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AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</blockquote>

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A day earlier, the blue-chip index had set an all-time intraday high before pulling back to end in the red, with a drop in technology stocks weighing.</p><p><blockquote>标普500下降了。一天前，蓝筹股指数创下盘中历史新高，随后回调收红，科技股下跌承压。</blockquote></p><p> U.S. West Texas intermediate crude oil futures (CL=F) recovered losses and rose after dropping more than 1% earlier in the morning. The move came after theWhite House announced it would be releasing a total of 50 million barrels of oil&nbsp;from the Strategic Petroleum Reserve (SPR), in tandem with similar moves from China, Japan, India and South Korea and the U.K., to try and ease rising energy prices with additional supply.</p><p><blockquote>美国西德克萨斯中质原油期货(CL=F)在早盘下跌逾1%后收复失地上涨。此前，白宫宣布将从战略石油储备（SPR）中释放总计5000万桶石油，中国、日本、印度、韩国和英国也采取了类似举措，试图通过增加供应来缓解能源价格上涨。</blockquote></p><p> Shares of Zoom Video Communication (ZM) slid even after the company posted better-than-expected quarterly revenue growth and full-year guidance, with usage of the video conferencing company’s software slowing amid the reopening. Companies including Nordstrom (JWN), The Gap (GPS) and Autodesk (ADSK) are set to report quarterly results on Tuesday.</p><p><blockquote>尽管Zoom Video通信公司(ZM)公布了好于预期的季度收入增长和全年指引，但该公司的股价仍下跌，因为该视频会议公司软件的使用在重新开业期间放缓。Nordstrom(JWN)、Gap(GPS)和Autodesk(ADSK)等公司将于周二公布季度业绩。</blockquote></p><p> Federal Reserve Chair Jerome Powell’s renomination to the top leadership position at the central bank captured market attention this week, with many investors reacting favorably to the likelihood that the Fed’spreviously telegraphed monetary policy framework would remain in place&nbsp;with Powell's reappointment. That includes expectations for current asset-purchase tapering to take place through the middle of next year, and for at least one interest rate hike to take place before the end of 2022.</p><p><blockquote>美联储主席杰罗姆·鲍威尔（Jerome Powell）被重新提名为央行最高领导职位本周引起了市场的关注，许多投资者对美联储此前公布的货币政策框架在鲍威尔连任后可能保持不变做出了积极反应。这包括对当前资产购买缩减将在明年年中进行的预期，以及在2022年底之前至少进行一次加息。</blockquote></p><p> “Continuity at a time of such extraordinary uncertainty is certainly welcome news. We have extraordinary uncertainty because we’re pivoting from the phase of the cycle where the Fed had been shoring up the recovery from the pandemic-induced recession, and … it did avoid a meltdown in financial markets,” Diane Swonk, Grant Thornton chief economist,told Yahoo Finance Live.“But now we’ve got very easy financial market conditions and we’re dealing with inflation. And having to pivot to dealing with inflation and tamp it down without derailing the recovery — that’s a very hard thing to pull off. We’ve not seen the Fed actually chase inflation down since the early 1980s.”</p><p><blockquote>均富首席经济学家黛安·斯旺克(Diane Swonk)对雅虎财经直播表示：“在这种异常不确定的时期，保持连续性当然是一个受欢迎的消息。我们面临着异常不确定的局面，因为我们正在从美联储一直在支撑从大流行引发的衰退中复苏的周期阶段转向，而且……它确实避免了金融市场的崩溃。但现在我们的金融市场状况非常轻松，我们正在应对通胀。必须转向应对通胀并在不破坏复苏的情况下抑制通胀——这是一件非常困难的事情。自20世纪80年代初以来，我们还没有看到美联储真正追逐通胀。”</blockquote></p><p> President Joe Biden also nominated Fed Governor Lael Brainard – previously viewed as a potential candidate for the Fed Chair position to replace Powell — as Vice Chair of the Board of Governors for the Fed. With these two nominations in place, market participants have turned their attention to who might fill he three vacant and soon-to-be vacant seats on the Fed Board, which includes the key Vice Chair for Supervision role. Biden said in a press statement Monday morning he expected to announce those appointments “beginning in early December.”</p><p><blockquote>总统乔·拜登还提名美联储理事莱尔·布雷纳德（Lael Brainard）担任美联储理事会副主席，此前他被视为接替鲍威尔的美联储主席职位的潜在候选人。随着这两项提名的到位，市场参与者将注意力转向谁可能填补美联储董事会的三个空缺和即将空缺的席位，其中包括负责监管的关键副主席。拜登在周一上午的新闻声明中表示，他预计将“从12月初开始”宣布这些任命。