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2021-06-12

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2021-06-13

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2021-06-01

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2021-06-10

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2021-10-15

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2021-08-28

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2021-06-17

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Toplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote>

2021-06-16

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Cathay working with Airbus on single-pilot system for long-haul<blockquote>国泰航空与空客合作开发长途单飞行员系统</blockquote>

2021-06-06

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U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>

2021-08-25

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2021-08-09

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2021-06-14

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2021-08-23

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2021-07-11

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The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>

2021-09-01

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Beyond Meat Stock Turns Higher After Don Lee Farms Trade Secrets Case Ruling<blockquote>唐·李农场商业秘密案裁决后，Beyond Meat股价走高</blockquote>

2021-08-03

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2021-07-25

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Is IBM Stock Undervalued Or Overvalued? What To Consider<blockquote>IBM股票是被低估还是被高估？要考虑什么</blockquote>

2021-07-19

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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>

2021-07-03

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Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>

2021-06-15

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At $15 a share, the startup’s valuation is roughly $2.15 billion. It will trade Wednesday on the Nasdaq under the ticker BIRD.</p><p><blockquote>Allbirds周二晚间表示，它以每股15美元的价格出售了约2020万股，高于其计划以每股12至14美元的价格出售的1920万股。按每股15美元计算，这家初创公司的估值约为21.5亿美元。它将于周三在纳斯达克交易，股票代码为BIRD。</blockquote></p><p> Seventeen investment banks are working on the Allbirds IPO. Morgan Stanley, JP Morgan, and BofA Securities are lead underwriters on the deal, a prospectus said.</p><p><blockquote>十七家投资银行正在参与Allbirds的IPO。招股说明书称，摩根士丹利、摩根大通和美国银行证券是该交易的主承销商。</blockquote></p><p> Allbirds is one of several highly anticipated IPOs that have or will launch in the fourth quarter.GlobalFoundries&nbsp;(ticker: GFS), a chipmaker, went public last week. GlobalFoundries shares dropped 1.3% from its $47 IPO price during its debut, giving the company a $24.8 billion market capitalization. Rivian, the all-electric truck maker that’s backed by&nbsp;Amazon.com,will trade on Nov. 10. Rivian is seeking a $60 billion valuation. Nubank, the Brazilian digital lender backed by&nbsp;Berkshire Hathaway,has also filed to go public and is targeting a $50.6 billion valuation.</p><p><blockquote>Allbirds是已经或将在第四季度推出的几家备受期待的IPO之一。芯片制造商GlobalFoundries（股票代码：GFS）上周上市。GlobalFoundries股价较首次亮相时47美元的IPO价格下跌1.3%，使该公司市值达到248亿美元。由Amazon.com支持的全电动卡车制造商Rivian将于11月10日上市。Rivian寻求600亿美元的估值。伯克希尔哈撒韦公司支持的巴西数字贷款机构Nubank也已申请上市，目标估值为506亿美元。</blockquote></p><p> Founded in 2015, Allbirds uses renewable, natural materials to make its footwear. The company’s wool runner sneakers, which it calls the most comfortable shoe in the world, are made with sustainably sourced merino wool. The company’s SweetFoam sole technology, which is found in all of its shoes, uses carbon-negative green ethylene-vinyl acetate. The wool runners sneakers sell for $98 on the Allbirds website while the wool dweller slippers cost $65.</p><p><blockquote>Allbirds成立于2015年，使用可再生的天然材料制作鞋类。该公司的羊毛跑鞋是评级世界上最舒适的鞋子，由可持续来源的美利奴羊毛制成。该公司的SweetFoam鞋底技术存在于其所有鞋子中，使用负碳绿色乙烯-醋酸乙烯酯。羊毛跑步者运动鞋在Allbirds网站上的售价为98美元，而羊毛居民拖鞋的售价为65美元。</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>Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商Allbirds首日交易股价飙升110%</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\">\nEco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商Allbirds首日交易股价飙升110%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-04 01:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.</p><p><blockquote>环保运动鞋制造商Allbirds首日交易股价飙升110%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e8cf1dc39281c0616417e6baa42058c2\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Allbirds, the sustainable shoe company, raised nearly $303 million after increasing the size of its IPO that also priced above its expected price range.</p><p><blockquote>可持续鞋业公司Allbirds在扩大IPO规模后筹集了近3.03亿美元，IPO定价也高于预期价格范围。</blockquote></p><p> Allbirds said late Tuesday that it sold about 20.2 million shares at $15 each, up from the 19.2 million shares at $12 to $14 each it had planned to offer. At $15 a share, the startup’s valuation is roughly $2.15 billion. It will trade Wednesday on the Nasdaq under the ticker BIRD.</p><p><blockquote>Allbirds周二晚间表示，它以每股15美元的价格出售了约2020万股，高于其计划以每股12至14美元的价格出售的1920万股。按每股15美元计算，这家初创公司的估值约为21.5亿美元。它将于周三在纳斯达克交易，股票代码为BIRD。</blockquote></p><p> Seventeen investment banks are working on the Allbirds IPO. Morgan Stanley, JP Morgan, and BofA Securities are lead underwriters on the deal, a prospectus said.</p><p><blockquote>十七家投资银行正在参与Allbirds的IPO。招股说明书称，摩根士丹利、摩根大通和美国银行证券是该交易的主承销商。</blockquote></p><p> Allbirds is one of several highly anticipated IPOs that have or will launch in the fourth quarter.GlobalFoundries&nbsp;(ticker: GFS), a chipmaker, went public last week. GlobalFoundries shares dropped 1.3% from its $47 IPO price during its debut, giving the company a $24.8 billion market capitalization. Rivian, the all-electric truck maker that’s backed by&nbsp;Amazon.com,will trade on Nov. 10. Rivian is seeking a $60 billion valuation. Nubank, the Brazilian digital lender backed by&nbsp;Berkshire Hathaway,has also filed to go public and is targeting a $50.6 billion valuation.</p><p><blockquote>Allbirds是已经或将在第四季度推出的几家备受期待的IPO之一。芯片制造商GlobalFoundries（股票代码：GFS）上周上市。GlobalFoundries股价较首次亮相时47美元的IPO价格下跌1.3%，使该公司市值达到248亿美元。由Amazon.com支持的全电动卡车制造商Rivian将于11月10日上市。Rivian寻求600亿美元的估值。伯克希尔哈撒韦公司支持的巴西数字贷款机构Nubank也已申请上市，目标估值为506亿美元。</blockquote></p><p> Founded in 2015, Allbirds uses renewable, natural materials to make its footwear. The company’s wool runner sneakers, which it calls the most comfortable shoe in the world, are made with sustainably sourced merino wool. The company’s SweetFoam sole technology, which is found in all of its shoes, uses carbon-negative green ethylene-vinyl acetate. The wool runners sneakers sell for $98 on the Allbirds website while the wool dweller slippers cost $65.</p><p><blockquote>Allbirds成立于2015年，使用可再生的天然材料制作鞋类。该公司的羊毛跑鞋是评级世界上最舒适的鞋子，由可持续来源的美利奴羊毛制成。该公司的SweetFoam鞋底技术存在于其所有鞋子中，使用负碳绿色乙烯-醋酸乙烯酯。羊毛跑步者运动鞋在Allbirds网站上的售价为98美元，而羊毛居民拖鞋的售价为65美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/allbirds-ipo-stock-ticker-bird-valuation-51635904794?mod=hp_LATEST\">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":{"BIRD":"Allbirds, Inc."},"source_url":"https://www.barrons.com/articles/allbirds-ipo-stock-ticker-bird-valuation-51635904794?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145835908","content_text":"Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.\n\nAllbirds, the sustainable shoe company, raised nearly $303 million after increasing the size of its IPO that also priced above its expected price range.\nAllbirds said late Tuesday that it sold about 20.2 million shares at $15 each, up from the 19.2 million shares at $12 to $14 each it had planned to offer. At $15 a share, the startup’s valuation is roughly $2.15 billion. It will trade Wednesday on the Nasdaq under the ticker BIRD.\nSeventeen investment banks are working on the Allbirds IPO. Morgan Stanley, JP Morgan, and BofA Securities are lead underwriters on the deal, a prospectus said.\nAllbirds is one of several highly anticipated IPOs that have or will launch in the fourth quarter.GlobalFoundries (ticker: GFS), a chipmaker, went public last week. GlobalFoundries shares dropped 1.3% from its $47 IPO price during its debut, giving the company a $24.8 billion market capitalization. Rivian, the all-electric truck maker that’s backed by Amazon.com,will trade on Nov. 10. Rivian is seeking a $60 billion valuation. Nubank, the Brazilian digital lender backed by Berkshire Hathaway,has also filed to go public and is targeting a $50.6 billion valuation.\nFounded in 2015, Allbirds uses renewable, natural materials to make its footwear. The company’s wool runner sneakers, which it calls the most comfortable shoe in the world, are made with sustainably sourced merino wool. The company’s SweetFoam sole technology, which is found in all of its shoes, uses carbon-negative green ethylene-vinyl acetate. The wool runners sneakers sell for $98 on the Allbirds website while the wool dweller slippers cost $65.","news_type":1,"symbols_score_info":{"BIRD":0.9}},"isVote":1,"tweetType":1,"viewCount":1854,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857249690,"gmtCreate":1635537672854,"gmtModify":1635537672957,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/857249690","repostId":"1170077439","repostType":4,"repost":{"id":"1170077439","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":1635521388,"share":"https://www.laohu8.com/m/news/1170077439?lang=zh_CN&edition=full","pubTime":"2021-10-29 23:29","market":"us","language":"en","title":"Entrada jumped over 30% in morning trading,above its IPO price at 20 dollars per share<blockquote>Entrada在早盘交易中上涨了30%以上，高于每股20美元的IPO价格</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170077439","media":"Tiger Newspress","summary":"Entrada jumped over 30% in morning trading,above its IPO price at 20 dollars per share.Entrada, which is working to develop therapeutics for rare neuromuscular diseases such as Duchenne muscular dystrophy and myotonic dystrophy type 1, said it believes the proceeds, coupled with its existing resources, will be sufficient to fund its operating expenses and capital-spending needs into the second quarter of 2024.","content":"<p>Entrada&nbsp;jumped&nbsp;over&nbsp;30%&nbsp;in&nbsp;morning&nbsp;trading,above&nbsp;its&nbsp;IPO&nbsp;price&nbsp;at&nbsp;20&nbsp;dollars&nbsp;per&nbsp;share.<img src=\"https://static.tigerbbs.com/d7b5af9ada5c6d243935e675a495b080\" tg-width=\"769\" tg-height=\"570\" width=\"100%\" height=\"auto\">Entrada, which is working to develop therapeutics for rare neuromuscular diseases such as Duchenne muscular dystrophy and myotonic dystrophy type 1, said it believes the proceeds, coupled with its existing resources, will be sufficient to fund its operating expenses and capital-spending needs into the second quarter of 2024.</p><p><blockquote>Entrada在早盘交易中上涨了30%以上，高于每股20美元的IPO价格。Entrada正致力于开发杜氏肌营养不良症和1型强直性肌营养不良症等罕见神经肌肉疾病的治疗方法，该公司表示，相信所得款项加上现有资源，将足以满足其运营费用和资本支出需求。2024年第二季度。</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>Entrada jumped over 30% in morning trading,above its IPO price at 20 dollars per share<blockquote>Entrada在早盘交易中上涨了30%以上，高于每股20美元的IPO价格</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; 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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\">\nEntrada jumped over 30% in morning trading,above its IPO price at 20 dollars per share<blockquote>Entrada在早盘交易中上涨了30%以上，高于每股20美元的IPO价格</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\">2021-10-29 23:29</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Entrada&nbsp;jumped&nbsp;over&nbsp;30%&nbsp;in&nbsp;morning&nbsp;trading,above&nbsp;its&nbsp;IPO&nbsp;price&nbsp;at&nbsp;20&nbsp;dollars&nbsp;per&nbsp;share.<img src=\"https://static.tigerbbs.com/d7b5af9ada5c6d243935e675a495b080\" tg-width=\"769\" tg-height=\"570\" width=\"100%\" height=\"auto\">Entrada, which is working to develop therapeutics for rare neuromuscular diseases such as Duchenne muscular dystrophy and myotonic dystrophy type 1, said it believes the proceeds, coupled with its existing resources, will be sufficient to fund its operating expenses and capital-spending needs into the second quarter of 2024.</p><p><blockquote>Entrada在早盘交易中上涨了30%以上，高于每股20美元的IPO价格。Entrada正致力于开发杜氏肌营养不良症和1型强直性肌营养不良症等罕见神经肌肉疾病的治疗方法，该公司表示，相信所得款项加上现有资源，将足以满足其运营费用和资本支出需求。2024年第二季度。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TRDA":"Entrada Therapeutics, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170077439","content_text":"Entrada jumped over 30% in morning trading,above its IPO price at 20 dollars per share.Entrada, which is working to develop therapeutics for rare neuromuscular diseases such as Duchenne muscular dystrophy and myotonic dystrophy type 1, said it believes the proceeds, coupled with its existing resources, will be sufficient to fund its operating expenses and capital-spending needs into the second quarter of 2024.","news_type":1,"symbols_score_info":{"TRDA":0.9}},"isVote":1,"tweetType":1,"viewCount":2684,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853027668,"gmtCreate":1634743995416,"gmtModify":1634743995740,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853027668","repostId":"2176480374","repostType":4,"isVote":1,"tweetType":1,"viewCount":2046,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":850831382,"gmtCreate":1634569550434,"gmtModify":1634569583266,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850831382","repostId":"1185155570","repostType":4,"repost":{"id":"1185155570","kind":"news","pubTimestamp":1634511079,"share":"https://www.laohu8.com/m/news/1185155570?lang=zh_CN&edition=full","pubTime":"2021-10-18 06:51","market":"us","language":"en","title":"Tesla, AT&T, Netflix, ASML, Snap and Other Stocks for Investors to Watch This Week<blockquote>特斯拉、AT&amp;T、Netflix、ASML、Snap等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185155570","media":"Barrons","summary":"Seventy-two S&P 500 companies report earnings this week, as third-quarter earnings season ramps up. ","content":"<p>Seventy-two&nbsp;S&amp;P 500&nbsp;companies report earnings this week,&nbsp;as third-quarter earnings season ramps up. Several big U.S. banks got things off to a strong start last week. This week’s earnings highlights&nbsp;will include&nbsp;results from notable companies in telecom, consumer staples, energy, technology, health care, and the airline industry.</p><p><blockquote>随着第三季度财报季的临近，本周有72家标准普尔500指数公司公布了财报。美国几家大型银行上周开局良好。本周的财报亮点将包括电信、必需消费品、能源、科技、医疗保健和航空业著名公司的业绩。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/685ba1e7f4763c12a3c0159fc2469ded\" tg-width=\"1878\" tg-height=\"2461\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Albertsons and&nbsp;State Street&nbsp;get the ball rolling on Monday.Procter &amp; Gamble,Halliburton,and&nbsp;Johnson &amp; Johnson&nbsp;are Tuesday morning’s highlights, followed by&nbsp;Netflix&nbsp;and&nbsp;United Airlines Holdings&nbsp;after the market closes.</p><p><blockquote>艾伯森(Albertsons)和道富银行(State Street)将于周一启动。宝洁(Procter&amp;Gamble)、哈里伯顿(Halliburton)和强生(Johnson&amp;Johnson)是周二上午的亮点，收盘后紧随其后的是Netflix和联合航空控股(United Airlines Holdings)。</blockquote></p><p> On Wednesday,Verizon Communications,IBM,and Tesla will get the most attention.AT&amp;T, American Airlines Group,Southwest Airlines,and&nbsp;Chipotle Mexican Grill&nbsp;report on Thursday, then&nbsp;American Express,Schlumberger,and&nbsp;Honeywell International&nbsp;close the week on Friday.</p><p><blockquote>周三，Verizon Communications、IBM和特斯拉将受到最多关注。AT&amp;T、美国航空集团、西南航空和Chipotle Mexican Grill将于周四发布报告，然后美国运通、Schlumberger和Honeywell International将于周五收盘。</blockquote></p><p> Economic data highlights this week include the Conference Board’s Leading Economic Index for September on Thursday and&nbsp;IHS Markit’s&nbsp;Manufacturing and Services Purchasing Managers’ indexes for October on Friday. All are seen easing back from their prior months’ levels.</p><p><blockquote>本周经济数据亮点包括周四公布的世界大型企业联合会9月份领先经济指数和周五公布的IHS Markit 10月份制造业和服务业采购经理人指数。所有这些都较前几个月的水平有所回落。</blockquote></p><p> Other releases this week include the Federal Reserve’s most recent Beige Book, describing economic conditions across the U.S., and a pair of September housing-market indicators: The Census Bureau reports new residential construction data on Tuesday and the National Association of Realtors reports existing-home sales on Thursday.</p><p><blockquote>本周发布的其他数据包括美联储最新的褐皮书，描述了美国各地的经济状况，以及两个9月份的房地产市场指标：人口普查局（Census Bureau）周二报告新的住宅建设数据，全国房地产经纪人协会（National Association of Realtors）周四报告现房销售。</blockquote></p><p> <b>Monday 10/18</b></p><p><blockquote><b>星期一10/18</b></blockquote></p><p> <b>The Federal Reserve</b>&nbsp;releases industrial production data for September. Economists are looking for a 0.20% rise after a 0.4% increase in August. Capacity utilization is expected at 76.5% for September, roughly in line with August’s 76.4%.</p><p><blockquote><b>美联储</b>公布9月份工业生产数据。继8月份增长0.4%后，经济学家预计增长0.20%。预计9月份产能利用率为76.5%，与8月份的76.4%大致一致。</blockquote></p><p> Albertsons, Philips, Steel Dynamics, and State Street are among companies releasing quarterly financial results.</p><p><blockquote>艾伯森、飞利浦、Steel Dynamics和道富银行等公司发布了季度财务业绩。</blockquote></p><p> <b>Tuesday 10/19</b></p><p><blockquote><b>星期二10/19</b></blockquote></p><p> <b>The Census Bureau</b> reports new residential construction data for September. Economists forecast a seasonally adjusted annual rate of 1.623 million housing starts, compared with 1.615 million in August.</p><p><blockquote><b>人口普查局</b>报告9月份新住宅建设数据。经济学家预测，经季节调整后的新屋开工年率为162.3万套，8月为161.5万套。</blockquote></p><p> Halliburton, Procter &amp; Gamble, Johnson &amp; Johnson, Synchrony, Travelers, Philip Morris International, Kansas City Southern, WD-40, Interactive Brokers Group, Netflix, ManpowerGroup, Dover, and Canadian National Railway are among companies hosting earnings conference calls.</p><p><blockquote>哈里伯顿、宝洁、强生、Synchrony、Travelers、Philip Morris International、Kansas City Southern、WD-40、盈透证券集团、Netflix、万宝盛华、Dover和加拿大国家铁路等公司在评级举办财报会议。</blockquote></p><p> <b>Wednesday 10/20</b></p><p><blockquote><b>星期三10/20</b></blockquote></p><p> <b>The Federal Reserve</b> releases its beige book about current economic conditions across the central bank’s 12 districts.</p><p><blockquote><b>美联储</b>发布了关于央行12个地区当前经济状况的褐皮书。</blockquote></p><p> Abbott Laboratories, Biogen, NextEra Energy, ASML Holding, Nasdaq, Canadian Pacific Railway, Verizon Communications, CSX, Lam Research, Tesla, IBM, and Anthem discuss quarterly financial results.</p><p><blockquote>雅培实验室、Biogen、NextEra Energy、ASML Holding、纳斯达克、加拿大太平洋铁路、Verizon Communications、CSX、Lam Research、特斯拉、IBM和Anthem讨论季度财务业绩。</blockquote></p><p> <b>Thursday 10/21</b></p><p><blockquote><b>星期四10/21</b></blockquote></p><p> <b>The National Association</b> of Realtors reports existing-home sales for September. Economists forecast a seasonally adjusted annual rate of 6.10 million homes sold, compared with 5.88 million homes in August.</p><p><blockquote><b>全国协会</b>房地产经纪人报告9月份现房销售情况。经济学家预测，经季节调整后的房屋销售量年率为610万套，而8月份为588万套。</blockquote></p><p> Dow, Freeport-McMoRan, Genuine Parts, Southwest Airlines, Valero Energy, Blackstone, Quest Diagnostics, Snap-on, Tractor Supply, Barclays, Danaher, AT&amp;T, Nucor, American Airlines Group, AutoNation, Valero Energy, SL Green Realty, Intel, Snap, Boston Beer, Mattel, and Chipotle Mexican Grill host earnings conference calls to discuss quarterly results.</p><p><blockquote>陶氏化学、自由港麦克莫兰、原厂零件、西南航空、Valero Energy、Blackstone、Quest Diagnostics、Snap-on、Tractor Supply、Barclays、Danaher、AT&amp;T、Nucor、美国航空集团、AutoNation、Valero Energy、SL Green Realty、英特尔、Snap、Boston Beer、Mattel和Chipotle Mexican Grill在评级举办财报会议，讨论季度业绩。</blockquote></p><p> <b>The Philadelphia Fed</b>&nbsp;diffusion index, a measure of overall manufacturing activity, is expected to fall to 24 in October from September’s 30.7 reading.</p><p><blockquote><b>费城联储</b>衡量整体制造业活动的扩散指数预计将从9月份的30.7降至10月份的24。</blockquote></p><p> <b>The Conference Board</b>&nbsp;releases its Leading Economic Index for September. Expectations are for a 0.50% rise, after August’s 0.90% gain.</p><p><blockquote><b>世界大型企业联合会</b>发布9月份领先经济指数。继8月份上涨0.90%后，预计上涨0.50%。</blockquote></p><p> <b>Friday 10/22</b></p><p><blockquote><b>星期五10/22</b></blockquote></p><p> <b>IHS Markit releases</b>&nbsp;the Manufacturing and Services Purchasing Managers’ indexes for October. Consensus estimate for the Manufacturing PMI is 60.3, while the Services PMI is expected to be 54.7, compared with 60.7 and 54.9, respectively, in September.</p><p><blockquote><b>IHS Markit发布</b>10月份制造业和服务业采购经理人指数。制造业PMI普遍预期为60.3，服务业PMI预计为54.7，9月份分别为60.7和54.9。</blockquote></p><p> Whirlpool, Honeywell, Cleveland-Cliffs, Celanese, HCA Healthcare, Schlumberger, Seagate Technology Holdings, VF Corp., and American Express host investor conference calls.</p><p><blockquote>Whirlpool、Honeywell、Cleveland-Cliffs、Celanese、HCA Healthcare、Schlumberger、Seagate Technology Holdings、VF Corp.和American Express在评级举办投资者大会。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla, AT&T, Netflix, ASML, Snap and Other Stocks for Investors to Watch This Week<blockquote>特斯拉、AT&amp;T、Netflix、ASML、Snap等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla, AT&T, Netflix, ASML, Snap and Other Stocks for Investors to Watch This Week<blockquote>特斯拉、AT&amp;T、Netflix、ASML、Snap等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-10-18 06:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Seventy-two&nbsp;S&amp;P 500&nbsp;companies report earnings this week,&nbsp;as third-quarter earnings season ramps up. Several big U.S. banks got things off to a strong start last week. This week’s earnings highlights&nbsp;will include&nbsp;results from notable companies in telecom, consumer staples, energy, technology, health care, and the airline industry.</p><p><blockquote>随着第三季度财报季的临近，本周有72家标准普尔500指数公司公布了财报。美国几家大型银行上周开局良好。本周的财报亮点将包括电信、必需消费品、能源、科技、医疗保健和航空业著名公司的业绩。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/685ba1e7f4763c12a3c0159fc2469ded\" tg-width=\"1878\" tg-height=\"2461\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Albertsons and&nbsp;State Street&nbsp;get the ball rolling on Monday.Procter &amp; Gamble,Halliburton,and&nbsp;Johnson &amp; Johnson&nbsp;are Tuesday morning’s highlights, followed by&nbsp;Netflix&nbsp;and&nbsp;United Airlines Holdings&nbsp;after the market closes.</p><p><blockquote>艾伯森(Albertsons)和道富银行(State Street)将于周一启动。宝洁(Procter&amp;Gamble)、哈里伯顿(Halliburton)和强生(Johnson&amp;Johnson)是周二上午的亮点，收盘后紧随其后的是Netflix和联合航空控股(United Airlines Holdings)。</blockquote></p><p> On Wednesday,Verizon Communications,IBM,and Tesla will get the most attention.AT&amp;T, American Airlines Group,Southwest Airlines,and&nbsp;Chipotle Mexican Grill&nbsp;report on Thursday, then&nbsp;American Express,Schlumberger,and&nbsp;Honeywell International&nbsp;close the week on Friday.</p><p><blockquote>周三，Verizon Communications、IBM和特斯拉将受到最多关注。AT&amp;T、美国航空集团、西南航空和Chipotle Mexican Grill将于周四发布报告，然后美国运通、Schlumberger和Honeywell International将于周五收盘。</blockquote></p><p> Economic data highlights this week include the Conference Board’s Leading Economic Index for September on Thursday and&nbsp;IHS Markit’s&nbsp;Manufacturing and Services Purchasing Managers’ indexes for October on Friday. All are seen easing back from their prior months’ levels.</p><p><blockquote>本周经济数据亮点包括周四公布的世界大型企业联合会9月份领先经济指数和周五公布的IHS Markit 10月份制造业和服务业采购经理人指数。所有这些都较前几个月的水平有所回落。</blockquote></p><p> Other releases this week include the Federal Reserve’s most recent Beige Book, describing economic conditions across the U.S., and a pair of September housing-market indicators: The Census Bureau reports new residential construction data on Tuesday and the National Association of Realtors reports existing-home sales on Thursday.</p><p><blockquote>本周发布的其他数据包括美联储最新的褐皮书，描述了美国各地的经济状况，以及两个9月份的房地产市场指标：人口普查局（Census Bureau）周二报告新的住宅建设数据，全国房地产经纪人协会（National Association of Realtors）周四报告现房销售。</blockquote></p><p> <b>Monday 10/18</b></p><p><blockquote><b>星期一10/18</b></blockquote></p><p> <b>The Federal Reserve</b>&nbsp;releases industrial production data for September. Economists are looking for a 0.20% rise after a 0.4% increase in August. Capacity utilization is expected at 76.5% for September, roughly in line with August’s 76.4%.</p><p><blockquote><b>美联储</b>公布9月份工业生产数据。继8月份增长0.4%后，经济学家预计增长0.20%。预计9月份产能利用率为76.5%，与8月份的76.4%大致一致。</blockquote></p><p> Albertsons, Philips, Steel Dynamics, and State Street are among companies releasing quarterly financial results.</p><p><blockquote>艾伯森、飞利浦、Steel Dynamics和道富银行等公司发布了季度财务业绩。</blockquote></p><p> <b>Tuesday 10/19</b></p><p><blockquote><b>星期二10/19</b></blockquote></p><p> <b>The Census Bureau</b> reports new residential construction data for September. Economists forecast a seasonally adjusted annual rate of 1.623 million housing starts, compared with 1.615 million in August.</p><p><blockquote><b>人口普查局</b>报告9月份新住宅建设数据。经济学家预测，经季节调整后的新屋开工年率为162.3万套，8月为161.5万套。</blockquote></p><p> Halliburton, Procter &amp; Gamble, Johnson &amp; Johnson, Synchrony, Travelers, Philip Morris International, Kansas City Southern, WD-40, Interactive Brokers Group, Netflix, ManpowerGroup, Dover, and Canadian National Railway are among companies hosting earnings conference calls.</p><p><blockquote>哈里伯顿、宝洁、强生、Synchrony、Travelers、Philip Morris International、Kansas City Southern、WD-40、盈透证券集团、Netflix、万宝盛华、Dover和加拿大国家铁路等公司在评级举办财报会议。</blockquote></p><p> <b>Wednesday 10/20</b></p><p><blockquote><b>星期三10/20</b></blockquote></p><p> <b>The Federal Reserve</b> releases its beige book about current economic conditions across the central bank’s 12 districts.</p><p><blockquote><b>美联储</b>发布了关于央行12个地区当前经济状况的褐皮书。</blockquote></p><p> Abbott Laboratories, Biogen, NextEra Energy, ASML Holding, Nasdaq, Canadian Pacific Railway, Verizon Communications, CSX, Lam Research, Tesla, IBM, and Anthem discuss quarterly financial results.</p><p><blockquote>雅培实验室、Biogen、NextEra Energy、ASML Holding、纳斯达克、加拿大太平洋铁路、Verizon Communications、CSX、Lam Research、特斯拉、IBM和Anthem讨论季度财务业绩。</blockquote></p><p> <b>Thursday 10/21</b></p><p><blockquote><b>星期四10/21</b></blockquote></p><p> <b>The National Association</b> of Realtors reports existing-home sales for September. Economists forecast a seasonally adjusted annual rate of 6.10 million homes sold, compared with 5.88 million homes in August.</p><p><blockquote><b>全国协会</b>房地产经纪人报告9月份现房销售情况。经济学家预测，经季节调整后的房屋销售量年率为610万套，而8月份为588万套。</blockquote></p><p> Dow, Freeport-McMoRan, Genuine Parts, Southwest Airlines, Valero Energy, Blackstone, Quest Diagnostics, Snap-on, Tractor Supply, Barclays, Danaher, AT&amp;T, Nucor, American Airlines Group, AutoNation, Valero Energy, SL Green Realty, Intel, Snap, Boston Beer, Mattel, and Chipotle Mexican Grill host earnings conference calls to discuss quarterly results.</p><p><blockquote>陶氏化学、自由港麦克莫兰、原厂零件、西南航空、Valero Energy、Blackstone、Quest Diagnostics、Snap-on、Tractor Supply、Barclays、Danaher、AT&amp;T、Nucor、美国航空集团、AutoNation、Valero Energy、SL Green Realty、英特尔、Snap、Boston Beer、Mattel和Chipotle Mexican Grill在评级举办财报会议，讨论季度业绩。</blockquote></p><p> <b>The Philadelphia Fed</b>&nbsp;diffusion index, a measure of overall manufacturing activity, is expected to fall to 24 in October from September’s 30.7 reading.</p><p><blockquote><b>费城联储</b>衡量整体制造业活动的扩散指数预计将从9月份的30.7降至10月份的24。</blockquote></p><p> <b>The Conference Board</b>&nbsp;releases its Leading Economic Index for September. Expectations are for a 0.50% rise, after August’s 0.90% gain.</p><p><blockquote><b>世界大型企业联合会</b>发布9月份领先经济指数。继8月份上涨0.90%后，预计上涨0.50%。</blockquote></p><p> <b>Friday 10/22</b></p><p><blockquote><b>星期五10/22</b></blockquote></p><p> <b>IHS Markit releases</b>&nbsp;the Manufacturing and Services Purchasing Managers’ indexes for October. Consensus estimate for the Manufacturing PMI is 60.3, while the Services PMI is expected to be 54.7, compared with 60.7 and 54.9, respectively, in September.</p><p><blockquote><b>IHS Markit发布</b>10月份制造业和服务业采购经理人指数。制造业PMI普遍预期为60.3，服务业PMI预计为54.7，9月份分别为60.7和54.9。</blockquote></p><p> Whirlpool, Honeywell, Cleveland-Cliffs, Celanese, HCA Healthcare, Schlumberger, Seagate Technology Holdings, VF Corp., and American Express host investor conference calls.</p><p><blockquote>Whirlpool、Honeywell、Cleveland-Cliffs、Celanese、HCA Healthcare、Schlumberger、Seagate Technology Holdings、VF Corp.和American Express在评级举办投资者大会。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-at-t-netflix-chipotle-and-other-stocks-for-investors-to-watch-this-week-51634497206?