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Grabdiamond

Grabdiamond

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2021-11-05

AGC next boom 💥

Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote>

2021-11-03

AGC

Lyft and Uber shares jumped in premarket trading<blockquote>Lyft和优步股价在盘前交易中上涨</blockquote>

2021-09-13

Go go go

@thesushimao:$Romeo Power, Inc.(RMO)$when will you recover?

2021-08-26

空港了

@依淇呵呵:空？不空？空？？？不空？？？$纳指三倍做多ETF(TQQQ)$$纳指三倍做空ETF(SQQQ)$$标普500三倍做空ETF(SPXU)$

2021-08-08

Hold

@biotech123:$Direxion Daily FTSE China bull 3x Shares(YINN)$hold long term. please like

2021-08-08

Hold

抱歉，原内容已删除

2021-07-19

Bubbles…

Morgan Stanley: This Cycle Will Be "Hotter But Shorter" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>

2021-07-19

$Waterdrop Inc.(WDH)$buy more

2021-07-10

lol

China has prohibited the merger of HuYa and DouYu<blockquote>中国禁止虎牙和斗鱼合并</blockquote>

2021-06-30

Hold

@财经故事荟:从破发“上市”，到止跌“上岸”，赴美中概股要过几道关？

2021-06-28

Buy

US IPO Week Ahead: DiDi makes its billion-dollar debut in a 17 IPO week<blockquote>美国IPO未来一周：滴滴在17个IPO周内首次亮相10亿美元</blockquote>

2021-06-26

Great ariticle, would you like to share it?

@小虎活动:【老虎7周年】集卡瓜分百万奖金

2021-06-25

Great ariticle, would you like to share it?

@小虎活动:【老虎7周年】集卡瓜分百万奖金

2021-06-25

Buy

抱歉，原内容已删除

2021-06-24

Great ariticle, would you like to share it?

@小虎活动:【老虎7周年】集卡瓜分百万奖金

2021-06-24

Coinbase

抱歉，原内容已删除

2021-06-23

Great ariticle, would you like to share it?

@小虎活动:【老虎7周年】集卡瓜分百万奖金

2021-06-23

$Walt Disney(DIS)$🚀🚀🚀

2021-06-22

Great ariticle, would you like to share it?

@小虎活动:【老虎7周年】集卡瓜分百万奖金

2021-06-21

Great ariticle, would you like to share it?

