pubTime":"2021-04-19 08:58","market":"us","language":"en","title":"IPO Preview: UiPath Inc, KnowBe4, Zymergen, Latham Holdings Highlight Busy Week Of Offerings<blockquote>IPO预览：UiPath Inc、KnowBe4、Zymergen、Latham Holdings重点介绍繁忙的一周发行</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129471770","media":"Benzinga","summary":"This week’s offerings don’t have quite the same high profile as last week's highly anticipated IPO o","content":"<p>This week’s offerings don’t have quite the same high profile as last week's highly anticipated IPO of<b>Coinbase Global</b>COIN 5.96%. Nevertheless, there are several excitingIPOsthat investors should consider this week, including UiPath and Latham Holdings.</p><p><blockquote>本周的发行不像上周备受期待的IPO那样引人注目<b>比特币基地全球</b>硬币5.96%。尽管如此，投资者本周应该考虑几个令人兴奋的IPO，包括UiPath和Latham Holdings。</blockquote></p><p>Here is a look at the expected IPO pricings for the week of April 19.</p><p><blockquote>以下是4月19日当周的预期IPO定价。</blockquote></p><p><b>DoubleVerify Holdings:</b>&nbsp;Digital media measurement and analytics company<b>DoubleVerify Holdings</b>&nbsp;NYSE:&nbsp;DV&nbsp;plansto sell 13.3 million shares at a price point of $24 to $27.</p><p><blockquote><b>DoubleVerify控股：</b>数字媒体测量和分析公司<b>双验证控股</b>纽约证券交易所股票代码：DV计划以24至27美元的价格出售1,330万股股票。</blockquote></p><p>The company makes security software for digital advertising and claims to have over 1,000 advertisers and publishers as partners, and more than 45 customers that each account for $1 million in annual revenue for DoubleVerify.</p><p><blockquote>该公司为数字广告生产安全软件，并声称有超过1,000家广告商和出版商作为合作伙伴，以及超过45家客户，每个客户为DoubleVerify贡献了100万美元的年收入。</blockquote></p><p>The company had revenue of $244 million in fiscal 2020, a year-over-year increase of 34%.</p><p><blockquote>该公司2020财年营收2.44亿美元，同比增长34%。</blockquote></p><p><b>NeuroPace:</b>&nbsp;Commercial-stage medical device company<b>NeuroPace</b>&nbsp;NASDAQ:&nbsp;NPCE&nbsp;says it&nbsp;hasthe first and only commercially-available, brain-responsive system to help fight seizures.</p><p><blockquote><b>神经空间：</b>商业化阶段医疗器械公司<b>神经空间</b>纳斯达克：NPCE表示，它拥有第一个也是唯一一个商用的大脑响应系统来帮助对抗癫痫发作。</blockquote></p><p>The company’s target market is customers who have drug-resistant epilepsy. Over 3,000 patients were&nbsp;served by the company through 2020. Neuropace had revenue of $10 million in fiscal 2020 and is guiding for fiscal 2021 revenue of between $11.1 million and $11.3 million.</p><p><blockquote>该公司的目标市场是患有耐药性癫痫的客户。截至2020年，该公司为超过3,000名患者提供了服务。Neuropace 2020财年的收入为1000万美元，预计2021财年的收入在1110万美元至1130万美元之间。</blockquote></p><p>Over $28 billion is spent annually on epilepsy care in the United States. The company plans to sell 5.3 million shares at a price point of $15 to $17.</p><p><blockquote>在美国，每年用于癫痫护理的费用超过280亿美元。该公司计划以15至17美元的价格出售530万股股票。</blockquote></p><p><b>UiPath:</b>Thebiggest IPOof the week is set to be automation company<b>UiPath Inc</b>NYSEPATH, with aplannedoffering of 21.3 million shares at a price point of $43 to $50.</p><p><blockquote><b>UiPath：</b>本周最大的IPO将是自动化公司<b>UiPath公司</b>NYSEPATH计划以43至50美元的价格发行2130万股。</blockquote></p><p>The company “makes software robots so people don’t have to be robots.” The company had annual recurring revenue of $580 million in the fiscal year ended January 31, 2021, for a growth rate of 65%.&nbsp;UiPath says it has over 7,900 customers, with over 1,000 of them paying $100,000 or more annually to the company.</p><p><blockquote>该公司“制造软件机器人，这样人们就不必成为机器人。”截至2021年1月31日的财年，该公司的年度经常性收入为5.8亿美元，增长率为65%。UiPath表示，它拥有超过7,900名客户，其中超过1,000名客户每年向该公司支付10万美元或更多。</blockquote></p><p>The company is targeting a market opportunity of $65 billion and believes its open architecture and end-to-end platform set it apart from competitors.</p><p><blockquote>该公司的目标是650亿美元的市场机会，并相信其开放式架构和端到端平台使其从竞争对手中脱颖而出。</blockquote></p><p><b>SkyWater Technology:</b>Pure-play technology foundry<b>SkyWater Technology</b>&nbsp;NASDAQ:&nbsp;SKYT&nbsp;offerssemiconductor development and manufacturing services, targeting&nbsp;customers in markets like advanced computing, aerospace, defense, automotive and IoT.</p><p><blockquote><b>SkyWater技术：</b>纯技术代工厂<b>天水科技</b>纳斯达克：SKYT提供半导体开发和制造服务，目标客户包括先进计算、航空航天、国防、汽车和物联网等市场。</blockquote></p><p>The company has 35 customers in its advanced technology services including L3Harris and<b>Microsoft Corporation</b>MSFT 0.48%. SkyWater was divested from Cypress Semiconductor in 2017. The company had revenue of $140.4 million in 2020.</p><p><blockquote>该公司的先进技术服务拥有35家客户，包括L3Harris和<b>微软公司</b>MSFT 0.48%。SkyWater于2017年从赛普拉斯半导体剥离。该公司2020年收入为1.404亿美元。</blockquote></p><p>SkyWater plans to sell 5.8 million shares at a price point of $12 to $14.</p><p><blockquote>SkyWater计划以12至14美元的价格出售580万股股票。</blockquote></p><p><b>KnowBe4:</b>Security platform<b>KnowBe4 Inc</b>&nbsp;NASDAQ:&nbsp;KNBE&nbsp;isseekingto sell 11.8 million shares at a price point of $16 to $18.</p><p><blockquote><b>已知4：</b>安全平台<b>KnowBe4公司</b>纳斯达克：KNBE正在寻求以16至18美元的价格出售1180万股股票。</blockquote></p><p>The company serves over 37,000 customers globally in markets worth $15 billion. The company had 45% revenue growth and $198 million in annual recurring revenue last year. It plans to rapidly grow its international operations, which made up 11.9% of revenue in fiscal 2020.</p><p><blockquote>该公司为全球超过37,000名客户提供服务，市场价值150亿美元。该公司去年的收入增长了45%，年度经常性收入为1.98亿美元。该公司计划快速发展其国际业务，该业务占2020财年收入的11.9%。</blockquote></p><p><b>Zymergen: \"</b>Biofacturing\" company<b>Zymergen</b>&nbsp;NASDAQ:&nbsp;ZY&nbsp;plansto sell 13.6 million shares at a price of $28 to $31.</p><p><blockquote><b>Zymergen：“</b>生物制造”公司<b>酶根</b>纳斯达克：ZY计划以28至31美元的价格出售1360万股股票。</blockquote></p><p>The company is working on bio-based products including films that could be used in rollable mobile tablet devices.</p><p><blockquote>该公司正在开发生物基产品，包括可用于可卷曲移动平板设备的薄膜。</blockquote></p><p>The company’s first product, Hyaline, was launched in December 2020, and an additional 10 products are in development. The biofacturing market is worth $1.2 trillion. according to the company.</p><p><blockquote>公司首款产品Hyaline于2020年12月上市，另有10款产品正在开发中。生物制造市场价值1.2万亿美元。据该公司称。</blockquote></p><p><b>Agiliti:</b>Healthcare service provider&nbsp;<b>Agiliti Inc</b>NYSEAGTIsays it&nbsp;hasa customer base of over 7,0000 networks and that&nbsp;90% of U.S. acute and alternate care facilities are within a 100-mile radius of an Agiliti service center. The company is seeking to sell 26.3 million shares at a price point of $18 to $20.</p><p><blockquote><b>敏捷性：</b>医疗服务提供者<b>敏捷公司</b>NYSEAGTI表示，它拥有超过7,000 0个网络的客户群，90%的美国急症和替代护理机构都在Agiliti服务中心100英里半径范围内。该公司寻求以18至20美元的价格出售2630万股股票。</blockquote></p><p><b>Latham Group:</b>A designer, manufacturer and marketer of in-ground residential pools in North America, Australia and New Zealandplansto go public this week.</p><p><blockquote><b>瑞生集团：</b>北美、澳大利亚和新西兰地下住宅泳池的设计者、制造商和营销商计划本周上市。</blockquote></p><p><b>Latham Group</b>&nbsp;NASDAQ:&nbsp;SWIM&nbsp;plans to sell 20 million shares at a price point of $19 to $21.</p><p><blockquote><b>莱瑟姆集团</b>纳斯达克：SWIM计划以19美元至21美元的价格出售2000万股股票。</blockquote></p><p>The company sells fiberglass products that are more durable and use less chemicals, according to the company. Latham sold 8,700 fiberglass pools in 2020 and reported its 11th consecutive year of net sales growth.</p><p><blockquote>据该公司称，该公司销售的玻璃纤维产品更耐用，使用的化学品更少。Latham在2020年销售了8,700个玻璃纤维泳池，并报告了连续11年净销售额增长。</blockquote></p><p>The company had revenue of $408 million in fiscal 2020, and&nbsp;59% of it came from in-ground pool sales.</p><p><blockquote>该公司2020财年的收入为4.08亿美元，其中59%来自地下泳池销售。</blockquote></p><p>In 2018, the company shifted from a business-to-business model to business-to-consumer, making it&nbsp;the only pool company with a direct relationship to the homeowner, according to the company.</p><p><blockquote>据该公司称，2018年，该公司从企业对企业模式转向企业对消费者模式，使其成为唯一一家与房主有直接关系的泳池公司。</blockquote></p><p></p><p>Fiberglass pools are still a small market in North America compared to international markets, Latham says. The company claims to have a No. 1 market-share position in all the categories it competes in for the North American market.</p><p><blockquote>莱瑟姆说，与国际市场相比，玻璃纤维泳池在北美仍然是一个小市场。该公司声称在北美市场竞争的所有类别中拥有第一的市场份额。</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>IPO Preview: UiPath Inc, KnowBe4, Zymergen, Latham Holdings Highlight Busy Week Of Offerings<blockquote>IPO预览：UiPath Inc、KnowBe4、Zymergen、Latham Holdings重点介绍繁忙的一周发行</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\">\nIPO Preview: UiPath Inc, KnowBe4, Zymergen, Latham Holdings Highlight Busy Week Of Offerings<blockquote>IPO预览：UiPath Inc、KnowBe4、Zymergen、Latham Holdings重点介绍繁忙的一周发行</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-04-19 08:58</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>This week’s offerings don’t have quite the same high profile as last week's highly anticipated IPO of<b>Coinbase Global</b>COIN 5.96%. Nevertheless, there are several excitingIPOsthat investors should consider this week, including UiPath and Latham Holdings.</p><p><blockquote>本周的发行不像上周备受期待的IPO那样引人注目<b>比特币基地全球</b>硬币5.96%。尽管如此，投资者本周应该考虑几个令人兴奋的IPO，包括UiPath和Latham Holdings。</blockquote></p><p>Here is a look at the expected IPO pricings for the week of April 19.</p><p><blockquote>以下是4月19日当周的预期IPO定价。</blockquote></p><p><b>DoubleVerify Holdings:</b>&nbsp;Digital media measurement and analytics company<b>DoubleVerify Holdings</b>&nbsp;NYSE:&nbsp;DV&nbsp;plansto sell 13.3 million shares at a price point of $24 to $27.</p><p><blockquote><b>DoubleVerify控股：</b>数字媒体测量和分析公司<b>双验证控股</b>纽约证券交易所股票代码：DV计划以24至27美元的价格出售1,330万股股票。</blockquote></p><p>The company makes security software for digital advertising and claims to have over 1,000 advertisers and publishers as partners, and more than 45 customers that each account for $1 million in annual revenue for DoubleVerify.</p><p><blockquote>该公司为数字广告生产安全软件，并声称有超过1,000家广告商和出版商作为合作伙伴，以及超过45家客户，每个客户为DoubleVerify贡献了100万美元的年收入。</blockquote></p><p>The company had revenue of $244 million in fiscal 2020, a year-over-year increase of 34%.</p><p><blockquote>该公司2020财年营收2.44亿美元，同比增长34%。</blockquote></p><p><b>NeuroPace:</b>&nbsp;Commercial-stage medical device company<b>NeuroPace</b>&nbsp;NASDAQ:&nbsp;NPCE&nbsp;says it&nbsp;hasthe first and only commercially-available, brain-responsive system to help fight seizures.</p><p><blockquote><b>神经空间：</b>商业化阶段医疗器械公司<b>神经空间</b>纳斯达克：NPCE表示，它拥有第一个也是唯一一个商用的大脑响应系统来帮助对抗癫痫发作。</blockquote></p><p>The company’s target market is customers who have drug-resistant epilepsy. Over 3,000 patients were&nbsp;served by the company through 2020. Neuropace had revenue of $10 million in fiscal 2020 and is guiding for fiscal 2021 revenue of between $11.1 million and $11.3 million.</p><p><blockquote>该公司的目标市场是患有耐药性癫痫的客户。截至2020年，该公司为超过3,000名患者提供了服务。Neuropace 2020财年的收入为1000万美元，预计2021财年的收入在1110万美元至1130万美元之间。</blockquote></p><p>Over $28 billion is spent annually on epilepsy care in the United States. The company plans to sell 5.3 million shares at a price point of $15 to $17.</p><p><blockquote>在美国，每年用于癫痫护理的费用超过280亿美元。该公司计划以15至17美元的价格出售530万股股票。</blockquote></p><p><b>UiPath:</b>Thebiggest IPOof the week is set to be automation company<b>UiPath Inc</b>NYSEPATH, with aplannedoffering of 21.3 million shares at a price point of $43 to $50.</p><p><blockquote><b>UiPath：</b>本周最大的IPO将是自动化公司<b>UiPath公司</b>NYSEPATH计划以43至50美元的价格发行2130万股。</blockquote></p><p>The company “makes software robots so people don’t have to be robots.” The company had annual recurring revenue of $580 million in the fiscal year ended January 31, 2021, for a growth rate of 65%.&nbsp;UiPath says it has over 7,900 customers, with over 1,000 of them paying $100,000 or more annually to the company.</p><p><blockquote>该公司“制造软件机器人，这样人们就不必成为机器人。”截至2021年1月31日的财年，该公司的年度经常性收入为5.8亿美元，增长率为65%。UiPath表示，它拥有超过7,900名客户，其中超过1,000名客户每年向该公司支付10万美元或更多。</blockquote></p><p>The company is targeting a market opportunity of $65 billion and believes its open architecture and end-to-end platform set it apart from competitors.</p><p><blockquote>该公司的目标是650亿美元的市场机会，并相信其开放式架构和端到端平台使其从竞争对手中脱颖而出。</blockquote></p><p><b>SkyWater Technology:</b>Pure-play technology foundry<b>SkyWater Technology</b>&nbsp;NASDAQ:&nbsp;SKYT&nbsp;offerssemiconductor development and manufacturing services, targeting&nbsp;customers in markets like advanced computing, aerospace, defense, automotive and IoT.</p><p><blockquote><b>SkyWater技术：</b>纯技术代工厂<b>天水科技</b>纳斯达克：SKYT提供半导体开发和制造服务，目标客户包括先进计算、航空航天、国防、汽车和物联网等市场。</blockquote></p><p>The company has 35 customers in its advanced technology services including L3Harris and<b>Microsoft Corporation</b>MSFT 0.48%. SkyWater was divested from Cypress Semiconductor in 2017. The company had revenue of $140.4 million in 2020.</p><p><blockquote>该公司的先进技术服务拥有35家客户，包括L3Harris和<b>微软公司</b>MSFT 0.48%。SkyWater于2017年从赛普拉斯半导体剥离。该公司2020年收入为1.404亿美元。</blockquote></p><p>SkyWater plans to sell 5.8 million shares at a price point of $12 to $14.</p><p><blockquote>SkyWater计划以12至14美元的价格出售580万股股票。</blockquote></p><p><b>KnowBe4:</b>Security platform<b>KnowBe4 Inc</b>&nbsp;NASDAQ:&nbsp;KNBE&nbsp;isseekingto sell 11.8 million shares at a price point of $16 to $18.</p><p><blockquote><b>已知4：</b>安全平台<b>KnowBe4公司</b>纳斯达克：KNBE正在寻求以16至18美元的价格出售1180万股股票。</blockquote></p><p>The company serves over 37,000 customers globally in markets worth $15 billion. The company had 45% revenue growth and $198 million in annual recurring revenue last year. It plans to rapidly grow its international operations, which made up 11.9% of revenue in fiscal 2020.</p><p><blockquote>该公司为全球超过37,000名客户提供服务，市场价值150亿美元。该公司去年的收入增长了45%，年度经常性收入为1.98亿美元。该公司计划快速发展其国际业务，该业务占2020财年收入的11.9%。</blockquote></p><p><b>Zymergen: \"</b>Biofacturing\" company<b>Zymergen</b>&nbsp;NASDAQ:&nbsp;ZY&nbsp;plansto sell 13.6 million shares at a price of $28 to $31.</p><p><blockquote><b>Zymergen：“</b>生物制造”公司<b>酶根</b>纳斯达克：ZY计划以28至31美元的价格出售1360万股股票。</blockquote></p><p>The company is working on bio-based products including films that could be used in rollable mobile tablet devices.</p><p><blockquote>该公司正在开发生物基产品，包括可用于可卷曲移动平板设备的薄膜。</blockquote></p><p>The company’s first product, Hyaline, was launched in December 2020, and an additional 10 products are in development. The biofacturing market is worth $1.2 trillion. according to the company.</p><p><blockquote>公司首款产品Hyaline于2020年12月上市，另有10款产品正在开发中。生物制造市场价值1.2万亿美元。据该公司称。</blockquote></p><p><b>Agiliti:</b>Healthcare service provider&nbsp;<b>Agiliti Inc</b>NYSEAGTIsays it&nbsp;hasa customer base of over 7,0000 networks and that&nbsp;90% of U.S. acute and alternate care facilities are within a 100-mile radius of an Agiliti service center. The company is seeking to sell 26.3 million shares at a price point of $18 to $20.</p><p><blockquote><b>敏捷性：</b>医疗服务提供者<b>敏捷公司</b>NYSEAGTI表示，它拥有超过7,000 0个网络的客户群，90%的美国急症和替代护理机构都在Agiliti服务中心100英里半径范围内。该公司寻求以18至20美元的价格出售2630万股股票。</blockquote></p><p><b>Latham Group:</b>A designer, manufacturer and marketer of in-ground residential pools in North America, Australia and New Zealandplansto go public this week.</p><p><blockquote><b>瑞生集团：</b>北美、澳大利亚和新西兰地下住宅泳池的设计者、制造商和营销商计划本周上市。</blockquote></p><p><b>Latham Group</b>&nbsp;NASDAQ:&nbsp;SWIM&nbsp;plans to sell 20 million shares at a price point of $19 to $21.</p><p><blockquote><b>莱瑟姆集团</b>纳斯达克：SWIM计划以19美元至21美元的价格出售2000万股股票。</blockquote></p><p>The company sells fiberglass products that are more durable and use less chemicals, according to the company. Latham sold 8,700 fiberglass pools in 2020 and reported its 11th consecutive year of net sales growth.</p><p><blockquote>据该公司称，该公司销售的玻璃纤维产品更耐用，使用的化学品更少。Latham在2020年销售了8,700个玻璃纤维泳池，并报告了连续11年净销售额增长。</blockquote></p><p>The company had revenue of $408 million in fiscal 2020, and&nbsp;59% of it came from in-ground pool sales.</p><p><blockquote>该公司2020财年的收入为4.08亿美元，其中59%来自地下泳池销售。</blockquote></p><p>In 2018, the company shifted from a business-to-business model to business-to-consumer, making it&nbsp;the only pool company with a direct relationship to the homeowner, according to the company.</p><p><blockquote>据该公司称，2018年，该公司从企业对企业模式转向企业对消费者模式，使其成为唯一一家与房主有直接关系的泳池公司。</blockquote></p><p></p><p>Fiberglass pools are still a small market in North America compared to international markets, Latham says. The company claims to have a No. 1 market-share position in all the categories it competes in for the North American market.</p><p><blockquote>莱瑟姆说，与国际市场相比，玻璃纤维泳池在北美仍然是一个小市场。该公司声称在北美市场竞争的所有类别中拥有第一的市场份额。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NPCE":"NeuroPace Inc.","SWIM":"Latham Group, Inc.","KNBE":"KnowBe4, Inc.","SKYT":"SkyWater Technology, Inc.","PATH":"UiPath","DV":"DoubleVerify Holdings, Inc.","AGTI":"Agiliti, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129471770","content_text":"This week’s offerings don’t have quite the same high profile as last week's highly anticipated IPO ofCoinbase GlobalCOIN 5.96%. Nevertheless, there are several excitingIPOsthat investors should consider this week, including UiPath and Latham Holdings.Here is a look at the expected IPO pricings for the week of April 19.DoubleVerify Holdings: Digital media measurement and analytics companyDoubleVerify Holdings NYSE: DV plansto sell 13.3 million shares at a price point of $24 to $27.The company makes security software for digital advertising and claims to have over 1,000 advertisers and publishers as partners, and more than 45 customers that each account for $1 million in annual revenue for DoubleVerify.The company had revenue of $244 million in fiscal 2020, a year-over-year increase of 34%.NeuroPace: Commercial-stage medical device companyNeuroPace NASDAQ: NPCE says it hasthe first and only commercially-available, brain-responsive system to help fight seizures.The company’s target market is customers who have drug-resistant epilepsy. Over 3,000 patients were served by the company through 2020. Neuropace had revenue of $10 million in fiscal 2020 and is guiding for fiscal 2021 revenue of between $11.1 million and $11.3 million.Over $28 billion is spent annually on epilepsy care in the United States. The company plans to sell 5.3 million shares at a price point of $15 to $17.UiPath:Thebiggest IPOof the week is set to be automation companyUiPath IncNYSEPATH, with aplannedoffering of 21.3 million shares at a price point of $43 to $50.The company “makes software robots so people don’t have to be robots.” The company had annual recurring revenue of $580 million in the fiscal year ended January 31, 2021, for a growth rate of 65%. UiPath says it has over 7,900 customers, with over 1,000 of them paying $100,000 or more annually to the company.The company is targeting a market opportunity of $65 billion and believes its open architecture and end-to-end platform set it apart from competitors.SkyWater Technology:Pure-play technology foundrySkyWater Technology NASDAQ: SKYT offerssemiconductor development and manufacturing services, targeting customers in markets like advanced computing, aerospace, defense, automotive and IoT.The company has 35 customers in its advanced technology services including L3Harris andMicrosoft CorporationMSFT 0.48%. SkyWater was divested from Cypress Semiconductor in 2017. The company had revenue of $140.4 million in 2020.SkyWater plans to sell 5.8 million shares at a price point of $12 to $14.KnowBe4:Security platformKnowBe4 Inc NASDAQ: KNBE isseekingto sell 11.8 million shares at a price point of $16 to $18.The company serves over 37,000 customers globally in markets worth $15 billion. The company had 45% revenue growth and $198 million in annual recurring revenue last year. It plans to rapidly grow its international operations, which made up 11.9% of revenue in fiscal 2020.Zymergen: \"Biofacturing\" companyZymergen NASDAQ: ZY plansto sell 13.6 million shares at a price of $28 to $31.The company is working on bio-based products including films that could be used in rollable mobile tablet devices.The company’s first product, Hyaline, was launched in December 2020, and an additional 10 products are in development. The biofacturing market is worth $1.2 trillion. according to the company.Agiliti:Healthcare service provider Agiliti IncNYSEAGTIsays it hasa customer base of over 7,0000 networks and that 90% of U.S. acute and alternate care facilities are within a 100-mile radius of an Agiliti service center. The company is seeking to sell 26.3 million shares at a price point of $18 to $20.Latham Group:A designer, manufacturer and marketer of in-ground residential pools in North America, Australia and New Zealandplansto go public this week.Latham Group NASDAQ: SWIM plans to sell 20 million shares at a price point of $19 to $21.The company sells fiberglass products that are more durable and use less chemicals, according to the company. Latham sold 8,700 fiberglass pools in 2020 and reported its 11th consecutive year of net sales growth.The company had revenue of $408 million in fiscal 2020, and 59% of it came from in-ground pool sales.In 2018, the company shifted from a business-to-business model to business-to-consumer, making it the only pool company with a direct relationship to the homeowner, according to the company.Fiberglass pools are still a small market in North America compared to international markets, Latham says. The company claims to have a No. 1 market-share position in all the categories it competes in for the North American market.","news_type":1,"symbols_score_info":{"AGTI":0.9,"NPCE":0.9,"DV":0.9,"KNBE":0.9,"SKYT":0.9,"ZY":0.9,"SWIM":0.9,"PATH":0.9}},"isVote":1,"tweetType":1,"viewCount":1589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373025284,"gmtCreate":1618805007348,"gmtModify":1634290799725,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/373025284","repostId":"1181769877","repostType":4,"repost":{"id":"1181769877","kind":"news","pubTimestamp":1618804724,"share":"https://www.laohu8.com/m/news/1181769877?lang=zh_CN&edition=full","pubTime":"2021-04-19 11:58","market":"us","language":"en","title":"\"Stunning Divergence\": Latest Bank Data Reveals Something Is Terminally Broken In The Financial System<blockquote>“惊人的分歧”：最新的银行数据显示金融体系出现了彻底的崩溃</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181769877","media":"zerohedge","summary":"There was a remarkable disclosure in thelatest JPMorgan earnings report: the largest US bank -an ent","content":"<p>There was a remarkable disclosure in thelatest JPMorgan earnings report: the largest US bank -<i><b>an entity that historically has best been known for making loans to the broader population</b></i>- reported that in Q1 its total deposits rose by a<b>whopping 24% Y/Y</b>and<b>up 6%</b>from Q4, to $2.278 trillion, while the total amount of loans issued by the bank was virtually flat sequentially at $1.011 trillion, and<b>down4%</b>from a year ago.</p><p><blockquote>摩根大通最新的收益报告中有一个引人注目的披露：美国最大的银行——<i><b>历史上以向更广泛的人群提供贷款而闻名的实体</b></i>-报告称，第一季度其存款总额增长了<b>同比增长24%</b>和<b>上涨6%</b>从第四季度到2.278万亿美元，而该银行发放的贷款总额几乎与上一季度持平，为1.011万亿美元，<b>下降4%</b>从一年前开始。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cbd35c95e3ba4eaeaa213b19b6e6b5cc\" tg-width=\"500\" tg-height=\"251\">In other words, for the first time in its history,<b>JPM had 100% more deposits than loans, or inversely, the ratio of loans to deposits dropped below 50% for the third quarter in a row after plunging in the aftermath of the covid pandemic:</b></p><p><blockquote>换句话说，在其历史上第一次，<b>摩根大通的存款比贷款多100%，反之亦然，贷存比在新冠疫情后暴跌后连续第三季度降至50%以下：</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/88af739d0bd73ca752ba72a295368d53\" tg-width=\"500\" tg-height=\"288\">An even more stunning divergence between total deposits and loans, emerges at Bank of America where deposits similarly hit a new all time high of $1.88 trillion, even as the bank's loans have continued to shrink at an alarming, deleveraging (and<i><b>deflationary</b></i>) pace and are now at $911 billion,<b>below their level during the great financial crisis:</b><b><u>in other words, there has been 12 years with zero loan growth at Bank of America</u></b><b>!</b></p><p><blockquote>美国银行的存款和贷款总额之间出现了更惊人的差异，该银行的存款同样创下了1.88万亿美元的历史新高，尽管该银行的贷款继续以惊人的去杠杆化（和<i><b>通货紧缩的</b></i>）的步伐，目前为9110亿美元，<b>低于金融危机期间的水平：</b><b><u>换句话说，美国银行已经有12年的贷款零增长</u></b><b>！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a1febc12a0eabe3e22c432aa693e58d\" tg-width=\"500\" tg-height=\"289\">It's not any better at either Citigroup...</p><p><blockquote>花旗集团的情况也好不到哪里去...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6a99c5af10fb3b98af9f6769114dc873\" tg-width=\"500\" tg-height=\"290\">... or even Wells Fargo (which while having been limited by the Fed in how much loans it can issue, apparently has had no limit on how many deposits it can collect):</p><p><blockquote>...甚至是富国银行（虽然美联储限制了其可以发放的贷款数量，但显然对其可以收取的存款数量没有限制）：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/187ef83b0ba80c5d8df469d36aab390e\" tg-width=\"500\" tg-height=\"290\">Summarizing the above data, we get the following picture breaking down total loans by Big-4 bank:</p><p><blockquote>总结上述数据，我们得到以下按四大银行划分的贷款总额：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cee3e3866c508adf5bddca1cab9d8109\" tg-width=\"500\" tg-height=\"273\">And total deposits.</p><p><blockquote>和存款总额。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a14f5b3ebc875449fba6a946a15f7e4\" tg-width=\"500\" tg-height=\"275\"><b>Finally, aggregating the data across the big 4 banks shows something striking: there has been no loan growth since the global financial crisis, while total deposits have doubled!</b></p><p><blockquote><b>最后，汇总四大银行的数据显示了一些惊人的情况：自全球金融危机以来，贷款没有增长，而存款总额却翻了一番！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/076ebbb5a6a365b1a770360d671cc3c2\" tg-width=\"500\" tg-height=\"289\">There are two major implications one should draw from the collapsing loan-to-deposit ratio. The first, more superficial one is that this ratio is a closely watched metric that measures how much lending a bank is doing when compared to its capacity to lend.</p><p><blockquote>人们应该从不断崩溃的贷存比中得出两个主要含义。第一个更肤浅的问题是，这一比率是一个受到密切关注的指标，衡量银行的贷款额与其放贷能力相比。</blockquote></p><p> The second, and far more profound implication, is arguably the most fundamental question in modern fractional reserve banking: what comes first, loans or deposits, in other words do private, commercial banks create the money in circulation (by first lending it out) or is the central bank responsible for money creation?</p><p><blockquote>第二个，也是更深刻的含义，可以说是现代部分准备金银行学中最基本的问题：贷款和存款哪个先出现，换句话说，是私人商业银行创造了流通中的货币（通过首先放贷），还是中央银行负责货币创造？</blockquote></p><p> One thing that is now beyond debate:<b>there are now far more deposits than there are loans in the US banking system.</b></p><p><blockquote>有一件事现在是无可争议的：<b>现在美国银行系统的存款远远多于贷款。</b></blockquote></p><p> This is a problem because most conventional monetarists will argue that loans always come first, and only then do banks receive deposits.</p><p><blockquote>这是一个问题，因为大多数传统的货币主义者会争辩说，贷款永远是第一位的，只有这样银行才会接收存款。</blockquote></p><p> It gets worse: as everyone now knows, we live in an MMT world where the Fed and Treasury have merged and where one basically monetizes what the other has to sell. And since the rainbows and unicorns world of MMT says that there is nothing to worry about from such debt monetization, even respected economists have been swept into this absolute idiocy and are urging the US to issue as much debt as it possibly can (with the Biden administration glad to oblige).</p><p><blockquote>情况变得更糟：众所周知，我们生活在一个MMT世界，美联储和财政部已经合并，一方基本上将另一方必须出售的东西货币化。由于MMT的彩虹和独角兽世界表示，这种债务货币化没有什么可担心的，即使是受人尊敬的经济学家也被卷入了这种绝对的白痴行为，并敦促美国尽可能多地发行债务（拜登政府很乐意答应）。</blockquote></p><p> There is just one problem: as of this moment, the core tenet of MMT is no longer applicable. As a reminder, according to MMT<b>loans create deposits not the other way around,</b>and this socialist crackpot theory further claims that Reserve balances have nothing to do with this – they are part of the banking system that ensure financial stability. Don't believe us? Watch the following clip from one of the priests of MMT, Warrn Mosler who explains how \"<b>loans create deposits.\"</b>Only... clearly that's no longer the case, and the<b>empirical data shown above makes patently obvious that the core, anchor theory of MMT on which all its other laughable theories are built is false,</b>with huge consequences for a world that has thrown its future into a world prescribed by said crackpot theory.</p><p><blockquote>只有一个问题：截至目前，MMT的核心原则不再适用。提醒一下，根据MMT<b>贷款创造存款而不是相反，</b>这种社会主义疯狂理论进一步声称，准备金余额与此无关——它们是确保金融稳定的银行体系的一部分。不相信我们？观看MMT牧师之一Warrn Mosler的以下剪辑，他解释了如何“<b>贷款创造存款。”</b>只有...显然情况不再是这样了<b>上面显示的经验数据清楚地表明，MMT的核心、锚定理论是错误的，它所有其他可笑的理论都是建立在这个基础上的，</b>对于一个把自己的未来扔进了一个由这种疯狂理论所规定的世界的世界来说，这将会产生巨大的后果。</blockquote></p><p> <b>The recent loan and deposit data also means that the conventional process of deposit creation via loans is terminally broken.</b></p><p><blockquote><b>最近的贷款和存款数据也意味着通过贷款创造存款的常规过程被彻底打破。</b></blockquote></p><p></p><p> Indeed, that's precisely the case with the missing link being - drumroll - the Fed,as we explained all the way back, in 2014. Here is the punchline of what we said then, when we did a similar analysis observing what was already a record amount of excess deposits over loans:</p><p><blockquote>事实上，正如我们在2014年解释的那样，缺失的环节正是美联储。以下是我们当时所说的笑点，当时我们进行了类似的分析，观察到存款超过贷款的数量已经创历史新高：</blockquote></p><p>   ... how does the record mismatch between deposits and loans look like? Well, for the Big 4 US banks, JPM, Wells, BofA and Citi it looks as follows.  <img src=\"https://static.tigerbbs.com/f936cf95378ced614eae0d4a4442defc\" tg-width=\"500\" tg-height=\"305\">What the above chart simply shows is the breakdown in the Excess Deposit over Loan series, which is shown in the chart below, which tracks the historical change in commercial bank loans and deposits. What is immediately obvious is that while loans and deposits moved hand in hand for most of history, starting with the collapse of Lehman loan creation has been virtually non-existent (total loans are now at levels seen at the time of Lehman's collapse) while deposits have risen to just about $10 trillion.<b>It is here that the Fed's excess reserves have gone - the delta between the two is almost precisely the total amount ofreserves injectedby the Fed since the Lehman crisis.</b></p><p><blockquote>...存贷款的记录错配是什么样子的？嗯，对于美国四大银行，摩根大通、富国银行、美国银行和花旗来说，情况如下。上图简单地显示了存款超过贷款系列的细分，如下图所示，该图表跟踪了商业银行贷款和存款的历史变化。显而易见的是，虽然贷款和存款在历史上的大部分时间里是齐头并进的，但从雷曼兄弟倒闭开始，贷款创造几乎不存在（贷款总额现在处于雷曼兄弟倒闭时的水平），而存款却上升到了10万亿美元左右。<b>正是在这里，美联储的超额准备金消失了——两者之间的增量几乎正好是自雷曼危机以来美联储注入的准备金总量。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5579de247a3b78c403d7a2a488f8e612\" tg-width=\"500\" tg-height=\"331\">So what does all of this mean? In a nutshell, with the Fed now tapering QE and deposit formation slowing, banks will have no choice but to issue loans to offset the lack of outside money injection by the Fed. In other words, while bank \"deposits\" have already experienced the benefit of \"future inflation\", and have manifested it in the stock market, it is now the turn of the matching asset to catch up. Which also means that while \"deposit\" growth (i.e., parked reserves) in the future will slow to a trickle, banks will have no choice but to flood the country with $2.5 trillion in loans, or a third of the currently outstanding loans,<b>just to catch up to the head start provided by the Fed!</b></p><p><blockquote>那么这一切意味着什么呢？简而言之，随着美联储现在缩减QE和存款形成放缓，银行将别无选择，只能发放贷款来抵消美联储外部资金注入的不足。也就是说，在银行“存款”已经尝到了“未来通胀”的甜头，并在股市中有所表现的同时，现在轮到匹配资产奋起直追了。这也意味着，虽然未来的“存款”增长（即闲置准备金）将放缓至涓涓细流，但银行将别无选择，只能向全国提供2.5万亿美元的贷款，或目前未偿贷款的三分之一，<b>只是为了赶上美联储提供的领先优势！</b></blockquote></p><p> <b>It is this loan creation that will jump start inside money and the flow through to the economy, resulting in the long-overdue growth.</b>It is also this loan creation that means banks will no longer speculate as prop traders with the excess liquidity but go back to their roots as lenders.<b>Most importantly, once banks launch this wholesale lending effort, it is then and only then that the true pernicious inflation from what the Fed has done in the past 5 years will finally rear its ugly head</b>.</p><p><blockquote><b>正是这种贷款创造将启动货币内部并流向经济，从而带来早该出现的增长。</b>也正是这种贷款创造意味着银行将不再作为拥有过剩流动性的自营交易者进行投机，而是回到作为贷款人的根源。<b>最重要的是，一旦银行开始大规模放贷，只有到那时，美联储过去5年所做的真正有害的通胀才会最终抬头</b>.</blockquote></p><p> It will also come as no surprise to anyone, that updating the chart we first showed in 2014 correctly explains today's reality, something which MMT is completely incapable of doing: as shown below the excess deposits over loans is entirely driven by the trillions in reserves pumped by the Fed!</p><p><blockquote>任何人都不会感到惊讶的是，更新我们在2014年首次展示的图表正确地解释了今天的现实，这是MMT完全无法做到的：如下图所示，存款超过贷款的过剩完全是由美联储注入的数万亿储备驱动的！</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ac78c6f58eddb6aa6185746284f1e76\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote></blockquote></p><p> The above also explains why even as the Fed has pumped trillions in reserves into banks, which by transformation have ended up as deposits on bank balance sheets,<b>the velocity of M2 money has plunged to an all time low</b>(and will soon drop below the fractional reserve system<i><b>singularity of 1.0x</b></i>), as<b>loan demand is nowhere near enough to offset the Fed's forced deposit creation which incidentally ends up</b><b><i>not in the economy but in capital markets,</i></b><b>resulting in broad deflation offset by asset price hyperinflation.</b></p><p><blockquote>上述也解释了为什么即使美联储向银行注入了数万亿的准备金，这些准备金通过转型最终成为银行资产负债表上的存款，<b>M2货币流通速度已降至历史新低</b>（并将很快降至部分准备金制度之下<i><b>1.0 x的奇异性</b></i>），作为<b>贷款需求远不足以抵消美联储强制创造的存款，而最终却意外地结束了</b><b><i>不是在经济而是在资本市场，</i></b><b>导致广泛的通货紧缩被资产价格恶性通货膨胀所抵消。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/3f9b7c79f47c161eefece6a418d2beef\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote></blockquote></p><p> One final reason why this data is absolutely critical: in a world where the dominant daily argument is whether the US is facing deflation or inflation, and where many have become convinced that we are facing a surge in higher prices, continued loan destruction is about the most deflationary thing possible. But don't take our word for it - here is an excerpt from the latest \"Flows and Liquidity\" report from JPMorgan strategist Nick Panigirtzoglou titled \"<i>The challenge from weak bank lending</i>\" in which he confirms all of the above observations, and writes that \"a common feature of this week's US bank earnings reports has been the weakness in loan growth. Indeed, weekly data from the Fed's H8 release shows that the pace of US bank lending remains in negative territory, exhibiting persistent weakness since last summer\"</p><p><blockquote>这一数据绝对至关重要的最后一个原因是：在一个日常主要争论是美国面临通货紧缩还是通胀的世界里，许多人已经确信我们正面临物价飙升，持续的贷款破坏是最可能发生的通货紧缩的事情。但不要相信我们的话——以下是摩根大通策略师Nick Panigirtzoglou最新“流量和流动性”报告的摘录，题为“<i>银行贷款疲软带来的挑战</i>”他在其中证实了上述所有观察结果，并写道“本周美国银行盈利报告的一个共同特征是贷款增长疲软。事实上，美联储H8发布的每周数据显示，美国银行贷款速度仍处于负值区域，自去年夏天以来持续疲软。”</blockquote></p><p></p><p> This persistent weakness, Panigirtzoglou writes, \"followed a temporary spike in bank lending during Q2 2020, immediately after the virus crisis erupted, and is reminiscent of the US bank lending trajectory after the Lehman crisis. After a temporary spike immediately after the Lehman crisis, driven by companies and consumers tapping bank credit lines, the pace of US bank lending had remained largely in negative territory up until the middle of 2011. Although it entered positive territory after 2011,<b>the pace of US bank lending had stayed significantly below pre -Lehman crisis levels, an important feature of the secular stagnation thesis</b>.\"</p><p><blockquote>Panigirtzoglou写道，这种持续的疲软“紧随病毒危机爆发后，Q2 2020年银行贷款暂时飙升，让人想起雷曼危机后美国银行贷款的轨迹。在雷曼危机后，在企业和消费者利用银行信贷额度的推动下，美国银行贷款的速度在2011年年中之前一直保持在负值区间。虽然2011年后进入正值区域，<b>美国银行放贷的速度远低于雷曼危机前的水平，这是长期停滞论的一个重要特征</b>.\"</blockquote></p><p> The JPM quant then concedes that it remains to be seen \"whether the protracted post Lehman period weakness in bank lending would be repeated in the current post virus cycle\" although what is likely to be the case \"is that the future trajectory for bank lending would be important in determining both the inflation and liquidity picture over the longer term.\"</p><p><blockquote>摩根大通量化分析师随后承认，“雷曼兄弟时期银行贷款的长期疲软是否会在当前的后病毒周期中重演”还有待观察，尽管很可能的情况是“银行贷款的未来轨迹”对于确定长期通胀和流动性状况非常重要。”</blockquote></p><p> And the JPM punchline:</p><p><blockquote>摩根大通的笑点是：</blockquote></p><p>   <i><b>\"A repeat of the post Lehman period protracted weakness in bank lending would cast doubt to the idea of a sustained inflation impulse over the coming years. It would also act as a drag for money supply and liquidity creation going forward, reducing a key driver of asset prices.\"</b></i>  Indeed, the next chart shows that money creation has been already normalizing from the torrid pace of the first half of 2020.</p><p><blockquote><i><b>“后雷曼时期银行贷款长期疲软的重演将使人们对未来几年持续通胀冲动的想法产生怀疑。这也将拖累未来的货币供应和流动性创造，减少资产价格的关键驱动因素。”</b></i>事实上，下图显示，货币创造已经从2020年上半年的火热步伐正常化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8fe0c1e42cddbb22952eef0f86744516\" tg-width=\"500\" tg-height=\"388\">Looking ahead, central bank tapering in 2022 - or whenever it arrives...</p><p><blockquote>展望未来，央行将在2022年或任何时候缩减规模...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/813bcc5ee519bda92783202065c85a28\" tg-width=\"500\" tg-height=\"387\">.. would likely induce further slowing in money creation over the coming years according to JPM, unless bank lending improves avoiding the protracted weakness of the post Lehman period.</p><p><blockquote>..摩根大通表示，除非银行贷款改善，避免后雷曼时期的长期疲软，否则未来几年货币创造可能会进一步放缓。</blockquote></p><p> JPMorgan's ominous concludes, \"<b>whether the protracted post Lehman period weakness in bank lending is repeated in the current post virus cycle will be critical in determining both the inflation and liquidity picture over the longer term. So far the trajectory for bank lending shows more similarities than differences to the post Lehman crisis period.\"</b></p><p><blockquote>摩根大通的不祥结论是，“<b>雷曼兄弟时期银行贷款的长期疲软是否会在当前的后病毒周期中重演，对于决定长期通胀和流动性状况至关重要。到目前为止，银行贷款的轨迹与雷曼危机后时期的相似之处多于差异。”</b></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Stunning Divergence\": Latest Bank Data Reveals Something Is Terminally Broken In The Financial System<blockquote>“惊人的分歧”：最新的银行数据显示金融体系出现了彻底的崩溃</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\">\n\"Stunning Divergence\": Latest Bank Data Reveals Something Is Terminally Broken In The Financial System<blockquote>“惊人的分歧”：最新的银行数据显示金融体系出现了彻底的崩溃</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-19 11:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There was a remarkable disclosure in thelatest JPMorgan earnings report: the largest US bank -<i><b>an entity that historically has best been known for making loans to the broader population</b></i>- reported that in Q1 its total deposits rose by a<b>whopping 24% Y/Y</b>and<b>up 6%</b>from Q4, to $2.278 trillion, while the total amount of loans issued by the bank was virtually flat sequentially at $1.011 trillion, and<b>down4%</b>from a year ago.</p><p><blockquote>摩根大通最新的收益报告中有一个引人注目的披露：美国最大的银行——<i><b>历史上以向更广泛的人群提供贷款而闻名的实体</b></i>-报告称，第一季度其存款总额增长了<b>同比增长24%</b>和<b>上涨6%</b>从第四季度到2.278万亿美元，而该银行发放的贷款总额几乎与上一季度持平，为1.011万亿美元，<b>下降4%</b>从一年前开始。