</blockquote></p><p> “Political decisions like this are competitions between affinity — you like someone in your own party — and convenience — what can you get the Senate to do for you, and will markets receive it well? You have to view the Powell-Brainard picks as part … of a bigger package,” Vincent Reinhart, Dreyfus-Mellon chief economist and macro strategist,told Yahoo Finance Live.“The White House is going to have three new governors to appoint, and presumably that’s going to tilt more progressive. So bottom-line, six months from now, the group of people that Chair Powell has to wrangle to make decisions is going to be more dovish than it is today.”</p><p><blockquote>“像这样的政治决策是亲和力（你喜欢自己党内的某个人）和便利性之间的竞争——你能让参议院为你做什么，市场会接受吗？你必须将鲍威尔-布雷纳德的选择视为……更大方案的一部分，”德雷福斯-梅隆首席经济学家兼宏观策略师文森特·莱因哈特(Vincent Reinhart)告诉雅虎财经直播。“白宫将任命三位新州长，想必这会更倾向于进步。所以底线是，从现在起六个月后，鲍威尔主席在做出决定时必须与之争吵的一群人将比今天更加鸽派。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks open little changed after Monday’s afternoon slide<blockquote>周一下午下跌后股市开盘变化不大</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks open little changed after Monday’s afternoon slide<blockquote>周一下午下跌后股市开盘变化不大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-23 22:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Stocks were mostly lower Tuesday with technology stocks under further pressure, as investors further mulled the market implications of Federal Reserve Jerome Powell’s renomination to lead the central bank.</p><p><blockquote>周二股市大多走低，科技股进一步承压，因投资者进一步考虑美联储杰罗姆·鲍威尔重新提名美联储主席对市场的影响。</blockquote></p><p> The S&amp;P 500 ticked down. A day earlier, the blue-chip index had set an all-time intraday high before pulling back to end in the red, with a drop in technology stocks weighing.</p><p><blockquote>标普500下降了。一天前，蓝筹股指数创下盘中历史新高，随后回调收红，科技股下跌承压。</blockquote></p><p> U.S. West Texas intermediate crude oil futures (CL=F) recovered losses and rose after dropping more than 1% earlier in the morning. The move came after theWhite House announced it would be releasing a total of 50 million barrels of oil&nbsp;from the Strategic Petroleum Reserve (SPR), in tandem with similar moves from China, Japan, India and South Korea and the U.K., to try and ease rising energy prices with additional supply.</p><p><blockquote>美国西德克萨斯中质原油期货(CL=F)在早盘下跌逾1%后收复失地上涨。此前，白宫宣布将从战略石油储备（SPR）中释放总计5000万桶石油，中国、日本、印度、韩国和英国也采取了类似举措，试图通过增加供应来缓解能源价格上涨。</blockquote></p><p> Shares of Zoom Video Communication (ZM) slid even after the company posted better-than-expected quarterly revenue growth and full-year guidance, with usage of the video conferencing company’s software slowing amid the reopening. Companies including Nordstrom (JWN), The Gap (GPS) and Autodesk (ADSK) are set to report quarterly results on Tuesday.</p><p><blockquote>尽管Zoom Video通信公司(ZM)公布了好于预期的季度收入增长和全年指引，但该公司的股价仍下跌，因为该视频会议公司软件的使用在重新开业期间放缓。Nordstrom(JWN)、Gap(GPS)和Autodesk(ADSK)等公司将于周二公布季度业绩。</blockquote></p><p> Federal Reserve Chair Jerome Powell’s renomination to the top leadership position at the central bank captured market attention this week, with many investors reacting favorably to the likelihood that the Fed’spreviously telegraphed monetary policy framework would remain in place&nbsp;with Powell's reappointment. That includes expectations for current asset-purchase tapering to take place through the middle of next year, and for at least one interest rate hike to take place before the end of 2022.</p><p><blockquote>美联储主席杰罗姆·鲍威尔（Jerome Powell）被重新提名为央行最高领导职位本周引起了市场的关注，许多投资者对美联储此前公布的货币政策框架在鲍威尔连任后可能保持不变做出了积极反应。这包括对当前资产购买缩减将在明年年中进行的预期，以及在2022年底之前至少进行一次加息。</blockquote></p><p> “Continuity at a time of such extraordinary uncertainty is certainly welcome news. We have extraordinary uncertainty because we’re pivoting from the phase of the cycle where the Fed had been shoring up the recovery from the pandemic-induced recession, and … it did avoid a meltdown in financial markets,” Diane Swonk, Grant Thornton chief economist,told Yahoo Finance Live.