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉",".DJI":"道琼斯","AAL":"美国航空","JNJ":"强生",".IXIC":"NASDAQ Composite","T":"At&T","IBM":"IBM","LUV":"西南航空","CMG":"墨式烧烤","UAL":"联合大陆航空","AXP":"美国运通","INTC":"英特尔","NFLX":"奈飞",".SPX":"S&P 500 Index","HAL":"哈里伯顿"},"source_url":"https://www.barrons.com/articles/tesla-at-t-netflix-chipotle-and-other-stocks-for-investors-to-watch-this-week-51634497206?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185155570","content_text":"Seventy-two S&P 500 companies report earnings this week, as third-quarter earnings season ramps up. Several big U.S. banks got things off to a strong start last week. This week’s earnings highlights will include results from notable companies in telecom, consumer staples, energy, technology, health care, and the airline industry.\n\nAlbertsons and State Street get the ball rolling on Monday.Procter & Gamble,Halliburton,and Johnson & Johnson are Tuesday morning’s highlights, followed by Netflix and United Airlines Holdings after the market closes.\nOn Wednesday,Verizon Communications,IBM,and Tesla will get the most attention.AT&T, American Airlines Group,Southwest Airlines,and Chipotle Mexican Grill report on Thursday, then American Express,Schlumberger,and Honeywell International close the week on Friday.\nEconomic data highlights this week include the Conference Board’s Leading Economic Index for September on Thursday and IHS Markit’s Manufacturing and Services Purchasing Managers’ indexes for October on Friday. All are seen easing back from their prior months’ levels.\nOther releases this week include the Federal Reserve’s most recent Beige Book, describing economic conditions across the U.S., and a pair of September housing-market indicators: The Census Bureau reports new residential construction data on Tuesday and the National Association of Realtors reports existing-home sales on Thursday.\nMonday 10/18\nThe Federal Reserve releases industrial production data for September. Economists are looking for a 0.20% rise after a 0.4% increase in August. Capacity utilization is expected at 76.5% for September, roughly in line with August’s 76.4%.\nAlbertsons, Philips, Steel Dynamics, and State Street are among companies releasing quarterly financial results.\nTuesday 10/19\nThe Census Bureau reports new residential construction data for September. Economists forecast a seasonally adjusted annual rate of 1.623 million housing starts, compared with 1.615 million in August.\nHalliburton, Procter & Gamble, Johnson & Johnson, Synchrony, Travelers, Philip Morris International, Kansas City Southern, WD-40, Interactive Brokers Group, Netflix, ManpowerGroup, Dover, and Canadian National Railway are among companies hosting earnings conference calls.\nWednesday 10/20\nThe Federal Reserve releases its beige book about current economic conditions across the central bank’s 12 districts.\nAbbott Laboratories, Biogen, NextEra Energy, ASML Holding, Nasdaq, Canadian Pacific Railway, Verizon Communications, CSX, Lam Research, Tesla, IBM, and Anthem discuss quarterly financial results.\nThursday 10/21\nThe National Association of Realtors reports existing-home sales for September. Economists forecast a seasonally adjusted annual rate of 6.10 million homes sold, compared with 5.88 million homes in August.\nDow, Freeport-McMoRan, Genuine Parts, Southwest Airlines, Valero Energy, Blackstone, Quest Diagnostics, Snap-on, Tractor Supply, Barclays, Danaher, AT&T, Nucor, American Airlines Group, AutoNation, Valero Energy, SL Green Realty, Intel, Snap, Boston Beer, Mattel, and Chipotle Mexican Grill host earnings conference calls to discuss quarterly results.\nThe Philadelphia Fed diffusion index, a measure of overall manufacturing activity, is expected to fall to 24 in October from September’s 30.7 reading.\nThe Conference Board releases its Leading Economic Index for September. Expectations are for a 0.50% rise, after August’s 0.90% gain.\nFriday 10/22\nIHS Markit releases the Manufacturing and Services Purchasing Managers’ indexes for October. Consensus estimate for the Manufacturing PMI is 60.3, while the Services PMI is expected to be 54.7, compared with 60.7 and 54.9, respectively, in September.\nWhirlpool, Honeywell, Cleveland-Cliffs, Celanese, HCA Healthcare, Schlumberger, Seagate Technology Holdings, VF Corp., and American Express host investor conference calls.","news_type":1,"symbols_score_info":{"AXP":0.9,"UAL":0.9,"HAL":0.9,".SPX":0.9,".IXIC":0.9,"TSLA":0.9,"INTC":0.9,".DJI":0.9,"AAL":0.9,"T":0.9,"IBM":0.9,"LUV":0.9,"NFLX":0.9,"JNJ":0.9,"CMG":0.9}},"isVote":1,"tweetType":1,"viewCount":1640,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":824656458,"gmtCreate":1634309850287,"gmtModify":1634309850601,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"k","listText":"k","text":"k","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/824656458","repostId":"2175117376","repostType":4,"isVote":1,"tweetType":1,"viewCount":3488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825205415,"gmtCreate":1634225145722,"gmtModify":1634225145860,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/825205415","repostId":"2175194196","repostType":4,"isVote":1,"tweetType":1,"viewCount":2034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":822565467,"gmtCreate":1634145782724,"gmtModify":1634145782831,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/822565467","repostId":"2175157695","repostType":4,"isVote":1,"tweetType":1,"viewCount":1966,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821712490,"gmtCreate":1633789210647,"gmtModify":1633789210746,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/821712490","repostId":"1167388174","repostType":4,"isVote":1,"tweetType":1,"viewCount":2995,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821352143,"gmtCreate":1633701118299,"gmtModify":1633701118609,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"ye","listText":"ye","text":"ye","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/821352143","repostId":"1183441822","repostType":4,"repost":{"id":"1183441822","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":1633699900,"share":"https://www.laohu8.com/m/news/1183441822?lang=zh_CN&edition=full","pubTime":"2021-10-08 21:31","market":"us","language":"en","title":"U.S. stocks edged higher Friday<blockquote>美国股市周五小幅走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183441822","media":"Tiger Newspress","summary":"(Oct 8) Stock market opens slightly higher as September jobs report comes in lighter than expected.\n","content":"<p>(Oct 8)&nbsp;Stock market opens slightly higher as September jobs report comes in lighter than expected.</p><p><blockquote>（10月8日）9月份就业报告弱于预期，股市小幅高开。</blockquote></p><p> Dow gains 0.1%; S&amp;P 500 rises 0.2%,&nbsp;Nasdaq Composite advances 0.3% early Friday.</p><p><blockquote>道指上涨0.1%；周五早盘，标普500上涨0.2%，纳斯达克综合指数上涨0.3%。</blockquote></p><p> China tech names mixed&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>中国科技股早盘涨跌互现。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/40625180925bb30a021e88a6d3107dfe\" tg-width=\"343\" tg-height=\"839\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Camber Energy surged 30%&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>Camber Energy早盘大涨30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ca3cb2fa5905e41409b20eddef6b63b3\" tg-width=\"1189\" tg-height=\"562\" referrerpolicy=\"no-referrer\">The yield on the benchmark 10-year Treasury note climbed above 1.6% before the jobs report was out, for the first time since June. It then edged down to 1.58% in recent trading.</p><p><blockquote>在就业报告发布之前，基准10年期国债收益率自6月份以来首次攀升至1.6%以上。随后在最近的交易中小幅下跌至1.58%。</blockquote></p><p> The U.S. added 194,000 jobs in September,data showed Friday, substantially less than expected and down from August. Economists had forecast a gain of 500,000 jobs. The end of federal Covid-related jobless benefits and reopened schools drove some workers back into the labor force, but the Delta variant and persistent staffing shortages are restraining the recovery.</p><p><blockquote>周五数据显示，美国9月份新增就业岗位19.4万个，大幅低于预期，也低于8月份。经济学家此前预测将增加50万个工作岗位。与新冠疫情相关的联邦失业救济金的结束和学校的重新开放促使一些工人重返劳动力市场，但德尔塔变异毒株和持续的人员短缺正在限制复苏。</blockquote></p><p> “I was surprised at how bad the miss was,” said Shana Sissel, chief investment officer at Spotlight Asset Group.</p><p><blockquote>Spotlight Asset Group首席投资官Shana Sissel表示：“我对这次失误的严重程度感到惊讶。”</blockquote></p><p> The Federal Reserve has said the labor market’s recovery is the key variable driving monetary policy and investors are watching closely to see if Friday’s report could affect plans to taper stimulus.</p><p><blockquote>美联储曾表示，劳动力市场的复苏是推动货币政策的关键变量，投资者正在密切关注周五的报告是否会影响缩减刺激计划。</blockquote></p><p> Volatility returned to markets in recent days, with the S&amp;P 500 swinging at least 1% for three out of four days this week. Investors have been focused on surging energy prices, concerns about inflation and negotiations on the debt ceiling. Lawmakers struck a deal for ashort-term extension to the debt limitin the Senate on Thursday, stoking a rally in the stock market.</p><p><blockquote>最近几天，市场再次出现波动，本周四天中有三天标普500波动至少1%。投资者一直关注能源价格飙升、通胀担忧和债务上限谈判。周四，立法者在参议院达成了短期延长债务限额的协议，引发股市上涨。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks edged higher Friday<blockquote>美国股市周五小幅走高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stocks edged higher Friday<blockquote>美国股市周五小幅走高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-08 21:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Oct 8)&nbsp;Stock market opens slightly higher as September jobs report comes in lighter than expected.</p><p><blockquote>（10月8日）9月份就业报告弱于预期，股市小幅高开。</blockquote></p><p> Dow gains 0.1%; S&amp;P 500 rises 0.2%,&nbsp;Nasdaq Composite advances 0.3% early Friday.</p><p><blockquote>道指上涨0.1%；周五早盘，标普500上涨0.2%，纳斯达克综合指数上涨0.3%。</blockquote></p><p> China tech names mixed&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>中国科技股早盘涨跌互现。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/40625180925bb30a021e88a6d3107dfe\" tg-width=\"343\" tg-height=\"839\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Camber Energy surged 30%&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>Camber Energy早盘大涨30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ca3cb2fa5905e41409b20eddef6b63b3\" tg-width=\"1189\" tg-height=\"562\" referrerpolicy=\"no-referrer\">The yield on the benchmark 10-year Treasury note climbed above 1.6% before the jobs report was out, for the first time since June. It then edged down to 1.58% in recent trading.</p><p><blockquote>在就业报告发布之前，基准10年期国债收益率自6月份以来首次攀升至1.6%以上。随后在最近的交易中小幅下跌至1.58%。</blockquote></p><p> The U.S. added 194,000 jobs in September,data showed Friday, substantially less than expected and down from August. Economists had forecast a gain of 500,000 jobs. The end of federal Covid-related jobless benefits and reopened schools drove some workers back into the labor force, but the Delta variant and persistent staffing shortages are restraining the recovery.</p><p><blockquote>周五数据显示，美国9月份新增就业岗位19.4万个，大幅低于预期，也低于8月份。经济学家此前预测将增加50万个工作岗位。与新冠疫情相关的联邦失业救济金的结束和学校的重新开放促使一些工人重返劳动力市场，但德尔塔变异毒株和持续的人员短缺正在限制复苏。</blockquote></p><p> “I was surprised at how bad the miss was,” said Shana Sissel, chief investment officer at Spotlight Asset Group.</p><p><blockquote>Spotlight Asset Group首席投资官Shana Sissel表示：“我对这次失误的严重程度感到惊讶。”</blockquote></p><p> The Federal Reserve has said the labor market’s recovery is the key variable driving monetary policy and investors are watching closely to see if Friday’s report could affect plans to taper stimulus.</p><p><blockquote>美联储曾表示，劳动力市场的复苏是推动货币政策的关键变量，投资者正在密切关注周五的报告是否会影响缩减刺激计划。</blockquote></p><p> Volatility returned to markets in recent days, with the S&amp;P 500 swinging at least 1% for three out of four days this week. Investors have been focused on surging energy prices, concerns about inflation and negotiations on the debt ceiling. Lawmakers struck a deal for ashort-term extension to the debt limitin the Senate on Thursday, stoking a rally in the stock market.</p><p><blockquote>最近几天，市场再次出现波动，本周四天中有三天标普500波动至少1%。投资者一直关注能源价格飙升、通胀担忧和债务上限谈判。周四，立法者在参议院达成了短期延长债务限额的协议，引发股市上涨。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183441822","content_text":"(Oct 8) Stock market opens slightly higher as September jobs report comes in lighter than expected.\nDow gains 0.1%; S&P 500 rises 0.2%, Nasdaq Composite advances 0.3% early Friday.\nChina tech names mixed in early trading.\n\nCamber Energy surged 30% in early trading.\nThe yield on the benchmark 10-year Treasury note climbed above 1.6% before the jobs report was out, for the first time since June. It then edged down to 1.58% in recent trading.\nThe U.S. added 194,000 jobs in September,data showed Friday, substantially less than expected and down from August. Economists had forecast a gain of 500,000 jobs. The end of federal Covid-related jobless benefits and reopened schools drove some workers back into the labor force, but the Delta variant and persistent staffing shortages are restraining the recovery.\n“I was surprised at how bad the miss was,” said Shana Sissel, chief investment officer at Spotlight Asset Group.\nThe Federal Reserve has said the labor market’s recovery is the key variable driving monetary policy and investors are watching closely to see if Friday’s report could affect plans to taper stimulus.\nVolatility returned to markets in recent days, with the S&P 500 swinging at least 1% for three out of four days this week. Investors have been focused on surging energy prices, concerns about inflation and negotiations on the debt ceiling. Lawmakers struck a deal for ashort-term extension to the debt limitin the Senate on Thursday, stoking a rally in the stock market.","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1859,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823677509,"gmtCreate":1633621631688,"gmtModify":1633621632024,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/823677509","repostId":"2173944807","repostType":4,"isVote":1,"tweetType":1,"viewCount":3755,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829978498,"gmtCreate":1633469389888,"gmtModify":1633469398183,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"k","listText":"k","text":"k","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/829978498","repostId":"2173151439","repostType":4,"isVote":1,"tweetType":1,"viewCount":813,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":867330676,"gmtCreate":1633213422060,"gmtModify":1633213422411,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/867330676","repostId":"2172964582","repostType":4,"isVote":1,"tweetType":1,"viewCount":549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":864285548,"gmtCreate":1633106624343,"gmtModify":1633106624691,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/864285548","repostId":"2172963995","repostType":4,"isVote":1,"tweetType":1,"viewCount":500,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865930868,"gmtCreate":1632928993605,"gmtModify":1632929023925,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865930868","repostId":"1174673289","repostType":4,"isVote":1,"tweetType":1,"viewCount":530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866869550,"gmtCreate":1632753755170,"gmtModify":1632798070365,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/866869550","repostId":"2170930623","repostType":4,"repost":{"id":"2170930623","kind":"highlight","pubTimestamp":1632752688,"share":"https://www.laohu8.com/m/news/2170930623?lang=zh_CN&edition=full","pubTime":"2021-09-27 22:24","market":"us","language":"en","title":"Bank stocks are cheap -- here are the 20 best players in the industry<blockquote>银行股很便宜——以下是业内20只最好的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2170930623","media":"MarketWatch","summary":"Bank stocks have soared during 2021, but are still trading lower than usual to the market as a whole","content":"<p>Bank stocks have soared during 2021, but are still trading lower than usual to the market as a whole</p><p><blockquote>银行股在2021年飙升，但整体市场交易价格仍低于平时</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f684a94a59b066b5c5fddf327b6be10\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>BLOOMBERG</span></p><p><blockquote><p class=\"t-img-caption\"><span>彭博社</span></p></blockquote></p><p> Bank stocks have had a good run in 2021, but they still lag behind the broader market's recovery since the pandemic doldrums of 2020. And now that the Federal Reserve seems likely to allow interest rates to rise soon, the banks may have an easier time improving their profits.</p><p><blockquote>银行股在2021年表现良好，但自2020年疫情低迷以来，它们仍落后于大盘的复苏。现在美联储似乎可能很快允许利率上升，银行可能会更容易提高利润。</blockquote></p><p> Below is a list of the best-performing U.S. banks over the past five years, based on returns on common equity.</p><p><blockquote>以下是根据普通股回报率列出的过去五年表现最佳的美国银行名单。</blockquote></p><p> During her recent discussion of stock-market strategy on CNBC, Savita Subramanian, the head of U.S. equity and quantitative strategy at Bank of America, said that small-cap stocks, especially energy and financial companies, were trading at compelling valuations and could give investors \"more earnings yield for the same price.\"</p><p><blockquote>美国银行美国股票和量化策略主管萨维塔·萨勃拉曼尼亚(Savita Subramanian)最近在CNBC上讨论股市策略时表示，小盘股，尤其是能源和金融公司的估值令人信服，可能会给投资者带来“相同价格的更高收益率”。</blockquote></p><p> Here's a recent screen of energy stocks.</p><p><blockquote>这是最近能源股的屏幕。</blockquote></p><p> <b>Low valuations</b></p><p><blockquote><b>低估值</b></blockquote></p><p> Taking a broad look at forward price-to-earning valuations for the S&amp;P 1500 Composite Index (made up of the large-cap S&amp;P 500 , the S&amp;P 400 Mid Cap Index <a href=\"https://laohu8.com/S/MID\">$(MID)$</a> and the S&amp;P Small Cap 600 Index ), bank stocks are trading relatively cheaply:</p><p><blockquote>全面审视标准普尔1500综合指数（由大盘股标普500、标准普尔400中型股指数组成）的远期市盈率估值<a href=\"https://laohu8.com/S/MID\">$（中）$</a>和标准普尔小型股600指数），银行股的交易价格相对便宜：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a946082652a25758da307be6e41499\" tg-width=\"700\" tg-height=\"507\" width=\"100%\" height=\"auto\"><span>FACTSET</span></p><p><blockquote><p class=\"t-img-caption\"><span>FACTSET</span></p></blockquote></p><p> The S&amp;P 1500 bank industry group trades at a price-to-earnings ratio of 12.6, based on weighted consensus price-to-earnings estimates for the next 12 months among analysts polled by FactSet. The full S&amp;P 1500 Composite Index trades at a forward P/E of 20.5. The average forward P/E for the banks over the past 15 years has been 12.5, while the average forward P/E for the full index has been 15.4.</p><p><blockquote>根据FactSet调查的分析师对未来12个月的加权一致市盈率预期，标准普尔1500银行行业集团的市盈率为12.6。整个标准普尔1500综合指数的远期市盈率为20.5。过去15年，银行的平均远期市盈率为12.5，而整个指数的平均远期市盈率为15.4。</blockquote></p><p> So the banks now trade for 61% of the S&amp;P 1500's forward P/E valuation, while they have traded for 81% on average.</p><p><blockquote>因此，银行现在的交易价格是标准普尔1500指数远期市盈率估值的61%，而它们的平均交易价格是81%。</blockquote></p><p> And that is despite the banks' outperformance this year, returning 34%, while the S&amp;P Composite 1500 has returned 20%.</p><p><blockquote>尽管银行今年表现出色，回报率为34%，而标准普尔综合1500指数的回报率为20%。</blockquote></p><p> A coming slowdown of bond purchases by the Federal Reserve is expected to push long-term interest rates higher, which for most banks will mean increased profitability, with wider spreads between rates on loans and those paid on deposits. The market has been anticipating the Fed's change in policy, pushing yields on 10-year U.S. Treasury notes to 1.49% early on Sept. 27 from 1.31% on Sept. 20.</p><p><blockquote>美联储即将放缓的债券购买预计将推高长期利率，这对大多数银行来说意味着盈利能力的提高，贷款利率和存款利率之间的利差将扩大。市场一直在预期美联储的政策变化，将10年期美国国债收益率从9月20日的1.31%推高至9月27日早些时候的1.49%。</blockquote></p><p> <b>Bank-stock screen -- return on common equity</b></p><p><blockquote><b>银行-股票屏幕-普通股股本回报率</b></blockquote></p><p> While Subramanian emphasized small-cap stocks, it seems reasonable to look at all bank stocks and find the ones with the best average returns on common equity. A screen on ROCE can work well within an industry such as banking, because the banks are required to hold minimum levels of capital, including common equity, by regulators. In other industries you may have healthy profitable companies that have negative equity. An example is McDonald's Corp. <a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>, which had negative total shareholders' equity of $5.8 billion as of June 30.</p><p><blockquote>虽然萨勃拉曼尼亚强调小盘股，但观察所有银行股并找到普通股平均回报率最佳的银行股似乎是合理的。ROCE筛选在银行业等行业中可以很好地发挥作用，因为监管机构要求银行持有最低水平的资本，包括普通股。在其他行业，你可能有健康盈利的公司，但却有负资产。麦当劳公司就是一个例子。<a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>截至6月30日，该公司的股东权益总额为负58亿美元。</blockquote></p><p> It also makes sense to include large banks in our screen because the biggest and most complex U.S. banks are required by regulators to hold more capital than smaller banks. If a big bank make makes the list, so be it: Its ROCE denominator is larger, so it has more of a hill to climb.</p><p><blockquote>将大型银行纳入我们的屏幕也是有意义的，因为监管机构要求美国最大、最复杂的银行比小型银行持有更多的资本。如果一家大型银行上榜，那就这样吧：它的ROCE分母更大，因此它有更多的山要爬。</blockquote></p><p> Starting with the Russell 3000 Index, which represents about 98% of U.S. stocks by market capitalization, we identified 229 banks. This includes some companies that are investment banks and/or brokers. The determining factor for a company such as Charles Schwab Corp. <a href=\"https://laohu8.com/S/SCHW\">$(SCHW)$</a>, for example, is whether of not it files a bank or savings and loan holding company report with the Federal Reserve. If it does, it means the company is gathering deposits insured by the FDIC. Schwab does so through its subsidiary, Charles Schwab Bank SSB.</p><p><blockquote>从代表市值约98%的美国股票的罗素3000指数开始，我们确定了229家银行。这包括一些投资银行和/或经纪人公司。像查尔斯·施瓦布公司这样的公司的决定性因素。<a href=\"https://laohu8.com/S/SCHW\">$(SCHW)$</a>例如，它是否向美联储提交银行或储蓄和贷款控股公司报告。如果确实如此，这意味着该公司正在收集由FDIC承保的存款。嘉信理财通过其子公司嘉信理财银行SSB实现这一目标。</blockquote></p><p> Looking back over the past 20 reported quarters through June 30, here are the 20 banks with the highest average returns on common equity. The list is limited to U.S. banks for which the data is available from FactSet for all of those quarters.</p><p><blockquote>回顾截至6月30日的过去20个报告季度，以下是普通股平均回报率最高的20家银行。该列表仅限于FactSet提供所有这些季度数据的美国银行。</blockquote></p><p></p><p> <table>  <tbody>   <tr>    <td>Company</td>    <td>City</td>    <td>Market cap. ($mil)</td>    <td>Average ROCE -- 20 quarters</td>    <td>Total return -- 5 years</td>   </tr>   <tr>    <td>Ameriprise Financial Inc. AMP</td>    <td>Minneapolis</td>    <td>$30,871</td>    <td>27.66%</td>    <td>208%</td>   </tr>   <tr>    <td>American Express Co. AXP</td>    <td>New York</td>    <td>$139,598</td>    <td>22.95%</td>    <td>197%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/MCBS\">MetroCity Bankshares Inc</a>. MCBS</td>    <td>Doraville, Ga.</td>    <td>$530</td>    <td>22.80%</td>    <td>434%</td>   </tr>   <tr>    <td>Discover Financial Services DFS</td>    <td>Riverwoods, Ill.</td>    <td>$38,934</td>    <td>22.58%</td>    <td>153%</td>   </tr>   <tr>    <td>ServisFirst Bancshares Inc. SFBS</td>    <td>Birmingham, Ala.</td>    <td>$4,176</td>    <td>18.32%</td>    <td>216%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/SYF\">Synchrony Financial</a> SYF</td>    <td>Stamford, Conn.</td>    <td>$28,616</td>    <td>18.07%</td>    <td>108%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/AXO\">Axos Financial Inc</a>. AX</td>    <td>Las Vegas</td>    <td>$2,769</td>    <td>16.82%</td>    <td>108%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/SIVBO\">SVB Financial Group</a> SIVB</td>    <td>Santa Clara, Calif.</td>    <td>$38,129</td>    <td>16.63%</td>    <td>493%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/WAL\">Western Alliance Bancorp</a> WAL</td>    <td>Phoenix</td>    <td>$10,740</td>    <td>16.61%</td>    <td>188%</td>   </tr>   <tr>    <td>Hingham Institution for Savings HIFS</td>    <td>Hingham, Mass.</td>    <td>$738</td>    <td>16.46%</td>    <td>168%</td>   </tr>   <tr>    <td>Bank of Hawaii Corp. BOH</td>    <td>Honolulu</td>    <td>$3,301</td>    <td>15.64%</td>    <td>30%</td>   </tr>   <tr>    <td>Charles Schwab Corp. SCHW</td>    <td>Austin, Texas</td>    <td>$136,720</td>    <td>15.38%</td>    <td>162%</td>   </tr>   <tr>    <td>Preferred Bank PFBC</td>    <td>Los Angeles</td>    <td>$982</td>    <td>15.33%</td>    <td>106%</td>   </tr>   <tr>    <td>West Bancorp Inc. WTBA</td>    <td>West Des Moines, Iowa</td>    <td>$488</td>    <td>14.85%</td>    <td>74%</td>   </tr>   <tr>    <td>Stock Yards Bancorp Inc. SYBT</td>    <td>Louisville, Ky.</td>    <td>$1,468</td>    <td>14.35%</td>    <td>90%</td>   </tr>   <tr>    <td>Lakeland Financial Corp. LKFN</td>    <td>Warsaw, Ind.</td>    <td>$1,691</td>    <td>14.18%</td>    <td>110%</td>   </tr>   <tr>    <td>Flagstar Bancorp Inc. FBC</td>    <td>Troy, Mich.</td>    <td>$2,647</td>    <td>14.10%</td>    <td>83%</td>   </tr>   <tr>    <td>East West Bancorp Inc. EWBC</td>    <td>Pasadena, Calif.</td>    <td>$10,669</td>    <td>14.01%</td>    <td>127%</td>   </tr>   <tr>    <td>First Financial Bankshares Inc. FFIN</td>    <td>Abilene, Texas</td>    <td>$6,402</td>    <td>13.76%</td>    <td>165%</td>   </tr>   <tr>    <td>Raymond James Financial Inc. RJF</td>    <td>St. Petersburg, Fla.</td>    <td>$19,165</td>    <td>13.71%</td>    <td>160%</td>   </tr>   <tr>    <td>Source: FactSet</td>    <td></td>    <td></td>    <td></td>    <td></td>   </tr>  </tbody> </table> Click on the tickers for more about each bank. The MarketWatch quote page can be an excellent start for your own research. Click here for Tomi Kilgore's new, detailed guide to the wealth of information available for free on the quote page.</p><p><blockquote><table><tbody><tr><td>公司</td><td>城市</td><td>市值。（百万美元）</td><td>平均ROCE——20个季度</td><td>总回报--5年</td></tr><tr><td>Ameriprise金融公司AMP</td><td>明尼阿波利斯</td><td>$30,871</td><td>27.66%</td><td>208%</td></tr><tr><td>美国运通公司AXP</td><td>纽约</td><td>$139,598</td><td>22.95%</td><td>197%</td></tr><tr><td><a href=\"https://laohu8.com/S/MCBS\">大都会银行股份公司</a>.MCBS</td><td>佐治亚州多拉维尔。</td><td>$530</td><td>22.80%</td><td>434%</td></tr><tr><td>探索金融服务DFS</td><td>伊利诺伊州里弗伍兹。</td><td>$38,934</td><td>22.58%</td><td>153%</td></tr><tr><td>ServisFirst Bancshares Inc.SFBS</td><td>阿拉巴马州伯明翰。</td><td>$4,176</td><td>18.32%</td><td>216%</td></tr><tr><td><a href=\"https://laohu8.com/S/SYF\">同步金融</a>SYF</td><td>康涅狄格州斯坦福德。</td><td>$28,616</td><td>18.07%</td><td>108%</td></tr><tr><td><a href=\"https://laohu8.com/S/AXO\">Axos金融公司</a>.斧头</td><td>拉斯维加斯</td><td>$2,769</td><td>16.82%</td><td>108%</td></tr><tr><td><a href=\"https://laohu8.com/S/SIVBO\">SVB金融集团</a>SIVB</td><td>加利福尼亚州圣克拉拉。</td><td>$38,129</td><td>16.63%</td><td>493%</td></tr><tr><td><a href=\"https://laohu8.com/S/WAL\">西部联盟银行</a>沃尔</td><td>凤凰</td><td>$10,740</td><td>16.61%</td><td>188%</td></tr><tr><td>欣厄姆储蓄机构HIFS</td><td>马萨诸塞州欣厄姆。</td><td>$738</td><td>16.46%</td><td>168%</td></tr><tr><td>夏威夷银行BOH</td><td>檀香山</td><td>$3,301</td><td>15.64%</td><td>30%</td></tr><tr><td>嘉信理财公司SCHW</td><td>德克萨斯州奥斯汀</td><td>$136,720</td><td>15.38%</td><td>162%</td></tr><tr><td>首选银行PFBC</td><td>洛杉矶</td><td>$982</td><td>15.33%</td><td>106%</td></tr><tr><td>西部银行公司WTBA</td><td>爱荷华州西得梅因</td><td>$488</td><td>14.85%</td><td>74%</td></tr><tr><td>库存码银行公司SYBT</td><td>肯塔基州路易斯维尔。</td><td>$1,468</td><td>14.35%</td><td>90%</td></tr><tr><td>莱克兰金融公司LKFN</td><td>印第安纳州华沙。</td><td>$1,691</td><td>14.18%</td><td>110%</td></tr><tr><td>Flagstar银行公司FBC</td><td>密歇根州特洛伊。</td><td>$2,647</td><td>14.10%</td><td>83%</td></tr><tr><td>华美银行EWBC</td><td>加利福尼亚州帕萨迪纳。</td><td>$10,669</td><td>14.01%</td><td>127%</td></tr><tr><td>第一金融银行股份公司FFIN</td><td>德克萨斯州阿比林</td><td>$6,402</td><td>13.76%</td><td>165%</td></tr><tr><td>雷蒙德·詹姆斯金融公司RJF</td><td>佛罗里达州圣彼得堡。</td><td>$19,165</td><td>13.71%</td><td>160%</td></tr><tr><td>来源：FactSet</td><td></td><td></td><td></td><td></td></tr></tbody></table>单击股票代码了解有关每家银行的更多信息。MarketWatch报价页面可以成为您自己研究的良好开端。单击此处获取孙铁麟·基尔戈(Tomi Kilgore)的新详细指南，了解报价页面上免费提供的大量信息。</blockquote></p><p> You can see that most of the banks on the list are relatively small, backing Subramanian's preference for small-caps. But American Express Co.&nbsp;made the list, along with Schwab and credit card players Discover Financial Services&nbsp;and Synchrony Financial (SYF).</p><p><blockquote>你可以看到名单上的大多数银行都相对较小，这支持了萨勃拉曼尼亚对小盘股的偏好。但美国运通公司、嘉信理财和信用卡公司Discover Financial Services和Synchrony Financial(SYF)上榜。