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cbd35c95e3ba4eaeaa213b19b6e6b5cc\" tg-width=\"500\" tg-height=\"251\">In other words, for the first time in its history,<b>JPM had 100% more deposits than loans, or inversely, the ratio of loans to deposits dropped below 50% for the third quarter in a row after plunging in the aftermath of the covid pandemic:</b></p><p><blockquote>换句话说，在其历史上第一次，<b>摩根大通的存款比贷款多100%，反之亦然，贷存比在新冠疫情后暴跌后连续第三季度降至50%以下：</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/88af739d0bd73ca752ba72a295368d53\" tg-width=\"500\" tg-height=\"288\">An even more stunning divergence between total deposits and loans, emerges at Bank of America where deposits similarly hit a new all time high of $1.88 trillion, even as the bank's loans have continued to shrink at an alarming, deleveraging (and<i><b>deflationary</b></i>) pace and are now at $911 billion,<b>below their level during the great financial crisis:</b><b><u>in other words, there has been 12 years with zero loan growth at Bank of America</u></b><b>!</b></p><p><blockquote>美国银行的存款和贷款总额之间出现了更惊人的差异，该银行的存款同样创下了1.88万亿美元的历史新高，尽管该银行的贷款继续以惊人的去杠杆化（和<i><b>通货紧缩的</b></i>）的步伐，目前为9110亿美元，<b>低于金融危机期间的水平：</b><b><u>换句话说，美国银行已经有12年的贷款零增长</u></b><b>！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a1febc12a0eabe3e22c432aa693e58d\" tg-width=\"500\" tg-height=\"289\">It's not any better at either Citigroup...</p><p><blockquote>花旗集团的情况也好不到哪里去...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6a99c5af10fb3b98af9f6769114dc873\" tg-width=\"500\" tg-height=\"290\">... or even Wells Fargo (which while having been limited by the Fed in how much loans it can issue, apparently has had no limit on how many deposits it can collect):</p><p><blockquote>...甚至是富国银行（虽然美联储限制了其可以发放的贷款数量，但显然对其可以收取的存款数量没有限制）：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/187ef83b0ba80c5d8df469d36aab390e\" tg-width=\"500\" tg-height=\"290\">Summarizing the above data, we get the following picture breaking down total loans by Big-4 bank:</p><p><blockquote>总结上述数据，我们得到以下按四大银行划分的贷款总额：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cee3e3866c508adf5bddca1cab9d8109\" tg-width=\"500\" tg-height=\"273\">And total deposits.</p><p><blockquote>和存款总额。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a14f5b3ebc875449fba6a946a15f7e4\" tg-width=\"500\" tg-height=\"275\"><b>Finally, aggregating the data across the big 4 banks shows something striking: there has been no loan growth since the global financial crisis, while total deposits have doubled!</b></p><p><blockquote><b>最后，汇总四大银行的数据显示了一些惊人的情况：自全球金融危机以来，贷款没有增长，而存款总额却翻了一番！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/076ebbb5a6a365b1a770360d671cc3c2\" tg-width=\"500\" tg-height=\"289\">There are two major implications one should draw from the collapsing loan-to-deposit ratio. The first, more superficial one is that this ratio is a closely watched metric that measures how much lending a bank is doing when compared to its capacity to lend.</p><p><blockquote>人们应该从不断崩溃的贷存比中得出两个主要含义。第一个更肤浅的问题是，这一比率是一个受到密切关注的指标，衡量银行的贷款额与其放贷能力相比。</blockquote></p><p> The second, and far more profound implication, is arguably the most fundamental question in modern fractional reserve banking: what comes first, loans or deposits, in other words do private, commercial banks create the money in circulation (by first lending it out) or is the central bank responsible for money creation?</p><p><blockquote>第二个，也是更深刻的含义，可以说是现代部分准备金银行学中最基本的问题：贷款和存款哪个先出现，换句话说，是私人商业银行创造了流通中的货币（通过首先放贷），还是中央银行负责货币创造？</blockquote></p><p> One thing that is now beyond debate:<b>there are now far more deposits than there are loans in the US banking system.</b></p><p><blockquote>有一件事现在是无可争议的：<b>现在美国银行系统的存款远远多于贷款。</b></blockquote></p><p> This is a problem because most conventional monetarists will argue that loans always come first, and only then do banks receive deposits.</p><p><blockquote>这是一个问题，因为大多数传统的货币主义者会争辩说，贷款永远是第一位的，只有这样银行才会接收存款。</blockquote></p><p> It gets worse: as everyone now knows, we live in an MMT world where the Fed and Treasury have merged and where one basically monetizes what the other has to sell. And since the rainbows and unicorns world of MMT says that there is nothing to worry about from such debt monetization, even respected economists have been swept into this absolute idiocy and are urging the US to issue as much debt as it possibly can (with the Biden administration glad to oblige).</p><p><blockquote>情况变得更糟：众所周知，我们生活在一个MMT世界，美联储和财政部已经合并，一方基本上将另一方必须出售的东西货币化。由于MMT的彩虹和独角兽世界表示，这种债务货币化没有什么可担心的，即使是受人尊敬的经济学家也被卷入了这种绝对的白痴行为，并敦促美国尽可能多地发行债务（拜登政府很乐意答应）。</blockquote></p><p> There is just one problem: as of this moment, the core tenet of MMT is no longer applicable. As a reminder, according to MMT<b>loans create deposits not the other way around,</b>and this socialist crackpot theory further claims that Reserve balances have nothing to do with this – they are part of the banking system that ensure financial stability. Don't believe us? Watch the following clip from one of the priests of MMT, Warrn Mosler who explains how \"<b>loans create deposits.\"</b>Only... clearly that's no longer the case, and the<b>empirical data shown above makes patently obvious that the core, anchor theory of MMT on which all its other laughable theories are built is false,</b>with huge consequences for a world that has thrown its future into a world prescribed by said crackpot theory.</p><p><blockquote>只有一个问题：截至目前，MMT的核心原则不再适用。提醒一下，根据MMT<b>贷款创造存款而不是相反，</b>这种社会主义疯狂理论进一步声称，准备金余额与此无关——它们是确保金融稳定的银行体系的一部分。不相信我们？观看MMT牧师之一Warrn Mosler的以下剪辑，他解释了如何“<b>贷款创造存款。”</b>只有...显然情况不再是这样了<b>上面显示的经验数据清楚地表明，MMT的核心、锚定理论是错误的，它所有其他可笑的理论都是建立在这个基础上的，</b>对于一个把自己的未来扔进了一个由这种疯狂理论所规定的世界的世界来说，这将会产生巨大的后果。</blockquote></p><p> <b>The recent loan and deposit data also means that the conventional process of deposit creation via loans is terminally broken.</b></p><p><blockquote><b>最近的贷款和存款数据也意味着通过贷款创造存款的常规过程被彻底打破。</b></blockquote></p><p></p><p> Indeed, that's precisely the case with the missing link being - drumroll - the Fed,as we explained all the way back, in 2014. Here is the punchline of what we said then, when we did a similar analysis observing what was already a record amount of excess deposits over loans:</p><p><blockquote>事实上，正如我们在2014年解释的那样，缺失的环节正是美联储。以下是我们当时所说的笑点，当时我们进行了类似的分析，观察到存款超过贷款的数量已经创历史新高：</blockquote></p><p>   ... how does the record mismatch between deposits and loans look like? Well, for the Big 4 US banks, JPM, Wells, BofA and Citi it looks as follows.  <img src=\"https://static.tigerbbs.com/f936cf95378ced614eae0d4a4442defc\" tg-width=\"500\" tg-height=\"305\">What the above chart simply shows is the breakdown in the Excess Deposit over Loan series, which is shown in the chart below, which tracks the historical change in commercial bank loans and deposits. What is immediately obvious is that while loans and deposits moved hand in hand for most of history, starting with the collapse of Lehman loan creation has been virtually non-existent (total loans are now at levels seen at the time of Lehman's collapse) while deposits have risen to just about $10 trillion.<b>It is here that the Fed's excess reserves have gone - the delta between the two is almost precisely the total amount ofreserves injectedby the Fed since the Lehman crisis.</b></p><p><blockquote>...存贷款的记录错配是什么样子的？嗯，对于美国四大银行，摩根大通、富国银行、美国银行和花旗来说，情况如下。上图简单地显示了存款超过贷款系列的细分，如下图所示，该图表跟踪了商业银行贷款和存款的历史变化。显而易见的是，虽然贷款和存款在历史上的大部分时间里是齐头并进的，但从雷曼兄弟倒闭开始，贷款创造几乎不存在（贷款总额现在处于雷曼兄弟倒闭时的水平），而存款却上升到了10万亿美元左右。<b>正是在这里，美联储的超额准备金消失了——两者之间的增量几乎正好是自雷曼危机以来美联储注入的准备金总量。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5579de247a3b78c403d7a2a488f8e612\" tg-width=\"500\" tg-height=\"331\">So what does all of this mean? In a nutshell, with the Fed now tapering QE and deposit formation slowing, banks will have no choice but to issue loans to offset the lack of outside money injection by the Fed. In other words, while bank \"deposits\" have already experienced the benefit of \"future inflation\", and have manifested it in the stock market, it is now the turn of the matching asset to catch up. Which also means that while \"deposit\" growth (i.e., parked reserves) in the future will slow to a trickle, banks will have no choice but to flood the country with $2.5 trillion in loans, or a third of the currently outstanding loans,<b>just to catch up to the head start provided by the Fed!</b></p><p><blockquote>那么这一切意味着什么呢？简而言之，随着美联储现在缩减QE和存款形成放缓，银行将别无选择，只能发放贷款来抵消美联储外部资金注入的不足。也就是说，在银行“存款”已经尝到了“未来通胀”的甜头，并在股市中有所表现的同时，现在轮到匹配资产奋起直追了。这也意味着，虽然未来的“存款”增长（即闲置准备金）将放缓至涓涓细流，但银行将别无选择，只能向全国提供2.5万亿美元的贷款，或目前未偿贷款的三分之一，<b>只是为了赶上美联储提供的领先优势！</b></blockquote></p><p> <b>It is this loan creation that will jump start inside money and the flow through to the economy, resulting in the long-overdue growth.</b>It is also this loan creation that means banks will no longer speculate as prop traders with the excess liquidity but go back to their roots as lenders.<b>Most importantly, once banks launch this wholesale lending effort, it is then and only then that the true pernicious inflation from what the Fed has done in the past 5 years will finally rear its ugly head</b>.</p><p><blockquote><b>正是这种贷款创造将启动货币内部并流向经济，从而带来早该出现的增长。</b>也正是这种贷款创造意味着银行将不再作为拥有过剩流动性的自营交易者进行投机，而是回到作为贷款人的根源。<b>最重要的是，一旦银行开始大规模放贷，只有到那时，美联储过去5年所做的真正有害的通胀才会最终抬头</b>.</blockquote></p><p> It will also come as no surprise to anyone, that updating the chart we first showed in 2014 correctly explains today's reality, something which MMT is completely incapable of doing: as shown below the excess deposits over loans is entirely driven by the trillions in reserves pumped by the Fed!</p><p><blockquote>任何人都不会感到惊讶的是，更新我们在2014年首次展示的图表正确地解释了今天的现实，这是MMT完全无法做到的：如下图所示，存款超过贷款的过剩完全是由美联储注入的数万亿储备驱动的！</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ac78c6f58eddb6aa6185746284f1e76\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote></blockquote></p><p> The above also explains why even as the Fed has pumped trillions in reserves into banks, which by transformation have ended up as deposits on bank balance sheets,<b>the velocity of M2 money has plunged to an all time low</b>(and will soon drop below the fractional reserve system<i><b>singularity of 1.0x</b></i>), as<b>loan demand is nowhere near enough to offset the Fed's forced deposit creation which incidentally ends up</b><b><i>not in the economy but in capital markets,</i></b><b>resulting in broad deflation offset by asset price hyperinflation.</b></p><p><blockquote>上述也解释了为什么即使美联储向银行注入了数万亿的准备金，这些准备金通过转型最终成为银行资产负债表上的存款，<b>M2货币流通速度已降至历史新低</b>（并将很快降至部分准备金制度之下<i><b>1.0 x的奇异性</b></i>），作为<b>贷款需求远不足以抵消美联储强制创造的存款，而最终却意外地结束了</b><b><i>不是在经济而是在资本市场，</i></b><b>导致广泛的通货紧缩被资产价格恶性通货膨胀所抵消。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/3f9b7c79f47c161eefece6a418d2beef\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote></blockquote></p><p> One final reason why this data is absolutely critical: in a world where the dominant daily argument is whether the US is facing deflation or inflation, and where many have become convinced that we are facing a surge in higher prices, continued loan destruction is about the most deflationary thing possible. But don't take our word for it - here is an excerpt from the latest \"Flows and Liquidity\" report from JPMorgan strategist Nick Panigirtzoglou titled \"<i>The challenge from weak bank lending</i>\" in which he confirms all of the above observations, and writes that \"a common feature of this week's US bank earnings reports has been the weakness in loan growth. Indeed, weekly data from the Fed's H8 release shows that the pace of US bank lending remains in negative territory, exhibiting persistent weakness since last summer\"</p><p><blockquote>这一数据绝对至关重要的最后一个原因是：在一个日常主要争论是美国面临通货紧缩还是通胀的世界里，许多人已经确信我们正面临物价飙升，持续的贷款破坏是最可能发生的通货紧缩的事情。但不要相信我们的话——以下是摩根大通策略师Nick Panigirtzoglou最新“流量和流动性”报告的摘录，题为“<i>银行贷款疲软带来的挑战</i>”他在其中证实了上述所有观察结果，并写道“本周美国银行盈利报告的一个共同特征是贷款增长疲软。事实上，美联储H8发布的每周数据显示，美国银行贷款速度仍处于负值区域，自去年夏天以来持续疲软。”</blockquote></p><p></p><p> This persistent weakness, Panigirtzoglou writes, \"followed a temporary spike in bank lending during Q2 2020, immediately after the virus crisis erupted, and is reminiscent of the US bank lending trajectory after the Lehman crisis. After a temporary spike immediately after the Lehman crisis, driven by companies and consumers tapping bank credit lines, the pace of US bank lending had remained largely in negative territory up until the middle of 2011. Although it entered positive territory after 2011,<b>the pace of US bank lending had stayed significantly below pre -Lehman crisis levels, an important feature of the secular stagnation thesis</b>.\"</p><p><blockquote>Panigirtzoglou写道，这种持续的疲软“紧随病毒危机爆发后，Q2 2020年银行贷款暂时飙升，让人想起雷曼危机后美国银行贷款的轨迹。在雷曼危机后，在企业和消费者利用银行信贷额度的推动下，美国银行贷款的速度在2011年年中之前一直保持在负值区间。虽然2011年后进入正值区域，<b>美国银行放贷的速度远低于雷曼危机前的水平，这是长期停滞论的一个重要特征</b>.\"</blockquote></p><p> The JPM quant then concedes that it remains to be seen \"whether the protracted post Lehman period weakness in bank lending would be repeated in the current post virus cycle\" although what is likely to be the case \"is that the future trajectory for bank lending would be important in determining both the inflation and liquidity picture over the longer term.\"</p><p><blockquote>摩根大通量化分析师随后承认，“雷曼兄弟时期银行贷款的长期疲软是否会在当前的后病毒周期中重演”还有待观察，尽管很可能的情况是“银行贷款的未来轨迹”对于确定长期通胀和流动性状况非常重要。”</blockquote></p><p> And the JPM punchline:</p><p><blockquote>摩根大通的笑点是：</blockquote></p><p>   <i><b>\"A repeat of the post Lehman period protracted weakness in bank lending would cast doubt to the idea of a sustained inflation impulse over the coming years. It would also act as a drag for money supply and liquidity creation going forward, reducing a key driver of asset prices.\"</b></i>  Indeed, the next chart shows that money creation has been already normalizing from the torrid pace of the first half of 2020.</p><p><blockquote><i><b>“后雷曼时期银行贷款长期疲软的重演将使人们对未来几年持续通胀冲动的想法产生怀疑。这也将拖累未来的货币供应和流动性创造，减少资产价格的关键驱动因素。”</b></i>事实上，下图显示，货币创造已经从2020年上半年的火热步伐正常化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8fe0c1e42cddbb22952eef0f86744516\" tg-width=\"500\" tg-height=\"388\">Looking ahead, central bank tapering in 2022 - or whenever it arrives...</p><p><blockquote>展望未来，央行将在2022年或任何时候缩减规模...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/813bcc5ee519bda92783202065c85a28\" tg-width=\"500\" tg-height=\"387\">.. would likely induce further slowing in money creation over the coming years according to JPM, unless bank lending improves avoiding the protracted weakness of the post Lehman period.</p><p><blockquote>..摩根大通表示，除非银行贷款改善，避免后雷曼时期的长期疲软，否则未来几年货币创造可能会进一步放缓。</blockquote></p><p> JPMorgan's ominous concludes, \"<b>whether the protracted post Lehman period weakness in bank lending is repeated in the current post virus cycle will be critical in determining both the inflation and liquidity picture over the longer term. So far the trajectory for bank lending shows more similarities than differences to the post Lehman crisis period.\"</b></p><p><blockquote>摩根大通的不祥结论是，“<b>雷曼兄弟时期银行贷款的长期疲软是否会在当前的后病毒周期中重演，对于决定长期通胀和流动性状况至关重要。到目前为止，银行贷款的轨迹与雷曼危机后时期的相似之处多于差异。”</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/stunning-divergence-latest-bank-data-reveals-something-terminally-broken-financial-system\">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":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/stunning-divergence-latest-bank-data-reveals-something-terminally-broken-financial-system","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181769877","content_text":"There was a remarkable disclosure in thelatest JPMorgan earnings report: the largest US bank -an entity that historically has best been known for making loans to the broader population- reported that in Q1 its total deposits rose by awhopping 24% Y/Yandup 6%from Q4, to $2.278 trillion, while the total amount of loans issued by the bank was virtually flat sequentially at $1.011 trillion, anddown4%from a year ago.\nIn other words, for the first time in its history,JPM had 100% more deposits than loans, or inversely, the ratio of loans to deposits dropped below 50% for the third quarter in a row after plunging in the aftermath of the covid pandemic:\nAn even more stunning divergence between total deposits and loans, emerges at Bank of America where deposits similarly hit a new all time high of $1.88 trillion, even as the bank's loans have continued to shrink at an alarming, deleveraging (anddeflationary) pace and are now at $911 billion,below their level during the great financial crisis:in other words, there has been 12 years with zero loan growth at Bank of America!\nIt's not any better at either Citigroup...\n... or even Wells Fargo (which while having been limited by the Fed in how much loans it can issue, apparently has had no limit on how many deposits it can collect):\nSummarizing the above data, we get the following picture breaking down total loans by Big-4 bank:\nAnd total deposits.\nFinally, aggregating the data across the big 4 banks shows something striking: there has been no loan growth since the global financial crisis, while total deposits have doubled!\nThere are two major implications one should draw from the collapsing loan-to-deposit ratio. The first, more superficial one is that this ratio is a closely watched metric that measures how much lending a bank is doing when compared to its capacity to lend.\nThe second, and far more profound implication, is arguably the most fundamental question in modern fractional reserve banking: what comes first, loans or deposits, in other words do private, commercial banks create the money in circulation (by first lending it out) or is the central bank responsible for money creation?\nOne thing that is now beyond debate:there are now far more deposits than there are loans in the US banking system.\nThis is a problem because most conventional monetarists will argue that loans always come first, and only then do banks receive deposits.\nIt gets worse: as everyone now knows, we live in an MMT world where the Fed and Treasury have merged and where one basically monetizes what the other has to sell. And since the rainbows and unicorns world of MMT says that there is nothing to worry about from such debt monetization, even respected economists have been swept into this absolute idiocy and are urging the US to issue as much debt as it possibly can (with the Biden administration glad to oblige).\nThere is just one problem: as of this moment, the core tenet of MMT is no longer applicable. As a reminder, according to MMTloans create deposits not the other way around,and this socialist crackpot theory further claims that Reserve balances have nothing to do with this – they are part of the banking system that ensure financial stability. Don't believe us? Watch the following clip from one of the priests of MMT, Warrn Mosler who explains how \"loans create deposits.\"Only... clearly that's no longer the case, and theempirical data shown above makes patently obvious that the core, anchor theory of MMT on which all its other laughable theories are built is false,with huge consequences for a world that has thrown its future into a world prescribed by said crackpot theory.\nThe recent loan and deposit data also means that the conventional process of deposit creation via loans is terminally broken.\nIndeed, that's precisely the case with the missing link being - drumroll - the Fed,as we explained all the way back, in 2014. Here is the punchline of what we said then, when we did a similar analysis observing what was already a record amount of excess deposits over loans:\n\n ... how does the record mismatch between deposits and loans look like? Well, for the Big 4 US banks, JPM, Wells, BofA and Citi it looks as follows.\n\nWhat the above chart simply shows is the breakdown in the Excess Deposit over Loan series, which is shown in the chart below, which tracks the historical change in commercial bank loans and deposits. What is immediately obvious is that while loans and deposits moved hand in hand for most of history, starting with the collapse of Lehman loan creation has been virtually non-existent (total loans are now at levels seen at the time of Lehman's collapse) while deposits have risen to just about $10 trillion.It is here that the Fed's excess reserves have gone - the delta between the two is almost precisely the total amount ofreserves injectedby the Fed since the Lehman crisis.\nSo what does all of this mean? In a nutshell, with the Fed now tapering QE and deposit formation slowing, banks will have no choice but to issue loans to offset the lack of outside money injection by the Fed. In other words, while bank \"deposits\" have already experienced the benefit of \"future inflation\", and have manifested it in the stock market, it is now the turn of the matching asset to catch up. Which also means that while \"deposit\" growth (i.e., parked reserves) in the future will slow to a trickle, banks will have no choice but to flood the country with $2.5 trillion in loans, or a third of the currently outstanding loans,just to catch up to the head start provided by the Fed!\nIt is this loan creation that will jump start inside money and the flow through to the economy, resulting in the long-overdue growth.It is also this loan creation that means banks will no longer speculate as prop traders with the excess liquidity but go back to their roots as lenders.Most importantly, once banks launch this wholesale lending effort, it is then and only then that the true pernicious inflation from what the Fed has done in the past 5 years will finally rear its ugly head.\nIt will also come as no surprise to anyone, that updating the chart we first showed in 2014 correctly explains today's reality, something which MMT is completely incapable of doing: as shown below the excess deposits over loans is entirely driven by the trillions in reserves pumped by the Fed!\n\nThe above also explains why even as the Fed has pumped trillions in reserves into banks, which by transformation have ended up as deposits on bank balance sheets,the velocity of M2 money has plunged to an all time low(and will soon drop below the fractional reserve systemsingularity of 1.0x), asloan demand is nowhere near enough to offset the Fed's forced deposit creation which incidentally ends upnot in the economy but in capital markets,resulting in broad deflation offset by asset price hyperinflation.\n\nOne final reason why this data is absolutely critical: in a world where the dominant daily argument is whether the US is facing deflation or inflation, and where many have become convinced that we are facing a surge in higher prices, continued loan destruction is about the most deflationary thing possible. But don't take our word for it - here is an excerpt from the latest \"Flows and Liquidity\" report from JPMorgan strategist Nick Panigirtzoglou titled \"The challenge from weak bank lending\" in which he confirms all of the above observations, and writes that \"a common feature of this week's US bank earnings reports has been the weakness in loan growth. Indeed, weekly data from the Fed's H8 release shows that the pace of US bank lending remains in negative territory, exhibiting persistent weakness since last summer\"\nThis persistent weakness, Panigirtzoglou writes, \"followed a temporary spike in bank lending during Q2 2020, immediately after the virus crisis erupted, and is reminiscent of the US bank lending trajectory after the Lehman crisis. After a temporary spike immediately after the Lehman crisis, driven by companies and consumers tapping bank credit lines, the pace of US bank lending had remained largely in negative territory up until the middle of 2011. Although it entered positive territory after 2011,the pace of US bank lending had stayed significantly below pre -Lehman crisis levels, an important feature of the secular stagnation thesis.\"\nThe JPM quant then concedes that it remains to be seen \"whether the protracted post Lehman period weakness in bank lending would be repeated in the current post virus cycle\" although what is likely to be the case \"is that the future trajectory for bank lending would be important in determining both the inflation and liquidity picture over the longer term.\"\nAnd the JPM punchline:\n\n\"A repeat of the post Lehman period protracted weakness in bank lending would cast doubt to the idea of a sustained inflation impulse over the coming years. It would also act as a drag for money supply and liquidity creation going forward, reducing a key driver of asset prices.\"\n\nIndeed, the next chart shows that money creation has been already normalizing from the torrid pace of the first half of 2020.\nLooking ahead, central bank tapering in 2022 - or whenever it arrives...\n.. would likely induce further slowing in money creation over the coming years according to JPM, unless bank lending improves avoiding the protracted weakness of the post Lehman period.\nJPMorgan's ominous concludes, \"whether the protracted post Lehman period weakness in bank lending is repeated in the current post virus cycle will be critical in determining both the inflation and liquidity picture over the longer term. So far the trajectory for bank lending shows more similarities than differences to the post Lehman crisis period.\"","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2772,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379907959,"gmtCreate":1618648026371,"gmtModify":1634291553007,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/379907959","repostId":"1165321503","repostType":4,"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347935389,"gmtCreate":1618454945541,"gmtModify":1634292823063,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/347935389","repostId":"1150469902","repostType":4,"isVote":1,"tweetType":1,"viewCount":541,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344068221,"gmtCreate":1618360871963,"gmtModify":1634293495985,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/344068221","repostId":"1182935377","repostType":4,"repost":{"id":"1182935377","kind":"news","pubTimestamp":1618329478,"share":"https://www.laohu8.com/m/news/1182935377?lang=zh_CN&edition=full","pubTime":"2021-04-13 23:57","market":"us","language":"en","title":"KKR Sparks Bidding War For Toshiba Amid \"Civil War\" Among Tech Giant's Board Members<blockquote>科技巨头董事会成员之间的“内战”中，KKR引发了对东芝的竞购战</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182935377","media":"zerohedge","summary":"A week after Toshiba ADRs soared 22%following a Nikkei report that private equity giant CVC Capital ","content":"<p>A week after Toshiba ADRs soared 22%following a Nikkei report that private equity giant CVC Capital Partners has offered to acquire Toshiba through a tender offer that is expected to be worth more than $20 billion,The Financial Timesreports that that CVC<b>rival KKR is planning to outbid</b>as \"civil war\" broke out among<b>board members of the Japanese conglomerate, reportedly preparing to launch a coup to oust the chief executive</b>.</p><p><blockquote>日经新闻报道称，私募股权巨头CVC Capital Partners已提出通过要约收购东芝，预计价值超过200亿美元，东芝ADR飙升22%一周后，《金融时报》报道称，CVC<b>竞争对手KKR计划出价高于</b>随着“内战”的爆发<b>据报道，这家日本企业集团的董事会成员正准备发动政变罢免首席执行官</b>.</blockquote></p><p> At least two of Toshiba’s biggest shareholders have called upon the Toshiba board to seriously consider any bids from private equity-led consortiums, which would be likely to include a significant Japanese presence to satisfy regulatory sensitivity over a company deeply involved in the nuclear and defence industries.</p><p><blockquote>东芝至少有两名最大股东呼吁东芝董事会认真考虑私募股权主导的财团的任何出价，其中可能包括大量日本人的参与，以满足监管机构对一家深耕核能和国防工业的公司的敏感性。</blockquote></p><p> The headline pushed Toshiba ADRs up another 10%...</p><p><blockquote>这一头条新闻推动东芝ADR又上涨了10%……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4781476f0d7f95f98fbe979f05cf283f\" tg-width=\"500\" tg-height=\"270\">A Toshiba board meeting on Wednesday is expected to<b>debate a proposal from one of its members that Nobuaki Kurumatani resign immediately</b>as head of a company that he has led since it emerged from financial crisis in 2018</p><p><blockquote>东芝周三的董事会预计将<b>辩论其中一名成员提出的要求Nobuaki Kurumatani立即辞职的提案</b>作为他自2018年摆脱金融危机以来一直领导的公司的负责人</blockquote></p><p> The FT reportsthat people close to the company, whose largest investors include some of the region’s biggest activist funds, said that<b>Toshiba’s senior management had been thrown into “civil war” by the emergence of a preliminary buyout approach last week from the European private equity group CVC</b>- a company for which Kurumatani previously worked as head of Japan’s operations.</p><p><blockquote>据英国《金融时报》报道，接近该公司的人士表示，该公司最大的投资者包括该地区一些最大的激进基金<b>上周，欧洲私募股权集团CVC提出了初步收购方案，东芝的高级管理层陷入了“内战”</b>——Kurumatani曾在一家公司担任日本业务负责人。</blockquote></p><p> This would be<b>Japan's largest ever LBO.</b></p><p><blockquote>这将是<b>日本有史以来最大的杠杆收购。</b></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>KKR Sparks Bidding War For Toshiba Amid \"Civil War\" Among Tech Giant's Board Members<blockquote>科技巨头董事会成员之间的“内战”中，KKR引发了对东芝的竞购战</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\">\nKKR Sparks Bidding War For Toshiba Amid \"Civil War\" Among Tech Giant's Board Members<blockquote>科技巨头董事会成员之间的“内战”中，KKR引发了对东芝的竞购战</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-13 23:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A week after Toshiba ADRs soared 22%following a Nikkei report that private equity giant CVC Capital Partners has offered to acquire Toshiba through a tender offer that is expected to be worth more than $20 billion,The Financial Timesreports that that CVC<b>rival KKR is planning to outbid</b>as \"civil war\" broke out among<b>board members of the Japanese conglomerate, reportedly preparing to launch a coup to oust the chief executive</b>.</p><p><blockquote>日经新闻报道称，私募股权巨头CVC Capital Partners已提出通过要约收购东芝，预计价值超过200亿美元，东芝ADR飙升22%一周后，《金融时报》报道称，CVC<b>竞争对手KKR计划出价高于</b>随着“内战”的爆发<b>据报道，这家日本企业集团的董事会成员正准备发动政变罢免首席执行官</b>.</blockquote></p><p> At least two of Toshiba’s biggest shareholders have called upon the Toshiba board to seriously consider any bids from private equity-led consortiums, which would be likely to include a significant Japanese presence to satisfy regulatory sensitivity over a company deeply involved in the nuclear and defence industries.</p><p><blockquote>东芝至少有两名最大股东呼吁东芝董事会认真考虑私募股权主导的财团的任何出价，其中可能包括大量日本人的参与，以满足监管机构对一家深耕核能和国防工业的公司的敏感性。</blockquote></p><p> The headline pushed Toshiba ADRs up another 10%...</p><p><blockquote>这一头条新闻推动东芝ADR又上涨了10%……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4781476f0d7f95f98fbe979f05cf283f\" tg-width=\"500\" tg-height=\"270\">A Toshiba board meeting on Wednesday is expected to<b>debate a proposal from one of its members that Nobuaki Kurumatani resign immediately</b>as head of a company that he has led since it emerged from financial crisis in 2018</p><p><blockquote>东芝周三的董事会预计将<b>辩论其中一名成员提出的要求Nobuaki Kurumatani立即辞职的提案</b>作为他自2018年摆脱金融危机以来一直领导的公司的负责人</blockquote></p><p> The FT reportsthat people close to the company, whose largest investors include some of the region’s biggest activist funds, said that<b>Toshiba’s senior management had been thrown into “civil war” by the emergence of a preliminary buyout approach last week from the European private equity group CVC</b>- a company for which Kurumatani previously worked as head of Japan’s operations.</p><p><blockquote>据英国《金融时报》报道，接近该公司的人士表示，该公司最大的投资者包括该地区一些最大的激进基金<b>上周，欧洲私募股权集团CVC提出了初步收购方案，东芝的高级管理层陷入了“内战”</b>——Kurumatani曾在一家公司担任日本业务负责人。</blockquote></p><p> This would be<b>Japan's largest ever LBO.</b></p><p><blockquote>这将是<b>日本有史以来最大的杠杆收购。</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/kkr-sparks-bidding-war-toshiba-amid-civil-war-among-tech-giants-board-members\">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":{},"source_url":"https://www.zerohedge.com/markets/kkr-sparks-bidding-war-toshiba-amid-civil-war-among-tech-giants-board-members","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182935377","content_text":"A week after Toshiba ADRs soared 22%following a Nikkei report that private equity giant CVC Capital Partners has offered to acquire Toshiba through a tender offer that is expected to be worth more than $20 billion,The Financial Timesreports that that CVCrival KKR is planning to outbidas \"civil war\" broke out amongboard members of the Japanese conglomerate, reportedly preparing to launch a coup to oust the chief executive.\nAt least two of Toshiba’s biggest shareholders have called upon the Toshiba board to seriously consider any bids from private equity-led consortiums, which would be likely to include a significant Japanese presence to satisfy regulatory sensitivity over a company deeply involved in the nuclear and defence industries.\nThe headline pushed Toshiba ADRs up another 10%...\nA Toshiba board meeting on Wednesday is expected todebate a proposal from one of its members that Nobuaki Kurumatani resign immediatelyas head of a company that he has led since it emerged from financial crisis in 2018\nThe FT reportsthat people close to the company, whose largest investors include some of the region’s biggest activist funds, said thatToshiba’s senior management had been thrown into “civil war” by the emergence of a preliminary buyout approach last week from the European private equity group CVC- a company for which Kurumatani previously worked as head of Japan’s operations.\nThis would beJapan's largest ever LBO.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345962865,"gmtCreate":1618273219957,"gmtModify":1634294052039,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/345962865","repostId":"1129466392","repostType":4,"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342816751,"gmtCreate":1618197619873,"gmtModify":1634294479659,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/342816751","repostId":"1137529737","repostType":4,"repost":{"id":"1137529737","kind":"news","pubTimestamp":1618184239,"share":"https://www.laohu8.com/m/news/1137529737?lang=zh_CN&edition=full","pubTime":"2021-04-12 07:37","market":"us","language":"en","title":"JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week<blockquote>摩根大通、英伟达、高盛、Coinbase等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137529737","media":"Barrons","summary":"First-quarter earnings season kicks off this week, beginning as always with results from several of ","content":"<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed&nbsp;by Bank of&nbsp;America and Citigroup on Thursday and Morgan Stanley on Friday.</p><p><blockquote>第一季度财报季将于本周拉开帷幕，一如既往地以美国几家最大银行的业绩开始。高盛集团、摩根大通和富国银行周三发布报告，美国银行和花旗集团周四发布报告，摩根士丹利周五发布报告。</blockquote></p><p>Other notable companies reporting this week include industrial&nbsp;supplier&nbsp;Fastenalon Tuesday.Delta Air Lines,PepsiCo,and&nbsp;UnitedHealth Group&nbsp;publish results on Thursday. And&nbsp;Kansas City Southern&nbsp;reports on Friday.&nbsp; A total of 22&nbsp;S&amp;P 500&nbsp;companies report this week, followed by 64 next week.</p><p><blockquote>本周发布报告的其他著名公司包括工业供应商Fastenalon Tuesday。达美航空、百事可乐和联合健康集团周四公布业绩。堪萨斯城南方周五发布报告。本周共有22家标准普尔500指数公司发布报告，下周将有64家公司发布报告。</blockquote></p><p><img src=\"https://static.tigerbbs.com/ac3c413681d3a9e134223c4d1a02d883\" tg-width=\"1410\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.</p><p><blockquote>对于经济数据来说，这也是忙碌的一周。周二，美国劳工统计局公布3月份消费者价格指数，全国独立企业联合会发布3月份小企业乐观指数。周四，人口普查局将公布3月份零售销售数据。周五，密歇根大学发布了四月份的消费者信心指数。</blockquote></p><p>Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.</p><p><blockquote>本周公布的房地产市场数据包括周四公布的全国住宅建筑商协会NAHB/富国银行4月份住房市场指数和周五公布的人口普查局3月份新住宅建设数据。</blockquote></p><p><b>Monday 4/12</b></p><p><blockquote><b>星期一4/12</b></blockquote></p><p>Nvidia&nbsp;hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.</p><p><blockquote>英伟达在GPU技术会议的同时举办了2021年投资者日。英伟达首席执行官黄仁勋将发表主题演讲。</blockquote></p><p><b>Tuesday 4/13</b></p><p><blockquote><b>星期二4/13</b></blockquote></p><p>Fastenal reports quarterly results.</p><p><blockquote>Fastenal报告季度业绩。</blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.</p><p><blockquote><b>劳工局</b>统计局报告了三月份的消费者价格指数。经济学家预测月度增长0.4%，与2月份数据一致。剔除波动较大的食品和能源价格的核心CPI预计将上涨0.2%，2月份小幅上涨0.1%。</blockquote></p><p><b>The National Federation</b>&nbsp;of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.</p><p><blockquote><b>全国联合会</b>独立企业发布三月份小企业乐观指数。普遍估计为98，高于2月份的95.8。</blockquote></p><p><b>Wednesday 4/14</b></p><p><blockquote><b>星期三4/14</b></blockquote></p><p><b>Earnings season begins</b>&nbsp;in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.</p><p><blockquote><b>财报季开始</b>一些最大的货币中心和投资银行认真报告。摩根大通、富国银行、高盛集团盘前发布一季度业绩。</blockquote></p><p>First Republic Bankreleases earnings.</p><p><blockquote>第一共和银行发布收益。</blockquote></p><p><b>Coinbase Global</b>&nbsp;is set to&nbsp;make its Wall Street debut&nbsp;on Wednesday through a direct listing of its shares on the Nasdaq.</p><p><blockquote><b>比特币基地全球</b>该公司将于周三通过在纳斯达克直接上市的方式首次亮相华尔街。</blockquote></p><p><b>The BLS reports</b>&nbsp;export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.</p><p><blockquote><b>劳工统计局报告</b>3月进出口价格数据。预计出口价格环比上涨1%，而进口价格预计上涨0.8%。相比之下，2月份分别上涨1.6%和1.3%。</blockquote></p><p><b>The Federal Reserve</b>&nbsp;releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.</p><p><blockquote><b>美联储</b>今年发布了八次褐皮书中的第二次。褐皮书从12个美联储区收集了有关当前经济状况的轶事信息。</blockquote></p><p><b>Thursday 4/15</b></p><p><blockquote><b>星期四4/15</b></blockquote></p><p>Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.</p><p><blockquote>美国银行、贝莱德、嘉信理财、花旗集团、达美航空、百事可乐、PPG Industries、Truist Financial、美国。合众银行和联合健康集团报告季度业绩。</blockquote></p><p><b>The National Association</b>&nbsp;of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.</p><p><blockquote><b>全国协会</b>房屋建筑商协会发布了4月份NAHB/富国银行住房市场指数。经济学家预测为84.5，高于3月份的数据。任何高于50的读数都表明房屋建筑商看好未来六个月的房地产市场。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.</p><p><blockquote><b>人口普查局</b>报告3月份零售销售数据。看涨期权普遍认为消费者支出继2月份下降3%后，环比将增长1.3%。</blockquote></p><p><b>Friday 4/16</b></p><p><blockquote><b>星期五4/16</b></blockquote></p><p>Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and&nbsp;State Street&nbsp;hold conference calls to discuss earnings.</p><p><blockquote>纽约梅隆银行、公民金融集团、堪萨斯南方银行、摩根士丹利、PNC金融服务集团和道富银行在评级召开会议讨论收益。</blockquote></p><p><b>The University of Michigan</b>&nbsp;releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.</p><p><blockquote><b>密歇根大学</b>发布四月份消费者信心指数。预期读数为88。3月份的84.9是一年前以来的最高水平。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.</p><p><blockquote><b>人口普查局</b>报告3月份新住宅建设数据。经济学家预测，经季节调整后的新屋开工年率为161万套，环比增长13%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week<blockquote>摩根大通、英伟达、高盛、Coinbase等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week<blockquote>摩根大通、英伟达、高盛、Coinbase等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-12 07:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed&nbsp;by Bank of&nbsp;America and Citigroup on Thursday and Morgan Stanley on Friday.</p><p><blockquote>第一季度财报季将于本周拉开帷幕，一如既往地以美国几家最大银行的业绩开始。