@小虎活动:【老虎7周年】集卡瓜分百万奖金

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The unemployment rate had been expected to edge down to 4.7%.</p><p><blockquote>美国劳工部周五报告称，10月份美国经济新增就业岗位超出预期，失业率降至4.6%。当月非农就业人数增加53.1万人，而道琼斯估计为45万人。失业率预计将小幅下降至4.7%。</blockquote></p><p> Meanwhile, the U.S. House of Representatives is expected to vote on Friday on the social policy and climate-change bill and a bipartisan infrastructure bill.</p><p><blockquote>与此同时，美国众议院预计将于周五就社会政策和气候变化法案以及两党基础设施法案进行投票。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Pfizer(PFE)</b> – The drug maker's shares surged 10.4% in premarket trading after a study showed that its experimental Covid-19 antiviral pill reduced the risk of hospitalization and death by nearly 90%. Pfizer said it will ask regulators to approve the pill as soon as possible.</p><p><blockquote><b>辉瑞(PFE)</b>-一项研究显示，该制药商的实验性Covid-19抗病毒药物可将住院和死亡风险降低近90%，该制药商的股价在盘前交易中飙升10.4%。辉瑞表示，将要求监管机构尽快批准该药物。</blockquote></p><p> <b>DraftKings(DKNG)</b> – The sports betting company’s stock slid 10% in the premarket after it reported a wider-than-expected loss and revenue that fell short of Street forecasts. DraftKings did raise the midpoint of its fiscal 2021 revenue guidance and said it expected a strong 2022.</p><p><blockquote><b>DraftKings(DKNG)</b>–这家体育博彩公司公布亏损超出预期且收入低于华尔街预测，该公司股价在盘前下跌10%。DraftKings确实提高了2021财年收入指引的中点，并表示预计2022财年将表现强劲。</blockquote></p><p> <b>Nvidia(NVDA)&nbsp;</b>–&nbsp;Nvidia shares rose&nbsp;3% in premarket trading Friday&nbsp;after a 12% rise yesterday.Well Fargo Securities analyst Aaron Rakers reiterated an Overweight rating on Nvidia and bumped up the price target from $245 to $320.</p><p><blockquote><b>英伟达(NVDA)</b>-英伟达股价继昨天上涨12%后，周五盘前交易中上涨3%。富国证券分析师Aaron Rakers重申了对英伟达的跑赢大盘评级，并将目标价从245美元上调至320美元。</blockquote></p><p> <b>Peloton(PTON)</b> – Peloton tumbled 33% in the premarket after the fitness equipment maker slashed its full-year sales forecast by $1 billion, amid slowing demand for bikes and treadmills. Peloton also reported a quarterly loss of $1.21 per share, wider than the $1.07 loss expected by analysts, and revenue fell short of estimates as well.</p><p><blockquote><b>Peloton(PTON)</b>-由于自行车和跑步机需求放缓，健身器材制造商Peloton将全年销售额预测下调了10亿美元，盘前股价暴跌33%。Peloton还报告季度每股亏损1.21美元，高于分析师预期的1.07美元，营收也低于预期。</blockquote></p><p> <b>Expedia(EXPE)</b> – Expedia earned an adjusted $3.53 per share for its latest quarter, well above the $1.65 consensus estimate. Revenue was also higher than expected, with the travel services company benefiting from the surge in travel demand. Expedia soared 13.7% in premarket trading.</p><p><blockquote><b>Expedia(EXPE)</b>-Expedia最近一个季度调整后每股收益为3.53美元，远高于市场普遍预期的1.65美元。收入也高于预期，这家旅游服务公司受益于旅行需求的激增。Expedia在盘前交易中飙升13.7%。</blockquote></p><p> <b>Airbnb(ABNB)</b> – Airbnb rallied 5.9% in the premarket as the travel-demand surge lifted sales and earnings beyond Wall Street forecasts. Airbnb earned $1.22 per share for its latest quarter, beating the $0.75 consensus estimate, with sales coming in at a record high. The company also said it expects a strong holiday season.</p><p><blockquote><b>爱彼迎(ABNB)</b>-爱彼迎盘前上涨5.9%，因旅游需求激增推动销售额和盈利超出华尔街预期。爱彼迎最近一个季度每股收益1.22美元，超过市场普遍预期的0.75美元，销售额创历史新高。该公司还表示，预计假期将会很强劲。</blockquote></p><p> <b>Uber Technologies(UBER) </b>– Uber reported its first profitable quarter on an adjusted basis, thanks to upbeat performances by its ride-sharing and food delivery services. It did post an overall loss due to the drop in value of its stake in China ride-hailing company&nbsp;Didi(DIDI). Uber rose 2.5% in premarket trading.</p><p><blockquote><b>优步科技(UBER)</b>-由于拼车和送餐服务的乐观表现，优步报告了调整后的第一个盈利季度。由于其在中国网约车公司滴滴（DIDI）的股份价值下跌，该公司确实出现了整体亏损。Uber在盘前交易中上涨2.5%。</blockquote></p><p> <b>Pinterest(PINS)</b> – Pinterest came in 5 cents above estimates with an adjusted quarterly profit of 28 cents per share, and the image-sharing site operator’s revenue also topped analyst forecasts. It is also predicting an upbeat current quarter as the online retailer spends more on holiday season ads. Pinterest jumped 3.8% in premarket action.</p><p><blockquote><b>Pinterest(PINS)</b>-Pinterest调整后季度利润为每股28美分，比预期高出5美分，这家图像共享网站运营商的收入也超出了分析师的预期。它还预测，随着这家在线零售商在假日广告上的支出增加，本季度将会乐观。Pinterest在盘前股价上涨3.8%。</blockquote></p><p> <b>Square(SQ)</b> -Square matched estimates with quarterly earnings of 37 cents per share, while the mobile payments company’s revenue missed forecasts. Square did see a nearly 60% rise in profit from a year earlier, thanks in large part to a surge in bitcoin transactions, but the stock dropped 3.5% in premarket trading.</p><p><blockquote><b>平方(SQ)</b>-Square的季度收益为每股37美分，符合预期，而这家移动支付公司的收入未达到预期。Square的利润确实较上年同期增长了近60%，这在很大程度上要归功于比特币交易的激增，但该股在盘前交易中下跌了3.5%。</blockquote></p><p> <b>Canopy Growth(CGC)</b> – The Canadian cannabis producer lost 3 cents per share for its latest quarter, smaller than the 20-cent loss expected by analysts. However, revenue fell short of estimates and the company flagged slower-than-expected revenue growth for the second half of fiscal 2022. The stock fell 2.7% in the premarket.</p><p><blockquote><b>冠层生长(CGC)</b>-这家加拿大大麻生产商最近一个季度每股亏损3美分，小于分析师预期的20美分亏损。然而，收入低于预期，该公司表示2022财年下半年的收入增长低于预期。该股盘前下跌2.7%。</blockquote></p><p> <b>Shake Shack(SHAK)</b> – Shake Shack reported a quarterly loss of 5 cents per share, 1 cent less than Wall Street had anticipated, but the restaurant chain’s sales missed analyst forecasts. Despite the revenue miss, Shake Shack rallied 7.6% in the premarket.</p><p><blockquote><b>Shake Shack(SHAK)</b>-Shake Shack公布季度每股亏损5美分，比华尔街预期少1美分，但该连锁餐厅的销售额未达到分析师预期。尽管营收未达预期，Shake Shack盘前仍上涨7.6%。</blockquote></p><p> <b>Canada Goose(GOOS)</b> – The outerwear maker reported an unexpected profit for its latest quarter along with better-than-expected revenue, and also raised its full-year forecast. Canada Goose also said it’s seeing an indication of a strong winter season, and shares jumped 7.4% in the premarket.</p><p><blockquote><b>加拿大鹅(GOOS)</b>-这家外套制造商公布了最近一个季度的意外利润以及好于预期的收入，并上调了全年预期。Canada Goose还表示，它看到了冬季强劲的迹象，股价在盘前上涨了7.4%。</blockquote></p><p></p><p> <b>Live Nation Entertainment(LYV) </b>– Live Nation shares rallied 5.4% in premarket action after the event promoter returned to profit amid a sales surge as live events returned. Results exceeded analyst estimates.</p><p><blockquote><b>现场国家娱乐(LYV)</b>-Live Nation股价在盘前上涨5.4%，此前随着现场活动回归，销售额激增，活动主办方恢复盈利。结果超出了分析师的预期。</blockquote></p><p> <b>Lions Gate Entertainment(LGF)</b> – The movie and tv studio is considering a sale or spin-off of its Starz premium cable channel, saying it sees the potential to unlock significant shareholder value. The stock surged 15.1% in the premarket.</p><p><blockquote><b>狮门娱乐(LGF)</b>-该电影和电视工作室正在考虑出售或分拆其Starz付费有线频道，称其看到了释放巨大股东价值的潜力。该股盘前飙升15.1%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-05 20:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Futures tracking the S&amp;P 500 and Nasdaq indexes hit a record high on Friday, boosted by a batch of strong earnings reports and Pfizer, while investors looked to monthly employment data for clues on the pace of economic growth.</p><p><blockquote>受一批强劲财报和辉瑞的提振，跟踪标普500和纳斯达克指数的期货周五创下历史新高，而投资者则从月度就业数据中寻找经济增长步伐的线索。</blockquote></p><p> At 08:00 a.m. ET, Dow e-minis were up 54 points, or 0.15%, S&amp;P 500 e-minis were up 10.75 points, or 0.23%, and Nasdaq 100 e-minis were up 23.75 points, or 0.15%.</p><p><blockquote>截至美国东部时间上午08:00，道指e-mini上涨54点，涨幅0.15%，标普500 e-mini上涨10.75点，涨幅0.23%，纳斯达克100 e-mini上涨23.75点，涨幅0.15%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1e1332bf1b10c768776f84a7da4d481e\" tg-width=\"1080\" tg-height=\"390\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Travel stocks rose following the news, with American Airline , United Airlines, Delta Air Lines, cruise operators Carnival Corp and Norwegian Cruise rising between 2% and 4%.</p><p><blockquote>消息传出后，旅游股上涨，美国航空、联合航空、达美航空、邮轮运营商嘉年华公司和挪威邮轮上涨2%至4%。</blockquote></p><p> The U.S. economy added more jobs than expected in October while the unemployment rate fell to 4.6%, the Labor Department reported Friday.Nonfarm payrolls increased by 531,000 for the month, compared to the Dow Jones estimate of 450,000. The unemployment rate had been expected to edge down to 4.7%.</p><p><blockquote>美国劳工部周五报告称，10月份美国经济新增就业岗位超出预期，失业率降至4.6%。当月非农就业人数增加53.1万人，而道琼斯估计为45万人。失业率预计将小幅下降至4.7%。</blockquote></p><p> Meanwhile, the U.S. House of Representatives is expected to vote on Friday on the social policy and climate-change bill and a bipartisan infrastructure bill.</p><p><blockquote>与此同时，美国众议院预计将于周五就社会政策和气候变化法案以及两党基础设施法案进行投票。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Pfizer(PFE)</b> – The drug maker's shares surged 10.4% in premarket trading after a study showed that its experimental Covid-19 antiviral pill reduced the risk of hospitalization and death by nearly 90%. Pfizer said it will ask regulators to approve the pill as soon as possible.</p><p><blockquote><b>辉瑞(PFE)</b>-一项研究显示，该制药商的实验性Covid-19抗病毒药物可将住院和死亡风险降低近90%，该制药商的股价在盘前交易中飙升10.4%。辉瑞表示，将要求监管机构尽快批准该药物。</blockquote></p><p> <b>DraftKings(DKNG)</b> – The sports betting company’s stock slid 10% in the premarket after it reported a wider-than-expected loss and revenue that fell short of Street forecasts. DraftKings did raise the midpoint of its fiscal 2021 revenue guidance and said it expected a strong 2022.</p><p><blockquote><b>DraftKings(DKNG)</b>–这家体育博彩公司公布亏损超出预期且收入低于华尔街预测，该公司股价在盘前下跌10%。DraftKings确实提高了2021财年收入指引的中点，并表示预计2022财年将表现强劲。</blockquote></p><p> <b>Nvidia(NVDA)&nbsp;</b>–&nbsp;Nvidia shares rose&nbsp;3% in premarket trading Friday&nbsp;after a 12% rise yesterday.Well Fargo Securities analyst Aaron Rakers reiterated an Overweight rating on Nvidia and bumped up the price target from $245 to $320.</p><p><blockquote><b>英伟达(NVDA)</b>-英伟达股价继昨天上涨12%后，周五盘前交易中上涨3%。富国证券分析师Aaron Rakers重申了对英伟达的跑赢大盘评级，并将目标价从245美元上调至320美元。</blockquote></p><p> <b>Peloton(PTON)</b> – Peloton tumbled 33% in the premarket after the fitness equipment maker slashed its full-year sales forecast by $1 billion, amid slowing demand for bikes and treadmills. Peloton also reported a quarterly loss of $1.21 per share, wider than the $1.07 loss expected by analysts, and revenue fell short of estimates as well.</p><p><blockquote><b>Peloton(PTON)</b>-由于自行车和跑步机需求放缓，健身器材制造商Peloton将全年销售额预测下调了10亿美元，盘前股价暴跌33%。Peloton还报告季度每股亏损1.21美元，高于分析师预期的1.07美元，营收也低于预期。</blockquote></p><p> <b>Expedia(EXPE)</b> – Expedia earned an adjusted $3.53 per share for its latest quarter, well above the $1.65 consensus estimate. Revenue was also higher than expected, with the travel services company benefiting from the surge in travel demand. Expedia soared 13.7% in premarket trading.</p><p><blockquote><b>Expedia(EXPE)</b>-Expedia最近一个季度调整后每股收益为3.53美元，远高于市场普遍预期的1.65美元。收入也高于预期，这家旅游服务公司受益于旅行需求的激增。Expedia在盘前交易中飙升13.7%。</blockquote></p><p> <b>Airbnb(ABNB)</b> – Airbnb rallied 5.9% in the premarket as the travel-demand surge lifted sales and earnings beyond Wall Street forecasts. Airbnb earned $1.22 per share for its latest quarter, beating the $0.75 consensus estimate, with sales coming in at a record high. The company also said it expects a strong holiday season.</p><p><blockquote><b>爱彼迎(ABNB)</b>-爱彼迎盘前上涨5.9%，因旅游需求激增推动销售额和盈利超出华尔街预期。爱彼迎最近一个季度每股收益1.22美元，超过市场普遍预期的0.75美元，销售额创历史新高。该公司还表示，预计假期将会很强劲。</blockquote></p><p> <b>Uber Technologies(UBER) </b>– Uber reported its first profitable quarter on an adjusted basis, thanks to upbeat performances by its ride-sharing and food delivery services. It did post an overall loss due to the drop in value of its stake in China ride-hailing company&nbsp;Didi(DIDI). Uber rose 2.5% in premarket trading.</p><p><blockquote><b>优步科技(UBER)</b>-由于拼车和送餐服务的乐观表现，优步报告了调整后的第一个盈利季度。由于其在中国网约车公司滴滴（DIDI）的股份价值下跌，该公司确实出现了整体亏损。Uber在盘前交易中上涨2.5%。</blockquote></p><p> <b>Pinterest(PINS)</b> – Pinterest came in 5 cents above estimates with an adjusted quarterly profit of 28 cents per share, and the image-sharing site operator’s revenue also topped analyst forecasts. It is also predicting an upbeat current quarter as the online retailer spends more on holiday season ads. Pinterest jumped 3.8% in premarket action.</p><p><blockquote><b>Pinterest(PINS)</b>-Pinterest调整后季度利润为每股28美分，比预期高出5美分，这家图像共享网站运营商的收入也超出了分析师的预期。它还预测，随着这家在线零售商在假日广告上的支出增加，本季度将会乐观。Pinterest在盘前股价上涨3.8%。</blockquote></p><p> <b>Square(SQ)</b> -Square matched estimates with quarterly earnings of 37 cents per share, while the mobile payments company’s revenue missed forecasts. Square did see a nearly 60% rise in profit from a year earlier, thanks in large part to a surge in bitcoin transactions, but the stock dropped 3.5% in premarket trading.</p><p><blockquote><b>平方(SQ)</b>-Square的季度收益为每股37美分，符合预期，而这家移动支付公司的收入未达到预期。Square的利润确实较上年同期增长了近60%，这在很大程度上要归功于比特币交易的激增，但该股在盘前交易中下跌了3.5%。</blockquote></p><p> <b>Canopy Growth(CGC)</b> – The Canadian cannabis producer lost 3 cents per share for its latest quarter, smaller than the 20-cent loss expected by analysts. However, revenue fell short of estimates and the company flagged slower-than-expected revenue growth for the second half of fiscal 2022. The stock fell 2.7% in the premarket.</p><p><blockquote><b>冠层生长(CGC)</b>-这家加拿大大麻生产商最近一个季度每股亏损3美分，小于分析师预期的20美分亏损。然而，收入低于预期，该公司表示2022财年下半年的收入增长低于预期。该股盘前下跌2.7%。</blockquote></p><p> <b>Shake Shack(SHAK)</b> – Shake Shack reported a quarterly loss of 5 cents per share, 1 cent less than Wall Street had anticipated, but the restaurant chain’s sales missed analyst forecasts. Despite the revenue miss, Shake Shack rallied 7.6% in the premarket.</p><p><blockquote><b>Shake Shack(SHAK)</b>-Shake Shack公布季度每股亏损5美分，比华尔街预期少1美分，但该连锁餐厅的销售额未达到分析师预期。尽管营收未达预期，Shake Shack盘前仍上涨7.6%。</blockquote></p><p> <b>Canada Goose(GOOS)</b> – The outerwear maker reported an unexpected profit for its latest quarter along with better-than-expected revenue, and also raised its full-year forecast. Canada Goose also said it’s seeing an indication of a strong winter season, and shares jumped 7.4% in the premarket.</p><p><blockquote><b>加拿大鹅(GOOS)</b>-这家外套制造商公布了最近一个季度的意外利润以及好于预期的收入，并上调了全年预期。Canada Goose还表示，它看到了冬季强劲的迹象，股价在盘前上涨了7.4%。</blockquote></p><p></p><p> <b>Live Nation Entertainment(LYV) </b>– Live Nation shares rallied 5.4% in premarket action after the event promoter returned to profit amid a sales surge as live events returned. Results exceeded analyst estimates.</p><p><blockquote><b>现场国家娱乐(LYV)</b>-Live Nation股价在盘前上涨5.4%，此前随着现场活动回归，销售额激增，活动主办方恢复盈利。结果超出了分析师的预期。</blockquote></p><p> <b>Lions Gate Entertainment(LGF)</b> – The movie and tv studio is considering a sale or spin-off of its Starz premium cable channel, saying it sees the potential to unlock significant shareholder value. The stock surged 15.1% in the premarket.</p><p><blockquote><b>狮门娱乐(LGF)</b>-该电影和电视工作室正在考虑出售或分拆其Starz付费有线频道，称其看到了释放巨大股东价值的潜力。该股盘前飙升15.1%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DKNG":"DraftKings Inc.","CGC":"Canopy Growth Corporation","PTON":"Peloton Interactive, Inc.",".IXIC":"NASDAQ Composite","SHAK":"Shake Shack Inc","GOOS":"加拿大鹅","EXPE":"Expedia",".SPX":"S&P 500 Index","LYV":"Live Nation Entertainment","NVDA":"英伟达","PINS":"Pinterest, Inc.","PFE":"辉瑞","UBER":"优步",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156660858","content_text":"Futures tracking the S&P 500 and Nasdaq indexes hit a record high on Friday, boosted by a batch of strong earnings reports and Pfizer, while investors looked to monthly employment data for clues on the pace of economic growth.\nAt 08:00 a.m. ET, Dow e-minis were up 54 points, or 0.15%, S&P 500 e-minis were up 10.75 points, or 0.23%, and Nasdaq 100 e-minis were up 23.75 points, or 0.15%.\n\nTravel stocks rose following the news, with American Airline , United Airlines, Delta Air Lines, cruise operators Carnival Corp and Norwegian Cruise rising between 2% and 4%.\nThe U.S. economy added more jobs than expected in October while the unemployment rate fell to 4.6%, the Labor Department reported Friday.Nonfarm payrolls increased by 531,000 for the month, compared to the Dow Jones estimate of 450,000. The unemployment rate had been expected to edge down to 4.7%.\nMeanwhile, the U.S. House of Representatives is expected to vote on Friday on the social policy and climate-change bill and a bipartisan infrastructure bill.\nStocks making the biggest moves premarket:\nPfizer(PFE) – The drug maker's shares surged 10.4% in premarket trading after a study showed that its experimental Covid-19 antiviral pill reduced the risk of hospitalization and death by nearly 90%. Pfizer said it will ask regulators to approve the pill as soon as possible.\nDraftKings(DKNG) – The sports betting company’s stock slid 10% in the premarket after it reported a wider-than-expected loss and revenue that fell short of Street forecasts. DraftKings did raise the midpoint of its fiscal 2021 revenue guidance and said it expected a strong 2022.\nNvidia(NVDA) – Nvidia shares rose 3% in premarket trading Friday after a 12% rise yesterday.Well Fargo Securities analyst Aaron Rakers reiterated an Overweight rating on Nvidia and bumped up the price target from $245 to $320.\nPeloton(PTON) – Peloton tumbled 33% in the premarket after the fitness equipment maker slashed its full-year sales forecast by $1 billion, amid slowing demand for bikes and treadmills. Peloton also reported a quarterly loss of $1.21 per share, wider than the $1.07 loss expected by analysts, and revenue fell short of estimates as well.\nExpedia(EXPE) – Expedia earned an adjusted $3.53 per share for its latest quarter, well above the $1.65 consensus estimate. Revenue was also higher than expected, with the travel services company benefiting from the surge in travel demand. Expedia soared 13.7% in premarket trading.\nAirbnb(ABNB) – Airbnb rallied 5.9% in the premarket as the travel-demand surge lifted sales and earnings beyond Wall Street forecasts. Airbnb earned $1.22 per share for its latest quarter, beating the $0.75 consensus estimate, with sales coming in at a record high. The company also said it expects a strong holiday season.\nUber Technologies(UBER) – Uber reported its first profitable quarter on an adjusted basis, thanks to upbeat performances by its ride-sharing and food delivery services. It did post an overall loss due to the drop in value of its stake in China ride-hailing company Didi(DIDI). Uber rose 2.5% in premarket trading.\nPinterest(PINS) – Pinterest came in 5 cents above estimates with an adjusted quarterly profit of 28 cents per share, and the image-sharing site operator’s revenue also topped analyst forecasts. It is also predicting an upbeat current quarter as the online retailer spends more on holiday season ads. Pinterest jumped 3.8% in premarket action.\nSquare(SQ) -Square matched estimates with quarterly earnings of 37 cents per share, while the mobile payments company’s revenue missed forecasts. Square did see a nearly 60% rise in profit from a year earlier, thanks in large part to a surge in bitcoin transactions, but the stock dropped 3.5% in premarket trading.\nCanopy Growth(CGC) – The Canadian cannabis producer lost 3 cents per share for its latest quarter, smaller than the 20-cent loss expected by analysts. However, revenue fell short of estimates and the company flagged slower-than-expected revenue growth for the second half of fiscal 2022. The stock fell 2.7% in the premarket.\nShake Shack(SHAK) – Shake Shack reported a quarterly loss of 5 cents per share, 1 cent less than Wall Street had anticipated, but the restaurant chain’s sales missed analyst forecasts. Despite the revenue miss, Shake Shack rallied 7.6% in the premarket.\nCanada Goose(GOOS) – The outerwear maker reported an unexpected profit for its latest quarter along with better-than-expected revenue, and also raised its full-year forecast. Canada Goose also said it’s seeing an indication of a strong winter season, and shares jumped 7.4% in the premarket.\nLive Nation Entertainment(LYV) – Live Nation shares rallied 5.4% in premarket action after the event promoter returned to profit amid a sales surge as live events returned. Results exceeded analyst estimates.\nLions Gate Entertainment(LGF) – The movie and tv studio is considering a sale or spin-off of its Starz premium cable channel, saying it sees the potential to unlock significant shareholder value. The stock surged 15.1% in the premarket.","news_type":1,"symbols_score_info":{"ESmain":0.9,"PTON":0.9,"CGC":0.9,"PINS":0.9,"LGF":0.9,".SPX":0.9,"NQmain":0.9,"LYV":0.9,"UBER":0.9,".IXIC":0.9,"SHAK":0.9,"SQ":0.9,"GOOS":0.9,".DJI":0.9,"NVDA":0.9,"DKNG":0.9,"EXPE":0.9,"PFE":0.9,"YMmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841525279,"gmtCreate":1635927460686,"gmtModify":1635927460786,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581497141923960","authorIdStr":"3581497141923960"},"themes":[],"htmlText":"AGC","listText":"AGC","text":"AGC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841525279","repostId":"1192541582","repostType":2,"repost":{"id":"1192541582","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":1635927157,"share":"https://www.laohu8.com/m/news/1192541582?lang=zh_CN&edition=full","pubTime":"2021-11-03 16:12","market":"us","language":"en","title":"Lyft and Uber shares jumped in premarket trading<blockquote>Lyft和优步股价在盘前交易中上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1192541582","media":"Tiger Newspress","summary":"Lyft and Uber shares jumped in premarket trading after Lyft reporting outstanding quarterly results.","content":"<p>Lyft and Uber shares jumped in premarket trading&nbsp;after Lyft&nbsp;reporting outstanding&nbsp;quarterly results.Uber will report its third quarter earnings after hours on Thursday.</p><p><blockquote>在Lyft公布出色的季度业绩后，Lyft和优步股价在盘前交易中上涨。优步将于周四盘后公布第三季度收益。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/18239d63df7b8724d1682f681cc076b5\" tg-width=\"847\" tg-height=\"620\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90c8e42007ba900ba5b91730862e715\" tg-width=\"849\" tg-height=\"616\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Lyft Inc. reported third-quarter revenue 73% higher than last year, boosted by demand for ride-hailing services amid improving Covid-19 conditions.</p><p><blockquote>Lyft公司公布第三季度收入比去年增长73%，这得益于Covid-19状况改善对叫车服务的需求。</blockquote></p><p> The company reported adjusted earnings before tax, depreciation and other expenses of $67.3 million, beating Wall Street estimates of $33 million, and marking Lyft’s second quarterly adjusted profit.</p><p><blockquote>该公司公布的调整后税前、折旧和其他费用前利润为6730万美元，超过华尔街预期的3300万美元，标志着Lyft第二季度调整后利润。</blockquote></p><p> Revenue hit $864 million in the three months ended September 30, the San Francisco-based company said in a statement Tuesday. That beat the $862 million analysts had projected, according to data compiled by Bloomberg.</p><p><blockquote>这家总部位于旧金山的公司周二在一份声明中表示，截至9月30日的三个月收入达到8.64亿美元。根据彭博社汇编的数据，这超出了分析师预期的8.62亿美元。</blockquote></p><p> Lyft reported 18.9 million active riders, a 51% increase from the same period last year, but short of the 19.3 million analysts predicted. The company’s revenue per active rider reached a record $45.63 -- an increase driven by customers taking rides more frequently.</p><p><blockquote>Lyft报告称，活跃乘客为1890万人，比去年同期增长51%，但低于分析师预测的1930万人。该公司每位活跃乘客的收入达到了创纪录的45.63美元，这一增长是由客户更频繁地乘车推动的。