“But now we’ve got very easy financial market conditions and we’re dealing with inflation. And having to pivot to dealing with inflation and tamp it down without derailing the recovery — that’s a very hard thing to pull off. We’ve not seen the Fed actually chase inflation down since the early 1980s.”</p><p><blockquote>均富首席经济学家黛安·斯旺克(Diane Swonk)对雅虎财经直播表示：“在这种异常不确定的时期，保持连续性当然是一个受欢迎的消息。我们面临着异常不确定的局面，因为我们正在从美联储一直在支撑从大流行引发的衰退中复苏的周期阶段转向，而且……它确实避免了金融市场的崩溃。但现在我们的金融市场状况非常轻松，我们正在应对通胀。必须转向应对通胀并在不破坏复苏的情况下抑制通胀——这是一件非常困难的事情。自20世纪80年代初以来，我们还没有看到美联储真正追逐通胀。”</blockquote></p><p> President Joe Biden also nominated Fed Governor Lael Brainard – previously viewed as a potential candidate for the Fed Chair position to replace Powell — as Vice Chair of the Board of Governors for the Fed. With these two nominations in place, market participants have turned their attention to who might fill he three vacant and soon-to-be vacant seats on the Fed Board, which includes the key Vice Chair for Supervision role. Biden said in a press statement Monday morning he expected to announce those appointments “beginning in early December.”</p><p><blockquote>总统乔·拜登还提名美联储理事莱尔·布雷纳德（Lael Brainard）担任美联储理事会副主席，此前他被视为接替鲍威尔的美联储主席职位的潜在候选人。随着这两项提名的到位，市场参与者将注意力转向谁可能填补美联储董事会的三个空缺和即将空缺的席位，其中包括负责监管的关键副主席。拜登在周一上午的新闻声明中表示，他预计将“从12月初开始”宣布这些任命。</blockquote></p><p> “Political decisions like this are competitions between affinity — you like someone in your own party — and convenience — what can you get the Senate to do for you, and will markets receive it well? You have to view the Powell-Brainard picks as part … of a bigger package,” Vincent Reinhart, Dreyfus-Mellon chief economist and macro strategist,told Yahoo Finance Live.“The White House is going to have three new governors to appoint, and presumably that’s going to tilt more progressive. So bottom-line, six months from now, the group of people that Chair Powell has to wrangle to make decisions is going to be more dovish than it is today.”</p><p><blockquote>“像这样的政治决策是亲和力（你喜欢自己党内的某个人）和便利性之间的竞争——你能让参议院为你做什么，市场会接受吗？你必须将鲍威尔-布雷纳德的选择视为……更大方案的一部分，”德雷福斯-梅隆首席经济学家兼宏观策略师文森特·莱因哈特(Vincent Reinhart)告诉雅虎财经直播。“白宫将任命三位新州长，想必这会更倾向于进步。所以底线是，从现在起六个月后，鲍威尔主席在做出决定时必须与之争吵的一群人将比今天更加鸽派。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112277303","content_text":"Stocks were mostly lower Tuesday with technology stocks under further pressure, as investors further mulled the market implications of Federal Reserve Jerome Powell’s renomination to lead the central bank.\nThe S&P 500 ticked down. A day earlier, the blue-chip index had set an all-time intraday high before pulling back to end in the red, with a drop in technology stocks weighing.\nU.S. West Texas intermediate crude oil futures (CL=F) recovered losses and rose after dropping more than 1% earlier in the morning. The move came after theWhite House announced it would be releasing a total of 50 million barrels of oil from the Strategic Petroleum Reserve (SPR), in tandem with similar moves from China, Japan, India and South Korea and the U.K., to try and ease rising energy prices with additional supply.\nShares of Zoom Video Communication (ZM) slid even after the company posted better-than-expected quarterly revenue growth and full-year guidance, with usage of the video conferencing company’s software slowing amid the reopening. Companies including Nordstrom (JWN), The Gap (GPS) and Autodesk (ADSK) are set to report quarterly results on Tuesday.\nFederal Reserve Chair Jerome Powell’s renomination to the top leadership position at the central bank captured market attention this week, with many investors reacting favorably to the likelihood that the Fed’spreviously telegraphed monetary policy framework would remain in place with Powell's reappointment. That includes expectations for current asset-purchase tapering to take place through the middle of next year, and for at least one interest rate hike to take place before the end of 2022.