高盛集团、摩根大通和富国银行周三发布报告，美国银行和花旗集团周四发布报告，摩根士丹利周五发布报告。</blockquote></p><p>Other notable companies reporting this week include industrial&nbsp;supplier&nbsp;Fastenalon Tuesday.Delta Air Lines,PepsiCo,and&nbsp;UnitedHealth Group&nbsp;publish results on Thursday. And&nbsp;Kansas City Southern&nbsp;reports on Friday.&nbsp; A total of 22&nbsp;S&amp;P 500&nbsp;companies report this week, followed by 64 next week.</p><p><blockquote>本周发布报告的其他著名公司包括工业供应商Fastenalon Tuesday。达美航空、百事可乐和联合健康集团周四公布业绩。堪萨斯城南方周五发布报告。本周共有22家标准普尔500指数公司发布报告，下周将有64家公司发布报告。</blockquote></p><p><img src=\"https://static.tigerbbs.com/ac3c413681d3a9e134223c4d1a02d883\" tg-width=\"1410\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.</p><p><blockquote>对于经济数据来说，这也是忙碌的一周。周二，美国劳工统计局公布3月份消费者价格指数，全国独立企业联合会发布3月份小企业乐观指数。周四，人口普查局将公布3月份零售销售数据。周五，密歇根大学发布了四月份的消费者信心指数。</blockquote></p><p>Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.</p><p><blockquote>本周公布的房地产市场数据包括周四公布的全国住宅建筑商协会NAHB/富国银行4月份住房市场指数和周五公布的人口普查局3月份新住宅建设数据。</blockquote></p><p><b>Monday 4/12</b></p><p><blockquote><b>星期一4/12</b></blockquote></p><p>Nvidia&nbsp;hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.</p><p><blockquote>英伟达在GPU技术会议的同时举办了2021年投资者日。英伟达首席执行官黄仁勋将发表主题演讲。</blockquote></p><p><b>Tuesday 4/13</b></p><p><blockquote><b>星期二4/13</b></blockquote></p><p>Fastenal reports quarterly results.</p><p><blockquote>Fastenal报告季度业绩。</blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.</p><p><blockquote><b>劳工局</b>统计局报告了三月份的消费者价格指数。经济学家预测月度增长0.4%，与2月份数据一致。剔除波动较大的食品和能源价格的核心CPI预计将上涨0.2%，2月份小幅上涨0.1%。</blockquote></p><p><b>The National Federation</b>&nbsp;of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.</p><p><blockquote><b>全国联合会</b>独立企业发布三月份小企业乐观指数。普遍估计为98，高于2月份的95.8。</blockquote></p><p><b>Wednesday 4/14</b></p><p><blockquote><b>星期三4/14</b></blockquote></p><p><b>Earnings season begins</b>&nbsp;in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.</p><p><blockquote><b>财报季开始</b>一些最大的货币中心和投资银行认真报告。摩根大通、富国银行、高盛集团盘前发布一季度业绩。</blockquote></p><p>First Republic Bankreleases earnings.</p><p><blockquote>第一共和银行发布收益。</blockquote></p><p><b>Coinbase Global</b>&nbsp;is set to&nbsp;make its Wall Street debut&nbsp;on Wednesday through a direct listing of its shares on the Nasdaq.</p><p><blockquote><b>比特币基地全球</b>该公司将于周三通过在纳斯达克直接上市的方式首次亮相华尔街。</blockquote></p><p><b>The BLS reports</b>&nbsp;export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.</p><p><blockquote><b>劳工统计局报告</b>3月进出口价格数据。预计出口价格环比上涨1%，而进口价格预计上涨0.8%。相比之下，2月份分别上涨1.6%和1.3%。</blockquote></p><p><b>The Federal Reserve</b>&nbsp;releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.</p><p><blockquote><b>美联储</b>今年发布了八次褐皮书中的第二次。褐皮书从12个美联储区收集了有关当前经济状况的轶事信息。</blockquote></p><p><b>Thursday 4/15</b></p><p><blockquote><b>星期四4/15</b></blockquote></p><p>Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.</p><p><blockquote>美国银行、贝莱德、嘉信理财、花旗集团、达美航空、百事可乐、PPG Industries、Truist Financial、美国。合众银行和联合健康集团报告季度业绩。</blockquote></p><p><b>The National Association</b>&nbsp;of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.</p><p><blockquote><b>全国协会</b>房屋建筑商协会发布了4月份NAHB/富国银行住房市场指数。经济学家预测为84.5，高于3月份的数据。任何高于50的读数都表明房屋建筑商看好未来六个月的房地产市场。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.</p><p><blockquote><b>人口普查局</b>报告3月份零售销售数据。看涨期权普遍认为消费者支出继2月份下降3%后，环比将增长1.3%。</blockquote></p><p><b>Friday 4/16</b></p><p><blockquote><b>星期五4/16</b></blockquote></p><p>Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and&nbsp;State Street&nbsp;hold conference calls to discuss earnings.</p><p><blockquote>纽约梅隆银行、公民金融集团、堪萨斯南方银行、摩根士丹利、PNC金融服务集团和道富银行在评级召开会议讨论收益。</blockquote></p><p><b>The University of Michigan</b>&nbsp;releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.</p><p><blockquote><b>密歇根大学</b>发布四月份消费者信心指数。预期读数为88。3月份的84.9是一年前以来的最高水平。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.</p><p><blockquote><b>人口普查局</b>报告3月份新住宅建设数据。经济学家预测，经季节调整后的新屋开工年率为161万套，环比增长13%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MS":"摩根士丹利",".SPX":"S&P 500 Index","GS":"高盛",".DJI":"道琼斯","JPM":"摩根大通","WFC":"富国银行","NVDA":"英伟达",".IXIC":"NASDAQ Composite","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137529737","content_text":"First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed by Bank of America and Citigroup on Thursday and Morgan Stanley on Friday.Other notable companies reporting this week include industrial supplier Fastenalon Tuesday.Delta Air Lines,PepsiCo,and UnitedHealth Group publish results on Thursday. And Kansas City Southern reports on Friday.  A total of 22 S&P 500 companies report this week, followed by 64 next week.It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.Monday 4/12Nvidia hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.Tuesday 4/13Fastenal reports quarterly results.The Bureau of Labor Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.The National Federation of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.Wednesday 4/14Earnings season begins in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.First Republic Bankreleases earnings.Coinbase Global is set to make its Wall Street debut on Wednesday through a direct listing of its shares on the Nasdaq.The BLS reports export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.The Federal Reserve releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.Thursday 4/15Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.The Census Bureau reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.Friday 4/16Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and State Street hold conference calls to discuss earnings.The University of Michigan releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.The Census Bureau reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.","news_type":1,"symbols_score_info":{".SPX":0.9,"MS":0.9,"JPM":0.9,"WFC":0.9,"COIN":0.9,".IXIC":0.9,"GS":0.9,"NVDA":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":368,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346184827,"gmtCreate":1618014579069,"gmtModify":1634295257047,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/346184827","repostId":"2126333180","repostType":4,"isVote":1,"tweetType":1,"viewCount":786,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348524040,"gmtCreate":1617943986880,"gmtModify":1634295600555,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348524040","repostId":"1166602213","repostType":4,"repost":{"id":"1166602213","kind":"news","pubTimestamp":1617941256,"share":"https://www.laohu8.com/m/news/1166602213?lang=zh_CN&edition=full","pubTime":"2021-04-09 12:07","market":"us","language":"en","title":"America's economy could be heading for a golden era of growth. But risks remain<blockquote>美国经济可能正在走向增长的黄金时代。但风险依然存在</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166602213","media":"cnn","summary":"London (CNN Business) America's economy could be heading for a golden era of growth. But higher pric","content":"<p>London (CNN Business)&nbsp;America's economy could be heading for a golden era of growth. But higher prices and the coronavirus pandemic still present risks.</p><p><blockquote>伦敦（CNN商业）美国经济可能正走向一个增长的黄金时代。但价格上涨和冠状病毒大流行仍然存在风险。</blockquote></p><p>What's happening: \"It is possible that we will have a Goldilocks moment — fast and sustained growth, inflation that moves up gently (but not too much) and interest rates that rise (but not too much),\" JPMorgan Chase CEO Jamie Dimon said in his widely-read annual letter to shareholders this week.</p><p><blockquote>正在发生的事情：摩根大通首席执行官杰米·戴蒙(Jamie Dimon)表示：“我们可能会迎来一个金发姑娘时刻——快速而持续的增长、通胀温和上升（但不会太多）以及利率上升（但不会太多）。”本周他致股东的年度信被广泛阅读。</blockquote></p><p>Dimon's optimism comes after the International Monetary Fund said that President Joe Biden's $1.9 trillion stimulus package will boost the US economy to 6.4% growth this year. That would be the fastest annual growth rate in the United States since 1984 under President Ronald Reagan.</p><p><blockquote>戴蒙的乐观情绪是在国际货币基金组织表示总统乔·拜登1.9万亿美元的刺激计划将推动美国经济今年增长6.4%之后做出的。这将是自1984年罗纳德·里根总统执政以来美国最快的年增长率。</blockquote></p><p>Economic data continues to support rosy predictions.</p><p><blockquote>经济数据继续支持乐观的预测。</blockquote></p><p>This week, the Institute for Supply Management published its monthly report on the US services sector, which accounts for 88% of America's gross domestic product. The group's services index for March jumped to 63.7, the highest level ever recorded.</p><p><blockquote>本周，供应管理协会发布了美国服务业月度报告，服务业占美国国内生产总值的88%。该集团3月份的服务指数跃升至63.7，为有记录以来的最高水平。</blockquote></p><p>\"There is clearly a big surge in activity underway,\" said Paul Ashworth, chief US economist at Capital Economics.</p><p><blockquote>凯投宏观(Capital Economics)首席美国经济学家保罗·阿什沃斯(Paul Ashworth)表示：“活动显然正在大幅激增。”</blockquote></p><p>This data has helped keep US stocks near record highs. But an undercurrent of anxiety remains. CNN Business' Fear &amp; Greed Index shows that market sentiment is in \"greedy\" territory, up from a neutral reading one week ago. But investors aren't throwing caution to the wind.</p><p><blockquote>这一数据帮助美股保持在历史高位附近。但焦虑的暗流依然存在。CNN Business的恐惧与贪婪指数显示，市场情绪处于“贪婪”区域，高于一周前的中性读数。但投资者并没有把谨慎抛在脑后。</blockquote></p><p>In a recent note to clients, Tobias Levkovich, Citigroup's chief U.S. equity strategist, warned that the fear of missing out appears to be dominating.</p><p><blockquote>花旗集团首席美国股票策略师托拜厄斯·列夫科维奇(Tobias Levkovich)在最近给客户的一份报告中警告说，对错过机会的恐惧似乎占主导地位。</blockquote></p><p>\"There's a 1999 perspective being noted with pressure for fund managers to participate in rising share prices even if there's also a recognition that it could end badly,\" Levkovich wrote, referring to the dot-com bubble that popped at the turn of the millennium.</p><p><blockquote>列夫科维奇在谈到世纪之交破裂的互联网泡沫时写道：“人们注意到，1999年的前景给基金经理带来了参与股价上涨的压力，即使人们也认识到这可能会以糟糕的结局告终。”</blockquote></p><p>He worries that investors are overlooking the risk that the Federal Reserve could change course and take some stimulus measures off the table, as well as the impact of \"plausible tax increases being proposed by the Biden administration.\"</p><p><blockquote>他担心投资者忽视了美联储可能改变方针并取消一些刺激措施的风险，以及“拜登政府提出的看似合理的增税措施”的影响。</blockquote></p><p>\"Indeed, all developments are perceived as positive news,\" Levkovich said.</p><p><blockquote>“事实上，所有事态发展都被视为积极消息，”列夫科维奇说。</blockquote></p><p>He's not the only one suggesting caution. On Wednesday, Dr. Anthony Fauci, the top US infectious disease expert, told CNN's Anderson Cooper that the number of new Covid-19 cases has plateaued at a \"disturbingly high level,\" and that the country could face yet another spike in infections.</p><p><blockquote>他不是唯一一个建议谨慎的人。周三，美国顶级传染病专家安东尼·福奇博士告诉美国有线电视新闻网(CNN)的安德森·库珀(Anderson Cooper)，新的Covid-19病例数量已稳定在“令人不安的高水平”，该国可能面临另一次感染高峰。</blockquote></p><p>\"It's almost a race between getting people vaccinated and this surge that seems to want to increase,\" Fauci said.</p><p><blockquote>福奇说：“这几乎是一场让人们接种疫苗和这种似乎想要增加的激增之间的竞赛。”</blockquote></p><p>The United States is vaccinating people quickly, with just over 33% of the population, or more than 109 million people, having received at least one dose. Yet the pace needs to increase now that that the virus variant first identified in the United Kingdom — known to be more transmissible and believed to be more deadly — is the country's most common strain.</p><p><blockquote>美国正在迅速为人们接种疫苗，超过33%的人口，即超过1.09亿人，至少接种了一剂疫苗。然而，现在需要加快步伐，因为在英国首次发现的病毒变种——已知传播性更强，据信更致命——是该国最常见的毒株。</blockquote></p><p><b>That's one big stock sale</b></p><p><blockquote><b>这是一次大的股票销售</b></blockquote></p><p>Tencent's biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, creating a massive war chest to invest in other ventures.</p><p><blockquote>腾讯控股最大股东出售了这家中国社交媒体和游戏巨头价值147亿美元的股票，创造了大量资金来投资其他企业。</blockquote></p><p>The latest: Prosus (PROSY), a spin-off by South African media and internet investment firm Naspers, sold a 2% stake in Tencent, the Chinese tech giant said in a Hong Kong Stock Exchange filing on Thursday.</p><p><blockquote>最新消息：南非媒体和互联网投资公司Naspers分拆出来的Prosus(PROSY)出售了腾讯控股2%的股份，这家中国科技巨头周四在港交所提交的文件中表示。</blockquote></p><p>Tencent (TCEHY), which reported a strong financial year during the pandemic, is by far Nasper's most successful investment, my CNN Business colleague Laura He reports.</p><p><blockquote>据我的CNN商业同事Laura He报道，腾讯控股(TCEHY)在疫情期间报告了强劲的财年，是迄今为止Nasper最成功的投资。</blockquote></p><p>The deal is the biggest block trade ever, according to data provider Refinitiv. Block trades are typically arranged directly between big institutional investors rather than on public stock exchanges.</p><p><blockquote>据数据提供商Refinitiv称，这笔交易是有史以来最大的大宗交易。大宗交易通常直接在大型机构投资者之间安排，而不是在公共证券交易所。</blockquote></p><p>Investor insight: Tencent's stock dropped 1.5% on Thursday in Hong Kong after the news. It has gained about 80% since Prosus was listed on the Amsterdam stock exchange in 2019.</p><p><blockquote>投资者洞察：消息传出后，腾讯控股股价周四在港下跌1.5%。自2019年Prosus在阿姆斯特丹证券交易所上市以来，该股已上涨约80%。</blockquote></p><p>After completion of the deal, Prosus will remain Tencent's single largest shareholder, with a 28.9% stake. But it will lose its controlling shareholder status, which under Hong Kong listing rules is granted to investors who hold at least 30% of voting rights.</p><p><blockquote>交易完成后，Prosus仍将是腾讯控股的单一最大股东，持有28.9%的股份。但它将失去控股股东地位，根据香港上市规则，控股股东地位授予持有至少30%投票权的投资者。</blockquote></p><p>What's next: The question now is what Prosus will do with all its cash. So far, the company isn't providing many details; in a statement, it said it plans to \"use the proceeds of the sale to increase its financial flexibility to invest in growth, plus for general corporate purposes.\"</p><p><blockquote>下一步：现在的问题是Prosus将如何处理其所有现金。到目前为止，该公司没有提供太多细节；该公司在一份声明中表示，计划“利用出售所得来提高其财务灵活性，以投资于增长以及一般企业用途。”</blockquote></p><p><b>Investing small has been a winning strategy</b></p><p><blockquote><b>小额投资一直是一种制胜策略</b></blockquote></p><p>The S&amp;P 500 and the Dow keep hitting record highs as blue-chip companies like Caterpillar, Chevron and GM soar.</p><p><blockquote>随着卡特彼勒、雪佛龙和通用汽车等蓝筹公司的飙升，标普500和道琼斯指数不断创下历史新高。</blockquote></p><p>But investors shouldn't ignore smaller stocks, my CNN Business colleague Paul R. La Monica reports.</p><p><blockquote>但我的CNN商业同事保罗·R·拉莫尼卡(Paul R.La Monica)报道称，投资者不应忽视规模较小的股票。</blockquote></p><p></p><p>The Russell 2000, an index that's home to many small cap US stocks, is up about 13% so far in 2021. That's better than the gains for the Dow, S&amp;P 500 and the Mega Tech-dominated Nasdaq, which are up between 6% and 10% this year.</p><p><blockquote>罗素2000指数是许多美国小盘股的所在地，2021年迄今已上涨约13%。这好于道琼斯指数、标普500和以大型科技股为主的纳斯达克的涨幅，这些指数今年上涨了6%至10%。</blockquote></p><p>Smaller stocks began to rally at the end of 2020 after getting hit hard during the onset of the Covid-19 pandemic in the United States a year ago. They've continued to surge ever since.</p><p><blockquote>规模较小的股票在一年前美国新冠肺炎疫情爆发期间遭受重创后，于2020年底开始反弹。从那以后，它们持续激增。</blockquote></p><p>\"The Russell 2000 has had its best back-to-back quarterly gains in history,\" Megan Horneman, director of portfolio strategy at Verdence Capital Advisors, said in a recent report.</p><p><blockquote>Verdence Capital Advisors投资组合策略总监Megan Horneman在最近的一份报告中表示：“罗素2000指数创下了历史上最好的连续季度涨幅。”</blockquote></p><p>The backstory: Stimulus checks are lifting consumer spending and the domestic economy. Many Russell 2000 companies have a bigger chunk of their sales coming from the United States than from international markets.</p><p><blockquote>背景故事：刺激支票正在提振消费者支出和国内经济。许多罗素2000指数公司的销售额来自美国，而不是来自国际市场。</blockquote></p><p>\"Even after a rotation towards value and small cap stocks in recent months, relative to history they still look cheap compared to large-cap growth stocks and should benefit from a very strong economic surge,\" said David Kelly, chief global strategist with JPMorgan Funds.</p><p><blockquote>摩根大通首席全球策略师David Kelly表示：“即使在近几个月转向价值股和小盘股之后，相对于历史而言，与大盘成长股相比，它们看起来仍然很便宜，应该会受益于非常强劲的经济飙升。”基金。</blockquote></p><p><b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p>Conagra (CAG) and Constellation Brands (STZ) report results before US markets open. Levi Strauss (LEVI) follows after the close.</p><p><blockquote>康尼格拉(CAG)和星座品牌(STZ)在美国市场开盘前公布业绩。李维斯（李维）在收盘后紧随其后。</blockquote></p><p>Also today:</p><p><blockquote>同样在今天：</blockquote></p><p><ul><li>US initial unemployment claims for last week post at 8:30 a.m. ET.</li><li>Federal Reserve Chair Jerome Powell gives a speech on the global economy at 12 p.m. ET.</li></ul>Coming tomorrow: The Producer Price Index will provide a fresh look at US inflation trends.</p><p><blockquote><ul><li>美国东部时间上午8:30公布的上周首次申请失业救济人数。</li><li>美联储主席杰罗姆·鲍威尔将于美国东部时间中午12点就全球经济发表演讲。</li></ul>明天发布：生产者价格指数将为美国通胀趋势提供新的视角。</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>America's economy could be heading for a golden era of growth. But risks remain<blockquote>美国经济可能正在走向增长的黄金时代。但风险依然存在</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\">\nAmerica's economy could be heading for a golden era of growth. But risks remain<blockquote>美国经济可能正在走向增长的黄金时代。但风险依然存在</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-04-09 12:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>London (CNN Business)&nbsp;America's economy could be heading for a golden era of growth. But higher prices and the coronavirus pandemic still present risks.</p><p><blockquote>伦敦（CNN商业）美国经济可能正走向一个增长的黄金时代。但价格上涨和冠状病毒大流行仍然存在风险。</blockquote></p><p>What's happening: \"It is possible that we will have a Goldilocks moment — fast and sustained growth, inflation that moves up gently (but not too much) and interest rates that rise (but not too much),\" JPMorgan Chase CEO Jamie Dimon said in his widely-read annual letter to shareholders this week.</p><p><blockquote>正在发生的事情：摩根大通首席执行官杰米·戴蒙(Jamie Dimon)表示：“我们可能会迎来一个金发姑娘时刻——快速而持续的增长、通胀温和上升（但不会太多）以及利率上升（但不会太多）。”本周他致股东的年度信被广泛阅读。</blockquote></p><p>Dimon's optimism comes after the International Monetary Fund said that President Joe Biden's $1.9 trillion stimulus package will boost the US economy to 6.4% growth this year. That would be the fastest annual growth rate in the United States since 1984 under President Ronald Reagan.</p><p><blockquote>戴蒙的乐观情绪是在国际货币基金组织表示总统乔·拜登1.9万亿美元的刺激计划将推动美国经济今年增长6.4%之后做出的。这将是自1984年罗纳德·里根总统执政以来美国最快的年增长率。</blockquote></p><p>Economic data continues to support rosy predictions.</p><p><blockquote>经济数据继续支持乐观的预测。</blockquote></p><p>This week, the Institute for Supply Management published its monthly report on the US services sector, which accounts for 88% of America's gross domestic product. The group's services index for March jumped to 63.7, the highest level ever recorded.</p><p><blockquote>本周，供应管理协会发布了美国服务业月度报告，服务业占美国国内生产总值的88%。该集团3月份的服务指数跃升至63.7，为有记录以来的最高水平。</blockquote></p><p>\"There is clearly a big surge in activity underway,\" said Paul Ashworth, chief US economist at Capital Economics.</p><p><blockquote>凯投宏观(Capital Economics)首席美国经济学家保罗·阿什沃斯(Paul Ashworth)表示：“活动显然正在大幅激增。”</blockquote></p><p>This data has helped keep US stocks near record highs. But an undercurrent of anxiety remains. CNN Business' Fear &amp; Greed Index shows that market sentiment is in \"greedy\" territory, up from a neutral reading one week ago. But investors aren't throwing caution to the wind.</p><p><blockquote>这一数据帮助美股保持在历史高位附近。但焦虑的暗流依然存在。CNN Business的恐惧与贪婪指数显示，市场情绪处于“贪婪”区域，高于一周前的中性读数。但投资者并没有把谨慎抛在脑后。</blockquote></p><p>In a recent note to clients, Tobias Levkovich, Citigroup's chief U.S. equity strategist, warned that the fear of missing out appears to be dominating.</p><p><blockquote>花旗集团首席美国股票策略师托拜厄斯·列夫科维奇(Tobias Levkovich)在最近给客户的一份报告中警告说，对错过机会的恐惧似乎占主导地位。</blockquote></p><p>\"There's a 1999 perspective being noted with pressure for fund managers to participate in rising share prices even if there's also a recognition that it could end badly,\" Levkovich wrote, referring to the dot-com bubble that popped at the turn of the millennium.</p><p><blockquote>列夫科维奇在谈到世纪之交破裂的互联网泡沫时写道：“人们注意到，1999年的前景给基金经理带来了参与股价上涨的压力，即使人们也认识到这可能会以糟糕的结局告终。”</blockquote></p><p>He worries that investors are overlooking the risk that the Federal Reserve could change course and take some stimulus measures off the table, as well as the impact of \"plausible tax increases being proposed by the Biden administration.\"</p><p><blockquote>他担心投资者忽视了美联储可能改变方针并取消一些刺激措施的风险，以及“拜登政府提出的看似合理的增税措施”的影响。</blockquote></p><p>\"Indeed, all developments are perceived as positive news,\" Levkovich said.</p><p><blockquote>“事实上，所有事态发展都被视为积极消息，”列夫科维奇说。</blockquote></p><p>He's not the only one suggesting caution. On Wednesday, Dr. Anthony Fauci, the top US infectious disease expert, told CNN's Anderson Cooper that the number of new Covid-19 cases has plateaued at a \"disturbingly high level,\" and that the country could face yet another spike in infections.</p><p><blockquote>他不是唯一一个建议谨慎的人。周三，美国顶级传染病专家安东尼·福奇博士告诉美国有线电视新闻网(CNN)的安德森·库珀(Anderson Cooper)，新的Covid-19病例数量已稳定在“令人不安的高水平”，该国可能面临另一次感染高峰。</blockquote></p><p>\"It's almost a race between getting people vaccinated and this surge that seems to want to increase,\" Fauci said.</p><p><blockquote>福奇说：“这几乎是一场让人们接种疫苗和这种似乎想要增加的激增之间的竞赛。”</blockquote></p><p>The United States is vaccinating people quickly, with just over 33% of the population, or more than 109 million people, having received at least one dose. Yet the pace needs to increase now that that the virus variant first identified in the United Kingdom — known to be more transmissible and believed to be more deadly — is the country's most common strain.</p><p><blockquote>美国正在迅速为人们接种疫苗，超过33%的人口，即超过1.09亿人，至少接种了一剂疫苗。然而，现在需要加快步伐，因为在英国首次发现的病毒变种——已知传播性更强，据信更致命——是该国最常见的毒株。</blockquote></p><p><b>That's one big stock sale</b></p><p><blockquote><b>这是一次大的股票销售</b></blockquote></p><p>Tencent's biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, creating a massive war chest to invest in other ventures.</p><p><blockquote>腾讯控股最大股东出售了这家中国社交媒体和游戏巨头价值147亿美元的股票，创造了大量资金来投资其他企业。</blockquote></p><p>The latest: Prosus (PROSY), a spin-off by South African media and internet investment firm Naspers, sold a 2% stake in Tencent, the Chinese tech giant said in a Hong Kong Stock Exchange filing on Thursday.</p><p><blockquote>最新消息：南非媒体和互联网投资公司Naspers分拆出来的Prosus(PROSY)出售了腾讯控股2%的股份，这家中国科技巨头周四在港交所提交的文件中表示。</blockquote></p><p>Tencent (TCEHY), which reported a strong financial year during the pandemic, is by far Nasper's most successful investment, my CNN Business colleague Laura He reports.</p><p><blockquote>据我的CNN商业同事Laura He报道，腾讯控股(TCEHY)在疫情期间报告了强劲的财年，是迄今为止Nasper最成功的投资。</blockquote></p><p>The deal is the biggest block trade ever, according to data provider Refinitiv. Block trades are typically arranged directly between big institutional investors rather than on public stock exchanges.</p><p><blockquote>据数据提供商Refinitiv称，这笔交易是有史以来最大的大宗交易。大宗交易通常直接在大型机构投资者之间安排，而不是在公共证券交易所。</blockquote></p><p>Investor insight: Tencent's stock dropped 1.5% on Thursday in Hong Kong after the news. It has gained about 80% since Prosus was listed on the Amsterdam stock exchange in 2019.</p><p><blockquote>投资者洞察：消息传出后，腾讯控股股价周四在港下跌1.5%。自2019年Prosus在阿姆斯特丹证券交易所上市以来，该股已上涨约80%。</blockquote></p><p>After completion of the deal, Prosus will remain Tencent's single largest shareholder, with a 28.9% stake. But it will lose its controlling shareholder status, which under Hong Kong listing rules is granted to investors who hold at least 30% of voting rights.</p><p><blockquote>交易完成后，Prosus仍将是腾讯控股的单一最大股东，持有28.9%的股份。但它将失去控股股东地位，根据香港上市规则，控股股东地位授予持有至少30%投票权的投资者。</blockquote></p><p>What's next: The question now is what Prosus will do with all its cash. So far, the company isn't providing many details; in a statement, it said it plans to \"use the proceeds of the sale to increase its financial flexibility to invest in growth, plus for general corporate purposes.\"</p><p><blockquote>下一步：现在的问题是Prosus将如何处理其所有现金。到目前为止，该公司没有提供太多细节；该公司在一份声明中表示，计划“利用出售所得来提高其财务灵活性，以投资于增长以及一般企业用途。”</blockquote></p><p><b>Investing small has been a winning strategy</b></p><p><blockquote><b>小额投资一直是一种制胜策略</b></blockquote></p><p>The S&amp;P 500 and the Dow keep hitting record highs as blue-chip companies like Caterpillar, Chevron and GM soar.</p><p><blockquote>随着卡特彼勒、雪佛龙和通用汽车等蓝筹公司的飙升，标普500和道琼斯指数不断创下历史新高。</blockquote></p><p>But investors shouldn't ignore smaller stocks, my CNN Business colleague Paul R. La Monica reports.</p><p><blockquote>但我的CNN商业同事保罗·R·拉莫尼卡(Paul R.La Monica)报道称，投资者不应忽视规模较小的股票。</blockquote></p><p></p><p>The Russell 2000, an index that's home to many small cap US stocks, is up about 13% so far in 2021. That's better than the gains for the Dow, S&amp;P 500 and the Mega Tech-dominated Nasdaq, which are up between 6% and 10% this year.</p><p><blockquote>罗素2000指数是许多美国小盘股的所在地，2021年迄今已上涨约13%。这好于道琼斯指数、标普500和以大型科技股为主的纳斯达克的涨幅，这些指数今年上涨了6%至10%。</blockquote></p><p>Smaller stocks began to rally at the end of 2020 after getting hit hard during the onset of the Covid-19 pandemic in the United States a year ago. They've continued to surge ever since.</p><p><blockquote>规模较小的股票在一年前美国新冠肺炎疫情爆发期间遭受重创后，于2020年底开始反弹。从那以后，它们持续激增。</blockquote></p><p>\"The Russell 2000 has had its best back-to-back quarterly gains in history,\" Megan Horneman, director of portfolio strategy at Verdence Capital Advisors, said in a recent report.</p><p><blockquote>Verdence Capital Advisors投资组合策略总监Megan Horneman在最近的一份报告中表示：“罗素2000指数创下了历史上最好的连续季度涨幅。”</blockquote></p><p>The backstory: Stimulus checks are lifting consumer spending and the domestic economy. Many Russell 2000 companies have a bigger chunk of their sales coming from the United States than from international markets.</p><p><blockquote>背景故事：刺激支票正在提振消费者支出和国内经济。许多罗素2000指数公司的销售额来自美国，而不是来自国际市场。</blockquote></p><p>\"Even after a rotation towards value and small cap stocks in recent months, relative to history they still look cheap compared to large-cap growth stocks and should benefit from a very strong economic surge,\" said David Kelly, chief global strategist with JPMorgan Funds.</p><p><blockquote>摩根大通首席全球策略师David Kelly表示：“即使在近几个月转向价值股和小盘股之后，相对于历史而言，与大盘成长股相比，它们看起来仍然很便宜，应该会受益于非常强劲的经济飙升。”基金。</blockquote></p><p><b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p>Conagra (CAG) and Constellation Brands (STZ) report results before US markets open. Levi Strauss (LEVI) follows after the close.</p><p><blockquote>康尼格拉(CAG)和星座品牌(STZ)在美国市场开盘前公布业绩。李维斯（李维）在收盘后紧随其后。</blockquote></p><p>Also today:</p><p><blockquote>同样在今天：</blockquote></p><p><ul><li>US initial unemployment claims for last week post at 8:30 a.m. ET.</li><li>Federal Reserve Chair Jerome Powell gives a speech on the global economy at 12 p.m. ET.</li></ul>Coming tomorrow: The Producer Price Index will provide a fresh look at US inflation trends.</p><p><blockquote><ul><li>美国东部时间上午8:30公布的上周首次申请失业救济人数。</li><li>美联储主席杰罗姆·鲍威尔将于美国东部时间中午12点就全球经济发表演讲。</li></ul>明天发布：生产者价格指数将为美国通胀趋势提供新的视角。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/04/08/investing/premarket-stocks-trading/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://edition.cnn.com/2021/04/08/investing/premarket-stocks-trading/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166602213","content_text":"London (CNN Business) America's economy could be heading for a golden era of growth. But higher prices and the coronavirus pandemic still present risks.What's happening: \"It is possible that we will have a Goldilocks moment — fast and sustained growth, inflation that moves up gently (but not too much) and interest rates that rise (but not too much),\" JPMorgan Chase CEO Jamie Dimon said in his widely-read annual letter to shareholders this week.Dimon's optimism comes after the International Monetary Fund said that President Joe Biden's $1.9 trillion stimulus package will boost the US economy to 6.4% growth this year. That would be the fastest annual growth rate in the United States since 1984 under President Ronald Reagan.Economic data continues to support rosy predictions.This week, the Institute for Supply Management published its monthly report on the US services sector, which accounts for 88% of America's gross domestic product. The group's services index for March jumped to 63.7, the highest level ever recorded.\"There is clearly a big surge in activity underway,\" said Paul Ashworth, chief US economist at Capital Economics.This data has helped keep US stocks near record highs. But an undercurrent of anxiety remains. CNN Business' Fear & Greed Index shows that market sentiment is in \"greedy\" territory, up from a neutral reading one week ago. But investors aren't throwing caution to the wind.In a recent note to clients, Tobias Levkovich, Citigroup's chief U.S. equity strategist, warned that the fear of missing out appears to be dominating.\"There's a 1999 perspective being noted with pressure for fund managers to participate in rising share prices even if there's also a recognition that it could end badly,\" Levkovich wrote, referring to the dot-com bubble that popped at the turn of the millennium.He worries that investors are overlooking the risk that the Federal Reserve could change course and take some stimulus measures off the table, as well as the impact of \"plausible tax increases being proposed by the Biden administration.\"\"Indeed, all developments are perceived as positive news,\" Levkovich said.He's not the only one suggesting caution. On Wednesday, Dr. Anthony Fauci, the top US infectious disease expert, told CNN's Anderson Cooper that the number of new Covid-19 cases has plateaued at a \"disturbingly high level,\" and that the country could face yet another spike in infections.\"It's almost a race between getting people vaccinated and this surge that seems to want to increase,\" Fauci said.The United States is vaccinating people quickly, with just over 33% of the population, or more than 109 million people, having received at least one dose. Yet the pace needs to increase now that that the virus variant first identified in the United Kingdom — known to be more transmissible and believed to be more deadly — is the country's most common strain.That's one big stock saleTencent's biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, creating a massive war chest to invest in other ventures.The latest: Prosus (PROSY), a spin-off by South African media and internet investment firm Naspers, sold a 2% stake in Tencent, the Chinese tech giant said in a Hong Kong Stock Exchange filing on Thursday.Tencent (TCEHY), which reported a strong financial year during the pandemic, is by far Nasper's most successful investment, my CNN Business colleague Laura He reports.The deal is the biggest block trade ever, according to data provider Refinitiv. Block trades are typically arranged directly between big institutional investors rather than on public stock exchanges.Investor insight: Tencent's stock dropped 1.5% on Thursday in Hong Kong after the news. It has gained about 80% since Prosus was listed on the Amsterdam stock exchange in 2019.After completion of the deal, Prosus will remain Tencent's single largest shareholder, with a 28.9% stake. But it will lose its controlling shareholder status, which under Hong Kong listing rules is granted to investors who hold at least 30% of voting rights.What's next: The question now is what Prosus will do with all its cash. So far, the company isn't providing many details; in a statement, it said it plans to \"use the proceeds of the sale to increase its financial flexibility to invest in growth, plus for general corporate purposes.\"Investing small has been a winning strategyThe S&P 500 and the Dow keep hitting record highs as blue-chip companies like Caterpillar, Chevron and GM soar.But investors shouldn't ignore smaller stocks, my CNN Business colleague Paul R. La Monica reports.The Russell 2000, an index that's home to many small cap US stocks, is up about 13% so far in 2021. That's better than the gains for the Dow, S&P 500 and the Mega Tech-dominated Nasdaq, which are up between 6% and 10% this year.Smaller stocks began to rally at the end of 2020 after getting hit hard during the onset of the Covid-19 pandemic in the United States a year ago. They've continued to surge ever since.\"The Russell 2000 has had its best back-to-back quarterly gains in history,\" Megan Horneman, director of portfolio strategy at Verdence Capital Advisors, said in a recent report.The backstory: Stimulus checks are lifting consumer spending and the domestic economy. Many Russell 2000 companies have a bigger chunk of their sales coming from the United States than from international markets.\"Even after a rotation towards value and small cap stocks in recent months, relative to history they still look cheap compared to large-cap growth stocks and should benefit from a very strong economic surge,\" said David Kelly, chief global strategist with JPMorgan Funds.Up nextConagra (CAG) and Constellation Brands (STZ) report results before US markets open. Levi Strauss (LEVI) follows after the close.Also today:US initial unemployment claims for last week post at 8:30 a.m. ET.Federal Reserve Chair Jerome Powell gives a speech on the global economy at 12 p.m. ET.Coming tomorrow: The Producer Price Index will provide a fresh look at US inflation trends.","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":727,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341760754,"gmtCreate":1617856780178,"gmtModify":1634296110503,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/341760754","repostId":"1139460968","repostType":4,"isVote":1,"tweetType":1,"viewCount":589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341909058,"gmtCreate":1617766863374,"gmtModify":1634296624863,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/341909058","repostId":"1130149871","repostType":4,"isVote":1,"tweetType":1,"viewCount":486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343918941,"gmtCreate":1617669084983,"gmtModify":1634297238491,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/343918941","repostId":"1176115930","repostType":2,"repost":{"id":"1176115930","kind":"news","pubTimestamp":1617634372,"share":"https://www.laohu8.com/m/news/1176115930?lang=zh_CN&edition=full","pubTime":"2021-04-05 22:52","market":"us","language":"en","title":"Tesla’s Delivery Numbers Looked Great. Here’s What Wall Street Thinks.<blockquote>特斯拉的交付数据看起来很棒。这是华尔街的想法。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176115930","media":"Barrons","summary":"Tesla‘s first-quarter deliveries, reported on Friday during the market’s close, blew away Wall Stree","content":"<p>Tesla‘s first-quarter deliveries, reported on Friday during the market’s close, blew away Wall Street’s expectations. Investors sent shares of the electric-vehicle pioneer up sharply in early morning trading on Monday.</p><p><blockquote>周五收盘时公布的特斯拉第一季度交付量超出了华尔街的预期。周一早盘，投资者推动这家电动汽车先驱的股价大幅上涨。</blockquote></p><p> Tesla (ticker: TSLA) reported 185,000 vehicle deliveries for the first three months of 2021. Analyst projections for the quarter had drifted down to between 160,000 and 170,000 vehicles due to the global automotive microchip shortage roiling the entire automotive industry.</p><p><blockquote>特斯拉（股票代码：TSLA）报告称，2021年前三个月交付了185,000辆汽车。由于全球汽车微芯片短缺扰乱了整个汽车行业，分析师对本季度汽车销量的预测已降至160,000至170,000辆。</blockquote></p><p> It was a big beat. What’s more, Tesla’s 185,000 deliveries were higher than what the Street expected before analysts warned of the chip shortage. Tesla stock, as a result, is up almost 8% in premarket trading to about $711 a share.S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average&nbsp;futures, for comparison, are both up less than 1%.</p><p><blockquote>这是一个很大的节拍。更重要的是，特斯拉18.5万辆的交付量高于分析师警告芯片短缺之前华尔街的预期。因此，特斯拉股价在盘前交易中上涨近8%，至每股约711美元。相比之下，标准普尔500指数和道琼斯工业平均指数期货均上涨不到1%。</blockquote></p><p> The car maker’s deliveries were good enough for one analyst to upgrade his rating on the stock. Wedbush’sDan Ivesboosted his rating to Buy from Hold and raised his price target to $1,000 a share from $950. “The 1Q delivery number….was a paradigm changer and shows that the pent-up demand globally for&nbsp;Tesla’s Model 3/Y is hitting its next stage of growth,” wrote Ives in a Sunday note. “A global green tidal wave [is] underway.”</p><p><blockquote>这家汽车制造商的交付量足以让一位分析师上调对该股的评级。Wedbush的Dan Ives将其评级从持有上调至买入，并将目标价从每股950美元上调至1,000美元。“第一季度的交付数量……是一个范式改变者，表明全球对特斯拉Model 3/Y被压抑的需求正在进入下一个增长阶段，”Ives在周日的一份报告中写道。“一场全球绿色浪潮正在兴起。”</blockquote></p><p> Ives expects government incentives around the world to boost demand for electric vehicles. He increased his full-year delivery target for Tesla to about 850,000 vehicles. The current Wall Street consensus is about 800,000.</p><p><blockquote>艾夫斯预计，世界各地的政府激励措施将提振对电动汽车的需求。他将特斯拉全年交付目标提高至约85万辆。目前华尔街的共识是80万左右。</blockquote></p><p> New Street Research analyst&nbsp;Pierre Ferragu&nbsp;rated Tesla shares Buy with a $900 price target before Tesla’s delivery report. Ferragu, however, was a little nervous, believing that the chip shortage would impact deliveries. The results dismissed those concerns: “Initial review suggests we missed a monster March in China with Model Y ramping faster than we expected.” He sees Tesla’s earnings estimate moving higher because of Model Y growth. He also believes Tesla’s Model S and X vehicles, which are undergoing a refresh next quarter to upgrade interiors and features, can boost second-quarter results.</p><p><blockquote>New Street Research分析师Pierre Ferragu在特斯拉发布交付报告之前将特斯拉股票评级为买入，目标价为900美元。然而，Ferragu有点紧张，认为芯片短缺会影响交付。结果打消了这些担忧：“初步审查表明，我们错过了Model Y在中国的大规模进军，其速度比我们预期的要快。”他认为，由于Model Y的增长，特斯拉的盈利预期将会上调。他还认为，特斯拉的Model S和X车辆将在下个季度进行更新，以升级内饰和功能，这可以提振第二季度的业绩。</blockquote></p><p> Tesla delivered 2,000 Model S and X vehicles in the first quarter, lower than Baird analystBen Kalloexpected. “While a miss, this result is an inventory-clearing event ahead of significant upgrades of the model S and X,” wrote Kallo in a Monday report. those are undergoing a “refresh” in the second quarter. Auto makers will refresh models from time to time, upgrading interiors and features.</p><p><blockquote>特斯拉第一季度交付了2,000辆Model S和X汽车，低于Baird分析师Ben Kallo的预期。Kallo在周一的一份报告中写道：“虽然没有成功，但这一结果是model S和X重大升级之前的一次库存清理事件。”这些将在第二季度进行“更新”。汽车制造商会不时更新车型，升级内饰和功能。</blockquote></p><p> This will be the most significant refresh of those two models. Tesla will also launch the Model S Plaid edition, which the car maker says will be the fastest production vehicle ever made. “The new vehicles are due for [second quarter] delivery as the company is in the early stages of ramping production.”</p><p><blockquote>这将是这两款车型最重大的更新。特斯拉还将推出Model S格子版，该汽车制造商表示，这将是有史以来最快的量产车。“由于公司正处于增产的早期阶段，新车将于[第二季度]交付。”</blockquote></p><p> Kallo rates shares Buy and has a $736 price target for the stock.</p><p><blockquote>Kallo将该股评级为“买入”，并将该股目标价定为736美元。</blockquote></p><p> Not everyone is as bullish on Tesla stock. Cowen analystJeffery Osbornerates shares Hold. Despite his more cautious view, Osborne is raising his full-year delivery numbers and price target for shares of Tesla. “Receptivity to the Model Y in China was always a grey area in our minds since there was never disclosure on deposit/interest levels from Tesla,” wrote Osborne in a Sunday report. “Given the upside in [the first quarter] coupled with the positive tone in the release, we are raising our Model Y forecasts for 2021 and would expect the Street to do so.” Osborne raised his price target to $573 from $545.