</blockquote></p><p> Lyft co-founder and President John Zimmer said airport rides, which were up threefold compared to a year earlier, coupled with a rise in weekend and evening trips, was a positive sign that customers are reverting back to pre-pandemic habits. “We feel great about rider demand,” Zimmer told Bloomberg. “And since the release of booster shots, and children’s vaccinations becoming available, I feel good about the road ahead.”</p><p><blockquote>Lyft联合创始人兼总裁John Zimmer表示，与一年前相比，机场乘车次数增加了三倍，加上周末和晚上出行的增加，这是一个积极的迹象，表明客户正在恢复到大流行前的习惯。“我们对骑手需求感觉很好，”齐默告诉彭博社。“自从加强注射和儿童疫苗接种开始，我对未来的道路感觉良好。”</blockquote></p><p> While the delta variant kept more people indoors and out of Lyfts over the summer, Covid-19 vaccination rates have continued to rise in the U.S., with President Joe Biden’s directive spurring more private employers to mandate shots or testing. Falling numbers of cases in the U.S. have boosted Lyft, which only operates in North America.</p><p><blockquote>虽然德尔塔变异毒株在夏季让更多的人呆在室内，远离Lyfts，但美国的新冠肺炎疫苗接种率持续上升，总统乔·拜登（Joe Biden）的指令刺激更多私人雇主强制注射或测试。美国病例数量的下降提振了仅在北美开展业务的Lyft。</blockquote></p><p> But even as riders return, Lyft and its larger rival, Uber Technologies Inc., have struggled to find enough drivers. Lyft has poured millions of dollars into incentives and bonuses to entice drivers who are hesitant to return, sometimes because they have unemployment benefits or health concerns.</p><p><blockquote>但即使乘客回归，Lyft及其更大的竞争对手优步科技公司仍难以找到足够的司机。Lyft投入了数百万美元的激励措施和奖金，以吸引那些犹豫是否返回的司机，有时是因为他们有失业救济金或健康问题。</blockquote></p><p> Driver supply increased 45% in the third quarter versus the same period last year. “We’ve seen [driver supply] levels improve materially and see a path for less dynamic pricing as we get the marketplace balance stabilized,” Zimmer said.</p><p><blockquote>第三季度司机供应量较去年同期增长45%。齐默说：“我们已经看到[司机供应]水平显着改善，并且随着市场平衡的稳定，我们看到了一条不那么动态定价的道路。”</blockquote></p><p> Lyft has worked to become profitable, slashing costs with a wave of layoffs and budget cuts at the height of the pandemic, and agreeing to offload its self-driving division to a subsidiary of Toyota Motor Corp. in April, cutting costly autonomous car research expenses.</p><p><blockquote>Lyft一直在努力实现盈利，在疫情最严重的时候通过一波裁员和预算削减来削减成本，并于4月份同意将其自动驾驶部门出售给丰田汽车公司的子公司，从而削减昂贵的自动驾驶汽车研究费用。</blockquote></p><p> Lyft reported its net loss narrowed to $71.5 million, or a loss of 21 cents a share, from a loss of $459.5 million, or $1.46 a share, a year earlier.</p><p><blockquote>Lyft报告称，其净亏损从去年同期的亏损4.595亿美元（即每股亏损1.46美元）收窄至7150万美元，即每股亏损21美分。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLyft and Uber shares jumped in premarket trading<blockquote>Lyft和优步股价在盘前交易中上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-03 16:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Lyft and Uber shares jumped in premarket trading&nbsp;after Lyft&nbsp;reporting outstanding&nbsp;quarterly results.Uber will report its third quarter earnings after hours on Thursday.</p><p><blockquote>在Lyft公布出色的季度业绩后，Lyft和优步股价在盘前交易中上涨。优步将于周四盘后公布第三季度收益。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/18239d63df7b8724d1682f681cc076b5\" tg-width=\"847\" tg-height=\"620\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90c8e42007ba900ba5b91730862e715\" tg-width=\"849\" tg-height=\"616\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Lyft Inc. reported third-quarter revenue 73% higher than last year, boosted by demand for ride-hailing services amid improving Covid-19 conditions.</p><p><blockquote>Lyft公司公布第三季度收入比去年增长73%，这得益于Covid-19状况改善对叫车服务的需求。</blockquote></p><p> The company reported adjusted earnings before tax, depreciation and other expenses of $67.3 million, beating Wall Street estimates of $33 million, and marking Lyft’s second quarterly adjusted profit.</p><p><blockquote>该公司公布的调整后税前、折旧和其他费用前利润为6730万美元，超过华尔街预期的3300万美元，标志着Lyft第二季度调整后利润。</blockquote></p><p> Revenue hit $864 million in the three months ended September 30, the San Francisco-based company said in a statement Tuesday. That beat the $862 million analysts had projected, according to data compiled by Bloomberg.</p><p><blockquote>这家总部位于旧金山的公司周二在一份声明中表示，截至9月30日的三个月收入达到8.64亿美元。根据彭博社汇编的数据，这超出了分析师预期的8.62亿美元。</blockquote></p><p> Lyft reported 18.9 million active riders, a 51% increase from the same period last year, but short of the 19.3 million analysts predicted. The company’s revenue per active rider reached a record $45.63 -- an increase driven by customers taking rides more frequently.</p><p><blockquote>Lyft报告称，活跃乘客为1890万人，比去年同期增长51%，但低于分析师预测的1930万人。该公司每位活跃乘客的收入达到了创纪录的45.63美元，这一增长是由客户更频繁地乘车推动的。</blockquote></p><p> Lyft co-founder and President John Zimmer said airport rides, which were up threefold compared to a year earlier, coupled with a rise in weekend and evening trips, was a positive sign that customers are reverting back to pre-pandemic habits. “We feel great about rider demand,” Zimmer told Bloomberg. “And since the release of booster shots, and children’s vaccinations becoming available, I feel good about the road ahead.”</p><p><blockquote>Lyft联合创始人兼总裁John Zimmer表示，与一年前相比，机场乘车次数增加了三倍，加上周末和晚上出行的增加，这是一个积极的迹象，表明客户正在恢复到大流行前的习惯。“我们对骑手需求感觉很好，”齐默告诉彭博社。“自从加强注射和儿童疫苗接种开始，我对未来的道路感觉良好。”</blockquote></p><p> While the delta variant kept more people indoors and out of Lyfts over the summer, Covid-19 vaccination rates have continued to rise in the U.S., with President Joe Biden’s directive spurring more private employers to mandate shots or testing. Falling numbers of cases in the U.S. have boosted Lyft, which only operates in North America.</p><p><blockquote>虽然德尔塔变异毒株在夏季让更多的人呆在室内，远离Lyfts，但美国的新冠肺炎疫苗接种率持续上升，总统乔·拜登（Joe Biden）的指令刺激更多私人雇主强制注射或测试。美国病例数量的下降提振了仅在北美开展业务的Lyft。</blockquote></p><p> But even as riders return, Lyft and its larger rival, Uber Technologies Inc., have struggled to find enough drivers. Lyft has poured millions of dollars into incentives and bonuses to entice drivers who are hesitant to return, sometimes because they have unemployment benefits or health concerns.</p><p><blockquote>但即使乘客回归，Lyft及其更大的竞争对手优步科技公司仍难以找到足够的司机。Lyft投入了数百万美元的激励措施和奖金，以吸引那些犹豫是否返回的司机，有时是因为他们有失业救济金或健康问题。</blockquote></p><p> Driver supply increased 45% in the third quarter versus the same period last year. “We’ve seen [driver supply] levels improve materially and see a path for less dynamic pricing as we get the marketplace balance stabilized,” Zimmer said.</p><p><blockquote>第三季度司机供应量较去年同期增长45%。齐默说：“我们已经看到[司机供应]水平显着改善，并且随着市场平衡的稳定，我们看到了一条不那么动态定价的道路。”</blockquote></p><p> Lyft has worked to become profitable, slashing costs with a wave of layoffs and budget cuts at the height of the pandemic, and agreeing to offload its self-driving division to a subsidiary of Toyota Motor Corp. in April, cutting costly autonomous car research expenses.</p><p><blockquote>Lyft一直在努力实现盈利，在疫情最严重的时候通过一波裁员和预算削减来削减成本，并于4月份同意将其自动驾驶部门出售给丰田汽车公司的子公司，从而削减昂贵的自动驾驶汽车研究费用。</blockquote></p><p> Lyft reported its net loss narrowed to $71.5 million, or a loss of 21 cents a share, from a loss of $459.5 million, or $1.46 a share, a year earlier.</p><p><blockquote>Lyft报告称，其净亏损从去年同期的亏损4.595亿美元（即每股亏损1.46美元）收窄至7150万美元，即每股亏损21美分。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBER":"优步"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192541582","content_text":"Lyft and Uber shares jumped in premarket trading after Lyft reporting outstanding quarterly results.Uber will report its third quarter earnings after hours on Thursday.\n\nLyft Inc. reported third-quarter revenue 73% higher than last year, boosted by demand for ride-hailing services amid improving Covid-19 conditions.\nThe company reported adjusted earnings before tax, depreciation and other expenses of $67.3 million, beating Wall Street estimates of $33 million, and marking Lyft’s second quarterly adjusted profit.\nRevenue hit $864 million in the three months ended September 30, the San Francisco-based company said in a statement Tuesday. That beat the $862 million analysts had projected, according to data compiled by Bloomberg.\nLyft reported 18.9 million active riders, a 51% increase from the same period last year, but short of the 19.3 million analysts predicted. The company’s revenue per active rider reached a record $45.63 -- an increase driven by customers taking rides more frequently.\nLyft co-founder and President John Zimmer said airport rides, which were up threefold compared to a year earlier, coupled with a rise in weekend and evening trips, was a positive sign that customers are reverting back to pre-pandemic habits. “We feel great about rider demand,” Zimmer told Bloomberg. “And since the release of booster shots, and children’s vaccinations becoming available, I feel good about the road ahead.”\nWhile the delta variant kept more people indoors and out of Lyfts over the summer, Covid-19 vaccination rates have continued to rise in the U.S., with President Joe Biden’s directive spurring more private employers to mandate shots or testing. Falling numbers of cases in the U.S. have boosted Lyft, which only operates in North America.\nBut even as riders return, Lyft and its larger rival, Uber Technologies Inc., have struggled to find enough drivers. Lyft has poured millions of dollars into incentives and bonuses to entice drivers who are hesitant to return, sometimes because they have unemployment benefits or health concerns.\nDriver supply increased 45% in the third quarter versus the same period last year. “We’ve seen [driver supply] levels improve materially and see a path for less dynamic pricing as we get the marketplace balance stabilized,” Zimmer said.\nLyft has worked to become profitable, slashing costs with a wave of layoffs and budget cuts at the height of the pandemic, and agreeing to offload its self-driving division to a subsidiary of Toyota Motor Corp. in April, cutting costly autonomous car research expenses.\nLyft reported its net loss narrowed to $71.5 million, or a loss of 21 cents a share, from a loss of $459.5 million, or $1.46 a share, a year 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16:27","market":"us","language":"en","title":"Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146536243","media":"zerohedge","summary":"This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","content":"<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为这个经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到市场的激烈争论。每一项都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情造成了有记录以来最大幅度的产出下降。随后，在政策支持的帮助下，经济活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种暴力的下跌和上涨从未允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场中的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得光滑和抛光。2003-07年的周期以大萧条以来最大的银行和房地产危机结束。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言喻的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么我们使用术语“周期”。经济和市场往往遵循周期性模式，这些模式往往会在市场表现中显现出来。我们关心的是那些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等周期后期条件？是的。由此产生的股票、信贷、收益率和收益率曲线的低谷是否符合市场和经济低点之间的通常节奏？他们做到了。随后反弹的领头羊是否是通常的早期周期赢家，如小型股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者这些事情实际上是正常的。如果到目前为止已经发生了很多“正常”的循环行为，那么它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏的推进，这些模式应该会发生变化。正如我的同事迈克尔·威尔逊所指出的，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅16个月。我们看到当前状况与2004年上半年有许多相似之处，2004年上半年是大幅通货再膨胀反弹之后的周期中期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（见增长恐慌周年纪念，2021年7月11日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为人们总能找到适合他们特定周期观点的指标，所以我们长期以来一直是综合指数的粉丝。这就是我们的“周期模型”，它结合了美国宏观、信贷周期和企业侵略性的十个指标，以衡量我们在市场周期中的位置。在2019年6月进入周期后期“低迷”和2020年4月进入周期早期“修复”后，该指数飙升。<b>它上升得如此之快，以至于已经过了下一个阶段（“复苏”），直接进入了“扩张”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>这很不寻常。“扩张”意味着捕捉“比正常情况更好且正在改善”的条件，<b>自1980年以来，“低迷”结束后平均需要35个月才能实现这一目标</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这是我们的论点，它体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，信贷相对于其他风险资产越差；信贷从“繁荣”中获得的收益较少，如果下一次衰退提前到来，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多的供应</b>在我们周期模型的“扩张”阶段，美国IG和HY Credit N1200万超额回报分别比平均水平差29个基点和161个基点。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现却参差不齐</b>投资者应该尝试承担违约风险而不是利差风险：我们的信用策略师喜欢持有CDX HY 0-15%，并用CDX IG付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合更加平衡</b>我们看好美国和欧洲的医疗保健行业，因为该行业具有几个良好的因素：质量、低估值、高利差和低波动性。从全球来看，欧洲和日本的股市往往跑赢“中期周期”，我们认为它们可以再次这样做。</li><li><b>利率对复苏过于悲观。在我们周期模型的“扩张”阶段，美国10年期国债1200万奈拉回报率比平均水平低97个基点</b>.Guneet Dhingra和我们的美国利率策略团队在全球资产配置中转移了跑输大盘美国10年期国债，而我们反过来又转移了跑输大盘政府债券。</li></ul>这种循环是不寻常的。大多数“正常”周期都是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-19 16:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为这个经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到市场的激烈争论。每一项都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情造成了有记录以来最大幅度的产出下降。随后，在政策支持的帮助下，经济活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种暴力的下跌和上涨从未允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场中的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得光滑和抛光。2003-07年的周期以大萧条以来最大的银行和房地产危机结束。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言喻的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么我们使用术语“周期”。经济和市场往往遵循周期性模式，这些模式往往会在市场表现中显现出来。我们关心的是那些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等周期后期条件？是的。由此产生的股票、信贷、收益率和收益率曲线的低谷是否符合市场和经济低点之间的通常节奏？他们做到了。随后反弹的领头羊是否是通常的早期周期赢家，如小型股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者这些事情实际上是正常的。如果到目前为止已经发生了很多“正常”的循环行为，那么它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏的推进，这些模式应该会发生变化。正如我的同事迈克尔·威尔逊所指出的，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅16个月。我们看到当前状况与2004年上半年有许多相似之处，2004年上半年是大幅通货再膨胀反弹之后的周期中期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（见增长恐慌周年纪念，2021年7月11日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为人们总能找到适合他们特定周期观点的指标，所以我们长期以来一直是综合指数的粉丝。这就是我们的“周期模型”，它结合了美国宏观、信贷周期和企业侵略性的十个指标，以衡量我们在市场周期中的位置。在2019年6月进入周期后期“低迷”和2020年4月进入周期早期“修复”后，该指数飙升。<b>它上升得如此之快，以至于已经过了下一个阶段（“复苏”），直接进入了“扩张”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>这很不寻常。“扩张”意味着捕捉“比正常情况更好且正在改善”的条件，<b>自1980年以来，“低迷”结束后平均需要35个月才能实现这一目标</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这是我们的论点，它体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，信贷相对于其他风险资产越差；信贷从“繁荣”中获得的收益较少，如果下一次衰退提前到来，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多的供应</b>在我们周期模型的“扩张”阶段，美国IG和HY Credit N1200万超额回报分别比平均水平差29个基点和161个基点。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现却参差不齐</b>投资者应该尝试承担违约风险而不是利差风险：我们的信用策略师喜欢持有CDX HY 0-15%，并用CDX IG付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合更加平衡</b>我们看好美国和欧洲的医疗保健行业，因为该行业具有几个良好的因素：质量、低估值、高利差和低波动性。从全球来看，欧洲和日本的股市往往跑赢“中期周期”，我们认为它们可以再次这样做。</li><li><b>利率对复苏过于悲观。在我们周期模型的“扩张”阶段，美国10年期国债1200万奈拉回报率比平均水平低97个基点</b>.Guneet Dhingra和我们的美国利率策略团队在全球资产配置中转移了跑输大盘美国10年期国债，而我们反过来又转移了跑输大盘政府债券。</li></ul>这种循环是不寻常的。大多数“正常”周期都是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146536243","content_text":"We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.\nThe debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.\nBut 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.\nInstead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.\nWas last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.\nIf it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are. If a lot of 'normal' cycle behavior has played out so far, it should continue to do so.\nSpecifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see The Growth Scare Anniversary, July 11, 2021).\nBecause one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.\nThisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',and since 1980, it has taken an average of 35 months to get there after 'downturn' ends. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.It also hints at another possibility: this hotter cycle could be shorter.This is our thesis, and it’s showing up in our quantitative measure.\nAll this has a number of implications:\n\nThe shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.\nIn many of those periods, more mixed credit performance occurs despite default rates remaining low. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.\nIn equities, we think that our model supports more balance in portfolios. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.\nInterest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.\n\nThis cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":879,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171079874,"gmtCreate":1626699704598,"gmtModify":1631888248138,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581497141923960","authorIdStr":"3581497141923960"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/WDH\">$Waterdrop Inc.(WDH)$</a>buy more","listText":"<a href=\"https://laohu8.com/S/WDH\">$Waterdrop Inc.(WDH)$</a>buy more","text":"$Waterdrop Inc.(WDH)$buy more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171079874","isVote":1,"tweetType":1,"viewCount":1376,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575673912263865","authorId":"3575673912263865","name":"慧儿姑娘","avatar":"https://static.tigerbbs.com/2ade13d5de0b67bbb4f71599a03d347b","crmLevel":2,"crmLevelSwitch":0,"idStr":"3575673912263865","authorIdStr":"3575673912263865"},"content":"思路是对的 越低价越多买","text":"思路是对的 越低价越多买","html":"思路是对的 越低价越多买"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141769860,"gmtCreate":1625892137450,"gmtModify":1631888248150,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581497141923960","authorIdStr":"3581497141923960"},"themes":[],"htmlText":"lol&nbsp;","listText":"lol&nbsp;","text":"lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141769860","repostId":"1138077902","repostType":4,"repost":{"id":"1138077902","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":1625883154,"share":"https://www.laohu8.com/m/news/1138077902?lang=zh_CN&edition=full","pubTime":"2021-07-10 10:12","market":"hk","language":"en","title":"China has prohibited the merger of HuYa and DouYu<blockquote>中国禁止虎牙和斗鱼合并</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1138077902","media":"Tiger Newspress","summary":"The State Administration of market supervision of China has prohibited the merger of HuYa and DouYu.On January 4, 2021, the State Administration of market supervision of the people's Republic of China conducted an anti-monopoly examination on the concentration of business operators in accordance with the law in the merger case of tiger tooth company and Betta International Holding Co., Ltd. declared by Tencent Holding Co., Ltd.Tencent responded that the company will seriously abide by the review","content":"<p>The State Administration of market supervision of China has prohibited the merger of HuYa and DouYu.</p><p><blockquote>中国国家市场监督管理总局禁止虎牙和斗鱼合并。</blockquote></p><p> On January 4, 2021, the State Administration of market supervision of the people's Republic of China conducted an anti-monopoly examination on the concentration of business operators in accordance with the law in the merger case of tiger tooth company and Betta International Holding Co., Ltd. declared by Tencent Holding Co., Ltd.</p><p><blockquote>2021年1月4日，国家市场监督管理总局对腾讯控股控股有限公司申报的虎牙公司与斗鱼国际控股有限公司合并一案依法进行了经营者集中反垄断审查。</blockquote></p><p> According to the anti monopoly law, the State Administration of market supervision comprehensively analyzes and evaluates the market share of the operators participating in the concentration in the relevant market and their control over the market, the degree of market concentration, the impact of concentration on market entry and technological progress, the impact of concentration on consumers and other relevant operators, as well as the effectiveness of the additional restrictive commitment scheme proposed by Tencent. During the review process, the State Administration of market supervision extensively solicited opinions from relevant government departments, industry associations, experts and scholars, competitors in the same industry and downstream customers, and listened to Tencent's opinions for many times.</p><p><blockquote>市场监管总局依据《反垄断法》，综合分析评估参与集中的经营者在相关市场的市场份额及其对市场的控制力、市场集中程度、集中对市场进入和技术进步的影响、集中对消费者和其他相关经营者的影响，以及腾讯控股提出的附加限制性承诺方案的有效性。在评审过程中，市场监管总局广泛征求了政府有关部门、行业协会、专家学者、同行业竞争对手和下游客户的意见，并多次听取了腾讯控股的意见。</blockquote></p><p> The review shows that the relevant market of this case is the online game operation service market and the live game market in China. Tencent's market share in the upstream online game operation service exceeds 40%, ranking first; Tiger teeth and fighting fish have more than 40% and 30% of the downstream live game market shares respectively, ranking first and second, with a total of more than 70%. At present, Tencent has separate control over tiger tooth and joint control over Betta. For example, the merger of tiger tooth and Betta will make Tencent control the merged entity separately, further strengthen Tencent's dominant position in the live game market, and enable Tencent to have the ability and motivation to implement closed-loop management and two-way vertical blockade in the upstream and downstream markets, which has or may have the effect of excluding and limiting competition, which is not conducive to fair competition in the market and may damage the interests of consumers, It is not conducive to the healthy and sustainable development of online games and live game market. After evaluation, Tencent's proposal of additional restrictive conditions commitment can not effectively solve the above competition concerns.</p><p><blockquote>审查显示，本案相关市场为我国网络游戏运营服务市场和游戏直播市场。腾讯控股在上游网络游戏运营服务市场份额超过40%，排名第一；虎牙和斗鱼在下游游戏直播市场份额分别超过40%和30%，排名第一和第二，合计超过70%。目前，腾讯控股对虎牙分别控制，对斗鱼共同控制。例如，虎牙和斗鱼的合并将使腾讯控股单独控制合并后的主体，进一步强化腾讯控股在游戏直播市场的主导地位，使腾讯控股有能力和动力在上下游市场实施闭环管理和双向垂直封锁，具有或可能具有排除、限制竞争的效果，不利于市场公平竞争，可能损害消费者利益，不利于网络游戏和游戏直播市场的健康持续发展。经评估，腾讯控股提出的附加限制性条件承诺不能有效解决上述竞争关切。</blockquote></p><p> According to Article 28 of the anti monopoly law and Article 35 of the Interim Provisions on the examination of business concentration, the State Administration of market supervision has decided to prohibit such business concentration according to law.</p><p><blockquote>根据《反垄断法》第二十八条、《经营者集中审查暂行规定》第三十五条的规定，国家市场监管总局依法决定禁止该等经营者集中。</blockquote></p><p> Tencent responded that the company will seriously abide by the review decision, actively cooperate with regulatory requirements, operate in accordance with the law and fulfill its social responsibilities.</p><p><blockquote>腾讯控股回应称，公司将认真遵守审查决定，积极配合监管要求，依法经营，履行社会责任。</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>China has prohibited the merger of HuYa and DouYu<blockquote>中国禁止虎牙和斗鱼合并</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina has prohibited the merger of HuYa and DouYu<blockquote>中国禁止虎牙和斗鱼合并</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\">2021-07-10 10:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The State Administration of market supervision of China has prohibited the merger of HuYa and DouYu.</p><p><blockquote>中国国家市场监督管理总局禁止虎牙和斗鱼合并。</blockquote></p><p> On January 4, 2021, the State Administration of market supervision of the people's Republic of China conducted an anti-monopoly examination on the concentration of business operators in accordance with the law in the merger case of tiger tooth company and Betta International Holding Co., Ltd. declared by Tencent Holding Co., Ltd.</p><p><blockquote>2021年1月4日，国家市场监督管理总局对腾讯控股控股有限公司申报的虎牙公司与斗鱼国际控股有限公司合并一案依法进行了经营者集中反垄断审查。