\n“Continuity at a time of such extraordinary uncertainty is certainly welcome news. We have extraordinary uncertainty because we’re pivoting from the phase of the cycle where the Fed had been shoring up the recovery from the pandemic-induced recession, and … it did avoid a meltdown in financial markets,” Diane Swonk, Grant Thornton chief economist,told Yahoo Finance Live.“But now we’ve got very easy financial market conditions and we’re dealing with inflation. And having to pivot to dealing with inflation and tamp it down without derailing the recovery — that’s a very hard thing to pull off. We’ve not seen the Fed actually chase inflation down since the early 1980s.”\nPresident Joe Biden also nominated Fed Governor Lael Brainard – previously viewed as a potential candidate for the Fed Chair position to replace Powell — as Vice Chair of the Board of Governors for the Fed. With these two nominations in place, market participants have turned their attention to who might fill he three vacant and soon-to-be vacant seats on the Fed Board, which includes the key Vice Chair for Supervision role. Biden said in a press statement Monday morning he expected to announce those appointments “beginning in early December.”\n“Political decisions like this are competitions between affinity — you like someone in your own party — and convenience — what can you get the Senate to do for you, and will markets receive it well? You have to view the Powell-Brainard picks as part … of a bigger package,” Vincent Reinhart, Dreyfus-Mellon chief economist and macro strategist,told Yahoo Finance Live.“The White House is going to have three new governors to appoint, and presumably that’s going to tilt more progressive. So bottom-line, six months from now, the group of people that Chair Powell has to wrangle to make decisions is going to be more dovish than it is today.”","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2867,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":876455640,"gmtCreate":1637346937043,"gmtModify":1637346969577,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/876455640","repostId":"1147403588","repostType":4,"repost":{"id":"1147403588","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":1637332561,"share":"https://www.laohu8.com/m/news/1147403588?lang=zh_CN&edition=full","pubTime":"2021-11-19 22:36","market":"us","language":"en","title":"Roblox stock jumped 5% in morning trading<blockquote>Roblox股价早盘上涨5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147403588","media":"Tiger Newspress","summary":"Roblox stock jumped 5% in morning trading as Morgan Stanley sets Street-high price target on it.\n\nMo","content":"<p>Roblox stock jumped 5% in morning trading&nbsp;as&nbsp;Morgan Stanley sets Street-high price target on it.</p><p><blockquote>摩根士丹利为Roblox设定了华尔街最高目标价，Roblox股价在早盘交易中上涨5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8f2970feb5e54b6d376b4d16f41917d5\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Morgan Stanley analyst Brian Nowak said in a note to clients Wednesday evening that the stock still has more room to run.</p><p><blockquote>摩根士丹利分析师布莱恩·诺瓦克在周三晚间给客户的一份报告中表示，该股仍有更大的上涨空间。</blockquote></p><p> “RBLX’s 3Q results and analyst day highlighted its early leadership in the metaverse and continued innovation to capitalize on materially higher long-term monetization opportunity. At 3Q results, we were particularly encouraged by the October trends ... as we think they speak to RBLX’s better than appreciated growth runway/ability to continue growing its user base, engagement and monetization even through reopening,” Nowak wrote.</p><p><blockquote>“RBLX的第三季度业绩和分析师日凸显了其在元宇宙的早期领导地位以及持续创新，以利用大幅增加的长期货币化机会。在第三季度业绩中，我们对10月份的趋势感到特别鼓舞……因为我们认为它们表明了RBLX的增长跑道/即使在重新开放的情况下也能继续扩大其用户群、参与度和货币化的能力，”诺瓦克写道。</blockquote></p><p> Morgan Stanley raised its price target on Roblox to $150 per share from $88. The new target is 20% above where the stock closed Wednesday and is the highest among major Wall Street firms, according to FactSet. Shares rose nearly 4% in premarket trading Thursday.