</p><p><blockquote>并非所有人都同样看好特斯拉股票。Cowen分析师杰弗里·奥斯本(Jeffery Osborn)评级为持有股票。尽管Osborne的观点更加谨慎，但他正在提高特斯拉股票的全年交付数据和目标价。Osborne在周日的一份报告中写道：“Model Y在中国的接受度一直是我们心中的灰色地带，因为特斯拉从未披露过存款/利息水平。”“鉴于[第一季度]的上涨空间以及发布的积极基调，我们正在上调2021年Model Y的预测，并预计华尔街也会这样做。”奥斯本将目标价从545美元上调至573美元。</blockquote></p><p> J.P. Morgan analyst&nbsp;Ryan Brinkman, who rates shares Sell, raised his target to $155 from $135 a share, still well below where the stock has been trading. Brinkman noted that sequential deliveries from the fourth to the first quarter, at 2%, were essentially flat. That’s one reason he believes Tesla stock is overpriced.</p><p><blockquote>摩根大通分析师瑞安·布林克曼(Ryan Brinkman)将该股评级为卖出，他将目标从每股135美元上调至155美元，仍远低于该股的交易价格。Brinkman指出，从第四季度到第一季度的连续交付量为2%，基本持平。这是他认为特斯拉股票定价过高的原因之一。</blockquote></p><p> Sell-rated GLJ analyst&nbsp;Gordon Johnson&nbsp;made the same point in his note. “Tesla has a growing demand problem,” wrote Johnson, saying that the more than 100% year-over-year growth in the first quarter isn’t as important as the 2% sequential growth from the fourth to the first quarter. His target price for Tesla stock is the lowest on the Street at $67 a share.</p><p><blockquote>卖出评级的GLJ分析师戈登·约翰逊(Gordon Johnson)在他的报告中也提出了同样的观点。“特斯拉的需求问题日益严重，”Johnson写道，他表示，第一季度超过100%的同比增长不如第四季度至第一季度2%的环比增长重要。他对特斯拉股票的目标价是华尔街最低的，为每股67美元。</blockquote></p><p> Johnson also questioned why Tesla&nbsp;produced zero&nbsp;Model S and X vehicles in the first quarter ahead of the refresh. That’s something analysts and investors can ask management about on the coming conference call.</p><p><blockquote>Johnson还质疑为什么特斯拉在更新之前的第一季度生产了零辆Model S和X汽车。这是分析师和投资者可以在即将到来的电话会议中向管理层询问的问题。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla’s Delivery Numbers Looked Great. Here’s What Wall Street Thinks.<blockquote>特斯拉的交付数据看起来很棒。这是华尔街的想法。</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’s Delivery Numbers Looked Great. Here’s What Wall Street Thinks.<blockquote>特斯拉的交付数据看起来很棒。这是华尔街的想法。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-05 22:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla‘s first-quarter deliveries, reported on Friday during the market’s close, blew away Wall Street’s expectations. Investors sent shares of the electric-vehicle pioneer up sharply in early morning trading on Monday.</p><p><blockquote>周五收盘时公布的特斯拉第一季度交付量超出了华尔街的预期。周一早盘，投资者推动这家电动汽车先驱的股价大幅上涨。</blockquote></p><p> Tesla (ticker: TSLA) reported 185,000 vehicle deliveries for the first three months of 2021. Analyst projections for the quarter had drifted down to between 160,000 and 170,000 vehicles due to the global automotive microchip shortage roiling the entire automotive industry.</p><p><blockquote>特斯拉（股票代码：TSLA）报告称，2021年前三个月交付了185,000辆汽车。由于全球汽车微芯片短缺扰乱了整个汽车行业，分析师对本季度汽车销量的预测已降至160,000至170,000辆。</blockquote></p><p> It was a big beat. What’s more, Tesla’s 185,000 deliveries were higher than what the Street expected before analysts warned of the chip shortage. Tesla stock, as a result, is up almost 8% in premarket trading to about $711 a share.S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average&nbsp;futures, for comparison, are both up less than 1%.</p><p><blockquote>这是一个很大的节拍。更重要的是，特斯拉18.5万辆的交付量高于分析师警告芯片短缺之前华尔街的预期。因此，特斯拉股价在盘前交易中上涨近8%，至每股约711美元。相比之下，标准普尔500指数和道琼斯工业平均指数期货均上涨不到1%。</blockquote></p><p> The car maker’s deliveries were good enough for one analyst to upgrade his rating on the stock. Wedbush’sDan Ivesboosted his rating to Buy from Hold and raised his price target to $1,000 a share from $950. “The 1Q delivery number….was a paradigm changer and shows that the pent-up demand globally for&nbsp;Tesla’s Model 3/Y is hitting its next stage of growth,” wrote Ives in a Sunday note. “A global green tidal wave [is] underway.”</p><p><blockquote>这家汽车制造商的交付量足以让一位分析师上调对该股的评级。Wedbush的Dan Ives将其评级从持有上调至买入，并将目标价从每股950美元上调至1,000美元。“第一季度的交付数量……是一个范式改变者，表明全球对特斯拉Model 3/Y被压抑的需求正在进入下一个增长阶段，”Ives在周日的一份报告中写道。“一场全球绿色浪潮正在兴起。”</blockquote></p><p> Ives expects government incentives around the world to boost demand for electric vehicles. He increased his full-year delivery target for Tesla to about 850,000 vehicles. The current Wall Street consensus is about 800,000.</p><p><blockquote>艾夫斯预计，世界各地的政府激励措施将提振对电动汽车的需求。他将特斯拉全年交付目标提高至约85万辆。目前华尔街的共识是80万左右。</blockquote></p><p> New Street Research analyst&nbsp;Pierre Ferragu&nbsp;rated Tesla shares Buy with a $900 price target before Tesla’s delivery report. Ferragu, however, was a little nervous, believing that the chip shortage would impact deliveries. The results dismissed those concerns: “Initial review suggests we missed a monster March in China with Model Y ramping faster than we expected.” He sees Tesla’s earnings estimate moving higher because of Model Y growth. He also believes Tesla’s Model S and X vehicles, which are undergoing a refresh next quarter to upgrade interiors and features, can boost second-quarter results.</p><p><blockquote>New Street Research分析师Pierre Ferragu在特斯拉发布交付报告之前将特斯拉股票评级为买入，目标价为900美元。然而，Ferragu有点紧张，认为芯片短缺会影响交付。结果打消了这些担忧：“初步审查表明，我们错过了Model Y在中国的大规模进军，其速度比我们预期的要快。”他认为，由于Model Y的增长，特斯拉的盈利预期将会上调。他还认为，特斯拉的Model S和X车辆将在下个季度进行更新，以升级内饰和功能，这可以提振第二季度的业绩。</blockquote></p><p> Tesla delivered 2,000 Model S and X vehicles in the first quarter, lower than Baird analystBen Kalloexpected. “While a miss, this result is an inventory-clearing event ahead of significant upgrades of the model S and X,” wrote Kallo in a Monday report. those are undergoing a “refresh” in the second quarter. Auto makers will refresh models from time to time, upgrading interiors and features.</p><p><blockquote>特斯拉第一季度交付了2,000辆Model S和X汽车，低于Baird分析师Ben Kallo的预期。Kallo在周一的一份报告中写道：“虽然没有成功，但这一结果是model S和X重大升级之前的一次库存清理事件。”这些将在第二季度进行“更新”。汽车制造商会不时更新车型，升级内饰和功能。</blockquote></p><p> This will be the most significant refresh of those two models. Tesla will also launch the Model S Plaid edition, which the car maker says will be the fastest production vehicle ever made. “The new vehicles are due for [second quarter] delivery as the company is in the early stages of ramping production.”</p><p><blockquote>这将是这两款车型最重大的更新。特斯拉还将推出Model S格子版，该汽车制造商表示，这将是有史以来最快的量产车。“由于公司正处于增产的早期阶段，新车将于[第二季度]交付。”</blockquote></p><p> Kallo rates shares Buy and has a $736 price target for the stock.</p><p><blockquote>Kallo将该股评级为“买入”，并将该股目标价定为736美元。</blockquote></p><p> Not everyone is as bullish on Tesla stock. Cowen analystJeffery Osbornerates shares Hold. Despite his more cautious view, Osborne is raising his full-year delivery numbers and price target for shares of Tesla. “Receptivity to the Model Y in China was always a grey area in our minds since there was never disclosure on deposit/interest levels from Tesla,” wrote Osborne in a Sunday report. “Given the upside in [the first quarter] coupled with the positive tone in the release, we are raising our Model Y forecasts for 2021 and would expect the Street to do so.” Osborne raised his price target to $573 from $545.</p><p><blockquote>并非所有人都同样看好特斯拉股票。Cowen分析师杰弗里·奥斯本(Jeffery Osborn)评级为持有股票。尽管Osborne的观点更加谨慎，但他正在提高特斯拉股票的全年交付数据和目标价。Osborne在周日的一份报告中写道：“Model Y在中国的接受度一直是我们心中的灰色地带，因为特斯拉从未披露过存款/利息水平。”“鉴于[第一季度]的上涨空间以及发布的积极基调，我们正在上调2021年Model Y的预测，并预计华尔街也会这样做。”奥斯本将目标价从545美元上调至573美元。</blockquote></p><p> J.P. Morgan analyst&nbsp;Ryan Brinkman, who rates shares Sell, raised his target to $155 from $135 a share, still well below where the stock has been trading. Brinkman noted that sequential deliveries from the fourth to the first quarter, at 2%, were essentially flat. That’s one reason he believes Tesla stock is overpriced.</p><p><blockquote>摩根大通分析师瑞安·布林克曼(Ryan Brinkman)将该股评级为卖出，他将目标从每股135美元上调至155美元，仍远低于该股的交易价格。Brinkman指出，从第四季度到第一季度的连续交付量为2%，基本持平。这是他认为特斯拉股票定价过高的原因之一。</blockquote></p><p> Sell-rated GLJ analyst&nbsp;Gordon Johnson&nbsp;made the same point in his note. “Tesla has a growing demand problem,” wrote Johnson, saying that the more than 100% year-over-year growth in the first quarter isn’t as important as the 2% sequential growth from the fourth to the first quarter. His target price for Tesla stock is the lowest on the Street at $67 a share.</p><p><blockquote>卖出评级的GLJ分析师戈登·约翰逊(Gordon Johnson)在他的报告中也提出了同样的观点。“特斯拉的需求问题日益严重，”Johnson写道，他表示，第一季度超过100%的同比增长不如第四季度至第一季度2%的环比增长重要。他对特斯拉股票的目标价是华尔街最低的，为每股67美元。</blockquote></p><p> Johnson also questioned why Tesla&nbsp;produced zero&nbsp;Model S and X vehicles in the first quarter ahead of the refresh. That’s something analysts and investors can ask management about on the coming conference call.</p><p><blockquote>Johnson还质疑为什么特斯拉在更新之前的第一季度生产了零辆Model S和X汽车。这是分析师和投资者可以在即将到来的电话会议中向管理层询问的问题。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/teslas-delivery-numbers-looked-great-heres-what-wall-street-thinks-51617627233?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/teslas-delivery-numbers-looked-great-heres-what-wall-street-thinks-51617627233?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176115930","content_text":"Tesla‘s first-quarter deliveries, reported on Friday during the market’s close, blew away Wall Street’s expectations. Investors sent shares of the electric-vehicle pioneer up sharply in early morning trading on Monday.\nTesla (ticker: TSLA) reported 185,000 vehicle deliveries for the first three months of 2021. Analyst projections for the quarter had drifted down to between 160,000 and 170,000 vehicles due to the global automotive microchip shortage roiling the entire automotive industry.\nIt was a big beat. What’s more, Tesla’s 185,000 deliveries were higher than what the Street expected before analysts warned of the chip shortage. Tesla stock, as a result, is up almost 8% in premarket trading to about $711 a share.S&P 500 and Dow Jones Industrial Average futures, for comparison, are both up less than 1%.\nThe car maker’s deliveries were good enough for one analyst to upgrade his rating on the stock. Wedbush’sDan Ivesboosted his rating to Buy from Hold and raised his price target to $1,000 a share from $950. “The 1Q delivery number….was a paradigm changer and shows that the pent-up demand globally for Tesla’s Model 3/Y is hitting its next stage of growth,” wrote Ives in a Sunday note. “A global green tidal wave [is] underway.”\nIves expects government incentives around the world to boost demand for electric vehicles. He increased his full-year delivery target for Tesla to about 850,000 vehicles. The current Wall Street consensus is about 800,000.\nNew Street Research analyst Pierre Ferragu rated Tesla shares Buy with a $900 price target before Tesla’s delivery report. Ferragu, however, was a little nervous, believing that the chip shortage would impact deliveries. The results dismissed those concerns: “Initial review suggests we missed a monster March in China with Model Y ramping faster than we expected.” He sees Tesla’s earnings estimate moving higher because of Model Y growth. He also believes Tesla’s Model S and X vehicles, which are undergoing a refresh next quarter to upgrade interiors and features, can boost second-quarter results.\nTesla delivered 2,000 Model S and X vehicles in the first quarter, lower than Baird analystBen Kalloexpected. “While a miss, this result is an inventory-clearing event ahead of significant upgrades of the model S and X,” wrote Kallo in a Monday report. those are undergoing a “refresh” in the second quarter. Auto makers will refresh models from time to time, upgrading interiors and features.\nThis will be the most significant refresh of those two models. Tesla will also launch the Model S Plaid edition, which the car maker says will be the fastest production vehicle ever made. “The new vehicles are due for [second quarter] delivery as the company is in the early stages of ramping production.”\nKallo rates shares Buy and has a $736 price target for the stock.\nNot everyone is as bullish on Tesla stock. Cowen analystJeffery Osbornerates shares Hold. Despite his more cautious view, Osborne is raising his full-year delivery numbers and price target for shares of Tesla. “Receptivity to the Model Y in China was always a grey area in our minds since there was never disclosure on deposit/interest levels from Tesla,” wrote Osborne in a Sunday report. “Given the upside in [the first quarter] coupled with the positive tone in the release, we are raising our Model Y forecasts for 2021 and would expect the Street to do so.” Osborne raised his price target to $573 from $545.\nJ.P. Morgan analyst Ryan Brinkman, who rates shares Sell, raised his target to $155 from $135 a share, still well below where the stock has been trading. Brinkman noted that sequential deliveries from the fourth to the first quarter, at 2%, were essentially flat. That’s one reason he believes Tesla stock is overpriced.\nSell-rated GLJ analyst Gordon Johnson made the same point in his note. “Tesla has a growing demand problem,” wrote Johnson, saying that the more than 100% year-over-year growth in the first quarter isn’t as important as the 2% sequential growth from the fourth to the first quarter. His target price for Tesla stock is the lowest on the Street at $67 a share.\nJohnson also questioned why Tesla produced zero Model S and X vehicles in the first quarter ahead of the refresh. That’s something analysts and investors can ask management about on the coming conference call.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":377307493,"gmtCreate":1619494098512,"gmtModify":1634212294346,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/377307493","repostId":"1190086074","repostType":4,"repost":{"id":"1190086074","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":1619480390,"share":"https://www.laohu8.com/m/news/1190086074?lang=zh_CN&edition=full","pubTime":"2021-04-27 07:39","market":"us","language":"en","title":"Tesla posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创纪录4.38亿美元营收暴增74%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190086074","media":"Tiger Newspress","summary":"Tesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be deliv","content":"<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Tesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.</li><li>In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”</li><li>On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be delivered starting in May 2021, and Model X deliveries will begin in the third quarter of the year.</li></ul>Tesla&nbsp;reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 2.5% after hours as investors digested the numbers.</p><p><blockquote><ul><li>特斯拉报告本季度净利润达到创纪录的4.38亿美元，每股收益为93美分，营收为103.9亿美元。</li><li>该公司在财报中表示，通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，它已经度过了困扰汽车行业的芯片短缺问题。</li><li>在财报看涨期权上，首席执行官Elon Musk表示，该公司推迟的新版Model S轿车将于2021年5月开始交付，Model X将于今年第三季度开始交付。</li></ul>特斯拉周一盘后公布了第一季度业绩。在比特币销售和监管信贷的提振下，该公司轻松超出预期，但随着投资者消化这些数据，该股盘后下跌2.5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/fec5c52f391c1077b749edc13b7b3417\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv:</p><p><blockquote>以下是该公司本季度的表现，与Refinitiv编制的分析师预期相比：</blockquote></p><p><ul><li><b>Earnings:</b>93 cents per share vs. 79 cents per share expected</li><li><b>Revenue:</b>$10.39 billion vs. $10.29 billion expected, up 74% from a year ago</li></ul>Net profit reached a quarterly record of $438 million on a GAAP basis, and the company recorded $518 million in revenue from sales of regulatory credits during the period. It also recorded a $101 million positive impact from&nbsp;sales of bitcoin&nbsp;during the quarter.</p><p><blockquote><ul><li><b>收益：</b>每股93美分，预期每股79美分</li><li><b>收入：</b>103.9亿美元，预期为102.9亿美元，同比增长74%</li></ul>按GAAP计算，净利润达到季度创纪录的4.38亿美元，该公司在此期间从监管信贷销售中获得了5.18亿美元的收入。本季度比特币销售还带来了1.01亿美元的积极影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/107ab1e725bed375ea106bdf3024ec6a\" tg-width=\"1910\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>CEO Elon Musk’s electric vehicle business reported in the first quarter&nbsp;vehicle deliveries of 184,800&nbsp;Model 3 and Model Y cars, beating expectations and setting a record for Tesla. However, the company also said it produced none of its higher-end Model S sedans or Model X SUVs for the period ending March. It delivered2,020 older Model S sedans and Model X SUVs from inventory.</p><p><blockquote>首席执行官Elon Musk的电动汽车业务报告称，第一季度Model 3和Model Y汽车交付量为18.48万辆，超出预期，创下了特斯拉的纪录。不过，该公司还表示，截至3月份，该公司没有生产任何高端Model S轿车或Model X SUV。它从库存中交付了2,020辆旧款Model S轿车和Model X SUV。</blockquote></p><p>On Monday’s earnings call, Musk said the new version of the company’s Model S sedans will finally be delivered to customers starting in May 2021, with Model X deliveries to begin in the third quarter of the year. Musk and CFO Zachary Kirkhorn both said supply chain issues are likely to remain a challenge for Tesla this year.</p><p><blockquote>在周一的财报看涨期权上，Musk表示，该公司新版Model S轿车最终将于2021年5月开始向客户交付，Model X将于今年第三季度开始交付。Musk和CFO Zachary Kirkhorn均表示，供应链问题可能仍是特斯拉今年面临的挑战。</blockquote></p><p>In January 2021 (during a fourth-quarter 2020 earnings update) Musk had said that the Model S Plaid was already in production would be delivered starting in February 2021. But he admitted on Monday, “There were more challenges than expected,” in producing the refreshed version of these vehicles. He did not elaborate.</p><p><blockquote>2021年1月（在2020年第四季度财报更新期间），马斯克曾表示，Model S Plaid已经投入生产，将于2021年2月开始交付。但他周一承认，在生产这些车辆的更新版本时，“存在比预期更多的挑战”。他没有详细说明。</blockquote></p><p>Tesla is now aiming to produce 2,000 Model S and X vehicles per week later this year.</p><p><blockquote>特斯拉目前的目标是在今年晚些时候每周生产2,000辆Model S和X汽车。</blockquote></p><p>The company said Monday it expects more than 50% vehicle delivery growth in 2021 overall, which implies minimum deliveries around 750,000 vehicles this year.</p><p><blockquote>该公司周一表示，预计2021年汽车交付量总体增长将超过50%，这意味着今年的最低交付量约为75万辆。</blockquote></p><p>The fact Tesla grew vehicle unit sales by more than 100% year over year but grew service centers by only 28% and its mobile service fleet by only 22% explains why some Tesla customers face frustratingly long wait times for repairs. Service expansion is not keeping pace with the volume of vehicles sold.</p><p><blockquote>事实上，特斯拉的汽车销量同比增长超过100%，但服务中心仅增长28%，移动服务车队仅增长22%，这解释了为什么一些特斯拉客户面临令人沮丧的漫长维修等待时间。服务扩张跟不上车辆销量的步伐。</blockquote></p><p>Tesla said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.” It did not disclose the names of its new suppliers.</p><p><blockquote>特斯拉表示，它通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，部分克服了困扰汽车行业的芯片短缺问题。它没有透露新供应商的名称。</blockquote></p><p>It also reiterated Musk’s frequent claim that cameras, not radar, are a better path toward autonomous vehicles. “Our AI-based software architecture has been increasingly reliant on cameras, to the point where radar is becoming unnecessary earlier than expected. As a result, our FSD [Full Self-Driving] team is fully focused on evolving to a vision-based autonomous system and we are nearly ready to switch the US market to Tesla Vision,” the company said in its earnings release.</p><p><blockquote>它还重申了马斯克经常声称的摄像头而不是雷达是自动驾驶汽车的更好途径。“我们基于人工智能的软件架构越来越依赖摄像头，以至于雷达比预期更早变得不必要。因此，我们的FSD（全自动驾驶）团队完全专注于向基于视觉的自动驾驶系统发展，我们几乎准备好将美国市场转向特斯拉视觉，”该公司在财报中表示。</blockquote></p><p>Revenue for its energy generation and storage business nearly doubled for Tesla versus the same period in 2020, when Musk said Covid, then an emerging pandemic, had slowed its energy business to a crawl. But energy revenue declined from $787 million in the fourth quarter to $595 million in the first quarter of 2021.</p><p><blockquote>与2020年同期相比，特斯拉能源发电和存储业务的收入几乎翻了一番，当时马斯克表示，当时新冠疫情是一种新兴流行病，导致其能源业务放缓。但能源收入从第四季度的7.87亿美元下降至2021年第一季度的5.95亿美元。</blockquote></p><p>Recently, Tesla increased prices for its solar rooftops by 50%, and now requires anyone ordering solar photovoltaics (including Tesla solar roof tiles) to also order the Powerwall, Tesla’s home energy storage system. The sudden price change applied retroactively to some&nbsp;vexed customers.</p><p><blockquote>最近，特斯拉将其太阳能屋顶的价格提高了50%，现在要求任何订购太阳能光伏（包括特斯拉太阳能屋顶瓦片）的人也必须订购特斯拉的家庭储能系统Powerwall。突然的价格变化追溯适用于一些恼怒的顾客。</blockquote></p><p>Musk said on the Q1 2021 call that he is aiming for homes with solar rooftops and batteries from Tesla to function as a “giant distributed utility” that can help incumbent electrical utilities supply customers with all the electricity they need as demand and extreme weather events increase.</p><p><blockquote>马斯克在2021年第一季度看涨期权上表示，他的目标是让拥有太阳能屋顶和特斯拉电池的家庭成为“巨型分布式公用事业公司”，可以帮助现有电力公司在需求和极端天气事件增加时为客户提供所需的所有电力。</blockquote></p><p></p><p>Executives did not say how they would change their production or mix of battery cells from suppliers in order to make a higher volume of vehicles and energy storage products in 2021.</p><p><blockquote>高管们没有透露他们将如何改变供应商的电池生产或组合，以便在2021年生产更多的汽车和储能产品。</blockquote></p><p>Musk said the company’s 4680 cells, which it developed independently and makes at a pilot plant in Fremont, California, are not yet reliable enough to be shipped in Tesla vehicles. He said Tesla would probably “achieve volume production” of these cells in 12 to 18 months.</p><p><blockquote>Musk表示，该公司自主开发并在加州Fremont的一家试点工厂生产的4680电池还不够可靠，无法用特斯拉汽车运输。他表示，特斯拉可能会在12至18个月内“实现批量生产”这些电池。</blockquote></p><p>The company revealed in February it purchased&nbsp;$1.5 billion in bitcoin&nbsp;and would potentially invest in other cryptocurrencies in the future. By April, bitcoin rose to record levels before pulling back. In its statement of cash flows, Tesla revealed that it had sold $272 million worth of “digital assets,” presumably bitcoin, during the quarter.</p><p><blockquote>该公司在2月份透露，它购买了15亿美元的比特币，并可能在未来投资其他加密货币。到4月份，比特币升至创纪录水平，然后回落。特斯拉在其现金流量表中透露，该公司在本季度出售了价值2.72亿美元的“数字资产”，可能是比特币。</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 posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创纪录4.38亿美元营收暴增74%</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 posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创纪录4.38亿美元营收暴增74%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-27 07:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Tesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.</li><li>In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”</li><li>On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be delivered starting in May 2021, and Model X deliveries will begin in the third quarter of the year.</li></ul>Tesla&nbsp;reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 2.5% after hours as investors digested the numbers.</p><p><blockquote><ul><li>特斯拉报告本季度净利润达到创纪录的4.38亿美元，每股收益为93美分，营收为103.9亿美元。</li><li>该公司在财报中表示，通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，它已经度过了困扰汽车行业的芯片短缺问题。</li><li>在财报看涨期权上，首席执行官Elon Musk表示，该公司推迟的新版Model S轿车将于2021年5月开始交付，Model X将于今年第三季度开始交付。</li></ul>特斯拉周一盘后公布了第一季度业绩。在比特币销售和监管信贷的提振下，该公司轻松超出预期，但随着投资者消化这些数据，该股盘后下跌2.5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/fec5c52f391c1077b749edc13b7b3417\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv:</p><p><blockquote>以下是该公司本季度的表现，与Refinitiv编制的分析师预期相比：</blockquote></p><p><ul><li><b>Earnings:</b>93 cents per share vs. 79 cents per share expected</li><li><b>Revenue:</b>$10.39 billion vs. $10.29 billion expected, up 74% from a year ago</li></ul>Net profit reached a quarterly record of $438 million on a GAAP basis, and the company recorded $518 million in revenue from sales of regulatory credits during the period. It also recorded a $101 million positive impact from&nbsp;sales of bitcoin&nbsp;during the quarter.</p><p><blockquote><ul><li><b>收益：</b>每股93美分，预期每股79美分</li><li><b>收入：</b>103.9亿美元，预期为102.9亿美元，同比增长74%</li></ul>按GAAP计算，净利润达到季度创纪录的4.38亿美元，该公司在此期间从监管信贷销售中获得了5.18亿美元的收入。本季度比特币销售还带来了1.01亿美元的积极影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/107ab1e725bed375ea106bdf3024ec6a\" tg-width=\"1910\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>CEO Elon Musk’s electric vehicle business reported in the first quarter&nbsp;vehicle deliveries of 184,800&nbsp;Model 3 and Model Y cars, beating expectations and setting a record for Tesla. However, the company also said it produced none of its higher-end Model S sedans or Model X SUVs for the period ending March. It delivered2,020 older Model S sedans and Model X SUVs from inventory.</p><p><blockquote>首席执行官Elon Musk的电动汽车业务报告称，第一季度Model 3和Model Y汽车交付量为18.48万辆，超出预期，创下了特斯拉的纪录。不过，该公司还表示，截至3月份，该公司没有生产任何高端Model S轿车或Model X SUV。它从库存中交付了2,020辆旧款Model S轿车和Model X SUV。</blockquote></p><p>On Monday’s earnings call, Musk said the new version of the company’s Model S sedans will finally be delivered to customers starting in May 2021, with Model X deliveries to begin in the third quarter of the year. Musk and CFO Zachary Kirkhorn both said supply chain issues are likely to remain a challenge for Tesla this year.</p><p><blockquote>在周一的财报看涨期权上，Musk表示，该公司新版Model S轿车最终将于2021年5月开始向客户交付，Model X将于今年第三季度开始交付。Musk和CFO Zachary Kirkhorn均表示，供应链问题可能仍是特斯拉今年面临的挑战。</blockquote></p><p>In January 2021 (during a fourth-quarter 2020 earnings update) Musk had said that the Model S Plaid was already in production would be delivered starting in February 2021. But he admitted on Monday, “There were more challenges than expected,” in producing the refreshed version of these vehicles. He did not elaborate.</p><p><blockquote>2021年1月（在2020年第四季度财报更新期间），马斯克曾表示，Model S Plaid已经投入生产，将于2021年2月开始交付。但他周一承认，在生产这些车辆的更新版本时，“存在比预期更多的挑战”。他没有详细说明。</blockquote></p><p>Tesla is now aiming to produce 2,000 Model S and X vehicles per week later this year.</p><p><blockquote>特斯拉目前的目标是在今年晚些时候每周生产2,000辆Model S和X汽车。</blockquote></p><p>The company said Monday it expects more than 50% vehicle delivery growth in 2021 overall, which implies minimum deliveries around 750,000 vehicles this year.</p><p><blockquote>该公司周一表示，预计2021年汽车交付量总体增长将超过50%，这意味着今年的最低交付量约为75万辆。</blockquote></p><p>The fact Tesla grew vehicle unit sales by more than 100% year over year but grew service centers by only 28% and its mobile service fleet by only 22% explains why some Tesla customers face frustratingly long wait times for repairs. Service expansion is not keeping pace with the volume of vehicles sold.</p><p><blockquote>事实上，特斯拉的汽车销量同比增长超过100%，但服务中心仅增长28%，移动服务车队仅增长22%，这解释了为什么一些特斯拉客户面临令人沮丧的漫长维修等待时间。服务扩张跟不上车辆销量的步伐。</blockquote></p><p>Tesla said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.” It did not disclose the names of its new suppliers.</p><p><blockquote>特斯拉表示，它通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，部分克服了困扰汽车行业的芯片短缺问题。它没有透露新供应商的名称。</blockquote></p><p>It also reiterated Musk’s frequent claim that cameras, not radar, are a better path toward autonomous vehicles. “Our AI-based software architecture has been increasingly reliant on cameras, to the point where radar is becoming unnecessary earlier than expected. As a result, our FSD [Full Self-Driving] team is fully focused on evolving to a vision-based autonomous system and we are nearly ready to switch the US market to Tesla Vision,” the company said in its earnings release.</p><p><blockquote>它还重申了马斯克经常声称的摄像头而不是雷达是自动驾驶汽车的更好途径。“我们基于人工智能的软件架构越来越依赖摄像头，以至于雷达比预期更早变得不必要。因此，我们的FSD（全自动驾驶）团队完全专注于向基于视觉的自动驾驶系统发展，我们几乎准备好将美国市场转向特斯拉视觉，”该公司在财报中表示。</blockquote></p><p>Revenue for its energy generation and storage business nearly doubled for Tesla versus the same period in 2020, when Musk said Covid, then an emerging pandemic, had slowed its energy business to a crawl. But energy revenue declined from $787 million in the fourth quarter to $595 million in the first quarter of 2021.</p><p><blockquote>与2020年同期相比，特斯拉能源发电和存储业务的收入几乎翻了一番，当时马斯克表示，当时新冠疫情是一种新兴流行病，导致其能源业务放缓。但能源收入从第四季度的7.87亿美元下降至2021年第一季度的5.95亿美元。</blockquote></p><p>Recently, Tesla increased prices for its solar rooftops by 50%, and now requires anyone ordering solar photovoltaics (including Tesla solar roof tiles) to also order the Powerwall, Tesla’s home energy storage system. The sudden price change applied retroactively to some&nbsp;vexed customers.</p><p><blockquote>最近，特斯拉将其太阳能屋顶的价格提高了50%，现在要求任何订购太阳能光伏（包括特斯拉太阳能屋顶瓦片）的人也必须订购特斯拉的家庭储能系统Powerwall。突然的价格变化追溯适用于一些恼怒的顾客。</blockquote></p><p>Musk said on the Q1 2021 call that he is aiming for homes with solar rooftops and batteries from Tesla to function as a “giant distributed utility” that can help incumbent electrical utilities supply customers with all the electricity they need as demand and extreme weather events increase.</p><p><blockquote>马斯克在2021年第一季度看涨期权上表示，他的目标是让拥有太阳能屋顶和特斯拉电池的家庭成为“巨型分布式公用事业公司”，可以帮助现有电力公司在需求和极端天气事件增加时为客户提供所需的所有电力。</blockquote></p><p></p><p>Executives did not say how they would change their production or mix of battery cells from suppliers in order to make a higher volume of vehicles and energy storage products in 2021.</p><p><blockquote>高管们没有透露他们将如何改变供应商的电池生产或组合，以便在2021年生产更多的汽车和储能产品。</blockquote></p><p>Musk said the company’s 4680 cells, which it developed independently and makes at a pilot plant in Fremont, California, are not yet reliable enough to be shipped in Tesla vehicles. He said Tesla would probably “achieve volume production” of these cells in 12 to 18 months.</p><p><blockquote>Musk表示，该公司自主开发并在加州Fremont的一家试点工厂生产的4680电池还不够可靠，无法用特斯拉汽车运输。他表示，特斯拉可能会在12至18个月内“实现批量生产”这些电池。</blockquote></p><p>The company revealed in February it purchased&nbsp;$1.5 billion in bitcoin&nbsp;and would potentially invest in other cryptocurrencies in the future. By April, bitcoin rose to record levels before pulling back. In its statement of cash flows, Tesla revealed that it had sold $272 million worth of “digital assets,” presumably bitcoin, during the quarter.</p><p><blockquote>该公司在2月份透露，它购买了15亿美元的比特币，并可能在未来投资其他加密货币。到4月份，比特币升至创纪录水平，然后回落。特斯拉在其现金流量表中透露，该公司在本季度出售了价值2.72亿美元的“数字资产”，可能是比特币。</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":"1190086074","content_text":"KEY POINTSTesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be delivered starting in May 2021, and Model X deliveries will begin in the third quarter of the year.Tesla reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 2.5% after hours as investors digested the numbers.Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv:Earnings:93 cents per share vs. 79 cents per share expectedRevenue:$10.39 billion vs. $10.29 billion expected, up 74% from a year agoNet profit reached a quarterly record of $438 million on a GAAP basis, and the company recorded $518 million in revenue from sales of regulatory credits during the period. It also recorded a $101 million positive impact from sales of bitcoin during the quarter.CEO Elon Musk’s electric vehicle business reported in the first quarter vehicle deliveries of 184,800 Model 3 and Model Y cars, beating expectations and setting a record for Tesla. However, the company also said it produced none of its higher-end Model S sedans or Model X SUVs for the period ending March. It delivered2,020 older Model S sedans and Model X SUVs from inventory.On Monday’s earnings call, Musk said the new version of the company’s Model S sedans will finally be delivered to customers starting in May 2021, with Model X deliveries to begin in the third quarter of the year. Musk and CFO Zachary Kirkhorn both said supply chain issues are likely to remain a challenge for Tesla this year.In January 2021 (during a fourth-quarter 2020 earnings update) Musk had said that the Model S Plaid was already in production would be delivered starting in February 2021. But he admitted on Monday, “There were more challenges than expected,” in producing the refreshed version of these vehicles. He did not elaborate.Tesla is now aiming to produce 2,000 Model S and X vehicles per week later this year.The company said Monday it expects more than 50% vehicle delivery growth in 2021 overall, which implies minimum deliveries around 750,000 vehicles this year.The fact Tesla grew vehicle unit sales by more than 100% year over year but grew service centers by only 28% and its mobile service fleet by only 22% explains why some Tesla customers face frustratingly long wait times for repairs. Service expansion is not keeping pace with the volume of vehicles sold.Tesla said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.” It did not disclose the names of its new suppliers.It also reiterated Musk’s frequent claim that cameras, not radar, are a better path toward autonomous vehicles. “Our AI-based software architecture has been increasingly reliant on cameras, to the point where radar is becoming unnecessary earlier than expected. As a result, our FSD [Full Self-Driving] team is fully focused on evolving to a vision-based autonomous system and we are nearly ready to switch the US market to Tesla Vision,” the company said in its earnings release.Revenue for its energy generation and storage business nearly doubled for Tesla versus the same period in 2020, when Musk said Covid, then an emerging pandemic, had slowed its energy business to a crawl. But energy revenue declined from $787 million in the fourth quarter to $595 million in the first quarter of 2021.Recently, Tesla increased prices for its solar rooftops by 50%, and now requires anyone ordering solar photovoltaics (including Tesla solar roof tiles) to also order the Powerwall, Tesla’s home energy storage system. The sudden price change applied retroactively to some vexed customers.Musk said on the Q1 2021 call that he is aiming for homes with solar rooftops and batteries from Tesla to function as a “giant distributed utility” that can help incumbent electrical utilities supply customers with all the electricity they need as demand and extreme weather events increase.Executives did not say how they would change their production or mix of battery cells from suppliers in order to make a higher volume of vehicles and energy storage products in 2021.Musk said the company’s 4680 cells, which it developed independently and makes at a pilot plant in Fremont, California, are not yet reliable enough to be shipped in Tesla vehicles. He said Tesla would probably “achieve volume production” of these cells in 12 to 18 months.The company revealed in February it purchased $1.5 billion in bitcoin and would potentially invest in other cryptocurrencies in the future. By April, bitcoin rose to record levels before pulling back. In its statement of cash flows, Tesla revealed that it had sold $272 million worth of “digital assets,” presumably bitcoin, during the quarter.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1482,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378731593,"gmtCreate":1619059980212,"gmtModify":1634288847246,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/378731593","repostId":"2129808688","repostType":4,"isVote":1,"tweetType":1,"viewCount":1505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109196885,"gmtCreate":1619670712947,"gmtModify":1634210837569,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/109196885","repostId":"1137964402","repostType":4,"repost":{"id":"1137964402","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":1619651546,"share":"https://www.laohu8.com/m/news/1137964402?lang=zh_CN&edition=full","pubTime":"2021-04-29 07:12","market":"us","language":"en","title":"Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137964402","media":"Tiger Newspress","summary":"Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65","content":"<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p><blockquote><ul><li>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</li><li>苹果没有就截至6月份的季度的预期发布官方指引。</li><li>苹果授权900亿美元的股票回购。</li></ul>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</blockquote></p><p>Apple stock rose over 4% at one point in extended trading.</p><p><blockquote>苹果股价在盘后交易中一度上涨超过4%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p><blockquote></blockquote></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p><blockquote>苹果报告称，其每个产品类别都实现了两位数的增长，其最重要的产品线iPhone比去年增长了65.5%。其Mac和iPad销量表现更好，电脑销量同比增长70.1%，iPad销量同比增长近79%。</blockquote></p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p><blockquote>苹果表示，将把股息提高7%至每股0.22美元，并授权900亿美元的股票回购，这明显高于去年的500亿美元支出和2019年的750亿美元。</blockquote></p><p>Here’s how Apple did versus Refinitiv estimates:</p><p><blockquote>以下是苹果与Refinitiv估计的表现：</blockquote></p><p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p><blockquote><ul><li><b>EPS</b>：1.40美元对比。估计0.99美元</li><li><b>收入</b>：895.8亿美元对比。预计773.6亿美元，同比增长53.7%</li><li><b>iPhone收入</b>：479.4亿美元对比。预计为414.3亿美元，同比增长65.5%</li><li><b>服务收入</b>：169亿美元vs.预计155.7亿美元，同比增长26.7%</li><li><b>其他产品收益</b>：78.3亿美元对比。预计77.9亿美元，同比增长24%</li><li><b>Mac收入</b>：91亿美元vs.预计68.6亿美元，同比增长70.1%</li><li><b>iPad收入</b>：78亿美元vs.预计55.8亿美元，同比增长78.9%</li><li><b>毛利率</b>：42.5%vs.估计值39.8%</li></ul>苹果没有就截至6月份的季度的预期发布官方指引。自疫情开始以来，该公司一直没有提供收入指引，理由是存在不确定性。这是苹果连续第二个季度在所有产品类别中实现两位数增长。苹果首席财务官Luca Maestri告诉分析师，该公司预计6月份季度的收入将同比增长两位数，尽管由于全球芯片短缺，该公司面临一些供应短缺。</blockquote></p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p><blockquote>苹果在过去几个月表示，随着消费者和企业购买电脑在家工作和娱乐，其业务受到了疫情的提振。但苹果本季度的强劲业绩表明，随着更多经济体的开放，这一趋势可能会持续下去。</blockquote></p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p><blockquote>或者，正如苹果首席执行官蒂姆·库克(Tim Cook)在一份声明中所说：“本季度既反映了我们的产品帮助用户在自己的生活中迎接这一时刻的持久方式，也反映了消费者似乎对所有人未来更好的日子感到乐观。我们。”</blockquote></p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p><blockquote>Mac的销量增长了70%，库克表示，这一结果是由该公司推出的Mac笔记本电脑“推动”的，这些笔记本电脑使用了自己的M1芯片，电池寿命更长，而不是英特尔销售的处理器，iPad的销量同比增长了近79%。</blockquote></p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p><blockquote>这两个结果都不包括该公司3月份宣布的iPad Pro或iMac型号，预计这些型号将推动额外需求。</blockquote></p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p><blockquote>库克对CNBC的乔什·利普顿(Josh Lipton)表示：“我们看到Mac的首次购买者数量强劲……这一比例继续略低于50%。”“而且，在中国，这个数字甚至更高……大约是三分之二。这表明人们更喜欢在Mac上工作。”</blockquote></p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p><blockquote>苹果的iPhone本季度也公布了强劲的业绩，平息了人们对当前年度周期可能放缓的担忧。去年，苹果发布了具有新外观设计和5G支持的iPhone，许多投资者认为这可能会引发一个重大升级周期，本季度的业绩表明了这一点。</blockquote></p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><blockquote>在包括大陆、香港和台湾在内的大中华区，苹果的收入同比增长超过87%，达到177.3亿美元，尽管相比之下，去年中国在疫情初期基本上处于关闭状态。其他所有地理类别，包括美洲和欧洲，也同比增长。</blockquote></p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p><blockquote>苹果的高利润服务业务，包括iCloud、App Store和苹果音乐等订阅业务，也实现了26.7%的增长。</blockquote></p><p></p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p><blockquote>苹果用来显示服务增长的一个指标是其订阅数量，其中不仅包括苹果One等自有订阅，还包括通过其App Store进行的订阅。</blockquote></p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p><blockquote>库克对CNBC表示：“我们平台上的服务现在有超过6.6亿付费订阅，比上一季度增加了4000万，比3500万有所增长。”</blockquote></p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p><blockquote>然而，苹果的应用商店受到了立法者和公司的挑战，他们说它成本太高，权力太大。堡垒之夜制造商Epic Games就App Store政策进行的备受关注的审判将于下周开始。</blockquote></p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p><blockquote>“App Store是一个经济奇迹。据估计，去年有超过5000亿美元的经济活动因为这个商店。所以，这不仅是美国的经济游戏规则改变者，也是世界上几个国家的经济规则改变者。我们将走进去讲述我们的故事。我们会看到它会走向何方。但是，我们有信心，”库克告诉CNBC。</blockquote></p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p><p><blockquote>苹果的毛利率也异常高。大多数季度，利润率往往在38%至39%之间，但在截至3月份的季度，苹果报告利润率为42.5%。</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>Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</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 reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-29 07:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p><blockquote><ul><li>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</li><li>苹果没有就截至6月份的季度的预期发布官方指引。