</blockquote></p><p> The right-most column contains total returns, with dividends reinvested, for the past five years through Sept. 24. In comparison, the S&amp;P 1500 banking industry group returned 124% and the S&amp;P Composite 1500 returned 111% over the same period.</p><p><blockquote>最右边的一栏包含截至9月24日的过去五年的总回报（包括股息再投资）。相比之下，同期标准普尔1500银行业集团的回报率为124%，标准普尔综合1500指数的回报率为111%。</blockquote></p><p> <b>Analysts' price targets</b></p><p><blockquote><b>分析师的价格目标</b></blockquote></p><p> Here's the list again, in the same order, with a summary of analysts' opinions, dividend yields and forward P/E ratios:</p><p><blockquote>以下是该列表，按相同顺序，总结了分析师的意见、股息收益率和远期市盈率：</blockquote></p><p></p><p> <table>  <tbody>   <tr>    <td>Company</td>    <td>Share \"buy\" ratings</td>    <td>Closing price -- Sept. 24</td>    <td>Consensus price target</td>    <td>Implied 12-month upside potential</td>    <td>Dividend yield</td>    <td>Forward P/E</td>   </tr>   <tr>    <td>Ameriprise Financial Inc. AMP</td>    <td>77%</td>    <td>$271.40</td>    <td>$292.50</td>    <td>8%</td>    <td>1.67%</td>    <td>11.9</td>   </tr>   <tr>    <td>American Express Co. AXP</td>    <td>45%</td>    <td>$175.72</td>    <td>$182.35</td>    <td>4%</td>    <td>0.98%</td>    <td>22.4</td>   </tr>   <tr>    <td>MetroCity Bankshares Inc. MCBS</td>    <td>0%</td>    <td>$20.80</td>    <td>$22.50</td>    <td>8%</td>    <td>2.31%</td>    <td>8.2</td>   </tr>   <tr>    <td>Discover Financial Services DFS</td>    <td>54%</td>    <td>$130.01</td>    <td>$136.22</td>    <td>5%</td>    <td>1.54%</td>    <td>10.4</td>   </tr>   <tr>    <td>ServisFirst Bancshares Inc. SFBS</td>    <td>0%</td>    <td>$77.05</td>    <td>$70.33</td>    <td>-9%</td>    <td>1.04%</td>    <td>20.4</td>   </tr>   <tr>    <td>Synchrony Financial SYF</td>    <td>77%</td>    <td>$50.23</td>    <td>$57.21</td>    <td>14%</td>    <td>1.75%</td>    <td>8.9</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/AX\">Axos Financial Inc</a>. AX</td>    <td>88%</td>    <td>$46.65</td>    <td>$56.00</td>    <td>20%</td>    <td>0.00%</td>    <td>13.0</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/SIVBP\">SVB Financial Group</a> SIVB</td>    <td>61%</td>    <td>$649.96</td>    <td>$671.65</td>    <td>3%</td>    <td>0.00%</td>    <td>26.0</td>   </tr>   <tr>    <td>Western Alliance Bancorp WAL</td>    <td>92%</td>    <td>$103.07</td>    <td>$120.42</td>    <td>17%</td>    <td>1.36%</td>    <td>11.6</td>   </tr>   <tr>    <td>Hingham Institution for Savings HIFS</td>    <td>N/A</td>    <td>N/A</td>    <td>N/A</td>    <td>N/A</td>    <td>0.59%</td>    <td>N/A</td>   </tr>   <tr>    <td>Bank of Hawaii Corp. BOH</td>    <td>17%</td>    <td>$81.55</td>    <td>$90.80</td>    <td>11%</td>    <td>3.43%</td>    <td>15.9</td>   </tr>   <tr>    <td>Charles Schwab Corp. SCHW</td>    <td>63%</td>    <td>$75.59</td>    <td>$83.83</td>    <td>11%</td>    <td>0.95%</td>    <td>23.0</td>   </tr>   <tr>    <td>Preferred Bank PFBC</td>    <td>50%</td>    <td>$65.91</td>    <td>$73.00</td>    <td>11%</td>    <td>2.31%</td>    <td>10.4</td>   </tr>   <tr>    <td>West Bancorp Inc. WTBA</td>    <td>0%</td>    <td>$29.48</td>    <td>$32.00</td>    <td>9%</td>    <td>3.26%</td>    <td>10.8</td>   </tr>   <tr>    <td>Stock Yards Bancorp Inc. SYBT</td>    <td>25%</td>    <td>$55.23</td>    <td>$54.33</td>    <td>-2%</td>    <td>2.03%</td>    <td>17.8</td>   </tr>   <tr>    <td>Lakeland Financial Corp. LKFN</td>    <td>0%</td>    <td>$66.83</td>    <td>$63.67</td>    <td>-5%</td>    <td>2.04%</td>    <td>18.2</td>   </tr>   <tr>    <td>Flagstar Bancorp Inc. FBC</td>    <td>60%</td>    <td>$50.08</td>    <td>$62.75</td>    <td>25%</td>    <td>0.48%</td>    <td>7.8</td>   </tr>   <tr>    <td>East West Bancorp Inc. EWBC</td>    <td>83%</td>    <td>$75.20</td>    <td>$90.91</td>    <td>21%</td>    <td>1.76%</td>    <td>12.6</td>   </tr>   <tr>    <td>First Financial Bankshares Inc. FFIN</td>    <td>0%</td>    <td>$44.97</td>    <td>$45.33</td>    <td>1%</td>    <td>1.33%</td>    <td>30.3</td>   </tr>   <tr>    <td>Raymond James Financial Inc. RJF</td>    <td>82%</td>    <td>$93.13</td>    <td>$106.79</td>    <td>15%</td>    <td>1.12%</td>    <td>14.2</td>   </tr>   <tr>    <td>Source: FactSet</td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>   </tr>  </tbody> </table> </p><p><blockquote><table><tbody><tr><td>公司</td><td>分享“买入”评级</td><td>收盘价——9月24日</td><td>共识价格目标</td><td>隐含的12个月上涨潜力</td><td>股息率</td><td>远期市盈率</td></tr><tr><td>Ameriprise金融公司AMP</td><td>77%</td><td>$271.40</td><td>$292.50</td><td>8%</td><td>1.67%</td><td>11.9</td></tr><tr><td>美国运通公司AXP</td><td>45%</td><td>$175.72</td><td>$182.35</td><td>4%</td><td>0.98%</td><td>22.4</td></tr><tr><td>大都会银行股份公司MCBS</td><td>0%</td><td>$20.80</td><td>$22.50</td><td>8%</td><td>2.31%</td><td>8.2</td></tr><tr><td>探索金融服务DFS</td><td>54%</td><td>$130.01</td><td>$136.22</td><td>5%</td><td>1.54%</td><td>10.4</td></tr><tr><td>ServisFirst Bancshares Inc.SFBS</td><td>0%</td><td>$77.05</td><td>$70.33</td><td>-9%</td><td>1.04%</td><td>20.4</td></tr><tr><td>同步金融SYF</td><td>77%</td><td>$50.23</td><td>$57.21</td><td>14%</td><td>1.75%</td><td>8.9</td></tr><tr><td><a href=\"https://laohu8.com/S/AX\">Axos金融公司</a>.斧头</td><td>88%</td><td>$46.65</td><td>$56.00</td><td>20%</td><td>0.00%</td><td>13.0</td></tr><tr><td><a href=\"https://laohu8.com/S/SIVBP\">SVB金融集团</a>SIVB</td><td>61%</td><td>$649.96</td><td>$671.65</td><td>3%</td><td>0.00%</td><td>26.0</td></tr><tr><td>西部联盟银行WAL</td><td>92%</td><td>$103.07</td><td>$120.42</td><td>17%</td><td>1.36%</td><td>11.6</td></tr><tr><td>欣厄姆储蓄机构HIFS</td><td>N/A</td><td>N/A</td><td>N/A</td><td>N/A</td><td>0.59%</td><td>N/A</td></tr><tr><td>夏威夷银行BOH</td><td>17%</td><td>$81.55</td><td>$90.80</td><td>11%</td><td>3.43%</td><td>15.9</td></tr><tr><td>嘉信理财公司SCHW</td><td>63%</td><td>$75.59</td><td>$83.83</td><td>11%</td><td>0.95%</td><td>23.0</td></tr><tr><td>首选银行PFBC</td><td>50%</td><td>$65.91</td><td>$73.00</td><td>11%</td><td>2.31%</td><td>10.4</td></tr><tr><td>西部银行公司WTBA</td><td>0%</td><td>$29.48</td><td>$32.00</td><td>9%</td><td>3.26%</td><td>10.8</td></tr><tr><td>库存码银行公司SYBT</td><td>25%</td><td>$55.23</td><td>$54.33</td><td>-2%</td><td>2.03%</td><td>17.8</td></tr><tr><td>莱克兰金融公司LKFN</td><td>0%</td><td>$66.83</td><td>$63.67</td><td>-5%</td><td>2.04%</td><td>18.2</td></tr><tr><td>Flagstar银行公司FBC</td><td>60%</td><td>$50.08</td><td>$62.75</td><td>25%</td><td>0.48%</td><td>7.8</td></tr><tr><td>华美银行EWBC</td><td>83%</td><td>$75.20</td><td>$90.91</td><td>21%</td><td>1.76%</td><td>12.6</td></tr><tr><td>第一金融银行股份公司FFIN</td><td>0%</td><td>$44.97</td><td>$45.33</td><td>1%</td><td>1.33%</td><td>30.3</td></tr><tr><td>雷蒙德·詹姆斯金融公司RJF</td><td>82%</td><td>$93.13</td><td>$106.79</td><td>15%</td><td>1.12%</td><td>14.2</td></tr><tr><td>来源：FactSet</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></tbody></table></blockquote></p><p></p>","source":"lsy1603348471595","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>Bank stocks are cheap -- here are the 20 best players in the industry<blockquote>银行股很便宜——以下是业内20只最好的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBank stocks are cheap -- here are the 20 best players in the industry<blockquote>银行股很便宜——以下是业内20只最好的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-27 22:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Bank stocks have soared during 2021, but are still trading lower than usual to the market as a whole</p><p><blockquote>银行股在2021年飙升，但整体市场交易价格仍低于平时</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f684a94a59b066b5c5fddf327b6be10\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>BLOOMBERG</span></p><p><blockquote><p class=\"t-img-caption\"><span>彭博社</span></p></blockquote></p><p> Bank stocks have had a good run in 2021, but they still lag behind the broader market's recovery since the pandemic doldrums of 2020. And now that the Federal Reserve seems likely to allow interest rates to rise soon, the banks may have an easier time improving their profits.</p><p><blockquote>银行股在2021年表现良好，但自2020年疫情低迷以来，它们仍落后于大盘的复苏。现在美联储似乎可能很快允许利率上升，银行可能会更容易提高利润。</blockquote></p><p> Below is a list of the best-performing U.S. banks over the past five years, based on returns on common equity.</p><p><blockquote>以下是根据普通股回报率列出的过去五年表现最佳的美国银行名单。</blockquote></p><p> During her recent discussion of stock-market strategy on CNBC, Savita Subramanian, the head of U.S. equity and quantitative strategy at Bank of America, said that small-cap stocks, especially energy and financial companies, were trading at compelling valuations and could give investors \"more earnings yield for the same price.\"</p><p><blockquote>美国银行美国股票和量化策略主管萨维塔·萨勃拉曼尼亚(Savita Subramanian)最近在CNBC上讨论股市策略时表示，小盘股，尤其是能源和金融公司的估值令人信服，可能会给投资者带来“相同价格的更高收益率”。</blockquote></p><p> Here's a recent screen of energy stocks.</p><p><blockquote>这是最近能源股的屏幕。</blockquote></p><p> <b>Low valuations</b></p><p><blockquote><b>低估值</b></blockquote></p><p> Taking a broad look at forward price-to-earning valuations for the S&amp;P 1500 Composite Index (made up of the large-cap S&amp;P 500 , the S&amp;P 400 Mid Cap Index <a href=\"https://laohu8.com/S/MID\">$(MID)$</a> and the S&amp;P Small Cap 600 Index ), bank stocks are trading relatively cheaply:</p><p><blockquote>全面审视标准普尔1500综合指数（由大盘股标普500、标准普尔400中型股指数组成）的远期市盈率估值<a href=\"https://laohu8.com/S/MID\">$（中）$</a>和标准普尔小型股600指数），银行股的交易价格相对便宜：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a946082652a25758da307be6e41499\" tg-width=\"700\" tg-height=\"507\" width=\"100%\" height=\"auto\"><span>FACTSET</span></p><p><blockquote><p class=\"t-img-caption\"><span>FACTSET</span></p></blockquote></p><p> The S&amp;P 1500 bank industry group trades at a price-to-earnings ratio of 12.6, based on weighted consensus price-to-earnings estimates for the next 12 months among analysts polled by FactSet. The full S&amp;P 1500 Composite Index trades at a forward P/E of 20.5. The average forward P/E for the banks over the past 15 years has been 12.5, while the average forward P/E for the full index has been 15.4.</p><p><blockquote>根据FactSet调查的分析师对未来12个月的加权一致市盈率预期，标准普尔1500银行行业集团的市盈率为12.6。整个标准普尔1500综合指数的远期市盈率为20.5。过去15年，银行的平均远期市盈率为12.5，而整个指数的平均远期市盈率为15.4。</blockquote></p><p> So the banks now trade for 61% of the S&amp;P 1500's forward P/E valuation, while they have traded for 81% on average.</p><p><blockquote>因此，银行现在的交易价格是标准普尔1500指数远期市盈率估值的61%，而它们的平均交易价格是81%。</blockquote></p><p> And that is despite the banks' outperformance this year, returning 34%, while the S&amp;P Composite 1500 has returned 20%.</p><p><blockquote>尽管银行今年表现出色，回报率为34%，而标准普尔综合1500指数的回报率为20%。</blockquote></p><p> A coming slowdown of bond purchases by the Federal Reserve is expected to push long-term interest rates higher, which for most banks will mean increased profitability, with wider spreads between rates on loans and those paid on deposits. The market has been anticipating the Fed's change in policy, pushing yields on 10-year U.S. Treasury notes to 1.49% early on Sept. 27 from 1.31% on Sept. 20.</p><p><blockquote>美联储即将放缓的债券购买预计将推高长期利率，这对大多数银行来说意味着盈利能力的提高，贷款利率和存款利率之间的利差将扩大。市场一直在预期美联储的政策变化，将10年期美国国债收益率从9月20日的1.31%推高至9月27日早些时候的1.49%。</blockquote></p><p> <b>Bank-stock screen -- return on common equity</b></p><p><blockquote><b>银行-股票屏幕-普通股股本回报率</b></blockquote></p><p> While Subramanian emphasized small-cap stocks, it seems reasonable to look at all bank stocks and find the ones with the best average returns on common equity. A screen on ROCE can work well within an industry such as banking, because the banks are required to hold minimum levels of capital, including common equity, by regulators. In other industries you may have healthy profitable companies that have negative equity. An example is McDonald's Corp. <a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>, which had negative total shareholders' equity of $5.8 billion as of June 30.</p><p><blockquote>虽然萨勃拉曼尼亚强调小盘股，但观察所有银行股并找到普通股平均回报率最佳的银行股似乎是合理的。ROCE筛选在银行业等行业中可以很好地发挥作用，因为监管机构要求银行持有最低水平的资本，包括普通股。在其他行业，你可能有健康盈利的公司，但却有负资产。麦当劳公司就是一个例子。<a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>截至6月30日，该公司的股东权益总额为负58亿美元。</blockquote></p><p> It also makes sense to include large banks in our screen because the biggest and most complex U.S. banks are required by regulators to hold more capital than smaller banks. If a big bank make makes the list, so be it: Its ROCE denominator is larger, so it has more of a hill to climb.</p><p><blockquote>将大型银行纳入我们的屏幕也是有意义的，因为监管机构要求美国最大、最复杂的银行比小型银行持有更多的资本。如果一家大型银行上榜，那就这样吧：它的ROCE分母更大，因此它有更多的山要爬。</blockquote></p><p> Starting with the Russell 3000 Index, which represents about 98% of U.S. stocks by market capitalization, we identified 229 banks. This includes some companies that are investment banks and/or brokers. The determining factor for a company such as Charles Schwab Corp. <a href=\"https://laohu8.com/S/SCHW\">$(SCHW)$</a>, for example, is whether of not it files a bank or savings and loan holding company report with the Federal Reserve. If it does, it means the company is gathering deposits insured by the FDIC. Schwab does so through its subsidiary, Charles Schwab Bank SSB.</p><p><blockquote>从代表市值约98%的美国股票的罗素3000指数开始，我们确定了229家银行。这包括一些投资银行和/或经纪人公司。像查尔斯·施瓦布公司这样的公司的决定性因素。<a href=\"https://laohu8.com/S/SCHW\">$(SCHW)$</a>例如，它是否向美联储提交银行或储蓄和贷款控股公司报告。如果确实如此，这意味着该公司正在收集由FDIC承保的存款。嘉信理财通过其子公司嘉信理财银行SSB实现这一目标。</blockquote></p><p> Looking back over the past 20 reported quarters through June 30, here are the 20 banks with the highest average returns on common equity. The list is limited to U.S. banks for which the data is available from FactSet for all of those quarters.</p><p><blockquote>回顾截至6月30日的过去20个报告季度，以下是普通股平均回报率最高的20家银行。该列表仅限于FactSet提供所有这些季度数据的美国银行。</blockquote></p><p></p><p> <table>  <tbody>   <tr>    <td>Company</td>    <td>City</td>    <td>Market cap. ($mil)</td>    <td>Average ROCE -- 20 quarters</td>    <td>Total return -- 5 years</td>   </tr>   <tr>    <td>Ameriprise Financial Inc. AMP</td>    <td>Minneapolis</td>    <td>$30,871</td>    <td>27.66%</td>    <td>208%</td>   </tr>   <tr>    <td>American Express Co. AXP</td>    <td>New York</td>    <td>$139,598</td>    <td>22.95%</td>    <td>197%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/MCBS\">MetroCity Bankshares Inc</a>. MCBS</td>    <td>Doraville, Ga.</td>    <td>$530</td>    <td>22.80%</td>    <td>434%</td>   </tr>   <tr>    <td>Discover Financial Services DFS</td>    <td>Riverwoods, Ill.</td>    <td>$38,934</td>    <td>22.58%</td>    <td>153%</td>   </tr>   <tr>    <td>ServisFirst Bancshares Inc. SFBS</td>    <td>Birmingham, Ala.</td>    <td>$4,176</td>    <td>18.32%</td>    <td>216%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/SYF\">Synchrony Financial</a> SYF</td>    <td>Stamford, Conn.</td>    <td>$28,616</td>    <td>18.07%</td>    <td>108%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/AXO\">Axos Financial Inc</a>. AX</td>    <td>Las Vegas</td>    <td>$2,769</td>    <td>16.82%</td>    <td>108%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/SIVBO\">SVB Financial Group</a> SIVB</td>    <td>Santa Clara, Calif.</td>    <td>$38,129</td>    <td>16.63%</td>    <td>493%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/WAL\">Western Alliance Bancorp</a> WAL</td>    <td>Phoenix</td>    <td>$10,740</td>    <td>16.61%</td>    <td>188%</td>   </tr>   <tr>    <td>Hingham Institution for Savings HIFS</td>    <td>Hingham, Mass.</td>    <td>$738</td>    <td>16.46%</td>    <td>168%</td>   </tr>   <tr>    <td>Bank of Hawaii Corp. BOH</td>    <td>Honolulu</td>    <td>$3,301</td>    <td>15.64%</td>    <td>30%</td>   </tr>   <tr>    <td>Charles Schwab Corp. SCHW</td>    <td>Austin, Texas</td>    <td>$136,720</td>    <td>15.38%</td>    <td>162%</td>   </tr>   <tr>    <td>Preferred Bank PFBC</td>    <td>Los Angeles</td>    <td>$982</td>    <td>15.33%</td>    <td>106%</td>   </tr>   <tr>    <td>West Bancorp Inc. WTBA</td>    <td>West Des Moines, Iowa</td>    <td>$488</td>    <td>14.85%</td>    <td>74%</td>   </tr>   <tr>    <td>Stock Yards Bancorp Inc. SYBT</td>    <td>Louisville, Ky.</td>    <td>$1,468</td>    <td>14.35%</td>    <td>90%</td>   </tr>   <tr>    <td>Lakeland Financial Corp. LKFN</td>    <td>Warsaw, Ind.</td>    <td>$1,691</td>    <td>14.18%</td>    <td>110%</td>   </tr>   <tr>    <td>Flagstar Bancorp Inc. FBC</td>    <td>Troy, Mich.</td>    <td>$2,647</td>    <td>14.10%</td>    <td>83%</td>   </tr>   <tr>    <td>East West Bancorp Inc. EWBC</td>    <td>Pasadena, Calif.</td>    <td>$10,669</td>    <td>14.01%</td>    <td>127%</td>   </tr>   <tr>    <td>First Financial Bankshares Inc. FFIN</td>    <td>Abilene, Texas</td>    <td>$6,402</td>    <td>13.76%</td>    <td>165%</td>   </tr>   <tr>    <td>Raymond James Financial Inc. RJF</td>    <td>St. Petersburg, Fla.</td>    <td>$19,165</td>    <td>13.71%</td>    <td>160%</td>   </tr>   <tr>    <td>Source: FactSet</td>    <td></td>    <td></td>    <td></td>    <td></td>   </tr>  </tbody> </table> Click on the tickers for more about each bank. The MarketWatch quote page can be an excellent start for your own research. Click here for Tomi Kilgore's new, detailed guide to the wealth of information available for free on the quote page.</p><p><blockquote><table><tbody><tr><td>公司</td><td>城市</td><td>市值。（百万美元）</td><td>平均ROCE——20个季度</td><td>总回报--5年</td></tr><tr><td>Ameriprise金融公司AMP</td><td>明尼阿波利斯</td><td>$30,871</td><td>27.66%</td><td>208%</td></tr><tr><td>美国运通公司AXP</td><td>纽约</td><td>$139,598</td><td>22.95%</td><td>197%</td></tr><tr><td><a href=\"https://laohu8.com/S/MCBS\">大都会银行股份公司</a>.MCBS</td><td>佐治亚州多拉维尔。</td><td>$530</td><td>22.80%</td><td>434%</td></tr><tr><td>探索金融服务DFS</td><td>伊利诺伊州里弗伍兹。</td><td>$38,934</td><td>22.58%</td><td>153%</td></tr><tr><td>ServisFirst Bancshares Inc.SFBS</td><td>阿拉巴马州伯明翰。</td><td>$4,176</td><td>18.32%</td><td>216%</td></tr><tr><td><a href=\"https://laohu8.com/S/SYF\">同步金融</a>SYF</td><td>康涅狄格州斯坦福德。</td><td>$28,616</td><td>18.07%</td><td>108%</td></tr><tr><td><a href=\"https://laohu8.com/S/AXO\">Axos金融公司</a>.斧头</td><td>拉斯维加斯</td><td>$2,769</td><td>16.82%</td><td>108%</td></tr><tr><td><a href=\"https://laohu8.com/S/SIVBO\">SVB金融集团</a>SIVB</td><td>加利福尼亚州圣克拉拉。</td><td>$38,129</td><td>16.63%</td><td>493%</td></tr><tr><td><a href=\"https://laohu8.com/S/WAL\">西部联盟银行</a>沃尔</td><td>凤凰</td><td>$10,740</td><td>16.61%</td><td>188%</td></tr><tr><td>欣厄姆储蓄机构HIFS</td><td>马萨诸塞州欣厄姆。</td><td>$738</td><td>16.46%</td><td>168%</td></tr><tr><td>夏威夷银行BOH</td><td>檀香山</td><td>$3,301</td><td>15.64%</td><td>30%</td></tr><tr><td>嘉信理财公司SCHW</td><td>德克萨斯州奥斯汀</td><td>$136,720</td><td>15.38%</td><td>162%</td></tr><tr><td>首选银行PFBC</td><td>洛杉矶</td><td>$982</td><td>15.33%</td><td>106%</td></tr><tr><td>西部银行公司WTBA</td><td>爱荷华州西得梅因</td><td>$488</td><td>14.85%</td><td>74%</td></tr><tr><td>库存码银行公司SYBT</td><td>肯塔基州路易斯维尔。</td><td>$1,468</td><td>14.35%</td><td>90%</td></tr><tr><td>莱克兰金融公司LKFN</td><td>印第安纳州华沙。</td><td>$1,691</td><td>14.18%</td><td>110%</td></tr><tr><td>Flagstar银行公司FBC</td><td>密歇根州特洛伊。</td><td>$2,647</td><td>14.10%</td><td>83%</td></tr><tr><td>华美银行EWBC</td><td>加利福尼亚州帕萨迪纳。</td><td>$10,669</td><td>14.01%</td><td>127%</td></tr><tr><td>第一金融银行股份公司FFIN</td><td>德克萨斯州阿比林</td><td>$6,402</td><td>13.76%</td><td>165%</td></tr><tr><td>雷蒙德·詹姆斯金融公司RJF</td><td>佛罗里达州圣彼得堡。</td><td>$19,165</td><td>13.71%</td><td>160%</td></tr><tr><td>来源：FactSet</td><td></td><td></td><td></td><td></td></tr></tbody></table>单击股票代码了解有关每家银行的更多信息。MarketWatch报价页面可以成为您自己研究的良好开端。单击此处获取孙铁麟·基尔戈(Tomi Kilgore)的新详细指南，了解报价页面上免费提供的大量信息。</blockquote></p><p> You can see that most of the banks on the list are relatively small, backing Subramanian's preference for small-caps. But American Express Co.&nbsp;made the list, along with Schwab and credit card players Discover Financial Services&nbsp;and Synchrony Financial (SYF).</p><p><blockquote>你可以看到名单上的大多数银行都相对较小，这支持了萨勃拉曼尼亚对小盘股的偏好。但美国运通公司、嘉信理财和信用卡公司Discover Financial Services和Synchrony Financial(SYF)上榜。</blockquote></p><p> The right-most column contains total returns, with dividends reinvested, for the past five years through Sept. 24. In comparison, the S&amp;P 1500 banking industry group returned 124% and the S&amp;P Composite 1500 returned 111% over the same period.</p><p><blockquote>最右边的一栏包含截至9月24日的过去五年的总回报（包括股息再投资）。相比之下，同期标准普尔1500银行业集团的回报率为124%，标准普尔综合1500指数的回报率为111%。</blockquote></p><p> <b>Analysts' price targets</b></p><p><blockquote><b>分析师的价格目标</b></blockquote></p><p> Here's the list again, in the same order, with a summary of analysts' opinions, dividend yields and forward P/E ratios:</p><p><blockquote>以下是该列表，按相同顺序，总结了分析师的意见、股息收益率和远期市盈率：</blockquote></p><p></p><p> <table>  <tbody>   <tr>    <td>Company</td>    <td>Share \"buy\" ratings</td>    <td>Closing price -- Sept. 24</td>    <td>Consensus price target</td>    <td>Implied 12-month upside potential</td>    <td>Dividend yield</td>    <td>Forward P/E</td>   </tr>   <tr>    <td>Ameriprise Financial Inc. AMP</td>    <td>77%</td>    <td>$271.40</td>    <td>$292.50</td>    <td>8%</td>    <td>1.67%</td>    <td>11.9</td>   </tr>   <tr>    <td>American Express Co. AXP</td>    <td>45%</td>    <td>$175.72</td>    <td>$182.35</td>    <td>4%</td>    <td>0.98%</td>    <td>22.4</td>   </tr>   <tr>    <td>MetroCity Bankshares Inc. MCBS</td>    <td>0%</td>    <td>$20.80</td>    <td>$22.50</td>    <td>8%</td>    <td>2.31%</td>    <td>8.2</td>   </tr>   <tr>    <td>Discover Financial Services DFS</td>    <td>54%</td>    <td>$130.01</td>    <td>$136.22</td>    <td>5%</td>    <td>1.54%</td>    <td>10.4</td>   </tr>   <tr>    <td>ServisFirst Bancshares Inc. SFBS</td>    <td>0%</td>    <td>$77.05</td>    <td>$70.33</td>    <td>-9%</td>    <td>1.04%</td>    <td>20.4</td>   </tr>   <tr>    <td>Synchrony Financial SYF</td>    <td>77%</td>    <td>$50.23</td>    <td>$57.21</td>    <td>14%</td>    <td>1.75%</td>    <td>8.9</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/AX\">Axos Financial Inc</a>. AX</td>    <td>88%</td>    <td>$46.65</td>    <td>$56.00</td>    <td>20%</td>    <td>0.00%</td>    <td>13.0</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/SIVBP\">SVB Financial Group</a> SIVB</td>    <td>61%</td>    <td>$649.96</td>    <td>$671.65</td>    <td>3%</td>    <td>0.00%</td>    <td>26.0</td>   </tr>   <tr>    <td>Western Alliance Bancorp WAL</td>    <td>92%</td>    <td>$103.07</td>    <td>$120.42</td>    <td>17%</td>    <td>1.36%</td>    <td>11.6</td>   </tr>   <tr>    <td>Hingham Institution for Savings HIFS</td>    <td>N/A</td>    <td>N/A</td>    <td>N/A</td>    <td>N/A</td>    <td>0.59%</td>    <td>N/A</td>   </tr>   <tr>    <td>Bank of Hawaii Corp. BOH</td>    <td>17%</td>    <td>$81.55</td>    <td>$90.80</td>    <td>11%</td>    <td>3.43%</td>    <td>15.9</td>   </tr>   <tr>    <td>Charles Schwab Corp. SCHW</td>    <td>63%</td>    <td>$75.59</td>    <td>$83.83</td>    <td>11%</td>    <td>0.95%</td>    <td>23.0</td>   </tr>   <tr>    <td>Preferred Bank PFBC</td>    <td>50%</td>    <td>$65.91</td>    <td>$73.00</td>    <td>11%</td>    <td>2.31%</td>    <td>10.4</td>   </tr>   <tr>    <td>West Bancorp Inc. WTBA</td>    <td>0%</td>    <td>$29.48</td>    <td>$32.00</td>    <td>9%</td>    <td>3.26%</td>    <td>10.8</td>   </tr>   <tr>    <td>Stock Yards Bancorp Inc. SYBT</td>    <td>25%</td>    <td>$55.23</td>    <td>$54.33</td>    <td>-2%</td>    <td>2.03%</td>    <td>17.8</td>   </tr>   <tr>    <td>Lakeland Financial Corp. LKFN</td>    <td>0%</td>    <td>$66.83</td>    <td>$63.67</td>    <td>-5%</td>    <td>2.04%</td>    <td>18.2</td>   </tr>   <tr>    <td>Flagstar Bancorp Inc. FBC</td>    <td>60%</td>    <td>$50.08</td>    <td>$62.75</td>    <td>25%</td>    <td>0.48%</td>    <td>7.8</td>   </tr>   <tr>    <td>East West Bancorp Inc. EWBC</td>    <td>83%</td>    <td>$75.20</td>    <td>$90.91</td>    <td>21%</td>    <td>1.76%</td>    <td>12.6</td>   </tr>   <tr>    <td>First Financial Bankshares Inc. FFIN</td>    <td>0%</td>    <td>$44.97</td>    <td>$45.33</td>    <td>1%</td>    <td>1.33%</td>    <td>30.3</td>   </tr>   <tr>    <td>Raymond James Financial Inc. RJF</td>    <td>82%</td>    <td>$93.13</td>    <td>$106.79</td>    <td>15%</td>    <td>1.12%</td>    <td>14.2</td>   </tr>   <tr>    <td>Source: FactSet</td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>   </tr>  </tbody> </table> </p><p><blockquote><table><tbody><tr><td>公司</td><td>分享“买入”评级</td><td>收盘价——9月24日</td><td>共识价格目标</td><td>隐含的12个月上涨潜力</td><td>股息率</td><td>远期市盈率</td></tr><tr><td>Ameriprise金融公司AMP</td><td>77%</td><td>$271.40</td><td>$292.50</td><td>8%</td><td>1.67%</td><td>11.9</td></tr><tr><td>美国运通公司AXP</td><td>45%</td><td>$175.72</td><td>$182.35</td><td>4%</td><td>0.98%</td><td>22.4</td></tr><tr><td>大都会银行股份公司MCBS</td><td>0%</td><td>$20.80</td><td>$22.50</td><td>8%</td><td>2.31%</td><td>8.2</td></tr><tr><td>探索金融服务DFS</td><td>54%</td><td>$130.01</td><td>$136.22</td><td>5%</td><td>1.54%</td><td>10.4</td></tr><tr><td>ServisFirst Bancshares Inc.SFBS</td><td>0%</td><td>$77.05</td><td>$70.33</td><td>-9%</td><td>1.04%</td><td>20.4</td></tr><tr><td>同步金融SYF</td><td>77%</td><td>$50.23</td><td>$57.21</td><td>14%</td><td>1.75%</td><td>8.9</td></tr><tr><td><a href=\"https://laohu8.com/S/AX\">Axos金融公司</a>.斧头</td><td>88%</td><td>$46.65</td><td>$56.00</td><td>20%</td><td>0.00%</td><td>13.0</td></tr><tr><td><a href=\"https://laohu8.com/S/SIVBP\">SVB金融集团</a>SIVB</td><td>61%</td><td>$649.96</td><td>$671.65</td><td>3%</td><td>0.00%</td><td>26.0</td></tr><tr><td>西部联盟银行WAL</td><td>92%</td><td>$103.07</td><td>$120.42</td><td>17%</td><td>1.36%</td><td>11.6</td></tr><tr><td>欣厄姆储蓄机构HIFS</td><td>N/A</td><td>N/A</td><td>N/A</td><td>N/A</td><td>0.59%</td><td>N/A</td></tr><tr><td>夏威夷银行BOH</td><td>17%</td><td>$81.55</td><td>$90.80</td><td>11%</td><td>3.43%</td><td>15.9</td></tr><tr><td>嘉信理财公司SCHW</td><td>63%</td><td>$75.59</td><td>$83.83</td><td>11%</td><td>0.95%</td><td>23.0</td></tr><tr><td>首选银行PFBC</td><td>50%</td><td>$65.91</td><td>$73.00</td><td>11%</td><td>2.31%</td><td>10.4</td></tr><tr><td>西部银行公司WTBA</td><td>0%</td><td>$29.48</td><td>$32.00</td><td>9%</td><td>3.26%</td><td>10.8</td></tr><tr><td>库存码银行公司SYBT</td><td>25%</td><td>$55.23</td><td>$54.33</td><td>-2%</td><td>2.03%</td><td>17.8</td></tr><tr><td>莱克兰金融公司LKFN</td><td>0%</td><td>$66.83</td><td>$63.67</td><td>-5%</td><td>2.04%</td><td>18.2</td></tr><tr><td>Flagstar银行公司FBC</td><td>60%</td><td>$50.08</td><td>$62.75</td><td>25%</td><td>0.48%</td><td>7.8</td></tr><tr><td>华美银行EWBC</td><td>83%</td><td>$75.20</td><td>$90.91</td><td>21%</td><td>1.76%</td><td>12.6</td></tr><tr><td>第一金融银行股份公司FFIN</td><td>0%</td><td>$44.97</td><td>$45.33</td><td>1%</td><td>1.33%</td><td>30.3</td></tr><tr><td>雷蒙德·詹姆斯金融公司RJF</td><td>82%</td><td>$93.13</td><td>$106.79</td><td>15%</td><td>1.12%</td><td>14.2</td></tr><tr><td>来源：FactSet</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></tbody></table></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/bank-stocks-are-cheap-here-are-the-20-best-players-in-the-industry-11632747882?mod=newsviewer_click\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DFS":"发现金融","TERN":"Terns Pharmaceuticals, Inc.","AXP":"美国运通","SCHW":"嘉信理财","FWRG":"First Watch Restaurant Group, Inc.","SYF":"Synchrony Financial","OLPX":"Olaplex Holdings, Inc.","AMP":"阿莫斯莱斯金融","CRCT":"Cricut, Inc.","HCTI":"Healthcare Triangle, Inc."},"source_url":"https://www.marketwatch.com/story/bank-stocks-are-cheap-here-are-the-20-best-players-in-the-industry-11632747882?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2170930623","content_text":"Bank stocks have soared during 2021, but are still trading lower than usual to the market as a whole\nBLOOMBERG\nBank stocks have had a good run in 2021, but they still lag behind the broader market's recovery since the pandemic doldrums of 2020. And now that the Federal Reserve seems likely to allow interest rates to rise soon, the banks may have an easier time improving their profits.\nBelow is a list of the best-performing U.S. banks over the past five years, based on returns on common equity.\nDuring her recent discussion of stock-market strategy on CNBC, Savita Subramanian, the head of U.S. equity and quantitative strategy at Bank of America, said that small-cap stocks, especially energy and financial companies, were trading at compelling valuations and could give investors \"more earnings yield for the same price.\"\nHere's a recent screen of energy stocks.\nLow valuations\nTaking a broad look at forward price-to-earning valuations for the S&P 1500 Composite Index (made up of the large-cap S&P 500 , the S&P 400 Mid Cap Index $(MID)$ and the S&P Small Cap 600 Index ), bank stocks are trading relatively cheaply:\nFACTSET\nThe S&P 1500 bank industry group trades at a price-to-earnings ratio of 12.6, based on weighted consensus price-to-earnings estimates for the next 12 months among analysts polled by FactSet. The full S&P 1500 Composite Index trades at a forward P/E of 20.5. The average forward P/E for the banks over the past 15 years has been 12.5, while the average forward P/E for the full index has been 15.4.