</p><p><blockquote>摩根士丹利将Roblox的目标价从每股88美元上调至150美元。FactSet的数据显示，新目标比该股周三收盘价高出20%，是华尔街主要公司中最高的。周四盘前交易中，股价上涨近4%。</blockquote></p><p> The increased focus of companies on the metaverse should help Roblox expand its revenue opportunities in the years ahead, according to Morgan Stanley.</p><p><blockquote>摩根士丹利表示，公司对元宇宙的日益关注应该有助于Roblox在未来几年扩大其收入机会。</blockquote></p><p> “We were most encouraged by management’s statement that ‘in the next 3-5 years, all brands will have a Roblox Strategy’, as we believe this speaks to the company’s focus on driving higher branded monetization,” the note said.</p><p><blockquote>报告称：“管理层的声明‘在未来3-5年内，所有品牌都将制定Roblox战略’，这让我们深受鼓舞，因为我们相信这表明该公司专注于推动更高的品牌货币化。”</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>Roblox stock jumped 5% in morning trading<blockquote>Roblox股价早盘上涨5%</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\">\nRoblox stock jumped 5% in morning trading<blockquote>Roblox股价早盘上涨5%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-19 22:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Roblox stock jumped 5% in morning trading&nbsp;as&nbsp;Morgan Stanley sets Street-high price target on it.</p><p><blockquote>摩根士丹利为Roblox设定了华尔街最高目标价，Roblox股价在早盘交易中上涨5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8f2970feb5e54b6d376b4d16f41917d5\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Morgan Stanley analyst Brian Nowak said in a note to clients Wednesday evening that the stock still has more room to run.</p><p><blockquote>摩根士丹利分析师布莱恩·诺瓦克在周三晚间给客户的一份报告中表示，该股仍有更大的上涨空间。</blockquote></p><p> “RBLX’s 3Q results and analyst day highlighted its early leadership in the metaverse and continued innovation to capitalize on materially higher long-term monetization opportunity. At 3Q results, we were particularly encouraged by the October trends ... as we think they speak to RBLX’s better than appreciated growth runway/ability to continue growing its user base, engagement and monetization even through reopening,” Nowak wrote.</p><p><blockquote>“RBLX的第三季度业绩和分析师日凸显了其在元宇宙的早期领导地位以及持续创新，以利用大幅增加的长期货币化机会。在第三季度业绩中，我们对10月份的趋势感到特别鼓舞……因为我们认为它们表明了RBLX的增长跑道/即使在重新开放的情况下也能继续扩大其用户群、参与度和货币化的能力，”诺瓦克写道。</blockquote></p><p> Morgan Stanley raised its price target on Roblox to $150 per share from $88. The new target is 20% above where the stock closed Wednesday and is the highest among major Wall Street firms, according to FactSet. Shares rose nearly 4% in premarket trading Thursday.</p><p><blockquote>摩根士丹利将Roblox的目标价从每股88美元上调至150美元。FactSet的数据显示，新目标比该股周三收盘价高出20%，是华尔街主要公司中最高的。周四盘前交易中，股价上涨近4%。</blockquote></p><p> The increased focus of companies on the metaverse should help Roblox expand its revenue opportunities in the years ahead, according to Morgan Stanley.</p><p><blockquote>摩根士丹利表示，公司对元宇宙的日益关注应该有助于Roblox在未来几年扩大其收入机会。</blockquote></p><p> “We were most encouraged by management’s statement that ‘in the next 3-5 years, all brands will have a Roblox Strategy’, as we believe this speaks to the company’s focus on driving higher branded monetization,” the note said.</p><p><blockquote>报告称：“管理层的声明‘在未来3-5年内，所有品牌都将制定Roblox战略’，这让我们深受鼓舞，因为我们相信这表明该公司专注于推动更高的品牌货币化。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RBLX":"Roblox Corporation"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147403588","content_text":"Roblox stock jumped 5% in morning trading as Morgan Stanley sets Street-high price target on it.\n\nMorgan Stanley analyst Brian Nowak said in a note to clients Wednesday evening that the stock still has more room to run.\n“RBLX’s 3Q results and analyst day highlighted its early leadership in the metaverse and continued innovation to capitalize on materially higher long-term monetization opportunity. At 3Q results, we were particularly encouraged by the October trends ... as we think they speak to RBLX’s better than appreciated growth runway/ability to continue growing its user base, engagement and monetization even through reopening,” Nowak wrote.