</blockquote></p><p> According to the anti monopoly law, the State Administration of market supervision comprehensively analyzes and evaluates the market share of the operators participating in the concentration in the relevant market and their control over the market, the degree of market concentration, the impact of concentration on market entry and technological progress, the impact of concentration on consumers and other relevant operators, as well as the effectiveness of the additional restrictive commitment scheme proposed by Tencent. During the review process, the State Administration of market supervision extensively solicited opinions from relevant government departments, industry associations, experts and scholars, competitors in the same industry and downstream customers, and listened to Tencent's opinions for many times.</p><p><blockquote>市场监管总局依据《反垄断法》，综合分析评估参与集中的经营者在相关市场的市场份额及其对市场的控制力、市场集中程度、集中对市场进入和技术进步的影响、集中对消费者和其他相关经营者的影响，以及腾讯控股提出的附加限制性承诺方案的有效性。在评审过程中，市场监管总局广泛征求了政府有关部门、行业协会、专家学者、同行业竞争对手和下游客户的意见，并多次听取了腾讯控股的意见。</blockquote></p><p> The review shows that the relevant market of this case is the online game operation service market and the live game market in China. Tencent's market share in the upstream online game operation service exceeds 40%, ranking first; Tiger teeth and fighting fish have more than 40% and 30% of the downstream live game market shares respectively, ranking first and second, with a total of more than 70%. At present, Tencent has separate control over tiger tooth and joint control over Betta. For example, the merger of tiger tooth and Betta will make Tencent control the merged entity separately, further strengthen Tencent's dominant position in the live game market, and enable Tencent to have the ability and motivation to implement closed-loop management and two-way vertical blockade in the upstream and downstream markets, which has or may have the effect of excluding and limiting competition, which is not conducive to fair competition in the market and may damage the interests of consumers, It is not conducive to the healthy and sustainable development of online games and live game market. After evaluation, Tencent's proposal of additional restrictive conditions commitment can not effectively solve the above competition concerns.</p><p><blockquote>审查显示，本案相关市场为我国网络游戏运营服务市场和游戏直播市场。腾讯控股在上游网络游戏运营服务市场份额超过40%，排名第一；虎牙和斗鱼在下游游戏直播市场份额分别超过40%和30%，排名第一和第二，合计超过70%。目前，腾讯控股对虎牙分别控制，对斗鱼共同控制。例如，虎牙和斗鱼的合并将使腾讯控股单独控制合并后的主体，进一步强化腾讯控股在游戏直播市场的主导地位，使腾讯控股有能力和动力在上下游市场实施闭环管理和双向垂直封锁，具有或可能具有排除、限制竞争的效果，不利于市场公平竞争，可能损害消费者利益，不利于网络游戏和游戏直播市场的健康持续发展。经评估，腾讯控股提出的附加限制性条件承诺不能有效解决上述竞争关切。</blockquote></p><p> According to Article 28 of the anti monopoly law and Article 35 of the Interim Provisions on the examination of business concentration, the State Administration of market supervision has decided to prohibit such business concentration according to law.</p><p><blockquote>根据《反垄断法》第二十八条、《经营者集中审查暂行规定》第三十五条的规定，国家市场监管总局依法决定禁止该等经营者集中。</blockquote></p><p> Tencent responded that the company will seriously abide by the review decision, actively cooperate with regulatory requirements, operate in accordance with the law and fulfill its social responsibilities.</p><p><blockquote>腾讯控股回应称，公司将认真遵守审查决定，积极配合监管要求，依法经营，履行社会责任。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HUYA":"虎牙","DOYU":"斗鱼","00700":"腾讯控股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138077902","content_text":"The State Administration of market supervision of China has prohibited the merger of HuYa and DouYu.\nOn January 4, 2021, the State Administration of market supervision of the people's Republic of China conducted an anti-monopoly examination on the concentration of business operators in accordance with the law in the merger case of tiger tooth company and Betta International Holding Co., Ltd. declared by Tencent Holding Co., Ltd.\nAccording to the anti monopoly law, the State Administration of market supervision comprehensively analyzes and evaluates the market share of the operators participating in the concentration in the relevant market and their control over the market, the degree of market concentration, the impact of concentration on market entry and technological progress, the impact of concentration on consumers and other relevant operators, as well as the effectiveness of the additional restrictive commitment scheme proposed by Tencent. During the review process, the State Administration of market supervision extensively solicited opinions from relevant government departments, industry associations, experts and scholars, competitors in the same industry and downstream customers, and listened to Tencent's opinions for many times.\nThe review shows that the relevant market of this case is the online game operation service market and the live game market in China. Tencent's market share in the upstream online game operation service exceeds 40%, ranking first; Tiger teeth and fighting fish have more than 40% and 30% of the downstream live game market shares respectively, ranking first and second, with a total of more than 70%. At present, Tencent has separate control over tiger tooth and joint control over Betta. For example, the merger of tiger tooth and Betta will make Tencent control the merged entity separately, further strengthen Tencent's dominant position in the live game market, and enable Tencent to have the ability and motivation to implement closed-loop management and two-way vertical blockade in the upstream and downstream markets, which has or may have the effect of excluding and limiting competition, which is not conducive to fair competition in the market and may damage the interests of consumers, It is not conducive to the healthy and sustainable development of online games and live game market. After evaluation, Tencent's proposal of additional restrictive conditions commitment can not effectively solve the above competition concerns.\nAccording to Article 28 of the anti monopoly law and Article 35 of the Interim Provisions on the examination of business concentration, the State Administration of market supervision has decided to prohibit such business concentration according to law.\nTencent responded that the company will seriously abide by the review decision, actively cooperate with regulatory requirements, operate in accordance with the law and fulfill its social responsibilities.","news_type":1,"symbols_score_info":{"00700":0.9,"HUYA":0.9,"DOYU":0.9}},"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151088459,"gmtCreate":1625057857271,"gmtModify":1631888248169,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581497141923960","authorIdStr":"3581497141923960"},"themes":[],"htmlText":"Hold","listText":"Hold","text":"Hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/151088459","repostId":"153725429","repostType":1,"repost":{"id":153725429,"gmtCreate":1625052710861,"gmtModify":1744851688832,"author":{"id":"3498862311246415","authorId":"3498862311246415","name":"财经故事荟","avatar":"https://static.tigerbbs.com/fcb387baf2d7088a5dcd53c9b61b07d6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3498862311246415","authorIdStr":"3498862311246415"},"themes":[],"title":"从破发“上市”，到止跌“上岸”，赴美中概股要过几道关？","htmlText":"采写／陈纪英上市的锣鼓敲得有多响，破发的股价就有多肉疼。上市即破发，已经成为了不少赴美赴港中港股的集体噩梦——最近陆续上市的奈雪的茶、满帮、每日优鲜等陆续跌破发行价，投资人一片哀嚎。但其实，日光之下并无新事，美股、港股上市即破发的现象只不过是“Yesterdayonce moere”。今年3月，当B站在香港二次上市再度破发时，B站创始人陈睿安抚投资人说，“今天有一种YesterdayOnce More的感觉，我们在美股上市的时候也破发了。但我那时候说过一句话，未来十年没人会记得B站股价破发这件事。”陈睿当然有这个底气——美股破发之后，仅仅花了两三年，B站就走上新巅峰，股价翻了十倍以上。破发——别说创业公司应接不暇，连巨头也束手无策。在上市发行价的破发“黑名单”上，Facebook上市前三天大跌18%，Uber和小米上市当天即破发，美团上市后三个月跌去了40%，小米上市不久即被腰斩，拼多多阿里上市一年内就跌破发行价，亚马逊IPO之后的13个交易日里有5天都跌破了发行价，等等。前纳斯达克证券交易所中国区首席代表兼亚洲区董事总经理徐光勋游走美股市场多年，对于美股上市即破发的现象，早已见怪不怪了，“首日或者短期内破发还是大涨，根本无需过度解读”。他告诉《财经故事荟》，“部分中国投资人无法接受首日破发，是因为A股上市之后都会连续大涨，但有涨有跌才是正常的健康的，普遍大涨反而说明供求关系不平衡，市场不够理智，投资人缺乏分辩能力”。不过，尽管如此，面对上市即破发的股价，公司也并非无可作为——从破发“上市”到回升“上岸”，到底需要跨过哪些关卡？A股上市即大涨，美股为何常破发?与美股港股打新吃肉割肉全凭运气不同，在A股，打新成功就是妥妥吃肉。“我只能这么说吧，放眼全世界主要的资本市场，包赔不赚的只有我大A股”，一位券商高管告诉《财经故事荟》，“所以做A股的上市辅导，是不用担心破发的，核心工作","listText":"采写／陈纪英上市的锣鼓敲得有多响，破发的股价就有多肉疼。上市即破发，已经成为了不少赴美赴港中港股的集体噩梦——最近陆续上市的奈雪的茶、满帮、每日优鲜等陆续跌破发行价，投资人一片哀嚎。但其实，日光之下并无新事，美股、港股上市即破发的现象只不过是“Yesterdayonce moere”。今年3月，当B站在香港二次上市再度破发时，B站创始人陈睿安抚投资人说，“今天有一种YesterdayOnce More的感觉，我们在美股上市的时候也破发了。但我那时候说过一句话，未来十年没人会记得B站股价破发这件事。”陈睿当然有这个底气——美股破发之后，仅仅花了两三年，B站就走上新巅峰，股价翻了十倍以上。破发——别说创业公司应接不暇，连巨头也束手无策。在上市发行价的破发“黑名单”上，Facebook上市前三天大跌18%，Uber和小米上市当天即破发，美团上市后三个月跌去了40%，小米上市不久即被腰斩，拼多多阿里上市一年内就跌破发行价，亚马逊IPO之后的13个交易日里有5天都跌破了发行价，等等。前纳斯达克证券交易所中国区首席代表兼亚洲区董事总经理徐光勋游走美股市场多年，对于美股上市即破发的现象，早已见怪不怪了，“首日或者短期内破发还是大涨，根本无需过度解读”。他告诉《财经故事荟》，“部分中国投资人无法接受首日破发，是因为A股上市之后都会连续大涨，但有涨有跌才是正常的健康的，普遍大涨反而说明供求关系不平衡，市场不够理智，投资人缺乏分辩能力”。不过，尽管如此，面对上市即破发的股价，公司也并非无可作为——从破发“上市”到回升“上岸”，到底需要跨过哪些关卡？A股上市即大涨，美股为何常破发?与美股港股打新吃肉割肉全凭运气不同，在A股，打新成功就是妥妥吃肉。“我只能这么说吧，放眼全世界主要的资本市场，包赔不赚的只有我大A股”，一位券商高管告诉《财经故事荟》，“所以做A股的上市辅导，是不用担心破发的，核心工作","text":"采写／陈纪英上市的锣鼓敲得有多响，破发的股价就有多肉疼。上市即破发，已经成为了不少赴美赴港中港股的集体噩梦——最近陆续上市的奈雪的茶、满帮、每日优鲜等陆续跌破发行价，投资人一片哀嚎。但其实，日光之下并无新事，美股、港股上市即破发的现象只不过是“Yesterdayonce moere”。今年3月，当B站在香港二次上市再度破发时，B站创始人陈睿安抚投资人说，“今天有一种YesterdayOnce More的感觉，我们在美股上市的时候也破发了。但我那时候说过一句话，未来十年没人会记得B站股价破发这件事。”陈睿当然有这个底气——美股破发之后，仅仅花了两三年，B站就走上新巅峰，股价翻了十倍以上。破发——别说创业公司应接不暇，连巨头也束手无策。在上市发行价的破发“黑名单”上，Facebook上市前三天大跌18%，Uber和小米上市当天即破发，美团上市后三个月跌去了40%，小米上市不久即被腰斩，拼多多阿里上市一年内就跌破发行价，亚马逊IPO之后的13个交易日里有5天都跌破了发行价，等等。前纳斯达克证券交易所中国区首席代表兼亚洲区董事总经理徐光勋游走美股市场多年，对于美股上市即破发的现象，早已见怪不怪了，“首日或者短期内破发还是大涨，根本无需过度解读”。他告诉《财经故事荟》，“部分中国投资人无法接受首日破发，是因为A股上市之后都会连续大涨，但有涨有跌才是正常的健康的，普遍大涨反而说明供求关系不平衡，市场不够理智，投资人缺乏分辩能力”。不过，尽管如此，面对上市即破发的股价，公司也并非无可作为——从破发“上市”到回升“上岸”，到底需要跨过哪些关卡？A股上市即大涨，美股为何常破发?与美股港股打新吃肉割肉全凭运气不同，在A股，打新成功就是妥妥吃肉。“我只能这么说吧，放眼全世界主要的资本市场，包赔不赚的只有我大A股”，一位券商高管告诉《财经故事荟》，“所以做A股的上市辅导，是不用担心破发的，核心工作","images":[{"img":"https://static.tigerbbs.com/c6f184c6e9fd2f785bc6076672c24c58","width":"1080","height":"720"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153725429","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":1,"comments":[],"imageCount":6,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150989897,"gmtCreate":1624882259219,"gmtModify":1631888248177,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581497141923960","authorIdStr":"3581497141923960"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/150989897","repostId":"1150095060","repostType":4,"repost":{"id":"1150095060","kind":"news","pubTimestamp":1624874134,"share":"https://www.laohu8.com/m/news/1150095060?lang=zh_CN&edition=full","pubTime":"2021-06-28 17:55","market":"us","language":"en","title":"US IPO Week Ahead: DiDi makes its billion-dollar debut in a 17 IPO week<blockquote>美国IPO未来一周：滴滴在17个IPO周内首次亮相10亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150095060","media":"Renaissance Capital","summary":"17 IPOs are slated to raise $9.1 billion in this week, led by long-awaited Chinese ride-hailing giant $DiDi Global Inc.$.DiDi plans to raise $3.9 billion at a $67.5 billion market cap. DiDi is China’s dominant ride-hailing app, with 15 million drivers across 4,000 cities and towns. The unprofitable company saw revenue more than double in the 1Q21 as its business recovered post-pandemic.New and existing investors intend to purchase $1.3 billion of the IPO.Cybersecurity platform $SentinelOne, Inc$","content":"<p>17 IPOs are slated to raise $9.1 billion in this week, led by long-awaited Chinese ride-hailing giant<b>&nbsp;<a href=\"https://laohu8.com/S/DIDI\">DiDi Global Inc.</a>.</b></p><p><blockquote>本周17起IPO预计筹集91亿美元，由期待已久的中国网约车巨头领投<b> <a href=\"https://laohu8.com/S/DIDI\">滴滴全球公司。</a>.</b></blockquote></p><p> <b>DiDi</b>&nbsp;plans to raise $3.9 billion at a $67.5 billion market cap. DiDi is China’s dominant ride-hailing app, with 15 million drivers across 4,000 cities and towns. The unprofitable company saw revenue more than double in the 1Q21 as its business recovered post-pandemic.New and existing investors intend to purchase $1.3 billion of the IPO.</p><p><blockquote><b>迪迪</b>计划以675亿美元的市值筹集39亿美元。滴滴是中国占主导地位的打车应用程序，在4000个城镇拥有1500万司机。随着业务在疫情后复苏，这家尚未盈利的公司在2021年第一季度的收入增长了一倍多。新老投资者打算购买13亿美元的IPO。</blockquote></p><p> Cybersecurity platform&nbsp;<b><a href=\"https://laohu8.com/S/S\">SentinelOne, Inc</a></b> plans to raise $880 million at an $8.2 billion market cap. SentinelOne's Singularity Platform is an AI-powered extended detection and response platform that ingests, correlates and queries petabytes of structured and unstructured data to provide autonomous cybersecurity defense. Fast growing and unprofitable, the company had over 4,700 customers as of 4/30/21, up from 2,700 a year prior.</p><p><blockquote>网络安全平台<b><a href=\"https://laohu8.com/S/S\">哨兵一号公司</a></b>计划以82亿美元的市值筹集8.8亿美元。SentinelOne的Singularity平台是一个人工智能驱动的扩展检测和响应平台，可以摄取、关联和查询PB的结构化和非结构化数据，以提供自主网络安全防御。截至2011年4月30日，该公司快速增长且未盈利，拥有超过4,700名客户，高于一年前的2,700名。</blockquote></p><p> Turkish e-commerce platform&nbsp;<b>D-MARKET Electronic Services &amp; Trading</b>(HEPS) plans to raise $681 million at a $3.9 billion market cap. Operating under the name Hepsiburada, the company connected 33 million members, 9 million Active Customers, and a base of approximately 45 thousand Active Merchants in 2020. The company is fast growing but EBITDA swung negative in the 1Q21.</p><p><blockquote>土耳其电商平台<b>D-MARKET电子服务与交易</b>(HEPS)计划以39亿美元的市值筹集6.81亿美元。该公司以Hepsiburada的名义运营，在2020年连接了3300万会员、900万活跃客户和约4.5万家活跃商户。该公司增长迅速，但EBITDA在2021年第一季度上转为负值。</blockquote></p><p> Doughnut brand&nbsp;<a href=\"https://laohu8.com/S/DNUT\"><b>Krispy Kreme, Inc.</a> </b>plans to raise $600 million at a $3.8 billion market cap. Krispy Kreme is an omni-channel business operating through a network of doughnut shops, partnerships with retailers, and an e-Commerce and delivery business. The company has a long track record and strong brand awareness, though its growth strategy is unproven.</p><p><blockquote>甜甜圈品牌<a href=\"https://laohu8.com/S/DNUT\"><b>克里斯皮·克雷姆公司。</b></a>计划以38亿美元的市值筹集6亿美元。Krispy Kreme是一家全渠道企业，通过甜甜圈店网络、与零售商的合作伙伴关系以及电子商务和送货业务运营。该公司拥有悠久的业绩记录和强大的品牌知名度，尽管其增长战略尚未得到证实。</blockquote></p><p> Legal solutions provider&nbsp;<b><a href=\"https://laohu8.com/S/LZ\">LegalZoom.com, Inc</a> </b>plans to raise $488 million at a $5.3 billion market cap. LegalZoom states that it is a leading online platform for legal and compliance solutions, claiming that 10% of new LLCs and 5% of new corporations in the US were formed via LegalZoom in 2020. Profitable on an EBITDA basis in the 1Q21, the company operates across all 50 states and over 3,000 counties in the US.</p><p><blockquote>法律解决方案提供商<b><a href=\"https://laohu8.com/S/LZ\">LegalZoom.com公司</a></b>计划以53亿美元的市值筹集4.88亿美元。LegalZoom表示，它是法律和合规解决方案的领先在线平台，并声称2020年美国10%的新有限责任公司和5%的新公司是通过LegalZoom成立的。该公司在2021年第一季度以EBITDA为基础实现盈利，业务遍及美国所有50个州和3,000多个县。</blockquote></p><p> Identity verification platform&nbsp;<b><a href=\"https://laohu8.com/S/YOU\">Clear Secure, Inc.</a></b> plans to raise $376 million at a $4.1 billion market cap. Clear Secure's secure identity platform uses to automate the identity verification process, with main offerings including CLEAR Plus, a consumer aviation subscription service, and two mobile apps. As of 5/31/21, Clear Secure's network included 38 airports, 26 sports and entertainment partners, and 67 Health Pass-enabled partners.</p><p><blockquote>身份验证平台<b><a href=\"https://laohu8.com/S/YOU\">清晰安全公司。</a></b>计划以41亿美元的市值筹集3.76亿美元。Clear Secure的安全身份平台用于自动化身份验证过程，主要产品包括消费者航空订阅服务CLEAR Plus和两个移动应用程序。截至2011年5月31日，Clear Secure的网络包括38个机场、26个体育和娱乐合作伙伴以及67个支持健康通行证的合作伙伴。</blockquote></p><p> Chinese grocery delivery platform&nbsp;<b><a href=\"https://laohu8.com/S/DDL\">Dingdong (Cayman) Limited</a> </b>plans to raise $343 million at a $6.0 billion market cap. With fresh groceries as its core product categories, Dingdong states that it is the fastest growing on-demand e-commerce company in China. Unprofitable with explosive growth, the company had a 10% share of the on-demand e-commerce market by GMV in 2020.</p><p><blockquote>中国杂货配送平台<b><a href=\"https://laohu8.com/S/DDL\">叮咚（开曼）有限公司</a></b>计划以60亿美元的市值筹集3.43亿美元。叮咚表示，以生鲜杂货为核心产品类别，是中国发展最快的按需电子商务公司。由于爆炸式增长，该公司在2020年按GMV计算的按需电子商务市场份额为10%。</blockquote></p><p> SaaS solutions provider&nbsp;<b><a href=\"https://laohu8.com/S/EVCM\">EverCommerce Inc.</a></b> plans to raise $325 million at a $3.4 billion market cap. EverCommerce is a leading provider of integrated, vertically-tailored SaaS solutions for service-based SMBs. The company serves over 500,000 customers across three core verticals: Home Services, Health Services, and Fitness &amp; Wellness Services.</p><p><blockquote>SaaS解决方案提供商<b><a href=\"https://laohu8.com/S/EVCM\">EverCommerce公司。</a></b>计划以34亿美元的市值筹集3.25亿美元。EverCommerce是为服务型中小型企业提供垂直定制的集成SaaS解决方案的领先提供商。该公司为三个核心垂直领域的超过500,000名客户提供服务：家庭服务、健康服务以及健身与健康服务。</blockquote></p><p> Software provider&nbsp;<b><a href=\"https://laohu8.com/S/INTA\">Intapp, Inc.</a> </b>plans to raise $278 million at a $1.9 billion market cap. Intapp provides industry-specific, cloud-based software solutions for the professional and financial services industry globally. The company had over 1,600 clients as of March 31, 2021, and it currently has more than 20 clients with contracts greater than $1 million of ARR.</p><p><blockquote>软件供应商<b><a href=\"https://laohu8.com/S/INTA\">Intapp公司。</a></b>计划以19亿美元的市值筹集2.78亿美元。Intapp为全球专业和金融服务行业提供特定行业的基于云的软件解决方案。截至2021年3月31日，该公司拥有超过1,600名客户，目前有超过20名客户的合同ARR超过100万美元。</blockquote></p><p> Online manufacturing marketplace&nbsp;<b><a href=\"https://laohu8.com/S/XMTR\">Xometry, Inc.</a></b> plans to raise $275 million at a $1.9 billion market cap. Xometry states that it is a leading AI-enabled marketplace for on-demand manufacturing. Its buyers include businesses ranging from self-funded start-ups to Fortune 100 companies. Since its inception, over 6.0 million parts have been manufactured through Xometry's platform.</p><p><blockquote>在线制造市场<b><a href=\"https://laohu8.com/S/XMTR\">Xometry公司。</a></b>计划以19亿美元的市值筹集2.75亿美元。Xometry表示，它是一个领先的人工智能按需制造市场。其买家包括从自筹资金的初创企业到财富100强公司的企业。自成立以来，已通过Xometry平台制造了超过600万个零件。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IAS\">Integral Ad Science Holding LLC</a> </b>plans to raise $240 million at a $2.5 billion market cap. The company’s technology provides metrics designed to verify that digital ads are served to a real person, viewable on-screen, and appear in a brand-safe and suitable environment in the correct geography. Profitable on an EBIT basis, Integral Ad Science served over 2,000 customers as of 3/31/21.</p><p><blockquote><b><a href=\"https://laohu8.com/S/IAS\">积分广告科学控股有限责任公司</a></b>计划以25亿美元的市值筹集2.4亿美元。该公司的技术提供了旨在验证数字广告是否提供给真人、可在屏幕上查看、并出现在正确地理位置的品牌安全和合适的环境中的指标。截至2011年3月31日，Integral Ad Science在EBIT实现盈利，为2,000多名客户提供服务。</blockquote></p><p></p><p> Plus-sized women’s apparel brand&nbsp;<b><a href=\"https://laohu8.com/S/CURV\">Torrid Holdings</a> </b>plans to raise $156 million at a $2.1 billion market cap. Torrid is the largest direct-to-consumer brand of women's plus-size apparel and intimates in North America by net sales. The profitable company markets directly to consumers via physical stores and its e-commerce platform, which represented a majority of sales in the 12 months ended 5/1/21.</p><p><blockquote>大码女装品牌<b><a href=\"https://laohu8.com/S/CURV\">托瑞德控股</a></b>计划以21亿美元的市值筹集1.56亿美元。按净销售额计算，Torrid是北美最大的直接面向消费者的女性大码服装和内衣品牌。这家盈利的公司通过实体店及其电子商务平台直接向消费者营销，这占截至2011年5月1日的12个月销售额的大部分。</blockquote></p><p> Alzheimer’s biotech&nbsp;<b><a href=\"https://laohu8.com/S/ABOS\">Acumen Pharmaceuticals, Inc.</a></b> plans to raise $125 million at a $607 million market cap. The company's lead candidate, ACU193, is a humanized monoclonal antibody that selectively targets amyloid-beta oligomers. ACU193 entered a Phase 1 trial in patients with mild dementia or cognitive impairment due to AD in the 2Q21, with data expected by year end 2022.</p><p><blockquote>阿尔茨海默病生物技术<b><a href=\"https://laohu8.com/S/ABOS\">Acumen制药公司。</a></b>计划以6.07亿美元的市值筹集1.25亿美元。该公司的主要候选药物ACU193是一种选择性靶向β淀粉样蛋白寡聚体的人源化单克隆抗体。ACU193在2021年第二季度进入了针对轻度痴呆或AD导致认知障碍患者的1期试验，预计将于2022年底获得数据。</blockquote></p><p> Digital financial services provider&nbsp;<b>AMTD Digital</b>(<a href=\"https://laohu8.com/S/HKD\">$(HKD)$</a>) plans to raise $120 million at a $1.4 billion market cap. AMTD Digital states that it is the \"fusion reactor\" at the core of the AMTD SpiderNet ecosystem, operating a comprehensive digital solutions platform in Asia. Profitable with explosive growth, the company primarily generates revenue from fees and commissions in two lines of business.</p><p><blockquote>数字金融服务提供商<b>尚乘数科</b>(<a href=\"https://laohu8.com/S/HKD\">$(港币)$</a>）计划以14亿美元的市值筹集1.2亿美元。尚乘数科表示，它是尚乘蜘蛛网生态系统核心的“聚变反应堆”，在亚洲运营着全面的数字化解决方案平台。该公司利润呈爆炸式增长，主要通过两个业务线的费用和佣金产生收入。</blockquote></p><p> Drug formulation developer&nbsp;<b>Aerovate Therapeutics</b>(<a href=\"https://laohu8.com/S/AVTE\">$(AVTE)$</a>) plans to raise $100 million at a $325 million market cap. Aerovate's initial focus is on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension (PAH). The company has completed a Phase 1 study in healthy volunteers and expects to begin a Phase 2b/3 trial in PAH patients in the 2H21.</p><p><blockquote>药物制剂开发人员<b>Aerovate疗法</b>(<a href=\"https://laohu8.com/S/AVTE\">$(AVTE)$</a>）计划以3.25亿美元的市值筹集1亿美元。Aerovate最初的重点是推进AV-101，这是一种用于治疗肺动脉高压（PAH）的伊马替尼干粉吸入制剂。该公司已完成针对健康志愿者的1期研究，并预计将于2021年下半年开始针对PAH患者的2b/3期试验。</blockquote></p><p> Neuromodulation device provider<b>&nbsp;<a href=\"https://laohu8.com/S/CVRX\">CVRx Inc</a> </b>plans to raise $100 million at a $333 million market cap. CVRx manufactures and markets its minimally invasive neuromodulation solutions on its proprietary BAROSTIM platform. The company's states that its BAROSTEM NEO product is the first and only commercially available neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction.</p><p><blockquote>神经调节设备提供商<b> <a href=\"https://laohu8.com/S/CVRX\">CVRx公司</a></b>计划以3.33亿美元的市值筹集1亿美元。CVRx在其专有的BAROSTIM平台上制造和销售其微创神经调节解决方案。该公司表示，其BAROSTEM NEO产品是第一款也是唯一一款可用于改善射血分数降低的心力衰竭患者症状的商用神经调节设备。</blockquote></p><p> Belgium-listed&nbsp;<b>Nyxoah</b>(<a href=\"https://laohu8.com/S/NYXH\">$(NYXH)$</a>) plans to raise $87 million at an $803 million market cap. Nyxoah's lead product is the Genio system, a CE-marked, minimally-invasive hypoglossal neurostimulation therapy for obstructive sleep apnea. The company began generating revenue from Genio in Europe in July 2020 and is currently conducting a pivotal trial designed to support marketing authorization in the US.</p><p><blockquote>比利时上市<b>尼克斯阿</b>(<a href=\"https://laohu8.com/S/NYXH\">$(NYXH)$</a>）计划以8.03亿美元的市值筹集8700万美元。Nyxoah的主导产品是Genio系统，这是一种通过CE认证的微创舌下神经刺激疗法，用于治疗阻塞性睡眠呼吸暂停。该公司于2020年7月开始在欧洲从Genio产生收入，目前正在进行一项旨在支持美国营销授权的关键试验。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/58f28d5f7f3b8e686c0bd006c2968b99\" tg-width=\"1131\" tg-height=\"684\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/508f1118f1d92b2b76391bc3610bd6c4\" tg-width=\"1131\" tg-height=\"657\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ed04cd42fa30b460fcf67e07efa6ddc7\" tg-width=\"1130\" tg-height=\"166\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/24/21, the Renaissance IPO Index was up 2.7% year-to-date, while the S&amp;P 500 was up 13.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 1.5% year-to-date, while the ACWX was up 10.3%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月24日，文艺复兴IPO指数今年迄今上涨2.7%，而标普500上涨13.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有的顶级ETF包括Snowflake（SNOW）和Palantir Technologies（PLTR）。Renaissance International IPO指数今年迄今下跌1.5%，而ACWX指数上涨10.3%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有的顶级ETF包括思摩尔国际和殷拓合伙人。