</li><li>苹果授权900亿美元的股票回购。</li></ul>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</blockquote></p><p>Apple stock rose over 4% at one point in extended trading.</p><p><blockquote>苹果股价在盘后交易中一度上涨超过4%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p><blockquote></blockquote></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p><blockquote>苹果报告称，其每个产品类别都实现了两位数的增长，其最重要的产品线iPhone比去年增长了65.5%。其Mac和iPad销量表现更好，电脑销量同比增长70.1%，iPad销量同比增长近79%。</blockquote></p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p><blockquote>苹果表示，将把股息提高7%至每股0.22美元，并授权900亿美元的股票回购，这明显高于去年的500亿美元支出和2019年的750亿美元。</blockquote></p><p>Here’s how Apple did versus Refinitiv estimates:</p><p><blockquote>以下是苹果与Refinitiv估计的表现：</blockquote></p><p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p><blockquote><ul><li><b>EPS</b>：1.40美元对比。估计0.99美元</li><li><b>收入</b>：895.8亿美元对比。预计773.6亿美元，同比增长53.7%</li><li><b>iPhone收入</b>：479.4亿美元对比。预计为414.3亿美元，同比增长65.5%</li><li><b>服务收入</b>：169亿美元vs.预计155.7亿美元，同比增长26.7%</li><li><b>其他产品收益</b>：78.3亿美元对比。预计77.9亿美元，同比增长24%</li><li><b>Mac收入</b>：91亿美元vs.预计68.6亿美元，同比增长70.1%</li><li><b>iPad收入</b>：78亿美元vs.预计55.8亿美元，同比增长78.9%</li><li><b>毛利率</b>：42.5%vs.估计值39.8%</li></ul>苹果没有就截至6月份的季度的预期发布官方指引。自疫情开始以来，该公司一直没有提供收入指引，理由是存在不确定性。这是苹果连续第二个季度在所有产品类别中实现两位数增长。苹果首席财务官Luca Maestri告诉分析师，该公司预计6月份季度的收入将同比增长两位数，尽管由于全球芯片短缺，该公司面临一些供应短缺。</blockquote></p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p><blockquote>苹果在过去几个月表示，随着消费者和企业购买电脑在家工作和娱乐，其业务受到了疫情的提振。但苹果本季度的强劲业绩表明，随着更多经济体的开放，这一趋势可能会持续下去。</blockquote></p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p><blockquote>或者，正如苹果首席执行官蒂姆·库克(Tim Cook)在一份声明中所说：“本季度既反映了我们的产品帮助用户在自己的生活中迎接这一时刻的持久方式，也反映了消费者似乎对所有人未来更好的日子感到乐观。我们。”</blockquote></p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p><blockquote>Mac的销量增长了70%，库克表示，这一结果是由该公司推出的Mac笔记本电脑“推动”的，这些笔记本电脑使用了自己的M1芯片，电池寿命更长，而不是英特尔销售的处理器，iPad的销量同比增长了近79%。</blockquote></p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p><blockquote>这两个结果都不包括该公司3月份宣布的iPad Pro或iMac型号，预计这些型号将推动额外需求。</blockquote></p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p><blockquote>库克对CNBC的乔什·利普顿(Josh Lipton)表示：“我们看到Mac的首次购买者数量强劲……这一比例继续略低于50%。”“而且，在中国，这个数字甚至更高……大约是三分之二。这表明人们更喜欢在Mac上工作。”</blockquote></p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p><blockquote>苹果的iPhone本季度也公布了强劲的业绩，平息了人们对当前年度周期可能放缓的担忧。去年，苹果发布了具有新外观设计和5G支持的iPhone，许多投资者认为这可能会引发一个重大升级周期，本季度的业绩表明了这一点。</blockquote></p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><blockquote>在包括大陆、香港和台湾在内的大中华区，苹果的收入同比增长超过87%，达到177.3亿美元，尽管相比之下，去年中国在疫情初期基本上处于关闭状态。其他所有地理类别，包括美洲和欧洲，也同比增长。</blockquote></p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p><blockquote>苹果的高利润服务业务，包括iCloud、App Store和苹果音乐等订阅业务，也实现了26.7%的增长。</blockquote></p><p></p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p><blockquote>苹果用来显示服务增长的一个指标是其订阅数量，其中不仅包括苹果One等自有订阅，还包括通过其App Store进行的订阅。</blockquote></p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p><blockquote>库克对CNBC表示：“我们平台上的服务现在有超过6.6亿付费订阅，比上一季度增加了4000万，比3500万有所增长。”</blockquote></p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p><blockquote>然而，苹果的应用商店受到了立法者和公司的挑战，他们说它成本太高，权力太大。堡垒之夜制造商Epic Games就App Store政策进行的备受关注的审判将于下周开始。</blockquote></p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p><blockquote>“App Store是一个经济奇迹。据估计，去年有超过5000亿美元的经济活动因为这个商店。所以，这不仅是美国的经济游戏规则改变者，也是世界上几个国家的经济规则改变者。我们将走进去讲述我们的故事。我们会看到它会走向何方。但是，我们有信心，”库克告诉CNBC。</blockquote></p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p><p><blockquote>苹果的毛利率也异常高。大多数季度，利润率往往在38%至39%之间，但在截至3月份的季度，苹果报告利润率为42.5%。</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":"1137964402","content_text":"KEY POINTSApple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales did better, with its computers up 70.1% and iPad sales growing nearly 79% on an annual basis.Apple said it would increase its dividend by 7% to $0.22 per share and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay and 2019′s $75 billion.Here’s how Apple did versus Refinitiv estimates:EPS: $1.40 vs. $0.99 estimatedRevenue: $89.58 billion vs. $77.36 billion estimated, up 53.7% year-over-yeariPhone revenue: $47.94 billion vs. $41.43 billion estimated, up 65.5% year-over-yearServices revenue: $16.90 billion vs. $15.57 billion estimated, up 26.7% year over yearOther Products revenue: $7.83 billion vs. $7.79 billion estimated, up 24% year-over-yearMac revenue: $9.10 billion vs. $6.86 billion estimated, up 70.1% year-over-yeariPad revenue: $7.80 billion vs. $5.58 billion estimated, up 78.9% year-over-yearGross margin: 42.5% vs. 39.8% estimatedApple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue guidance since the start of the pandemic, citing uncertainty. This is Apple’s second quarter in a row with double-digit growth in all product categories. Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.Apple has said in the past months that its business has been boosted by the pandemic as consumers and businesses bought computers to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies open up.Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us.”Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac laptops that used its own M1 chips for longer battery life, instead of processors sold by Intel. iPad sales were up nearly 79% year-over-year.Neither of those results include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.“We’re seeing strong first-time buyers on the Mac … it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that … it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.In greater China, which includes the mainland, Hong Kong, and Taiwan, Apple’s revenue increased over 87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic. Every other geographical category, including the Americas and Europe, were also up on an annual basis.Apple’s high-margin services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372297430,"gmtCreate":1619219180120,"gmtModify":1634287740334,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/372297430","repostId":"1101099559","repostType":4,"repost":{"id":"1101099559","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":1619191663,"share":"https://www.laohu8.com/m/news/1101099559?lang=zh_CN&edition=full","pubTime":"2021-04-23 23:27","market":"us","language":"en","title":"Dow rebounds 200 points led by banks and tech as market shrugs off higher tax fears<blockquote>由于市场摆脱了税收上涨的担忧，道琼斯指数在银行和科技股的带领下反弹200点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101099559","media":"Tiger Newspress","summary":"U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White ","content":"<p>U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.</p><p><blockquote>美国股市周五反弹，华尔街重新评估了白宫可能寻求提高资本利得税的消息引发的担忧。</blockquote></p><p>The Dow Jones Industrial Average gained 200 points amid a jump in Goldman Sachs and Apple shares. The S&amp;P 500 rose 1% led by financials and technology shares, while the tech-heavy Nasdaq Composite climbed 1.2%.</p><p><blockquote>由于高盛和苹果股价上涨，道琼斯工业平均指数上涨200点。在金融和科技股的带动下，标普500上涨1%，而以科技股为主的纳斯达克综合指数上涨1.2%。</blockquote></p><p>Wall Street came off a turbulent session for equities after multiple news outlets reported Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich.</p><p><blockquote>周四下午，多家新闻媒体报道称，总统乔·拜登将提议对富人征收更高的资本利得税，华尔街股市经历了动荡的交易日。</blockquote></p><p>Bloomberg News reported that Biden is planning a&nbsp;capital gains tax hike to as high as 43.4%&nbsp;for wealthy Americans.</p><p><blockquote>彭博新闻社报道称，拜登正计划将美国富人的资本利得税提高至高达43.4%。</blockquote></p><p>The proposal would hike the capital gains rate to 39.6% for&nbsp;those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter. Reuters and the New York Times later also reported similar stories.</p><p><blockquote>据彭博新闻社援引知情人士的话报道，该提案将把收入100万美元或以上的人的资本利得税率从目前的20%提高到39.6%。路透社和《纽约时报》后来也报道了类似的故事。</blockquote></p><p>“We expect Congress will pass a scaled back version of this tax increase,” wrote Goldman Sachs economists in a note. “We expect Congress will settle on a more modest increase, potentially around 28%.”</p><p><blockquote>高盛经济学家在一份报告中写道：“我们预计国会将通过此次增税的缩减版本。”“我们预计国会将决定更温和的增幅，可能在28%左右。”</blockquote></p><p>Week to date, the three major averages are all down about 1%.</p><p><blockquote>本周迄今为止，三大股指均下跌约1%。</blockquote></p><p>Intel shares dropped more than 5% after it issued second-quarter earnings guidance&nbsp;below analysts’ hopes. American Express fell over 4% after the credit card company reported quarterly revenue that was slightly short of forecasts.</p><p><blockquote>英特尔发布低于分析师预期的第二季度盈利指引后，股价下跌超过5%。美国运通(American Express)公布季度收入略低于预期，股价下跌超过4%。</blockquote></p><p>Snap shares, meanwhile, jumped 9% after it said&nbsp;it saw accelerating revenue growth and strong user numbers during the first quarter. Snap broke even on the bottom line while posting revenue of $770 million.</p><p><blockquote>与此同时，Snap表示第一季度收入增长加速，用户数量强劲，该公司股价上涨9%。Snap实现了盈亏平衡，营收为7.7亿美元。</blockquote></p><p>Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. Still, strong first-quarter results have been met with a more tepid response from investors, who have not, to date, snapped up shares of companies with some of the best results.</p><p><blockquote>迄今为止，企业在财报季中大多成功超出了华尔街的预期。尽管如此，投资者对第一季度强劲的业绩反应却较为冷淡，迄今为止，投资者尚未抢购业绩最好的公司的股票。</blockquote></p><p>Strategists say already-high valuations and near-record-high levels on the S&amp;P 500 and Dow have kept traders’ enthusiasm in check. But indexes are within 1.5% of their all-time highs even after Thursday’s losses.</p><p><blockquote>策略师表示，标普500和道指已经很高的估值以及接近历史新高的水平抑制了交易员的热情。但即使在周四下跌之后，指数仍与历史高点相差不到1.5%。</blockquote></p><p>Bitcoin&nbsp;plunged overnight, perhaps in part because of concerns about higher capital gains taxes, with the cryptocurrency last down about 8%, according to CoinMetrics. Other cryptocurrencies like Ethereum were also getting hit. So far, the sell-off there was not spilling over into other risk assets like equities.</p><p><blockquote>根据CoinMetrics的数据，比特币隔夜暴跌，部分原因可能是对更高资本利得税的担忧，该加密货币最近下跌了约8%。以太币等其他加密货币也受到了打击。到目前为止，那里的抛售还没有蔓延到股票等其他风险资产。</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>Dow rebounds 200 points led by banks and tech as market shrugs off higher tax fears<blockquote>由于市场摆脱了税收上涨的担忧，道琼斯指数在银行和科技股的带领下反弹200点</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow rebounds 200 points led by banks and tech as market shrugs off higher tax fears<blockquote>由于市场摆脱了税收上涨的担忧，道琼斯指数在银行和科技股的带领下反弹200点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-23 23:27</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.</p><p><blockquote>美国股市周五反弹，华尔街重新评估了白宫可能寻求提高资本利得税的消息引发的担忧。</blockquote></p><p>The Dow Jones Industrial Average gained 200 points amid a jump in Goldman Sachs and Apple shares. The S&amp;P 500 rose 1% led by financials and technology shares, while the tech-heavy Nasdaq Composite climbed 1.2%.</p><p><blockquote>由于高盛和苹果股价上涨，道琼斯工业平均指数上涨200点。在金融和科技股的带动下，标普500上涨1%，而以科技股为主的纳斯达克综合指数上涨1.2%。</blockquote></p><p>Wall Street came off a turbulent session for equities after multiple news outlets reported Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich.</p><p><blockquote>周四下午，多家新闻媒体报道称，总统乔·拜登将提议对富人征收更高的资本利得税，华尔街股市经历了动荡的交易日。</blockquote></p><p>Bloomberg News reported that Biden is planning a&nbsp;capital gains tax hike to as high as 43.4%&nbsp;for wealthy Americans.</p><p><blockquote>彭博新闻社报道称，拜登正计划将美国富人的资本利得税提高至高达43.4%。</blockquote></p><p>The proposal would hike the capital gains rate to 39.6% for&nbsp;those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter. Reuters and the New York Times later also reported similar stories.</p><p><blockquote>据彭博新闻社援引知情人士的话报道，该提案将把收入100万美元或以上的人的资本利得税率从目前的20%提高到39.6%。路透社和《纽约时报》后来也报道了类似的故事。</blockquote></p><p>“We expect Congress will pass a scaled back version of this tax increase,” wrote Goldman Sachs economists in a note. “We expect Congress will settle on a more modest increase, potentially around 28%.”</p><p><blockquote>高盛经济学家在一份报告中写道：“我们预计国会将通过此次增税的缩减版本。”“我们预计国会将决定更温和的增幅，可能在28%左右。”</blockquote></p><p>Week to date, the three major averages are all down about 1%.</p><p><blockquote>本周迄今为止，三大股指均下跌约1%。</blockquote></p><p>Intel shares dropped more than 5% after it issued second-quarter earnings guidance&nbsp;below analysts’ hopes. American Express fell over 4% after the credit card company reported quarterly revenue that was slightly short of forecasts.</p><p><blockquote>英特尔发布低于分析师预期的第二季度盈利指引后，股价下跌超过5%。美国运通(American Express)公布季度收入略低于预期，股价下跌超过4%。</blockquote></p><p>Snap shares, meanwhile, jumped 9% after it said&nbsp;it saw accelerating revenue growth and strong user numbers during the first quarter. Snap broke even on the bottom line while posting revenue of $770 million.</p><p><blockquote>与此同时，Snap表示第一季度收入增长加速，用户数量强劲，该公司股价上涨9%。Snap实现了盈亏平衡，营收为7.7亿美元。</blockquote></p><p>Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. Still, strong first-quarter results have been met with a more tepid response from investors, who have not, to date, snapped up shares of companies with some of the best results.</p><p><blockquote>迄今为止，企业在财报季中大多成功超出了华尔街的预期。尽管如此，投资者对第一季度强劲的业绩反应却较为冷淡，迄今为止，投资者尚未抢购业绩最好的公司的股票。</blockquote></p><p>Strategists say already-high valuations and near-record-high levels on the S&amp;P 500 and Dow have kept traders’ enthusiasm in check. But indexes are within 1.5% of their all-time highs even after Thursday’s losses.</p><p><blockquote>策略师表示，标普500和道指已经很高的估值以及接近历史新高的水平抑制了交易员的热情。但即使在周四下跌之后，指数仍与历史高点相差不到1.5%。</blockquote></p><p>Bitcoin&nbsp;plunged overnight, perhaps in part because of concerns about higher capital gains taxes, with the cryptocurrency last down about 8%, according to CoinMetrics. Other cryptocurrencies like Ethereum were also getting hit. So far, the sell-off there was not spilling over into other risk assets like equities.</p><p><blockquote>根据CoinMetrics的数据，比特币隔夜暴跌，部分原因可能是对更高资本利得税的担忧，该加密货币最近下跌了约8%。以太币等其他加密货币也受到了打击。到目前为止，那里的抛售还没有蔓延到股票等其他风险资产。</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","SNAP":"Snap Inc","INTC":"英特尔"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101099559","content_text":"U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.The Dow Jones Industrial Average gained 200 points amid a jump in Goldman Sachs and Apple shares. The S&P 500 rose 1% led by financials and technology shares, while the tech-heavy Nasdaq Composite climbed 1.2%.Wall Street came off a turbulent session for equities after multiple news outlets reported Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich.Bloomberg News reported that Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans.The proposal would hike the capital gains rate to 39.6% for those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter. Reuters and the New York Times later also reported similar stories.“We expect Congress will pass a scaled back version of this tax increase,” wrote Goldman Sachs economists in a note. “We expect Congress will settle on a more modest increase, potentially around 28%.”Week to date, the three major averages are all down about 1%.Intel shares dropped more than 5% after it issued second-quarter earnings guidance below analysts’ hopes. American Express fell over 4% after the credit card company reported quarterly revenue that was slightly short of forecasts.Snap shares, meanwhile, jumped 9% after it said it saw accelerating revenue growth and strong user numbers during the first quarter. Snap broke even on the bottom line while posting revenue of $770 million.Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. Still, strong first-quarter results have been met with a more tepid response from investors, who have not, to date, snapped up shares of companies with some of the best results.Strategists say already-high valuations and near-record-high levels on the S&P 500 and Dow have kept traders’ enthusiasm in check. But indexes are within 1.5% of their all-time highs even after Thursday’s losses.Bitcoin plunged overnight, perhaps in part because of concerns about higher capital gains taxes, with the cryptocurrency last down about 8%, according to CoinMetrics. Other cryptocurrencies like Ethereum were also getting hit. So far, the sell-off there was not spilling over into other risk assets like 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and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/375884236","repostId":"2129610673","repostType":4,"isVote":1,"tweetType":1,"viewCount":1486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371422097,"gmtCreate":1618966944919,"gmtModify":1634289561813,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/371422097","repostId":"1123133666","repostType":4,"isVote":1,"tweetType":1,"viewCount":1366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346184827,"gmtCreate":1618014579069,"gmtModify":1634295257047,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/346184827","repostId":"2126333180","repostType":4,"isVote":1,"tweetType":1,"viewCount":786,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349030592,"gmtCreate":1617503084116,"gmtModify":1634520760371,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/349030592","repostId":"1191998262","repostType":4,"repost":{"id":"1191998262","kind":"news","pubTimestamp":1617366158,"share":"https://www.laohu8.com/m/news/1191998262?lang=zh_CN&edition=full","pubTime":"2021-04-02 20:22","market":"us","language":"en","title":"How Likely Is a Stock Market Crash?<blockquote>股市崩盘的可能性有多大？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191998262","media":"Motley Fool","summary":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-b","content":"<p>  You may not like the answer.  For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p><p><blockquote>你可能不喜欢这个答案。在过去的一年里，投资者享受了有史以来最大的反弹之一。基准后<b>标普500</b>由于围绕冠状病毒大流行的前所未有的不确定性，(SNPINDEX：^GSPC)在短短几周内就损失了三分之一的价值，但随后反弹至较低点上涨了75%左右。你可以正确地说，耐心得到了回报。</blockquote></p><p> But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p><p><blockquote>但投资者——尤其是长期投资者——敏锐地意识到了另一个现实：股市崩盘或调整的倾向。现在情况可能看起来很好，但下一次大幅暴跌总是在等待。</blockquote></p><p> It begs the question: How likely is astock market crash? Let's take a closer look.</p><p><blockquote>这就引出了一个问题：股市崩盘的可能性有多大？让我们仔细看看。</blockquote></p><p> <b>Double-digit declines occur every 1.87 years, on average</b></p><p><blockquote><b>平均每1.87年出现两位数的下降</b></blockquote></p><p> To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p><p><blockquote>首先，股市调整（即至少下跌10%）在标普500中很常见。根据市场分析公司Yardeni Research的数据，自1950年初以来，标普500已经出现了38次回调。这意味着基准指数平均每1.87年下降两位数。由于距离市场触及熊市底部已经一年多了，平均水平肯定不会受到投资者的青睐。</blockquote></p><p> However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p><p><blockquote>然而，平均值不过如此...平均值。市场并不遵循平均水平，即使有些人根据历史上发生的事情进行投资。</blockquote></p><p> We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p><p><blockquote>我们可能会进入一个类似于1991年到1996年的时期，那里的修正为零。或者我们可以延续2010年初以来的主题，平均每19个月就会出现一次修正。</blockquote></p><p> <b>Corrections have been an historical given within three years of a bear market bottom</b></p><p><blockquote><b>在熊市触底后的三年内，调整是历史性的</b></blockquote></p><p> Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p><p><blockquote>另一个值得研究的有趣证据是标普500在触及熊市底部后修正的频率。</blockquote></p><p> Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p><p><blockquote>自1960年初（为了简单起见，我随意选择了一年）以来，这个广受关注的指数已经经历了九次熊市，包括冠状病毒崩盘。在从之前八次熊市低点反弹的过程中，100%的情况下，三年内至少有一次两位数的百分比下跌。在过去八次熊市底部之后的三年内，总共发生了13次调整（即每次底部之后都有一次或两次）。</blockquote></p><p> Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p><p><blockquote>换句话说，从熊市底部反弹很少是直线走高。然而，自2020年3月23日以来，上涨、上涨和离开几乎一直是投资者的主题。历史表明，未来两年内股市很有可能走低。</blockquote></p><p> <b>Crashes frequently occur when this valuation metric is hit</b></p><p><blockquote><b>当达到这个估值指标时，经常会发生崩溃</b></blockquote></p><p> But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p><p><blockquote>但最确凿的证据可能是标普500的席勒市盈率（P/E）。这是一个估值指标，考察过去10年经通胀调整后的平均收益。你可能也知道它是周期性调整市盈率，或CAPE。</blockquote></p><p> As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p><p><blockquote>截至3月30日收盘，标普500的席勒市盈率达到35.61。这是150年来平均水平16.8的两倍多。以持续的牛市走势为参数，这是其历史上第二高的读数。</blockquote></p><p> To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p><p><blockquote>在某种程度上，现在的股票估值应该高于历史水平是有道理的。这是因为利率接近历史低点，而且互联网接入有效地打破了华尔街和主街之间的障碍，这些障碍在过去可能会阻碍市盈率倍数。</blockquote></p><p> However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p><p><blockquote>然而，此前标普500席勒市盈率突破并维持在30水平的情况并没有得到很好的结局。在之前四次席勒市盈率超过并保持在30以上的情况下，基准指数下跌了20%至89%。尽管如今不太可能出现大萧条期间经历的89%的暴跌，但从历史上看，当估值延长时，就有可能出现大幅下跌，就像现在一样。</blockquote></p><p> <b>Keep that cash handy in the event that opportunity knocks</b></p><p><blockquote><b>将现金放在手边，以防机会来袭</b></blockquote></p><p> To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p><p><blockquote>回到手头的最初问题，数据非常清楚地表明，股市崩盘或调整的可能性已经大大增加。不可能准确预测崩盘何时可能发生，下跌将持续多长时间，或者下跌幅度有多大。但数据强烈表明下行趋势即将到来。</blockquote></p><p> While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p><p><blockquote>虽然这对一些投资者来说可能是一个令人失望的发现，但事实并非如此。崩盘和调整是投资周期的正常部分。更重要的是，它们为投资者提供了以折扣价购买伟大公司的机会。想想去年三月你可能会因为没有购买而自责的所有伟大公司。</blockquote></p><p></p><p> The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p><p><blockquote>对崩溃和修正感到兴奋的原因也可以在数据中找到。你看，自1950年初以来的38次标普500调整中，每一次最终都被牛市反弹抛到了后视镜中。此外，在过去的一个世纪里，标普500的20年滚动总回报率（包括股息）从未为负。</blockquote></p><p> If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</p><p><blockquote>如果您在调整期间需要进一步鼓励买入，请记住，标普500 38次两位数下跌中有24次是在104个或更短的日历日（3.5个月或更短）内触底的。崩溃和修正有时可能很剧烈，但往往会很快解决。这是你在机会来临时准备好现金的提示。</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>How Likely Is a Stock Market Crash?<blockquote>股市崩盘的可能性有多大？</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\">\nHow Likely Is a Stock Market Crash?<blockquote>股市崩盘的可能性有多大？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-04-02 20:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  You may not like the answer.  For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p><p><blockquote>你可能不喜欢这个答案。在过去的一年里，投资者享受了有史以来最大的反弹之一。基准后<b>标普500</b>由于围绕冠状病毒大流行的前所未有的不确定性，(SNPINDEX：^GSPC)在短短几周内就损失了三分之一的价值，但随后反弹至较低点上涨了75%左右。你可以正确地说，耐心得到了回报。</blockquote></p><p> But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p><p><blockquote>但投资者——尤其是长期投资者——敏锐地意识到了另一个现实：股市崩盘或调整的倾向。现在情况可能看起来很好，但下一次大幅暴跌总是在等待。</blockquote></p><p> It begs the question: How likely is astock market crash? Let's take a closer look.</p><p><blockquote>这就引出了一个问题：股市崩盘的可能性有多大？让我们仔细看看。</blockquote></p><p> <b>Double-digit declines occur every 1.87 years, on average</b></p><p><blockquote><b>平均每1.87年出现两位数的下降</b></blockquote></p><p> To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p><p><blockquote>首先，股市调整（即至少下跌10%）在标普500中很常见。根据市场分析公司Yardeni Research的数据，自1950年初以来，标普500已经出现了38次回调。这意味着基准指数平均每1.87年下降两位数。由于距离市场触及熊市底部已经一年多了，平均水平肯定不会受到投资者的青睐。</blockquote></p><p> However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p><p><blockquote>然而，平均值不过如此...平均值。市场并不遵循平均水平，即使有些人根据历史上发生的事情进行投资。</blockquote></p><p> We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p><p><blockquote>我们可能会进入一个类似于1991年到1996年的时期，那里的修正为零。或者我们可以延续2010年初以来的主题，平均每19个月就会出现一次修正。</blockquote></p><p> <b>Corrections have been an historical given within three years of a bear market bottom</b></p><p><blockquote><b>在熊市触底后的三年内，调整是历史性的</b></blockquote></p><p> Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p><p><blockquote>另一个值得研究的有趣证据是标普500在触及熊市底部后修正的频率。</blockquote></p><p> Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p><p><blockquote>自1960年初（为了简单起见，我随意选择了一年）以来，这个广受关注的指数已经经历了九次熊市，包括冠状病毒崩盘。在从之前八次熊市低点反弹的过程中，100%的情况下，三年内至少有一次两位数的百分比下跌。在过去八次熊市底部之后的三年内，总共发生了13次调整（即每次底部之后都有一次或两次）。</blockquote></p><p> Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p><p><blockquote>换句话说，从熊市底部反弹很少是直线走高。然而，自2020年3月23日以来，上涨、上涨和离开几乎一直是投资者的主题。历史表明，未来两年内股市很有可能走低。</blockquote></p><p> <b>Crashes frequently occur when this valuation metric is hit</b></p><p><blockquote><b>当达到这个估值指标时，经常会发生崩溃</b></blockquote></p><p> But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p><p><blockquote>但最确凿的证据可能是标普500的席勒市盈率（P/E）。这是一个估值指标，考察过去10年经通胀调整后的平均收益。你可能也知道它是周期性调整市盈率，或CAPE。</blockquote></p><p> As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p><p><blockquote>截至3月30日收盘，标普500的席勒市盈率达到35.61。这是150年来平均水平16.8的两倍多。以持续的牛市走势为参数，这是其历史上第二高的读数。</blockquote></p><p> To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p><p><blockquote>在某种程度上，现在的股票估值应该高于历史水平是有道理的。这是因为利率接近历史低点，而且互联网接入有效地打破了华尔街和主街之间的障碍，这些障碍在过去可能会阻碍市盈率倍数。</blockquote></p><p> However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p><p><blockquote>然而，此前标普500席勒市盈率突破并维持在30水平的情况并没有得到很好的结局。在之前四次席勒市盈率超过并保持在30以上的情况下，基准指数下跌了20%至89%。尽管如今不太可能出现大萧条期间经历的89%的暴跌，但从历史上看，当估值延长时，就有可能出现大幅下跌，就像现在一样。</blockquote></p><p> <b>Keep that cash handy in the event that opportunity knocks</b></p><p><blockquote><b>将现金放在手边，以防机会来袭</b></blockquote></p><p> To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p><p><blockquote>回到手头的最初问题，数据非常清楚地表明，股市崩盘或调整的可能性已经大大增加。不可能准确预测崩盘何时可能发生，下跌将持续多长时间，或者下跌幅度有多大。但数据强烈表明下行趋势即将到来。</blockquote></p><p> While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p><p><blockquote>虽然这对一些投资者来说可能是一个令人失望的发现，但事实并非如此。崩盘和调整是投资周期的正常部分。更重要的是，它们为投资者提供了以折扣价购买伟大公司的机会。想想去年三月你可能会因为没有购买而自责的所有伟大公司。</blockquote></p><p></p><p> The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p><p><blockquote>对崩溃和修正感到兴奋的原因也可以在数据中找到。你看，自1950年初以来的38次标普500调整中，每一次最终都被牛市反弹抛到了后视镜中。此外，在过去的一个世纪里，标普500的20年滚动总回报率（包括股息）从未为负。</blockquote></p><p> If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</p><p><blockquote>如果您在调整期间需要进一步鼓励买入，请记住，标普500 38次两位数下跌中有24次是在104个或更短的日历日（3.5个月或更短）内触底的。崩溃和修正有时可能很剧烈，但往往会很快解决。这是你在机会来临时准备好现金的提示。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/\">Motley Fool</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":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191998262","content_text":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.\nBut there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.\nIt begs the question: How likely is astock market crash? Let's take a closer look.\nDouble-digit declines occur every 1.87 years, on average\nTo begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.\nHowever, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.\nWe could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.\nCorrections have been an historical given within three years of a bear market bottom\nAnother interesting piece of evidence to examine is the frequency by which the S&P 500 corrects after hitting a bear-market bottom.\nSince the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).\nPut another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.\nCrashes frequently occur when this valuation metric is hit\nBut the most damning bit of evidence might just be the S&P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.\nAs of the close of business on March 30, the S&P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.\nTo some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.\nHowever, previous instances of the S&P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.\nKeep that cash handy in the event that opportunity knocks\nTo circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.\nWhile this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.\nThe reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&P 500 been negative.\nIf you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":444,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376759802,"gmtCreate":1619151245907,"gmtModify":1634288156012,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/376759802","repostId":"1141178573","repostType":4,"isVote":1,"tweetType":1,"viewCount":2614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371004707,"gmtCreate":1618889215009,"gmtModify":1634290113455,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/371004707","repostId":"1129471770","repostType":4,"repost":{"id":"1129471770","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1618793935,"share":"https://www.laohu8.com/m/news/1129471770?lang=zh_CN&edition=full","pubTime":"2021-04-19 08:58","market":"us","language":"en","title":"IPO Preview: UiPath Inc, KnowBe4, Zymergen, Latham Holdings Highlight Busy Week Of Offerings<blockquote>IPO预览：UiPath Inc、KnowBe4、Zymergen、Latham Holdings重点介绍繁忙的一周发行</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129471770","media":"Benzinga","summary":"This week’s offerings don’t have quite the same high profile as last week's highly anticipated IPO o","content":"<p>This week’s offerings don’t have quite the same high profile as last week's highly anticipated IPO of<b>Coinbase Global</b>COIN 5.96%. Nevertheless, there are several excitingIPOsthat investors should consider this week, including UiPath and Latham Holdings.</p><p><blockquote>本周的发行不像上周备受期待的IPO那样引人注目<b>比特币基地全球</b>硬币5.96%。尽管如此，投资者本周应该考虑几个令人兴奋的IPO，包括UiPath和Latham Holdings。</blockquote></p><p>Here is a look at the expected IPO pricings for the week of April 19.</p><p><blockquote>以下是4月19日当周的预期IPO定价。</blockquote></p><p><b>DoubleVerify Holdings:</b>&nbsp;Digital media measurement and analytics company<b>DoubleVerify Holdings</b>&nbsp;NYSE:&nbsp;DV&nbsp;plansto sell 13.3 million shares at a price point of $24 to $27.</p><p><blockquote><b>DoubleVerify控股：</b>数字媒体测量和分析公司<b>双验证控股</b>纽约证券交易所股票代码：DV计划以24至27美元的价格出售1,330万股股票。</blockquote></p><p>The company makes security software for digital advertising and claims to have over 1,000 advertisers and publishers as partners, and more than 45 customers that each account for $1 million in annual revenue for DoubleVerify.</p><p><blockquote>该公司为数字广告生产安全软件，并声称有超过1,000家广告商和出版商作为合作伙伴，以及超过45家客户，每个客户为DoubleVerify贡献了100万美元的年收入。</blockquote></p><p>The company had revenue of $244 million in fiscal 2020, a year-over-year increase of 34%.</p><p><blockquote>该公司2020财年营收2.44亿美元，同比增长34%。</blockquote></p><p><b>NeuroPace:</b>&nbsp;Commercial-stage medical device company<b>NeuroPace</b>&nbsp;NASDAQ:&nbsp;NPCE&nbsp;says it&nbsp;hasthe first and only commercially-available, brain-responsive system to help fight seizures.</p><p><blockquote><b>神经空间：</b>商业化阶段医疗器械公司<b>神经空间</b>纳斯达克：NPCE表示，它拥有第一个也是唯一一个商用的大脑响应系统来帮助对抗癫痫发作。</blockquote></p><p>The company’s target market is customers who have drug-resistant epilepsy. Over 3,000 patients were&nbsp;served by the company through 2020. Neuropace had revenue of $10 million in fiscal 2020 and is guiding for fiscal 2021 revenue of between $11.1 million and $11.3 million.</p><p><blockquote>该公司的目标市场是患有耐药性癫痫的客户。截至2020年，该公司为超过3,000名患者提供了服务。Neuropace 2020财年的收入为1000万美元，预计2021财年的收入在1110万美元至1130万美元之间。</blockquote></p><p>Over $28 billion is spent annually on epilepsy care in the United States. The company plans to sell 5.3 million shares at a price point of $15 to $17.</p><p><blockquote>在美国，每年用于癫痫护理的费用超过280亿美元。该公司计划以15至17美元的价格出售530万股股票。</blockquote></p><p><b>UiPath:</b>Thebiggest IPOof the week is set to be automation company<b>UiPath Inc</b>NYSEPATH, with aplannedoffering of 21.3 million shares at a price point of $43 to $50.</p><p><blockquote><b>UiPath：</b>本周最大的IPO将是自动化公司<b>UiPath公司</b>NYSEPATH计划以43至50美元的价格发行2130万股。</blockquote></p><p>The company “makes software robots so people don’t have to be robots.” The company had annual recurring revenue of $580 million in the fiscal year ended January 31, 2021, for a growth rate of 65%.&nbsp;UiPath says it has over 7,900 customers, with over 1,000 of them paying $100,000 or more annually to the company.</p><p><blockquote>该公司“制造软件机器人，这样人们就不必成为机器人。”截至2021年1月31日的财年，该公司的年度经常性收入为5.8亿美元，增长率为65%。UiPath表示，它拥有超过7,900名客户，其中超过1,000名客户每年向该公司支付10万美元或更多。</blockquote></p><p>The company is targeting a market opportunity of $65 billion and believes its open architecture and end-to-end platform set it apart from competitors.</p><p><blockquote>该公司的目标是650亿美元的市场机会，并相信其开放式架构和端到端平台使其从竞争对手中脱颖而出。</blockquote></p><p><b>SkyWater Technology:</b>Pure-play technology foundry<b>SkyWater Technology</b>&nbsp;NASDAQ:&nbsp;SKYT&nbsp;offerssemiconductor development and manufacturing services, targeting&nbsp;customers in markets like advanced computing, aerospace, defense, automotive and IoT.</p><p><blockquote><b>SkyWater技术：</b>纯技术代工厂<b>天水科技</b>纳斯达克：SKYT提供半导体开发和制造服务，目标客户包括先进计算、航空航天、国防、汽车和物联网等市场。</blockquote></p><p>The company has 35 customers in its advanced technology services including L3Harris and<b>Microsoft Corporation</b>MSFT 0.48%. SkyWater was divested from Cypress Semiconductor in 2017. The company had revenue of $140.4 million in 2020.</p><p><blockquote>该公司的先进技术服务拥有35家客户，包括L3Harris和<b>微软公司</b>MSFT 0.48%。SkyWater于2017年从赛普拉斯半导体剥离。该公司2020年收入为1.404亿美元。</blockquote></p><p>SkyWater plans to sell 5.8 million shares at a price point of $12 to $14.</p><p><blockquote>SkyWater计划以12至14美元的价格出售580万股股票。</blockquote></p><p><b>KnowBe4:</b>Security platform<b>KnowBe4 Inc</b>&nbsp;NASDAQ:&nbsp;KNBE&nbsp;isseekingto sell 11.8 million shares at a price point of $16 to $18.</p><p><blockquote><b>已知4：</b>安全平台<b>KnowBe4公司</b>纳斯达克：KNBE正在寻求以16至18美元的价格出售1180万股股票。</blockquote></p><p>The company serves over 37,000 customers globally in markets worth $15 billion. The company had 45% revenue growth and $198 million in annual recurring revenue last year. It plans to rapidly grow its international operations, which made up 11.9% of revenue in fiscal 2020.</p><p><blockquote>该公司为全球超过37,000名客户提供服务，市场价值150亿美元。该公司去年的收入增长了45%，年度经常性收入为1.98亿美元。该公司计划快速发展其国际业务，该业务占2020财年收入的11.9%。</blockquote></p><p><b>Zymergen: \"</b>Biofacturing\" company<b>Zymergen</b>&nbsp;NASDAQ:&nbsp;ZY&nbsp;plansto sell 13.6 million shares at a price of $28 to $31.</p><p><blockquote><b>Zymergen：“</b>生物制造”公司<b>酶根</b>纳斯达克：ZY计划以28至31美元的价格出售1360万股股票。</blockquote></p><p>The company is working on bio-based products including films that could be used in rollable mobile tablet devices.</p><p><blockquote>该公司正在开发生物基产品，包括可用于可卷曲移动平板设备的薄膜。</blockquote></p><p>The company’s first product, Hyaline, was launched in December 2020, and an additional 10 products are in development. The biofacturing market is worth $1.2 trillion. according to the company.</p><p><blockquote>公司首款产品Hyaline于2020年12月上市，另有10款产品正在开发中。生物制造市场价值1.2万亿美元。据该公司称。</blockquote></p><p><b>Agiliti:</b>Healthcare service provider&nbsp;<b>Agiliti Inc</b>NYSEAGTIsays it&nbsp;hasa customer base of over 7,0000 networks and that&nbsp;90% of U.S. acute and alternate care facilities are within a 100-mile radius of an Agiliti service center. The company is seeking to sell 26.3 million shares at a price point of $18 to $20.</p><p><blockquote><b>敏捷性：</b>医疗服务提供者<b>敏捷公司</b>NYSEAGTI表示，它拥有超过7,000 0个网络的客户群，90%的美国急症和替代护理机构都在Agiliti服务中心100英里半径范围内。该公司寻求以18至20美元的价格出售2630万股股票。</blockquote></p><p><b>Latham Group:</b>A designer, manufacturer and marketer of in-ground residential pools in North America, Australia and New Zealandplansto go public this week.</p><p><blockquote><b>瑞生集团：</b>北美、澳大利亚和新西兰地下住宅泳池的设计者、制造商和营销商计划本周上市。</blockquote></p><p><b>Latham Group</b>&nbsp;NASDAQ:&nbsp;SWIM&nbsp;plans to sell 20 million shares at a price point of $19 to $21.</p><p><blockquote><b>莱瑟姆集团</b>纳斯达克：SWIM计划以19美元至21美元的价格出售2000万股股票。</blockquote></p><p>The company sells fiberglass products that are more durable and use less chemicals, according to the company. Latham sold 8,700 fiberglass pools in 2020 and reported its 11th consecutive year of net sales growth.</p><p><blockquote>据该公司称，该公司销售的玻璃纤维产品更耐用，使用的化学品更少。Latham在2020年销售了8,700个玻璃纤维泳池，并报告了连续11年净销售额增长。</blockquote></p><p>The company had revenue of $408 million in fiscal 2020, and&nbsp;59% of it came from in-ground pool sales.</p><p><blockquote>该公司2020财年的收入为4.08亿美元，其中59%来自地下泳池销售。</blockquote></p><p>In 2018, the company shifted from a business-to-business model to business-to-consumer, making it&nbsp;the only pool company with a direct relationship to the homeowner, according to the company.</p><p><blockquote>据该公司称，2018年，该公司从企业对企业模式转向企业对消费者模式，使其成为唯一一家与房主有直接关系的泳池公司。</blockquote></p><p></p><p>Fiberglass pools are still a small market in North America compared to international markets, Latham says. The company claims to have a No. 1 market-share position in all the categories it competes in for the North American market.</p><p><blockquote>莱瑟姆说，与国际市场相比，玻璃纤维泳池在北美仍然是一个小市场。该公司声称在北美市场竞争的所有类别中拥有第一的市场份额。</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>IPO Preview: UiPath Inc, KnowBe4, Zymergen, Latham Holdings Highlight Busy Week Of Offerings<blockquote>IPO预览：UiPath Inc、KnowBe4、Zymergen、Latham Holdings重点介绍繁忙的一周发行</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\">\nIPO Preview: UiPath Inc, KnowBe4, Zymergen, Latham Holdings Highlight Busy Week Of Offerings<blockquote>IPO预览：UiPath Inc、KnowBe4、Zymergen、Latham Holdings重点介绍繁忙的一周发行</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-04-19 08:58</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>This week’s offerings don’t have quite the same high profile as last week's highly anticipated IPO of<b>Coinbase Global</b>COIN 5.96%. Nevertheless, there are several excitingIPOsthat investors should consider this week, including UiPath and Latham Holdings.</p><p><blockquote>本周的发行不像上周备受期待的IPO那样引人注目<b>比特币基地全球</b>硬币5.96%。尽管如此，投资者本周应该考虑几个令人兴奋的IPO，包括UiPath和Latham Holdings。</blockquote></p><p>Here is a look at the expected IPO pricings for the week of April 19.</p><p><blockquote>以下是4月19日当周的预期IPO定价。</blockquote></p><p><b>DoubleVerify Holdings:</b>&nbsp;Digital media measurement and analytics company<b>DoubleVerify Holdings</b>&nbsp;NYSE:&nbsp;DV&nbsp;plansto sell 13.3 million shares at a price point of $24 to $27.</p><p><blockquote><b>DoubleVerify控股：</b>数字媒体测量和分析公司<b>双验证控股</b>纽约证券交易所股票代码：DV计划以24至27美元的价格出售1,330万股股票。</blockquote></p><p>The company makes security software for digital advertising and claims to have over 1,000 advertisers and publishers as partners, and more than 45 customers that each account for $1 million in annual revenue for DoubleVerify.</p><p><blockquote>该公司为数字广告生产安全软件，并声称有超过1,000家广告商和出版商作为合作伙伴，以及超过45家客户，每个客户为DoubleVerify贡献了100万美元的年收入。</blockquote></p><p>The company had revenue of $244 million in fiscal 2020, a year-over-year increase of 34%.</p><p><blockquote>该公司2020财年营收2.44亿美元，同比增长34%。</blockquote></p><p><b>NeuroPace:</b>&nbsp;Commercial-stage medical device company<b>NeuroPace</b>&nbsp;NASDAQ:&nbsp;NPCE&nbsp;says it&nbsp;hasthe first and only commercially-available, brain-responsive system to help fight seizures.</p><p><blockquote><b>神经空间：</b>商业化阶段医疗器械公司<b>神经空间</b>纳斯达克：NPCE表示，它拥有第一个也是唯一一个商用的大脑响应系统来帮助对抗癫痫发作。</blockquote></p><p>The company’s target market is customers who have drug-resistant epilepsy. Over 3,000 patients were&nbsp;served by the company through 2020. Neuropace had revenue of $10 million in fiscal 2020 and is guiding for fiscal 2021 revenue of between $11.1 million and $11.3 million.</p><p><blockquote>该公司的目标市场是患有耐药性癫痫的客户。截至2020年，该公司为超过3,000名患者提供了服务。Neuropace 2020财年的收入为1000万美元，预计2021财年的收入在1110万美元至1130万美元之间。</blockquote></p><p>Over $28 billion is spent annually on epilepsy care in the United States. The company plans to sell 5.3 million shares at a price point of $15 to $17.</p><p><blockquote>在美国，每年用于癫痫护理的费用超过280亿美元。该公司计划以15至17美元的价格出售530万股股票。</blockquote></p><p><b>UiPath:</b>Thebiggest IPOof the week is set to be automation company<b>UiPath Inc</b>NYSEPATH, with aplannedoffering of 21.3 million shares at a price point of $43 to $50.</p><p><blockquote><b>UiPath：</b>本周最大的IPO将是自动化公司<b>UiPath公司</b>NYSEPATH计划以43至50美元的价格发行2130万股。</blockquote></p><p>The company “makes software robots so people don’t have to be robots.” The company had annual recurring revenue of $580 million in the fiscal year ended January 31, 2021, for a growth rate of 65%.