\nMorgan Stanley raised its price target on Roblox to $150 per share from $88. The new target is 20% above where the stock closed Wednesday and is the highest among major Wall Street firms, according to FactSet. Shares rose nearly 4% in premarket trading Thursday.\nThe increased focus of companies on the metaverse should help Roblox expand its revenue opportunities in the years ahead, according to Morgan Stanley.\n“We were most encouraged by management’s statement that ‘in the next 3-5 years, all brands will have a Roblox Strategy’, as we believe this speaks to the company’s focus on driving higher branded monetization,” the note said.","news_type":1,"symbols_score_info":{"RBLX":0.9}},"isVote":1,"tweetType":1,"viewCount":2253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":873106722,"gmtCreate":1636870580244,"gmtModify":1636870580314,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/873106722","repostId":"1175907621","repostType":4,"repost":{"id":"1175907621","kind":"news","pubTimestamp":1636853227,"share":"https://www.laohu8.com/m/news/1175907621?lang=zh_CN&edition=full","pubTime":"2021-11-14 09:27","market":"us","language":"en","title":"Rivian Soars On IPO, But These 3 EV Stocks Are Better Buys Now<blockquote>Rivian IPO股价飙升，但这3只电动汽车股票现在更值得买入</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175907621","media":"Motley Fool","summary":"Rivian has a bright future as a company, but its stock is priced to perfection. Here are 3 picks that are a better value with more upside potential.","content":"<p><b>Rivian Automotive</b>(NASDAQ:RIVN)has hit the market with a bang, trading more than 30% over its IPO price and now sporting a market cap near $100 billion. This is despite only producing about 15 vehicles per week right now. The company has a bright future, but investors looking for any value in&nbsp;electric vehicle stocks&nbsp;should probably look elsewhere right now.</p><p><blockquote><b>Rivian汽车</b>（纳斯达克股票代码：RIVN）在市场上大放异彩，交易价格比IPO价格高出30%以上，目前市值接近1000亿美元。尽管目前每周仅生产约15辆汽车。该公司有着光明的未来，但寻求电动汽车股票价值的投资者现在可能应该把目光投向其他地方。</blockquote></p><p> Three of our Fool.com contributors ,Travis Hoium, Howard Smith, and Daniel Foelber think&nbsp;<b>General Motors</b>(NYSE:GM),<b>ChargePoint Holdings</b>(NYSE:CHPT), and&nbsp;<b>Lucid Group</b>(NASDAQ:LCID)&nbsp;are all better buys than Rivian today.</p><p><blockquote>我们的三位Fool.com撰稿人Travis Hoium、Howard Smith和Daniel Foelber认为<b>通用汽车</b>（纽约证券交易所代码：GM），<b>ChargePoint控股</b>（纽约证券交易所代码：CHPT），以及<b>Lucid集团</b>（纳斯达克：LCID）如今都比Rivian更划算。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38583e5ca55657c01e76a6eb4bab1782\" tg-width=\"2000\" tg-height=\"1331\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>The leader in autonomous driving</b></p><p><blockquote><b>自动驾驶的领头羊</b></blockquote></p><p> <b>Travis Hoium(General Motors):</b>As companies like Rivian get all the headlines in electric vehicles, General Motors is quietly building out the technology and manufacturing capacity totransition entirely to electric vehicles by 2035. That includes 30 EV models that will launch globally by 2025, including cars, trucks, and SUVs.</p><p><blockquote><b>特拉维斯·霍伊姆（通用汽车）：</b>随着Rivian等公司在电动汽车领域占据所有头条新闻，通用汽车正在悄悄地建设技术和制造能力，以便到2035年完全过渡到电动汽车。其中包括将于2025年在全球推出的30款电动汽车车型，包括轿车、卡车和SUV。</blockquote></p><p> But it isn't GM's EV capacity that makes it a better buy than Rivian, it's the company's majority ownership of Cruise, the autonomous ride-sharing company, that provides the most upside. GM is providing Cruise with design and manufacturing capabilities to build autonomous vehicles like the Cruise Origin (shown above), a self-driving shuttle for ride-sharing developed in a partnership between Cruise, GM, and&nbsp;<b>Honda</b>. Cruise is developing autonomous driving hardware and software that go into Origin and eventually a ride-sharing business. GM is also providing funding to build out Cruise's vehicle infrastructure, which could cost many billions of dollars, starting with a $5 billion line of credit to buy Cruise Origins.