</blockquote></p><p></p>","source":"lsy1603787993745","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Week Ahead: DiDi makes its billion-dollar debut in a 17 IPO week<blockquote>美国IPO未来一周：滴滴在17个IPO周内首次亮相10亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS IPO Week Ahead: DiDi makes its billion-dollar debut in a 17 IPO week<blockquote>美国IPO未来一周：滴滴在17个IPO周内首次亮相10亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-06-28 17:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>17 IPOs are slated to raise $9.1 billion in this week, led by long-awaited Chinese ride-hailing giant<b>&nbsp;<a href=\"https://laohu8.com/S/DIDI\">DiDi Global Inc.</a>.</b></p><p><blockquote>本周17起IPO预计筹集91亿美元，由期待已久的中国网约车巨头领投<b> <a href=\"https://laohu8.com/S/DIDI\">滴滴全球公司。</a>.</b></blockquote></p><p> <b>DiDi</b>&nbsp;plans to raise $3.9 billion at a $67.5 billion market cap. DiDi is China’s dominant ride-hailing app, with 15 million drivers across 4,000 cities and towns. The unprofitable company saw revenue more than double in the 1Q21 as its business recovered post-pandemic.New and existing investors intend to purchase $1.3 billion of the IPO.</p><p><blockquote><b>迪迪</b>计划以675亿美元的市值筹集39亿美元。滴滴是中国占主导地位的打车应用程序，在4000个城镇拥有1500万司机。随着业务在疫情后复苏，这家尚未盈利的公司在2021年第一季度的收入增长了一倍多。新老投资者打算购买13亿美元的IPO。</blockquote></p><p> Cybersecurity platform&nbsp;<b><a href=\"https://laohu8.com/S/S\">SentinelOne, Inc</a></b> plans to raise $880 million at an $8.2 billion market cap. SentinelOne's Singularity Platform is an AI-powered extended detection and response platform that ingests, correlates and queries petabytes of structured and unstructured data to provide autonomous cybersecurity defense. Fast growing and unprofitable, the company had over 4,700 customers as of 4/30/21, up from 2,700 a year prior.</p><p><blockquote>网络安全平台<b><a href=\"https://laohu8.com/S/S\">哨兵一号公司</a></b>计划以82亿美元的市值筹集8.8亿美元。SentinelOne的Singularity平台是一个人工智能驱动的扩展检测和响应平台，可以摄取、关联和查询PB的结构化和非结构化数据，以提供自主网络安全防御。截至2011年4月30日，该公司快速增长且未盈利，拥有超过4,700名客户，高于一年前的2,700名。</blockquote></p><p> Turkish e-commerce platform&nbsp;<b>D-MARKET Electronic Services &amp; Trading</b>(HEPS) plans to raise $681 million at a $3.9 billion market cap. Operating under the name Hepsiburada, the company connected 33 million members, 9 million Active Customers, and a base of approximately 45 thousand Active Merchants in 2020. The company is fast growing but EBITDA swung negative in the 1Q21.</p><p><blockquote>土耳其电商平台<b>D-MARKET电子服务与交易</b>(HEPS)计划以39亿美元的市值筹集6.81亿美元。该公司以Hepsiburada的名义运营，在2020年连接了3300万会员、900万活跃客户和约4.5万家活跃商户。该公司增长迅速，但EBITDA在2021年第一季度上转为负值。</blockquote></p><p> Doughnut brand&nbsp;<a href=\"https://laohu8.com/S/DNUT\"><b>Krispy Kreme, Inc.</a> </b>plans to raise $600 million at a $3.8 billion market cap. Krispy Kreme is an omni-channel business operating through a network of doughnut shops, partnerships with retailers, and an e-Commerce and delivery business. The company has a long track record and strong brand awareness, though its growth strategy is unproven.</p><p><blockquote>甜甜圈品牌<a href=\"https://laohu8.com/S/DNUT\"><b>克里斯皮·克雷姆公司。</b></a>计划以38亿美元的市值筹集6亿美元。Krispy Kreme是一家全渠道企业，通过甜甜圈店网络、与零售商的合作伙伴关系以及电子商务和送货业务运营。该公司拥有悠久的业绩记录和强大的品牌知名度，尽管其增长战略尚未得到证实。</blockquote></p><p> Legal solutions provider&nbsp;<b><a href=\"https://laohu8.com/S/LZ\">LegalZoom.com, Inc</a> </b>plans to raise $488 million at a $5.3 billion market cap. LegalZoom states that it is a leading online platform for legal and compliance solutions, claiming that 10% of new LLCs and 5% of new corporations in the US were formed via LegalZoom in 2020. Profitable on an EBITDA basis in the 1Q21, the company operates across all 50 states and over 3,000 counties in the US.</p><p><blockquote>法律解决方案提供商<b><a href=\"https://laohu8.com/S/LZ\">LegalZoom.com公司</a></b>计划以53亿美元的市值筹集4.88亿美元。LegalZoom表示，它是法律和合规解决方案的领先在线平台，并声称2020年美国10%的新有限责任公司和5%的新公司是通过LegalZoom成立的。该公司在2021年第一季度以EBITDA为基础实现盈利，业务遍及美国所有50个州和3,000多个县。</blockquote></p><p> Identity verification platform&nbsp;<b><a href=\"https://laohu8.com/S/YOU\">Clear Secure, Inc.</a></b> plans to raise $376 million at a $4.1 billion market cap. Clear Secure's secure identity platform uses to automate the identity verification process, with main offerings including CLEAR Plus, a consumer aviation subscription service, and two mobile apps. As of 5/31/21, Clear Secure's network included 38 airports, 26 sports and entertainment partners, and 67 Health Pass-enabled partners.</p><p><blockquote>身份验证平台<b><a href=\"https://laohu8.com/S/YOU\">清晰安全公司。</a></b>计划以41亿美元的市值筹集3.76亿美元。Clear Secure的安全身份平台用于自动化身份验证过程，主要产品包括消费者航空订阅服务CLEAR Plus和两个移动应用程序。截至2011年5月31日，Clear Secure的网络包括38个机场、26个体育和娱乐合作伙伴以及67个支持健康通行证的合作伙伴。</blockquote></p><p> Chinese grocery delivery platform&nbsp;<b><a href=\"https://laohu8.com/S/DDL\">Dingdong (Cayman) Limited</a> </b>plans to raise $343 million at a $6.0 billion market cap. With fresh groceries as its core product categories, Dingdong states that it is the fastest growing on-demand e-commerce company in China. Unprofitable with explosive growth, the company had a 10% share of the on-demand e-commerce market by GMV in 2020.</p><p><blockquote>中国杂货配送平台<b><a href=\"https://laohu8.com/S/DDL\">叮咚（开曼）有限公司</a></b>计划以60亿美元的市值筹集3.43亿美元。叮咚表示，以生鲜杂货为核心产品类别，是中国发展最快的按需电子商务公司。由于爆炸式增长，该公司在2020年按GMV计算的按需电子商务市场份额为10%。</blockquote></p><p> SaaS solutions provider&nbsp;<b><a href=\"https://laohu8.com/S/EVCM\">EverCommerce Inc.</a></b> plans to raise $325 million at a $3.4 billion market cap. EverCommerce is a leading provider of integrated, vertically-tailored SaaS solutions for service-based SMBs. The company serves over 500,000 customers across three core verticals: Home Services, Health Services, and Fitness &amp; Wellness Services.</p><p><blockquote>SaaS解决方案提供商<b><a href=\"https://laohu8.com/S/EVCM\">EverCommerce公司。</a></b>计划以34亿美元的市值筹集3.25亿美元。EverCommerce是为服务型中小型企业提供垂直定制的集成SaaS解决方案的领先提供商。该公司为三个核心垂直领域的超过500,000名客户提供服务：家庭服务、健康服务以及健身与健康服务。</blockquote></p><p> Software provider&nbsp;<b><a href=\"https://laohu8.com/S/INTA\">Intapp, Inc.</a> </b>plans to raise $278 million at a $1.9 billion market cap. Intapp provides industry-specific, cloud-based software solutions for the professional and financial services industry globally. The company had over 1,600 clients as of March 31, 2021, and it currently has more than 20 clients with contracts greater than $1 million of ARR.</p><p><blockquote>软件供应商<b><a href=\"https://laohu8.com/S/INTA\">Intapp公司。</a></b>计划以19亿美元的市值筹集2.78亿美元。Intapp为全球专业和金融服务行业提供特定行业的基于云的软件解决方案。截至2021年3月31日，该公司拥有超过1,600名客户，目前有超过20名客户的合同ARR超过100万美元。</blockquote></p><p> Online manufacturing marketplace&nbsp;<b><a href=\"https://laohu8.com/S/XMTR\">Xometry, Inc.</a></b> plans to raise $275 million at a $1.9 billion market cap. Xometry states that it is a leading AI-enabled marketplace for on-demand manufacturing. Its buyers include businesses ranging from self-funded start-ups to Fortune 100 companies. Since its inception, over 6.0 million parts have been manufactured through Xometry's platform.</p><p><blockquote>在线制造市场<b><a href=\"https://laohu8.com/S/XMTR\">Xometry公司。</a></b>计划以19亿美元的市值筹集2.75亿美元。Xometry表示，它是一个领先的人工智能按需制造市场。其买家包括从自筹资金的初创企业到财富100强公司的企业。自成立以来，已通过Xometry平台制造了超过600万个零件。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/IAS\">Integral Ad Science Holding LLC</a> </b>plans to raise $240 million at a $2.5 billion market cap. The company’s technology provides metrics designed to verify that digital ads are served to a real person, viewable on-screen, and appear in a brand-safe and suitable environment in the correct geography. Profitable on an EBIT basis, Integral Ad Science served over 2,000 customers as of 3/31/21.</p><p><blockquote><b><a href=\"https://laohu8.com/S/IAS\">积分广告科学控股有限责任公司</a></b>计划以25亿美元的市值筹集2.4亿美元。该公司的技术提供了旨在验证数字广告是否提供给真人、可在屏幕上查看、并出现在正确地理位置的品牌安全和合适的环境中的指标。截至2011年3月31日，Integral Ad Science在EBIT实现盈利，为2,000多名客户提供服务。</blockquote></p><p></p><p> Plus-sized women’s apparel brand&nbsp;<b><a href=\"https://laohu8.com/S/CURV\">Torrid Holdings</a> </b>plans to raise $156 million at a $2.1 billion market cap. Torrid is the largest direct-to-consumer brand of women's plus-size apparel and intimates in North America by net sales. The profitable company markets directly to consumers via physical stores and its e-commerce platform, which represented a majority of sales in the 12 months ended 5/1/21.</p><p><blockquote>大码女装品牌<b><a href=\"https://laohu8.com/S/CURV\">托瑞德控股</a></b>计划以21亿美元的市值筹集1.56亿美元。按净销售额计算，Torrid是北美最大的直接面向消费者的女性大码服装和内衣品牌。这家盈利的公司通过实体店及其电子商务平台直接向消费者营销，这占截至2011年5月1日的12个月销售额的大部分。</blockquote></p><p> Alzheimer’s biotech&nbsp;<b><a href=\"https://laohu8.com/S/ABOS\">Acumen Pharmaceuticals, Inc.</a></b> plans to raise $125 million at a $607 million market cap. The company's lead candidate, ACU193, is a humanized monoclonal antibody that selectively targets amyloid-beta oligomers. ACU193 entered a Phase 1 trial in patients with mild dementia or cognitive impairment due to AD in the 2Q21, with data expected by year end 2022.</p><p><blockquote>阿尔茨海默病生物技术<b><a href=\"https://laohu8.com/S/ABOS\">Acumen制药公司。</a></b>计划以6.07亿美元的市值筹集1.25亿美元。该公司的主要候选药物ACU193是一种选择性靶向β淀粉样蛋白寡聚体的人源化单克隆抗体。ACU193在2021年第二季度进入了针对轻度痴呆或AD导致认知障碍患者的1期试验，预计将于2022年底获得数据。</blockquote></p><p> Digital financial services provider&nbsp;<b>AMTD Digital</b>(<a href=\"https://laohu8.com/S/HKD\">$(HKD)$</a>) plans to raise $120 million at a $1.4 billion market cap. AMTD Digital states that it is the \"fusion reactor\" at the core of the AMTD SpiderNet ecosystem, operating a comprehensive digital solutions platform in Asia. Profitable with explosive growth, the company primarily generates revenue from fees and commissions in two lines of business.</p><p><blockquote>数字金融服务提供商<b>尚乘数科</b>(<a href=\"https://laohu8.com/S/HKD\">$(港币)$</a>）计划以14亿美元的市值筹集1.2亿美元。尚乘数科表示，它是尚乘蜘蛛网生态系统核心的“聚变反应堆”，在亚洲运营着全面的数字化解决方案平台。该公司利润呈爆炸式增长，主要通过两个业务线的费用和佣金产生收入。</blockquote></p><p> Drug formulation developer&nbsp;<b>Aerovate Therapeutics</b>(<a href=\"https://laohu8.com/S/AVTE\">$(AVTE)$</a>) plans to raise $100 million at a $325 million market cap. Aerovate's initial focus is on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension (PAH). The company has completed a Phase 1 study in healthy volunteers and expects to begin a Phase 2b/3 trial in PAH patients in the 2H21.</p><p><blockquote>药物制剂开发人员<b>Aerovate疗法</b>(<a href=\"https://laohu8.com/S/AVTE\">$(AVTE)$</a>）计划以3.25亿美元的市值筹集1亿美元。Aerovate最初的重点是推进AV-101，这是一种用于治疗肺动脉高压（PAH）的伊马替尼干粉吸入制剂。该公司已完成针对健康志愿者的1期研究，并预计将于2021年下半年开始针对PAH患者的2b/3期试验。</blockquote></p><p> Neuromodulation device provider<b>&nbsp;<a href=\"https://laohu8.com/S/CVRX\">CVRx Inc</a> </b>plans to raise $100 million at a $333 million market cap. CVRx manufactures and markets its minimally invasive neuromodulation solutions on its proprietary BAROSTIM platform. The company's states that its BAROSTEM NEO product is the first and only commercially available neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction.</p><p><blockquote>神经调节设备提供商<b> <a href=\"https://laohu8.com/S/CVRX\">CVRx公司</a></b>计划以3.33亿美元的市值筹集1亿美元。CVRx在其专有的BAROSTIM平台上制造和销售其微创神经调节解决方案。该公司表示，其BAROSTEM NEO产品是第一款也是唯一一款可用于改善射血分数降低的心力衰竭患者症状的商用神经调节设备。</blockquote></p><p> Belgium-listed&nbsp;<b>Nyxoah</b>(<a href=\"https://laohu8.com/S/NYXH\">$(NYXH)$</a>) plans to raise $87 million at an $803 million market cap. Nyxoah's lead product is the Genio system, a CE-marked, minimally-invasive hypoglossal neurostimulation therapy for obstructive sleep apnea. The company began generating revenue from Genio in Europe in July 2020 and is currently conducting a pivotal trial designed to support marketing authorization in the US.</p><p><blockquote>比利时上市<b>尼克斯阿</b>(<a href=\"https://laohu8.com/S/NYXH\">$(NYXH)$</a>）计划以8.03亿美元的市值筹集8700万美元。Nyxoah的主导产品是Genio系统，这是一种通过CE认证的微创舌下神经刺激疗法，用于治疗阻塞性睡眠呼吸暂停。该公司于2020年7月开始在欧洲从Genio产生收入，目前正在进行一项旨在支持美国营销授权的关键试验。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/58f28d5f7f3b8e686c0bd006c2968b99\" tg-width=\"1131\" tg-height=\"684\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/508f1118f1d92b2b76391bc3610bd6c4\" tg-width=\"1131\" tg-height=\"657\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ed04cd42fa30b460fcf67e07efa6ddc7\" tg-width=\"1130\" tg-height=\"166\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/24/21, the Renaissance IPO Index was up 2.7% year-to-date, while the S&amp;P 500 was up 13.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 1.5% year-to-date, while the ACWX was up 10.3%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月24日，文艺复兴IPO指数今年迄今上涨2.7%，而标普500上涨13.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有的顶级ETF包括Snowflake（SNOW）和Palantir Technologies（PLTR）。Renaissance International IPO指数今年迄今下跌1.5%，而ACWX指数上涨10.3%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有的顶级ETF包括思摩尔国际和殷拓合伙人。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/83318/US-IPO-Week-Ahead-DiDi-makes-its-billion-dollar-debut-in-a-17-IPO-week\">Renaissance Capital</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":{"ABOS":"Acumen Pharmaceuticals, Inc.","DIDI":"滴滴(已退市)","IAS":"Integral Ad Science Holding","LZ":"LegalZoom.com, Inc","DNUT":"Krispy Kreme, Inc.","YOU":"Clear Secure, Inc.","CURV":"Torrid Holdings","XMTR":"Xometry, Inc.","HEPS":"D-MARKET Electronic Services & Trading","DDL":"叮咚买菜","EVCM":"EverCommerce Inc.","S":"SentinelOne, Inc","INTA":"Intapp, Inc.","CVRX":"CVRx, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/83318/US-IPO-Week-Ahead-DiDi-makes-its-billion-dollar-debut-in-a-17-IPO-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150095060","content_text":"17 IPOs are slated to raise $9.1 billion in this week, led by long-awaited Chinese ride-hailing giant DiDi Global Inc..\nDiDi plans to raise $3.9 billion at a $67.5 billion market cap. DiDi is China’s dominant ride-hailing app, with 15 million drivers across 4,000 cities and towns. The unprofitable company saw revenue more than double in the 1Q21 as its business recovered post-pandemic.New and existing investors intend to purchase $1.3 billion of the IPO.\nCybersecurity platform SentinelOne, Inc plans to raise $880 million at an $8.2 billion market cap. SentinelOne's Singularity Platform is an AI-powered extended detection and response platform that ingests, correlates and queries petabytes of structured and unstructured data to provide autonomous cybersecurity defense. Fast growing and unprofitable, the company had over 4,700 customers as of 4/30/21, up from 2,700 a year prior.\nTurkish e-commerce platform D-MARKET Electronic Services & Trading(HEPS) plans to raise $681 million at a $3.9 billion market cap. Operating under the name Hepsiburada, the company connected 33 million members, 9 million Active Customers, and a base of approximately 45 thousand Active Merchants in 2020. The company is fast growing but EBITDA swung negative in the 1Q21.\nDoughnut brand Krispy Kreme, Inc. plans to raise $600 million at a $3.8 billion market cap. Krispy Kreme is an omni-channel business operating through a network of doughnut shops, partnerships with retailers, and an e-Commerce and delivery business. The company has a long track record and strong brand awareness, though its growth strategy is unproven.\nLegal solutions provider LegalZoom.com, Inc plans to raise $488 million at a $5.3 billion market cap. LegalZoom states that it is a leading online platform for legal and compliance solutions, claiming that 10% of new LLCs and 5% of new corporations in the US were formed via LegalZoom in 2020. Profitable on an EBITDA basis in the 1Q21, the company operates across all 50 states and over 3,000 counties in the US.\nIdentity verification platform Clear Secure, Inc. plans to raise $376 million at a $4.1 billion market cap. Clear Secure's secure identity platform uses to automate the identity verification process, with main offerings including CLEAR Plus, a consumer aviation subscription service, and two mobile apps. As of 5/31/21, Clear Secure's network included 38 airports, 26 sports and entertainment partners, and 67 Health Pass-enabled partners.\nChinese grocery delivery platform Dingdong (Cayman) Limited plans to raise $343 million at a $6.0 billion market cap. With fresh groceries as its core product categories, Dingdong states that it is the fastest growing on-demand e-commerce company in China. Unprofitable with explosive growth, the company had a 10% share of the on-demand e-commerce market by GMV in 2020.\nSaaS solutions provider EverCommerce Inc. plans to raise $325 million at a $3.4 billion market cap. EverCommerce is a leading provider of integrated, vertically-tailored SaaS solutions for service-based SMBs. The company serves over 500,000 customers across three core verticals: Home Services, Health Services, and Fitness & Wellness Services.\nSoftware provider Intapp, Inc. plans to raise $278 million at a $1.9 billion market cap. Intapp provides industry-specific, cloud-based software solutions for the professional and financial services industry globally. The company had over 1,600 clients as of March 31, 2021, and it currently has more than 20 clients with contracts greater than $1 million of ARR.\nOnline manufacturing marketplace Xometry, Inc. plans to raise $275 million at a $1.9 billion market cap. Xometry states that it is a leading AI-enabled marketplace for on-demand manufacturing. Its buyers include businesses ranging from self-funded start-ups to Fortune 100 companies. Since its inception, over 6.0 million parts have been manufactured through Xometry's platform.\nIntegral Ad Science Holding LLC plans to raise $240 million at a $2.5 billion market cap. The company’s technology provides metrics designed to verify that digital ads are served to a real person, viewable on-screen, and appear in a brand-safe and suitable environment in the correct geography. Profitable on an EBIT basis, Integral Ad Science served over 2,000 customers as of 3/31/21.\nPlus-sized women’s apparel brand Torrid Holdings plans to raise $156 million at a $2.1 billion market cap. Torrid is the largest direct-to-consumer brand of women's plus-size apparel and intimates in North America by net sales. The profitable company markets directly to consumers via physical stores and its e-commerce platform, which represented a majority of sales in the 12 months ended 5/1/21.\nAlzheimer’s biotech Acumen Pharmaceuticals, Inc. plans to raise $125 million at a $607 million market cap. The company's lead candidate, ACU193, is a humanized monoclonal antibody that selectively targets amyloid-beta oligomers. ACU193 entered a Phase 1 trial in patients with mild dementia or cognitive impairment due to AD in the 2Q21, with data expected by year end 2022.\nDigital financial services provider AMTD Digital($(HKD)$) plans to raise $120 million at a $1.4 billion market cap. AMTD Digital states that it is the \"fusion reactor\" at the core of the AMTD SpiderNet ecosystem, operating a comprehensive digital solutions platform in Asia. Profitable with explosive growth, the company primarily generates revenue from fees and commissions in two lines of business.\nDrug formulation developer Aerovate Therapeutics($(AVTE)$) plans to raise $100 million at a $325 million market cap. Aerovate's initial focus is on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension (PAH). The company has completed a Phase 1 study in healthy volunteers and expects to begin a Phase 2b/3 trial in PAH patients in the 2H21.\nNeuromodulation device provider CVRx Inc plans to raise $100 million at a $333 million market cap. CVRx manufactures and markets its minimally invasive neuromodulation solutions on its proprietary BAROSTIM platform. The company's states that its BAROSTEM NEO product is the first and only commercially available neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction.\nBelgium-listed Nyxoah($(NYXH)$) plans to raise $87 million at an $803 million market cap. Nyxoah's lead product is the Genio system, a CE-marked, minimally-invasive hypoglossal neurostimulation therapy for obstructive sleep apnea. The company began generating revenue from Genio in Europe in July 2020 and is currently conducting a pivotal trial designed to support marketing authorization in the US.\n\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/24/21, the Renaissance IPO Index was up 2.7% year-to-date, while the S&P 500 was up 13.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 1.5% year-to-date, while the ACWX was up 10.3%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.","news_type":1,"symbols_score_info":{"HKIB":0.9,"DIDI":0.9,"ABOS":0.9,"YOU":0.9,"IAS":0.9,"INTA":0.9,"S":0.9,"CURV":0.9,"LZ":0.9,"XMTR":0.9,"CVRX":0.9,"DDL":0.9,"HEPS":0.9,"EVCM":0.9,"DNUT":0.9}},"isVote":1,"tweetType":1,"viewCount":665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125843501,"gmtCreate":1624669120503,"gmtModify":1631888248191,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581497141923960","authorIdStr":"3581497141923960"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125843501","repostId":"114899451","repostType":1,"repost":{"id":114899451,"gmtCreate":1623063308869,"gmtModify":1631884627596,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"【老虎7周年】集卡瓜分百万奖金","htmlText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","listText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 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ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122374446","repostId":"114899451","repostType":1,"repost":{"id":114899451,"gmtCreate":1623063308869,"gmtModify":1631884627596,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"【老虎7周年】集卡瓜分百万奖金","htmlText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","listText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 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ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123078954","repostId":"114899451","repostType":1,"repost":{"id":114899451,"gmtCreate":1623063308869,"gmtModify":1631884627596,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"【老虎7周年】集卡瓜分百万奖金","htmlText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 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would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/120148223","repostId":"114899451","repostType":1,"repost":{"id":114899451,"gmtCreate":1623063308869,"gmtModify":1631884627596,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"【老虎7周年】集卡瓜分百万奖金","htmlText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","listText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","text":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ 戳我即可参与活动 \u0001如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。\u0001如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 \u0001 \u0001如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。\u0001 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP > 我的 > 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","images":[{"img":"https://static.tigerbbs.com/ab28db31a19b458d604a8bf02becddd3","width":"415","height":"125"},{"img":"https://static.tigerbbs.com/5227ebb594fe55b532c840acef147d7b","width":"415","height":"495"},{"img":"https://static.tigerbbs.com/92e88357b534f504b3088bc22f577a83","width":"415","height":"326"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/114899451","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":8,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":570,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164557502,"gmtCreate":1624231324106,"gmtModify":1631888248281,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581497141923960","authorIdStr":"3581497141923960"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/164557502","repostId":"114899451","repostType":1,"repost":{"id":114899451,"gmtCreate":1623063308869,"gmtModify":1631884627596,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"【老虎7周年】集卡瓜分百万奖金","htmlText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","listText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","text":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ 戳我即可参与活动 \u0001如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。