\nSo the banks now trade for 61% of the S&P 1500's forward P/E valuation, while they have traded for 81% on average.\nAnd that is despite the banks' outperformance this year, returning 34%, while the S&P Composite 1500 has returned 20%.\nA coming slowdown of bond purchases by the Federal Reserve is expected to push long-term interest rates higher, which for most banks will mean increased profitability, with wider spreads between rates on loans and those paid on deposits. The market has been anticipating the Fed's change in policy, pushing yields on 10-year U.S. Treasury notes to 1.49% early on Sept. 27 from 1.31% on Sept. 20.\nBank-stock screen -- return on common equity\nWhile Subramanian emphasized small-cap stocks, it seems reasonable to look at all bank stocks and find the ones with the best average returns on common equity. A screen on ROCE can work well within an industry such as banking, because the banks are required to hold minimum levels of capital, including common equity, by regulators. In other industries you may have healthy profitable companies that have negative equity. An example is McDonald's Corp. $(MCD)$, which had negative total shareholders' equity of $5.8 billion as of June 30.\nIt also makes sense to include large banks in our screen because the biggest and most complex U.S. banks are required by regulators to hold more capital than smaller banks. If a big bank make makes the list, so be it: Its ROCE denominator is larger, so it has more of a hill to climb.\nStarting with the Russell 3000 Index, which represents about 98% of U.S. stocks by market capitalization, we identified 229 banks. This includes some companies that are investment banks and/or brokers. The determining factor for a company such as Charles Schwab Corp. $(SCHW)$, for example, is whether of not it files a bank or savings and loan holding company report with the Federal Reserve. If it does, it means the company is gathering deposits insured by the FDIC. Schwab does so through its subsidiary, Charles Schwab Bank SSB.\nLooking back over the past 20 reported quarters through June 30, here are the 20 banks with the highest average returns on common equity. The list is limited to U.S. banks for which the data is available from FactSet for all of those quarters.\n\n\n\nCompany\nCity\nMarket cap. ($mil)\nAverage ROCE -- 20 quarters\nTotal return -- 5 years\n\n\nAmeriprise Financial Inc. AMP\nMinneapolis\n$30,871\n27.66%\n208%\n\n\nAmerican Express Co. AXP\nNew York\n$139,598\n22.95%\n197%\n\n\nMetroCity Bankshares Inc. MCBS\nDoraville, Ga.\n$530\n22.80%\n434%\n\n\nDiscover Financial Services DFS\nRiverwoods, Ill.\n$38,934\n22.58%\n153%\n\n\nServisFirst Bancshares Inc. SFBS\nBirmingham, Ala.\n$4,176\n18.32%\n216%\n\n\nSynchrony Financial SYF\nStamford, Conn.\n$28,616\n18.07%\n108%\n\n\nAxos Financial Inc. AX\nLas Vegas\n$2,769\n16.82%\n108%\n\n\nSVB Financial Group SIVB\nSanta Clara, Calif.\n$38,129\n16.63%\n493%\n\n\nWestern Alliance Bancorp WAL\nPhoenix\n$10,740\n16.61%\n188%\n\n\nHingham Institution for Savings HIFS\nHingham, Mass.\n$738\n16.46%\n168%\n\n\nBank of Hawaii Corp. BOH\nHonolulu\n$3,301\n15.64%\n30%\n\n\nCharles Schwab Corp. SCHW\nAustin, Texas\n$136,720\n15.38%\n162%\n\n\nPreferred Bank PFBC\nLos Angeles\n$982\n15.33%\n106%\n\n\nWest Bancorp Inc. WTBA\nWest Des Moines, Iowa\n$488\n14.85%\n74%\n\n\nStock Yards Bancorp Inc. SYBT\nLouisville, Ky.\n$1,468\n14.35%\n90%\n\n\nLakeland Financial Corp. LKFN\nWarsaw, Ind.\n$1,691\n14.18%\n110%\n\n\nFlagstar Bancorp Inc. FBC\nTroy, Mich.\n$2,647\n14.10%\n83%\n\n\nEast West Bancorp Inc. EWBC\nPasadena, Calif.\n$10,669\n14.01%\n127%\n\n\nFirst Financial Bankshares Inc. FFIN\nAbilene, Texas\n$6,402\n13.76%\n165%\n\n\nRaymond James Financial Inc. RJF\nSt. Petersburg, Fla.\n$19,165\n13.71%\n160%\n\n\nSource: FactSet\n\n\n\n\n\n\n\nClick on the tickers for more about each bank. The MarketWatch quote page can be an excellent start for your own research. Click here for Tomi Kilgore's new, detailed guide to the wealth of information available for free on the quote page.\nYou can see that most of the banks on the list are relatively small, backing Subramanian's preference for small-caps. But American Express Co. made the list, along with Schwab and credit card players Discover Financial Services and Synchrony Financial (SYF).\nThe right-most column contains total returns, with dividends reinvested, for the past five years through Sept. 24. In comparison, the S&P 1500 banking industry group returned 124% and the S&P Composite 1500 returned 111% over the same period.\nAnalysts' price targets\nHere's the list again, in the same order, with a summary of analysts' opinions, dividend yields and forward P/E ratios:\n\n\n\nCompany\nShare \"buy\" ratings\nClosing price -- Sept. 24\nConsensus price target\nImplied 12-month upside potential\nDividend yield\nForward P/E\n\n\nAmeriprise Financial Inc. AMP\n77%\n$271.40\n$292.50\n8%\n1.67%\n11.9\n\n\nAmerican Express Co. AXP\n45%\n$175.72\n$182.35\n4%\n0.98%\n22.4\n\n\nMetroCity Bankshares Inc. MCBS\n0%\n$20.80\n$22.50\n8%\n2.31%\n8.2\n\n\nDiscover Financial Services DFS\n54%\n$130.01\n$136.22\n5%\n1.54%\n10.4\n\n\nServisFirst Bancshares Inc. SFBS\n0%\n$77.05\n$70.33\n-9%\n1.04%\n20.4\n\n\nSynchrony Financial SYF\n77%\n$50.23\n$57.21\n14%\n1.75%\n8.9\n\n\nAxos Financial Inc. AX\n88%\n$46.65\n$56.00\n20%\n0.00%\n13.0\n\n\nSVB Financial Group SIVB\n61%\n$649.96\n$671.65\n3%\n0.00%\n26.0\n\n\nWestern Alliance Bancorp WAL\n92%\n$103.07\n$120.42\n17%\n1.36%\n11.6\n\n\nHingham Institution for Savings HIFS\nN/A\nN/A\nN/A\nN/A\n0.59%\nN/A\n\n\nBank of Hawaii Corp. BOH\n17%\n$81.55\n$90.80\n11%\n3.43%\n15.9\n\n\nCharles Schwab Corp. SCHW\n63%\n$75.59\n$83.83\n11%\n0.95%\n23.0\n\n\nPreferred Bank PFBC\n50%\n$65.91\n$73.00\n11%\n2.31%\n10.4\n\n\nWest Bancorp Inc. WTBA\n0%\n$29.48\n$32.00\n9%\n3.26%\n10.8\n\n\nStock Yards Bancorp Inc. SYBT\n25%\n$55.23\n$54.33\n-2%\n2.03%\n17.8\n\n\nLakeland Financial Corp. LKFN\n0%\n$66.83\n$63.67\n-5%\n2.04%\n18.2\n\n\nFlagstar Bancorp Inc. FBC\n60%\n$50.08\n$62.75\n25%\n0.48%\n7.8\n\n\nEast West Bancorp Inc. EWBC\n83%\n$75.20\n$90.91\n21%\n1.76%\n12.6\n\n\nFirst Financial Bankshares Inc. FFIN\n0%\n$44.97\n$45.33\n1%\n1.33%\n30.3\n\n\nRaymond James Financial Inc. RJF\n82%\n$93.13\n$106.79\n15%\n1.12%\n14.2\n\n\nSource: FactSet","news_type":1,"symbols_score_info":{"CRCT":0.9,"ALVU":0.9,"HCTI":0.9,"DFS":0.9,"SYF":0.9,"AXP":0.9,"AMP":0.9,"TERN":0.9,"SCHW":0.9,"FWRG":0.9,"OLPX":0.9}},"isVote":1,"tweetType":1,"viewCount":493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868595000,"gmtCreate":1632668594500,"gmtModify":1632798685073,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868595000","repostId":"1142057327","repostType":4,"repost":{"id":"1142057327","kind":"news","pubTimestamp":1632643246,"share":"https://www.laohu8.com/m/news/1142057327?lang=zh_CN&edition=full","pubTime":"2021-09-26 16:00","market":"us","language":"en","title":"Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142057327","media":"The street","summary":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to","content":"<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.</p><p><blockquote>英特尔在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项200亿美元项目的一部分，旨在帮助满足美国对半导体的高需求。</blockquote></p><p> Intel&nbsp;(<b>INTC</b>) -Get Intel Corporation (INTC) Report&nbsp;on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help&nbsp;alleviate the severe shortage of semiconductors in the U.S.</p><p><blockquote>英特尔（<b>INTC</b>)-获取英特尔公司(INTC)报告周五在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项耗资200亿美元的项目的一部分，旨在帮助缓解美国半导体的严重短缺。</blockquote></p><p> The Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的半导体芯片制造商首席执行官帕特·基辛格(Pat Gelsinger)在该公司位于亚利桑那州钱德勒的奥科蒂洛园区主持了该项目的奠基仪式，标志着该州历史上最大的私人投资。</blockquote></p><p> Intel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.</p><p><blockquote>英特尔预计这些工厂将于2024年全面投入运营，生产该公司最先进的工艺技术。</blockquote></p><p> “Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.</p><p><blockquote>基辛格在公司声明中表示：“今天的庆祝活动标志着一个重要的里程碑，因为我们正在努力提高产能并满足对半导体的难以置信的需求：半导体是万物数字化的基础技术。我们正在开创一个创新的新时代——对英特尔、对亚利桑那州和对全世界都是如此。自40多年前开业以来，这项200亿美元的扩建将使我们在亚利桑那州的总投资超过500亿美元。”</blockquote></p><p> \"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.</p><p><blockquote>Gelsinger表示：“作为唯一一家总部位于美国的领先芯片制造商，我们致力于在这项长期投资的基础上再接再厉，帮助美国重新获得半导体领先地位。”</blockquote></p><p> Shares of Intel on Friday traded 0.18% higher to $54.32 after hours.</p><p><blockquote>周五盘后英特尔股价上涨0.18%，至54.32美元。</blockquote></p><p> Gelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.</p><p><blockquote>基辛格周四参加了与科技公司高管和商务部长吉娜·雷蒙多的虚拟会议，以解决全球半导体芯片短缺问题，该问题干扰了高科技、电子和汽车行业的生产。</blockquote></p><p> The two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.</p><p><blockquote>这两个新工厂将被命名为Fab 52和Fab 62，将容纳总共六个半导体晶圆厂。该项目将创造3,000多个高科技、高工资的英特尔工作岗位、3,000个建筑工作岗位，并为当地社区提供约15,000个额外的间接工作岗位。</blockquote></p><p> Intel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.</p><p><blockquote>英特尔的竞争对手台积电公司计划也在亚利桑那州建造其在美国的第二家芯片工厂，目标是2024年开始生产。</blockquote></p><p></p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</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\">\nIntel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The street</strong><span class=\"h-time small\">2021-09-26 16:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.</p><p><blockquote>英特尔在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项200亿美元项目的一部分，旨在帮助满足美国对半导体的高需求。</blockquote></p><p> Intel&nbsp;(<b>INTC</b>) -Get Intel Corporation (INTC) Report&nbsp;on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help&nbsp;alleviate the severe shortage of semiconductors in the U.S.</p><p><blockquote>英特尔（<b>INTC</b>)-获取英特尔公司(INTC)报告周五在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项耗资200亿美元的项目的一部分，旨在帮助缓解美国半导体的严重短缺。</blockquote></p><p> The Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的半导体芯片制造商首席执行官帕特·基辛格(Pat Gelsinger)在该公司位于亚利桑那州钱德勒的奥科蒂洛园区主持了该项目的奠基仪式，标志着该州历史上最大的私人投资。</blockquote></p><p> Intel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.</p><p><blockquote>英特尔预计这些工厂将于2024年全面投入运营，生产该公司最先进的工艺技术。</blockquote></p><p> “Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.</p><p><blockquote>基辛格在公司声明中表示：“今天的庆祝活动标志着一个重要的里程碑，因为我们正在努力提高产能并满足对半导体的难以置信的需求：半导体是万物数字化的基础技术。我们正在开创一个创新的新时代——对英特尔、对亚利桑那州和对全世界都是如此。自40多年前开业以来，这项200亿美元的扩建将使我们在亚利桑那州的总投资超过500亿美元。”</blockquote></p><p> \"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.</p><p><blockquote>Gelsinger表示：“作为唯一一家总部位于美国的领先芯片制造商，我们致力于在这项长期投资的基础上再接再厉，帮助美国重新获得半导体领先地位。”</blockquote></p><p> Shares of Intel on Friday traded 0.18% higher to $54.32 after hours.</p><p><blockquote>周五盘后英特尔股价上涨0.18%，至54.32美元。</blockquote></p><p> Gelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.</p><p><blockquote>基辛格周四参加了与科技公司高管和商务部长吉娜·雷蒙多的虚拟会议，以解决全球半导体芯片短缺问题，该问题干扰了高科技、电子和汽车行业的生产。</blockquote></p><p> The two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.</p><p><blockquote>这两个新工厂将被命名为Fab 52和Fab 62，将容纳总共六个半导体晶圆厂。该项目将创造3,000多个高科技、高工资的英特尔工作岗位、3,000个建筑工作岗位，并为当地社区提供约15,000个额外的间接工作岗位。</blockquote></p><p> Intel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.</p><p><blockquote>英特尔的竞争对手台积电公司计划也在亚利桑那州建造其在美国的第二家芯片工厂，目标是2024年开始生产。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories\">The street</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔"},"source_url":"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142057327","content_text":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.\nIntel (INTC) -Get Intel Corporation (INTC) Report on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help alleviate the severe shortage of semiconductors in the U.S.\nThe Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.\nIntel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.\n“Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.\n\"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.\nShares of Intel on Friday traded 0.18% higher to $54.32 after hours.\nGelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.\nThe two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.\nIntel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.","news_type":1,"symbols_score_info":{"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":452,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":869945666,"gmtCreate":1632238425555,"gmtModify":1632801831310,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Yamete","listText":"Yamete","text":"Yamete","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/869945666","repostId":"1154232593","repostType":4,"repost":{"id":"1154232593","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":1632236324,"share":"https://www.laohu8.com/m/news/1154232593?lang=zh_CN&edition=full","pubTime":"2021-09-21 22:58","market":"other","language":"en","title":"Dow erases a 343-point rebound and turns red<blockquote>道指抹去343点反弹并翻红</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154232593","media":"Tiger Newspress","summary":"(Sept 21) After yesterday afternoon's surge higher, futures markets overnight extended the momentum,","content":"<p>(Sept 21)&nbsp;After yesterday afternoon's surge higher, futures markets overnight extended the momentum, lifting US markets up over 1% at their peak around the European open (remember, much of Asian liquidity is on holiday still).</p><p><blockquote>（9月21日）在昨天下午飙升后，期货市场隔夜延续了这一势头，推动美国市场在欧洲开盘前后的峰值上涨超过1%（请记住，大部分亚洲流动性仍在度假）。</blockquote></p><p> Since then, things have gone downhill and the selling pressure since the US opened has sent Small Caps, S&amp;P, Dow, and Nasdaq into the red for the day...</p><p><blockquote>从那以后，事情开始走下坡路，自美国开盘以来的抛售压力导致小盘股、S&amp;P、道琼斯和纳斯达克当天出现亏损...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/098e0b3b1c0255545ee40a5e5ac19c60\" tg-width=\"1232\" tg-height=\"578\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow erases a 343-point rebound and turns red<blockquote>道指抹去343点反弹并翻红</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\">\nDow erases a 343-point rebound and turns red<blockquote>道指抹去343点反弹并翻红</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\">2021-09-21 22:58</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Sept 21)&nbsp;After yesterday afternoon's surge higher, futures markets overnight extended the momentum, lifting US markets up over 1% at their peak around the European open (remember, much of Asian liquidity is on holiday still).</p><p><blockquote>（9月21日）在昨天下午飙升后，期货市场隔夜延续了这一势头，推动美国市场在欧洲开盘前后的峰值上涨超过1%（请记住，大部分亚洲流动性仍在度假）。</blockquote></p><p> Since then, things have gone downhill and the selling pressure since the US opened has sent Small Caps, S&amp;P, Dow, and Nasdaq into the red for the day...</p><p><blockquote>从那以后，事情开始走下坡路，自美国开盘以来的抛售压力导致小盘股、S&amp;P、道琼斯和纳斯达克当天出现亏损...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/098e0b3b1c0255545ee40a5e5ac19c60\" tg-width=\"1232\" tg-height=\"578\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154232593","content_text":"(Sept 21) After yesterday afternoon's surge higher, futures markets overnight extended the momentum, lifting US markets up over 1% at their peak around the European open (remember, much of Asian liquidity is on holiday still).\nSince then, things have gone downhill and the selling pressure since the US opened has sent Small Caps, S&P, Dow, and Nasdaq into the red for the day...","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887560188,"gmtCreate":1632065552644,"gmtModify":1632803052658,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/887560188","repostId":"1198486138","repostType":4,"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887349818,"gmtCreate":1631982598734,"gmtModify":1632804968723,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"k","listText":"k","text":"k","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887349818","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","kind":"news","pubTimestamp":1631921912,"share":"https://www.laohu8.com/m/news/1171558890?lang=zh_CN&edition=full","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将于2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>","source":"lsy1619493174116","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</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: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-09-18 07:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将于2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">renaissancecap...</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOVO":"Sovos Brands, Inc.","TOST":"Toast, Inc.","STER":"Sterling Check Corp.","FRSH":"Freshworks","HLTH":"Cue Health Inc.","RELY":"Remitly Global, Inc.","ESMT":"EngageSmart Inc.","ARBK":"Argo Blockchain Plc","AKA":"a.k.a. Brands Holding Corp.","THRN":"Thorne Healthtech","BRLT":"Brilliant Earth Group, Inc.","CWAN":"Clearwater Analytics Holdings, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' 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and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/161271184","repostId":"1185082331","repostType":4,"repost":{"id":"1185082331","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":1623931553,"share":"https://www.laohu8.com/m/news/1185082331?lang=zh_CN&edition=full","pubTime":"2021-06-17 20:05","market":"us","language":"en","title":"Toplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185082331","media":"Tiger Newspress","summary":"Technology stocks were set to lead Wall Street lower on Thursday after the Federal Reserve signaled ","content":"<p>Technology stocks were set to lead Wall Street lower on Thursday after the Federal Reserve signaled it could start tapering its massive stimulus earlier than expected, piling pressure on a sector that is seen as vulnerable to higher interest rates.</p><p><blockquote>在美联储暗示可能比预期更早开始缩减大规模刺激计划后，科技股周四将引领华尔街走低，这给被视为容易受到利率上升影响的行业带来了压力。</blockquote></p><p> At 8:05 a.m. ET, Dow E-minis were down 61 points, or 0.18%, S&amp;P 500 E-minis were down 9.5 points, or 0.23% and Nasdaq 100 E-minis fell 52.75 points, or 0.38%.</p><p><blockquote>截至美国东部时间上午8:05，道指E-minis下跌61点，跌幅0.18%，标普500 E-minis下跌9.5点，跌幅0.23%，纳斯达克100 E-minis下跌52.75点，跌幅0.38%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5c87220b14c23fa1ef2d424bd7883caf\" tg-width=\"584\" tg-height=\"215\"><span>*Source From Tiger Trade, EST 08:05</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源自Tiger Trade，美国东部时间08:05</span></p></blockquote></p><p> Powell said progress toward the Fed's dual employment and inflation goals were happening somewhat faster than expected. Central bankers raised their GDP expectations for this year to 7% from 6.5% previously. </p><p><blockquote>鲍威尔表示，美联储实现就业和通胀双重目标的进展速度略快于预期。各国央行行长将今年GDP预期从此前的6.5%上调至7%。</blockquote></p><p> Their unemployment rate estimate remained unchanged at 4.5%. In further evidence that the resumption of business activity has helped get people back to work, the government's latest initial jobless claims total is expected to drop to a new pandemic low of 360,000 for last week. </p><p><blockquote>他们的失业率估计维持在4.5%不变。政府最新的首次申请失业救济人数预计将降至上周36万人的疫情新低，这进一步证明商业活动的恢复有助于人们重返工作岗位。</blockquote></p><p> The report is issued at 8:30 a.m. ET Thursday. Two weeks ago, new filings for unemployment benefits went below 400,000 for the first time since March 2020.</p><p><blockquote>该报告于美国东部时间周四上午8:30发布。两周前，新申请失业救济人数自2020年3月以来首次低于40万人。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>CureVac(CVAC)</b> – CureVac shares plunged 46.2% in the premarket after the German drugmaker reported disappointing results from a study of its experimental Covid-19 vaccine. The treatment was 47% effective in a clinical trial, compared to more than 90% for other mRNA-based vaccines fromModerna(MRNA) andPfizer(PFE).</p><p><blockquote><b>CureVac(CVAC)</b>–德国制药商CureVac公布其实验性Covid-19疫苗研究结果令人失望后，该公司股价在盘前暴跌46.2%。该治疗在临床试验中的有效率为47%，而Moderna(mRNA)和辉瑞(PFE)的其他基于mRNA的疫苗的有效率超过90%。</blockquote></p><p> <b>Novavax(NVAX),BioNTech(BNTX)</b> – On the heels of the CureVac news, Novavax added 3.4% in the premarket while BioNTech rose 2.6%. BioNTech's Covid vaccine – developed in partnership with Pfizer – is already approved for use in the US, while Novavax reported 90% efficacy for its vaccine in a recent study.</p><p><blockquote><b>Novavax(NVAX)、BioNTech(BNTX)</b>–CureVac消息传出后，Novavax盘前上涨3.4%，BioNTech上涨2.6%。BioNTech与辉瑞合作开发的新冠疫苗已被批准在美国使用，而Novavax在最近的一项研究中报告其疫苗的有效性为90%。</blockquote></p><p> <b>The Honest Company(HNST)</b> – The household products maker reported a wider-than-expected loss in its first quarter as a public company, although revenue was better than analysts had anticipated. Sales got a boost from pandemic-induced demand for sanitizing products. The stock tumbled 8.3% in premarket trading.</p><p><blockquote><b>诚实公司(HNST)</b>-这家家居用品制造商报告称，作为一家上市公司，第一季度的亏损超出了预期，尽管收入好于分析师的预期。大流行引发的对消毒产品的需求提振了销售额。该股在盘前交易中下跌8.3%。</blockquote></p><p> <b>Tenet Healthcare(THC)</b> – The hospital operator's shares jumped 3.5% in the premarket, after it announced the sale of five hospitals and associated physician practices in Florida to Steward Health Care for about $1.1 billion.</p><p><blockquote><b>特尼特医疗保健(THC)</b>–该医院运营商宣布以约11亿美元的价格将佛罗里达州的五家医院和相关医生诊所出售给Steward Health Care后，其股价在盘前上涨3.5%。</blockquote></p><p> <b>Lennar(LEN)</b> – Lennar earned $2.65 per share for its latest quarter, beating the $2.36 a share consensus estimate. Revenue topped forecasts as well. The home builder is dealing with higher input costs and a labor shortage, but the lack of homes for sale in the U.S. helped push prices higher and expand Lennar's profit margins significantly over a year earlier.</p><p><blockquote><b>Lennar(LEN)</b>-Lennar最近一个季度的每股收益为2.65美元，超过了每股2.36美元的普遍预期。收入也超出了预期。该房屋建筑商正在应对更高的投入成本和劳动力短缺的问题，但美国待售房屋的缺乏帮助推高了价格，并比一年前大幅扩大了Lennar的利润率。</blockquote></p><p> <b>Dell Technologies(DELL)</b> – Dell was chosen byDish Network(DISH) to build key parts of the 5G network the satellite TV operator is building in the United States. Dish will launch 5G service in Las Vegas later this year and plans to cover 70% of the U.S. with its network by mid-2023.</p><p><blockquote><b>戴尔科技(DELL)</b>-戴尔被Dish Network(DISH)选中，为这家卫星电视运营商正在美国建设的5G网络构建关键部分。Dish将于今年晚些时候在拉斯维加斯推出5G服务，并计划到2023年中期其网络覆盖美国70%的地区。</blockquote></p><p> <b>Fisker(FSR)</b> – Fisker shares added 2.8% in the premarket after the electric vehicle maker signed a long-term manufacturing agreement withMagna International(MGA). Magna will build the Fisker Ocean electric SUV starting in November 2022.</p><p><blockquote><b>菲斯克(FSR)</b>–电动汽车制造商菲斯克(Fisker)与麦格纳国际(MGA)签署长期制造协议后，该公司股价在盘前上涨2.8%。麦格纳将于2022年11月开始生产Fisker Ocean电动SUV。</blockquote></p><p> <b>Aon(AON)</b>,Willis Towers Watson(WLTW) – The U.S. Justice Department sued to block insurance company Aon's deal to buy consulting firm Willis Towers Watson for $35 billion. The department said the combinationcould eliminate competitionin several different markets. Aon and Willis Towers said the move showed a lack of understanding of their businesses, clients and the markets in which they operate.</p><p><blockquote><b>怡安(AON)</b>威利斯韬睿惠悦(WLTW)——美国司法部提起诉讼，阻止保险公司怡安以350亿美元收购咨询公司威利斯韬睿惠悦的交易。该部门表示，此次合并可能会消除几个不同市场的竞争。怡安和威利斯大厦表示，此举表明他们对自己的业务、客户和经营所在的市场缺乏了解。</blockquote></p><p> <b>Akamai Technologies(AKAM)</b> – A variety of financial institutions, governments and airlines experienced brief website outages early Thursday. Some of the outages were linked to a failure at web services company Akamai Technologies, according to people familiar with the matter who spoke to Bloomberg. Akamai said it was aware of the issue and was working to restore service as soon as possible. Shares fell 1.5% in premarket trading.</p><p><blockquote><b>Akamai技术(AKAM)</b>-周四早些时候，多家金融机构、政府和航空公司经历了短暂的网站中断。据接受彭博采访的知情人士透露，一些中断与网络服务公司Akamai Technologies的故障有关。Akamai表示，它已经意识到了这个问题，并正在努力尽快恢复服务。股价在盘前交易中下跌1.5%。</blockquote></p><p> <b>O'Reilly Automotive(ORLY)</b> – The auto parts retailer struck a new $1.8 billion revolving credit agreement with a group of banks led byJPMorgan Chase(JPM).</p><p><blockquote><b>奥莱利汽车公司(ORLY)</b>-这家汽车零部件零售商与以摩根大通(JPM)为首的一批银行达成了一项新的18亿美元循环信贷协议。</blockquote></p><p> <b>Jack In The Box(JACK)</b> – The restaurant chain was rated \"outperform\" in new coverage at RBC Capital, which noted the stock's discounted valuation compared to its peers as well as upbeat prospects for new restaurant growth.</p><p><blockquote><b>盒子里的杰克（杰克）</b>-加拿大皇家银行资本(RBC Capital)在新的报道中将该连锁餐厅评级为“跑赢大盘”，该公司指出该股的估值较同行有所折扣，并且新餐厅增长前景乐观。</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 Thursday<blockquote>周四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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Thursday<blockquote>周四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\">2021-06-17 20:05</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Technology stocks were set to lead Wall Street lower on Thursday after the Federal Reserve signaled it could start tapering its massive stimulus earlier than expected, piling pressure on a sector that is seen as vulnerable to higher interest rates.</p><p><blockquote>在美联储暗示可能比预期更早开始缩减大规模刺激计划后，科技股周四将引领华尔街走低，这给被视为容易受到利率上升影响的行业带来了压力。</blockquote></p><p> At 8:05 a.m. ET, Dow E-minis were down 61 points, or 0.18%, S&amp;P 500 E-minis were down 9.5 points, or 0.23% and Nasdaq 100 E-minis fell 52.75 points, or 0.38%.</p><p><blockquote>截至美国东部时间上午8:05，道指E-minis下跌61点，跌幅0.18%，标普500 E-minis下跌9.5点，跌幅0.23%，纳斯达克100 E-minis下跌52.75点，跌幅0.38%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5c87220b14c23fa1ef2d424bd7883caf\" tg-width=\"584\" tg-height=\"215\"><span>*Source From Tiger Trade, EST 08:05</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源自Tiger Trade，美国东部时间08:05</span></p></blockquote></p><p> Powell said progress toward the Fed's dual employment and inflation goals were happening somewhat faster than expected. Central bankers raised their GDP expectations for this year to 7% from 6.5% previously. </p><p><blockquote>鲍威尔表示，美联储实现就业和通胀双重目标的进展速度略快于预期。各国央行行长将今年GDP预期从此前的6.5%上调至7%。</blockquote></p><p> Their unemployment rate estimate remained unchanged at 4.5%. In further evidence that the resumption of business activity has helped get people back to work, the government's latest initial jobless claims total is expected to drop to a new pandemic low of 360,000 for last week. </p><p><blockquote>他们的失业率估计维持在4.5%不变。政府最新的首次申请失业救济人数预计将降至上周36万人的疫情新低，这进一步证明商业活动的恢复有助于人们重返工作岗位。</blockquote></p><p> The report is issued at 8:30 a.m. ET Thursday. Two weeks ago, new filings for unemployment benefits went below 400,000 for the first time since March 2020.</p><p><blockquote>该报告于美国东部时间周四上午8:30发布。两周前，新申请失业救济人数自2020年3月以来首次低于40万人。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>CureVac(CVAC)</b> – CureVac shares plunged 46.2% in the premarket after the German drugmaker reported disappointing results from a study of its experimental Covid-19 vaccine. The treatment was 47% effective in a clinical trial, compared to more than 90% for other mRNA-based vaccines fromModerna(MRNA) andPfizer(PFE).</p><p><blockquote><b>CureVac(CVAC)</b>–德国制药商CureVac公布其实验性Covid-19疫苗研究结果令人失望后，该公司股价在盘前暴跌46.2%。该治疗在临床试验中的有效率为47%，而Moderna(mRNA)和辉瑞(PFE)的其他基于mRNA的疫苗的有效率超过90%。</blockquote></p><p> <b>Novavax(NVAX),BioNTech(BNTX)</b> – On the heels of the CureVac news, Novavax added 3.4% in the premarket while BioNTech rose 2.6%. BioNTech's Covid vaccine – developed in partnership with Pfizer – is already approved for use in the US, while Novavax reported 90% efficacy for its vaccine in a recent study.</p><p><blockquote><b>Novavax(NVAX)、BioNTech(BNTX)</b>–CureVac消息传出后，Novavax盘前上涨3.4%，BioNTech上涨2.6%。BioNTech与辉瑞合作开发的新冠疫苗已被批准在美国使用，而Novavax在最近的一项研究中报告其疫苗的有效性为90%。</blockquote></p><p> <b>The Honest Company(HNST)</b> – The household products maker reported a wider-than-expected loss in its first quarter as a public company, although revenue was better than analysts had anticipated. Sales got a boost from pandemic-induced demand for sanitizing products. The stock tumbled 8.3% in premarket trading.</p><p><blockquote><b>诚实公司(HNST)</b>-这家家居用品制造商报告称，作为一家上市公司，第一季度的亏损超出了预期，尽管收入好于分析师的预期。大流行引发的对消毒产品的需求提振了销售额。该股在盘前交易中下跌8.3%。</blockquote></p><p> <b>Tenet Healthcare(THC)</b> – The hospital operator's shares jumped 3.5% in the premarket, after it announced the sale of five hospitals and associated physician practices in Florida to Steward Health Care for about $1.1 billion.