&nbsp;UiPath says it has over 7,900 customers, with over 1,000 of them paying $100,000 or more annually to the company.</p><p><blockquote>该公司“制造软件机器人，这样人们就不必成为机器人。”截至2021年1月31日的财年，该公司的年度经常性收入为5.8亿美元，增长率为65%。UiPath表示，它拥有超过7,900名客户，其中超过1,000名客户每年向该公司支付10万美元或更多。</blockquote></p><p>The company is targeting a market opportunity of $65 billion and believes its open architecture and end-to-end platform set it apart from competitors.</p><p><blockquote>该公司的目标是650亿美元的市场机会，并相信其开放式架构和端到端平台使其从竞争对手中脱颖而出。</blockquote></p><p><b>SkyWater Technology:</b>Pure-play technology foundry<b>SkyWater Technology</b>&nbsp;NASDAQ:&nbsp;SKYT&nbsp;offerssemiconductor development and manufacturing services, targeting&nbsp;customers in markets like advanced computing, aerospace, defense, automotive and IoT.</p><p><blockquote><b>SkyWater技术：</b>纯技术代工厂<b>天水科技</b>纳斯达克：SKYT提供半导体开发和制造服务，目标客户包括先进计算、航空航天、国防、汽车和物联网等市场。</blockquote></p><p>The company has 35 customers in its advanced technology services including L3Harris and<b>Microsoft Corporation</b>MSFT 0.48%. SkyWater was divested from Cypress Semiconductor in 2017. The company had revenue of $140.4 million in 2020.</p><p><blockquote>该公司的先进技术服务拥有35家客户，包括L3Harris和<b>微软公司</b>MSFT 0.48%。SkyWater于2017年从赛普拉斯半导体剥离。该公司2020年收入为1.404亿美元。</blockquote></p><p>SkyWater plans to sell 5.8 million shares at a price point of $12 to $14.</p><p><blockquote>SkyWater计划以12至14美元的价格出售580万股股票。</blockquote></p><p><b>KnowBe4:</b>Security platform<b>KnowBe4 Inc</b>&nbsp;NASDAQ:&nbsp;KNBE&nbsp;isseekingto sell 11.8 million shares at a price point of $16 to $18.</p><p><blockquote><b>已知4：</b>安全平台<b>KnowBe4公司</b>纳斯达克：KNBE正在寻求以16至18美元的价格出售1180万股股票。</blockquote></p><p>The company serves over 37,000 customers globally in markets worth $15 billion. The company had 45% revenue growth and $198 million in annual recurring revenue last year. It plans to rapidly grow its international operations, which made up 11.9% of revenue in fiscal 2020.</p><p><blockquote>该公司为全球超过37,000名客户提供服务，市场价值150亿美元。该公司去年的收入增长了45%，年度经常性收入为1.98亿美元。该公司计划快速发展其国际业务，该业务占2020财年收入的11.9%。</blockquote></p><p><b>Zymergen: \"</b>Biofacturing\" company<b>Zymergen</b>&nbsp;NASDAQ:&nbsp;ZY&nbsp;plansto sell 13.6 million shares at a price of $28 to $31.</p><p><blockquote><b>Zymergen：“</b>生物制造”公司<b>酶根</b>纳斯达克：ZY计划以28至31美元的价格出售1360万股股票。</blockquote></p><p>The company is working on bio-based products including films that could be used in rollable mobile tablet devices.</p><p><blockquote>该公司正在开发生物基产品，包括可用于可卷曲移动平板设备的薄膜。</blockquote></p><p>The company’s first product, Hyaline, was launched in December 2020, and an additional 10 products are in development. The biofacturing market is worth $1.2 trillion. according to the company.</p><p><blockquote>公司首款产品Hyaline于2020年12月上市，另有10款产品正在开发中。生物制造市场价值1.2万亿美元。据该公司称。</blockquote></p><p><b>Agiliti:</b>Healthcare service provider&nbsp;<b>Agiliti Inc</b>NYSEAGTIsays it&nbsp;hasa customer base of over 7,0000 networks and that&nbsp;90% of U.S. acute and alternate care facilities are within a 100-mile radius of an Agiliti service center. The company is seeking to sell 26.3 million shares at a price point of $18 to $20.</p><p><blockquote><b>敏捷性：</b>医疗服务提供者<b>敏捷公司</b>NYSEAGTI表示，它拥有超过7,000 0个网络的客户群，90%的美国急症和替代护理机构都在Agiliti服务中心100英里半径范围内。该公司寻求以18至20美元的价格出售2630万股股票。</blockquote></p><p><b>Latham Group:</b>A designer, manufacturer and marketer of in-ground residential pools in North America, Australia and New Zealandplansto go public this week.</p><p><blockquote><b>瑞生集团：</b>北美、澳大利亚和新西兰地下住宅泳池的设计者、制造商和营销商计划本周上市。</blockquote></p><p><b>Latham Group</b>&nbsp;NASDAQ:&nbsp;SWIM&nbsp;plans to sell 20 million shares at a price point of $19 to $21.</p><p><blockquote><b>莱瑟姆集团</b>纳斯达克：SWIM计划以19美元至21美元的价格出售2000万股股票。</blockquote></p><p>The company sells fiberglass products that are more durable and use less chemicals, according to the company. Latham sold 8,700 fiberglass pools in 2020 and reported its 11th consecutive year of net sales growth.</p><p><blockquote>据该公司称，该公司销售的玻璃纤维产品更耐用，使用的化学品更少。Latham在2020年销售了8,700个玻璃纤维泳池，并报告了连续11年净销售额增长。</blockquote></p><p>The company had revenue of $408 million in fiscal 2020, and&nbsp;59% of it came from in-ground pool sales.</p><p><blockquote>该公司2020财年的收入为4.08亿美元，其中59%来自地下泳池销售。</blockquote></p><p>In 2018, the company shifted from a business-to-business model to business-to-consumer, making it&nbsp;the only pool company with a direct relationship to the homeowner, according to the company.</p><p><blockquote>据该公司称，2018年，该公司从企业对企业模式转向企业对消费者模式，使其成为唯一一家与房主有直接关系的泳池公司。</blockquote></p><p></p><p>Fiberglass pools are still a small market in North America compared to international markets, Latham says. The company claims to have a No. 1 market-share position in all the categories it competes in for the North American market.</p><p><blockquote>莱瑟姆说，与国际市场相比，玻璃纤维泳池在北美仍然是一个小市场。该公司声称在北美市场竞争的所有类别中拥有第一的市场份额。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NPCE":"NeuroPace Inc.","SWIM":"Latham Group, Inc.","KNBE":"KnowBe4, Inc.","SKYT":"SkyWater Technology, Inc.","PATH":"UiPath","DV":"DoubleVerify Holdings, Inc.","AGTI":"Agiliti, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129471770","content_text":"This week’s offerings don’t have quite the same high profile as last week's highly anticipated IPO ofCoinbase GlobalCOIN 5.96%. Nevertheless, there are several excitingIPOsthat investors should consider this week, including UiPath and Latham Holdings.Here is a look at the expected IPO pricings for the week of April 19.DoubleVerify Holdings: Digital media measurement and analytics companyDoubleVerify Holdings NYSE: DV plansto sell 13.3 million shares at a price point of $24 to $27.The company makes security software for digital advertising and claims to have over 1,000 advertisers and publishers as partners, and more than 45 customers that each account for $1 million in annual revenue for DoubleVerify.The company had revenue of $244 million in fiscal 2020, a year-over-year increase of 34%.NeuroPace: Commercial-stage medical device companyNeuroPace NASDAQ: NPCE says it hasthe first and only commercially-available, brain-responsive system to help fight seizures.The company’s target market is customers who have drug-resistant epilepsy. Over 3,000 patients were served by the company through 2020. Neuropace had revenue of $10 million in fiscal 2020 and is guiding for fiscal 2021 revenue of between $11.1 million and $11.3 million.Over $28 billion is spent annually on epilepsy care in the United States. The company plans to sell 5.3 million shares at a price point of $15 to $17.UiPath:Thebiggest IPOof the week is set to be automation companyUiPath IncNYSEPATH, with aplannedoffering of 21.3 million shares at a price point of $43 to $50.The company “makes software robots so people don’t have to be robots.” The company had annual recurring revenue of $580 million in the fiscal year ended January 31, 2021, for a growth rate of 65%. UiPath says it has over 7,900 customers, with over 1,000 of them paying $100,000 or more annually to the company.The company is targeting a market opportunity of $65 billion and believes its open architecture and end-to-end platform set it apart from competitors.SkyWater Technology:Pure-play technology foundrySkyWater Technology NASDAQ: SKYT offerssemiconductor development and manufacturing services, targeting customers in markets like advanced computing, aerospace, defense, automotive and IoT.The company has 35 customers in its advanced technology services including L3Harris andMicrosoft CorporationMSFT 0.48%. SkyWater was divested from Cypress Semiconductor in 2017. The company had revenue of $140.4 million in 2020.SkyWater plans to sell 5.8 million shares at a price point of $12 to $14.KnowBe4:Security platformKnowBe4 Inc NASDAQ: KNBE isseekingto sell 11.8 million shares at a price point of $16 to $18.The company serves over 37,000 customers globally in markets worth $15 billion. The company had 45% revenue growth and $198 million in annual recurring revenue last year. It plans to rapidly grow its international operations, which made up 11.9% of revenue in fiscal 2020.Zymergen: \"Biofacturing\" companyZymergen NASDAQ: ZY plansto sell 13.6 million shares at a price of $28 to $31.The company is working on bio-based products including films that could be used in rollable mobile tablet devices.The company’s first product, Hyaline, was launched in December 2020, and an additional 10 products are in development. The biofacturing market is worth $1.2 trillion. according to the company.Agiliti:Healthcare service provider Agiliti IncNYSEAGTIsays it hasa customer base of over 7,0000 networks and that 90% of U.S. acute and alternate care facilities are within a 100-mile radius of an Agiliti service center. The company is seeking to sell 26.3 million shares at a price point of $18 to $20.Latham Group:A designer, manufacturer and marketer of in-ground residential pools in North America, Australia and New Zealandplansto go public this week.Latham Group NASDAQ: SWIM plans to sell 20 million shares at a price point of $19 to $21.The company sells fiberglass products that are more durable and use less chemicals, according to the company. Latham sold 8,700 fiberglass pools in 2020 and reported its 11th consecutive year of net sales growth.The company had revenue of $408 million in fiscal 2020, and 59% of it came from in-ground pool sales.In 2018, the company shifted from a business-to-business model to business-to-consumer, making it the only pool company with a direct relationship to the homeowner, according to the company.Fiberglass pools are still a small market in North America compared to international markets, Latham says. The company claims to have a No. 1 market-share position in all the categories it competes in for the North American market.","news_type":1,"symbols_score_info":{"AGTI":0.9,"NPCE":0.9,"DV":0.9,"KNBE":0.9,"SKYT":0.9,"ZY":0.9,"SWIM":0.9,"PATH":0.9}},"isVote":1,"tweetType":1,"viewCount":1589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373025284,"gmtCreate":1618805007348,"gmtModify":1634290799725,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/373025284","repostId":"1181769877","repostType":4,"repost":{"id":"1181769877","kind":"news","pubTimestamp":1618804724,"share":"https://www.laohu8.com/m/news/1181769877?lang=zh_CN&edition=full","pubTime":"2021-04-19 11:58","market":"us","language":"en","title":"\"Stunning Divergence\": Latest Bank Data Reveals Something Is Terminally Broken In The Financial System<blockquote>“惊人的分歧”：最新的银行数据显示金融体系出现了彻底的崩溃</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181769877","media":"zerohedge","summary":"There was a remarkable disclosure in thelatest JPMorgan earnings report: the largest US bank -an ent","content":"<p>There was a remarkable disclosure in thelatest JPMorgan earnings report: the largest US bank -<i><b>an entity that historically has best been known for making loans to the broader population</b></i>- reported that in Q1 its total deposits rose by a<b>whopping 24% Y/Y</b>and<b>up 6%</b>from Q4, to $2.278 trillion, while the total amount of loans issued by the bank was virtually flat sequentially at $1.011 trillion, and<b>down4%</b>from a year ago.</p><p><blockquote>摩根大通最新的收益报告中有一个引人注目的披露：美国最大的银行——<i><b>历史上以向更广泛的人群提供贷款而闻名的实体</b></i>-报告称，第一季度其存款总额增长了<b>同比增长24%</b>和<b>上涨6%</b>从第四季度到2.278万亿美元，而该银行发放的贷款总额几乎与上一季度持平，为1.011万亿美元，<b>下降4%</b>从一年前开始。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cbd35c95e3ba4eaeaa213b19b6e6b5cc\" tg-width=\"500\" tg-height=\"251\">In other words, for the first time in its history,<b>JPM had 100% more deposits than loans, or inversely, the ratio of loans to deposits dropped below 50% for the third quarter in a row after plunging in the aftermath of the covid pandemic:</b></p><p><blockquote>换句话说，在其历史上第一次，<b>摩根大通的存款比贷款多100%，反之亦然，贷存比在新冠疫情后暴跌后连续第三季度降至50%以下：</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/88af739d0bd73ca752ba72a295368d53\" tg-width=\"500\" tg-height=\"288\">An even more stunning divergence between total deposits and loans, emerges at Bank of America where deposits similarly hit a new all time high of $1.88 trillion, even as the bank's loans have continued to shrink at an alarming, deleveraging (and<i><b>deflationary</b></i>) pace and are now at $911 billion,<b>below their level during the great financial crisis:</b><b><u>in other words, there has been 12 years with zero loan growth at Bank of America</u></b><b>!</b></p><p><blockquote>美国银行的存款和贷款总额之间出现了更惊人的差异，该银行的存款同样创下了1.88万亿美元的历史新高，尽管该银行的贷款继续以惊人的去杠杆化（和<i><b>通货紧缩的</b></i>）的步伐，目前为9110亿美元，<b>低于金融危机期间的水平：</b><b><u>换句话说，美国银行已经有12年的贷款零增长</u></b><b>！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a1febc12a0eabe3e22c432aa693e58d\" tg-width=\"500\" tg-height=\"289\">It's not any better at either Citigroup...</p><p><blockquote>花旗集团的情况也好不到哪里去...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6a99c5af10fb3b98af9f6769114dc873\" tg-width=\"500\" tg-height=\"290\">... or even Wells Fargo (which while having been limited by the Fed in how much loans it can issue, apparently has had no limit on how many deposits it can collect):</p><p><blockquote>...甚至是富国银行（虽然美联储限制了其可以发放的贷款数量，但显然对其可以收取的存款数量没有限制）：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/187ef83b0ba80c5d8df469d36aab390e\" tg-width=\"500\" tg-height=\"290\">Summarizing the above data, we get the following picture breaking down total loans by Big-4 bank:</p><p><blockquote>总结上述数据，我们得到以下按四大银行划分的贷款总额：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cee3e3866c508adf5bddca1cab9d8109\" tg-width=\"500\" tg-height=\"273\">And total deposits.</p><p><blockquote>和存款总额。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a14f5b3ebc875449fba6a946a15f7e4\" tg-width=\"500\" tg-height=\"275\"><b>Finally, aggregating the data across the big 4 banks shows something striking: there has been no loan growth since the global financial crisis, while total deposits have doubled!</b></p><p><blockquote><b>最后，汇总四大银行的数据显示了一些惊人的情况：自全球金融危机以来，贷款没有增长，而存款总额却翻了一番！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/076ebbb5a6a365b1a770360d671cc3c2\" tg-width=\"500\" tg-height=\"289\">There are two major implications one should draw from the collapsing loan-to-deposit ratio. The first, more superficial one is that this ratio is a closely watched metric that measures how much lending a bank is doing when compared to its capacity to lend.</p><p><blockquote>人们应该从不断崩溃的贷存比中得出两个主要含义。第一个更肤浅的问题是，这一比率是一个受到密切关注的指标，衡量银行的贷款额与其放贷能力相比。</blockquote></p><p> The second, and far more profound implication, is arguably the most fundamental question in modern fractional reserve banking: what comes first, loans or deposits, in other words do private, commercial banks create the money in circulation (by first lending it out) or is the central bank responsible for money creation?</p><p><blockquote>第二个，也是更深刻的含义，可以说是现代部分准备金银行学中最基本的问题：贷款和存款哪个先出现，换句话说，是私人商业银行创造了流通中的货币（通过首先放贷），还是中央银行负责货币创造？</blockquote></p><p> One thing that is now beyond debate:<b>there are now far more deposits than there are loans in the US banking system.</b></p><p><blockquote>有一件事现在是无可争议的：<b>现在美国银行系统的存款远远多于贷款。</b></blockquote></p><p> This is a problem because most conventional monetarists will argue that loans always come first, and only then do banks receive deposits.</p><p><blockquote>这是一个问题，因为大多数传统的货币主义者会争辩说，贷款永远是第一位的，只有这样银行才会接收存款。</blockquote></p><p> It gets worse: as everyone now knows, we live in an MMT world where the Fed and Treasury have merged and where one basically monetizes what the other has to sell. And since the rainbows and unicorns world of MMT says that there is nothing to worry about from such debt monetization, even respected economists have been swept into this absolute idiocy and are urging the US to issue as much debt as it possibly can (with the Biden administration glad to oblige).</p><p><blockquote>情况变得更糟：众所周知，我们生活在一个MMT世界，美联储和财政部已经合并，一方基本上将另一方必须出售的东西货币化。由于MMT的彩虹和独角兽世界表示，这种债务货币化没有什么可担心的，即使是受人尊敬的经济学家也被卷入了这种绝对的白痴行为，并敦促美国尽可能多地发行债务（拜登政府很乐意答应）。</blockquote></p><p> There is just one problem: as of this moment, the core tenet of MMT is no longer applicable. As a reminder, according to MMT<b>loans create deposits not the other way around,</b>and this socialist crackpot theory further claims that Reserve balances have nothing to do with this – they are part of the banking system that ensure financial stability. Don't believe us? Watch the following clip from one of the priests of MMT, Warrn Mosler who explains how \"<b>loans create deposits.\"</b>Only... clearly that's no longer the case, and the<b>empirical data shown above makes patently obvious that the core, anchor theory of MMT on which all its other laughable theories are built is false,</b>with huge consequences for a world that has thrown its future into a world prescribed by said crackpot theory.</p><p><blockquote>只有一个问题：截至目前，MMT的核心原则不再适用。提醒一下，根据MMT<b>贷款创造存款而不是相反，</b>这种社会主义疯狂理论进一步声称，准备金余额与此无关——它们是确保金融稳定的银行体系的一部分。不相信我们？观看MMT牧师之一Warrn Mosler的以下剪辑，他解释了如何“<b>贷款创造存款。”</b>只有...显然情况不再是这样了<b>上面显示的经验数据清楚地表明，MMT的核心、锚定理论是错误的，它所有其他可笑的理论都是建立在这个基础上的，</b>对于一个把自己的未来扔进了一个由这种疯狂理论所规定的世界的世界来说，这将会产生巨大的后果。</blockquote></p><p> <b>The recent loan and deposit data also means that the conventional process of deposit creation via loans is terminally broken.</b></p><p><blockquote><b>最近的贷款和存款数据也意味着通过贷款创造存款的常规过程被彻底打破。</b></blockquote></p><p></p><p> Indeed, that's precisely the case with the missing link being - drumroll - the Fed,as we explained all the way back, in 2014. Here is the punchline of what we said then, when we did a similar analysis observing what was already a record amount of excess deposits over loans:</p><p><blockquote>事实上，正如我们在2014年解释的那样，缺失的环节正是美联储。以下是我们当时所说的笑点，当时我们进行了类似的分析，观察到存款超过贷款的数量已经创历史新高：</blockquote></p><p>   ... how does the record mismatch between deposits and loans look like? Well, for the Big 4 US banks, JPM, Wells, BofA and Citi it looks as follows.  <img src=\"https://static.tigerbbs.com/f936cf95378ced614eae0d4a4442defc\" tg-width=\"500\" tg-height=\"305\">What the above chart simply shows is the breakdown in the Excess Deposit over Loan series, which is shown in the chart below, which tracks the historical change in commercial bank loans and deposits. What is immediately obvious is that while loans and deposits moved hand in hand for most of history, starting with the collapse of Lehman loan creation has been virtually non-existent (total loans are now at levels seen at the time of Lehman's collapse) while deposits have risen to just about $10 trillion.<b>It is here that the Fed's excess reserves have gone - the delta between the two is almost precisely the total amount ofreserves injectedby the Fed since the Lehman crisis.</b></p><p><blockquote>...存贷款的记录错配是什么样子的？嗯，对于美国四大银行，摩根大通、富国银行、美国银行和花旗来说，情况如下。上图简单地显示了存款超过贷款系列的细分，如下图所示，该图表跟踪了商业银行贷款和存款的历史变化。显而易见的是，虽然贷款和存款在历史上的大部分时间里是齐头并进的，但从雷曼兄弟倒闭开始，贷款创造几乎不存在（贷款总额现在处于雷曼兄弟倒闭时的水平），而存款却上升到了10万亿美元左右。<b>正是在这里，美联储的超额准备金消失了——两者之间的增量几乎正好是自雷曼危机以来美联储注入的准备金总量。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5579de247a3b78c403d7a2a488f8e612\" tg-width=\"500\" tg-height=\"331\">So what does all of this mean? In a nutshell, with the Fed now tapering QE and deposit formation slowing, banks will have no choice but to issue loans to offset the lack of outside money injection by the Fed. In other words, while bank \"deposits\" have already experienced the benefit of \"future inflation\", and have manifested it in the stock market, it is now the turn of the matching asset to catch up. Which also means that while \"deposit\" growth (i.e., parked reserves) in the future will slow to a trickle, banks will have no choice but to flood the country with $2.5 trillion in loans, or a third of the currently outstanding loans,<b>just to catch up to the head start provided by the Fed!</b></p><p><blockquote>那么这一切意味着什么呢？简而言之，随着美联储现在缩减QE和存款形成放缓，银行将别无选择，只能发放贷款来抵消美联储外部资金注入的不足。也就是说，在银行“存款”已经尝到了“未来通胀”的甜头，并在股市中有所表现的同时，现在轮到匹配资产奋起直追了。这也意味着，虽然未来的“存款”增长（即闲置准备金）将放缓至涓涓细流，但银行将别无选择，只能向全国提供2.5万亿美元的贷款，或目前未偿贷款的三分之一，<b>只是为了赶上美联储提供的领先优势！</b></blockquote></p><p> <b>It is this loan creation that will jump start inside money and the flow through to the economy, resulting in the long-overdue growth.</b>It is also this loan creation that means banks will no longer speculate as prop traders with the excess liquidity but go back to their roots as lenders.<b>Most importantly, once banks launch this wholesale lending effort, it is then and only then that the true pernicious inflation from what the Fed has done in the past 5 years will finally rear its ugly head</b>.</p><p><blockquote><b>正是这种贷款创造将启动货币内部并流向经济，从而带来早该出现的增长。</b>也正是这种贷款创造意味着银行将不再作为拥有过剩流动性的自营交易者进行投机，而是回到作为贷款人的根源。<b>最重要的是，一旦银行开始大规模放贷，只有到那时，美联储过去5年所做的真正有害的通胀才会最终抬头</b>.</blockquote></p><p> It will also come as no surprise to anyone, that updating the chart we first showed in 2014 correctly explains today's reality, something which MMT is completely incapable of doing: as shown below the excess deposits over loans is entirely driven by the trillions in reserves pumped by the Fed!</p><p><blockquote>任何人都不会感到惊讶的是，更新我们在2014年首次展示的图表正确地解释了今天的现实，这是MMT完全无法做到的：如下图所示，存款超过贷款的过剩完全是由美联储注入的数万亿储备驱动的！</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ac78c6f58eddb6aa6185746284f1e76\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote></blockquote></p><p> The above also explains why even as the Fed has pumped trillions in reserves into banks, which by transformation have ended up as deposits on bank balance sheets,<b>the velocity of M2 money has plunged to an all time low</b>(and will soon drop below the fractional reserve system<i><b>singularity of 1.0x</b></i>), as<b>loan demand is nowhere near enough to offset the Fed's forced deposit creation which incidentally ends up</b><b><i>not in the economy but in capital markets,</i></b><b>resulting in broad deflation offset by asset price hyperinflation.</b></p><p><blockquote>上述也解释了为什么即使美联储向银行注入了数万亿的准备金，这些准备金通过转型最终成为银行资产负债表上的存款，<b>M2货币流通速度已降至历史新低</b>（并将很快降至部分准备金制度之下<i><b>1.0 x的奇异性</b></i>），作为<b>贷款需求远不足以抵消美联储强制创造的存款，而最终却意外地结束了</b><b><i>不是在经济而是在资本市场，</i></b><b>导致广泛的通货紧缩被资产价格恶性通货膨胀所抵消。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/3f9b7c79f47c161eefece6a418d2beef\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote></blockquote></p><p> One final reason why this data is absolutely critical: in a world where the dominant daily argument is whether the US is facing deflation or inflation, and where many have become convinced that we are facing a surge in higher prices, continued loan destruction is about the most deflationary thing possible. But don't take our word for it - here is an excerpt from the latest \"Flows and Liquidity\" report from JPMorgan strategist Nick Panigirtzoglou titled \"<i>The challenge from weak bank lending</i>\" in which he confirms all of the above observations, and writes that \"a common feature of this week's US bank earnings reports has been the weakness in loan growth. Indeed, weekly data from the Fed's H8 release shows that the pace of US bank lending remains in negative territory, exhibiting persistent weakness since last summer\"</p><p><blockquote>这一数据绝对至关重要的最后一个原因是：在一个日常主要争论是美国面临通货紧缩还是通胀的世界里，许多人已经确信我们正面临物价飙升，持续的贷款破坏是最可能发生的通货紧缩的事情。但不要相信我们的话——以下是摩根大通策略师Nick Panigirtzoglou最新“流量和流动性”报告的摘录，题为“<i>银行贷款疲软带来的挑战</i>”他在其中证实了上述所有观察结果，并写道“本周美国银行盈利报告的一个共同特征是贷款增长疲软。事实上，美联储H8发布的每周数据显示，美国银行贷款速度仍处于负值区域，自去年夏天以来持续疲软。”</blockquote></p><p></p><p> This persistent weakness, Panigirtzoglou writes, \"followed a temporary spike in bank lending during Q2 2020, immediately after the virus crisis erupted, and is reminiscent of the US bank lending trajectory after the Lehman crisis. After a temporary spike immediately after the Lehman crisis, driven by companies and consumers tapping bank credit lines, the pace of US bank lending had remained largely in negative territory up until the middle of 2011. Although it entered positive territory after 2011,<b>the pace of US bank lending had stayed significantly below pre -Lehman crisis levels, an important feature of the secular stagnation thesis</b>.\"</p><p><blockquote>Panigirtzoglou写道，这种持续的疲软“紧随病毒危机爆发后，Q2 2020年银行贷款暂时飙升，让人想起雷曼危机后美国银行贷款的轨迹。在雷曼危机后，在企业和消费者利用银行信贷额度的推动下，美国银行贷款的速度在2011年年中之前一直保持在负值区间。虽然2011年后进入正值区域，<b>美国银行放贷的速度远低于雷曼危机前的水平，这是长期停滞论的一个重要特征</b>.\"</blockquote></p><p> The JPM quant then concedes that it remains to be seen \"whether the protracted post Lehman period weakness in bank lending would be repeated in the current post virus cycle\" although what is likely to be the case \"is that the future trajectory for bank lending would be important in determining both the inflation and liquidity picture over the longer term.\"</p><p><blockquote>摩根大通量化分析师随后承认，“雷曼兄弟时期银行贷款的长期疲软是否会在当前的后病毒周期中重演”还有待观察，尽管很可能的情况是“银行贷款的未来轨迹”对于确定长期通胀和流动性状况非常重要。”</blockquote></p><p> And the JPM punchline:</p><p><blockquote>摩根大通的笑点是：</blockquote></p><p>   <i><b>\"A repeat of the post Lehman period protracted weakness in bank lending would cast doubt to the idea of a sustained inflation impulse over the coming years. It would also act as a drag for money supply and liquidity creation going forward, reducing a key driver of asset prices.\"</b></i>  Indeed, the next chart shows that money creation has been already normalizing from the torrid pace of the first half of 2020.</p><p><blockquote><i><b>“后雷曼时期银行贷款长期疲软的重演将使人们对未来几年持续通胀冲动的想法产生怀疑。这也将拖累未来的货币供应和流动性创造，减少资产价格的关键驱动因素。”</b></i>事实上，下图显示，货币创造已经从2020年上半年的火热步伐正常化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8fe0c1e42cddbb22952eef0f86744516\" tg-width=\"500\" tg-height=\"388\">Looking ahead, central bank tapering in 2022 - or whenever it arrives...</p><p><blockquote>展望未来，央行将在2022年或任何时候缩减规模...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/813bcc5ee519bda92783202065c85a28\" tg-width=\"500\" tg-height=\"387\">.. would likely induce further slowing in money creation over the coming years according to JPM, unless bank lending improves avoiding the protracted weakness of the post Lehman period.</p><p><blockquote>..摩根大通表示，除非银行贷款改善，避免后雷曼时期的长期疲软，否则未来几年货币创造可能会进一步放缓。</blockquote></p><p> JPMorgan's ominous concludes, \"<b>whether the protracted post Lehman period weakness in bank lending is repeated in the current post virus cycle will be critical in determining both the inflation and liquidity picture over the longer term. So far the trajectory for bank lending shows more similarities than differences to the post Lehman crisis period.\"</b></p><p><blockquote>摩根大通的不祥结论是，“<b>雷曼兄弟时期银行贷款的长期疲软是否会在当前的后病毒周期中重演，对于决定长期通胀和流动性状况至关重要。到目前为止，银行贷款的轨迹与雷曼危机后时期的相似之处多于差异。”</b></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Stunning Divergence\": Latest Bank Data Reveals Something Is Terminally Broken In The Financial System<blockquote>“惊人的分歧”：最新的银行数据显示金融体系出现了彻底的崩溃</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\">\n\"Stunning Divergence\": Latest Bank Data Reveals Something Is Terminally Broken In The Financial System<blockquote>“惊人的分歧”：最新的银行数据显示金融体系出现了彻底的崩溃</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-19 11:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There was a remarkable disclosure in thelatest JPMorgan earnings report: the largest US bank -<i><b>an entity that historically has best been known for making loans to the broader population</b></i>- reported that in Q1 its total deposits rose by a<b>whopping 24% Y/Y</b>and<b>up 6%</b>from Q4, to $2.278 trillion, while the total amount of loans issued by the bank was virtually flat sequentially at $1.011 trillion, and<b>down4%</b>from a year ago.</p><p><blockquote>摩根大通最新的收益报告中有一个引人注目的披露：美国最大的银行——<i><b>历史上以向更广泛的人群提供贷款而闻名的实体</b></i>-报告称，第一季度其存款总额增长了<b>同比增长24%</b>和<b>上涨6%</b>从第四季度到2.278万亿美元，而该银行发放的贷款总额几乎与上一季度持平，为1.011万亿美元，<b>下降4%</b>从一年前开始。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cbd35c95e3ba4eaeaa213b19b6e6b5cc\" tg-width=\"500\" tg-height=\"251\">In other words, for the first time in its history,<b>JPM had 100% more deposits than loans, or inversely, the ratio of loans to deposits dropped below 50% for the third quarter in a row after plunging in the aftermath of the covid pandemic:</b></p><p><blockquote>换句话说，在其历史上第一次，<b>摩根大通的存款比贷款多100%，反之亦然，贷存比在新冠疫情后暴跌后连续第三季度降至50%以下：</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/88af739d0bd73ca752ba72a295368d53\" tg-width=\"500\" tg-height=\"288\">An even more stunning divergence between total deposits and loans, emerges at Bank of America where deposits similarly hit a new all time high of $1.88 trillion, even as the bank's loans have continued to shrink at an alarming, deleveraging (and<i><b>deflationary</b></i>) pace and are now at $911 billion,<b>below their level during the great financial crisis:</b><b><u>in other words, there has been 12 years with zero loan growth at Bank of America</u></b><b>!</b></p><p><blockquote>美国银行的存款和贷款总额之间出现了更惊人的差异，该银行的存款同样创下了1.88万亿美元的历史新高，尽管该银行的贷款继续以惊人的去杠杆化（和<i><b>通货紧缩的</b></i>）的步伐，目前为9110亿美元，<b>低于金融危机期间的水平：</b><b><u>换句话说，美国银行已经有12年的贷款零增长</u></b><b>！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a1febc12a0eabe3e22c432aa693e58d\" tg-width=\"500\" tg-height=\"289\">It's not any better at either Citigroup...</p><p><blockquote>花旗集团的情况也好不到哪里去...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6a99c5af10fb3b98af9f6769114dc873\" tg-width=\"500\" tg-height=\"290\">... or even Wells Fargo (which while having been limited by the Fed in how much loans it can issue, apparently has had no limit on how many deposits it can collect):</p><p><blockquote>...甚至是富国银行（虽然美联储限制了其可以发放的贷款数量，但显然对其可以收取的存款数量没有限制）：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/187ef83b0ba80c5d8df469d36aab390e\" tg-width=\"500\" tg-height=\"290\">Summarizing the above data, we get the following picture breaking down total loans by Big-4 bank:</p><p><blockquote>总结上述数据，我们得到以下按四大银行划分的贷款总额：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cee3e3866c508adf5bddca1cab9d8109\" tg-width=\"500\" tg-height=\"273\">And total deposits.</p><p><blockquote>和存款总额。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0a14f5b3ebc875449fba6a946a15f7e4\" tg-width=\"500\" tg-height=\"275\"><b>Finally, aggregating the data across the big 4 banks shows something striking: there has been no loan growth since the global financial crisis, while total deposits have doubled!</b></p><p><blockquote><b>最后，汇总四大银行的数据显示了一些惊人的情况：自全球金融危机以来，贷款没有增长，而存款总额却翻了一番！</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/076ebbb5a6a365b1a770360d671cc3c2\" tg-width=\"500\" tg-height=\"289\">There are two major implications one should draw from the collapsing loan-to-deposit ratio. The first, more superficial one is that this ratio is a closely watched metric that measures how much lending a bank is doing when compared to its capacity to lend.</p><p><blockquote>人们应该从不断崩溃的贷存比中得出两个主要含义。第一个更肤浅的问题是，这一比率是一个受到密切关注的指标，衡量银行的贷款额与其放贷能力相比。</blockquote></p><p> The second, and far more profound implication, is arguably the most fundamental question in modern fractional reserve banking: what comes first, loans or deposits, in other words do private, commercial banks create the money in circulation (by first lending it out) or is the central bank responsible for money creation?</p><p><blockquote>第二个，也是更深刻的含义，可以说是现代部分准备金银行学中最基本的问题：贷款和存款哪个先出现，换句话说，是私人商业银行创造了流通中的货币（通过首先放贷），还是中央银行负责货币创造？</blockquote></p><p> One thing that is now beyond debate:<b>there are now far more deposits than there are loans in the US banking system.</b></p><p><blockquote>有一件事现在是无可争议的：<b>现在美国银行系统的存款远远多于贷款。</b></blockquote></p><p> This is a problem because most conventional monetarists will argue that loans always come first, and only then do banks receive deposits.</p><p><blockquote>这是一个问题，因为大多数传统的货币主义者会争辩说，贷款永远是第一位的，只有这样银行才会接收存款。</blockquote></p><p> It gets worse: as everyone now knows, we live in an MMT world where the Fed and Treasury have merged and where one basically monetizes what the other has to sell. And since the rainbows and unicorns world of MMT says that there is nothing to worry about from such debt monetization, even respected economists have been swept into this absolute idiocy and are urging the US to issue as much debt as it possibly can (with the Biden administration glad to oblige).</p><p><blockquote>情况变得更糟：众所周知，我们生活在一个MMT世界，美联储和财政部已经合并，一方基本上将另一方必须出售的东西货币化。由于MMT的彩虹和独角兽世界表示，这种债务货币化没有什么可担心的，即使是受人尊敬的经济学家也被卷入了这种绝对的白痴行为，并敦促美国尽可能多地发行债务（拜登政府很乐意答应）。</blockquote></p><p> There is just one problem: as of this moment, the core tenet of MMT is no longer applicable. As a reminder, according to MMT<b>loans create deposits not the other way around,</b>and this socialist crackpot theory further claims that Reserve balances have nothing to do with this – they are part of the banking system that ensure financial stability. Don't believe us? Watch the following clip from one of the priests of MMT, Warrn Mosler who explains how \"<b>loans create deposits.\"</b>Only... clearly that's no longer the case, and the<b>empirical data shown above makes patently obvious that the core, anchor theory of MMT on which all its other laughable theories are built is false,</b>with huge consequences for a world that has thrown its future into a world prescribed by said crackpot theory.</p><p><blockquote>只有一个问题：截至目前，MMT的核心原则不再适用。提醒一下，根据MMT<b>贷款创造存款而不是相反，</b>这种社会主义疯狂理论进一步声称，准备金余额与此无关——它们是确保金融稳定的银行体系的一部分。不相信我们？观看MMT牧师之一Warrn Mosler的以下剪辑，他解释了如何“<b>贷款创造存款。”</b>只有...显然情况不再是这样了<b>上面显示的经验数据清楚地表明，MMT的核心、锚定理论是错误的，它所有其他可笑的理论都是建立在这个基础上的，</b>对于一个把自己的未来扔进了一个由这种疯狂理论所规定的世界的世界来说，这将会产生巨大的后果。</blockquote></p><p> <b>The recent loan and deposit data also means that the conventional process of deposit creation via loans is terminally broken.</b></p><p><blockquote><b>最近的贷款和存款数据也意味着通过贷款创造存款的常规过程被彻底打破。</b></blockquote></p><p></p><p> Indeed, that's precisely the case with the missing link being - drumroll - the Fed,as we explained all the way back, in 2014. Here is the punchline of what we said then, when we did a similar analysis observing what was already a record amount of excess deposits over loans:</p><p><blockquote>事实上，正如我们在2014年解释的那样，缺失的环节正是美联储。以下是我们当时所说的笑点，当时我们进行了类似的分析，观察到存款超过贷款的数量已经创历史新高：</blockquote></p><p>   ... how does the record mismatch between deposits and loans look like? Well, for the Big 4 US banks, JPM, Wells, BofA and Citi it looks as follows.  <img src=\"https://static.tigerbbs.com/f936cf95378ced614eae0d4a4442defc\" tg-width=\"500\" tg-height=\"305\">What the above chart simply shows is the breakdown in the Excess Deposit over Loan series, which is shown in the chart below, which tracks the historical change in commercial bank loans and deposits. What is immediately obvious is that while loans and deposits moved hand in hand for most of history, starting with the collapse of Lehman loan creation has been virtually non-existent (total loans are now at levels seen at the time of Lehman's collapse) while deposits have risen to just about $10 trillion.<b>It is here that the Fed's excess reserves have gone - the delta between the two is almost precisely the total amount ofreserves injectedby the Fed since the Lehman crisis.</b></p><p><blockquote>...存贷款的记录错配是什么样子的？嗯，对于美国四大银行，摩根大通、富国银行、美国银行和花旗来说，情况如下。上图简单地显示了存款超过贷款系列的细分，如下图所示，该图表跟踪了商业银行贷款和存款的历史变化。显而易见的是，虽然贷款和存款在历史上的大部分时间里是齐头并进的，但从雷曼兄弟倒闭开始，贷款创造几乎不存在（贷款总额现在处于雷曼兄弟倒闭时的水平），而存款却上升到了10万亿美元左右。<b>正是在这里，美联储的超额准备金消失了——两者之间的增量几乎正好是自雷曼危机以来美联储注入的准备金总量。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5579de247a3b78c403d7a2a488f8e612\" tg-width=\"500\" tg-height=\"331\">So what does all of this mean? In a nutshell, with the Fed now tapering QE and deposit formation slowing, banks will have no choice but to issue loans to offset the lack of outside money injection by the Fed. In other words, while bank \"deposits\" have already experienced the benefit of \"future inflation\", and have manifested it in the stock market, it is now the turn of the matching asset to catch up. Which also means that while \"deposit\" growth (i.e., parked reserves) in the future will slow to a trickle, banks will have no choice but to flood the country with $2.5 trillion in loans, or a third of the currently outstanding loans,<b>just to catch up to the head start provided by the Fed!</b></p><p><blockquote>那么这一切意味着什么呢？简而言之，随着美联储现在缩减QE和存款形成放缓，银行将别无选择，只能发放贷款来抵消美联储外部资金注入的不足。也就是说，在银行“存款”已经尝到了“未来通胀”的甜头，并在股市中有所表现的同时，现在轮到匹配资产奋起直追了。这也意味着，虽然未来的“存款”增长（即闲置准备金）将放缓至涓涓细流，但银行将别无选择，只能向全国提供2.5万亿美元的贷款，或目前未偿贷款的三分之一，<b>只是为了赶上美联储提供的领先优势！</b></blockquote></p><p> <b>It is this loan creation that will jump start inside money and the flow through to the economy, resulting in the long-overdue growth.</b>It is also this loan creation that means banks will no longer speculate as prop traders with the excess liquidity but go back to their roots as lenders.<b>Most importantly, once banks launch this wholesale lending effort, it is then and only then that the true pernicious inflation from what the Fed has done in the past 5 years will finally rear its ugly head</b>.</p><p><blockquote><b>正是这种贷款创造将启动货币内部并流向经济，从而带来早该出现的增长。</b>也正是这种贷款创造意味着银行将不再作为拥有过剩流动性的自营交易者进行投机，而是回到作为贷款人的根源。<b>最重要的是，一旦银行开始大规模放贷，只有到那时，美联储过去5年所做的真正有害的通胀才会最终抬头</b>.</blockquote></p><p> It will also come as no surprise to anyone, that updating the chart we first showed in 2014 correctly explains today's reality, something which MMT is completely incapable of doing: as shown below the excess deposits over loans is entirely driven by the trillions in reserves pumped by the Fed!</p><p><blockquote>任何人都不会感到惊讶的是，更新我们在2014年首次展示的图表正确地解释了今天的现实，这是MMT完全无法做到的：如下图所示，存款超过贷款的过剩完全是由美联储注入的数万亿储备驱动的！</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ac78c6f58eddb6aa6185746284f1e76\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote></blockquote></p><p> The above also explains why even as the Fed has pumped trillions in reserves into banks, which by transformation have ended up as deposits on bank balance sheets,<b>the velocity of M2 money has plunged to an all time low</b>(and will soon drop below the fractional reserve system<i><b>singularity of 1.0x</b></i>), as<b>loan demand is nowhere near enough to offset the Fed's forced deposit creation which incidentally ends up</b><b><i>not in the economy but in capital markets,</i></b><b>resulting in broad deflation offset by asset price hyperinflation.</b></p><p><blockquote>上述也解释了为什么即使美联储向银行注入了数万亿的准备金，这些准备金通过转型最终成为银行资产负债表上的存款，<b>M2货币流通速度已降至历史新低</b>（并将很快降至部分准备金制度之下<i><b>1.0 x的奇异性</b></i>），作为<b>贷款需求远不足以抵消美联储强制创造的存款，而最终却意外地结束了</b><b><i>不是在经济而是在资本市场，</i></b><b>导致广泛的通货紧缩被资产价格恶性通货膨胀所抵消。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/3f9b7c79f47c161eefece6a418d2beef\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote></blockquote></p><p> One final reason why this data is absolutely critical: in a world where the dominant daily argument is whether the US is facing deflation or inflation, and where many have become convinced that we are facing a surge in higher prices, continued loan destruction is about the most deflationary thing possible. But don't take our word for it - here is an excerpt from the latest \"Flows and Liquidity\" report from JPMorgan strategist Nick Panigirtzoglou titled \"<i>The challenge from weak bank lending</i>\" in which he confirms all of the above observations, and writes that \"a common feature of this week's US bank earnings reports has been the weakness in loan growth. Indeed, weekly data from the Fed's H8 release shows that the pace of US bank lending remains in negative territory, exhibiting persistent weakness since last summer\"</p><p><blockquote>这一数据绝对至关重要的最后一个原因是：在一个日常主要争论是美国面临通货紧缩还是通胀的世界里，许多人已经确信我们正面临物价飙升，持续的贷款破坏是最可能发生的通货紧缩的事情。