\u0001如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 \u0001 \u0001如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。\u0001 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP > 我的 > 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 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next boom 💥&nbsp;","listText":"AGC next boom 💥&nbsp;","text":"AGC next boom 💥","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/846729898","repostId":"1156660858","repostType":2,"repost":{"id":"1156660858","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":1636113788,"share":"https://www.laohu8.com/m/news/1156660858?lang=zh_CN&edition=full","pubTime":"2021-11-05 20:03","market":"us","language":"en","title":"Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1156660858","media":"Tiger Newspress","summary":"Futures tracking the S&P 500 and Nasdaq indexes hit a record high on Friday, boosted by a batch of s","content":"<p>Futures tracking the S&amp;P 500 and Nasdaq indexes hit a record high on Friday, boosted by a batch of strong earnings reports and Pfizer, while investors looked to monthly employment data for clues on the pace of economic growth.</p><p><blockquote>受一批强劲财报和辉瑞的提振，跟踪标普500和纳斯达克指数的期货周五创下历史新高，而投资者则从月度就业数据中寻找经济增长步伐的线索。</blockquote></p><p> At 08:00 a.m. ET, Dow e-minis were up 54 points, or 0.15%, S&amp;P 500 e-minis were up 10.75 points, or 0.23%, and Nasdaq 100 e-minis were up 23.75 points, or 0.15%.</p><p><blockquote>截至美国东部时间上午08:00，道指e-mini上涨54点，涨幅0.15%，标普500 e-mini上涨10.75点，涨幅0.23%，纳斯达克100 e-mini上涨23.75点，涨幅0.15%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1e1332bf1b10c768776f84a7da4d481e\" tg-width=\"1080\" tg-height=\"390\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Travel stocks rose following the news, with American Airline , United Airlines, Delta Air Lines, cruise operators Carnival Corp and Norwegian Cruise rising between 2% and 4%.</p><p><blockquote>消息传出后，旅游股上涨，美国航空、联合航空、达美航空、邮轮运营商嘉年华公司和挪威邮轮上涨2%至4%。</blockquote></p><p> The U.S. economy added more jobs than expected in October while the unemployment rate fell to 4.6%, the Labor Department reported Friday.Nonfarm payrolls increased by 531,000 for the month, compared to the Dow Jones estimate of 450,000. The unemployment rate had been expected to edge down to 4.7%.</p><p><blockquote>美国劳工部周五报告称，10月份美国经济新增就业岗位超出预期，失业率降至4.6%。当月非农就业人数增加53.1万人，而道琼斯估计为45万人。失业率预计将小幅下降至4.7%。</blockquote></p><p> Meanwhile, the U.S. House of Representatives is expected to vote on Friday on the social policy and climate-change bill and a bipartisan infrastructure bill.</p><p><blockquote>与此同时，美国众议院预计将于周五就社会政策和气候变化法案以及两党基础设施法案进行投票。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Pfizer(PFE)</b> – The drug maker's shares surged 10.4% in premarket trading after a study showed that its experimental Covid-19 antiviral pill reduced the risk of hospitalization and death by nearly 90%. Pfizer said it will ask regulators to approve the pill as soon as possible.</p><p><blockquote><b>辉瑞(PFE)</b>-一项研究显示，该制药商的实验性Covid-19抗病毒药物可将住院和死亡风险降低近90%，该制药商的股价在盘前交易中飙升10.4%。辉瑞表示，将要求监管机构尽快批准该药物。</blockquote></p><p> <b>DraftKings(DKNG)</b> – The sports betting company’s stock slid 10% in the premarket after it reported a wider-than-expected loss and revenue that fell short of Street forecasts. DraftKings did raise the midpoint of its fiscal 2021 revenue guidance and said it expected a strong 2022.</p><p><blockquote><b>DraftKings(DKNG)</b>–这家体育博彩公司公布亏损超出预期且收入低于华尔街预测，该公司股价在盘前下跌10%。DraftKings确实提高了2021财年收入指引的中点，并表示预计2022财年将表现强劲。</blockquote></p><p> <b>Nvidia(NVDA)&nbsp;</b>–&nbsp;Nvidia shares rose&nbsp;3% in premarket trading Friday&nbsp;after a 12% rise yesterday.Well Fargo Securities analyst Aaron Rakers reiterated an Overweight rating on Nvidia and bumped up the price target from $245 to $320.</p><p><blockquote><b>英伟达(NVDA)</b>-英伟达股价继昨天上涨12%后，周五盘前交易中上涨3%。富国证券分析师Aaron Rakers重申了对英伟达的跑赢大盘评级，并将目标价从245美元上调至320美元。</blockquote></p><p> <b>Peloton(PTON)</b> – Peloton tumbled 33% in the premarket after the fitness equipment maker slashed its full-year sales forecast by $1 billion, amid slowing demand for bikes and treadmills. Peloton also reported a quarterly loss of $1.21 per share, wider than the $1.07 loss expected by analysts, and revenue fell short of estimates as well.</p><p><blockquote><b>Peloton(PTON)</b>-由于自行车和跑步机需求放缓，健身器材制造商Peloton将全年销售额预测下调了10亿美元，盘前股价暴跌33%。Peloton还报告季度每股亏损1.21美元，高于分析师预期的1.07美元，营收也低于预期。</blockquote></p><p> <b>Expedia(EXPE)</b> – Expedia earned an adjusted $3.53 per share for its latest quarter, well above the $1.65 consensus estimate. Revenue was also higher than expected, with the travel services company benefiting from the surge in travel demand. Expedia soared 13.7% in premarket trading.</p><p><blockquote><b>Expedia(EXPE)</b>-Expedia最近一个季度调整后每股收益为3.53美元，远高于市场普遍预期的1.65美元。收入也高于预期，这家旅游服务公司受益于旅行需求的激增。Expedia在盘前交易中飙升13.7%。</blockquote></p><p> <b>Airbnb(ABNB)</b> – Airbnb rallied 5.9% in the premarket as the travel-demand surge lifted sales and earnings beyond Wall Street forecasts. Airbnb earned $1.22 per share for its latest quarter, beating the $0.75 consensus estimate, with sales coming in at a record high. The company also said it expects a strong holiday season.</p><p><blockquote><b>爱彼迎(ABNB)</b>-爱彼迎盘前上涨5.9%，因旅游需求激增推动销售额和盈利超出华尔街预期。爱彼迎最近一个季度每股收益1.22美元，超过市场普遍预期的0.75美元，销售额创历史新高。该公司还表示，预计假期将会很强劲。</blockquote></p><p> <b>Uber Technologies(UBER) </b>– Uber reported its first profitable quarter on an adjusted basis, thanks to upbeat performances by its ride-sharing and food delivery services. It did post an overall loss due to the drop in value of its stake in China ride-hailing company&nbsp;Didi(DIDI). Uber rose 2.5% in premarket trading.</p><p><blockquote><b>优步科技(UBER)</b>-由于拼车和送餐服务的乐观表现，优步报告了调整后的第一个盈利季度。由于其在中国网约车公司滴滴（DIDI）的股份价值下跌，该公司确实出现了整体亏损。Uber在盘前交易中上涨2.5%。</blockquote></p><p> <b>Pinterest(PINS)</b> – Pinterest came in 5 cents above estimates with an adjusted quarterly profit of 28 cents per share, and the image-sharing site operator’s revenue also topped analyst forecasts. It is also predicting an upbeat current quarter as the online retailer spends more on holiday season ads. Pinterest jumped 3.8% in premarket action.</p><p><blockquote><b>Pinterest(PINS)</b>-Pinterest调整后季度利润为每股28美分，比预期高出5美分，这家图像共享网站运营商的收入也超出了分析师的预期。它还预测，随着这家在线零售商在假日广告上的支出增加，本季度将会乐观。Pinterest在盘前股价上涨3.8%。</blockquote></p><p> <b>Square(SQ)</b> -Square matched estimates with quarterly earnings of 37 cents per share, while the mobile payments company’s revenue missed forecasts. Square did see a nearly 60% rise in profit from a year earlier, thanks in large part to a surge in bitcoin transactions, but the stock dropped 3.5% in premarket trading.</p><p><blockquote><b>平方(SQ)</b>-Square的季度收益为每股37美分，符合预期，而这家移动支付公司的收入未达到预期。Square的利润确实较上年同期增长了近60%，这在很大程度上要归功于比特币交易的激增，但该股在盘前交易中下跌了3.5%。</blockquote></p><p> <b>Canopy Growth(CGC)</b> – The Canadian cannabis producer lost 3 cents per share for its latest quarter, smaller than the 20-cent loss expected by analysts. However, revenue fell short of estimates and the company flagged slower-than-expected revenue growth for the second half of fiscal 2022. The stock fell 2.7% in the premarket.</p><p><blockquote><b>冠层生长(CGC)</b>-这家加拿大大麻生产商最近一个季度每股亏损3美分，小于分析师预期的20美分亏损。然而，收入低于预期，该公司表示2022财年下半年的收入增长低于预期。该股盘前下跌2.7%。</blockquote></p><p> <b>Shake Shack(SHAK)</b> – Shake Shack reported a quarterly loss of 5 cents per share, 1 cent less than Wall Street had anticipated, but the restaurant chain’s sales missed analyst forecasts. Despite the revenue miss, Shake Shack rallied 7.6% in the premarket.</p><p><blockquote><b>Shake Shack(SHAK)</b>-Shake Shack公布季度每股亏损5美分，比华尔街预期少1美分，但该连锁餐厅的销售额未达到分析师预期。尽管营收未达预期，Shake Shack盘前仍上涨7.6%。</blockquote></p><p> <b>Canada Goose(GOOS)</b> – The outerwear maker reported an unexpected profit for its latest quarter along with better-than-expected revenue, and also raised its full-year forecast. Canada Goose also said it’s seeing an indication of a strong winter season, and shares jumped 7.4% in the premarket.</p><p><blockquote><b>加拿大鹅(GOOS)</b>-这家外套制造商公布了最近一个季度的意外利润以及好于预期的收入，并上调了全年预期。Canada Goose还表示，它看到了冬季强劲的迹象，股价在盘前上涨了7.4%。</blockquote></p><p></p><p> <b>Live Nation Entertainment(LYV) </b>– Live Nation shares rallied 5.4% in premarket action after the event promoter returned to profit amid a sales surge as live events returned. Results exceeded analyst estimates.</p><p><blockquote><b>现场国家娱乐(LYV)</b>-Live Nation股价在盘前上涨5.4%，此前随着现场活动回归，销售额激增，活动主办方恢复盈利。结果超出了分析师的预期。</blockquote></p><p> <b>Lions Gate Entertainment(LGF)</b> – The movie and tv studio is considering a sale or spin-off of its Starz premium cable channel, saying it sees the potential to unlock significant shareholder value. The stock surged 15.1% in the premarket.</p><p><blockquote><b>狮门娱乐(LGF)</b>-该电影和电视工作室正在考虑出售或分拆其Starz付费有线频道，称其看到了释放巨大股东价值的潜力。该股盘前飙升15.1%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-05 20:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Futures tracking the S&amp;P 500 and Nasdaq indexes hit a record high on Friday, boosted by a batch of strong earnings reports and Pfizer, while investors looked to monthly employment data for clues on the pace of economic growth.</p><p><blockquote>受一批强劲财报和辉瑞的提振，跟踪标普500和纳斯达克指数的期货周五创下历史新高，而投资者则从月度就业数据中寻找经济增长步伐的线索。</blockquote></p><p> At 08:00 a.m. ET, Dow e-minis were up 54 points, or 0.15%, S&amp;P 500 e-minis were up 10.75 points, or 0.23%, and Nasdaq 100 e-minis were up 23.75 points, or 0.15%.</p><p><blockquote>截至美国东部时间上午08:00，道指e-mini上涨54点，涨幅0.15%，标普500 e-mini上涨10.75点，涨幅0.23%，纳斯达克100 e-mini上涨23.75点，涨幅0.15%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1e1332bf1b10c768776f84a7da4d481e\" tg-width=\"1080\" tg-height=\"390\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Travel stocks rose following the news, with American Airline , United Airlines, Delta Air Lines, cruise operators Carnival Corp and Norwegian Cruise rising between 2% and 4%.</p><p><blockquote>消息传出后，旅游股上涨，美国航空、联合航空、达美航空、邮轮运营商嘉年华公司和挪威邮轮上涨2%至4%。</blockquote></p><p> The U.S. economy added more jobs than expected in October while the unemployment rate fell to 4.6%, the Labor Department reported Friday.Nonfarm payrolls increased by 531,000 for the month, compared to the Dow Jones estimate of 450,000. The unemployment rate had been expected to edge down to 4.7%.</p><p><blockquote>美国劳工部周五报告称，10月份美国经济新增就业岗位超出预期，失业率降至4.6%。当月非农就业人数增加53.1万人，而道琼斯估计为45万人。失业率预计将小幅下降至4.7%。</blockquote></p><p> Meanwhile, the U.S. House of Representatives is expected to vote on Friday on the social policy and climate-change bill and a bipartisan infrastructure bill.</p><p><blockquote>与此同时，美国众议院预计将于周五就社会政策和气候变化法案以及两党基础设施法案进行投票。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Pfizer(PFE)</b> – The drug maker's shares surged 10.4% in premarket trading after a study showed that its experimental Covid-19 antiviral pill reduced the risk of hospitalization and death by nearly 90%. Pfizer said it will ask regulators to approve the pill as soon as possible.</p><p><blockquote><b>辉瑞(PFE)</b>-一项研究显示，该制药商的实验性Covid-19抗病毒药物可将住院和死亡风险降低近90%，该制药商的股价在盘前交易中飙升10.4%。辉瑞表示，将要求监管机构尽快批准该药物。</blockquote></p><p> <b>DraftKings(DKNG)</b> – The sports betting company’s stock slid 10% in the premarket after it reported a wider-than-expected loss and revenue that fell short of Street forecasts. DraftKings did raise the midpoint of its fiscal 2021 revenue guidance and said it expected a strong 2022.</p><p><blockquote><b>DraftKings(DKNG)</b>–这家体育博彩公司公布亏损超出预期且收入低于华尔街预测，该公司股价在盘前下跌10%。DraftKings确实提高了2021财年收入指引的中点，并表示预计2022财年将表现强劲。</blockquote></p><p> <b>Nvidia(NVDA)&nbsp;</b>–&nbsp;Nvidia shares rose&nbsp;3% in premarket trading Friday&nbsp;after a 12% rise yesterday.Well Fargo Securities analyst Aaron Rakers reiterated an Overweight rating on Nvidia and bumped up the price target from $245 to $320.</p><p><blockquote><b>英伟达(NVDA)</b>-英伟达股价继昨天上涨12%后，周五盘前交易中上涨3%。富国证券分析师Aaron Rakers重申了对英伟达的跑赢大盘评级，并将目标价从245美元上调至320美元。</blockquote></p><p> <b>Peloton(PTON)</b> – Peloton tumbled 33% in the premarket after the fitness equipment maker slashed its full-year sales forecast by $1 billion, amid slowing demand for bikes and treadmills. Peloton also reported a quarterly loss of $1.21 per share, wider than the $1.07 loss expected by analysts, and revenue fell short of estimates as well.</p><p><blockquote><b>Peloton(PTON)</b>-由于自行车和跑步机需求放缓，健身器材制造商Peloton将全年销售额预测下调了10亿美元，盘前股价暴跌33%。Peloton还报告季度每股亏损1.21美元，高于分析师预期的1.07美元，营收也低于预期。</blockquote></p><p> <b>Expedia(EXPE)</b> – Expedia earned an adjusted $3.53 per share for its latest quarter, well above the $1.65 consensus estimate. Revenue was also higher than expected, with the travel services company benefiting from the surge in travel demand. Expedia soared 13.7% in premarket trading.</p><p><blockquote><b>Expedia(EXPE)</b>-Expedia最近一个季度调整后每股收益为3.53美元，远高于市场普遍预期的1.65美元。收入也高于预期，这家旅游服务公司受益于旅行需求的激增。Expedia在盘前交易中飙升13.7%。</blockquote></p><p> <b>Airbnb(ABNB)</b> – Airbnb rallied 5.9% in the premarket as the travel-demand surge lifted sales and earnings beyond Wall Street forecasts. Airbnb earned $1.22 per share for its latest quarter, beating the $0.75 consensus estimate, with sales coming in at a record high. The company also said it expects a strong holiday season.</p><p><blockquote><b>爱彼迎(ABNB)</b>-爱彼迎盘前上涨5.9%，因旅游需求激增推动销售额和盈利超出华尔街预期。爱彼迎最近一个季度每股收益1.22美元，超过市场普遍预期的0.75美元，销售额创历史新高。该公司还表示，预计假期将会很强劲。</blockquote></p><p> <b>Uber Technologies(UBER) </b>– Uber reported its first profitable quarter on an adjusted basis, thanks to upbeat performances by its ride-sharing and food delivery services. It did post an overall loss due to the drop in value of its stake in China ride-hailing company&nbsp;Didi(DIDI). Uber rose 2.5% in premarket trading.</p><p><blockquote><b>优步科技(UBER)</b>-由于拼车和送餐服务的乐观表现，优步报告了调整后的第一个盈利季度。由于其在中国网约车公司滴滴（DIDI）的股份价值下跌，该公司确实出现了整体亏损。Uber在盘前交易中上涨2.5%。</blockquote></p><p> <b>Pinterest(PINS)</b> – Pinterest came in 5 cents above estimates with an adjusted quarterly profit of 28 cents per share, and the image-sharing site operator’s revenue also topped analyst forecasts. It is also predicting an upbeat current quarter as the online retailer spends more on holiday season ads. Pinterest jumped 3.8% in premarket action.</p><p><blockquote><b>Pinterest(PINS)</b>-Pinterest调整后季度利润为每股28美分，比预期高出5美分，这家图像共享网站运营商的收入也超出了分析师的预期。它还预测，随着这家在线零售商在假日广告上的支出增加，本季度将会乐观。Pinterest在盘前股价上涨3.8%。</blockquote></p><p> <b>Square(SQ)</b> -Square matched estimates with quarterly earnings of 37 cents per share, while the mobile payments company’s revenue missed forecasts. Square did see a nearly 60% rise in profit from a year earlier, thanks in large part to a surge in bitcoin transactions, but the stock dropped 3.5% in premarket trading.</p><p><blockquote><b>平方(SQ)</b>-Square的季度收益为每股37美分，符合预期，而这家移动支付公司的收入未达到预期。Square的利润确实较上年同期增长了近60%，这在很大程度上要归功于比特币交易的激增，但该股在盘前交易中下跌了3.5%。</blockquote></p><p> <b>Canopy Growth(CGC)</b> – The Canadian cannabis producer lost 3 cents per share for its latest quarter, smaller than the 20-cent loss expected by analysts. However, revenue fell short of estimates and the company flagged slower-than-expected revenue growth for the second half of fiscal 2022. The stock fell 2.7% in the premarket.</p><p><blockquote><b>冠层生长(CGC)</b>-这家加拿大大麻生产商最近一个季度每股亏损3美分，小于分析师预期的20美分亏损。然而，收入低于预期，该公司表示2022财年下半年的收入增长低于预期。该股盘前下跌2.7%。</blockquote></p><p> <b>Shake Shack(SHAK)</b> – Shake Shack reported a quarterly loss of 5 cents per share, 1 cent less than Wall Street had anticipated, but the restaurant chain’s sales missed analyst forecasts. Despite the revenue miss, Shake Shack rallied 7.6% in the premarket.</p><p><blockquote><b>Shake Shack(SHAK)</b>-Shake Shack公布季度每股亏损5美分，比华尔街预期少1美分，但该连锁餐厅的销售额未达到分析师预期。尽管营收未达预期，Shake Shack盘前仍上涨7.6%。</blockquote></p><p> <b>Canada Goose(GOOS)</b> – The outerwear maker reported an unexpected profit for its latest quarter along with better-than-expected revenue, and also raised its full-year forecast. Canada Goose also said it’s seeing an indication of a strong winter season, and shares jumped 7.4% in the premarket.</p><p><blockquote><b>加拿大鹅(GOOS)</b>-这家外套制造商公布了最近一个季度的意外利润以及好于预期的收入，并上调了全年预期。Canada Goose还表示，它看到了冬季强劲的迹象，股价在盘前上涨了7.4%。</blockquote></p><p></p><p> <b>Live Nation Entertainment(LYV) </b>– Live Nation shares rallied 5.4% in premarket action after the event promoter returned to profit amid a sales surge as live events returned. Results exceeded analyst estimates.</p><p><blockquote><b>现场国家娱乐(LYV)</b>-Live Nation股价在盘前上涨5.4%，此前随着现场活动回归，销售额激增，活动主办方恢复盈利。结果超出了分析师的预期。</blockquote></p><p> <b>Lions Gate Entertainment(LGF)</b> – The movie and tv studio is considering a sale or spin-off of its Starz premium cable channel, saying it sees the potential to unlock significant shareholder value. The stock surged 15.1% in the premarket.</p><p><blockquote><b>狮门娱乐(LGF)</b>-该电影和电视工作室正在考虑出售或分拆其Starz付费有线频道，称其看到了释放巨大股东价值的潜力。该股盘前飙升15.1%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DKNG":"DraftKings Inc.","CGC":"Canopy Growth Corporation","PTON":"Peloton Interactive, Inc.",".IXIC":"NASDAQ Composite","SHAK":"Shake Shack Inc","GOOS":"加拿大鹅","EXPE":"Expedia",".SPX":"S&P 500 Index","LYV":"Live Nation Entertainment","NVDA":"英伟达","PINS":"Pinterest, Inc.","PFE":"辉瑞","UBER":"优步",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156660858","content_text":"Futures tracking the S&P 500 and Nasdaq indexes hit a record high on Friday, boosted by a batch of strong earnings reports and Pfizer, while investors looked to monthly employment data for clues on the pace of economic growth.\nAt 08:00 a.m. ET, Dow e-minis were up 54 points, or 0.15%, S&P 500 e-minis were up 10.75 points, or 0.23%, and Nasdaq 100 e-minis were up 23.75 points, or 0.15%.\n\nTravel stocks rose following the news, with American Airline , United Airlines, Delta Air Lines, cruise operators Carnival Corp and Norwegian Cruise rising between 2% and 4%.\nThe U.S. economy added more jobs than expected in October while the unemployment rate fell to 4.6%, the Labor Department reported Friday.Nonfarm payrolls increased by 531,000 for the month, compared to the Dow Jones estimate of 450,000. The unemployment rate had been expected to edge down to 4.7%.\nMeanwhile, the U.S. House of Representatives is expected to vote on Friday on the social policy and climate-change bill and a bipartisan infrastructure bill.\nStocks making the biggest moves premarket:\nPfizer(PFE) – The drug maker's shares surged 10.4% in premarket trading after a study showed that its experimental Covid-19 antiviral pill reduced the risk of hospitalization and death by nearly 90%. Pfizer said it will ask regulators to approve the pill as soon as possible.\nDraftKings(DKNG) – The sports betting company’s stock slid 10% in the premarket after it reported a wider-than-expected loss and revenue that fell short of Street forecasts. DraftKings did raise the midpoint of its fiscal 2021 revenue guidance and said it expected a strong 2022.\nNvidia(NVDA) – Nvidia shares rose 3% in premarket trading Friday after a 12% rise yesterday.Well Fargo Securities analyst Aaron Rakers reiterated an Overweight rating on Nvidia and bumped up the price target from $245 to $320.\nPeloton(PTON) – Peloton tumbled 33% in the premarket after the fitness equipment maker slashed its full-year sales forecast by $1 billion, amid slowing demand for bikes and treadmills. Peloton also reported a quarterly loss of $1.21 per share, wider than the $1.07 loss expected by analysts, and revenue fell short of estimates as well.\nExpedia(EXPE) – Expedia earned an adjusted $3.53 per share for its latest quarter, well above the $1.65 consensus estimate. Revenue was also higher than expected, with the travel services company benefiting from the surge in travel demand. Expedia soared 13.7% in premarket trading.\nAirbnb(ABNB) – Airbnb rallied 5.9% in the premarket as the travel-demand surge lifted sales and earnings beyond Wall Street forecasts. Airbnb earned $1.22 per share for its latest quarter, beating the $0.75 consensus estimate, with sales coming in at a record high. The company also said it expects a strong holiday season.\nUber Technologies(UBER) – Uber reported its first profitable quarter on an adjusted basis, thanks to upbeat performances by its ride-sharing and food delivery services. It did post an overall loss due to the drop in value of its stake in China ride-hailing company Didi(DIDI). Uber rose 2.5% in premarket trading.\nPinterest(PINS) – Pinterest came in 5 cents above estimates with an adjusted quarterly profit of 28 cents per share, and the image-sharing site operator’s revenue also topped analyst forecasts. It is also predicting an upbeat current quarter as the online retailer spends more on holiday season ads. Pinterest jumped 3.8% in premarket action.\nSquare(SQ) -Square matched estimates with quarterly earnings of 37 cents per share, while the mobile payments company’s revenue missed forecasts. Square did see a nearly 60% rise in profit from a year earlier, thanks in large part to a surge in bitcoin transactions, but the stock dropped 3.5% in premarket trading.\nCanopy Growth(CGC) – The Canadian cannabis producer lost 3 cents per share for its latest quarter, smaller than the 20-cent loss expected by analysts. However, revenue fell short of estimates and the company flagged slower-than-expected revenue growth for the second half of fiscal 2022. The stock fell 2.7% in the premarket.\nShake Shack(SHAK) – Shake Shack reported a quarterly loss of 5 cents per share, 1 cent less than Wall Street had anticipated, but the restaurant chain’s sales missed analyst forecasts. Despite the revenue miss, Shake Shack rallied 7.6% in the premarket.\nCanada Goose(GOOS) – The outerwear maker reported an unexpected profit for its latest quarter along with better-than-expected revenue, and also raised its full-year forecast. Canada Goose also said it’s seeing an indication of a strong winter season, and shares jumped 7.4% in the premarket.\nLive Nation Entertainment(LYV) – Live Nation shares rallied 5.4% in premarket action after the event promoter returned to profit amid a sales surge as live events returned. Results exceeded analyst estimates.