</p><p><blockquote><b>特尼特医疗保健(THC)</b>–该医院运营商宣布以约11亿美元的价格将佛罗里达州的五家医院和相关医生诊所出售给Steward Health Care后，其股价在盘前上涨3.5%。</blockquote></p><p> <b>Lennar(LEN)</b> – Lennar earned $2.65 per share for its latest quarter, beating the $2.36 a share consensus estimate. Revenue topped forecasts as well. The home builder is dealing with higher input costs and a labor shortage, but the lack of homes for sale in the U.S. helped push prices higher and expand Lennar's profit margins significantly over a year earlier.</p><p><blockquote><b>Lennar(LEN)</b>-Lennar最近一个季度的每股收益为2.65美元，超过了每股2.36美元的普遍预期。收入也超出了预期。该房屋建筑商正在应对更高的投入成本和劳动力短缺的问题，但美国待售房屋的缺乏帮助推高了价格，并比一年前大幅扩大了Lennar的利润率。</blockquote></p><p> <b>Dell Technologies(DELL)</b> – Dell was chosen byDish Network(DISH) to build key parts of the 5G network the satellite TV operator is building in the United States. Dish will launch 5G service in Las Vegas later this year and plans to cover 70% of the U.S. with its network by mid-2023.</p><p><blockquote><b>戴尔科技(DELL)</b>-戴尔被Dish Network(DISH)选中，为这家卫星电视运营商正在美国建设的5G网络构建关键部分。Dish将于今年晚些时候在拉斯维加斯推出5G服务，并计划到2023年中期其网络覆盖美国70%的地区。</blockquote></p><p> <b>Fisker(FSR)</b> – Fisker shares added 2.8% in the premarket after the electric vehicle maker signed a long-term manufacturing agreement withMagna International(MGA). Magna will build the Fisker Ocean electric SUV starting in November 2022.</p><p><blockquote><b>菲斯克(FSR)</b>–电动汽车制造商菲斯克(Fisker)与麦格纳国际(MGA)签署长期制造协议后，该公司股价在盘前上涨2.8%。麦格纳将于2022年11月开始生产Fisker Ocean电动SUV。</blockquote></p><p> <b>Aon(AON)</b>,Willis Towers Watson(WLTW) – The U.S. Justice Department sued to block insurance company Aon's deal to buy consulting firm Willis Towers Watson for $35 billion. The department said the combinationcould eliminate competitionin several different markets. Aon and Willis Towers said the move showed a lack of understanding of their businesses, clients and the markets in which they operate.</p><p><blockquote><b>怡安(AON)</b>威利斯韬睿惠悦(WLTW)——美国司法部提起诉讼，阻止保险公司怡安以350亿美元收购咨询公司威利斯韬睿惠悦的交易。该部门表示，此次合并可能会消除几个不同市场的竞争。怡安和威利斯大厦表示，此举表明他们对自己的业务、客户和经营所在的市场缺乏了解。</blockquote></p><p> <b>Akamai Technologies(AKAM)</b> – A variety of financial institutions, governments and airlines experienced brief website outages early Thursday. Some of the outages were linked to a failure at web services company Akamai Technologies, according to people familiar with the matter who spoke to Bloomberg. Akamai said it was aware of the issue and was working to restore service as soon as possible. Shares fell 1.5% in premarket trading.</p><p><blockquote><b>Akamai技术(AKAM)</b>-周四早些时候，多家金融机构、政府和航空公司经历了短暂的网站中断。据接受彭博采访的知情人士透露，一些中断与网络服务公司Akamai Technologies的故障有关。Akamai表示，它已经意识到了这个问题，并正在努力尽快恢复服务。股价在盘前交易中下跌1.5%。</blockquote></p><p> <b>O'Reilly Automotive(ORLY)</b> – The auto parts retailer struck a new $1.8 billion revolving credit agreement with a group of banks led byJPMorgan Chase(JPM).</p><p><blockquote><b>奥莱利汽车公司(ORLY)</b>-这家汽车零部件零售商与以摩根大通(JPM)为首的一批银行达成了一项新的18亿美元循环信贷协议。</blockquote></p><p> <b>Jack In The Box(JACK)</b> – The restaurant chain was rated \"outperform\" in new coverage at RBC Capital, which noted the stock's discounted valuation compared to its peers as well as upbeat prospects for new restaurant growth.</p><p><blockquote><b>盒子里的杰克（杰克）</b>-加拿大皇家银行资本(RBC Capital)在新的报道中将该连锁餐厅评级为“跑赢大盘”，该公司指出该股的估值较同行有所折扣，并且新餐厅增长前景乐观。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185082331","content_text":"Technology stocks were set to lead Wall Street lower on Thursday after the Federal Reserve signaled it could start tapering its massive stimulus earlier than expected, piling pressure on a sector that is seen as vulnerable to higher interest rates.\nAt 8:05 a.m. ET, Dow E-minis were down 61 points, or 0.18%, S&P 500 E-minis were down 9.5 points, or 0.23% and Nasdaq 100 E-minis fell 52.75 points, or 0.38%.\n*Source From Tiger Trade, EST 08:05\nPowell said progress toward the Fed's dual employment and inflation goals were happening somewhat faster than expected. Central bankers raised their GDP expectations for this year to 7% from 6.5% previously. \nTheir unemployment rate estimate remained unchanged at 4.5%. In further evidence that the resumption of business activity has helped get people back to work, the government's latest initial jobless claims total is expected to drop to a new pandemic low of 360,000 for last week. \nThe report is issued at 8:30 a.m. ET Thursday. Two weeks ago, new filings for unemployment benefits went below 400,000 for the first time since March 2020.\nStocks making the biggest moves in the premarket:\nCureVac(CVAC) – CureVac shares plunged 46.2% in the premarket after the German drugmaker reported disappointing results from a study of its experimental Covid-19 vaccine. The treatment was 47% effective in a clinical trial, compared to more than 90% for other mRNA-based vaccines fromModerna(MRNA) andPfizer(PFE).\nNovavax(NVAX),BioNTech(BNTX) – On the heels of the CureVac news, Novavax added 3.4% in the premarket while BioNTech rose 2.6%. BioNTech's Covid vaccine – developed in partnership with Pfizer – is already approved for use in the US, while Novavax reported 90% efficacy for its vaccine in a recent study.\nThe Honest Company(HNST) – The household products maker reported a wider-than-expected loss in its first quarter as a public company, although revenue was better than analysts had anticipated. Sales got a boost from pandemic-induced demand for sanitizing products. The stock tumbled 8.3% in premarket trading.\nTenet Healthcare(THC) – The hospital operator's shares jumped 3.5% in the premarket, after it announced the sale of five hospitals and associated physician practices in Florida to Steward Health Care for about $1.1 billion.\nLennar(LEN) – Lennar earned $2.65 per share for its latest quarter, beating the $2.36 a share consensus estimate. Revenue topped forecasts as well. The home builder is dealing with higher input costs and a labor shortage, but the lack of homes for sale in the U.S. helped push prices higher and expand Lennar's profit margins significantly over a year earlier.\nDell Technologies(DELL) – Dell was chosen byDish Network(DISH) to build key parts of the 5G network the satellite TV operator is building in the United States. Dish will launch 5G service in Las Vegas later this year and plans to cover 70% of the U.S. with its network by mid-2023.\nFisker(FSR) – Fisker shares added 2.8% in the premarket after the electric vehicle maker signed a long-term manufacturing agreement withMagna International(MGA). Magna will build the Fisker Ocean electric SUV starting in November 2022.\nAon(AON),Willis Towers Watson(WLTW) – The U.S. Justice Department sued to block insurance company Aon's deal to buy consulting firm Willis Towers Watson for $35 billion. The department said the combinationcould eliminate competitionin several different markets. Aon and Willis Towers said the move showed a lack of understanding of their businesses, clients and the markets in which they operate.\nAkamai Technologies(AKAM) – A variety of financial institutions, governments and airlines experienced brief website outages early Thursday. Some of the outages were linked to a failure at web services company Akamai Technologies, according to people familiar with the matter who spoke to Bloomberg. Akamai said it was aware of the issue and was working to restore service as soon as possible. Shares fell 1.5% in premarket trading.\nO'Reilly Automotive(ORLY) – The auto parts retailer struck a new $1.8 billion revolving credit agreement with a group of banks led byJPMorgan Chase(JPM).\nJack In The Box(JACK) – The restaurant chain was rated \"outperform\" in new coverage at RBC Capital, which noted the stock's discounted valuation compared to its peers as well as upbeat prospects for new restaurant growth.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":386,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169534766,"gmtCreate":1623842233955,"gmtModify":1634027269578,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Comment please","listText":"Comment please","text":"Comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/169534766","repostId":"1128941988","repostType":4,"repost":{"id":"1128941988","kind":"news","pubTimestamp":1623841860,"share":"https://www.laohu8.com/m/news/1128941988?lang=zh_CN&edition=full","pubTime":"2021-06-16 19:11","market":"uk","language":"en","title":"Cathay working with Airbus on single-pilot system for long-haul<blockquote>国泰航空与空客合作开发长途单飞行员系统</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128941988","media":"Reuters","summary":"PARIS (Reuters) - Cathay Pacific is working with Airbus to introduce \"reduced crew\" long-haul flight","content":"<p>PARIS (Reuters) - Cathay Pacific is working with Airbus to introduce \"reduced crew\" long-haul flights with a sole pilot in the cockpit much of the time, industry sources told Reuters.</p><p><blockquote>巴黎（路透社）-业内消息人士告诉路透社，国泰航空正在与空中客车公司合作，推出“减少机组人员”的长途航班，驾驶舱大部分时间只有一名飞行员。</blockquote></p><p> The programme, known within Airbus as Project Connect, aims to certify its A350 jet for single-pilot operations during high-altitude cruise, starting in 2025 on Cathay passenger flights, the sources said.</p><p><blockquote>消息人士称，该计划在空客内部被称为Project Connect，旨在认证其A350喷气式飞机在高空巡航期间的单飞行员操作，从2025年开始在国泰客运航班上运行。</blockquote></p><p> High hurdles remain on the path to international acceptance. Once cleared, longer flights would become possible with a pair of pilots alternating rest breaks, instead of the three or four currently needed to maintain at least two in the cockpit.</p><p><blockquote>在获得国际认可的道路上仍然存在很高的障碍。一旦获得批准，更长的飞行将成为可能，两名飞行员交替休息，而不是目前需要三到四名飞行员在驾驶舱内保持至少两名飞行员。</blockquote></p><p> That promises savings for airlines, amid uncertainty over the post-pandemic economics of intercontinental flying. But it is likely to encounter resistance from pilots already hit by mass layoffs, and safety concerns about aircraft automation.</p><p><blockquote>在大流行后洲际飞行经济存在不确定性的情况下，这有望为航空公司节省成本。但它可能会遇到已经受到大规模裁员打击的飞行员的阻力，以及对飞机自动化的安全担忧。</blockquote></p><p> Lufthansa has also worked on the single-pilot programme but currently has no plans to use it, a spokesman for the German carrier told Reuters.</p><p><blockquote>德国汉莎航空公司发言人告诉路透社，该公司也致力于单飞行员计划，但目前没有使用该计划的计划。</blockquote></p><p> Cathay Pacific Airways confirmed its involvement but said no decision had been made on eventual deployment.</p><p><blockquote>国泰航空证实了其参与，但表示尚未就最终部署做出决定。</blockquote></p><p> \"While we are engaging with Airbus in the development of the concept of reduced crew operations, we have not committed in any way to being the launch customer,\" the Hong Kong carrier said.</p><p><blockquote>这家香港航空公司表示：“虽然我们正在与空客合作开发减少机组人员运营的概念，但我们并未以任何方式承诺成为发射客户。”</blockquote></p><p> Commercial implementation would first require extensive testing, regulatory approval and pilot training with \"absolutely no compromise on safety\", Cathay said.</p><p><blockquote>国泰航空表示，商业实施首先需要广泛的测试、监管部门的批准和飞行员培训，“绝对不会损害安全性”。</blockquote></p><p> \"The appropriateness and effectiveness of any such rollout as well as (the) overall cost-benefit analysis (will) ultimately depend on how the pandemic plays out.\"</p><p><blockquote>“任何此类推出的适当性和有效性以及总体成本效益分析最终将取决于大流行的发展情况。”</blockquote></p><p> It added: \"Having said that, we will continue to engage with Airbus and to support development of the concept.\"</p><p><blockquote>它补充道：“话虽如此，我们将继续与空客合作并支持这一概念的发展。”</blockquote></p><p> Airbus has previously disclosed plans to add single-pilot capability to the A350, but the airlines' participation had not been reported. Work has resumed after the COVID-19 crisis paused the programme, Chief Test Pilot Christophe Cail said.</p><p><blockquote>空客此前曾披露过为A350增加单飞行员能力的计划，但尚未报道该航空公司的参与情况。首席试飞员Christophe Cail说，在新冠肺炎危机暂停该项目后，工作已经恢复。</blockquote></p><p> \"We've proven over decades we can enhance safety by putting the latest technology in aircraft,\" Cail told Reuters, declining to identify project partners. \"As for any design evolution, we are working with airlines.\"</p><p><blockquote>“几十年来，我们已经证明，我们可以通过将最新技术应用于飞机来提高安全性，”Cail告诉路透社，但他拒绝透露项目合作伙伴。“至于任何设计演变，我们正在与航空公司合作。”</blockquote></p><p> VITAL SIGNS</p><p><blockquote>生命体征</blockquote></p><p> Safe deployment will require constant monitoring of the solo pilot's alertness and vital signs by on-board systems, the European Union Aviation Safety Agency (EASA) has said.</p><p><blockquote>欧盟航空安全局（EASA）表示，安全部署需要机载系统持续监测单人飞行员的警觉性和生命体征。</blockquote></p><p> If the flight encounters a problem or the pilot flying is incapacitated, the resting copilot can be summoned within minutes. Both remain in the cockpit for take-off and landing.</p><p><blockquote>如果航班遇到问题或正在飞行的飞行员丧失能力，可以在几分钟内召唤正在休息的副驾驶。两人都留在驾驶舱内进行起飞和降落。</blockquote></p><p> \"Typically on long-haul flights when you're at cruise altitude there's very little happening in the cockpit,\" EASA chief Patrick Ky told a German press briefing in January.</p><p><blockquote>EASA负责人帕特里克·基(Patrick Ky)在一月份的德国新闻发布会上表示：“通常在长途航班上，当你处于巡航高度时，驾驶舱内几乎不会发生任何事情。”</blockquote></p><p> \"It makes sense to say OK, instead of having two in the cockpit, we can have one in the cockpit, the other one taking a rest, provided we're implementing technical solutions which make sure that if the single one falls asleep or has any problem, there won't be any unsafe conditions.\"</p><p><blockquote>“说好吧，我们可以让一个在驾驶舱里，另一个休息，而不是在驾驶舱里有两个，前提是我们正在实施技术解决方案，确保如果一个睡着了或者有任何问题，就不会有任何不安全的情况。”</blockquote></p><p> Pilot groups have voiced alarm.</p><p><blockquote>飞行员小组已经发出了警报。</blockquote></p><p> \"We struggle to understand the rationale,\" said Otjan de Bruijn, head of the European Cockpit Association representing EU pilots.</p><p><blockquote>“我们很难理解其中的基本原理，”代表欧盟飞行员的欧洲驾驶舱协会主席Otjan de Bruijn说。</blockquote></p><p> Invoking the 737 MAX crisis, which exposed Boeing's inappropriate links to U.S. regulators, De Bruijn said the programme's cost-cutting approach \"could lead to higher risks\".</p><p><blockquote>De Bruijn援引737 MAX危机表示，该计划的成本削减方法“可能会导致更高的风险”，该危机暴露了波音与美国监管机构的不当联系。</blockquote></p><p> Single-pilot operations, currently limited to planes with up to nine passengers, would need backing from U.N. aviation body ICAO and countries whose airspace they cross. China's support is key to any Cathay deployment.</p><p><blockquote>单飞行员操作目前仅限于最多可容纳9名乘客的飞机，需要联合国航空机构国际民航组织及其所经过领空的国家的支持。中国的支持是国泰任何部署的关键。</blockquote></p><p> EASA plans consultations this year and certification work in 2022, while acknowledging \"significant risk\" to the 2025 launch date, a spokesman said.</p><p><blockquote>一位发言人表示，EASA计划今年进行磋商，2022年进行认证工作，同时承认2025年发射日期存在“重大风险”。</blockquote></p><p> In a closed-door industry briefing this year, the agency suggested reduced-crew flights would begin with a single operator, according to notes of the meeting reviewed by Reuters.</p><p><blockquote>根据路透社查阅的会议记录，在今年的一次闭门行业简报中，该机构建议减少机组人员的航班将从单一运营商开始。</blockquote></p><p> EMERGENCY DESCENT</p><p><blockquote>紧急下降</blockquote></p><p> Airbus has designed an A350 autopilot upgrade and flight warning system changes to help a lone pilot manage failures, sources close to the project said.</p><p><blockquote>接近该项目的消息人士称，空中客车公司设计了A350自动驾驶仪升级和飞行警告系统变更，以帮助孤独的飞行员管理故障。</blockquote></p><p> The mid-sized plane is suitable because of its \"emergency descent\" feature that quickly reduces altitude without pilot input in the event of cabin depressurisation.</p><p><blockquote>中型飞机是合适的，因为它的“紧急下降”功能，在机舱减压的情况下，无需飞行员输入即可快速降低高度。</blockquote></p><p> Proponents suggest single-pilot operations may be accepted by a flying public used to crew leaving the cockpit for bathroom breaks. They also point to higher error rates from human pilots than automated systems.</p><p><blockquote>支持者建议，习惯机组人员离开驾驶舱去洗手间休息的飞行公众可能会接受单飞行员操作。他们还指出，人类飞行员的错误率高于自动化系统。</blockquote></p><p> Both arguments miss the point, according to a source close to Lufthansa - who said the airline's executives were advised last year that the programme could not meet safety goals.</p><p><blockquote>据一位接近汉莎航空的消息人士称，这两种说法都没有抓住要点，他表示，该航空公司的高管去年被告知该计划无法达到安全目标。</blockquote></p><p></p><p> Flying solo for hours is a \"completely different story\", the source said, citing the 2009 AF447 disaster as an example of malfunctions occurring in cruise. The Air France A330's copilots lost control after its speed sensors failed over the Atlantic, while the captain was resting.</p><p><blockquote>消息人士称，单飞数小时是“完全不同的故事”，并引用2009年AF447灾难作为巡航中发生故障的例子。法航A330的副驾驶在大西洋上空速度传感器出现故障后失去控制，当时机长正在休息。</blockquote></p><p> \"Airbus would have had to make sure every situation can be handled autonomously without any pilot input for 15 minutes,\" the source said. \"And that couldn't be guaranteed.\"</p><p><blockquote>消息人士称：“空客必须确保每种情况都可以在15分钟内在没有任何飞行员输入的情况下自主处理。”“这是无法保证的。”</blockquote></p><p> Lufthansa has not withdrawn from Project Connect and remains involved as an adviser, its spokesman said.</p><p><blockquote>汉莎航空发言人表示，汉莎航空尚未退出Project Connect，仍作为顾问参与其中。</blockquote></p><p> While the airline has no plans to deploy single-pilot operations, he added, \"the suggestion that Lufthansa was an essential part of the project and then pulled back is not true.\"</p><p><blockquote>他补充说，虽然该航空公司没有部署单飞行员运营的计划，但“汉莎航空是该项目的重要组成部分然后又撤回的说法并不属实。”</blockquote></p><p> Single-pilot capability would add an A350 sales argument, experts say, and rival Boeing lacks an equivalent model with sufficient automation.</p><p><blockquote>专家表示，单飞行员能力将增加A350的销售理由，而竞争对手波音公司缺乏具有足够自动化的同等型号。</blockquote></p><p> Filippo Tomasello, a former EASA official, said the payroll and accommodation savings for long-haul crew would not be lost on airlines.</p><p><blockquote>前EASA官员Filippo Tomasello表示，航空公司不会损失长途机组人员的工资和住宿节省。</blockquote></p><p> \"COVID may end up accelerating this evolution because it's putting tremendous economic pressure on aviation,\" Tomasello predicted.</p><p><blockquote>托马塞洛预测：“新冠疫情最终可能会加速这种演变，因为它给航空业带来了巨大的经济压力。”</blockquote></p><p> \"If EASA certifies this solution, airlines will use it.\"</p><p><blockquote>“如果EASA认证了这个解决方案，航空公司就会使用它。”</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nCathay working with Airbus on single-pilot system for long-haul<blockquote>国泰航空与空客合作开发长途单飞行员系统</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-06-16 19:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p>PARIS (Reuters) - Cathay Pacific is working with Airbus to introduce \"reduced crew\" long-haul flights with a sole pilot in the cockpit much of the time, industry sources told Reuters.</p><p><blockquote>巴黎（路透社）-业内消息人士告诉路透社，国泰航空正在与空中客车公司合作，推出“减少机组人员”的长途航班，驾驶舱大部分时间只有一名飞行员。</blockquote></p><p> The programme, known within Airbus as Project Connect, aims to certify its A350 jet for single-pilot operations during high-altitude cruise, starting in 2025 on Cathay passenger flights, the sources said.</p><p><blockquote>消息人士称，该计划在空客内部被称为Project Connect，旨在认证其A350喷气式飞机在高空巡航期间的单飞行员操作，从2025年开始在国泰客运航班上运行。</blockquote></p><p> High hurdles remain on the path to international acceptance. Once cleared, longer flights would become possible with a pair of pilots alternating rest breaks, instead of the three or four currently needed to maintain at least two in the cockpit.</p><p><blockquote>在获得国际认可的道路上仍然存在很高的障碍。一旦获得批准，更长的飞行将成为可能，两名飞行员交替休息，而不是目前需要三到四名飞行员在驾驶舱内保持至少两名飞行员。</blockquote></p><p> That promises savings for airlines, amid uncertainty over the post-pandemic economics of intercontinental flying. But it is likely to encounter resistance from pilots already hit by mass layoffs, and safety concerns about aircraft automation.</p><p><blockquote>在大流行后洲际飞行经济存在不确定性的情况下，这有望为航空公司节省成本。但它可能会遇到已经受到大规模裁员打击的飞行员的阻力，以及对飞机自动化的安全担忧。</blockquote></p><p> Lufthansa has also worked on the single-pilot programme but currently has no plans to use it, a spokesman for the German carrier told Reuters.</p><p><blockquote>德国汉莎航空公司发言人告诉路透社，该公司也致力于单飞行员计划，但目前没有使用该计划的计划。</blockquote></p><p> Cathay Pacific Airways confirmed its involvement but said no decision had been made on eventual deployment.</p><p><blockquote>国泰航空证实了其参与，但表示尚未就最终部署做出决定。</blockquote></p><p> \"While we are engaging with Airbus in the development of the concept of reduced crew operations, we have not committed in any way to being the launch customer,\" the Hong Kong carrier said.</p><p><blockquote>这家香港航空公司表示：“虽然我们正在与空客合作开发减少机组人员运营的概念，但我们并未以任何方式承诺成为发射客户。”</blockquote></p><p> Commercial implementation would first require extensive testing, regulatory approval and pilot training with \"absolutely no compromise on safety\", Cathay said.</p><p><blockquote>国泰航空表示，商业实施首先需要广泛的测试、监管部门的批准和飞行员培训，“绝对不会损害安全性”。</blockquote></p><p> \"The appropriateness and effectiveness of any such rollout as well as (the) overall cost-benefit analysis (will) ultimately depend on how the pandemic plays out.\"</p><p><blockquote>“任何此类推出的适当性和有效性以及总体成本效益分析最终将取决于大流行的发展情况。”</blockquote></p><p> It added: \"Having said that, we will continue to engage with Airbus and to support development of the concept.\"</p><p><blockquote>它补充道：“话虽如此，我们将继续与空客合作并支持这一概念的发展。”</blockquote></p><p> Airbus has previously disclosed plans to add single-pilot capability to the A350, but the airlines' participation had not been reported. Work has resumed after the COVID-19 crisis paused the programme, Chief Test Pilot Christophe Cail said.</p><p><blockquote>空客此前曾披露过为A350增加单飞行员能力的计划，但尚未报道该航空公司的参与情况。首席试飞员Christophe Cail说，在新冠肺炎危机暂停该项目后，工作已经恢复。</blockquote></p><p> \"We've proven over decades we can enhance safety by putting the latest technology in aircraft,\" Cail told Reuters, declining to identify project partners. \"As for any design evolution, we are working with airlines.\"</p><p><blockquote>“几十年来，我们已经证明，我们可以通过将最新技术应用于飞机来提高安全性，”Cail告诉路透社，但他拒绝透露项目合作伙伴。“至于任何设计演变，我们正在与航空公司合作。”</blockquote></p><p> VITAL SIGNS</p><p><blockquote>生命体征</blockquote></p><p> Safe deployment will require constant monitoring of the solo pilot's alertness and vital signs by on-board systems, the European Union Aviation Safety Agency (EASA) has said.</p><p><blockquote>欧盟航空安全局（EASA）表示，安全部署需要机载系统持续监测单人飞行员的警觉性和生命体征。</blockquote></p><p> If the flight encounters a problem or the pilot flying is incapacitated, the resting copilot can be summoned within minutes. Both remain in the cockpit for take-off and landing.</p><p><blockquote>如果航班遇到问题或正在飞行的飞行员丧失能力，可以在几分钟内召唤正在休息的副驾驶。两人都留在驾驶舱内进行起飞和降落。</blockquote></p><p> \"Typically on long-haul flights when you're at cruise altitude there's very little happening in the cockpit,\" EASA chief Patrick Ky told a German press briefing in January.</p><p><blockquote>EASA负责人帕特里克·基(Patrick Ky)在一月份的德国新闻发布会上表示：“通常在长途航班上，当你处于巡航高度时，驾驶舱内几乎不会发生任何事情。”</blockquote></p><p> \"It makes sense to say OK, instead of having two in the cockpit, we can have one in the cockpit, the other one taking a rest, provided we're implementing technical solutions which make sure that if the single one falls asleep or has any problem, there won't be any unsafe conditions.\"</p><p><blockquote>“说好吧，我们可以让一个在驾驶舱里，另一个休息，而不是在驾驶舱里有两个，前提是我们正在实施技术解决方案，确保如果一个睡着了或者有任何问题，就不会有任何不安全的情况。”</blockquote></p><p> Pilot groups have voiced alarm.</p><p><blockquote>飞行员小组已经发出了警报。</blockquote></p><p> \"We struggle to understand the rationale,\" said Otjan de Bruijn, head of the European Cockpit Association representing EU pilots.</p><p><blockquote>“我们很难理解其中的基本原理，”代表欧盟飞行员的欧洲驾驶舱协会主席Otjan de Bruijn说。</blockquote></p><p> Invoking the 737 MAX crisis, which exposed Boeing's inappropriate links to U.S. regulators, De Bruijn said the programme's cost-cutting approach \"could lead to higher risks\".</p><p><blockquote>De Bruijn援引737 MAX危机表示，该计划的成本削减方法“可能会导致更高的风险”，该危机暴露了波音与美国监管机构的不当联系。</blockquote></p><p> Single-pilot operations, currently limited to planes with up to nine passengers, would need backing from U.N. aviation body ICAO and countries whose airspace they cross. China's support is key to any Cathay deployment.</p><p><blockquote>单飞行员操作目前仅限于最多可容纳9名乘客的飞机，需要联合国航空机构国际民航组织及其所经过领空的国家的支持。中国的支持是国泰任何部署的关键。</blockquote></p><p> EASA plans consultations this year and certification work in 2022, while acknowledging \"significant risk\" to the 2025 launch date, a spokesman said.</p><p><blockquote>一位发言人表示，EASA计划今年进行磋商，2022年进行认证工作，同时承认2025年发射日期存在“重大风险”。</blockquote></p><p> In a closed-door industry briefing this year, the agency suggested reduced-crew flights would begin with a single operator, according to notes of the meeting reviewed by Reuters.</p><p><blockquote>根据路透社查阅的会议记录，在今年的一次闭门行业简报中，该机构建议减少机组人员的航班将从单一运营商开始。</blockquote></p><p> EMERGENCY DESCENT</p><p><blockquote>紧急下降</blockquote></p><p> Airbus has designed an A350 autopilot upgrade and flight warning system changes to help a lone pilot manage failures, sources close to the project said.</p><p><blockquote>接近该项目的消息人士称，空中客车公司设计了A350自动驾驶仪升级和飞行警告系统变更，以帮助孤独的飞行员管理故障。</blockquote></p><p> The mid-sized plane is suitable because of its \"emergency descent\" feature that quickly reduces altitude without pilot input in the event of cabin depressurisation.</p><p><blockquote>中型飞机是合适的，因为它的“紧急下降”功能，在机舱减压的情况下，无需飞行员输入即可快速降低高度。</blockquote></p><p> Proponents suggest single-pilot operations may be accepted by a flying public used to crew leaving the cockpit for bathroom breaks. They also point to higher error rates from human pilots than automated systems.</p><p><blockquote>支持者建议，习惯机组人员离开驾驶舱去洗手间休息的飞行公众可能会接受单飞行员操作。他们还指出，人类飞行员的错误率高于自动化系统。</blockquote></p><p> Both arguments miss the point, according to a source close to Lufthansa - who said the airline's executives were advised last year that the programme could not meet safety goals.</p><p><blockquote>据一位接近汉莎航空的消息人士称，这两种说法都没有抓住要点，他表示，该航空公司的高管去年被告知该计划无法达到安全目标。</blockquote></p><p></p><p> Flying solo for hours is a \"completely different story\", the source said, citing the 2009 AF447 disaster as an example of malfunctions occurring in cruise. The Air France A330's copilots lost control after its speed sensors failed over the Atlantic, while the captain was resting.</p><p><blockquote>消息人士称，单飞数小时是“完全不同的故事”，并引用2009年AF447灾难作为巡航中发生故障的例子。法航A330的副驾驶在大西洋上空速度传感器出现故障后失去控制，当时机长正在休息。</blockquote></p><p> \"Airbus would have had to make sure every situation can be handled autonomously without any pilot input for 15 minutes,\" the source said. \"And that couldn't be guaranteed.\"</p><p><blockquote>消息人士称：“空客必须确保每种情况都可以在15分钟内在没有任何飞行员输入的情况下自主处理。”“这是无法保证的。”</blockquote></p><p> Lufthansa has not withdrawn from Project Connect and remains involved as an adviser, its spokesman said.</p><p><blockquote>汉莎航空发言人表示，汉莎航空尚未退出Project Connect，仍作为顾问参与其中。</blockquote></p><p> While the airline has no plans to deploy single-pilot operations, he added, \"the suggestion that Lufthansa was an essential part of the project and then pulled back is not true.\"</p><p><blockquote>他补充说，虽然该航空公司没有部署单飞行员运营的计划，但“汉莎航空是该项目的重要组成部分然后又撤回的说法并不属实。”</blockquote></p><p> Single-pilot capability would add an A350 sales argument, experts say, and rival Boeing lacks an equivalent model with sufficient automation.</p><p><blockquote>专家表示，单飞行员能力将增加A350的销售理由，而竞争对手波音公司缺乏具有足够自动化的同等型号。</blockquote></p><p> Filippo Tomasello, a former EASA official, said the payroll and accommodation savings for long-haul crew would not be lost on airlines.</p><p><blockquote>前EASA官员Filippo Tomasello表示，航空公司不会损失长途机组人员的工资和住宿节省。</blockquote></p><p> \"COVID may end up accelerating this evolution because it's putting tremendous economic pressure on aviation,\" Tomasello predicted.</p><p><blockquote>托马塞洛预测：“新冠疫情最终可能会加速这种演变，因为它给航空业带来了巨大的经济压力。”</blockquote></p><p> \"If EASA certifies this solution, airlines will use it.\"</p><p><blockquote>“如果EASA认证了这个解决方案，航空公司就会使用它。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/exclusive-cathay-working-airbus-single-110037523.html\">Reuters</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":{"0KVV.UK":"空中客车集团"},"source_url":"https://finance.yahoo.com/news/exclusive-cathay-working-airbus-single-110037523.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128941988","content_text":"PARIS (Reuters) - Cathay Pacific is working with Airbus to introduce \"reduced crew\" long-haul flights with a sole pilot in the cockpit much of the time, industry sources told Reuters.\nThe programme, known within Airbus as Project Connect, aims to certify its A350 jet for single-pilot operations during high-altitude cruise, starting in 2025 on Cathay passenger flights, the sources said.\nHigh hurdles remain on the path to international acceptance. Once cleared, longer flights would become possible with a pair of pilots alternating rest breaks, instead of the three or four currently needed to maintain at least two in the cockpit.\nThat promises savings for airlines, amid uncertainty over the post-pandemic economics of intercontinental flying. But it is likely to encounter resistance from pilots already hit by mass layoffs, and safety concerns about aircraft automation.