但不要相信我们的话——以下是摩根大通策略师Nick Panigirtzoglou最新“流量和流动性”报告的摘录，题为“<i>银行贷款疲软带来的挑战</i>”他在其中证实了上述所有观察结果，并写道“本周美国银行盈利报告的一个共同特征是贷款增长疲软。事实上，美联储H8发布的每周数据显示，美国银行贷款速度仍处于负值区域，自去年夏天以来持续疲软。”</blockquote></p><p></p><p> This persistent weakness, Panigirtzoglou writes, \"followed a temporary spike in bank lending during Q2 2020, immediately after the virus crisis erupted, and is reminiscent of the US bank lending trajectory after the Lehman crisis. After a temporary spike immediately after the Lehman crisis, driven by companies and consumers tapping bank credit lines, the pace of US bank lending had remained largely in negative territory up until the middle of 2011. Although it entered positive territory after 2011,<b>the pace of US bank lending had stayed significantly below pre -Lehman crisis levels, an important feature of the secular stagnation thesis</b>.\"</p><p><blockquote>Panigirtzoglou写道，这种持续的疲软“紧随病毒危机爆发后，Q2 2020年银行贷款暂时飙升，让人想起雷曼危机后美国银行贷款的轨迹。在雷曼危机后，在企业和消费者利用银行信贷额度的推动下，美国银行贷款的速度在2011年年中之前一直保持在负值区间。虽然2011年后进入正值区域，<b>美国银行放贷的速度远低于雷曼危机前的水平，这是长期停滞论的一个重要特征</b>.\"</blockquote></p><p> The JPM quant then concedes that it remains to be seen \"whether the protracted post Lehman period weakness in bank lending would be repeated in the current post virus cycle\" although what is likely to be the case \"is that the future trajectory for bank lending would be important in determining both the inflation and liquidity picture over the longer term.\"</p><p><blockquote>摩根大通量化分析师随后承认，“雷曼兄弟时期银行贷款的长期疲软是否会在当前的后病毒周期中重演”还有待观察，尽管很可能的情况是“银行贷款的未来轨迹”对于确定长期通胀和流动性状况非常重要。”</blockquote></p><p> And the JPM punchline:</p><p><blockquote>摩根大通的笑点是：</blockquote></p><p>   <i><b>\"A repeat of the post Lehman period protracted weakness in bank lending would cast doubt to the idea of a sustained inflation impulse over the coming years. It would also act as a drag for money supply and liquidity creation going forward, reducing a key driver of asset prices.\"</b></i>  Indeed, the next chart shows that money creation has been already normalizing from the torrid pace of the first half of 2020.</p><p><blockquote><i><b>“后雷曼时期银行贷款长期疲软的重演将使人们对未来几年持续通胀冲动的想法产生怀疑。这也将拖累未来的货币供应和流动性创造，减少资产价格的关键驱动因素。”</b></i>事实上，下图显示，货币创造已经从2020年上半年的火热步伐正常化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8fe0c1e42cddbb22952eef0f86744516\" tg-width=\"500\" tg-height=\"388\">Looking ahead, central bank tapering in 2022 - or whenever it arrives...</p><p><blockquote>展望未来，央行将在2022年或任何时候缩减规模...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/813bcc5ee519bda92783202065c85a28\" tg-width=\"500\" tg-height=\"387\">.. would likely induce further slowing in money creation over the coming years according to JPM, unless bank lending improves avoiding the protracted weakness of the post Lehman period.</p><p><blockquote>..摩根大通表示，除非银行贷款改善，避免后雷曼时期的长期疲软，否则未来几年货币创造可能会进一步放缓。</blockquote></p><p> JPMorgan's ominous concludes, \"<b>whether the protracted post Lehman period weakness in bank lending is repeated in the current post virus cycle will be critical in determining both the inflation and liquidity picture over the longer term. So far the trajectory for bank lending shows more similarities than differences to the post Lehman crisis period.\"</b></p><p><blockquote>摩根大通的不祥结论是，“<b>雷曼兄弟时期银行贷款的长期疲软是否会在当前的后病毒周期中重演，对于决定长期通胀和流动性状况至关重要。到目前为止，银行贷款的轨迹与雷曼危机后时期的相似之处多于差异。”</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/stunning-divergence-latest-bank-data-reveals-something-terminally-broken-financial-system\">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":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/stunning-divergence-latest-bank-data-reveals-something-terminally-broken-financial-system","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181769877","content_text":"There was a remarkable disclosure in thelatest JPMorgan earnings report: the largest US bank -an entity that historically has best been known for making loans to the broader population- reported that in Q1 its total deposits rose by awhopping 24% Y/Yandup 6%from Q4, to $2.278 trillion, while the total amount of loans issued by the bank was virtually flat sequentially at $1.011 trillion, anddown4%from a year ago.\nIn other words, for the first time in its history,JPM had 100% more deposits than loans, or inversely, the ratio of loans to deposits dropped below 50% for the third quarter in a row after plunging in the aftermath of the covid pandemic:\nAn even more stunning divergence between total deposits and loans, emerges at Bank of America where deposits similarly hit a new all time high of $1.88 trillion, even as the bank's loans have continued to shrink at an alarming, deleveraging (anddeflationary) pace and are now at $911 billion,below their level during the great financial crisis:in other words, there has been 12 years with zero loan growth at Bank of America!\nIt's not any better at either Citigroup...\n... or even Wells Fargo (which while having been limited by the Fed in how much loans it can issue, apparently has had no limit on how many deposits it can collect):\nSummarizing the above data, we get the following picture breaking down total loans by Big-4 bank:\nAnd total deposits.\nFinally, aggregating the data across the big 4 banks shows something striking: there has been no loan growth since the global financial crisis, while total deposits have doubled!\nThere are two major implications one should draw from the collapsing loan-to-deposit ratio. The first, more superficial one is that this ratio is a closely watched metric that measures how much lending a bank is doing when compared to its capacity to lend.\nThe second, and far more profound implication, is arguably the most fundamental question in modern fractional reserve banking: what comes first, loans or deposits, in other words do private, commercial banks create the money in circulation (by first lending it out) or is the central bank responsible for money creation?\nOne thing that is now beyond debate:there are now far more deposits than there are loans in the US banking system.\nThis is a problem because most conventional monetarists will argue that loans always come first, and only then do banks receive deposits.\nIt gets worse: as everyone now knows, we live in an MMT world where the Fed and Treasury have merged and where one basically monetizes what the other has to sell. And since the rainbows and unicorns world of MMT says that there is nothing to worry about from such debt monetization, even respected economists have been swept into this absolute idiocy and are urging the US to issue as much debt as it possibly can (with the Biden administration glad to oblige).\nThere is just one problem: as of this moment, the core tenet of MMT is no longer applicable. As a reminder, according to MMTloans create deposits not the other way around,and this socialist crackpot theory further claims that Reserve balances have nothing to do with this – they are part of the banking system that ensure financial stability. Don't believe us? Watch the following clip from one of the priests of MMT, Warrn Mosler who explains how \"loans create deposits.\"Only... clearly that's no longer the case, and theempirical data shown above makes patently obvious that the core, anchor theory of MMT on which all its other laughable theories are built is false,with huge consequences for a world that has thrown its future into a world prescribed by said crackpot theory.\nThe recent loan and deposit data also means that the conventional process of deposit creation via loans is terminally broken.\nIndeed, that's precisely the case with the missing link being - drumroll - the Fed,as we explained all the way back, in 2014. Here is the punchline of what we said then, when we did a similar analysis observing what was already a record amount of excess deposits over loans:\n\n ... how does the record mismatch between deposits and loans look like? Well, for the Big 4 US banks, JPM, Wells, BofA and Citi it looks as follows.\n\nWhat the above chart simply shows is the breakdown in the Excess Deposit over Loan series, which is shown in the chart below, which tracks the historical change in commercial bank loans and deposits. What is immediately obvious is that while loans and deposits moved hand in hand for most of history, starting with the collapse of Lehman loan creation has been virtually non-existent (total loans are now at levels seen at the time of Lehman's collapse) while deposits have risen to just about $10 trillion.It is here that the Fed's excess reserves have gone - the delta between the two is almost precisely the total amount ofreserves injectedby the Fed since the Lehman crisis.\nSo what does all of this mean? In a nutshell, with the Fed now tapering QE and deposit formation slowing, banks will have no choice but to issue loans to offset the lack of outside money injection by the Fed. In other words, while bank \"deposits\" have already experienced the benefit of \"future inflation\", and have manifested it in the stock market, it is now the turn of the matching asset to catch up. Which also means that while \"deposit\" growth (i.e., parked reserves) in the future will slow to a trickle, banks will have no choice but to flood the country with $2.5 trillion in loans, or a third of the currently outstanding loans,just to catch up to the head start provided by the Fed!\nIt is this loan creation that will jump start inside money and the flow through to the economy, resulting in the long-overdue growth.It is also this loan creation that means banks will no longer speculate as prop traders with the excess liquidity but go back to their roots as lenders.Most importantly, once banks launch this wholesale lending effort, it is then and only then that the true pernicious inflation from what the Fed has done in the past 5 years will finally rear its ugly head.\nIt will also come as no surprise to anyone, that updating the chart we first showed in 2014 correctly explains today's reality, something which MMT is completely incapable of doing: as shown below the excess deposits over loans is entirely driven by the trillions in reserves pumped by the Fed!\n\nThe above also explains why even as the Fed has pumped trillions in reserves into banks, which by transformation have ended up as deposits on bank balance sheets,the velocity of M2 money has plunged to an all time low(and will soon drop below the fractional reserve systemsingularity of 1.0x), asloan demand is nowhere near enough to offset the Fed's forced deposit creation which incidentally ends upnot in the economy but in capital markets,resulting in broad deflation offset by asset price hyperinflation.\n\nOne final reason why this data is absolutely critical: in a world where the dominant daily argument is whether the US is facing deflation or inflation, and where many have become convinced that we are facing a surge in higher prices, continued loan destruction is about the most deflationary thing possible. But don't take our word for it - here is an excerpt from the latest \"Flows and Liquidity\" report from JPMorgan strategist Nick Panigirtzoglou titled \"The challenge from weak bank lending\" in which he confirms all of the above observations, and writes that \"a common feature of this week's US bank earnings reports has been the weakness in loan growth. Indeed, weekly data from the Fed's H8 release shows that the pace of US bank lending remains in negative territory, exhibiting persistent weakness since last summer\"\nThis persistent weakness, Panigirtzoglou writes, \"followed a temporary spike in bank lending during Q2 2020, immediately after the virus crisis erupted, and is reminiscent of the US bank lending trajectory after the Lehman crisis. After a temporary spike immediately after the Lehman crisis, driven by companies and consumers tapping bank credit lines, the pace of US bank lending had remained largely in negative territory up until the middle of 2011. Although it entered positive territory after 2011,the pace of US bank lending had stayed significantly below pre -Lehman crisis levels, an important feature of the secular stagnation thesis.\"\nThe JPM quant then concedes that it remains to be seen \"whether the protracted post Lehman period weakness in bank lending would be repeated in the current post virus cycle\" although what is likely to be the case \"is that the future trajectory for bank lending would be important in determining both the inflation and liquidity picture over the longer term.\"\nAnd the JPM punchline:\n\n\"A repeat of the post Lehman period protracted weakness in bank lending would cast doubt to the idea of a sustained inflation impulse over the coming years. It would also act as a drag for money supply and liquidity creation going forward, reducing a key driver of asset prices.\"\n\nIndeed, the next chart shows that money creation has been already normalizing from the torrid pace of the first half of 2020.\nLooking ahead, central bank tapering in 2022 - or whenever it arrives...\n.. would likely induce further slowing in money creation over the coming years according to JPM, unless bank lending improves avoiding the protracted weakness of the post Lehman period.\nJPMorgan's ominous concludes, \"whether the protracted post Lehman period weakness in bank lending is repeated in the current post virus cycle will be critical in determining both the inflation and liquidity picture over the longer term. So far the trajectory for bank lending shows more similarities than differences to the post Lehman crisis period.\"","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2772,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345962865,"gmtCreate":1618273219957,"gmtModify":1634294052039,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/345962865","repostId":"1129466392","repostType":4,"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340297540,"gmtCreate":1617414902880,"gmtModify":1634521069138,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/340297540","repostId":"1121666420","repostType":4,"repost":{"id":"1121666420","kind":"news","pubTimestamp":1617365764,"share":"https://www.laohu8.com/m/news/1121666420?lang=zh_CN&edition=full","pubTime":"2021-04-02 20:16","market":"us","language":"en","title":"Wall Street Has Given Up on These 3 Stocks, and That's a Huge Mistake<blockquote>华尔街放弃了这三只股票，这是一个巨大的错误</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1121666420","media":"Motley Fool","summary":"It's never a bad time to search for beaten-down stocks that are profitable on paper.Searching forval","content":"<p>It's never a bad time to search for beaten-down stocks that are profitable on paper.Searching forvalue stocksis pretty simple: Find financially robust companies that have performed poorly from a share price perspective, and buy them when they're down. When the share price comes back to reality, you'll be a winner. Wall Street has the habit of kicking a stock when it's down, as negative sentiment surrounding a particular name can spell doom for shareholders.</p><p><blockquote>现在是寻找纸面上盈利的遭受重创的股票的最佳时机。寻找价值股票非常简单：找到从股价角度来看表现不佳的财务稳健的公司，并在它们下跌时买入它们。当股价回到现实时，你将是赢家。华尔街有在股票下跌时踢掉股票的习惯，因为围绕某个特定名称的负面情绪可能会给股东带来厄运。</blockquote></p><p>For those seeking value, these moments present an opportunity. Here, we'll look at three value stocks that have seen better days, but also have a good chance at rebounding.</p><p><blockquote>对于那些寻求价值的人来说，这些时刻提供了一个机会。在这里，我们将关注三只价值股，它们经历了更好的日子，但也有很好的反弹机会。</blockquote></p><p><b>Gilead Sciences</b></p><p><blockquote><b>吉利德科学</b></blockquote></p><p>Over the past five years,<b>Gilead Sciences</b>(NASDAQ:GILD)has managed to lose about 40% of its value on the open market, and has vastly underperformed apassively held index fundover the same period (as shown below). As a market leader in the oncology, HIV, and hepatitis C drug markets, respectively, the company produces a suite of antivirals for typically hard-to-treat illnesses. While Gilead was -- and is -- front-and-center during the pandemic in its production of Veklury (more commonly known as remdesivir), it is not one of the major vaccine producers.</p><p><blockquote>五年来，<b>吉利德科学</b>（纳斯达克：GILD）在公开市场上损失了约40%的价值，并且同期的表现远远落后于被动持有的指数基金（如下所示）。作为肿瘤学、艾滋病毒和丙型肝炎药物市场的市场领导者，该公司生产一系列针对通常难以治疗的疾病的抗病毒药物。虽然吉利德在大流行期间一直是Veklury（通常称为remdesivir）生产的前沿和中心，但它并不是主要的疫苗生产商之一。</blockquote></p><p>Perhaps the better news for those considering a Gilead investment is that the company is fundamentally quite strong. It trades at 9 times earnings, which is comparably cheap across the large-cap biotech sector. It projects a strong 2021, releasing guidance for revenue of $25 billion and EPS in the $7 range .</p><p><blockquote>对于那些考虑投资吉利德的人来说，也许更好的消息是该公司从根本上来说相当强大。它的市盈率为9倍，在大型生物技术行业中相对便宜。它预计2021年将表现强劲，发布的收入指引为250亿美元，每股收益在7美元左右。</blockquote></p><p>Put simply, the company trades at an attractive price relative to the earnings it generates, and the hope is that patients start treatment for other viral and chronic (non-COVID) illnesses now that the pandemic has waned a bit in the early part of the year.</p><p><blockquote>简而言之，相对于其产生的收入，该公司的交易价格具有吸引力，希望患者能够开始治疗其他病毒性和慢性（非新冠）疾病，因为疫情在今年年初有所减弱。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3e7203dcf348bdd13924f561f04db9af\" tg-width=\"720\" tg-height=\"435\" referrerpolicy=\"no-referrer\"><b>DISH Network</b></p><p><blockquote><b>碟形网络</b></blockquote></p><p>Despite a stagnant stock price --<b>DISH Network</b>(NASDAQ:DISH)has fallen from just under $50 per share to around $35 today -- there is reason to believe a comeback is in the works. The stock currently trades at 11 times earnings, relatively cheap based on today's standards, and posted strong revenue growth in 2020, up about 40% from 2019.</p><p><blockquote>尽管股价停滞不前--<b>碟形网络</b>（纳斯达克：DISH）的股价已从每股略低于50美元跌至今天的35美元左右——有理由相信股价正在卷土重来。该股目前的市盈率为11倍，以今天的标准来看相对便宜，2020年收入增长强劲，较2019年增长约40%。</blockquote></p><p>DISH has engaged in a few creative partnerships; perhaps the most promising of the bunchis a pact with DraftKings, which seeks to offer sports betting from DISH set-top boxes. The underlying current here is that DISH Network has shown an ability to think outside the box, which is reflected in itsprofitability measures. It is a buy at its current price, and has an opportunity to stage a comeback in the coming years.</p><p><blockquote>DISH参与了一些创造性的合作；也许其中最有前途的是与DraftKings的协议，该协议旨在通过碟形机顶盒提供体育博彩。这里的潜在趋势是，DISH Network已经表现出了跳出框框思考的能力，这反映在其盈利能力指标上。以目前的价格买入，并有机会在未来几年卷土重来。</blockquote></p><p><b>Tupperware Brands</b></p><p><blockquote><b>特百惠品牌</b></blockquote></p><p>While not the most high-flying name you've ever heard,<b>Tupperware Brands</b>(NYSE:TUP)simply runs a sustainably profitable business. Last year's earnings were $2.24 a share, and the stock currently trades around $25 per share, leading to a current price-to-earnings ratio of only about 11. While overall sales were down in 2020, profitable sales growth rose, a sign that the company is still able to control costs and make money in the most difficult of circumstances.</p><p><blockquote>虽然不是你听过的最崇高的名字，<b>特百惠品牌</b>（纽约证券交易所股票代码：TUP）只是经营一项可持续盈利的业务。去年的每股收益为2.24美元，该股目前的交易价格约为每股25美元，导致目前的市盈率仅为11左右。虽然2020年整体销售额下降，但盈利销售额增长上升，这表明该公司仍然能够在最困难的情况下控制成本并赚钱。</blockquote></p><p>The stock has also lost two-thirds of its value since 2013 but remains profitable. According to its year-end press release, the company has been successful in restructuring its debt and executing on its turnaround plans (especially concerning its core businesses). Shares remain cheap for the moment, but the fact remains: The company makes money and has the financials to prove it.</p><p><blockquote>自2013年以来，该股的价值也损失了三分之二，但仍保持盈利。根据其年终新闻稿，该公司已成功重组债务并执行扭亏为盈计划（特别是有关其核心业务）。目前股价仍然便宜，但事实仍然是：该公司赚钱，并且有财务数据证明这一点。</blockquote></p><p><b>When in doubt, seek value</b></p><p><blockquote><b>当有疑问时，寻求价值</b></blockquote></p><p>The basic premise of value investing is to find profitable companies that happen to be on sale in the open market. While single-stock investing is far from a guaranteed strategy, it's worth looking into seemingly \"forgotten\" companies that simply have not yet had their day in the sun. Companies that have demonstrated their ability to grow and sustain profitability are your best bet, especially when they're cheap.</p><p><blockquote>价值投资的基本前提是找到盈利的公司，而这些公司恰好在公开市场上出售。虽然单一股票投资远非一种有保证的策略，但值得关注那些看似“被遗忘”的公司，这些公司只是还没有成功。已经证明有能力增长和维持盈利能力的公司是你最好的选择，尤其是当它们很便宜的时候。</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>Wall Street Has Given Up on These 3 Stocks, and That's a Huge Mistake<blockquote>华尔街放弃了这三只股票，这是一个巨大的错误</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\">\nWall Street Has Given Up on These 3 Stocks, and That's a Huge Mistake<blockquote>华尔街放弃了这三只股票，这是一个巨大的错误</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-04-02 20:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It's never a bad time to search for beaten-down stocks that are profitable on paper.Searching forvalue stocksis pretty simple: Find financially robust companies that have performed poorly from a share price perspective, and buy them when they're down. When the share price comes back to reality, you'll be a winner. Wall Street has the habit of kicking a stock when it's down, as negative sentiment surrounding a particular name can spell doom for shareholders.</p><p><blockquote>现在是寻找纸面上盈利的遭受重创的股票的最佳时机。寻找价值股票非常简单：找到从股价角度来看表现不佳的财务稳健的公司，并在它们下跌时买入它们。当股价回到现实时，你将是赢家。华尔街有在股票下跌时踢掉股票的习惯，因为围绕某个特定名称的负面情绪可能会给股东带来厄运。</blockquote></p><p>For those seeking value, these moments present an opportunity. Here, we'll look at three value stocks that have seen better days, but also have a good chance at rebounding.</p><p><blockquote>对于那些寻求价值的人来说，这些时刻提供了一个机会。在这里，我们将关注三只价值股，它们经历了更好的日子，但也有很好的反弹机会。</blockquote></p><p><b>Gilead Sciences</b></p><p><blockquote><b>吉利德科学</b></blockquote></p><p>Over the past five years,<b>Gilead Sciences</b>(NASDAQ:GILD)has managed to lose about 40% of its value on the open market, and has vastly underperformed apassively held index fundover the same period (as shown below). As a market leader in the oncology, HIV, and hepatitis C drug markets, respectively, the company produces a suite of antivirals for typically hard-to-treat illnesses. While Gilead was -- and is -- front-and-center during the pandemic in its production of Veklury (more commonly known as remdesivir), it is not one of the major vaccine producers.</p><p><blockquote>五年来，<b>吉利德科学</b>（纳斯达克：GILD）在公开市场上损失了约40%的价值，并且同期的表现远远落后于被动持有的指数基金（如下所示）。作为肿瘤学、艾滋病毒和丙型肝炎药物市场的市场领导者，该公司生产一系列针对通常难以治疗的疾病的抗病毒药物。虽然吉利德在大流行期间一直是Veklury（通常称为remdesivir）生产的前沿和中心，但它并不是主要的疫苗生产商之一。</blockquote></p><p>Perhaps the better news for those considering a Gilead investment is that the company is fundamentally quite strong. It trades at 9 times earnings, which is comparably cheap across the large-cap biotech sector. It projects a strong 2021, releasing guidance for revenue of $25 billion and EPS in the $7 range .</p><p><blockquote>对于那些考虑投资吉利德的人来说，也许更好的消息是该公司从根本上来说相当强大。它的市盈率为9倍，在大型生物技术行业中相对便宜。它预计2021年将表现强劲，发布的收入指引为250亿美元，每股收益在7美元左右。</blockquote></p><p>Put simply, the company trades at an attractive price relative to the earnings it generates, and the hope is that patients start treatment for other viral and chronic (non-COVID) illnesses now that the pandemic has waned a bit in the early part of the year.</p><p><blockquote>简而言之，相对于其产生的收入，该公司的交易价格具有吸引力，希望患者能够开始治疗其他病毒性和慢性（非新冠）疾病，因为疫情在今年年初有所减弱。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3e7203dcf348bdd13924f561f04db9af\" tg-width=\"720\" tg-height=\"435\" referrerpolicy=\"no-referrer\"><b>DISH Network</b></p><p><blockquote><b>碟形网络</b></blockquote></p><p>Despite a stagnant stock price --<b>DISH Network</b>(NASDAQ:DISH)has fallen from just under $50 per share to around $35 today -- there is reason to believe a comeback is in the works. The stock currently trades at 11 times earnings, relatively cheap based on today's standards, and posted strong revenue growth in 2020, up about 40% from 2019.</p><p><blockquote>尽管股价停滞不前--<b>碟形网络</b>（纳斯达克：DISH）的股价已从每股略低于50美元跌至今天的35美元左右——有理由相信股价正在卷土重来。该股目前的市盈率为11倍，以今天的标准来看相对便宜，2020年收入增长强劲，较2019年增长约40%。</blockquote></p><p>DISH has engaged in a few creative partnerships; perhaps the most promising of the bunchis a pact with DraftKings, which seeks to offer sports betting from DISH set-top boxes. The underlying current here is that DISH Network has shown an ability to think outside the box, which is reflected in itsprofitability measures. It is a buy at its current price, and has an opportunity to stage a comeback in the coming years.</p><p><blockquote>DISH参与了一些创造性的合作；也许其中最有前途的是与DraftKings的协议，该协议旨在通过碟形机顶盒提供体育博彩。这里的潜在趋势是，DISH Network已经表现出了跳出框框思考的能力，这反映在其盈利能力指标上。以目前的价格买入，并有机会在未来几年卷土重来。</blockquote></p><p><b>Tupperware Brands</b></p><p><blockquote><b>特百惠品牌</b></blockquote></p><p>While not the most high-flying name you've ever heard,<b>Tupperware Brands</b>(NYSE:TUP)simply runs a sustainably profitable business. Last year's earnings were $2.24 a share, and the stock currently trades around $25 per share, leading to a current price-to-earnings ratio of only about 11. While overall sales were down in 2020, profitable sales growth rose, a sign that the company is still able to control costs and make money in the most difficult of circumstances.</p><p><blockquote>虽然不是你听过的最崇高的名字，<b>特百惠品牌</b>（纽约证券交易所股票代码：TUP）只是经营一项可持续盈利的业务。去年的每股收益为2.24美元，该股目前的交易价格约为每股25美元，导致目前的市盈率仅为11左右。虽然2020年整体销售额下降，但盈利销售额增长上升，这表明该公司仍然能够在最困难的情况下控制成本并赚钱。</blockquote></p><p>The stock has also lost two-thirds of its value since 2013 but remains profitable. According to its year-end press release, the company has been successful in restructuring its debt and executing on its turnaround plans (especially concerning its core businesses). Shares remain cheap for the moment, but the fact remains: The company makes money and has the financials to prove it.</p><p><blockquote>自2013年以来，该股的价值也损失了三分之二，但仍保持盈利。根据其年终新闻稿，该公司已成功重组债务并执行扭亏为盈计划（特别是有关其核心业务）。目前股价仍然便宜，但事实仍然是：该公司赚钱，并且有财务数据证明这一点。</blockquote></p><p><b>When in doubt, seek value</b></p><p><blockquote><b>当有疑问时，寻求价值</b></blockquote></p><p>The basic premise of value investing is to find profitable companies that happen to be on sale in the open market. While single-stock investing is far from a guaranteed strategy, it's worth looking into seemingly \"forgotten\" companies that simply have not yet had their day in the sun. Companies that have demonstrated their ability to grow and sustain profitability are your best bet, especially when they're cheap.</p><p><blockquote>价值投资的基本前提是找到盈利的公司，而这些公司恰好在公开市场上出售。虽然单一股票投资远非一种有保证的策略，但值得关注那些看似“被遗忘”的公司，这些公司只是还没有成功。已经证明有能力增长和维持盈利能力的公司是你最好的选择，尤其是当它们很便宜的时候。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/02/wall-street-has-given-up-on-these-3-stocks-and-tha/\">Motley Fool</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":{"DISH":"Dish Network","GILD":"吉利德科学"},"source_url":"https://www.fool.com/investing/2021/04/02/wall-street-has-given-up-on-these-3-stocks-and-tha/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121666420","content_text":"It's never a bad time to search for beaten-down stocks that are profitable on paper.Searching forvalue stocksis pretty simple: Find financially robust companies that have performed poorly from a share price perspective, and buy them when they're down. When the share price comes back to reality, you'll be a winner. Wall Street has the habit of kicking a stock when it's down, as negative sentiment surrounding a particular name can spell doom for shareholders.For those seeking value, these moments present an opportunity. Here, we'll look at three value stocks that have seen better days, but also have a good chance at rebounding.Gilead SciencesOver the past five years,Gilead Sciences(NASDAQ:GILD)has managed to lose about 40% of its value on the open market, and has vastly underperformed apassively held index fundover the same period (as shown below). As a market leader in the oncology, HIV, and hepatitis C drug markets, respectively, the company produces a suite of antivirals for typically hard-to-treat illnesses. While Gilead was -- and is -- front-and-center during the pandemic in its production of Veklury (more commonly known as remdesivir), it is not one of the major vaccine producers.Perhaps the better news for those considering a Gilead investment is that the company is fundamentally quite strong. It trades at 9 times earnings, which is comparably cheap across the large-cap biotech sector. It projects a strong 2021, releasing guidance for revenue of $25 billion and EPS in the $7 range .Put simply, the company trades at an attractive price relative to the earnings it generates, and the hope is that patients start treatment for other viral and chronic (non-COVID) illnesses now that the pandemic has waned a bit in the early part of the year.DISH NetworkDespite a stagnant stock price --DISH Network(NASDAQ:DISH)has fallen from just under $50 per share to around $35 today -- there is reason to believe a comeback is in the works. The stock currently trades at 11 times earnings, relatively cheap based on today's standards, and posted strong revenue growth in 2020, up about 40% from 2019.DISH has engaged in a few creative partnerships; perhaps the most promising of the bunchis a pact with DraftKings, which seeks to offer sports betting from DISH set-top boxes. The underlying current here is that DISH Network has shown an ability to think outside the box, which is reflected in itsprofitability measures. It is a buy at its current price, and has an opportunity to stage a comeback in the coming years.Tupperware BrandsWhile not the most high-flying name you've ever heard,Tupperware Brands(NYSE:TUP)simply runs a sustainably profitable business. Last year's earnings were $2.24 a share, and the stock currently trades around $25 per share, leading to a current price-to-earnings ratio of only about 11. While overall sales were down in 2020, profitable sales growth rose, a sign that the company is still able to control costs and make money in the most difficult of circumstances.The stock has also lost two-thirds of its value since 2013 but remains profitable. According to its year-end press release, the company has been successful in restructuring its debt and executing on its turnaround plans (especially concerning its core businesses). Shares remain cheap for the moment, but the fact remains: The company makes money and has the financials to prove it.When in doubt, seek valueThe basic premise of value investing is to find profitable companies that happen to be on sale in the open market. While single-stock investing is far from a guaranteed strategy, it's worth looking into seemingly \"forgotten\" companies that simply have not yet had their day in the sun. Companies that have demonstrated their ability to grow and sustain profitability are your best bet, especially when they're cheap.","news_type":1,"symbols_score_info":{"GILD":0.9,"DISH":0.9}},"isVote":1,"tweetType":1,"viewCount":325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356411767,"gmtCreate":1616806081559,"gmtModify":1634523924798,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/356411767","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616780260,"share":"https://www.laohu8.com/m/news/1141686975?lang=zh_CN&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预计将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（以收益计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-27 01:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预计将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（以收益计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1,"symbols_score_info":{"ZH":0.9}},"isVote":1,"tweetType":1,"viewCount":412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344068221,"gmtCreate":1618360871963,"gmtModify":1634293495985,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/344068221","repostId":"1182935377","repostType":4,"repost":{"id":"1182935377","kind":"news","pubTimestamp":1618329478,"share":"https://www.laohu8.com/m/news/1182935377?lang=zh_CN&edition=full","pubTime":"2021-04-13 23:57","market":"us","language":"en","title":"KKR Sparks Bidding War For Toshiba Amid \"Civil War\" Among Tech Giant's Board Members<blockquote>科技巨头董事会成员之间的“内战”中，KKR引发了对东芝的竞购战</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182935377","media":"zerohedge","summary":"A week after Toshiba ADRs soared 22%following a Nikkei report that private equity giant CVC Capital ","content":"<p>A week after Toshiba ADRs soared 22%following a Nikkei report that private equity giant CVC Capital Partners has offered to acquire Toshiba through a tender offer that is expected to be worth more than $20 billion,The Financial Timesreports that that CVC<b>rival KKR is planning to outbid</b>as \"civil war\" broke out among<b>board members of the Japanese conglomerate, reportedly preparing to launch a coup to oust the chief executive</b>.</p><p><blockquote>日经新闻报道称，私募股权巨头CVC Capital Partners已提出通过要约收购东芝，预计价值超过200亿美元，东芝ADR飙升22%一周后，《金融时报》报道称，CVC<b>竞争对手KKR计划出价高于</b>随着“内战”的爆发<b>据报道，这家日本企业集团的董事会成员正准备发动政变罢免首席执行官</b>.</blockquote></p><p> At least two of Toshiba’s biggest shareholders have called upon the Toshiba board to seriously consider any bids from private equity-led consortiums, which would be likely to include a significant Japanese presence to satisfy regulatory sensitivity over a company deeply involved in the nuclear and defence industries.</p><p><blockquote>东芝至少有两名最大股东呼吁东芝董事会认真考虑私募股权主导的财团的任何出价，其中可能包括大量日本人的参与，以满足监管机构对一家深耕核能和国防工业的公司的敏感性。</blockquote></p><p> The headline pushed Toshiba ADRs up another 10%...</p><p><blockquote>这一头条新闻推动东芝ADR又上涨了10%……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4781476f0d7f95f98fbe979f05cf283f\" tg-width=\"500\" tg-height=\"270\">A Toshiba board meeting on Wednesday is expected to<b>debate a proposal from one of its members that Nobuaki Kurumatani resign immediately</b>as head of a company that he has led since it emerged from financial crisis in 2018</p><p><blockquote>东芝周三的董事会预计将<b>辩论其中一名成员提出的要求Nobuaki Kurumatani立即辞职的提案</b>作为他自2018年摆脱金融危机以来一直领导的公司的负责人</blockquote></p><p> The FT reportsthat people close to the company, whose largest investors include some of the region’s biggest activist funds, said that<b>Toshiba’s senior management had been thrown into “civil war” by the emergence of a preliminary buyout approach last week from the European private equity group CVC</b>- a company for which Kurumatani previously worked as head of Japan’s operations.</p><p><blockquote>据英国《金融时报》报道，接近该公司的人士表示，该公司最大的投资者包括该地区一些最大的激进基金<b>上周，欧洲私募股权集团CVC提出了初步收购方案，东芝的高级管理层陷入了“内战”</b>——Kurumatani曾在一家公司担任日本业务负责人。</blockquote></p><p> This would be<b>Japan's largest ever LBO.</b></p><p><blockquote>这将是<b>日本有史以来最大的杠杆收购。</b></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>KKR Sparks Bidding War For Toshiba Amid \"Civil War\" Among Tech Giant's Board Members<blockquote>科技巨头董事会成员之间的“内战”中，KKR引发了对东芝的竞购战</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{ 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23:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A week after Toshiba ADRs soared 22%following a Nikkei report that private equity giant CVC Capital Partners has offered to acquire Toshiba through a tender offer that is expected to be worth more than $20 billion,The Financial Timesreports that that CVC<b>rival KKR is planning to outbid</b>as \"civil war\" broke out among<b>board members of the Japanese conglomerate, reportedly preparing to launch a coup to oust the chief executive</b>.</p><p><blockquote>日经新闻报道称，私募股权巨头CVC Capital Partners已提出通过要约收购东芝，预计价值超过200亿美元，东芝ADR飙升22%一周后，《金融时报》报道称，CVC<b>竞争对手KKR计划出价高于</b>随着“内战”的爆发<b>据报道，这家日本企业集团的董事会成员正准备发动政变罢免首席执行官</b>.</blockquote></p><p> At least two of Toshiba’s biggest shareholders have called upon the Toshiba board to seriously consider any bids from private equity-led consortiums, which would be likely to include a significant Japanese presence to satisfy regulatory sensitivity over a company deeply involved in the nuclear and defence industries.</p><p><blockquote>东芝至少有两名最大股东呼吁东芝董事会认真考虑私募股权主导的财团的任何出价，其中可能包括大量日本人的参与，以满足监管机构对一家深耕核能和国防工业的公司的敏感性。</blockquote></p><p> The headline pushed Toshiba ADRs up another 10%...</p><p><blockquote>这一头条新闻推动东芝ADR又上涨了10%……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4781476f0d7f95f98fbe979f05cf283f\" tg-width=\"500\" tg-height=\"270\">A Toshiba board meeting on Wednesday is expected to<b>debate a proposal from one of its members that Nobuaki Kurumatani resign immediately</b>as head of a company that he has led since it emerged from financial crisis in 2018</p><p><blockquote>东芝周三的董事会预计将<b>辩论其中一名成员提出的要求Nobuaki Kurumatani立即辞职的提案</b>作为他自2018年摆脱金融危机以来一直领导的公司的负责人</blockquote></p><p> The FT reportsthat people close to the company, whose largest investors include some of the region’s biggest activist funds, said that<b>Toshiba’s senior management had been thrown into “civil war” by the emergence of a preliminary buyout approach last week from the European private equity group CVC</b>- a company for which Kurumatani previously worked as head of Japan’s operations.</p><p><blockquote>据英国《金融时报》报道，接近该公司的人士表示，该公司最大的投资者包括该地区一些最大的激进基金<b>上周，欧洲私募股权集团CVC提出了初步收购方案，东芝的高级管理层陷入了“内战”</b>——Kurumatani曾在一家公司担任日本业务负责人。</blockquote></p><p> This would be<b>Japan's largest ever LBO.</b></p><p><blockquote>这将是<b>日本有史以来最大的杠杆收购。</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/kkr-sparks-bidding-war-toshiba-amid-civil-war-among-tech-giants-board-members\">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":{},"source_url":"https://www.zerohedge.com/markets/kkr-sparks-bidding-war-toshiba-amid-civil-war-among-tech-giants-board-members","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182935377","content_text":"A week after Toshiba ADRs soared 22%following a Nikkei report that private equity giant CVC Capital Partners has offered to acquire Toshiba through a tender offer that is expected to be worth more than $20 billion,The Financial Timesreports that that CVCrival KKR is planning to outbidas \"civil war\" broke out amongboard members of the Japanese conglomerate, reportedly preparing to launch a coup to oust the chief executive.\nAt least two of Toshiba’s biggest shareholders have called upon the Toshiba board to seriously consider any bids from private equity-led consortiums, which would be likely to include a significant Japanese presence to satisfy regulatory sensitivity over a company deeply involved in the nuclear and defence industries.\nThe headline pushed Toshiba ADRs up another 10%...