</p><p><blockquote>但并不是通用汽车的电动汽车产能使其比Rivian更值得购买，而是该公司对自动驾驶共享公司Cruise的多数股权提供了最大的上涨空间。通用汽车正在为Cruise提供设计和制造能力，以制造Cruise Origin（如上图所示）等自动驾驶汽车，这是一款由Cruise、通用汽车和<b>本田</b>.Cruise正在开发自动驾驶硬件和软件，这些硬件和软件将进入Origin并最终成为拼车业务。通用汽车还提供资金来建设Cruise的车辆基础设施，这可能耗资数十亿美元，首先是购买Cruise Origins的50亿美元信贷额度。</blockquote></p><p> In time, autonomous vehicles could reduce the cost of traveling in cities and even make vehicle ownership obsolete. Cruise is leading the way into this market, and that provides tremendous upside for GM. This may be an old company in the auto industry, but it's making great strategic moves to be a leader in the future of electric and autonomous vehicles.</p><p><blockquote>随着时间的推移，自动驾驶汽车可以降低城市出行成本，甚至使汽车所有权过时。Cruise正在引领这一市场，这为通用汽车提供了巨大的上升空间。这可能是一家汽车行业的老公司，但它正在采取重大战略举措，成为未来电动和自动驾驶汽车的领导者。</blockquote></p><p> <b>Picks and shovels</b></p><p><blockquote><b>镐和铲子</b></blockquote></p><p> <b>Howard Smith(ChargePoint Holdings)</b>:Rivian's public debut&nbsp;generated a lot of excitement for good reason. The company has big backers and reportedly a backlog of orders for both fleets and consumer electric vehicles (EVs). But investors have seen plenty of examples where initial excitement causes a spike in valuation that doesn't always last.</p><p><blockquote><b>霍华德·史密斯（ChargePoint Holdings）</b>：Rivian的首次公开亮相引起了很多兴奋，这是有充分理由的。该公司拥有大量支持者，据报道，车队和消费电动汽车(EV)都积压了订单。但投资者已经看到了很多例子，最初的兴奋会导致估值飙升，但这并不总是持续下去。</blockquote></p><p> Another exciting recent event for EV investors was the passage of a federal infrastructure bill that will push $7.5 billion to help build out the charging infrastructure needed for this country to expand EV ownership. ChargePoint Holdings is the leader in that space with more than 118,000 charging ports, including more than 3,700 DC fast chargers. The vast majority of those stations are in the U.S., though the company is also growing its business in Europe where it already has 5,400 charging locations.</p><p><blockquote>对于电动汽车投资者来说，最近另一个令人兴奋的事件是联邦基础设施法案的通过，该法案将斥资75亿美元帮助建设该国扩大电动汽车保有量所需的充电基础设施。ChargePoint Holdings是该领域的领导者，拥有超过118,000个充电端口，其中包括超过3,700个直流快速充电器。这些充电站绝大多数位于美国，尽管该公司也在欧洲发展业务，在那里已经拥有5400个充电站。</blockquote></p><p> Those federal infrastructure funds will be sent to states that will issue grants to the charging network companies, which will make up the country's network. And that should be a big shot in the arm for ChargePoint as the largest operator in the country. Even prior to the realization of that catalyst, ChargePoint was growing its business beyond what it had predicted before its public debut.</p><p><blockquote>这些联邦基础设施资金将被送往各州，各州将向充电网络公司发放补助金，这些公司将组成该国的网络。对于ChargePoint作为美国最大的运营商来说，这应该是一剂强心针。甚至在这一催化剂实现之前，ChargePoint的业务增长就超出了上市前的预期。</blockquote></p><p> The company recorded $146 million in revenue&nbsp;for its full fiscal year 2021 that ended Jan. 31, 2021. In its most recently reported quarter ended July 31, 2021, it raised its revenue guidance for its current fiscal year by 15% to a range of $225 million to $235 million. At the midpoint, that would represent annual revenue growth of 57.5%, even without the added catalyst of federal funds.</p><p><blockquote>该公司截至2021年1月31日的2021财年全年收入为1.46亿美元。在截至2021年7月31日的最新报告的季度中，该公司将本财年的收入指引上调了15%，至2.25亿美元至2.35亿美元。在中点，即使没有联邦基金的额外催化剂，这也意味着年收入增长57.5%。</blockquote></p><p> ChargePoint generated its own excitement when it announced it would begin trading publicly last year. The stock is almost 50% off the peak price reached at the end of Dec. 2020 prior to the closing of its merger with the&nbsp;special purpose acquisition company (SPAC)&nbsp;that brought it public. It wouldn't be surprising to see Rivian's stock fluctuate as well. But for Rivian -- and all the other EV makers -- to be successful, there will need to be charging infrastructure in place. That makes ChargePoint a \"picks and shovels\" type of investment for the rapidly growing EV sector. That could make it a better investment today than adding to Rivian's early hype.