\nLufthansa has also worked on the single-pilot programme but currently has no plans to use it, a spokesman for the German carrier told Reuters.\nCathay Pacific Airways confirmed its involvement but said no decision had been made on eventual deployment.\n\"While we are engaging with Airbus in the development of the concept of reduced crew operations, we have not committed in any way to being the launch customer,\" the Hong Kong carrier said.\nCommercial implementation would first require extensive testing, regulatory approval and pilot training with \"absolutely no compromise on safety\", Cathay said.\n\"The appropriateness and effectiveness of any such rollout as well as (the) overall cost-benefit analysis (will) ultimately depend on how the pandemic plays out.\"\nIt added: \"Having said that, we will continue to engage with Airbus and to support development of the concept.\"\nAirbus has previously disclosed plans to add single-pilot capability to the A350, but the airlines' participation had not been reported. Work has resumed after the COVID-19 crisis paused the programme, Chief Test Pilot Christophe Cail said.\n\"We've proven over decades we can enhance safety by putting the latest technology in aircraft,\" Cail told Reuters, declining to identify project partners. \"As for any design evolution, we are working with airlines.\"\nVITAL SIGNS\nSafe deployment will require constant monitoring of the solo pilot's alertness and vital signs by on-board systems, the European Union Aviation Safety Agency (EASA) has said.\nIf the flight encounters a problem or the pilot flying is incapacitated, the resting copilot can be summoned within minutes. Both remain in the cockpit for take-off and landing.\n\"Typically on long-haul flights when you're at cruise altitude there's very little happening in the cockpit,\" EASA chief Patrick Ky told a German press briefing in January.\n\"It makes sense to say OK, instead of having two in the cockpit, we can have one in the cockpit, the other one taking a rest, provided we're implementing technical solutions which make sure that if the single one falls asleep or has any problem, there won't be any unsafe conditions.\"\nPilot groups have voiced alarm.\n\"We struggle to understand the rationale,\" said Otjan de Bruijn, head of the European Cockpit Association representing EU pilots.\nInvoking the 737 MAX crisis, which exposed Boeing's inappropriate links to U.S. regulators, De Bruijn said the programme's cost-cutting approach \"could lead to higher risks\".\nSingle-pilot operations, currently limited to planes with up to nine passengers, would need backing from U.N. aviation body ICAO and countries whose airspace they cross. China's support is key to any Cathay deployment.\nEASA plans consultations this year and certification work in 2022, while acknowledging \"significant risk\" to the 2025 launch date, a spokesman said.\nIn a closed-door industry briefing this year, the agency suggested reduced-crew flights would begin with a single operator, according to notes of the meeting reviewed by Reuters.\nEMERGENCY DESCENT\nAirbus has designed an A350 autopilot upgrade and flight warning system changes to help a lone pilot manage failures, sources close to the project said.\nThe mid-sized plane is suitable because of its \"emergency descent\" feature that quickly reduces altitude without pilot input in the event of cabin depressurisation.\nProponents suggest single-pilot operations may be accepted by a flying public used to crew leaving the cockpit for bathroom breaks. They also point to higher error rates from human pilots than automated systems.\nBoth arguments miss the point, according to a source close to Lufthansa - who said the airline's executives were advised last year that the programme could not meet safety goals.\nFlying solo for hours is a \"completely different story\", the source said, citing the 2009 AF447 disaster as an example of malfunctions occurring in cruise. The Air France A330's copilots lost control after its speed sensors failed over the Atlantic, while the captain was resting.\n\"Airbus would have had to make sure every situation can be handled autonomously without any pilot input for 15 minutes,\" the source said. \"And that couldn't be guaranteed.\"\nLufthansa has not withdrawn from Project Connect and remains involved as an adviser, its spokesman said.\nWhile the airline has no plans to deploy single-pilot operations, he added, \"the suggestion that Lufthansa was an essential part of the project and then pulled back is not true.\"\nSingle-pilot capability would add an A350 sales argument, experts say, and rival Boeing lacks an equivalent model with sufficient automation.\nFilippo Tomasello, a former EASA official, said the payroll and accommodation savings for long-haul crew would not be lost on airlines.\n\"COVID may end up accelerating this evolution because it's putting tremendous economic pressure on aviation,\" Tomasello predicted.\n\"If EASA certifies this solution, airlines will use it.\"","news_type":1,"symbols_score_info":{"EADSF":0.9,"0KVV.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115851088,"gmtCreate":1622975799244,"gmtModify":1634096454871,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/115851088","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohu8.com/m/news/1106312903?lang=zh_CN&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</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 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi 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3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</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>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</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\">2021-06-05 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</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 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi 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3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">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":{".DJI":"道琼斯","LFST":"LifeStance Health Group, Inc.","BZ":"BOSS直聘","MNDY":"Monday.com Ltd.","ZETA":"Zeta Global Holdings Corp.",".SPX":"S&P 500 Index","MQ":"Marqeta, Inc.","ZME":"掌门教育","DIBS":"1stdibs.com Inc.","TASK":"TaskUs Inc.",".IXIC":"NASDAQ Composite"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{"BZ":0.9,"MNDY":0.9,"ZETA":0.9,"TASK":0.9,".IXIC":0.9,"ZME":0.9,".SPX":0.9,"DIBS":0.9,".DJI":0.9,"MQ":0.9,"LFST":0.9}},"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837401894,"gmtCreate":1629902895418,"gmtModify":1633681584668,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/837401894","repostId":"2162087564","repostType":4,"isVote":1,"tweetType":1,"viewCount":408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898441241,"gmtCreate":1628519055783,"gmtModify":1633746492576,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/898441241","repostId":"1141877175","repostType":4,"isVote":1,"tweetType":1,"viewCount":372,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185563667,"gmtCreate":1623660565459,"gmtModify":1634030518503,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/185563667","repostId":"1146430910","repostType":4,"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835431719,"gmtCreate":1629730644631,"gmtModify":1633682853802,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/835431719","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":446,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148557489,"gmtCreate":1625993669741,"gmtModify":1633931025009,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148557489","repostId":"1112201050","repostType":4,"repost":{"id":"1112201050","kind":"news","pubTimestamp":1625966101,"share":"https://www.laohu8.com/m/news/1112201050?lang=zh_CN&edition=full","pubTime":"2021-07-11 09:15","market":"us","language":"en","title":"The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112201050","media":"Barrons","summary":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the de","content":"<p>It seemed to be only a matter of time.</p><p><blockquote>这似乎只是时间问题。</blockquote></p><p> When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p><p><blockquote>当游戏驿站（股票代码：GME）、黑莓（BB），甚至百视达（Blockbuster）的干涸尸体在一月份突然复活时，他们再次崩溃的时间已经在滴答作响。是几个小时、几天还是几周？</blockquote></p><p> It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p><p><blockquote>现在已经半年了，核心“模因股”的交易水平仍然被研究它们多年的人认为令人发指。Clover Health Investments(CLOV)和Newegg Commerce(NEGG)等新名字最近出现在留言板上，它们的股票也随之上涨。</blockquote></p><p> The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p><p><blockquote>数百万散户交易者——长期以来被嘲笑为“愚蠢的钱”——的集体努力成功地保持了股票的高位，并迫使反对者投降。</blockquote></p><p> That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p><p><blockquote>尽管他们押注的公司几乎没有表现出业务转型或扭亏为盈的迹象，但情况确实如此。黑莓在最近一个季度烧钱，并警告其关键的网络安全部门将触及收入指引的低端；消息传出后，该股下跌，但在过去一年中仍上涨了一倍多。</blockquote></p><p> While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p><p><blockquote>尽管大型经纪商的交易量较2月份的峰值略有下降，但仍是大流行前的两到三倍。散户交易者青睐的股票中发生了数量惊人的此类活动。例如，AMC院线控股公司(AMC)6月份股票日均交易价值达到131亿美元，超过苹果(AAPL)的95亿美元和亚马逊(AMZN)的103亿美元。</blockquote></p><p> Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p><p><blockquote>即使冠状病毒在美国消退，大多数新交易者表示，他们仍致力于他们在封锁期间学到的爱好——在一项Betterment调查中，58%的日内交易者表示，他们计划在未来进行更多交易，只有12%的人计划减少交易。业余疫情面包师已经停止揉酸面团面包；交易者只会越来越饥渴。</blockquote></p><p> A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p><p><blockquote>持续的熊市会破坏这种胃口，就像互联网泡沫破裂时一样。就目前而言，下跌是持有或买入的理由。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p><p><blockquote></blockquote></p><p> “I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p><p><blockquote>“我发现‘逢低买入’的情绪一刻也没有减弱，”与朋友在线交易的美国海军电子技术员布兰登·卢泽克(Brandon Luczek)在给《巴伦周刊》的电子邮件中写道。</blockquote></p><p> The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p><p><blockquote>散户投资者交易量的增加推动了模因股票的飙升。2020年，在线经纪商以创纪录的速度签约客户，新开户人数超过1000万人。这一纪录几乎肯定会在2021年被打破。一些顶级公司透露，今年不到一半，经纪商就已经增加了超过1000万个账户。</blockquote></p><p> Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p><p><blockquote>模因股票既是这一现象的马车，也是马。它们的价格突然飙升是由新投资者推动的，然后这种行为会推动更多的新人投资。数百万人在一月底和二月初下载了投资应用程序，只是为了享受乐趣。嘉信理财(SCHW)最近的一项调查发现，15%的当前交易者在2020年之后开始投资。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p><p><blockquote></blockquote></p><p> The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p><p><blockquote>这一激增中最突出的参与者是Robinhood，该公司表示仅在第一季度就增加了550万个受资助账户。但它并不孤单。例如，富达宣布第一季度吸引了160万35岁以下的新客户，比去年同期增长了223%。</blockquote></p><p> Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p><p><blockquote>在Robinhood零佣金模式的压力下，所有主要经纪商都在2019年将佣金降至零。这为新的客户群体打开了闸门——他们可能没有那么多闲钱可供交易，但比前辈更加活跃和多样化。经纪人正在兑现。富达希望在投资者拥有驾驶执照之前就吸引他们，允许年仅13岁的儿童开设交易账户。Robinhood正在乘势进行首次公开募股，分析师预计其估值将超过其收入的10倍。</blockquote></p><p> These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p><p><blockquote>这些新客户的行为与老客户不同。E*Trade（现归摩根士丹利(MS)所有）交易主管克里斯·拉金(Chris Larkin)表示，多年来，“ETF的吸引力很大”。但挑选个股显然是“2021年的大新闻”。</blockquote></p><p> To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p><p><blockquote>可以肯定的是，股票交易所交易基金仍然表现良好，因为世界各地的投资者都押注于疫情复苏，并避免债券收益率疲软。</blockquote></p><p></p><p> But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p><p><blockquote>但ETF不像股票那样点亮留言板。对于顶级品牌来说，这并不是单程旅行。游戏驿站确实在二月份下跌，华尔街享受了一段幸灾乐祸的时刻。这并没有持续多久。</blockquote></p><p> “Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p><p><blockquote>盈透证券(Interactive Brokers)首席策略师史蒂夫·索斯尼克(Steve Sosnick)写道：“就像蝉一样，模因交易者在看似地下几个月后，又以疯狂的活动回归。”索斯尼克认为，模因股票的交易往往与加密货币相反，因为随着势头的变化，它们的粉丝会从一种股票转向另一种股票。</blockquote></p><p> “I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p><p><blockquote>他写道：“我认为，在比特币和其他加密货币大幅调整后，模因股票重新焕发生机，这绝非巧合。”</blockquote></p><p> Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p><p><blockquote>索斯尼克认为模因股票是一个“独立的行业”，他在电脑显示器上将其与其他股票代码分开。</blockquote></p><p> Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p><p><blockquote>事实上，华尔街对模因股票革命的反应是孤立市场中专业人士认为非理性的部分。大多数卖空者不会碰这些股票，分析师也放弃了报道。</blockquote></p><p> But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p><p><blockquote>但华尔街不能像蝉一样将零售大军赶走，也不能指望它们在未来17年消失。股票交易已经永久转移。今年，零售活动占股本的24%，高于2019年的15%。新信条的追随者并不是愿意让华尔街管理市场的被动观察者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p><p><blockquote></blockquote></p><p> “What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p><p><blockquote>哥伦比亚法学院证券市场教授乔舒亚·米茨（Joshua Mits）说，“这真正反映了我们看到的与个别公司的接触越来越少的趋势的逆转。”“技术正在拉近普通投资者与他或她投资的公司的距离，而这只是以新的、不可预测的形式出现。”</blockquote></p><p> The swings you get can definitely make you feel some sort of way.</p><p><blockquote>你得到的秋千肯定会让你有某种感觉。</blockquote></p><p> — Matt Kohrs, 26, who streams stock analysis daily on YouTube</p><p><blockquote>——Matt Kohrs，26岁，每天在YouTube上播放股票分析</blockquote></p><p> It is now changing the lives of those who got in early and are still riding the names higher.</p><p><blockquote>它现在正在改变那些早期进入的人的生活，并且仍然名气更高。</blockquote></p><p> Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p><p><blockquote>以马特·科尔斯（Matt Kohrs）为例，他很早就投资了AMC院线。今年2月，他辞去了在纽约的程序员工作，搬到了费城，并开始每天在YouTube上播放7个小时的股票分析。</blockquote></p><p> With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p><p><blockquote>它在YouTube上拥有35万粉丝，正在支付账单。科尔斯表示，凭借广告和股票的收入，他可以降低与以前大致相同的工资。但他也知道，像这样依赖股票的收益与朝九晚五的工作完全不同。</blockquote></p><p> “The swings you get can definitely make you feel some sort of way,” he says.</p><p><blockquote>“你得到的挥杆肯定会让你有某种感觉，”他说。</blockquote></p><p> Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p><p><blockquote>公司也开始做出更积极的反应。他们要么拥抱他们的新主人，要么付钱给模因学家来理解新华尔街充满表情符号的语言，这样他们就可以避开他们或安抚他们。</blockquote></p><p> AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p><p><blockquote>AMC甚至在过去一周取消了拟议的股权融资，因为该公司显然不喜欢Reddit人群的氛围。过去一年，AMC的股票数量已经增加了五倍。首席执行官Adam Aron在推特上表示，他看到了对他增发2500万股股票的提议“许多是，许多不是”的反应，因此该提议将被取消，而不是在本月晚些时候的AMC年会上进行投票。该公司没有回应有关如何对股东进行民意调查的问题。</blockquote></p><p> Forget the boardroom. Corporate policy is now being determined in the chat room.</p><p><blockquote>忘了会议室吧。公司政策现在正在聊天室中确定。</blockquote></p><p> Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p><p><blockquote>大投资者花更多时间跟踪社交媒体上有关股票的讨论。美国银行在今年的一项调查中发现，大约25%的机构已经在跟踪社交媒体情绪，但大约40%的机构有兴趣在未来使用它。</blockquote></p><p> In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p><p><blockquote>在过去的几个月里，美国银行、摩根士丹利和摩根大通都发布了关于如何围绕散户行为进行交易的报告，得出了有些不同的结论。</blockquote></p><p> There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p><p><blockquote>正如摩根士丹利所说，信号中可能存在“阿尔法”，但可能需要一些激烈的数字运算才能达到这一目标。当然，并非所有留言板上的喋喋不休都会导致价格持续上涨，而且在没有大量数据分析的情况下，零售订单流无法轻易与机构订单流分开。对于拥有工具来确定散户投资者正在买入和卖出哪些股票的投资者，摩根大通建议做多买入兴趣最高的20%的股票，做空卖出兴趣最高的20%的股票。</blockquote></p><p> For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p><p><blockquote>提供跟踪社交媒体情绪产品的另类数据公司Thinknum的鲍里斯·斯皮瓦克(Boris Spiwak)表示，目前，许多购买社交媒体情绪数据的机构似乎都在试图降低风险，而不是寻找新的机会。“他们认为这几乎就像一份保险单，以限制他们的下行风险，”他说。</blockquote></p><p></p><p> For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p><p><blockquote>对于散户来说，这种方法并不总是科学的。这一行动得到了社区精神的支持。其背后的力量既是经济上的，也是情感上的和道德上的。</blockquote></p><p> New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p><p><blockquote>新投资者表示，他们的动机是证明自己和惩罚保守派的愿望，就像利润一样。他们互相了解市场，有时会放大或揭穿有关华尔街的阴谋论。一些人将模因股票走势与2008年金融危机引发的对大型金融机构的持续不信任联系起来。</blockquote></p><p> “Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p><p><blockquote>“华尔街让我们的经济陷入瘫痪，没有人因此惹上麻烦，”26岁的科尔斯说。“所以，我认为他们认为这不仅可以让我们赚钱，还可以让华尔街的这些对冲基金付钱。”</blockquote></p><p> Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p><p><blockquote>克莱尔·赫希伯格(Claire Hirschberg)是一名28岁的工会组织者，她在从朋友那里听说此事后，于1月份在Robinhood上购买了价值约50美元的游戏驿站股票。她喜欢这个想法，但真正让她兴奋的是她父亲的反应，他父亲是一位长期的资金经理。“他对我买下游戏驿站并拒绝出售感到非常生气，”她笑着说。“这让我想永远拥有它。”</blockquote></p><p> Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p><p><blockquote>就像旧华尔街有仪式和准则一样，新华尔街也有。一位新的投资银行员工很快就会知道，直到你成为合伙人后，你才会戴菲拉格慕领带。在总经理离开之前，你永远不会离开办公室，你也不会抱怨工作时间。坏人是监管者和参议员伊丽莎白·沃伦，而不是这个顺序。</blockquote></p><p> The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p><p><blockquote>新的交易台——数百万零售交易者现在使用的应用程序和他们聚集的留言板——也有潜规则。公开承认经济损失是一种勇敢的行为，是内部坚韧和对集团信念的证明。你不把自己当回事，也不监管语言。你是“猿”或“弱智”大军的一员。你坚持住了崩溃，即使这意味着你可能会失去一切。坏人依次是卖空者、做市商和华尔街精英。</blockquote></p><p> The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p><p><blockquote>群体行动不仅仅是为了道义上的支持。交易策略取决于人们保持购买压力以迫使空头挤压或购买看涨期权，从而触发所谓的伽马挤压。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p><p><blockquote><p class=\"t-img-caption\"><span>基思·吉尔(Keith Gill)二月份几乎出现在众议院金融服务委员会听证会上，成为Reddit零售交易员大军的代言人，推动游戏驿站股价走高。</span></p></blockquote></p><p> Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p><p><blockquote>许多卖空者表示，他们不会再碰这些股票了。但显然，其他人并没有采纳这一建议，而是通过反复做空股票来为模因运动提供氧气。6月中旬，AMC的空头利息占该股流通量的17%，低于1月份的28%，但幅度不大。</blockquote></p><p> As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p><p><blockquote>随着价格的上涨，空头们也身不由己。Wedbush Securities分析师Michael Pachter表示，他们开始“流口水，耳朵里冒出火焰”，多年来一直关注游戏驿站。“让我有点震惊的是精神错乱的定义，即一遍又一遍地做同样的事情，每次都希望有不同的结果，而空头不断回来，”他说。“[游戏驿站公牛]基思·吉尔和他的Reddit攻略不断挤压他们，而且它一直在发挥作用。”</blockquote></p><p> To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p><p><blockquote>为了击败卖空者，Reddit人群需要团结一致，但社区有时会出现裂痕。拥有最坚定粉丝群的两只模因股票——游戏驿站和AMC——仍然拥有庞大的核心信徒大军，他们似乎不容易动摇。但其他名字似乎有更多善变的支持者。几只陷入迷因疯狂的股票已经暴跌。Bed Bath&amp;Beyond(BBBY)在1月底和6月初两次飙升，但现在的交易价格仅略高于1月中旬的水平。在上涨期间买入的人亏损了。</blockquote></p><p> Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p><p><blockquote>不信任已经蔓延，一些交易员担心wallstreetbets——最初引发游戏驿站狂热的Reddit留言板——发展如此之快，以至于失去了最初的精神，并可能变得容易受到操纵。一些人已经转移到其他留言板，如r/superstonk，希望恢复旧社区的风味。</blockquote></p><p> Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p><p><blockquote>社交媒体跟踪公司Hype Equity的创始人特拉维斯·雷尔(Travis Rehl)表示，他试图将可能的操纵者与更有机的投资者情绪区分开来。他说，炒作股权通常是由代表网上谈论的公司的公关公司雇佣的。现在，他看到越来越多的股票突然出现在留言板上，收到积极的议论，然后消失。</blockquote></p><p></p><p> “It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p><p><blockquote>“这引发了人们对什么是真正的讨论与什么是某人只是想炒作的讨论的质疑，”他说。wallstreetbets的版主禁止在该平台上进行市场操纵，Rehl表示，他们似乎正在努力监管错误信息。主持人没有回应《巴伦周刊》的置评请求。</blockquote></p><p> “If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p><p><blockquote>索斯尼克表示：“如果你能制造足够的轰动效应，让股票在短时间内上涨10%、20%甚至50%，那么就有巨大的动力这样做。”</blockquote></p><p> The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p><p><blockquote>证券交易委员会正在留言板上关注有趣的事情。证交会主席盖瑞·根斯勒和一些国会议员讨论改变市场规则，意图增加透明度保护零售商——尽管如果改变交易速度减慢或让交易变得更贵，这些变化也可能激怒零售商群体。</blockquote></p><p> Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p><p><blockquote>监管并不是唯一可能抑制这一趋势的因素。fintech Betterment行为金融和投资副总裁丹·伊根(Dan Egan)认为，这一势头可能会在9月份失去动力。即使是“猿”也有责任。“孩子们开始回到学校；父母可以再次自由地去工作，”他说。“那是下一次从房间里抽出一些氧气的时候。”</blockquote></p><p> Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p><p><blockquote>传统投资者可能会倾向于将整个现象视为由封锁和免费政府资金激发的暂时疯狂。但那将是一个错误。如果零佣金经纪公司和游戏驿站的乐趣打破了数百万新投资者开户的障碍，这几乎肯定是一件好事，只要大多数人用他们并不立即需要的钱下注。许多新零售交易员表示，他们正在自学如何交易，并已开始分散持股。</blockquote></p><p> In one form or another, this is the future client base of Wall Street.</p><p><blockquote>以这样或那样的形式，这就是华尔街未来的客户群。</blockquote></p><p> Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p><p><blockquote>亚利桑那州立大学教授Hendrik Bessembinder在2018年发表了开创性的研究，发现“在随机选择的月份随机选择的股票更有可能亏损而不是赚钱。”简而言之，挑选单一股票并持有集中的投资组合往往是一种失败的策略。</blockquote></p><p> Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p><p><blockquote>即便如此，他还是受到了新一波交易的鼓舞。“我欢迎零售交易的增加，以及股票市场是一个广泛参与的地方的想法，”贝森宾德说。“经济学家不能告诉人们他们不应该找点乐子。”</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>The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-11 09:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It seemed to be only a matter of time.</p><p><blockquote>这似乎只是时间问题。</blockquote></p><p> When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p><p><blockquote>当游戏驿站（股票代码：GME）、黑莓（BB），甚至百视达（Blockbuster）的干涸尸体在一月份突然复活时，他们再次崩溃的时间已经在滴答作响。是几个小时、几天还是几周？</blockquote></p><p> It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p><p><blockquote>现在已经半年了，核心“模因股”的交易水平仍然被研究它们多年的人认为令人发指。Clover Health Investments(CLOV)和Newegg Commerce(NEGG)等新名字最近出现在留言板上，它们的股票也随之上涨。</blockquote></p><p> The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p><p><blockquote>数百万散户交易者——长期以来被嘲笑为“愚蠢的钱”——的集体努力成功地保持了股票的高位，并迫使反对者投降。</blockquote></p><p> That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p><p><blockquote>尽管他们押注的公司几乎没有表现出业务转型或扭亏为盈的迹象，但情况确实如此。黑莓在最近一个季度烧钱，并警告其关键的网络安全部门将触及收入指引的低端；消息传出后，该股下跌，但在过去一年中仍上涨了一倍多。</blockquote></p><p> While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p><p><blockquote>尽管大型经纪商的交易量较2月份的峰值略有下降，但仍是大流行前的两到三倍。散户交易者青睐的股票中发生了数量惊人的此类活动。例如，AMC院线控股公司(AMC)6月份股票日均交易价值达到131亿美元，超过苹果(AAPL)的95亿美元和亚马逊(AMZN)的103亿美元。</blockquote></p><p> Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p><p><blockquote>即使冠状病毒在美国消退，大多数新交易者表示，他们仍致力于他们在封锁期间学到的爱好——在一项Betterment调查中，58%的日内交易者表示，他们计划在未来进行更多交易，只有12%的人计划减少交易。业余疫情面包师已经停止揉酸面团面包；交易者只会越来越饥渴。</blockquote></p><p> A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p><p><blockquote>持续的熊市会破坏这种胃口，就像互联网泡沫破裂时一样。就目前而言，下跌是持有或买入的理由。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p><p><blockquote></blockquote></p><p> “I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p><p><blockquote>“我发现‘逢低买入’的情绪一刻也没有减弱，”与朋友在线交易的美国海军电子技术员布兰登·卢泽克(Brandon Luczek)在给《巴伦周刊》的电子邮件中写道。</blockquote></p><p> The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p><p><blockquote>散户投资者交易量的增加推动了模因股票的飙升。2020年，在线经纪商以创纪录的速度签约客户，新开户人数超过1000万人。这一纪录几乎肯定会在2021年被打破。一些顶级公司透露，今年不到一半，经纪商就已经增加了超过1000万个账户。</blockquote></p><p> Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p><p><blockquote>模因股票既是这一现象的马车，也是马。它们的价格突然飙升是由新投资者推动的，然后这种行为会推动更多的新人投资。数百万人在一月底和二月初下载了投资应用程序，只是为了享受乐趣。嘉信理财(SCHW)最近的一项调查发现，15%的当前交易者在2020年之后开始投资。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p><p><blockquote></blockquote></p><p> The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p><p><blockquote>这一激增中最突出的参与者是Robinhood，该公司表示仅在第一季度就增加了550万个受资助账户。但它并不孤单。例如，富达宣布第一季度吸引了160万35岁以下的新客户，比去年同期增长了223%。</blockquote></p><p> Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p><p><blockquote>在Robinhood零佣金模式的压力下，所有主要经纪商都在2019年将佣金降至零。这为新的客户群体打开了闸门——他们可能没有那么多闲钱可供交易，但比前辈更加活跃和多样化。经纪人正在兑现。富达希望在投资者拥有驾驶执照之前就吸引他们，允许年仅13岁的儿童开设交易账户。Robinhood正在乘势进行首次公开募股，分析师预计其估值将超过其收入的10倍。</blockquote></p><p> These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p><p><blockquote>这些新客户的行为与老客户不同。E*Trade（现归摩根士丹利(MS)所有）交易主管克里斯·拉金(Chris Larkin)表示，多年来，“ETF的吸引力很大”。但挑选个股显然是“2021年的大新闻”。</blockquote></p><p> To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p><p><blockquote>可以肯定的是，股票交易所交易基金仍然表现良好，因为世界各地的投资者都押注于疫情复苏，并避免债券收益率疲软。</blockquote></p><p></p><p> But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p><p><blockquote>但ETF不像股票那样点亮留言板。对于顶级品牌来说，这并不是单程旅行。游戏驿站确实在二月份下跌，华尔街享受了一段幸灾乐祸的时刻。这并没有持续多久。</blockquote></p><p> “Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p><p><blockquote>盈透证券(Interactive Brokers)首席策略师史蒂夫·索斯尼克(Steve Sosnick)写道：“就像蝉一样，模因交易者在看似地下几个月后，又以疯狂的活动回归。”索斯尼克认为，模因股票的交易往往与加密货币相反，因为随着势头的变化，它们的粉丝会从一种股票转向另一种股票。</blockquote></p><p> “I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p><p><blockquote>他写道：“我认为，在比特币和其他加密货币大幅调整后，模因股票重新焕发生机，这绝非巧合。”</blockquote></p><p> Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p><p><blockquote>索斯尼克认为模因股票是一个“独立的行业”，他在电脑显示器上将其与其他股票代码分开。</blockquote></p><p> Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p><p><blockquote>事实上，华尔街对模因股票革命的反应是孤立市场中专业人士认为非理性的部分。大多数卖空者不会碰这些股票，分析师也放弃了报道。</blockquote></p><p> But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p><p><blockquote>但华尔街不能像蝉一样将零售大军赶走，也不能指望它们在未来17年消失。股票交易已经永久转移。今年，零售活动占股本的24%，高于2019年的15%。新信条的追随者并不是愿意让华尔街管理市场的被动观察者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p><p><blockquote></blockquote></p><p> “What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p><p><blockquote>哥伦比亚法学院证券市场教授乔舒亚·米茨（Joshua Mits）说，“这真正反映了我们看到的与个别公司的接触越来越少的趋势的逆转。”“技术正在拉近普通投资者与他或她投资的公司的距离，而这只是以新的、不可预测的形式出现。”</blockquote></p><p> The swings you get can definitely make you feel some sort of way.</p><p><blockquote>你得到的秋千肯定会让你有某种感觉。</blockquote></p><p> — Matt Kohrs, 26, who streams stock analysis daily on YouTube</p><p><blockquote>——Matt Kohrs，26岁，每天在YouTube上播放股票分析</blockquote></p><p> It is now changing the lives of those who got in early and are still riding the names higher.</p><p><blockquote>它现在正在改变那些早期进入的人的生活，并且仍然名气更高。</blockquote></p><p> Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p><p><blockquote>以马特·科尔斯（Matt Kohrs）为例，他很早就投资了AMC院线。今年2月，他辞去了在纽约的程序员工作，搬到了费城，并开始每天在YouTube上播放7个小时的股票分析。</blockquote></p><p> With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p><p><blockquote>它在YouTube上拥有35万粉丝，正在支付账单。科尔斯表示，凭借广告和股票的收入，他可以降低与以前大致相同的工资。但他也知道，像这样依赖股票的收益与朝九晚五的工作完全不同。</blockquote></p><p> “The swings you get can definitely make you feel some sort of way,” he says.</p><p><blockquote>“你得到的挥杆肯定会让你有某种感觉，”他说。</blockquote></p><p> Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p><p><blockquote>公司也开始做出更积极的反应。他们要么拥抱他们的新主人，要么付钱给模因学家来理解新华尔街充满表情符号的语言，这样他们就可以避开他们或安抚他们。</blockquote></p><p> AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p><p><blockquote>AMC甚至在过去一周取消了拟议的股权融资，因为该公司显然不喜欢Reddit人群的氛围。过去一年，AMC的股票数量已经增加了五倍。首席执行官Adam Aron在推特上表示，他看到了对他增发2500万股股票的提议“许多是，许多不是”的反应，因此该提议将被取消，而不是在本月晚些时候的AMC年会上进行投票。该公司没有回应有关如何对股东进行民意调查的问题。</blockquote></p><p> Forget the boardroom. Corporate policy is now being determined in the chat room.</p><p><blockquote>忘了会议室吧。公司政策现在正在聊天室中确定。</blockquote></p><p> Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p><p><blockquote>大投资者花更多时间跟踪社交媒体上有关股票的讨论。美国银行在今年的一项调查中发现，大约25%的机构已经在跟踪社交媒体情绪，但大约40%的机构有兴趣在未来使用它。</blockquote></p><p> In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p><p><blockquote>在过去的几个月里，美国银行、摩根士丹利和摩根大通都发布了关于如何围绕散户行为进行交易的报告，得出了有些不同的结论。</blockquote></p><p> There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p><p><blockquote>正如摩根士丹利所说，信号中可能存在“阿尔法”，但可能需要一些激烈的数字运算才能达到这一目标。当然，并非所有留言板上的喋喋不休都会导致价格持续上涨，而且在没有大量数据分析的情况下，零售订单流无法轻易与机构订单流分开。对于拥有工具来确定散户投资者正在买入和卖出哪些股票的投资者，摩根大通建议做多买入兴趣最高的20%的股票，做空卖出兴趣最高的20%的股票。</blockquote></p><p> For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p><p><blockquote>提供跟踪社交媒体情绪产品的另类数据公司Thinknum的鲍里斯·斯皮瓦克(Boris Spiwak)表示，目前，许多购买社交媒体情绪数据的机构似乎都在试图降低风险，而不是寻找新的机会。“他们认为这几乎就像一份保险单，以限制他们的下行风险，”他说。</blockquote></p><p></p><p> For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p><p><blockquote>对于散户来说，这种方法并不总是科学的。这一行动得到了社区精神的支持。其背后的力量既是经济上的，也是情感上的和道德上的。</blockquote></p><p> New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p><p><blockquote>新投资者表示，他们的动机是证明自己和惩罚保守派的愿望，就像利润一样。他们互相了解市场，有时会放大或揭穿有关华尔街的阴谋论。一些人将模因股票走势与2008年金融危机引发的对大型金融机构的持续不信任联系起来。</blockquote></p><p> “Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p><p><blockquote>“华尔街让我们的经济陷入瘫痪，没有人因此惹上麻烦，”26岁的科尔斯说。“所以，我认为他们认为这不仅可以让我们赚钱，还可以让华尔街的这些对冲基金付钱。”</blockquote></p><p> Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p><p><blockquote>克莱尔·赫希伯格(Claire Hirschberg)是一名28岁的工会组织者，她在从朋友那里听说此事后，于1月份在Robinhood上购买了价值约50美元的游戏驿站股票。她喜欢这个想法，但真正让她兴奋的是她父亲的反应，他父亲是一位长期的资金经理。“他对我买下游戏驿站并拒绝出售感到非常生气，”她笑着说。“这让我想永远拥有它。”</blockquote></p><p> Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p><p><blockquote>就像旧华尔街有仪式和准则一样，新华尔街也有。一位新的投资银行员工很快就会知道，直到你成为合伙人后，你才会戴菲拉格慕领带。在总经理离开之前，你永远不会离开办公室，你也不会抱怨工作时间。坏人是监管者和参议员伊丽莎白·沃伦，而不是这个顺序。</blockquote></p><p> The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p><p><blockquote>新的交易台——数百万零售交易者现在使用的应用程序和他们聚集的留言板——也有潜规则。公开承认经济损失是一种勇敢的行为，是内部坚韧和对集团信念的证明。你不把自己当回事，也不监管语言。你是“猿”或“弱智”大军的一员。你坚持住了崩溃，即使这意味着你可能会失去一切。坏人依次是卖空者、做市商和华尔街精英。</blockquote></p><p> The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p><p><blockquote>群体行动不仅仅是为了道义上的支持。交易策略取决于人们保持购买压力以迫使空头挤压或购买看涨期权，从而触发所谓的伽马挤压。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p><p><blockquote><p class=\"t-img-caption\"><span>基思·吉尔(Keith Gill)二月份几乎出现在众议院金融服务委员会听证会上，成为Reddit零售交易员大军的代言人，推动游戏驿站股价走高。</span></p></blockquote></p><p> Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p><p><blockquote>许多卖空者表示，他们不会再碰这些股票了。但显然，其他人并没有采纳这一建议，而是通过反复做空股票来为模因运动提供氧气。6月中旬，AMC的空头利息占该股流通量的17%，低于1月份的28%，但幅度不大。</blockquote></p><p> As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p><p><blockquote>随着价格的上涨，空头们也身不由己。Wedbush Securities分析师Michael Pachter表示，他们开始“流口水，耳朵里冒出火焰”，多年来一直关注游戏驿站。“让我有点震惊的是精神错乱的定义，即一遍又一遍地做同样的事情，每次都希望有不同的结果，而空头不断回来，”他说。“[游戏驿站公牛]基思·吉尔和他的Reddit攻略不断挤压他们，而且它一直在发挥作用。”</blockquote></p><p> To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p><p><blockquote>为了击败卖空者，Reddit人群需要团结一致，但社区有时会出现裂痕。拥有最坚定粉丝群的两只模因股票——游戏驿站和AMC——仍然拥有庞大的核心信徒大军，他们似乎不容易动摇。但其他名字似乎有更多善变的支持者。几只陷入迷因疯狂的股票已经暴跌。Bed Bath&amp;Beyond(BBBY)在1月底和6月初两次飙升，但现在的交易价格仅略高于1月中旬的水平。在上涨期间买入的人亏损了。</blockquote></p><p> Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p><p><blockquote>不信任已经蔓延，一些交易员担心wallstreetbets——最初引发游戏驿站狂热的Reddit留言板——发展如此之快，以至于失去了最初的精神，并可能变得容易受到操纵。一些人已经转移到其他留言板，如r/superstonk，希望恢复旧社区的风味。</blockquote></p><p> Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p><p><blockquote>社交媒体跟踪公司Hype Equity的创始人特拉维斯·雷尔(Travis Rehl)表示，他试图将可能的操纵者与更有机的投资者情绪区分开来。他说，炒作股权通常是由代表网上谈论的公司的公关公司雇佣的。现在，他看到越来越多的股票突然出现在留言板上，收到积极的议论，然后消失。</blockquote></p><p></p><p> “It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p><p><blockquote>“这引发了人们对什么是真正的讨论与什么是某人只是想炒作的讨论的质疑，”他说。