\nLions Gate Entertainment(LGF) – The movie and tv studio is considering a sale or spin-off of its Starz premium cable channel, saying it sees the potential to unlock significant shareholder value. The stock surged 15.1% in the premarket.","news_type":1,"symbols_score_info":{"ESmain":0.9,"PTON":0.9,"CGC":0.9,"PINS":0.9,"LGF":0.9,".SPX":0.9,"NQmain":0.9,"LYV":0.9,"UBER":0.9,".IXIC":0.9,"SHAK":0.9,"SQ":0.9,"GOOS":0.9,".DJI":0.9,"NVDA":0.9,"DKNG":0.9,"EXPE":0.9,"PFE":0.9,"YMmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841525279,"gmtCreate":1635927460686,"gmtModify":1635927460786,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581497141923960","idStr":"3581497141923960"},"themes":[],"htmlText":"AGC","listText":"AGC","text":"AGC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841525279","repostId":"1192541582","repostType":2,"repost":{"id":"1192541582","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":1635927157,"share":"https://www.laohu8.com/m/news/1192541582?lang=zh_CN&edition=full","pubTime":"2021-11-03 16:12","market":"us","language":"en","title":"Lyft and Uber shares jumped in premarket trading<blockquote>Lyft和优步股价在盘前交易中上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1192541582","media":"Tiger Newspress","summary":"Lyft and Uber shares jumped in premarket trading after Lyft reporting outstanding quarterly results.","content":"<p>Lyft and Uber shares jumped in premarket trading&nbsp;after Lyft&nbsp;reporting outstanding&nbsp;quarterly results.Uber will report its third quarter earnings after hours on Thursday.</p><p><blockquote>在Lyft公布出色的季度业绩后，Lyft和优步股价在盘前交易中上涨。优步将于周四盘后公布第三季度收益。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/18239d63df7b8724d1682f681cc076b5\" tg-width=\"847\" tg-height=\"620\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90c8e42007ba900ba5b91730862e715\" tg-width=\"849\" tg-height=\"616\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Lyft Inc. reported third-quarter revenue 73% higher than last year, boosted by demand for ride-hailing services amid improving Covid-19 conditions.</p><p><blockquote>Lyft公司公布第三季度收入比去年增长73%，这得益于Covid-19状况改善对叫车服务的需求。</blockquote></p><p> The company reported adjusted earnings before tax, depreciation and other expenses of $67.3 million, beating Wall Street estimates of $33 million, and marking Lyft’s second quarterly adjusted profit.</p><p><blockquote>该公司公布的调整后税前、折旧和其他费用前利润为6730万美元，超过华尔街预期的3300万美元，标志着Lyft第二季度调整后利润。</blockquote></p><p> Revenue hit $864 million in the three months ended September 30, the San Francisco-based company said in a statement Tuesday. That beat the $862 million analysts had projected, according to data compiled by Bloomberg.</p><p><blockquote>这家总部位于旧金山的公司周二在一份声明中表示，截至9月30日的三个月收入达到8.64亿美元。根据彭博社汇编的数据，这超出了分析师预期的8.62亿美元。</blockquote></p><p> Lyft reported 18.9 million active riders, a 51% increase from the same period last year, but short of the 19.3 million analysts predicted. The company’s revenue per active rider reached a record $45.63 -- an increase driven by customers taking rides more frequently.</p><p><blockquote>Lyft报告称，活跃乘客为1890万人，比去年同期增长51%，但低于分析师预测的1930万人。该公司每位活跃乘客的收入达到了创纪录的45.63美元，这一增长是由客户更频繁地乘车推动的。</blockquote></p><p> Lyft co-founder and President John Zimmer said airport rides, which were up threefold compared to a year earlier, coupled with a rise in weekend and evening trips, was a positive sign that customers are reverting back to pre-pandemic habits. “We feel great about rider demand,” Zimmer told Bloomberg. “And since the release of booster shots, and children’s vaccinations becoming available, I feel good about the road ahead.”</p><p><blockquote>Lyft联合创始人兼总裁John Zimmer表示，与一年前相比，机场乘车次数增加了三倍，加上周末和晚上出行的增加，这是一个积极的迹象，表明客户正在恢复到大流行前的习惯。“我们对骑手需求感觉很好，”齐默告诉彭博社。“自从加强注射和儿童疫苗接种开始，我对未来的道路感觉良好。”</blockquote></p><p> While the delta variant kept more people indoors and out of Lyfts over the summer, Covid-19 vaccination rates have continued to rise in the U.S., with President Joe Biden’s directive spurring more private employers to mandate shots or testing. Falling numbers of cases in the U.S. have boosted Lyft, which only operates in North America.</p><p><blockquote>虽然德尔塔变异毒株在夏季让更多的人呆在室内，远离Lyfts，但美国的新冠肺炎疫苗接种率持续上升，总统乔·拜登（Joe Biden）的指令刺激更多私人雇主强制注射或测试。美国病例数量的下降提振了仅在北美开展业务的Lyft。</blockquote></p><p> But even as riders return, Lyft and its larger rival, Uber Technologies Inc., have struggled to find enough drivers. Lyft has poured millions of dollars into incentives and bonuses to entice drivers who are hesitant to return, sometimes because they have unemployment benefits or health concerns.</p><p><blockquote>但即使乘客回归，Lyft及其更大的竞争对手优步科技公司仍难以找到足够的司机。Lyft投入了数百万美元的激励措施和奖金，以吸引那些犹豫是否返回的司机，有时是因为他们有失业救济金或健康问题。</blockquote></p><p> Driver supply increased 45% in the third quarter versus the same period last year. “We’ve seen [driver supply] levels improve materially and see a path for less dynamic pricing as we get the marketplace balance stabilized,” Zimmer said.</p><p><blockquote>第三季度司机供应量较去年同期增长45%。齐默说：“我们已经看到[司机供应]水平显着改善，并且随着市场平衡的稳定，我们看到了一条不那么动态定价的道路。”</blockquote></p><p> Lyft has worked to become profitable, slashing costs with a wave of layoffs and budget cuts at the height of the pandemic, and agreeing to offload its self-driving division to a subsidiary of Toyota Motor Corp. in April, cutting costly autonomous car research expenses.</p><p><blockquote>Lyft一直在努力实现盈利，在疫情最严重的时候通过一波裁员和预算削减来削减成本，并于4月份同意将其自动驾驶部门出售给丰田汽车公司的子公司，从而削减昂贵的自动驾驶汽车研究费用。</blockquote></p><p> Lyft reported its net loss narrowed to $71.5 million, or a loss of 21 cents a share, from a loss of $459.5 million, or $1.46 a share, a year earlier.</p><p><blockquote>Lyft报告称，其净亏损从去年同期的亏损4.595亿美元（即每股亏损1.46美元）收窄至7150万美元，即每股亏损21美分。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLyft and Uber shares jumped in premarket trading<blockquote>Lyft和优步股价在盘前交易中上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-03 16:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Lyft and Uber shares jumped in premarket trading&nbsp;after Lyft&nbsp;reporting outstanding&nbsp;quarterly results.Uber will report its third quarter earnings after hours on Thursday.</p><p><blockquote>在Lyft公布出色的季度业绩后，Lyft和优步股价在盘前交易中上涨。优步将于周四盘后公布第三季度收益。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/18239d63df7b8724d1682f681cc076b5\" tg-width=\"847\" tg-height=\"620\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90c8e42007ba900ba5b91730862e715\" tg-width=\"849\" tg-height=\"616\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Lyft Inc. reported third-quarter revenue 73% higher than last year, boosted by demand for ride-hailing services amid improving Covid-19 conditions.</p><p><blockquote>Lyft公司公布第三季度收入比去年增长73%，这得益于Covid-19状况改善对叫车服务的需求。</blockquote></p><p> The company reported adjusted earnings before tax, depreciation and other expenses of $67.3 million, beating Wall Street estimates of $33 million, and marking Lyft’s second quarterly adjusted profit.</p><p><blockquote>该公司公布的调整后税前、折旧和其他费用前利润为6730万美元，超过华尔街预期的3300万美元，标志着Lyft第二季度调整后利润。</blockquote></p><p> Revenue hit $864 million in the three months ended September 30, the San Francisco-based company said in a statement Tuesday. That beat the $862 million analysts had projected, according to data compiled by Bloomberg.</p><p><blockquote>这家总部位于旧金山的公司周二在一份声明中表示，截至9月30日的三个月收入达到8.64亿美元。根据彭博社汇编的数据，这超出了分析师预期的8.62亿美元。</blockquote></p><p> Lyft reported 18.9 million active riders, a 51% increase from the same period last year, but short of the 19.3 million analysts predicted. The company’s revenue per active rider reached a record $45.63 -- an increase driven by customers taking rides more frequently.</p><p><blockquote>Lyft报告称，活跃乘客为1890万人，比去年同期增长51%，但低于分析师预测的1930万人。该公司每位活跃乘客的收入达到了创纪录的45.63美元，这一增长是由客户更频繁地乘车推动的。</blockquote></p><p> Lyft co-founder and President John Zimmer said airport rides, which were up threefold compared to a year earlier, coupled with a rise in weekend and evening trips, was a positive sign that customers are reverting back to pre-pandemic habits. “We feel great about rider demand,” Zimmer told Bloomberg. “And since the release of booster shots, and children’s vaccinations becoming available, I feel good about the road ahead.”</p><p><blockquote>Lyft联合创始人兼总裁John Zimmer表示，与一年前相比，机场乘车次数增加了三倍，加上周末和晚上出行的增加，这是一个积极的迹象，表明客户正在恢复到大流行前的习惯。“我们对骑手需求感觉很好，”齐默告诉彭博社。“自从加强注射和儿童疫苗接种开始，我对未来的道路感觉良好。”</blockquote></p><p> While the delta variant kept more people indoors and out of Lyfts over the summer, Covid-19 vaccination rates have continued to rise in the U.S., with President Joe Biden’s directive spurring more private employers to mandate shots or testing. Falling numbers of cases in the U.S. have boosted Lyft, which only operates in North America.</p><p><blockquote>虽然德尔塔变异毒株在夏季让更多的人呆在室内，远离Lyfts，但美国的新冠肺炎疫苗接种率持续上升，总统乔·拜登（Joe Biden）的指令刺激更多私人雇主强制注射或测试。美国病例数量的下降提振了仅在北美开展业务的Lyft。</blockquote></p><p> But even as riders return, Lyft and its larger rival, Uber Technologies Inc., have struggled to find enough drivers. Lyft has poured millions of dollars into incentives and bonuses to entice drivers who are hesitant to return, sometimes because they have unemployment benefits or health concerns.</p><p><blockquote>但即使乘客回归，Lyft及其更大的竞争对手优步科技公司仍难以找到足够的司机。Lyft投入了数百万美元的激励措施和奖金，以吸引那些犹豫是否返回的司机，有时是因为他们有失业救济金或健康问题。</blockquote></p><p> Driver supply increased 45% in the third quarter versus the same period last year. “We’ve seen [driver supply] levels improve materially and see a path for less dynamic pricing as we get the marketplace balance stabilized,” Zimmer said.</p><p><blockquote>第三季度司机供应量较去年同期增长45%。齐默说：“我们已经看到[司机供应]水平显着改善，并且随着市场平衡的稳定，我们看到了一条不那么动态定价的道路。”</blockquote></p><p> Lyft has worked to become profitable, slashing costs with a wave of layoffs and budget cuts at the height of the pandemic, and agreeing to offload its self-driving division to a subsidiary of Toyota Motor Corp. in April, cutting costly autonomous car research expenses.</p><p><blockquote>Lyft一直在努力实现盈利，在疫情最严重的时候通过一波裁员和预算削减来削减成本，并于4月份同意将其自动驾驶部门出售给丰田汽车公司的子公司，从而削减昂贵的自动驾驶汽车研究费用。</blockquote></p><p> Lyft reported its net loss narrowed to $71.5 million, or a loss of 21 cents a share, from a loss of $459.5 million, or $1.46 a share, a year earlier.</p><p><blockquote>Lyft报告称，其净亏损从去年同期的亏损4.595亿美元（即每股亏损1.46美元）收窄至7150万美元，即每股亏损21美分。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBER":"优步"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192541582","content_text":"Lyft and Uber shares jumped in premarket trading after Lyft reporting outstanding quarterly results.Uber will report its third quarter earnings after hours on Thursday.\n\nLyft Inc. reported third-quarter revenue 73% higher than last year, boosted by demand for ride-hailing services amid improving Covid-19 conditions.\nThe company reported adjusted earnings before tax, depreciation and other expenses of $67.3 million, beating Wall Street estimates of $33 million, and marking Lyft’s second quarterly adjusted profit.\nRevenue hit $864 million in the three months ended September 30, the San Francisco-based company said in a statement Tuesday. That beat the $862 million analysts had projected, according to data compiled by Bloomberg.\nLyft reported 18.9 million active riders, a 51% increase from the same period last year, but short of the 19.3 million analysts predicted. The company’s revenue per active rider reached a record $45.63 -- an increase driven by customers taking rides more frequently.\nLyft co-founder and President John Zimmer said airport rides, which were up threefold compared to a year earlier, coupled with a rise in weekend and evening trips, was a positive sign that customers are reverting back to pre-pandemic habits. “We feel great about rider demand,” Zimmer told Bloomberg. “And since the release of booster shots, and children’s vaccinations becoming available, I feel good about the road ahead.”\nWhile the delta variant kept more people indoors and out of Lyfts over the summer, Covid-19 vaccination rates have continued to rise in the U.S., with President Joe Biden’s directive spurring more private employers to mandate shots or testing. Falling numbers of cases in the U.S. have boosted Lyft, which only operates in North America.\nBut even as riders return, Lyft and its larger rival, Uber Technologies Inc., have struggled to find enough drivers. Lyft has poured millions of dollars into incentives and bonuses to entice drivers who are hesitant to return, sometimes because they have unemployment benefits or health concerns.\nDriver supply increased 45% in the third quarter versus the same period last year. “We’ve seen [driver supply] levels improve materially and see a path for less dynamic pricing as we get the marketplace balance stabilized,” Zimmer said.\nLyft has worked to become profitable, slashing costs with a wave of layoffs and budget cuts at the height of the pandemic, and agreeing to offload its self-driving division to a subsidiary of Toyota Motor Corp. in April, cutting costly autonomous car research expenses.\nLyft reported its net loss narrowed to $71.5 million, or a loss of 21 cents a share, from a loss of $459.5 million, or $1.46 a share, a year 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buy","listText":"Buy buy","text":"Buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/102268503","repostId":"102219443","repostType":1,"repost":{"id":102219443,"gmtCreate":1620217017182,"gmtModify":1634206932362,"author":{"id":"3571928008671861","authorId":"3571928008671861","name":"kamhoong","avatar":"https://static.tigerbbs.com/066b2fb6a852052d868fae39da6aecd3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571928008671861","idStr":"3571928008671861"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a> barely green","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a> barely green","text":"$Palantir Technologies Inc.(PLTR)$ barely 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16:27","market":"us","language":"en","title":"Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146536243","media":"zerohedge","summary":"This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","content":"<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为这个经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到市场的激烈争论。每一项都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情造成了有记录以来最大幅度的产出下降。随后，在政策支持的帮助下，经济活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种暴力的下跌和上涨从未允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场中的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得光滑和抛光。2003-07年的周期以大萧条以来最大的银行和房地产危机结束。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言喻的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么我们使用术语“周期”。经济和市场往往遵循周期性模式，这些模式往往会在市场表现中显现出来。我们关心的是那些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等周期后期条件？是的。由此产生的股票、信贷、收益率和收益率曲线的低谷是否符合市场和经济低点之间的通常节奏？他们做到了。随后反弹的领头羊是否是通常的早期周期赢家，如小型股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者这些事情实际上是正常的。如果到目前为止已经发生了很多“正常”的循环行为，那么它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏的推进，这些模式应该会发生变化。正如我的同事迈克尔·威尔逊所指出的，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅16个月。我们看到当前状况与2004年上半年有许多相似之处，2004年上半年是大幅通货再膨胀反弹之后的周期中期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（见增长恐慌周年纪念，2021年7月11日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为人们总能找到适合他们特定周期观点的指标，所以我们长期以来一直是综合指数的粉丝。这就是我们的“周期模型”，它结合了美国宏观、信贷周期和企业侵略性的十个指标，以衡量我们在市场周期中的位置。在2019年6月进入周期后期“低迷”和2020年4月进入周期早期“修复”后，该指数飙升。<b>它上升得如此之快，以至于已经过了下一个阶段（“复苏”），直接进入了“扩张”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>这很不寻常。“扩张”意味着捕捉“比正常情况更好且正在改善”的条件，<b>自1980年以来，“低迷”结束后平均需要35个月才能实现这一目标</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这是我们的论点，它体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，信贷相对于其他风险资产越差；信贷从“繁荣”中获得的收益较少，如果下一次衰退提前到来，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多的供应</b>在我们周期模型的“扩张”阶段，美国IG和HY Credit N1200万超额回报分别比平均水平差29个基点和161个基点。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现却参差不齐</b>投资者应该尝试承担违约风险而不是利差风险：我们的信用策略师喜欢持有CDX HY 0-15%，并用CDX IG付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合更加平衡</b>我们看好美国和欧洲的医疗保健行业，因为该行业具有几个良好的因素：质量、低估值、高利差和低波动性。从全球来看，欧洲和日本的股市往往跑赢“中期周期”，我们认为它们可以再次这样做。</li><li><b>利率对复苏过于悲观。在我们周期模型的“扩张”阶段，美国10年期国债1200万奈拉回报率比平均水平低97个基点</b>.Guneet Dhingra和我们的美国利率策略团队在全球资产配置中转移了跑输大盘美国10年期国债，而我们反过来又转移了跑输大盘政府债券。</li></ul>这种循环是不寻常的。大多数“正常”周期都是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-19 16:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为这个经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到市场的激烈争论。每一项都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情造成了有记录以来最大幅度的产出下降。随后，在政策支持的帮助下，经济活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种暴力的下跌和上涨从未允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场中的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得光滑和抛光。2003-07年的周期以大萧条以来最大的银行和房地产危机结束。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言喻的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么我们使用术语“周期”。经济和市场往往遵循周期性模式，这些模式往往会在市场表现中显现出来。我们关心的是那些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等周期后期条件？是的。由此产生的股票、信贷、收益率和收益率曲线的低谷是否符合市场和经济低点之间的通常节奏？他们做到了。随后反弹的领头羊是否是通常的早期周期赢家，如小型股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者这些事情实际上是正常的。如果到目前为止已经发生了很多“正常”的循环行为，那么它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏的推进，这些模式应该会发生变化。正如我的同事迈克尔·威尔逊所指出的，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅16个月。我们看到当前状况与2004年上半年有许多相似之处，2004年上半年是大幅通货再膨胀反弹之后的周期中期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（见增长恐慌周年纪念，2021年7月11日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为人们总能找到适合他们特定周期观点的指标，所以我们长期以来一直是综合指数的粉丝。这就是我们的“周期模型”，它结合了美国宏观、信贷周期和企业侵略性的十个指标，以衡量我们在市场周期中的位置。在2019年6月进入周期后期“低迷”和2020年4月进入周期早期“修复”后，该指数飙升。<b>它上升得如此之快，以至于已经过了下一个阶段（“复苏”），直接进入了“扩张”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>这很不寻常。“扩张”意味着捕捉“比正常情况更好且正在改善”的条件，<b>自1980年以来，“低迷”结束后平均需要35个月才能实现这一目标</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这是我们的论点，它体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，信贷相对于其他风险资产越差；信贷从“繁荣”中获得的收益较少，如果下一次衰退提前到来，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多的供应</b>在我们周期模型的“扩张”阶段，美国IG和HY Credit N1200万超额回报分别比平均水平差29个基点和161个基点。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现却参差不齐</b>投资者应该尝试承担违约风险而不是利差风险：我们的信用策略师喜欢持有CDX HY 0-15%，并用CDX IG付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合更加平衡</b>我们看好美国和欧洲的医疗保健行业，因为该行业具有几个良好的因素：质量、低估值、高利差和低波动性。从全球来看，欧洲和日本的股市往往跑赢“中期周期”，我们认为它们可以再次这样做。</li><li><b>利率对复苏过于悲观。在我们周期模型的“扩张”阶段，美国10年期国债1200万奈拉回报率比平均水平低97个基点</b>.Guneet Dhingra和我们的美国利率策略团队在全球资产配置中转移了跑输大盘美国10年期国债，而我们反过来又转移了跑输大盘政府债券。</li></ul>这种循环是不寻常的。大多数“正常”周期都是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146536243","content_text":"We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.\nThe debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.\nBut 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.\nInstead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.\nWas last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.\nIf it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are. If a lot of 'normal' cycle behavior has played out so far, it should continue to do so.\nSpecifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see The Growth Scare Anniversary, July 11, 2021).\nBecause one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.\nThisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',and since 1980, it has taken an average of 35 months to get there after 'downturn' ends. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.It also hints at another possibility: this hotter cycle could be shorter.This is our thesis, and it’s showing up in our quantitative measure.\nAll this has a number of implications:\n\nThe shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.\nIn many of those periods, more mixed credit performance occurs despite default rates remaining low. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.\nIn equities, we think that our model supports more balance in portfolios. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.\nInterest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.\n\nThis cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":879,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122376660,"gmtCreate":1624600782550,"gmtModify":1631888248219,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581497141923960","idStr":"3581497141923960"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/122376660","repostId":"1141321696","repostType":4,"isVote":1,"tweetType":1,"viewCount":739,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137591296,"gmtCreate":1622358287315,"gmtModify":1631889377144,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581497141923960","idStr":"3581497141923960"},"themes":[],"htmlText":"Buy&nbsp;","listText":"Buy&nbsp;","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/137591296","repostId":"2138488761","repostType":4,"isVote":1,"tweetType":1,"viewCount":712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151088459,"gmtCreate":1625057857271,"gmtModify":1631888248169,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581497141923960","idStr":"3581497141923960"},"themes":[],"htmlText":"Hold","listText":"Hold","text":"Hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/151088459","repostId":"153725429","repostType":1,"repost":{"id":153725429,"gmtCreate":1625052710861,"gmtModify":1744851688832,"author":{"id":"3498862311246415","authorId":"3498862311246415","name":"财经故事荟","avatar":"https://static.tigerbbs.com/fcb387baf2d7088a5dcd53c9b61b07d6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3498862311246415","idStr":"3498862311246415"},"themes":[],"title":"从破发“上市”，到止跌“上岸”，赴美中概股要过几道关？","htmlText":"采写／陈纪英上市的锣鼓敲得有多响，破发的股价就有多肉疼。上市即破发，已经成为了不少赴美赴港中港股的集体噩梦——最近陆续上市的奈雪的茶、满帮、每日优鲜等陆续跌破发行价，投资人一片哀嚎。但其实，日光之下并无新事，美股、港股上市即破发的现象只不过是“Yesterdayonce moere”。今年3月，当B站在香港二次上市再度破发时，B站创始人陈睿安抚投资人说，“今天有一种YesterdayOnce More的感觉，我们在美股上市的时候也破发了。但我那时候说过一句话，未来十年没人会记得B站股价破发这件事。”陈睿当然有这个底气——美股破发之后，仅仅花了两三年，B站就走上新巅峰，股价翻了十倍以上。破发——别说创业公司应接不暇，连巨头也束手无策。在上市发行价的破发“黑名单”上，Facebook上市前三天大跌18%，Uber和小米上市当天即破发，美团上市后三个月跌去了40%，小米上市不久即被腰斩，拼多多阿里上市一年内就跌破发行价，亚马逊IPO之后的13个交易日里有5天都跌破了发行价，等等。前纳斯达克证券交易所中国区首席代表兼亚洲区董事总经理徐光勋游走美股市场多年，对于美股上市即破发的现象，早已见怪不怪了，“首日或者短期内破发还是大涨，根本无需过度解读”。他告诉《财经故事荟》，“部分中国投资人无法接受首日破发，是因为A股上市之后都会连续大涨，但有涨有跌才是正常的健康的，普遍大涨反而说明供求关系不平衡，市场不够理智，投资人缺乏分辩能力”。不过，尽管如此，面对上市即破发的股价，公司也并非无可作为——从破发“上市”到回升“上岸”，到底需要跨过哪些关卡？A股上市即大涨，美股为何常破发?与美股港股打新吃肉割肉全凭运气不同，在A股，打新成功就是妥妥吃肉。“我只能这么说吧，放眼全世界主要的资本市场，包赔不赚的只有我大A股”，一位券商高管告诉《财经故事荟》，“所以做A股的上市辅导，是不用担心破发的，核心工作","listText":"采写／陈纪英上市的锣鼓敲得有多响，破发的股价就有多肉疼。上市即破发，已经成为了不少赴美赴港中港股的集体噩梦——最近陆续上市的奈雪的茶、满帮、每日优鲜等陆续跌破发行价，投资人一片哀嚎。但其实，日光之下并无新事，美股、港股上市即破发的现象只不过是“Yesterdayonce moere”。今年3月，当B站在香港二次上市再度破发时，B站创始人陈睿安抚投资人说，“今天有一种YesterdayOnce More的感觉，我们在美股上市的时候也破发了。但我那时候说过一句话，未来十年没人会记得B站股价破发这件事。”陈睿当然有这个底气——美股破发之后，仅仅花了两三年，B站就走上新巅峰，股价翻了十倍以上。破发——别说创业公司应接不暇，连巨头也束手无策。在上市发行价的破发“黑名单”上，Facebook上市前三天大跌18%，Uber和小米上市当天即破发，美团上市后三个月跌去了40%，小米上市不久即被腰斩，拼多多阿里上市一年内就跌破发行价，亚马逊IPO之后的13个交易日里有5天都跌破了发行价，等等。前纳斯达克证券交易所中国区首席代表兼亚洲区董事总经理徐光勋游走美股市场多年，对于美股上市即破发的现象，早已见怪不怪了，“首日或者短期内破发还是大涨，根本无需过度解读”。他告诉《财经故事荟》，“部分中国投资人无法接受首日破发，是因为A股上市之后都会连续大涨，但有涨有跌才是正常的健康的，普遍大涨反而说明供求关系不平衡，市场不够理智，投资人缺乏分辩能力”。不过，尽管如此，面对上市即破发的股价，公司也并非无可作为——从破发“上市”到回升“上岸”，到底需要跨过哪些关卡？A股上市即大涨，美股为何常破发?与美股港股打新吃肉割肉全凭运气不同，在A股，打新成功就是妥妥吃肉。“我只能这么说吧，放眼全世界主要的资本市场，包赔不赚的只有我大A股”，一位券商高管告诉《财经故事荟》，“所以做A股的上市辅导，是不用担心破发的，核心工作","text":"采写／陈纪英上市的锣鼓敲得有多响，破发的股价就有多肉疼。上市即破发，已经成为了不少赴美赴港中港股的集体噩梦——最近陆续上市的奈雪的茶、满帮、每日优鲜等陆续跌破发行价，投资人一片哀嚎。但其实，日光之下并无新事，美股、港股上市即破发的现象只不过是“Yesterdayonce moere”。今年3月，当B站在香港二次上市再度破发时，B站创始人陈睿安抚投资人说，“今天有一种YesterdayOnce More的感觉，我们在美股上市的时候也破发了。但我那时候说过一句话，未来十年没人会记得B站股价破发这件事。”陈睿当然有这个底气——美股破发之后，仅仅花了两三年，B站就走上新巅峰，股价翻了十倍以上。破发——别说创业公司应接不暇，连巨头也束手无策。在上市发行价的破发“黑名单”上，Facebook上市前三天大跌18%，Uber和小米上市当天即破发，美团上市后三个月跌去了40%，小米上市不久即被腰斩，拼多多阿里上市一年内就跌破发行价，亚马逊IPO之后的13个交易日里有5天都跌破了发行价，等等。前纳斯达克证券交易所中国区首席代表兼亚洲区董事总经理徐光勋游走美股市场多年，对于美股上市即破发的现象，早已见怪不怪了，“首日或者短期内破发还是大涨，根本无需过度解读”。他告诉《财经故事荟》，“部分中国投资人无法接受首日破发，是因为A股上市之后都会连续大涨，但有涨有跌才是正常的健康的，普遍大涨反而说明供求关系不平衡，市场不够理智，投资人缺乏分辩能力”。不过，尽管如此，面对上市即破发的股价，公司也并非无可作为——从破发“上市”到回升“上岸”，到底需要跨过哪些关卡？A股上市即大涨，美股为何常破发?与美股港股打新吃肉割肉全凭运气不同，在A股，打新成功就是妥妥吃肉。