\nA Toshiba board meeting on Wednesday is expected todebate a proposal from one of its members that Nobuaki Kurumatani resign immediatelyas head of a company that he has led since it emerged from financial crisis in 2018\nThe FT reportsthat people close to the company, whose largest investors include some of the region’s biggest activist funds, said thatToshiba’s senior management had been thrown into “civil war” by the emergence of a preliminary buyout approach last week from the European private equity group CVC- a company for which Kurumatani previously worked as head of Japan’s operations.\nThis would beJapan's largest ever LBO.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342816751,"gmtCreate":1618197619873,"gmtModify":1634294479659,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/342816751","repostId":"1137529737","repostType":4,"repost":{"id":"1137529737","kind":"news","pubTimestamp":1618184239,"share":"https://www.laohu8.com/m/news/1137529737?lang=zh_CN&edition=full","pubTime":"2021-04-12 07:37","market":"us","language":"en","title":"JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week<blockquote>摩根大通、英伟达、高盛、Coinbase等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137529737","media":"Barrons","summary":"First-quarter earnings season kicks off this week, beginning as always with results from several of ","content":"<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed&nbsp;by Bank of&nbsp;America and Citigroup on Thursday and Morgan Stanley on Friday.</p><p><blockquote>第一季度财报季将于本周拉开帷幕，一如既往地以美国几家最大银行的业绩开始。高盛集团、摩根大通和富国银行周三发布报告，美国银行和花旗集团周四发布报告，摩根士丹利周五发布报告。</blockquote></p><p>Other notable companies reporting this week include industrial&nbsp;supplier&nbsp;Fastenalon Tuesday.Delta Air Lines,PepsiCo,and&nbsp;UnitedHealth Group&nbsp;publish results on Thursday. And&nbsp;Kansas City Southern&nbsp;reports on Friday.&nbsp; A total of 22&nbsp;S&amp;P 500&nbsp;companies report this week, followed by 64 next week.</p><p><blockquote>本周发布报告的其他著名公司包括工业供应商Fastenalon Tuesday。达美航空、百事可乐和联合健康集团周四公布业绩。堪萨斯城南方周五发布报告。本周共有22家标准普尔500指数公司发布报告，下周将有64家公司发布报告。</blockquote></p><p><img src=\"https://static.tigerbbs.com/ac3c413681d3a9e134223c4d1a02d883\" tg-width=\"1410\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.</p><p><blockquote>对于经济数据来说，这也是忙碌的一周。周二，美国劳工统计局公布3月份消费者价格指数，全国独立企业联合会发布3月份小企业乐观指数。周四，人口普查局将公布3月份零售销售数据。周五，密歇根大学发布了四月份的消费者信心指数。</blockquote></p><p>Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.</p><p><blockquote>本周公布的房地产市场数据包括周四公布的全国住宅建筑商协会NAHB/富国银行4月份住房市场指数和周五公布的人口普查局3月份新住宅建设数据。</blockquote></p><p><b>Monday 4/12</b></p><p><blockquote><b>星期一4/12</b></blockquote></p><p>Nvidia&nbsp;hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.</p><p><blockquote>英伟达在GPU技术会议的同时举办了2021年投资者日。英伟达首席执行官黄仁勋将发表主题演讲。</blockquote></p><p><b>Tuesday 4/13</b></p><p><blockquote><b>星期二4/13</b></blockquote></p><p>Fastenal reports quarterly results.</p><p><blockquote>Fastenal报告季度业绩。</blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.</p><p><blockquote><b>劳工局</b>统计局报告了三月份的消费者价格指数。经济学家预测月度增长0.4%，与2月份数据一致。剔除波动较大的食品和能源价格的核心CPI预计将上涨0.2%，2月份小幅上涨0.1%。</blockquote></p><p><b>The National Federation</b>&nbsp;of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.</p><p><blockquote><b>全国联合会</b>独立企业发布三月份小企业乐观指数。普遍估计为98，高于2月份的95.8。</blockquote></p><p><b>Wednesday 4/14</b></p><p><blockquote><b>星期三4/14</b></blockquote></p><p><b>Earnings season begins</b>&nbsp;in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.</p><p><blockquote><b>财报季开始</b>一些最大的货币中心和投资银行认真报告。摩根大通、富国银行、高盛集团盘前发布一季度业绩。</blockquote></p><p>First Republic Bankreleases earnings.</p><p><blockquote>第一共和银行发布收益。</blockquote></p><p><b>Coinbase Global</b>&nbsp;is set to&nbsp;make its Wall Street debut&nbsp;on Wednesday through a direct listing of its shares on the Nasdaq.</p><p><blockquote><b>比特币基地全球</b>该公司将于周三通过在纳斯达克直接上市的方式首次亮相华尔街。</blockquote></p><p><b>The BLS reports</b>&nbsp;export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.</p><p><blockquote><b>劳工统计局报告</b>3月进出口价格数据。预计出口价格环比上涨1%，而进口价格预计上涨0.8%。相比之下，2月份分别上涨1.6%和1.3%。</blockquote></p><p><b>The Federal Reserve</b>&nbsp;releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.</p><p><blockquote><b>美联储</b>今年发布了八次褐皮书中的第二次。褐皮书从12个美联储区收集了有关当前经济状况的轶事信息。</blockquote></p><p><b>Thursday 4/15</b></p><p><blockquote><b>星期四4/15</b></blockquote></p><p>Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.</p><p><blockquote>美国银行、贝莱德、嘉信理财、花旗集团、达美航空、百事可乐、PPG Industries、Truist Financial、美国。合众银行和联合健康集团报告季度业绩。</blockquote></p><p><b>The National Association</b>&nbsp;of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.</p><p><blockquote><b>全国协会</b>房屋建筑商协会发布了4月份NAHB/富国银行住房市场指数。经济学家预测为84.5，高于3月份的数据。任何高于50的读数都表明房屋建筑商看好未来六个月的房地产市场。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.</p><p><blockquote><b>人口普查局</b>报告3月份零售销售数据。看涨期权普遍认为消费者支出继2月份下降3%后，环比将增长1.3%。</blockquote></p><p><b>Friday 4/16</b></p><p><blockquote><b>星期五4/16</b></blockquote></p><p>Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and&nbsp;State Street&nbsp;hold conference calls to discuss earnings.</p><p><blockquote>纽约梅隆银行、公民金融集团、堪萨斯南方银行、摩根士丹利、PNC金融服务集团和道富银行在评级召开会议讨论收益。</blockquote></p><p><b>The University of Michigan</b>&nbsp;releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.</p><p><blockquote><b>密歇根大学</b>发布四月份消费者信心指数。预期读数为88。3月份的84.9是一年前以来的最高水平。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.</p><p><blockquote><b>人口普查局</b>报告3月份新住宅建设数据。经济学家预测，经季节调整后的新屋开工年率为161万套，环比增长13%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week<blockquote>摩根大通、英伟达、高盛、Coinbase等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week<blockquote>摩根大通、英伟达、高盛、Coinbase等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-12 07:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed&nbsp;by Bank of&nbsp;America and Citigroup on Thursday and Morgan Stanley on Friday.</p><p><blockquote>第一季度财报季将于本周拉开帷幕，一如既往地以美国几家最大银行的业绩开始。高盛集团、摩根大通和富国银行周三发布报告，美国银行和花旗集团周四发布报告，摩根士丹利周五发布报告。</blockquote></p><p>Other notable companies reporting this week include industrial&nbsp;supplier&nbsp;Fastenalon Tuesday.Delta Air Lines,PepsiCo,and&nbsp;UnitedHealth Group&nbsp;publish results on Thursday. And&nbsp;Kansas City Southern&nbsp;reports on Friday.&nbsp; A total of 22&nbsp;S&amp;P 500&nbsp;companies report this week, followed by 64 next week.</p><p><blockquote>本周发布报告的其他著名公司包括工业供应商Fastenalon Tuesday。达美航空、百事可乐和联合健康集团周四公布业绩。堪萨斯城南方周五发布报告。本周共有22家标准普尔500指数公司发布报告，下周将有64家公司发布报告。</blockquote></p><p><img src=\"https://static.tigerbbs.com/ac3c413681d3a9e134223c4d1a02d883\" tg-width=\"1410\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.</p><p><blockquote>对于经济数据来说，这也是忙碌的一周。周二，美国劳工统计局公布3月份消费者价格指数，全国独立企业联合会发布3月份小企业乐观指数。周四，人口普查局将公布3月份零售销售数据。周五，密歇根大学发布了四月份的消费者信心指数。</blockquote></p><p>Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.</p><p><blockquote>本周公布的房地产市场数据包括周四公布的全国住宅建筑商协会NAHB/富国银行4月份住房市场指数和周五公布的人口普查局3月份新住宅建设数据。</blockquote></p><p><b>Monday 4/12</b></p><p><blockquote><b>星期一4/12</b></blockquote></p><p>Nvidia&nbsp;hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.</p><p><blockquote>英伟达在GPU技术会议的同时举办了2021年投资者日。英伟达首席执行官黄仁勋将发表主题演讲。</blockquote></p><p><b>Tuesday 4/13</b></p><p><blockquote><b>星期二4/13</b></blockquote></p><p>Fastenal reports quarterly results.</p><p><blockquote>Fastenal报告季度业绩。</blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.</p><p><blockquote><b>劳工局</b>统计局报告了三月份的消费者价格指数。经济学家预测月度增长0.4%，与2月份数据一致。剔除波动较大的食品和能源价格的核心CPI预计将上涨0.2%，2月份小幅上涨0.1%。</blockquote></p><p><b>The National Federation</b>&nbsp;of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.</p><p><blockquote><b>全国联合会</b>独立企业发布三月份小企业乐观指数。普遍估计为98，高于2月份的95.8。</blockquote></p><p><b>Wednesday 4/14</b></p><p><blockquote><b>星期三4/14</b></blockquote></p><p><b>Earnings season begins</b>&nbsp;in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.</p><p><blockquote><b>财报季开始</b>一些最大的货币中心和投资银行认真报告。摩根大通、富国银行、高盛集团盘前发布一季度业绩。</blockquote></p><p>First Republic Bankreleases earnings.</p><p><blockquote>第一共和银行发布收益。</blockquote></p><p><b>Coinbase Global</b>&nbsp;is set to&nbsp;make its Wall Street debut&nbsp;on Wednesday through a direct listing of its shares on the Nasdaq.</p><p><blockquote><b>比特币基地全球</b>该公司将于周三通过在纳斯达克直接上市的方式首次亮相华尔街。</blockquote></p><p><b>The BLS reports</b>&nbsp;export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.</p><p><blockquote><b>劳工统计局报告</b>3月进出口价格数据。预计出口价格环比上涨1%，而进口价格预计上涨0.8%。相比之下，2月份分别上涨1.6%和1.3%。</blockquote></p><p><b>The Federal Reserve</b>&nbsp;releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.</p><p><blockquote><b>美联储</b>今年发布了八次褐皮书中的第二次。褐皮书从12个美联储区收集了有关当前经济状况的轶事信息。</blockquote></p><p><b>Thursday 4/15</b></p><p><blockquote><b>星期四4/15</b></blockquote></p><p>Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.</p><p><blockquote>美国银行、贝莱德、嘉信理财、花旗集团、达美航空、百事可乐、PPG Industries、Truist Financial、美国。合众银行和联合健康集团报告季度业绩。</blockquote></p><p><b>The National Association</b>&nbsp;of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.</p><p><blockquote><b>全国协会</b>房屋建筑商协会发布了4月份NAHB/富国银行住房市场指数。经济学家预测为84.5，高于3月份的数据。任何高于50的读数都表明房屋建筑商看好未来六个月的房地产市场。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.</p><p><blockquote><b>人口普查局</b>报告3月份零售销售数据。看涨期权普遍认为消费者支出继2月份下降3%后，环比将增长1.3%。</blockquote></p><p><b>Friday 4/16</b></p><p><blockquote><b>星期五4/16</b></blockquote></p><p>Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and&nbsp;State Street&nbsp;hold conference calls to discuss earnings.</p><p><blockquote>纽约梅隆银行、公民金融集团、堪萨斯南方银行、摩根士丹利、PNC金融服务集团和道富银行在评级召开会议讨论收益。</blockquote></p><p><b>The University of Michigan</b>&nbsp;releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.</p><p><blockquote><b>密歇根大学</b>发布四月份消费者信心指数。预期读数为88。3月份的84.9是一年前以来的最高水平。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.</p><p><blockquote><b>人口普查局</b>报告3月份新住宅建设数据。经济学家预测，经季节调整后的新屋开工年率为161万套，环比增长13%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MS":"摩根士丹利",".SPX":"S&P 500 Index","GS":"高盛",".DJI":"道琼斯","JPM":"摩根大通","WFC":"富国银行","NVDA":"英伟达",".IXIC":"NASDAQ Composite","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137529737","content_text":"First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed by Bank of America and Citigroup on Thursday and Morgan Stanley on Friday.Other notable companies reporting this week include industrial supplier Fastenalon Tuesday.Delta Air Lines,PepsiCo,and UnitedHealth Group publish results on Thursday. And Kansas City Southern reports on Friday.  A total of 22 S&P 500 companies report this week, followed by 64 next week.It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.Monday 4/12Nvidia hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.Tuesday 4/13Fastenal reports quarterly results.The Bureau of Labor Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.The National Federation of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.Wednesday 4/14Earnings season begins in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.First Republic Bankreleases earnings.Coinbase Global is set to make its Wall Street debut on Wednesday through a direct listing of its shares on the Nasdaq.The BLS reports export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.The Federal Reserve releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.Thursday 4/15Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.The Census Bureau reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.Friday 4/16Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and State Street hold conference calls to discuss earnings.The University of Michigan releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.The Census Bureau reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.","news_type":1,"symbols_score_info":{".SPX":0.9,"MS":0.9,"JPM":0.9,"WFC":0.9,"COIN":0.9,".IXIC":0.9,"GS":0.9,"NVDA":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":368,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379907959,"gmtCreate":1618648026371,"gmtModify":1634291553007,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/379907959","repostId":"1165321503","repostType":4,"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348524040,"gmtCreate":1617943986880,"gmtModify":1634295600555,"author":{"id":"3579395105035655","authorId":"3579395105035655","name":"GabrielWoon","avatar":"https://static.tigerbbs.com/a52c68e0b84d7f61c9d9ccf225bb2bb8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579395105035655","idStr":"3579395105035655"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348524040","repostId":"1166602213","repostType":4,"repost":{"id":"1166602213","kind":"news","pubTimestamp":1617941256,"share":"https://www.laohu8.com/m/news/1166602213?lang=zh_CN&edition=full","pubTime":"2021-04-09 12:07","market":"us","language":"en","title":"America's economy could be heading for a golden era of growth. But risks remain<blockquote>美国经济可能正在走向增长的黄金时代。但风险依然存在</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166602213","media":"cnn","summary":"London (CNN Business) America's economy could be heading for a golden era of growth. But higher pric","content":"<p>London (CNN Business)&nbsp;America's economy could be heading for a golden era of growth. But higher prices and the coronavirus pandemic still present risks.</p><p><blockquote>伦敦（CNN商业）美国经济可能正走向一个增长的黄金时代。但价格上涨和冠状病毒大流行仍然存在风险。</blockquote></p><p>What's happening: \"It is possible that we will have a Goldilocks moment — fast and sustained growth, inflation that moves up gently (but not too much) and interest rates that rise (but not too much),\" JPMorgan Chase CEO Jamie Dimon said in his widely-read annual letter to shareholders this week.</p><p><blockquote>正在发生的事情：摩根大通首席执行官杰米·戴蒙(Jamie Dimon)表示：“我们可能会迎来一个金发姑娘时刻——快速而持续的增长、通胀温和上升（但不会太多）以及利率上升（但不会太多）。”本周他致股东的年度信被广泛阅读。</blockquote></p><p>Dimon's optimism comes after the International Monetary Fund said that President Joe Biden's $1.9 trillion stimulus package will boost the US economy to 6.4% growth this year. That would be the fastest annual growth rate in the United States since 1984 under President Ronald Reagan.</p><p><blockquote>戴蒙的乐观情绪是在国际货币基金组织表示总统乔·拜登1.9万亿美元的刺激计划将推动美国经济今年增长6.4%之后做出的。这将是自1984年罗纳德·里根总统执政以来美国最快的年增长率。</blockquote></p><p>Economic data continues to support rosy predictions.</p><p><blockquote>经济数据继续支持乐观的预测。</blockquote></p><p>This week, the Institute for Supply Management published its monthly report on the US services sector, which accounts for 88% of America's gross domestic product. The group's services index for March jumped to 63.7, the highest level ever recorded.</p><p><blockquote>本周，供应管理协会发布了美国服务业月度报告，服务业占美国国内生产总值的88%。该集团3月份的服务指数跃升至63.7，为有记录以来的最高水平。</blockquote></p><p>\"There is clearly a big surge in activity underway,\" said Paul Ashworth, chief US economist at Capital Economics.</p><p><blockquote>凯投宏观(Capital Economics)首席美国经济学家保罗·阿什沃斯(Paul Ashworth)表示：“活动显然正在大幅激增。”</blockquote></p><p>This data has helped keep US stocks near record highs. But an undercurrent of anxiety remains. CNN Business' Fear &amp; Greed Index shows that market sentiment is in \"greedy\" territory, up from a neutral reading one week ago. But investors aren't throwing caution to the wind.</p><p><blockquote>这一数据帮助美股保持在历史高位附近。但焦虑的暗流依然存在。CNN Business的恐惧与贪婪指数显示，市场情绪处于“贪婪”区域，高于一周前的中性读数。但投资者并没有把谨慎抛在脑后。</blockquote></p><p>In a recent note to clients, Tobias Levkovich, Citigroup's chief U.S. equity strategist, warned that the fear of missing out appears to be dominating.</p><p><blockquote>花旗集团首席美国股票策略师托拜厄斯·列夫科维奇(Tobias Levkovich)在最近给客户的一份报告中警告说，对错过机会的恐惧似乎占主导地位。</blockquote></p><p>\"There's a 1999 perspective being noted with pressure for fund managers to participate in rising share prices even if there's also a recognition that it could end badly,\" Levkovich wrote, referring to the dot-com bubble that popped at the turn of the millennium.</p><p><blockquote>列夫科维奇在谈到世纪之交破裂的互联网泡沫时写道：“人们注意到，1999年的前景给基金经理带来了参与股价上涨的压力，即使人们也认识到这可能会以糟糕的结局告终。”</blockquote></p><p>He worries that investors are overlooking the risk that the Federal Reserve could change course and take some stimulus measures off the table, as well as the impact of \"plausible tax increases being proposed by the Biden administration.\"</p><p><blockquote>他担心投资者忽视了美联储可能改变方针并取消一些刺激措施的风险，以及“拜登政府提出的看似合理的增税措施”的影响。</blockquote></p><p>\"Indeed, all developments are perceived as positive news,\" Levkovich said.</p><p><blockquote>“事实上，所有事态发展都被视为积极消息，”列夫科维奇说。</blockquote></p><p>He's not the only one suggesting caution. On Wednesday, Dr. Anthony Fauci, the top US infectious disease expert, told CNN's Anderson Cooper that the number of new Covid-19 cases has plateaued at a \"disturbingly high level,\" and that the country could face yet another spike in infections.</p><p><blockquote>他不是唯一一个建议谨慎的人。周三，美国顶级传染病专家安东尼·福奇博士告诉美国有线电视新闻网(CNN)的安德森·库珀(Anderson Cooper)，新的Covid-19病例数量已稳定在“令人不安的高水平”，该国可能面临另一次感染高峰。</blockquote></p><p>\"It's almost a race between getting people vaccinated and this surge that seems to want to increase,\" Fauci said.</p><p><blockquote>福奇说：“这几乎是一场让人们接种疫苗和这种似乎想要增加的激增之间的竞赛。”</blockquote></p><p>The United States is vaccinating people quickly, with just over 33% of the population, or more than 109 million people, having received at least one dose. Yet the pace needs to increase now that that the virus variant first identified in the United Kingdom — known to be more transmissible and believed to be more deadly — is the country's most common strain.</p><p><blockquote>美国正在迅速为人们接种疫苗，超过33%的人口，即超过1.09亿人，至少接种了一剂疫苗。然而，现在需要加快步伐，因为在英国首次发现的病毒变种——已知传播性更强，据信更致命——是该国最常见的毒株。</blockquote></p><p><b>That's one big stock sale</b></p><p><blockquote><b>这是一次大的股票销售</b></blockquote></p><p>Tencent's biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, creating a massive war chest to invest in other ventures.</p><p><blockquote>腾讯控股最大股东出售了这家中国社交媒体和游戏巨头价值147亿美元的股票，创造了大量资金来投资其他企业。</blockquote></p><p>The latest: Prosus (PROSY), a spin-off by South African media and internet investment firm Naspers, sold a 2% stake in Tencent, the Chinese tech giant said in a Hong Kong Stock Exchange filing on Thursday.</p><p><blockquote>最新消息：南非媒体和互联网投资公司Naspers分拆出来的Prosus(PROSY)出售了腾讯控股2%的股份，这家中国科技巨头周四在港交所提交的文件中表示。</blockquote></p><p>Tencent (TCEHY), which reported a strong financial year during the pandemic, is by far Nasper's most successful investment, my CNN Business colleague Laura He reports.</p><p><blockquote>据我的CNN商业同事Laura He报道，腾讯控股(TCEHY)在疫情期间报告了强劲的财年，是迄今为止Nasper最成功的投资。</blockquote></p><p>The deal is the biggest block trade ever, according to data provider Refinitiv. Block trades are typically arranged directly between big institutional investors rather than on public stock exchanges.</p><p><blockquote>据数据提供商Refinitiv称，这笔交易是有史以来最大的大宗交易。大宗交易通常直接在大型机构投资者之间安排，而不是在公共证券交易所。</blockquote></p><p>Investor insight: Tencent's stock dropped 1.5% on Thursday in Hong Kong after the news. It has gained about 80% since Prosus was listed on the Amsterdam stock exchange in 2019.</p><p><blockquote>投资者洞察：消息传出后，腾讯控股股价周四在港下跌1.5%。自2019年Prosus在阿姆斯特丹证券交易所上市以来，该股已上涨约80%。</blockquote></p><p>After completion of the deal, Prosus will remain Tencent's single largest shareholder, with a 28.9% stake. But it will lose its controlling shareholder status, which under Hong Kong listing rules is granted to investors who hold at least 30% of voting rights.</p><p><blockquote>交易完成后，Prosus仍将是腾讯控股的单一最大股东，持有28.9%的股份。但它将失去控股股东地位，根据香港上市规则，控股股东地位授予持有至少30%投票权的投资者。</blockquote></p><p>What's next: The question now is what Prosus will do with all its cash. So far, the company isn't providing many details; in a statement, it said it plans to \"use the proceeds of the sale to increase its financial flexibility to invest in growth, plus for general corporate purposes.\"</p><p><blockquote>下一步：现在的问题是Prosus将如何处理其所有现金。到目前为止，该公司没有提供太多细节；该公司在一份声明中表示，计划“利用出售所得来提高其财务灵活性，以投资于增长以及一般企业用途。”</blockquote></p><p><b>Investing small has been a winning strategy</b></p><p><blockquote><b>小额投资一直是一种制胜策略</b></blockquote></p><p>The S&amp;P 500 and the Dow keep hitting record highs as blue-chip companies like Caterpillar, Chevron and GM soar.</p><p><blockquote>随着卡特彼勒、雪佛龙和通用汽车等蓝筹公司的飙升，标普500和道琼斯指数不断创下历史新高。</blockquote></p><p>But investors shouldn't ignore smaller stocks, my CNN Business colleague Paul R. La Monica reports.</p><p><blockquote>但我的CNN商业同事保罗·R·拉莫尼卡(Paul R.La Monica)报道称，投资者不应忽视规模较小的股票。</blockquote></p><p></p><p>The Russell 2000, an index that's home to many small cap US stocks, is up about 13% so far in 2021. That's better than the gains for the Dow, S&amp;P 500 and the Mega Tech-dominated Nasdaq, which are up between 6% and 10% this year.</p><p><blockquote>罗素2000指数是许多美国小盘股的所在地，2021年迄今已上涨约13%。这好于道琼斯指数、标普500和以大型科技股为主的纳斯达克的涨幅，这些指数今年上涨了6%至10%。</blockquote></p><p>Smaller stocks began to rally at the end of 2020 after getting hit hard during the onset of the Covid-19 pandemic in the United States a year ago. They've continued to surge ever since.</p><p><blockquote>规模较小的股票在一年前美国新冠肺炎疫情爆发期间遭受重创后，于2020年底开始反弹。从那以后，它们持续激增。</blockquote></p><p>\"The Russell 2000 has had its best back-to-back quarterly gains in history,\" Megan Horneman, director of portfolio strategy at Verdence Capital Advisors, said in a recent report.</p><p><blockquote>Verdence Capital Advisors投资组合策略总监Megan Horneman在最近的一份报告中表示：“罗素2000指数创下了历史上最好的连续季度涨幅。”</blockquote></p><p>The backstory: Stimulus checks are lifting consumer spending and the domestic economy. Many Russell 2000 companies have a bigger chunk of their sales coming from the United States than from international markets.</p><p><blockquote>背景故事：刺激支票正在提振消费者支出和国内经济。许多罗素2000指数公司的销售额来自美国，而不是来自国际市场。</blockquote></p><p>\"Even after a rotation towards value and small cap stocks in recent months, relative to history they still look cheap compared to large-cap growth stocks and should benefit from a very strong economic surge,\" said David Kelly, chief global strategist with JPMorgan Funds.</p><p><blockquote>摩根大通首席全球策略师David Kelly表示：“即使在近几个月转向价值股和小盘股之后，相对于历史而言，与大盘成长股相比，它们看起来仍然很便宜，应该会受益于非常强劲的经济飙升。”基金。</blockquote></p><p><b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p>Conagra (CAG) and Constellation Brands (STZ) report results before US markets open. Levi Strauss (LEVI) follows after the close.</p><p><blockquote>康尼格拉(CAG)和星座品牌(STZ)在美国市场开盘前公布业绩。李维斯（李维）在收盘后紧随其后。</blockquote></p><p>Also today:</p><p><blockquote>同样在今天：</blockquote></p><p><ul><li>US initial unemployment claims for last week post at 8:30 a.m. ET.</li><li>Federal Reserve Chair Jerome Powell gives a speech on the global economy at 12 p.m. ET.</li></ul>Coming tomorrow: The Producer Price Index will provide a fresh look at US inflation trends.</p><p><blockquote><ul><li>美国东部时间上午8:30公布的上周首次申请失业救济人数。</li><li>美联储主席杰罗姆·鲍威尔将于美国东部时间中午12点就全球经济发表演讲。</li></ul>明天发布：生产者价格指数将为美国通胀趋势提供新的视角。</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>America's economy could be heading for a golden era of growth. But risks remain<blockquote>美国经济可能正在走向增长的黄金时代。但风险依然存在</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\">\nAmerica's economy could be heading for a golden era of growth. But risks remain<blockquote>美国经济可能正在走向增长的黄金时代。但风险依然存在</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-04-09 12:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>London (CNN Business)&nbsp;America's economy could be heading for a golden era of growth. But higher prices and the coronavirus pandemic still present risks.</p><p><blockquote>伦敦（CNN商业）美国经济可能正走向一个增长的黄金时代。但价格上涨和冠状病毒大流行仍然存在风险。</blockquote></p><p>What's happening: \"It is possible that we will have a Goldilocks moment — fast and sustained growth, inflation that moves up gently (but not too much) and interest rates that rise (but not too much),\" JPMorgan Chase CEO Jamie Dimon said in his widely-read annual letter to shareholders this week.</p><p><blockquote>正在发生的事情：摩根大通首席执行官杰米·戴蒙(Jamie Dimon)表示：“我们可能会迎来一个金发姑娘时刻——快速而持续的增长、通胀温和上升（但不会太多）以及利率上升（但不会太多）。”本周他致股东的年度信被广泛阅读。</blockquote></p><p>Dimon's optimism comes after the International Monetary Fund said that President Joe Biden's $1.9 trillion stimulus package will boost the US economy to 6.4% growth this year. That would be the fastest annual growth rate in the United States since 1984 under President Ronald Reagan.</p><p><blockquote>戴蒙的乐观情绪是在国际货币基金组织表示总统乔·拜登1.9万亿美元的刺激计划将推动美国经济今年增长6.4%之后做出的。这将是自1984年罗纳德·里根总统执政以来美国最快的年增长率。</blockquote></p><p>Economic data continues to support rosy predictions.</p><p><blockquote>经济数据继续支持乐观的预测。</blockquote></p><p>This week, the Institute for Supply Management published its monthly report on the US services sector, which accounts for 88% of America's gross domestic product. The group's services index for March jumped to 63.7, the highest level ever recorded.</p><p><blockquote>本周，供应管理协会发布了美国服务业月度报告，服务业占美国国内生产总值的88%。该集团3月份的服务指数跃升至63.7，为有记录以来的最高水平。</blockquote></p><p>\"There is clearly a big surge in activity underway,\" said Paul Ashworth, chief US economist at Capital Economics.</p><p><blockquote>凯投宏观(Capital Economics)首席美国经济学家保罗·阿什沃斯(Paul Ashworth)表示：“活动显然正在大幅激增。”</blockquote></p><p>This data has helped keep US stocks near record highs. But an undercurrent of anxiety remains. CNN Business' Fear &amp; Greed Index shows that market sentiment is in \"greedy\" territory, up from a neutral reading one week ago. But investors aren't throwing caution to the wind.</p><p><blockquote>这一数据帮助美股保持在历史高位附近。但焦虑的暗流依然存在。CNN Business的恐惧与贪婪指数显示，市场情绪处于“贪婪”区域，高于一周前的中性读数。但投资者并没有把谨慎抛在脑后。</blockquote></p><p>In a recent note to clients, Tobias Levkovich, Citigroup's chief U.S. equity strategist, warned that the fear of missing out appears to be dominating.</p><p><blockquote>花旗集团首席美国股票策略师托拜厄斯·列夫科维奇(Tobias Levkovich)在最近给客户的一份报告中警告说，对错过机会的恐惧似乎占主导地位。</blockquote></p><p>\"There's a 1999 perspective being noted with pressure for fund managers to participate in rising share prices even if there's also a recognition that it could end badly,\" Levkovich wrote, referring to the dot-com bubble that popped at the turn of the millennium.</p><p><blockquote>列夫科维奇在谈到世纪之交破裂的互联网泡沫时写道：“人们注意到，1999年的前景给基金经理带来了参与股价上涨的压力，即使人们也认识到这可能会以糟糕的结局告终。”</blockquote></p><p>He worries that investors are overlooking the risk that the Federal Reserve could change course and take some stimulus measures off the table, as well as the impact of \"plausible tax increases being proposed by the Biden administration.\"</p><p><blockquote>他担心投资者忽视了美联储可能改变方针并取消一些刺激措施的风险，以及“拜登政府提出的看似合理的增税措施”的影响。</blockquote></p><p>\"Indeed, all developments are perceived as positive news,\" Levkovich said.</p><p><blockquote>“事实上，所有事态发展都被视为积极消息，”列夫科维奇说。</blockquote></p><p>He's not the only one suggesting caution. On Wednesday, Dr. Anthony Fauci, the top US infectious disease expert, told CNN's Anderson Cooper that the number of new Covid-19 cases has plateaued at a \"disturbingly high level,\" and that the country could face yet another spike in infections.</p><p><blockquote>他不是唯一一个建议谨慎的人。周三，美国顶级传染病专家安东尼·福奇博士告诉美国有线电视新闻网(CNN)的安德森·库珀(Anderson Cooper)，新的Covid-19病例数量已稳定在“令人不安的高水平”，该国可能面临另一次感染高峰。</blockquote></p><p>\"It's almost a race between getting people vaccinated and this surge that seems to want to increase,\" Fauci said.</p><p><blockquote>福奇说：“这几乎是一场让人们接种疫苗和这种似乎想要增加的激增之间的竞赛。”</blockquote></p><p>The United States is vaccinating people quickly, with just over 33% of the population, or more than 109 million people, having received at least one dose. Yet the pace needs to increase now that that the virus variant first identified in the United Kingdom — known to be more transmissible and believed to be more deadly — is the country's most common strain.</p><p><blockquote>美国正在迅速为人们接种疫苗，超过33%的人口，即超过1.09亿人，至少接种了一剂疫苗。然而，现在需要加快步伐，因为在英国首次发现的病毒变种——已知传播性更强，据信更致命——是该国最常见的毒株。</blockquote></p><p><b>That's one big stock sale</b></p><p><blockquote><b>这是一次大的股票销售</b></blockquote></p><p>Tencent's biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, creating a massive war chest to invest in other ventures.</p><p><blockquote>腾讯控股最大股东出售了这家中国社交媒体和游戏巨头价值147亿美元的股票，创造了大量资金来投资其他企业。</blockquote></p><p>The latest: Prosus (PROSY), a spin-off by South African media and internet investment firm Naspers, sold a 2% stake in Tencent, the Chinese tech giant said in a Hong Kong Stock Exchange filing on Thursday.</p><p><blockquote>最新消息：南非媒体和互联网投资公司Naspers分拆出来的Prosus(PROSY)出售了腾讯控股2%的股份，这家中国科技巨头周四在港交所提交的文件中表示。</blockquote></p><p>Tencent (TCEHY), which reported a strong financial year during the pandemic, is by far Nasper's most successful investment, my CNN Business colleague Laura He reports.</p><p><blockquote>据我的CNN商业同事Laura He报道，腾讯控股(TCEHY)在疫情期间报告了强劲的财年，是迄今为止Nasper最成功的投资。</blockquote></p><p>The deal is the biggest block trade ever, according to data provider Refinitiv. Block trades are typically arranged directly between big institutional investors rather than on public stock exchanges.</p><p><blockquote>据数据提供商Refinitiv称，这笔交易是有史以来最大的大宗交易。大宗交易通常直接在大型机构投资者之间安排，而不是在公共证券交易所。</blockquote></p><p>Investor insight: Tencent's stock dropped 1.5% on Thursday in Hong Kong after the news. It has gained about 80% since Prosus was listed on the Amsterdam stock exchange in 2019.</p><p><blockquote>投资者洞察：消息传出后，腾讯控股股价周四在港下跌1.5%。自2019年Prosus在阿姆斯特丹证券交易所上市以来，该股已上涨约80%。</blockquote></p><p>After completion of the deal, Prosus will remain Tencent's single largest shareholder, with a 28.9% stake. But it will lose its controlling shareholder status, which under Hong Kong listing rules is granted to investors who hold at least 30% of voting rights.</p><p><blockquote>交易完成后，Prosus仍将是腾讯控股的单一最大股东，持有28.9%的股份。但它将失去控股股东地位，根据香港上市规则，控股股东地位授予持有至少30%投票权的投资者。</blockquote></p><p>What's next: The question now is what Prosus will do with all its cash. So far, the company isn't providing many details; in a statement, it said it plans to \"use the proceeds of the sale to increase its financial flexibility to invest in growth, plus for general corporate purposes.\"</p><p><blockquote>下一步：现在的问题是Prosus将如何处理其所有现金。到目前为止，该公司没有提供太多细节；该公司在一份声明中表示，计划“利用出售所得来提高其财务灵活性，以投资于增长以及一般企业用途。”</blockquote></p><p><b>Investing small has been a winning strategy</b></p><p><blockquote><b>小额投资一直是一种制胜策略</b></blockquote></p><p>The S&amp;P 500 and the Dow keep hitting record highs as blue-chip companies like Caterpillar, Chevron and GM soar.</p><p><blockquote>随着卡特彼勒、雪佛龙和通用汽车等蓝筹公司的飙升，标普500和道琼斯指数不断创下历史新高。</blockquote></p><p>But investors shouldn't ignore smaller stocks, my CNN Business colleague Paul R. La Monica reports.</p><p><blockquote>但我的CNN商业同事保罗·R·拉莫尼卡(Paul R.La Monica)报道称，投资者不应忽视规模较小的股票。</blockquote></p><p></p><p>The Russell 2000, an index that's home to many small cap US stocks, is up about 13% so far in 2021. That's better than the gains for the Dow, S&amp;P 500 and the Mega Tech-dominated Nasdaq, which are up between 6% and 10% this year.</p><p><blockquote>罗素2000指数是许多美国小盘股的所在地，2021年迄今已上涨约13%。这好于道琼斯指数、标普500和以大型科技股为主的纳斯达克的涨幅，这些指数今年上涨了6%至10%。</blockquote></p><p>Smaller stocks began to rally at the end of 2020 after getting hit hard during the onset of the Covid-19 pandemic in the United States a year ago. They've continued to surge ever since.</p><p><blockquote>规模较小的股票在一年前美国新冠肺炎疫情爆发期间遭受重创后，于2020年底开始反弹。从那以后，它们持续激增。</blockquote></p><p>\"The Russell 2000 has had its best back-to-back quarterly gains in history,\" Megan Horneman, director of portfolio strategy at Verdence Capital Advisors, said in a recent report.</p><p><blockquote>Verdence Capital Advisors投资组合策略总监Megan Horneman在最近的一份报告中表示：“罗素2000指数创下了历史上最好的连续季度涨幅。”</blockquote></p><p>The backstory: Stimulus checks are lifting consumer spending and the domestic economy. Many Russell 2000 companies have a bigger chunk of their sales coming from the United States than from international markets.</p><p><blockquote>背景故事：刺激支票正在提振消费者支出和国内经济。许多罗素2000指数公司的销售额来自美国，而不是来自国际市场。</blockquote></p><p>\"Even after a rotation towards value and small cap stocks in recent months, relative to history they still look cheap compared to large-cap growth stocks and should benefit from a very strong economic surge,\" said David Kelly, chief global strategist with JPMorgan Funds.</p><p><blockquote>摩根大通首席全球策略师David Kelly表示：“即使在近几个月转向价值股和小盘股之后，相对于历史而言，与大盘成长股相比，它们看起来仍然很便宜，应该会受益于非常强劲的经济飙升。”基金。</blockquote></p><p><b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p>Conagra (CAG) and Constellation Brands (STZ) report results before US markets open. Levi Strauss (LEVI) follows after the close.</p><p><blockquote>康尼格拉(CAG)和星座品牌(STZ)在美国市场开盘前公布业绩。李维斯（李维）在收盘后紧随其后。</blockquote></p><p>Also today:</p><p><blockquote>同样在今天：</blockquote></p><p><ul><li>US initial unemployment claims for last week post at 8:30 a.m. ET.</li><li>Federal Reserve Chair Jerome Powell gives a speech on the global economy at 12 p.m. ET.</li></ul>Coming tomorrow: The Producer Price Index will provide a fresh look at US inflation trends.</p><p><blockquote><ul><li>美国东部时间上午8:30公布的上周首次申请失业救济人数。</li><li>美联储主席杰罗姆·鲍威尔将于美国东部时间中午12点就全球经济发表演讲。</li></ul>明天发布：生产者价格指数将为美国通胀趋势提供新的视角。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/04/08/investing/premarket-stocks-trading/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://edition.cnn.com/2021/04/08/investing/premarket-stocks-trading/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166602213","content_text":"London (CNN Business) America's economy could be heading for a golden era of growth. But higher prices and the coronavirus pandemic still present risks.What's happening: \"It is possible that we will have a Goldilocks moment — fast and sustained growth, inflation that moves up gently (but not too much) and interest rates that rise (but not too much),\" JPMorgan Chase CEO Jamie Dimon said in his widely-read annual letter to shareholders this week.Dimon's optimism comes after the International Monetary Fund said that President Joe Biden's $1.9 trillion stimulus package will boost the US economy to 6.4% growth this year. That would be the fastest annual growth rate in the United States since 1984 under President Ronald Reagan.Economic data continues to support rosy predictions.This week, the Institute for Supply Management published its monthly report on the US services sector, which accounts for 88% of America's gross domestic product. The group's services index for March jumped to 63.7, the highest level ever recorded.\"There is clearly a big surge in activity underway,\" said Paul Ashworth, chief US economist at Capital Economics.This data has helped keep US stocks near record highs. But an undercurrent of anxiety remains. CNN Business' Fear & Greed Index shows that market sentiment is in \"greedy\" territory, up from a neutral reading one week ago. But investors aren't throwing caution to the wind.In a recent note to clients, Tobias Levkovich, Citigroup's chief U.S. equity strategist, warned that the fear of missing out appears to be dominating.\"There's a 1999 perspective being noted with pressure for fund managers to participate in rising share prices even if there's also a recognition that it could end badly,\" Levkovich wrote, referring to the dot-com bubble that popped at the turn of the millennium.He worries that investors are overlooking the risk that the Federal Reserve could change course and take some stimulus measures off the table, as well as the impact of \"plausible tax increases being proposed by the Biden administration.\"\"Indeed, all developments are perceived as positive news,\" Levkovich said.He's not the only one suggesting caution. On Wednesday, Dr. Anthony Fauci, the top US infectious disease expert, told CNN's Anderson Cooper that the number of new Covid-19 cases has plateaued at a \"disturbingly high level,\" and that the country could face yet another spike in infections.\"It's almost a race between getting people vaccinated and this surge that seems to want to increase,\" Fauci said.The United States is vaccinating people quickly, with just over 33% of the population, or more than 109 million people, having received at least one dose. Yet the pace needs to increase now that that the virus variant first identified in the United Kingdom — known to be more transmissible and believed to be more deadly — is the country's most common strain.That's one big stock saleTencent's biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, creating a massive war chest to invest in other ventures.The latest: Prosus (PROSY), a spin-off by South African media and internet investment firm Naspers, sold a 2% stake in Tencent, the Chinese tech giant said in a Hong Kong Stock Exchange filing on Thursday.Tencent (TCEHY), which reported a strong financial year during the pandemic, is by far Nasper's most successful investment, my CNN Business colleague Laura He reports.The deal is the biggest block trade ever, according to data provider Refinitiv. Block trades are typically arranged directly between big institutional investors rather than on public stock exchanges.Investor insight: Tencent's stock dropped 1.5% on Thursday in Hong Kong after the news. It has gained about 80% since Prosus was listed on the Amsterdam stock exchange in 2019.After completion of the deal, Prosus will remain Tencent's single largest shareholder, with a 28.9% stake. But it will lose its controlling shareholder status, which under Hong Kong listing rules is granted to investors who hold at least 30% of voting rights.What's next: The question now is what Prosus will do with all its cash. So far, the company isn't providing many details; in a statement, it said it plans to \"use the proceeds of the sale to increase its financial flexibility to invest in growth, plus for general corporate purposes.\"Investing small has been a winning strategyThe S&P 500 and the Dow keep hitting record highs as blue-chip companies like Caterpillar, Chevron and GM soar.But investors shouldn't ignore smaller stocks, my CNN Business colleague Paul R. La Monica reports.The Russell 2000, an index that's home to many small cap US stocks, is up about 13% so far in 2021. That's better than the gains for the Dow, S&P 500 and the Mega Tech-dominated Nasdaq, which are up between 6% and 10% this year.Smaller stocks began to rally at the end of 2020 after getting hit hard during the onset of the Covid-19 pandemic in the United States a year ago. They've continued to surge ever since.\"The Russell 2000 has had its best back-to-back quarterly gains in history,\" Megan Horneman, director of portfolio strategy at Verdence Capital Advisors, said in a recent report.The backstory: Stimulus checks are lifting consumer spending and the domestic economy. Many Russell 2000 companies have a bigger chunk of their sales coming from the United States than from international markets.\"Even after a rotation towards value and small cap stocks in recent months, relative to history they still look cheap compared to large-cap growth stocks and should benefit from a very strong economic surge,\" said David Kelly, chief global strategist with JPMorgan Funds.Up nextConagra (CAG) and Constellation Brands (STZ) report results before US markets open. Levi Strauss (LEVI) follows after the close.Also today:US initial unemployment claims for last week post at 8:30 a.m. ET.Federal Reserve Chair Jerome Powell gives a speech on the global economy at 12 p.m. ET.Coming tomorrow: The Producer Price Index will provide a fresh look at US inflation trends.","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":727,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}