wallstreetbets的版主禁止在该平台上进行市场操纵，Rehl表示，他们似乎正在努力监管错误信息。主持人没有回应《巴伦周刊》的置评请求。</blockquote></p><p> “If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p><p><blockquote>索斯尼克表示：“如果你能制造足够的轰动效应，让股票在短时间内上涨10%、20%甚至50%，那么就有巨大的动力这样做。”</blockquote></p><p> The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p><p><blockquote>证券交易委员会正在留言板上关注有趣的事情。证交会主席盖瑞·根斯勒和一些国会议员讨论改变市场规则，意图增加透明度保护零售商——尽管如果改变交易速度减慢或让交易变得更贵，这些变化也可能激怒零售商群体。</blockquote></p><p> Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p><p><blockquote>监管并不是唯一可能抑制这一趋势的因素。fintech Betterment行为金融和投资副总裁丹·伊根(Dan Egan)认为，这一势头可能会在9月份失去动力。即使是“猿”也有责任。“孩子们开始回到学校；父母可以再次自由地去工作，”他说。“那是下一次从房间里抽出一些氧气的时候。”</blockquote></p><p> Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p><p><blockquote>传统投资者可能会倾向于将整个现象视为由封锁和免费政府资金激发的暂时疯狂。但那将是一个错误。如果零佣金经纪公司和游戏驿站的乐趣打破了数百万新投资者开户的障碍，这几乎肯定是一件好事，只要大多数人用他们并不立即需要的钱下注。许多新零售交易员表示，他们正在自学如何交易，并已开始分散持股。</blockquote></p><p> In one form or another, this is the future client base of Wall Street.</p><p><blockquote>以这样或那样的形式，这就是华尔街未来的客户群。</blockquote></p><p> Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p><p><blockquote>亚利桑那州立大学教授Hendrik Bessembinder在2018年发表了开创性的研究，发现“在随机选择的月份随机选择的股票更有可能亏损而不是赚钱。”简而言之，挑选单一股票并持有集中的投资组合往往是一种失败的策略。</blockquote></p><p> Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p><p><blockquote>即便如此，他还是受到了新一波交易的鼓舞。“我欢迎零售交易的增加，以及股票市场是一个广泛参与的地方的想法，”贝森宾德说。“经济学家不能告诉人们他们不应该找点乐子。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO\">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":{"WKHS":"Workhorse Group, Inc.","CLOV":"Clover Health Corp","BBBY":"Bed Bath & Beyond, Inc.","NEGG":"Newegg Comm Inc.","BB":"黑莓","AMC":"AMC院线","GME":"游戏驿站","SCHW":"嘉信理财","CARV":"卡弗储蓄"},"source_url":"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112201050","content_text":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?\nIt has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like Clover Health Investments(CLOV) and Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.\nThe collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.\nThat is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.\nWhile trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.\nEven as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.\nA sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.\n\n“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to Barron’s.\nThe meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.\nMeme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.\n\nThe most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.\nUnder pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.\nThese new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”\nTo be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.\nBut ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.\n“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.\n“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.\nSosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.\nIndeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.\nBut Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.\n\n“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”\nThe swings you get can definitely make you feel some sort of way.\n— Matt Kohrs, 26, who streams stock analysis daily on YouTube\nIt is now changing the lives of those who got in early and are still riding the names higher.\nTake Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming stock analysis on YouTube for seven hours a day.\nWith 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.\n“The swings you get can definitely make you feel some sort of way,” he says.\nCompanies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.\nAMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.\nForget the boardroom. Corporate policy is now being determined in the chat room.\nBig investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.\nIn the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.\nThere can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.\nFor now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.\nFor retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.\nNew investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.\n“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”\nClaire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”\nJust like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.\nThe new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.\nThe group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.\nKeith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.\nMany short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.\nAs the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”\nTo beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath & Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.\nDistrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.\nTravis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.\n“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from Barron’s for comment.\n“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.\nThe Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.\nRegulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”\nTraditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.\nIn one form or another, this is the future client base of Wall Street.\nArizona State University professor Hendrik Bessembinder published groundbreaking research in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.\nEven so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”","news_type":1,"symbols_score_info":{"BBBY":0.9,"WKHS":0.9,"GME":0.9,"MRIN":0.9,"CLOV":0.9,"SCHW":0.9,"NEGG":0.9,"BB":0.9,"CARV":0.9,"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816590827,"gmtCreate":1630506160069,"gmtModify":1631892732757,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/816590827","repostId":"1150832177","repostType":4,"repost":{"id":"1150832177","kind":"news","pubTimestamp":1630504818,"share":"https://www.laohu8.com/m/news/1150832177?lang=zh_CN&edition=full","pubTime":"2021-09-01 22:00","market":"us","language":"en","title":"Beyond Meat Stock Turns Higher After Don Lee Farms Trade Secrets Case Ruling<blockquote>唐·李农场商业秘密案裁决后，Beyond Meat股价走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150832177","media":"Thestreet","summary":"Beyond Meat (BYND) Meat, Inc. Report shares edged higher Tuesday after the plant-based food producer","content":"<p>Beyond Meat&nbsp;(<b>BYND</b>)&nbsp;Meat, Inc. Report&nbsp;shares edged higher Tuesday after the plant-based food producer said it received a favorable ruling in an ongoing trade secrets case with Don Lee Farms.</p><p><blockquote>Beyond Meat(<b>BYND</b>)Meat，Inc.Report股价周二小幅走高，此前这家植物性食品生产商表示，在与Don Lee Farms正在进行的商业秘密案件中获得了有利的裁决。</blockquote></p><p> Beyond Meat said&nbsp;Los Angeles Superior Court Judge Holly J. Fujie ruled that two key claims of&nbsp;misappropriation of trade secrets and unfair competition raised by Don Lee Farms -- a former manufacturing partner -- would not proceed to trial, which is set for September 22.</p><p><blockquote>Beyond Meat表示，洛杉矶高等法院法官Holly J.Fujie裁定，前制造合作伙伴Don Lee Farms提出的盗用商业秘密和不公平竞争的两项关键指控不会继续进行审判，审判定于9月22日进行。</blockquote></p><p> Earlier this year, California's Superior Court ruled the Beyond Meat pay around $400,000 owed to Don Lee farms as part of the contract it severed in 2017.</p><p><blockquote>今年早些时候，加州高等法院裁定Beyond Meat支付欠Don Lee farms的约40万美元，作为其2017年终止的合同的一部分。</blockquote></p><p> \"Although Don Lee Farms had no prior experience manufacturing plant-based meat products, it claimed it owned the procedures for manufacturing Beyond Meat’s proprietary plant-based meat products,\" Beyond Meat said in a statement. \"The Court has now outright rejected that claim.\"</p><p><blockquote>Beyond Meat在一份声明中表示：“尽管Don Lee Farms之前没有生产植物性肉制品的经验，但它声称拥有生产Beyond Meat专有植物性肉制品的程序。”“法院现在断然驳回了这一主张。”</blockquote></p><p> Beyond Meat shares were marked 0.46% higher in pre-market trading, reversing an earlier decline, to indicate an opening bell price of $120.85 each.</p><p><blockquote>Beyond Meat股价在盘前交易中上涨0.46%，扭转了早些时候的跌势，开盘价为每股120.85美元。</blockquote></p><p> Earlier this month, Beyond Meat posted a wider-than-expected second quarter loss of 31 cents per share, on sales of $149.4 million.</p><p><blockquote>本月早些时候，Beyond Meat公布第二季度每股亏损31美分，销售额为1.494亿美元，超出预期。</blockquote></p><p> It also forecast softer third quarter sales of between&nbsp;$120 million to $140 million as restaurants grow more cautious on food orders amid the summer rise in Delta-variant coronavirus infections.</p><p><blockquote>该公司还预测，由于夏季Delta变种冠状病毒感染增加，餐馆对食品订单变得更加谨慎，第三季度销售额将下降1.2亿至1.4亿美元。</blockquote></p><p> \"We believe it's prudent to call out that due to recent increases in COVID-19 infection rates stemming from the Delta variant, we're seeing some early signs of a return to a more cautionary stance across certain parts of the Foodservice sector,\" CFO Philip Hardin told investors on August 6. .</p><p><blockquote>首席财务官Philip Hardin 8月6日对投资者表示：“我们认为谨慎的做法是看涨期权，由于最近源自Delta变种的COVID-19感染率上升，我们看到一些早期迹象表明，餐饮服务行业的某些部分恢复了更加谨慎的立场。”</blockquote></p><p> \"There continues to be uncertainty, particularly in Foodservice channels related to the COVID-19 infection rates in the Delta variant, as well as reimplementation of safety measures in certain jurisdictions and potential impact on customer demand levels,\" he noted. \"Although we generally expect to see continued year-over-year growth in our Foodservice business for the balance of the year, albeit at a more moderate pace than what we saw in Q2.\"</p><p><blockquote>他指出：“仍然存在不确定性，特别是在与德尔塔变异毒株COVID-19感染率相关的餐饮服务渠道，以及某些司法管辖区重新实施安全措施以及对客户需求水平的潜在影响。”“尽管我们普遍预计今年剩余时间内我们的餐饮服务业务将继续同比增长，尽管增速比第二季度更为温和。”</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>Beyond Meat Stock Turns Higher After Don Lee Farms Trade Secrets Case Ruling<blockquote>唐·李农场商业秘密案裁决后，Beyond Meat股价走高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBeyond Meat Stock Turns Higher After Don Lee Farms Trade Secrets Case Ruling<blockquote>唐·李农场商业秘密案裁决后，Beyond Meat股价走高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-09-01 22:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Beyond Meat&nbsp;(<b>BYND</b>)&nbsp;Meat, Inc. Report&nbsp;shares edged higher Tuesday after the plant-based food producer said it received a favorable ruling in an ongoing trade secrets case with Don Lee Farms.</p><p><blockquote>Beyond Meat(<b>BYND</b>)Meat，Inc.Report股价周二小幅走高，此前这家植物性食品生产商表示，在与Don Lee Farms正在进行的商业秘密案件中获得了有利的裁决。</blockquote></p><p> Beyond Meat said&nbsp;Los Angeles Superior Court Judge Holly J. Fujie ruled that two key claims of&nbsp;misappropriation of trade secrets and unfair competition raised by Don Lee Farms -- a former manufacturing partner -- would not proceed to trial, which is set for September 22.</p><p><blockquote>Beyond Meat表示，洛杉矶高等法院法官Holly J.Fujie裁定，前制造合作伙伴Don Lee Farms提出的盗用商业秘密和不公平竞争的两项关键指控不会继续进行审判，审判定于9月22日进行。</blockquote></p><p> Earlier this year, California's Superior Court ruled the Beyond Meat pay around $400,000 owed to Don Lee farms as part of the contract it severed in 2017.</p><p><blockquote>今年早些时候，加州高等法院裁定Beyond Meat支付欠Don Lee farms的约40万美元，作为其2017年终止的合同的一部分。</blockquote></p><p> \"Although Don Lee Farms had no prior experience manufacturing plant-based meat products, it claimed it owned the procedures for manufacturing Beyond Meat’s proprietary plant-based meat products,\" Beyond Meat said in a statement. \"The Court has now outright rejected that claim.\"</p><p><blockquote>Beyond Meat在一份声明中表示：“尽管Don Lee Farms之前没有生产植物性肉制品的经验，但它声称拥有生产Beyond Meat专有植物性肉制品的程序。”“法院现在断然驳回了这一主张。”</blockquote></p><p> Beyond Meat shares were marked 0.46% higher in pre-market trading, reversing an earlier decline, to indicate an opening bell price of $120.85 each.</p><p><blockquote>Beyond Meat股价在盘前交易中上涨0.46%，扭转了早些时候的跌势，开盘价为每股120.85美元。</blockquote></p><p> Earlier this month, Beyond Meat posted a wider-than-expected second quarter loss of 31 cents per share, on sales of $149.4 million.</p><p><blockquote>本月早些时候，Beyond Meat公布第二季度每股亏损31美分，销售额为1.494亿美元，超出预期。</blockquote></p><p> It also forecast softer third quarter sales of between&nbsp;$120 million to $140 million as restaurants grow more cautious on food orders amid the summer rise in Delta-variant coronavirus infections.</p><p><blockquote>该公司还预测，由于夏季Delta变种冠状病毒感染增加，餐馆对食品订单变得更加谨慎，第三季度销售额将下降1.2亿至1.4亿美元。</blockquote></p><p> \"We believe it's prudent to call out that due to recent increases in COVID-19 infection rates stemming from the Delta variant, we're seeing some early signs of a return to a more cautionary stance across certain parts of the Foodservice sector,\" CFO Philip Hardin told investors on August 6. .</p><p><blockquote>首席财务官Philip Hardin 8月6日对投资者表示：“我们认为谨慎的做法是看涨期权，由于最近源自Delta变种的COVID-19感染率上升，我们看到一些早期迹象表明，餐饮服务行业的某些部分恢复了更加谨慎的立场。”</blockquote></p><p> \"There continues to be uncertainty, particularly in Foodservice channels related to the COVID-19 infection rates in the Delta variant, as well as reimplementation of safety measures in certain jurisdictions and potential impact on customer demand levels,\" he noted. \"Although we generally expect to see continued year-over-year growth in our Foodservice business for the balance of the year, albeit at a more moderate pace than what we saw in Q2.\"</p><p><blockquote>他指出：“仍然存在不确定性，特别是在与德尔塔变异毒株COVID-19感染率相关的餐饮服务渠道，以及某些司法管辖区重新实施安全措施以及对客户需求水平的潜在影响。”“尽管我们普遍预计今年剩余时间内我们的餐饮服务业务将继续同比增长，尽管增速比第二季度更为温和。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/beyond-meat-stock-turns-higher-after-don-lee-farms-case-ruling\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.thestreet.com/investing/beyond-meat-stock-turns-higher-after-don-lee-farms-case-ruling","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150832177","content_text":"Beyond Meat (BYND) Meat, Inc. Report shares edged higher Tuesday after the plant-based food producer said it received a favorable ruling in an ongoing trade secrets case with Don Lee Farms.\nBeyond Meat said Los Angeles Superior Court Judge Holly J. Fujie ruled that two key claims of misappropriation of trade secrets and unfair competition raised by Don Lee Farms -- a former manufacturing partner -- would not proceed to trial, which is set for September 22.\nEarlier this year, California's Superior Court ruled the Beyond Meat pay around $400,000 owed to Don Lee farms as part of the contract it severed in 2017.\n\"Although Don Lee Farms had no prior experience manufacturing plant-based meat products, it claimed it owned the procedures for manufacturing Beyond Meat’s proprietary plant-based meat products,\" Beyond Meat said in a statement. \"The Court has now outright rejected that claim.\"\nBeyond Meat shares were marked 0.46% higher in pre-market trading, reversing an earlier decline, to indicate an opening bell price of $120.85 each.\nEarlier this month, Beyond Meat posted a wider-than-expected second quarter loss of 31 cents per share, on sales of $149.4 million.\nIt also forecast softer third quarter sales of between $120 million to $140 million as restaurants grow more cautious on food orders amid the summer rise in Delta-variant coronavirus infections.\n\"We believe it's prudent to call out that due to recent increases in COVID-19 infection rates stemming from the Delta variant, we're seeing some early signs of a return to a more cautionary stance across certain parts of the Foodservice sector,\" CFO Philip Hardin told investors on August 6. .\n\"There continues to be uncertainty, particularly in Foodservice channels related to the COVID-19 infection rates in the Delta variant, as well as reimplementation of safety measures in certain jurisdictions and potential impact on customer demand levels,\" he noted. \"Although we generally expect to see continued year-over-year growth in our Foodservice business for the balance of the year, albeit at a more moderate pace than what we saw in Q2.\"","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":298,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807394213,"gmtCreate":1627999613432,"gmtModify":1633754511473,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807394213","repostId":"1148147660","repostType":4,"isVote":1,"tweetType":1,"viewCount":361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177857971,"gmtCreate":1627199586793,"gmtModify":1633767202844,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/177857971","repostId":"1176552691","repostType":4,"repost":{"id":"1176552691","kind":"news","pubTimestamp":1627183789,"share":"https://www.laohu8.com/m/news/1176552691?lang=zh_CN&edition=full","pubTime":"2021-07-25 11:29","market":"us","language":"en","title":"Is IBM Stock Undervalued Or Overvalued? What To Consider<blockquote>IBM股票是被低估还是被高估？要考虑什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176552691","media":"seekingalpha","summary":"Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>IBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.</li>  <li>Prior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.</li>  <li>More transparency is needed regarding the Kyndryl spinoff.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c798e0536c6804d44b195f6f349fab5\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>Ethan Miller/Getty Images News</span></p><p><blockquote><ul><li>随着云收入和营业利润率的改善，IBM第二季度盈利超出了分析师的预期。</li><li>在第一季度之前，IBM连续四个季度收入下降，过去34个季度中有30个季度收入下降。</li><li>Kyndryl分拆需要更多透明度。</li></ul><p class=\"t-img-caption\"><span>伊森·米勒/盖蒂图片社新闻</span></p></blockquote></p><p> International Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.</p><p><blockquote>国际商业机器公司（IBM）是一家转型中的公司。不幸的是，对于投资者来说，这种转变已经持续了十年的大部分时间。这些扭亏为盈的努力包括对云计算和人工智能的投资以及剥离遗留业务。虽然现在有绿芽的迹象，但播下的种子是否落在岩石上还有待观察。</blockquote></p><p> Although the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.</p><p><blockquote>尽管该公司在混合云产品方面拥有快速增长的业务，并在量子计算方面拥有潜在的增长引擎，但它面临着前一个行业的激烈竞争和后一个行业的不确定前景。该公司的大多数其他业务都处于低迷状态，因此IBM的增长前景不明朗。</blockquote></p><p> What is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.</p><p><blockquote>可以肯定的是，截至今天，IBM的债务负担合理且不断减少，自由现金流强劲。</blockquote></p><p> Management is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.</p><p><blockquote>管理层正试图通过专注于公司的云产品来部分解决增长问题，同时剥离其托管基础设施业务。该公司将被命名为Kyndryl。然而，新实体将承担的债务以及其将承担的当前股息部分尚未透露。</blockquote></p><p> <b>Recent Quarterly Results</b></p><p><blockquote><b>最近季度业绩</b></blockquote></p><p> IBM&nbsp;reported&nbsp;Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.</p><p><blockquote>IBM上周一公布了第二季度业绩。该公司的非GAAP每股收益为2.33美元，超出预期0.04美元。</blockquote></p><p> Revenue of $18.7 billion was flat when adjusted for currency and divestitures.</p><p><blockquote>经货币和资产剥离调整后，营收为187亿美元，持平。</blockquote></p><p> The negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.</p><p><blockquote>该报告的负面影响是系统收入下降了7%。然而，这主要是由于正常的IBM Z大型机周期，同比下降13%。</blockquote></p><p> The global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.</p><p><blockquote>全球融资部门在总收入中所占比例较低，下降了9%。全球技术服务约占总收入的三分之一，并将主要分拆为Kyndryl，但增长平缓。</blockquote></p><p> The positive side of the report had Cloud &amp; Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.</p><p><blockquote>该报告的积极一面是云和认知软件云收入增长了29%，全球商业服务云收入增长了35%。过去12个月，云总收入为270亿美元，增长了15%，而本季度云收入增长了13%，达到70亿美元。</blockquote></p><p> Net cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.</p><p><blockquote>过去12个月，经营活动产生的净现金达到177亿美元，调整后的自由现金流总计110亿美元。</blockquote></p><p> Since year-end 2020, the company has reduced debt by $6.4 billion.</p><p><blockquote>自2020年底以来，该公司已减少债务64亿美元。</blockquote></p><p> Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021.</p><p><blockquote>2021年调整后自由现金流110亿至120亿美元的管理指南。</blockquote></p><p> <b>Where IBM Stands Tall</b></p><p><blockquote><b>IBM屹立不倒的地方</b></blockquote></p><p> IBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.</p><p><blockquote>许多人认为IBM往好了说是一家三流IT公司，往坏了说是一只濒临灭绝的恐龙。</blockquote></p><p> It is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.</p><p><blockquote>很明显，该公司的收入多年来一直在下降；然而，为了准确评估该股票，投资者必须了解IBM的传统业务有许多优势。</blockquote></p><p> For example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.</p><p><blockquote>例如，IBM是世界上最大的IT服务公司，也是大型机的主要提供商。在财富50强公司中，有47家是IBM的客户。</blockquote></p><p> Half of the world’s wireless connections are handled by the firm.</p><p><blockquote>世界上一半的无线连接由该公司处理。</blockquote></p><p> IBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.</p><p><blockquote>IBM的大型机系统处理全球近90%的信用卡交易，97%的全球最大银行依赖IBM的产品和服务。因此，每年使用IBM系统处理290亿笔ATM交易。</blockquote></p><p> Eight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.</p><p><blockquote>十分之八的全球零售商依赖IBM的产品和服务，而80%的旅游业预订通过IBM系统进行。这导致使用该公司的IT服务处理40亿次航班预订。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ace4f1436fd2697c5ad266b5017e1dd\" tg-width=\"960\" tg-height=\"721\" width=\"100%\" height=\"auto\"><span>Source: Forbes</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：福布斯</span></p></blockquote></p><p> It is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.</p><p><blockquote>很明显，IBM拥有庞大的客户群，提供了大规模的经常性收入。在许多情况下，转向竞争对手的产品意味着冒着敏感信息转移的风险，而许多人不愿意采取这一举措。</blockquote></p><p> However, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.</p><p><blockquote>然而，随着向云服务和开源软件的过渡，越来越多的公司采用混合搭配的IT基础设施。反过来，这正在侵蚀IBM与客户转换成本相关的竞争优势。</blockquote></p><p> <b>The Sources Of Potential Growth</b></p><p><blockquote><b>潜在增长的来源</b></blockquote></p><p></p><p> Investors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh&nbsp;provided insight&nbsp;into how hybrid cloud drives revenue in some of IBM’s other divisions.</p><p><blockquote>投资者普遍了解IBM通过其混合云产品推动增长的努力。然而，在摩根大通最近的投资者会议上，首席财务官吉姆·卡瓦诺（Jim Kavanaugh）就混合云如何推动IBM其他一些部门的收入提供了见解。</blockquote></p><p>   For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.  Of course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.</p><p><blockquote>我们在混合云平台上每投入1美元（业务），我们就会看到3到5美元的软件拖累和6到8美元的服务拖累。当然，Kavanaugh使用drag来指的是与采用IBM混合云相关的软件和服务收入的增加。如果卡瓦诺的说法准确，这意味着在该公司混合云平台上花费的每一美元都可以从该公司的软件和服务产品中获得9至13美元的额外收入。</blockquote></p><p> Because hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.</p><p><blockquote>由于混合云混合使用内部私有云和公共云服务，因此它为客户提供了一定程度的数据隐私。这是医疗保健和金融服务客户特别关注的问题。因此，我认为IBM在与其他混合云提供商的竞争中可能具有优势，因为它在这些行业中拥有广泛的关系。</blockquote></p><p> I reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm&nbsp;forecasts&nbsp;a CAGR of 18.73% from 2021 through 2026.</p><p><blockquote>我回顾了关于混合云市场预计增长率的各种预测。最近的研究，也属于其他预测的中间，是由魔多情报局进行的。该公司预测2021年至2026年的复合年增长率为18.73%。</blockquote></p><p> Investors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.</p><p><blockquote>投资者应该知道，该领域的主要运营商是思科(CSCO)、惠普(HPE)、亚马逊(AMZN)、思杰系统(CTXS)和IBM。</blockquote></p><p> The following chart provides a record of the firm’s total cloud growth over the last six quarters.</p><p><blockquote>下图提供了该公司过去六个季度的总云增长记录。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fc85156e70f6caf8ae809f76126a723\" tg-width=\"576\" tg-height=\"336\" width=\"100%\" height=\"auto\"><span>Source: Company reports / Chart by Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司报告/作者图表</span></p></blockquote></p><p> Aside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.</p><p><blockquote>除了云之外，还有另一个潜在增长的来源，尽管它不太可能很快实现。</blockquote></p><p> Early in 2019, IBM&nbsp;introduced&nbsp;the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.</p><p><blockquote>2019年初，IBM推出了Q System One。IBM Q systems是世界上第一台为科学和商业用途而设计的量子计算机。</blockquote></p><p> Pardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence&nbsp;forecasts&nbsp;a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.</p><p><blockquote>原谅我的双关语，但量子计算机代表了技术的巨大飞跃。Prescient And Strategic Intelligence预测，到2030年，该行业的CAGR将达到56%，量子计算机市场份额将达到近650亿美元。</blockquote></p><p> For additional insights regarding quantum computing and IBM’s position within that industry, I point you to&nbsp;my article, “IBM: Why My Eye Is Fixed On Big Blue.”</p><p><blockquote>有关量子计算和IBM在该行业中的地位的更多见解，我向您推荐我的文章“IBM：为什么我的眼睛盯着蓝色巨人”。</blockquote></p><p> <b>Understanding Kyndryl</b></p><p><blockquote><b>了解Kyndryl</b></blockquote></p><p> Once&nbsp;Kyndryl&nbsp;is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.</p><p><blockquote>Kyndryl一旦上市，将在115个国家拥有9万多名员工和4600多家客户。新实体的服务积压量为600亿美元，预计收入为190亿美元。该公司的规模是最接近的竞争对手的两倍，将成为全球最大的托管基础设施服务提供商。</blockquote></p><p> The split will&nbsp;transform&nbsp;IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.</p><p><blockquote>此次分拆将使IBM从一家一半收入来自服务的公司转变为一家软件和解决方案业务经常性收入超过一半的公司。</blockquote></p><p> Global Business Services, which currently constitutes 22% of the company’s revenue, will&nbsp;account&nbsp;for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.</p><p><blockquote>全球商业服务目前占公司收入的22%，将占销售额的40%以上。值得注意的是，该部门上季度的收入同比增长了12%。</blockquote></p><p> IBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.</p><p><blockquote>IBM将保留Red Hat及其解决方案提供商业务、系统业务、关键任务公共云服务，以及专注于大数据、人工智能和安全的软件组合。</blockquote></p><p> Initially, the two companies will each be the largest customer of the other.</p><p><blockquote>最初，两家公司将各自成为对方的最大客户。</blockquote></p><p> What remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.</p><p><blockquote>关于分拆，尚待了解的是每家公司将承担多少债务，以及公司将支付的股息份额。克里希纳表示，两家公司将共同努力维持目前的支付水平。</blockquote></p><p> <b>Has IBM Turned The Corner?</b></p><p><blockquote><b>IBM转危为安了吗？</b></blockquote></p><p> Anyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.</p><p><blockquote>任何关注IBM的人都知道该公司经历了长期的糟糕业绩。下图提供了该公司过去十四个季度的季度自由现金流记录。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60cc8b82052f97dd449205999ee30711\" tg-width=\"577\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Data from ycharts / chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：数据来自ycharts/作者图表</span></p></blockquote></p><p> While this is not proof positive that the company is back on track, the recent trend is at least encouraging.</p><p><blockquote>虽然这并不能证明该公司重回正轨，但最近的趋势至少令人鼓舞。</blockquote></p><p> In 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.</p><p><blockquote>2020年，IBM产生了108亿美元的自由现金流。2021年调整后自由现金流110亿至120亿美元的管理指南。这不包括与Kyndryl分拆相关的30亿美元结构性影响。</blockquote></p><p> The CEO&nbsp;recently stated&nbsp;he expects IBM to generate $12 billion to $13 billion in FCF in 2022.</p><p><blockquote>这位首席执行官最近表示，他预计IBM将在2022年产生120亿至130亿美元的自由现金流。</blockquote></p><p> <b>Debt And Dividend</b></p><p><blockquote><b>债务和股息</b></blockquote></p><p></p><p> While investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.</p><p><blockquote>虽然投资者可以理所当然地抱怨多年来的各种管理层举措，但该公司在进行多项收购的同时保持了合理的债务状况。</blockquote></p><p> The company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.</p><p><blockquote>自2019年年中达到峰值以来，该公司已将债务减少了约180亿美元。IBM维持投资级信用评级，下图记录了该公司最近偿还债务的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b73e613157c486a5f5e8306546121971\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Source: IBM Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：IBM演示文稿</span></p></blockquote></p><p> IBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.</p><p><blockquote>IBM的收益率为4.64%，派息率略低于61%，5年股息增长率为4.26%。如前所述，Kyndryl分拆后，两家公司将合作提供相当于当前股息的派息。</blockquote></p><p> <b>Is IBM Stock Overvalued?</b></p><p><blockquote><b>IBM股票是否被高估？</b></blockquote></p><p> IBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.</p><p><blockquote>IBM股价交易价格为141.13美元。8位分析师的平均12个月目标价为153.50美元。自上次收益报告以来，对该股进行评级的3位分析师的目标价为151.33美元。</blockquote></p><p> IBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.</p><p><blockquote>IBM的市盈率为24.05倍，远期市盈率为17.67倍。相比之下，其五年平均值分别为16.42倍和13.25倍。这远低于行业平均水平，这两个指标都在三十左右。</blockquote></p><p> The 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.</p><p><blockquote>Seeking Alpha Premium提供的3至5年期PEG为1.16倍。嘉信理财计算的PEG为1.49倍，雅虎没有提供PEG比率。</blockquote></p><p> I believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.</p><p><blockquote>我相信该股目前的市盈率反映了投资者对分拆完成后IBM增长加速的预期。PEG比率显示该股票估值合理。</blockquote></p><p> <b>Is IBM Stock A Good Long-Term Investment?</b></p><p><blockquote><b>IBM股票是一项不错的长期投资吗？</b></blockquote></p><p> IBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.</p><p><blockquote>IBM在全球许多最大的公司中有着根深蒂固但不断发展的地位。不幸的是，被视为该公司主要增长途径的云也可能导致该公司一些遗留业务的缓慢恶化。</blockquote></p><p> That the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.</p><p><blockquote>云业务一直在快速增长是显而易见的：IBM现在拥有超过3,200个客户使用该公司的混合云平台。这几乎是收购红帽之前的四倍。</blockquote></p><p> If management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.</p><p><blockquote>如果管理层的说法准确，混合云平台将为软件和服务部门的收入带来强劲增长。结合Kyndryl缓慢增长的托管基础设施服务业务的分拆，有理由相信IBM将见证增长。</blockquote></p><p> IBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.</p><p><blockquote>IBM拥有稳健的资产负债表和强劲的收益率，当使用PEG比率作为股票估值的基础时，该股的交易价格略有折扣。</blockquote></p><p> All considered, I rate IBM as a BUY.</p><p><blockquote>综合考虑，我对IBM的评级为买入。</blockquote></p><p> I think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.</p><p><blockquote>我认为中短期最糟糕的情况是公司增长缓慢，而投资者则获得相当强劲的股息。