“我只能这么说吧，放眼全世界主要的资本市场，包赔不赚的只有我大A股”，一位券商高管告诉《财经故事荟》，“所以做A股的上市辅导，是不用担心破发的，核心工作","images":[{"img":"https://static.tigerbbs.com/c6f184c6e9fd2f785bc6076672c24c58","width":"1080","height":"720"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153725429","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":1,"comments":[],"imageCount":6,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161616425,"gmtCreate":1623921950967,"gmtModify":1631888248326,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581497141923960","idStr":"3581497141923960"},"themes":[],"htmlText":"Oh no&nbsp;","listText":"Oh no&nbsp;","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161616425","repostId":"2143979397","repostType":4,"isVote":1,"tweetType":1,"viewCount":323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169742092,"gmtCreate":1623852093316,"gmtModify":1631889377026,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581497141923960","idStr":"3581497141923960"},"themes":[],"htmlText":"Hold&nbsp;","listText":"Hold&nbsp;","text":"Hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/169742092","repostId":"2143179480","repostType":4,"isVote":1,"tweetType":1,"viewCount":710,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113423897,"gmtCreate":1622635086019,"gmtModify":1631889377113,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581497141923960","idStr":"3581497141923960"},"themes":[],"htmlText":"Buy buy","listText":"Buy buy","text":"Buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/113423897","repostId":"1188552613","repostType":4,"repost":{"id":"1188552613","kind":"news","pubTimestamp":1622627641,"share":"https://www.laohu8.com/m/news/1188552613?lang=zh_CN&edition=full","pubTime":"2021-06-02 17:54","market":"us","language":"en","title":"AMC Stock Is Surging Again. How to Make Sense of the Move.<blockquote>AMC股价再次飙升。如何理解这一举动。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188552613","media":"Barrons","summary":"AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, th","content":"<p>AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, that social media-fueled investor frenzy that has launched the likes of&nbsp;GameStop&nbsp;and&nbsp;BlackBerry&nbsp;into speculative territory.</p><p><blockquote>AMC院线股价飙升很容易被视为迷因交易疯狂，社交媒体推动的投资者狂热将游戏驿站和黑莓等公司带入了投机领域。</blockquote></p><p> But it’s possible that traditional investors have missed a fundamental change in the movie theater business—and it wouldn’t be the first time.</p><p><blockquote>但传统投资者可能错过了电影院业务的根本性变化——而且这已经不是第一次了。</blockquote></p><p> Shares of AMC (ticker: AMC) surged 23% on Tuesday, closing at $32.04—just off an all-time high of $36.72 set in late May. That puts the movie-theater chain’s market capitalization at roughly $16 billion, more than 15 times what it was in 2018, a record-breaking year at the box office.&nbsp;Shares were up another 34%, to $42.92, in premarket trading Wednesday.</p><p><blockquote>AMC（股票代码：AMC）股价周二飙升23%，收于32.04美元，略低于5月底创下的36.72美元的历史高点。这使得这家连锁影院的市值约为160亿美元，是2018年票房破纪录的一年的15倍多。周三盘前交易中，该公司股价又上涨34%，至42.92美元。</blockquote></p><p> Even if investors missed an inflection point, though, the math doesn’t add up. The reason might be that market cap isn’t the right measure. Maybe it’s enterprise value, which is essentially market cap and debt. AMC’s enterprise value is about $26 billion, compared with $6.2 billion or so at the end of 2018.</p><p><blockquote>不过，即使投资者错过了拐点，数学也不成立。原因可能是市值不是正确的衡量标准。也许是企业价值，本质上是市值和债务。AMC的企业价值约为260亿美元，而2018年底为62亿美元左右。</blockquote></p><p> AMC added debt during the pandemic as theaters in the country’s biggest cities were dark for months. And the numbers make it easy to understand why: The U.S. box office in 2020 generated about $2.1 billion in ticket sales, down 81% from the 2018 record of $11.9 billion.</p><p><blockquote>AMC在疫情期间增加了债务，因为该国最大城市的影院连续几个月处于黑暗之中。这些数字很容易理解原因：2020年美国票房收入约为21亿美元，比2018年创纪录的119亿美元下降了81%。</blockquote></p><p> So, it seems investors have been vexed by movie theater economics. But it wouldn’t be the first time. The industry essentially went belly up at the turn of the millennium. Regal Cinemas, for instance, declared bankruptcy in 2001.</p><p><blockquote>因此，投资者似乎对电影院经济感到恼火。但这不是第一次了。这个行业在世纪之交基本上破产了。例如，富豪影院于2001年宣布破产。</blockquote></p><p> Back then, the industry had plenty of capacity because of a new theater design—stadium seating that gave a better view of the screen. That shift meant movie theater chains had to renovate or risk losing all their patrons to movie theaters that offered the better view. In the end, too many seats and not enough patrons meant the return on the stadium-seating investments never materialized.</p><p><blockquote>当时，该行业有足够的容量，因为一种新的剧院设计——体育场座位可以更好地观看屏幕。这种转变意味着连锁电影院必须翻新，否则就有可能失去所有顾客到视野更好的电影院。最终，太多的座位和不够的顾客意味着体育场座位投资的回报从未实现。</blockquote></p><p> The upshot was consolidation. With fewer operators, the number of screens stabilized. Between 2002 and 2007, Regal Cinemas became a cash-generating machine because the stock was mispriced. The stock returned 21% a year on average. The S&amp;P 500 and Dow Jones Industrial Average both returned less than 9% a year on average over the same period.</p><p><blockquote>结果是整合。随着操作员的减少，屏幕数量稳定下来。2002年至2007年间，Regal Cinemas因股票定价错误而成为现金产生机器。该股平均每年回报率为21%。同期，标普500和道琼斯工业平均指数的平均年回报率均低于9%。</blockquote></p><p> In those days, Regal Cinema’s enterprise value about $5 billion, or about 50% of total U.S. box office sales. That’s far short of AMC today. Something new has to be different for AMC to be worth it.</p><p><blockquote>当年，富豪影院的企业价值约为50亿美元，约占美国票房总收入的50%。这与今天的AMC相去甚远。新的东西必须与众不同，AMC才值得。</blockquote></p><p> Maybe the movie theater business is going to go through another period of consolidation, which can usher in another golden age of returns. AMC’s Tuesday gains, in fact, were catalyzed by new capital raised so the company could go on the offensive, acquiring defunct chains. Monopolies, after all, can be good for stock returns.</p><p><blockquote>也许电影院业务又要经历一段盘整期，可以迎来又一个回报的黄金时代。事实上，AMC周二的上涨是由筹集的新资金推动的，因此该公司可以继续进攻，收购已倒闭的连锁店。毕竟，垄断有利于股票回报。</blockquote></p><p> If AMC can increase market share and the U.S. box office sales can return to 2018 levels in a few years, total sales at might be $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 amounted to $5.5 billion.</p><p><blockquote>如果AMC能够增加市场份额，并且美国票房销售额能够在几年内恢复到2018年的水平，那么总销售额可能会达到90亿美元——60亿美元来自门票，30亿美元来自特许经营。2018年销售额达55亿美元。</blockquote></p><p> Then, with better gross profit margins derived from larger scale, AMC might be able to generate $600 million in free cash flow annually, which puts the stock at about a 4% free cash flow yield. The S&amp;P 500 trades for about a 3% free cash flow yield. The numbers can work—if they’re stretched.</p><p><blockquote>然后，随着规模的扩大带来更好的毛利率，AMC每年可能能够产生6亿美元的自由现金流，这使得该股的自由现金流收益率约为4%。标普500的自由现金流收益率约为3%。这些数字可以发挥作用——如果它们被拉伸的话。</blockquote></p><p> There are problems with this scenario, though. There are lots of ifs and mights—and AMC has never generated cash flow like that in the past. Arriving at $600 million in free cash flow is more about justifying current valuations than predicting what is likely.</p><p><blockquote>不过，这种情况存在问题。有很多如果和可能——AMC过去从未产生过这样的现金流。达到6亿美元的自由现金流更多的是为了证明当前估值的合理性，而不是预测可能发生的情况。</blockquote></p><p> Also, with mergers and acquisitions, AMC market shares might rise, but there are still competitors. Regal Cinemas is still out there, owned by Cineworld Holdings (CINE. London). So is Cinemark (CNK). There’s not a true monopoly.</p><p><blockquote>此外，通过并购，AMC的市场份额可能会上升，但仍然存在竞争对手。富豪影院仍然存在，归电影世界控股公司所有。伦敦）。喜满客（CNK）也是如此。没有真正的垄断。</blockquote></p><p> AMC and its peers have to deal with streaming, too. Windows for exclusive theater showings are shrinking. The pandemic has accelerated that. And if AMC gets too large and demanding for movie makers, the talent can always go to streaming faster, hurting box office sales.</p><p><blockquote>AMC及其同行也必须应对流媒体问题。独家影院放映的窗口正在缩小。疫情加速了这一点。如果AMC变得太大，对电影制作人的要求太高，人才总是可以更快地转向流媒体，从而损害票房销售。</blockquote></p><p> There is also the problem of the peer stocks. They aren’t trading like this is a brave new world for theaters. Cineworld stock is up 484% from its 52-week low, but shares are still off 72% from all-time highs. Cinemark shares are up 222% from their 52-week low. They are down 47% from their all-time high.</p><p><blockquote>还有同行股票的问题。他们并不认为这是剧院的一个勇敢的新世界。Cineworld股价较52周低点上涨484%，但仍较历史高点下跌72%。喜满客股价较52周低点上涨222%。它们比历史高点下跌了47%。</blockquote></p><p> AMC stock, again, is up almost 1,600% from its 52-week low and is down just 13% from its May all-time high.</p><p><blockquote>AMC股价再次较52周低点上涨近1,600%，较5月份历史高点仅下跌13%。</blockquote></p><p> Wall Street just doesn’t see the potential either. Nine analysts cover the stock. The average analyst price target is about $5. Before the pandemic, the average analyst price target was $15. But there were fewer shares back then. The old target enterprise value was roughly $7 billion. It’s tough to get from $7 billion to $26 billion predicting better margins.</p><p><blockquote>华尔街也没有看到潜力。九名分析师关注该股。分析师平均目标价约为5美元。在疫情爆发之前，分析师的平均目标价为15美元。但当时股票较少。旧的目标企业价值约为70亿美元。很难从70亿美元增加到260亿美元来预测更好的利润率。</blockquote></p><p></p><p> Analysts do have positive free cash flow modeled, though–$13 million in 2022 and $90 million in 2023. That’s a long way from $600 million.</p><p><blockquote>不过，分析师确实模拟了正自由现金流——2022年为1300万美元，2023年为9000万美元。这距离6亿美元还有很长的路要走。</blockquote></p><p> And that’s just another way of saying that AMC bulls are a long way from making the math work.</p><p><blockquote>这只是AMC多头距离实现数学计算还有很长的路要走的另一种说法。</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>AMC Stock Is Surging Again. How to Make Sense of the Move.<blockquote>AMC股价再次飙升。如何理解这一举动。</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\">\nAMC Stock Is Surging Again. How to Make Sense of the Move.<blockquote>AMC股价再次飙升。如何理解这一举动。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-02 17:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, that social media-fueled investor frenzy that has launched the likes of&nbsp;GameStop&nbsp;and&nbsp;BlackBerry&nbsp;into speculative territory.</p><p><blockquote>AMC院线股价飙升很容易被视为迷因交易疯狂，社交媒体推动的投资者狂热将游戏驿站和黑莓等公司带入了投机领域。</blockquote></p><p> But it’s possible that traditional investors have missed a fundamental change in the movie theater business—and it wouldn’t be the first time.</p><p><blockquote>但传统投资者可能错过了电影院业务的根本性变化——而且这已经不是第一次了。</blockquote></p><p> Shares of AMC (ticker: AMC) surged 23% on Tuesday, closing at $32.04—just off an all-time high of $36.72 set in late May. That puts the movie-theater chain’s market capitalization at roughly $16 billion, more than 15 times what it was in 2018, a record-breaking year at the box office.&nbsp;Shares were up another 34%, to $42.92, in premarket trading Wednesday.</p><p><blockquote>AMC（股票代码：AMC）股价周二飙升23%，收于32.04美元，略低于5月底创下的36.72美元的历史高点。这使得这家连锁影院的市值约为160亿美元，是2018年票房破纪录的一年的15倍多。周三盘前交易中，该公司股价又上涨34%，至42.92美元。</blockquote></p><p> Even if investors missed an inflection point, though, the math doesn’t add up. The reason might be that market cap isn’t the right measure. Maybe it’s enterprise value, which is essentially market cap and debt. AMC’s enterprise value is about $26 billion, compared with $6.2 billion or so at the end of 2018.</p><p><blockquote>不过，即使投资者错过了拐点，数学也不成立。原因可能是市值不是正确的衡量标准。也许是企业价值，本质上是市值和债务。AMC的企业价值约为260亿美元，而2018年底为62亿美元左右。</blockquote></p><p> AMC added debt during the pandemic as theaters in the country’s biggest cities were dark for months. And the numbers make it easy to understand why: The U.S. box office in 2020 generated about $2.1 billion in ticket sales, down 81% from the 2018 record of $11.9 billion.</p><p><blockquote>AMC在疫情期间增加了债务，因为该国最大城市的影院连续几个月处于黑暗之中。这些数字很容易理解原因：2020年美国票房收入约为21亿美元，比2018年创纪录的119亿美元下降了81%。</blockquote></p><p> So, it seems investors have been vexed by movie theater economics. But it wouldn’t be the first time. The industry essentially went belly up at the turn of the millennium. Regal Cinemas, for instance, declared bankruptcy in 2001.</p><p><blockquote>因此，投资者似乎对电影院经济感到恼火。但这不是第一次了。这个行业在世纪之交基本上破产了。例如，富豪影院于2001年宣布破产。</blockquote></p><p> Back then, the industry had plenty of capacity because of a new theater design—stadium seating that gave a better view of the screen. That shift meant movie theater chains had to renovate or risk losing all their patrons to movie theaters that offered the better view. In the end, too many seats and not enough patrons meant the return on the stadium-seating investments never materialized.</p><p><blockquote>当时，该行业有足够的容量，因为一种新的剧院设计——体育场座位可以更好地观看屏幕。这种转变意味着连锁电影院必须翻新，否则就有可能失去所有顾客到视野更好的电影院。最终，太多的座位和不够的顾客意味着体育场座位投资的回报从未实现。</blockquote></p><p> The upshot was consolidation. With fewer operators, the number of screens stabilized. Between 2002 and 2007, Regal Cinemas became a cash-generating machine because the stock was mispriced. The stock returned 21% a year on average. The S&amp;P 500 and Dow Jones Industrial Average both returned less than 9% a year on average over the same period.</p><p><blockquote>结果是整合。随着操作员的减少，屏幕数量稳定下来。2002年至2007年间，Regal Cinemas因股票定价错误而成为现金产生机器。该股平均每年回报率为21%。同期，标普500和道琼斯工业平均指数的平均年回报率均低于9%。</blockquote></p><p> In those days, Regal Cinema’s enterprise value about $5 billion, or about 50% of total U.S. box office sales. That’s far short of AMC today. Something new has to be different for AMC to be worth it.</p><p><blockquote>当年，富豪影院的企业价值约为50亿美元，约占美国票房总收入的50%。这与今天的AMC相去甚远。新的东西必须与众不同，AMC才值得。</blockquote></p><p> Maybe the movie theater business is going to go through another period of consolidation, which can usher in another golden age of returns. AMC’s Tuesday gains, in fact, were catalyzed by new capital raised so the company could go on the offensive, acquiring defunct chains. Monopolies, after all, can be good for stock returns.</p><p><blockquote>也许电影院业务又要经历一段盘整期，可以迎来又一个回报的黄金时代。事实上，AMC周二的上涨是由筹集的新资金推动的，因此该公司可以继续进攻，收购已倒闭的连锁店。毕竟，垄断有利于股票回报。</blockquote></p><p> If AMC can increase market share and the U.S. box office sales can return to 2018 levels in a few years, total sales at might be $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 amounted to $5.5 billion.</p><p><blockquote>如果AMC能够增加市场份额，并且美国票房销售额能够在几年内恢复到2018年的水平，那么总销售额可能会达到90亿美元——60亿美元来自门票，30亿美元来自特许经营。2018年销售额达55亿美元。</blockquote></p><p> Then, with better gross profit margins derived from larger scale, AMC might be able to generate $600 million in free cash flow annually, which puts the stock at about a 4% free cash flow yield. The S&amp;P 500 trades for about a 3% free cash flow yield. The numbers can work—if they’re stretched.</p><p><blockquote>然后，随着规模的扩大带来更好的毛利率，AMC每年可能能够产生6亿美元的自由现金流，这使得该股的自由现金流收益率约为4%。标普500的自由现金流收益率约为3%。这些数字可以发挥作用——如果它们被拉伸的话。</blockquote></p><p> There are problems with this scenario, though. There are lots of ifs and mights—and AMC has never generated cash flow like that in the past. Arriving at $600 million in free cash flow is more about justifying current valuations than predicting what is likely.</p><p><blockquote>不过，这种情况存在问题。有很多如果和可能——AMC过去从未产生过这样的现金流。达到6亿美元的自由现金流更多的是为了证明当前估值的合理性，而不是预测可能发生的情况。</blockquote></p><p> Also, with mergers and acquisitions, AMC market shares might rise, but there are still competitors. Regal Cinemas is still out there, owned by Cineworld Holdings (CINE. London). So is Cinemark (CNK). There’s not a true monopoly.</p><p><blockquote>此外，通过并购，AMC的市场份额可能会上升，但仍然存在竞争对手。富豪影院仍然存在，归电影世界控股公司所有。伦敦）。喜满客（CNK）也是如此。没有真正的垄断。</blockquote></p><p> AMC and its peers have to deal with streaming, too. Windows for exclusive theater showings are shrinking. The pandemic has accelerated that. And if AMC gets too large and demanding for movie makers, the talent can always go to streaming faster, hurting box office sales.</p><p><blockquote>AMC及其同行也必须应对流媒体问题。独家影院放映的窗口正在缩小。疫情加速了这一点。如果AMC变得太大，对电影制作人的要求太高，人才总是可以更快地转向流媒体，从而损害票房销售。</blockquote></p><p> There is also the problem of the peer stocks. They aren’t trading like this is a brave new world for theaters. Cineworld stock is up 484% from its 52-week low, but shares are still off 72% from all-time highs. Cinemark shares are up 222% from their 52-week low. They are down 47% from their all-time high.</p><p><blockquote>还有同行股票的问题。他们并不认为这是剧院的一个勇敢的新世界。Cineworld股价较52周低点上涨484%，但仍较历史高点下跌72%。喜满客股价较52周低点上涨222%。它们比历史高点下跌了47%。</blockquote></p><p> AMC stock, again, is up almost 1,600% from its 52-week low and is down just 13% from its May all-time high.</p><p><blockquote>AMC股价再次较52周低点上涨近1,600%，较5月份历史高点仅下跌13%。</blockquote></p><p> Wall Street just doesn’t see the potential either. Nine analysts cover the stock. The average analyst price target is about $5. Before the pandemic, the average analyst price target was $15. But there were fewer shares back then. The old target enterprise value was roughly $7 billion. It’s tough to get from $7 billion to $26 billion predicting better margins.</p><p><blockquote>华尔街也没有看到潜力。九名分析师关注该股。分析师平均目标价约为5美元。在疫情爆发之前，分析师的平均目标价为15美元。但当时股票较少。旧的目标企业价值约为70亿美元。很难从70亿美元增加到260亿美元来预测更好的利润率。</blockquote></p><p></p><p> Analysts do have positive free cash flow modeled, though–$13 million in 2022 and $90 million in 2023. That’s a long way from $600 million.</p><p><blockquote>不过，分析师确实模拟了正自由现金流——2022年为1300万美元，2023年为9000万美元。这距离6亿美元还有很长的路要走。</blockquote></p><p> And that’s just another way of saying that AMC bulls are a long way from making the math work.</p><p><blockquote>这只是AMC多头距离实现数学计算还有很长的路要走的另一种说法。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/amc-rockets-higher-is-it-worth-it-maybe-51622594691?mod=hp_LEAD_1\">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":{"AMC":"AMC院线"},"source_url":"https://www.barrons.com/articles/amc-rockets-higher-is-it-worth-it-maybe-51622594691?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188552613","content_text":"AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, that social media-fueled investor frenzy that has launched the likes of GameStop and BlackBerry into speculative territory.\nBut it’s possible that traditional investors have missed a fundamental change in the movie theater business—and it wouldn’t be the first time.\nShares of AMC (ticker: AMC) surged 23% on Tuesday, closing at $32.04—just off an all-time high of $36.72 set in late May. That puts the movie-theater chain’s market capitalization at roughly $16 billion, more than 15 times what it was in 2018, a record-breaking year at the box office. Shares were up another 34%, to $42.92, in premarket trading Wednesday.\nEven if investors missed an inflection point, though, the math doesn’t add up. The reason might be that market cap isn’t the right measure. Maybe it’s enterprise value, which is essentially market cap and debt. AMC’s enterprise value is about $26 billion, compared with $6.2 billion or so at the end of 2018.\nAMC added debt during the pandemic as theaters in the country’s biggest cities were dark for months. And the numbers make it easy to understand why: The U.S. box office in 2020 generated about $2.1 billion in ticket sales, down 81% from the 2018 record of $11.9 billion.\nSo, it seems investors have been vexed by movie theater economics. But it wouldn’t be the first time. The industry essentially went belly up at the turn of the millennium. Regal Cinemas, for instance, declared bankruptcy in 2001.\nBack then, the industry had plenty of capacity because of a new theater design—stadium seating that gave a better view of the screen. That shift meant movie theater chains had to renovate or risk losing all their patrons to movie theaters that offered the better view. In the end, too many seats and not enough patrons meant the return on the stadium-seating investments never materialized.\nThe upshot was consolidation. With fewer operators, the number of screens stabilized. Between 2002 and 2007, Regal Cinemas became a cash-generating machine because the stock was mispriced. The stock returned 21% a year on average. The S&P 500 and Dow Jones Industrial Average both returned less than 9% a year on average over the same period.\nIn those days, Regal Cinema’s enterprise value about $5 billion, or about 50% of total U.S. box office sales. That’s far short of AMC today. Something new has to be different for AMC to be worth it.\nMaybe the movie theater business is going to go through another period of consolidation, which can usher in another golden age of returns. AMC’s Tuesday gains, in fact, were catalyzed by new capital raised so the company could go on the offensive, acquiring defunct chains. Monopolies, after all, can be good for stock returns.\nIf AMC can increase market share and the U.S. box office sales can return to 2018 levels in a few years, total sales at might be $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 amounted to $5.5 billion.\nThen, with better gross profit margins derived from larger scale, AMC might be able to generate $600 million in free cash flow annually, which puts the stock at about a 4% free cash flow yield. The S&P 500 trades for about a 3% free cash flow yield. The numbers can work—if they’re stretched.\nThere are problems with this scenario, though. There are lots of ifs and mights—and AMC has never generated cash flow like that in the past. Arriving at $600 million in free cash flow is more about justifying current valuations than predicting what is likely.\nAlso, with mergers and acquisitions, AMC market shares might rise, but there are still competitors. Regal Cinemas is still out there, owned by Cineworld Holdings (CINE. London). So is Cinemark (CNK). There’s not a true monopoly.\nAMC and its peers have to deal with streaming, too. Windows for exclusive theater showings are shrinking. The pandemic has accelerated that. And if AMC gets too large and demanding for movie makers, the talent can always go to streaming faster, hurting box office sales.\nThere is also the problem of the peer stocks. They aren’t trading like this is a brave new world for theaters. Cineworld stock is up 484% from its 52-week low, but shares are still off 72% from all-time highs. Cinemark shares are up 222% from their 52-week low. They are down 47% from their all-time high.\nAMC stock, again, is up almost 1,600% from its 52-week low and is down just 13% from its May all-time high.\nWall Street just doesn’t see the potential either. Nine analysts cover the stock. The average analyst price target is about $5. Before the pandemic, the average analyst price target was $15. But there were fewer shares back then. The old target enterprise value was roughly $7 billion. It’s tough to get from $7 billion to $26 billion predicting better margins.\nAnalysts do have positive free cash flow modeled, though–$13 million in 2022 and $90 million in 2023. That’s a long way from $600 million.\nAnd that’s just another way of saying that AMC bulls are a long way from making the math work.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379269239,"gmtCreate":1618747280221,"gmtModify":1631887793794,"author":{"id":"3581497141923960","authorId":"3581497141923960","name":"Grabdiamond","avatar":"https://static.tigerbbs.com/10e3dcf66896be3e67e1ca4c0a38354b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581497141923960","idStr":"3581497141923960"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BNGO\">$Bionano Genomics(BNGO)$</a>buy and dump again on Monday?","listText":"<a href=\"https://laohu8.com/S/BNGO\">$Bionano Genomics(BNGO)$</a>buy and dump again on Monday?","text":"$Bionano Genomics(BNGO)$buy and dump again on Monday?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/379269239","isVote":1,"tweetType":1,"viewCount":688,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}