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is IBM Stock Undervalued Or Overvalued? What To Consider<blockquote>IBM股票是被低估还是被高估？要考虑什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs IBM Stock Undervalued Or Overvalued? What To Consider<blockquote>IBM股票是被低估还是被高估？要考虑什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-25 11:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>IBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.</li>  <li>Prior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.</li>  <li>More transparency is needed regarding the Kyndryl spinoff.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c798e0536c6804d44b195f6f349fab5\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>Ethan Miller/Getty Images News</span></p><p><blockquote><ul><li>随着云收入和营业利润率的改善，IBM第二季度盈利超出了分析师的预期。</li><li>在第一季度之前，IBM连续四个季度收入下降，过去34个季度中有30个季度收入下降。</li><li>Kyndryl分拆需要更多透明度。</li></ul><p class=\"t-img-caption\"><span>伊森·米勒/盖蒂图片社新闻</span></p></blockquote></p><p> International Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.</p><p><blockquote>国际商业机器公司（IBM）是一家转型中的公司。不幸的是，对于投资者来说，这种转变已经持续了十年的大部分时间。这些扭亏为盈的努力包括对云计算和人工智能的投资以及剥离遗留业务。虽然现在有绿芽的迹象，但播下的种子是否落在岩石上还有待观察。</blockquote></p><p> Although the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.</p><p><blockquote>尽管该公司在混合云产品方面拥有快速增长的业务，并在量子计算方面拥有潜在的增长引擎，但它面临着前一个行业的激烈竞争和后一个行业的不确定前景。该公司的大多数其他业务都处于低迷状态，因此IBM的增长前景不明朗。</blockquote></p><p> What is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.</p><p><blockquote>可以肯定的是，截至今天，IBM的债务负担合理且不断减少，自由现金流强劲。</blockquote></p><p> Management is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.</p><p><blockquote>管理层正试图通过专注于公司的云产品来部分解决增长问题，同时剥离其托管基础设施业务。该公司将被命名为Kyndryl。然而，新实体将承担的债务以及其将承担的当前股息部分尚未透露。</blockquote></p><p> <b>Recent Quarterly Results</b></p><p><blockquote><b>最近季度业绩</b></blockquote></p><p> IBM&nbsp;reported&nbsp;Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.</p><p><blockquote>IBM上周一公布了第二季度业绩。该公司的非GAAP每股收益为2.33美元，超出预期0.04美元。</blockquote></p><p> Revenue of $18.7 billion was flat when adjusted for currency and divestitures.</p><p><blockquote>经货币和资产剥离调整后，营收为187亿美元，持平。</blockquote></p><p> The negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.</p><p><blockquote>该报告的负面影响是系统收入下降了7%。然而，这主要是由于正常的IBM Z大型机周期，同比下降13%。</blockquote></p><p> The global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.</p><p><blockquote>全球融资部门在总收入中所占比例较低，下降了9%。全球技术服务约占总收入的三分之一，并将主要分拆为Kyndryl，但增长平缓。</blockquote></p><p> The positive side of the report had Cloud &amp; Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.</p><p><blockquote>该报告的积极一面是云和认知软件云收入增长了29%，全球商业服务云收入增长了35%。过去12个月，云总收入为270亿美元，增长了15%，而本季度云收入增长了13%，达到70亿美元。</blockquote></p><p> Net cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.</p><p><blockquote>过去12个月，经营活动产生的净现金达到177亿美元，调整后的自由现金流总计110亿美元。</blockquote></p><p> Since year-end 2020, the company has reduced debt by $6.4 billion.</p><p><blockquote>自2020年底以来，该公司已减少债务64亿美元。</blockquote></p><p> Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021.</p><p><blockquote>2021年调整后自由现金流110亿至120亿美元的管理指南。</blockquote></p><p> <b>Where IBM Stands Tall</b></p><p><blockquote><b>IBM屹立不倒的地方</b></blockquote></p><p> IBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.</p><p><blockquote>许多人认为IBM往好了说是一家三流IT公司，往坏了说是一只濒临灭绝的恐龙。</blockquote></p><p> It is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.</p><p><blockquote>很明显，该公司的收入多年来一直在下降；然而，为了准确评估该股票，投资者必须了解IBM的传统业务有许多优势。</blockquote></p><p> For example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.</p><p><blockquote>例如，IBM是世界上最大的IT服务公司，也是大型机的主要提供商。在财富50强公司中，有47家是IBM的客户。</blockquote></p><p> Half of the world’s wireless connections are handled by the firm.</p><p><blockquote>世界上一半的无线连接由该公司处理。</blockquote></p><p> IBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.</p><p><blockquote>IBM的大型机系统处理全球近90%的信用卡交易，97%的全球最大银行依赖IBM的产品和服务。因此，每年使用IBM系统处理290亿笔ATM交易。</blockquote></p><p> Eight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.</p><p><blockquote>十分之八的全球零售商依赖IBM的产品和服务，而80%的旅游业预订通过IBM系统进行。这导致使用该公司的IT服务处理40亿次航班预订。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ace4f1436fd2697c5ad266b5017e1dd\" tg-width=\"960\" tg-height=\"721\" width=\"100%\" height=\"auto\"><span>Source: Forbes</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：福布斯</span></p></blockquote></p><p> It is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.</p><p><blockquote>很明显，IBM拥有庞大的客户群，提供了大规模的经常性收入。在许多情况下，转向竞争对手的产品意味着冒着敏感信息转移的风险，而许多人不愿意采取这一举措。</blockquote></p><p> However, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.</p><p><blockquote>然而，随着向云服务和开源软件的过渡，越来越多的公司采用混合搭配的IT基础设施。反过来，这正在侵蚀IBM与客户转换成本相关的竞争优势。</blockquote></p><p> <b>The Sources Of Potential Growth</b></p><p><blockquote><b>潜在增长的来源</b></blockquote></p><p></p><p> Investors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh&nbsp;provided insight&nbsp;into how hybrid cloud drives revenue in some of IBM’s other divisions.</p><p><blockquote>投资者普遍了解IBM通过其混合云产品推动增长的努力。然而，在摩根大通最近的投资者会议上，首席财务官吉姆·卡瓦诺（Jim Kavanaugh）就混合云如何推动IBM其他一些部门的收入提供了见解。</blockquote></p><p>   For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.  Of course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.</p><p><blockquote>我们在混合云平台上每投入1美元（业务），我们就会看到3到5美元的软件拖累和6到8美元的服务拖累。当然，Kavanaugh使用drag来指的是与采用IBM混合云相关的软件和服务收入的增加。如果卡瓦诺的说法准确，这意味着在该公司混合云平台上花费的每一美元都可以从该公司的软件和服务产品中获得9至13美元的额外收入。</blockquote></p><p> Because hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.</p><p><blockquote>由于混合云混合使用内部私有云和公共云服务，因此它为客户提供了一定程度的数据隐私。这是医疗保健和金融服务客户特别关注的问题。因此，我认为IBM在与其他混合云提供商的竞争中可能具有优势，因为它在这些行业中拥有广泛的关系。</blockquote></p><p> I reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm&nbsp;forecasts&nbsp;a CAGR of 18.73% from 2021 through 2026.</p><p><blockquote>我回顾了关于混合云市场预计增长率的各种预测。最近的研究，也属于其他预测的中间，是由魔多情报局进行的。该公司预测2021年至2026年的复合年增长率为18.73%。</blockquote></p><p> Investors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.</p><p><blockquote>投资者应该知道，该领域的主要运营商是思科(CSCO)、惠普(HPE)、亚马逊(AMZN)、思杰系统(CTXS)和IBM。</blockquote></p><p> The following chart provides a record of the firm’s total cloud growth over the last six quarters.</p><p><blockquote>下图提供了该公司过去六个季度的总云增长记录。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fc85156e70f6caf8ae809f76126a723\" tg-width=\"576\" tg-height=\"336\" width=\"100%\" height=\"auto\"><span>Source: Company reports / Chart by Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司报告/作者图表</span></p></blockquote></p><p> Aside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.</p><p><blockquote>除了云之外，还有另一个潜在增长的来源，尽管它不太可能很快实现。</blockquote></p><p> Early in 2019, IBM&nbsp;introduced&nbsp;the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.</p><p><blockquote>2019年初，IBM推出了Q System One。IBM Q systems是世界上第一台为科学和商业用途而设计的量子计算机。</blockquote></p><p> Pardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence&nbsp;forecasts&nbsp;a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.</p><p><blockquote>原谅我的双关语，但量子计算机代表了技术的巨大飞跃。Prescient And Strategic Intelligence预测，到2030年，该行业的CAGR将达到56%，量子计算机市场份额将达到近650亿美元。</blockquote></p><p> For additional insights regarding quantum computing and IBM’s position within that industry, I point you to&nbsp;my article, “IBM: Why My Eye Is Fixed On Big Blue.”</p><p><blockquote>有关量子计算和IBM在该行业中的地位的更多见解，我向您推荐我的文章“IBM：为什么我的眼睛盯着蓝色巨人”。</blockquote></p><p> <b>Understanding Kyndryl</b></p><p><blockquote><b>了解Kyndryl</b></blockquote></p><p> Once&nbsp;Kyndryl&nbsp;is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.</p><p><blockquote>Kyndryl一旦上市，将在115个国家拥有9万多名员工和4600多家客户。新实体的服务积压量为600亿美元，预计收入为190亿美元。该公司的规模是最接近的竞争对手的两倍，将成为全球最大的托管基础设施服务提供商。</blockquote></p><p> The split will&nbsp;transform&nbsp;IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.</p><p><blockquote>此次分拆将使IBM从一家一半收入来自服务的公司转变为一家软件和解决方案业务经常性收入超过一半的公司。</blockquote></p><p> Global Business Services, which currently constitutes 22% of the company’s revenue, will&nbsp;account&nbsp;for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.</p><p><blockquote>全球商业服务目前占公司收入的22%，将占销售额的40%以上。值得注意的是，该部门上季度的收入同比增长了12%。</blockquote></p><p> IBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.</p><p><blockquote>IBM将保留Red Hat及其解决方案提供商业务、系统业务、关键任务公共云服务，以及专注于大数据、人工智能和安全的软件组合。</blockquote></p><p> Initially, the two companies will each be the largest customer of the other.</p><p><blockquote>最初，两家公司将各自成为对方的最大客户。</blockquote></p><p> What remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.</p><p><blockquote>关于分拆，尚待了解的是每家公司将承担多少债务，以及公司将支付的股息份额。克里希纳表示，两家公司将共同努力维持目前的支付水平。</blockquote></p><p> <b>Has IBM Turned The Corner?</b></p><p><blockquote><b>IBM转危为安了吗？</b></blockquote></p><p> Anyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.</p><p><blockquote>任何关注IBM的人都知道该公司经历了长期的糟糕业绩。下图提供了该公司过去十四个季度的季度自由现金流记录。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60cc8b82052f97dd449205999ee30711\" tg-width=\"577\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Data from ycharts / chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：数据来自ycharts/作者图表</span></p></blockquote></p><p> While this is not proof positive that the company is back on track, the recent trend is at least encouraging.</p><p><blockquote>虽然这并不能证明该公司重回正轨，但最近的趋势至少令人鼓舞。</blockquote></p><p> In 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.</p><p><blockquote>2020年，IBM产生了108亿美元的自由现金流。2021年调整后自由现金流110亿至120亿美元的管理指南。这不包括与Kyndryl分拆相关的30亿美元结构性影响。</blockquote></p><p> The CEO&nbsp;recently stated&nbsp;he expects IBM to generate $12 billion to $13 billion in FCF in 2022.</p><p><blockquote>这位首席执行官最近表示，他预计IBM将在2022年产生120亿至130亿美元的自由现金流。</blockquote></p><p> <b>Debt And Dividend</b></p><p><blockquote><b>债务和股息</b></blockquote></p><p></p><p> While investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.</p><p><blockquote>虽然投资者可以理所当然地抱怨多年来的各种管理层举措，但该公司在进行多项收购的同时保持了合理的债务状况。</blockquote></p><p> The company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.</p><p><blockquote>自2019年年中达到峰值以来，该公司已将债务减少了约180亿美元。IBM维持投资级信用评级，下图记录了该公司最近偿还债务的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b73e613157c486a5f5e8306546121971\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Source: IBM Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：IBM演示文稿</span></p></blockquote></p><p> IBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.</p><p><blockquote>IBM的收益率为4.64%，派息率略低于61%，5年股息增长率为4.26%。如前所述，Kyndryl分拆后，两家公司将合作提供相当于当前股息的派息。</blockquote></p><p> <b>Is IBM Stock Overvalued?</b></p><p><blockquote><b>IBM股票是否被高估？</b></blockquote></p><p> IBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.</p><p><blockquote>IBM股价交易价格为141.13美元。8位分析师的平均12个月目标价为153.50美元。自上次收益报告以来，对该股进行评级的3位分析师的目标价为151.33美元。</blockquote></p><p> IBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.</p><p><blockquote>IBM的市盈率为24.05倍，远期市盈率为17.67倍。相比之下，其五年平均值分别为16.42倍和13.25倍。这远低于行业平均水平，这两个指标都在三十左右。</blockquote></p><p> The 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.</p><p><blockquote>Seeking Alpha Premium提供的3至5年期PEG为1.16倍。嘉信理财计算的PEG为1.49倍，雅虎没有提供PEG比率。</blockquote></p><p> I believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.</p><p><blockquote>我相信该股目前的市盈率反映了投资者对分拆完成后IBM增长加速的预期。PEG比率显示该股票估值合理。</blockquote></p><p> <b>Is IBM Stock A Good Long-Term Investment?</b></p><p><blockquote><b>IBM股票是一项不错的长期投资吗？</b></blockquote></p><p> IBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.</p><p><blockquote>IBM在全球许多最大的公司中有着根深蒂固但不断发展的地位。不幸的是，被视为该公司主要增长途径的云也可能导致该公司一些遗留业务的缓慢恶化。</blockquote></p><p> That the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.</p><p><blockquote>云业务一直在快速增长是显而易见的：IBM现在拥有超过3,200个客户使用该公司的混合云平台。这几乎是收购红帽之前的四倍。</blockquote></p><p> If management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.</p><p><blockquote>如果管理层的说法准确，混合云平台将为软件和服务部门的收入带来强劲增长。结合Kyndryl缓慢增长的托管基础设施服务业务的分拆，有理由相信IBM将见证增长。</blockquote></p><p> IBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.</p><p><blockquote>IBM拥有稳健的资产负债表和强劲的收益率，当使用PEG比率作为股票估值的基础时，该股的交易价格略有折扣。</blockquote></p><p> All considered, I rate IBM as a BUY.</p><p><blockquote>综合考虑，我对IBM的评级为买入。</blockquote></p><p> I think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.</p><p><blockquote>我认为中短期最糟糕的情况是公司增长缓慢，而投资者则获得相当强劲的股息。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM"},"source_url":"https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176552691","content_text":"Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.\nPrior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.\nMore transparency is needed regarding the Kyndryl spinoff.\n\nEthan Miller/Getty Images News\nInternational Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.\nAlthough the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.\nWhat is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.\nManagement is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.\nRecent Quarterly Results\nIBM reported Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.\nRevenue of $18.7 billion was flat when adjusted for currency and divestitures.\nThe negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.\nThe global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.\nThe positive side of the report had Cloud & Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.\nNet cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.\nSince year-end 2020, the company has reduced debt by $6.4 billion.\nManagement guides for adjusted free cash flow of $11 billion to $12 billion in 2021.\nWhere IBM Stands Tall\nIBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.\nIt is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.\nFor example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.\nHalf of the world’s wireless connections are handled by the firm.\nIBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.\nEight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.\nSource: Forbes\nIt is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.\nHowever, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.\nThe Sources Of Potential Growth\nInvestors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh provided insight into how hybrid cloud drives revenue in some of IBM’s other divisions.\n\n For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.\n\nOf course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.\nBecause hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.\nI reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm forecasts a CAGR of 18.73% from 2021 through 2026.\nInvestors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.\nThe following chart provides a record of the firm’s total cloud growth over the last six quarters.\nSource: Company reports / Chart by Author\nAside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.\nEarly in 2019, IBM introduced the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.\nPardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence forecasts a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.\nFor additional insights regarding quantum computing and IBM’s position within that industry, I point you to my article, “IBM: Why My Eye Is Fixed On Big Blue.”\nUnderstanding Kyndryl\nOnce Kyndryl is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.\nThe split will transform IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.\nGlobal Business Services, which currently constitutes 22% of the company’s revenue, will account for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.\nIBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.\nInitially, the two companies will each be the largest customer of the other.\nWhat remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.\nHas IBM Turned The Corner?\nAnyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.\nSource: Data from ycharts / chart by author\nWhile this is not proof positive that the company is back on track, the recent trend is at least encouraging.\nIn 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.\nThe CEO recently stated he expects IBM to generate $12 billion to $13 billion in FCF in 2022.\nDebt And Dividend\nWhile investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.\nThe company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.\nSource: IBM Presentation\nIBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.\nIs IBM Stock Overvalued?\nIBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.\nIBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.\nThe 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.\nI believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.\nIs IBM Stock A Good Long-Term Investment?\nIBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.\nThat the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.\nIf management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.\nIBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.\nAll considered, I rate IBM as a BUY.\nI think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.","news_type":1,"symbols_score_info":{"IBM":0.9}},"isVote":1,"tweetType":1,"viewCount":391,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171397570,"gmtCreate":1626705435490,"gmtModify":1633924769042,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/171397570","repostId":"1146536243","repostType":4,"repost":{"id":"1146536243","kind":"news","pubTimestamp":1626683272,"share":"https://www.laohu8.com/m/news/1146536243?lang=zh_CN&edition=full","pubTime":"2021-07-19 16:27","market":"us","language":"en","title":"Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：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",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"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,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":243,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152557031,"gmtCreate":1625317818723,"gmtModify":1633941519040,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/152557031","repostId":"1188153141","repostType":4,"repost":{"id":"1188153141","kind":"news","pubTimestamp":1625276221,"share":"https://www.laohu8.com/m/news/1188153141?lang=zh_CN&edition=full","pubTime":"2021-07-03 09:37","market":"us","language":"en","title":"Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188153141","media":"MoneyWise","summary":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for th","content":"<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让投资专家感到担忧，其中包括苏茜·欧曼(Suze Orman)，她甚至表示，她现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一项著名指标——巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下解释了这种担忧的来源，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏西·奥曼是怎么想的？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>Mediapunch/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>几十年来，Suze Orman一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚所发生的事情让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“我不喜欢现在市场上发生的事情，”奥曼在CNBC的视频中表示。“经济一直很糟糕，但股市一直在上涨。”</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样容易，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激支票仍在发放，房地产市场去年也打破了自己的记录，奥曼仍担心冠状病毒会带来什么——特别是在新变种不断出现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得距离上次崩盘已经太久了，不能再保持这么高的高度了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“这让我又想起了2000年，”奥曼说。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦·巴菲特经常用来评估市场的一项指标，以他的名字命名，已经亮起红灯足够长的时间，以至于市场观察人士开始怀疑这是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但衡量股市总价值与美国经济产出比率的巴菲特指标继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士想知道这是否是我们即将看到严重下跌的迹象。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为崩溃做好准备Freedomz/Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>Orman提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1.低吸</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等模因股票的狂热感到如此不安的部分原因是，它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“你们所有人的头都被拧到了后面，”她说。“你想要的只是这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金用于投资401(k)或IRA计划的退休生活。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年内都不打算碰这笔钱，所以最好的长期策略是低吸。这样，你的美元现在将走得更远，为未来20年、30年或40年留下足够的增长空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2.按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡珍/Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然她更喜欢低价买入，但奥曼不建议你在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的涨跌之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济低迷欢呼可能是您获得更大份额利润丰厚的投资的最佳选择——就像一些幸运的投资者在2007年和2008年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“当市场下跌、下跌、下跌时，你可以免费购买东西，”奥曼说。“现在看看15年后的它们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议你建立一个平均成本策略，这意味着无论市场波动如何，你都要定期等量投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易用目前可供DIY投资者使用的许多投资应用程序中的任何一个来实施。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至有些应用程序会通过将您的借记卡和信用卡购买的金额四舍五入到最接近的美元来自动投资您的零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3.通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助应对市场特定角落的下跌，奥曼建议您分散投资——通过投资多种不同类型的资产和经济部门来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法允许你购买一家知名公司的一部分股份，否则你将买不起。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在流行的股票交易工具的帮助下，任何预算的人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“你越早开始，你拥有的钱就越多，”奥曼说。“只是不要停下来，当这些市场下跌时，你应该很高兴，因为你的美元找到了更多的份额。”</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股票越多，20年、40年、50年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹/Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在CNBC视频中表示，无论大崩盘是否即将来临，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>第一，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择Roth账户，无论是401(k)还是IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>这将帮助您在从退休账户中提取资金时避免纳税，因为您对罗斯账户的供款是税后进行的。另一方面，传统IRA在您缴款时无需纳税，因此您最终会稍后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果您发现需要更多指导，与专业财务顾问合作可以帮助您指出正确的方向，以便您可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离路线或矫枉过正时，你将牢牢地坐在驾驶座上，计划好你的晚年。</blockquote></p><p></p>","source":"lsy1621813427262","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>Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MoneyWise</strong><span class=\"h-time small\">2021-07-03 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让投资专家感到担忧，其中包括苏茜·欧曼(Suze Orman)，她甚至表示，她现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一项著名指标——巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下解释了这种担忧的来源，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏西·奥曼是怎么想的？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>Mediapunch/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>几十年来，Suze Orman一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚所发生的事情让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“我不喜欢现在市场上发生的事情，”奥曼在CNBC的视频中表示。“经济一直很糟糕，但股市一直在上涨。”</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样容易，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激支票仍在发放，房地产市场去年也打破了自己的记录，奥曼仍担心冠状病毒会带来什么——特别是在新变种不断出现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得距离上次崩盘已经太久了，不能再保持这么高的高度了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“这让我又想起了2000年，”奥曼说。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦·巴菲特经常用来评估市场的一项指标，以他的名字命名，已经亮起红灯足够长的时间，以至于市场观察人士开始怀疑这是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但衡量股市总价值与美国经济产出比率的巴菲特指标继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士想知道这是否是我们即将看到严重下跌的迹象。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为崩溃做好准备Freedomz/Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>Orman提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1.低吸</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等模因股票的狂热感到如此不安的部分原因是，它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“你们所有人的头都被拧到了后面，”她说。“你想要的只是这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金用于投资401(k)或IRA计划的退休生活。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年内都不打算碰这笔钱，所以最好的长期策略是低吸。这样，你的美元现在将走得更远，为未来20年、30年或40年留下足够的增长空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2.按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡珍/Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然她更喜欢低价买入，但奥曼不建议你在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的涨跌之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济低迷欢呼可能是您获得更大份额利润丰厚的投资的最佳选择——就像一些幸运的投资者在2007年和2008年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“当市场下跌、下跌、下跌时，你可以免费购买东西，”奥曼说。“现在看看15年后的它们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议你建立一个平均成本策略，这意味着无论市场波动如何，你都要定期等量投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易用目前可供DIY投资者使用的许多投资应用程序中的任何一个来实施。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至有些应用程序会通过将您的借记卡和信用卡购买的金额四舍五入到最接近的美元来自动投资您的零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3.通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助应对市场特定角落的下跌，奥曼建议您分散投资——通过投资多种不同类型的资产和经济部门来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法允许你购买一家知名公司的一部分股份，否则你将买不起。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在流行的股票交易工具的帮助下，任何预算的人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“你越早开始，你拥有的钱就越多，”奥曼说。“只是不要停下来，当这些市场下跌时，你应该很高兴，因为你的美元找到了更多的份额。”</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股票越多，20年、40年、50年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹/Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在CNBC视频中表示，无论大崩盘是否即将来临，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>第一，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择Roth账户，无论是401(k)还是IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>这将帮助您在从退休账户中提取资金时避免纳税，因为您对罗斯账户的供款是税后进行的。另一方面，传统IRA在您缴款时无需纳税，因此您最终会稍后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果您发现需要更多指导，与专业财务顾问合作可以帮助您指出正确的方向，以便您可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离路线或矫枉过正时，你将牢牢地坐在驾驶座上，计划好你的晚年。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html\">MoneyWise</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188153141","content_text":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.\nAnd a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.\nHere’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.\nWhat does Suze Orman think?\nMediapunch/Shutterstock\nSuze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.\n“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”\nWhile investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.\nAnd even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.\nWhat's more, she feels it’s just been too long since the last crash to stay this high much longer.\n“This reminds me of 2000 all over again,” Orman says.\nThe Buffett Indicator\nLarry W Smith/EPA/Shutterstock\nOne metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.\nBut the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.\nAnd those in the know are wondering if it's a sign that we’re about to see a hard fall.\nHow to prepare for a crashFreedomz / Shutterstock\nOrman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.\n1. Buy low\nPart of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.\n“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”\nShe points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.\nBecause you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.\n2. Invest on a schedule\nkatjen / Shutterstock\nWhile she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.\nShe wants casual investors to not get caught up in the daily ups and downs of the market.\nIn fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.\n“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”\nShe suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.\nThis kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.\nThere are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.\n3. Diversify with fractional shares\nTo help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.\nOrman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.\nWith the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.\n“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”\n“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”\nWhat else you can do\ngoodluz / Shutterstock\nWhether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.\nFirst, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.\nThen, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.\nThat will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.\nIf you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.\nWhile everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187329730,"gmtCreate":1623742501420,"gmtModify":1634029267016,"author":{"id":"3582017984245680","authorId":"3582017984245680","name":"weiren88","avatar":"https://static.tigerbbs.com/3ed80e22e85c85eae7f5f59401979f9d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582017984245680","idStr":"3582017984245680"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/187329730","repostId":"2143178756","repostType":4,"isVote":1,"tweetType":1,"viewCount":404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}