</p><p><blockquote>当ChargePoint去年宣布将开始公开交易时，它引起了自己的兴奋。该股较2020年12月底与上市的特殊目的收购公司(SPAC)合并完成之前达到的峰值价格低了近50%。看到Rivian的股价也出现波动也就不足为奇了。但Rivian和所有其他电动汽车制造商要想取得成功，就需要建立充电基础设施。这使得ChargePoint成为快速增长的电动汽车行业的“镐和铲子”类型的投资。这可能使其成为今天比Rivian早期炒作更好的投资。</blockquote></p><p> <b>Lucid is proving it can compete against the best in the business</b></p><p><blockquote><b>Lucid正在证明它可以与业内最好的公司竞争</b></blockquote></p><p></p><p> <b>Daniel Foelber(Lucid Group):</b>Rivian's roughly $120 billion market capitalization is raising eyebrows considering the company is relatively unproven. Similarly, Lucid Motors has received its fair share of criticism for sporting a $65 billion market cap just over a month into the&nbsp;mass production of its Lucid Air Dream Edition luxury sedan.</p><p><blockquote><b>丹尼尔·福尔伯（Lucid Group）：</b>考虑到Rivian相对未经证实，该公司约1200亿美元的市值令人惊讶。同样，Lucid Motors也因其Lucid Air Dream Edition豪华轿车量产仅一个多月就拥有650亿美元的市值而受到了相当多的批评。</blockquote></p><p> Rivian and Lucid are pricey, and it's hard to say which is the better value now. Rivian has received backing from&nbsp;<b>Amazon</b>&nbsp;and&nbsp;<b>Ford</b>&nbsp;as it targets the higher-end electric lifestyle truck and electric delivery van markets. Similar to&nbsp;<b>Tesla</b>(NASDAQ:TSLA), the company is bypassing the dealership framework of traditional automakers by&nbsp;marketing directly to consumers. Rivian also plans to build its own charging network to make electricity more accessible in remote places where a core part of its outdoor-focused target demographic requires the ability to charge. By comparison,Lucid doesn't feel the need to invest in its own charging network, choosing instead to save money by partnering with the growing list of third-party charging providers.</p><p><blockquote>Rivian和Lucid价格昂贵，现在很难说哪个更有价值。Rivian得到了来自<b>亚马逊</b>和<b>福特</b>因为它的目标是高端电动生活卡车和电动送货车市场。类似于<b>特斯拉</b>（纳斯达克：TSLA），该公司正在绕过传统汽车制造商的经销商框架，直接向消费者营销。Rivian还计划建立自己的充电网络，以使偏远地区更容易获得电力，这些地区以户外为重点的目标人群的核心部分需要充电能力。相比之下，Lucid认为没有必要投资自己的充电网络，而是选择通过与越来越多的第三方充电提供商合作来节省资金。</blockquote></p><p> Rivian has already faced delivery delays due to the global chip shortage. By comparison, Lucid has quickly built a&nbsp;reputation for delivering on its promises, having hit all of its major 2021 goals on time. Lucid also has an excellent management team and plenty of cash to fund its 2022 operations.</p><p><blockquote>由于全球芯片短缺，Rivian已经面临交付延迟。相比之下，Lucid因兑现承诺而迅速建立了声誉，按时实现了2021年的所有主要目标。Lucid还拥有优秀的管理团队和充足的现金来资助其2022年的运营。</blockquote></p><p> Arguably the best reason&nbsp;why there's never been a better time to buy Lucid stock&nbsp;is that the company has achieved incredible engineering feats that&nbsp;rival Tesla-- the undisputed champ in the EV industry. Packing in more battery cells can help improve performance, but Lucid isn't doing that. Instead, it has built a&nbsp;compact battery pack&nbsp;that sports a battery efficiency of 4.5 miles per kilowatt-hour (mi/kWh) of stored energy, which is higher than the Tesla Model S, Jaguar I-Pace, Porsche Taycan, and other competitors. Lucid management believes that battery efficiency is the key differentiating factor, not just higher horsepower and range. With the Lucid Air Dream Edition and Grand Touring, it has outdone the competition in both efficiency ratings and performance -- albeit for a high price tag.</p><p><blockquote>可以说，购买Lucid股票的最佳时机是该公司取得了令人难以置信的工程壮举，可与电动汽车行业无可争议的冠军特斯拉相媲美。装入更多电池有助于提高性能，但Lucid并没有这样做。相反，它制造了一个紧凑的电池组，电池效率为每千瓦时（mi/kWh）存储能量4.5英里，高于特斯拉Model S、捷豹I-Pace、保时捷Taycan和其他竞争对手。Lucid管理层认为，电池效率是关键的差异化因素，而不仅仅是更高的马力和续航里程。凭借Lucid Air Dream Edition和Grand Touring，它在效率评级和性能方面都超越了竞争对手，尽管价格较高。</blockquote></p><p> Rivian supporters would argue that not only does Rivian have a nice head start in the lifestyle EV pickup truck market, but it's also going to be a relatively insulated market because seasoned automakers like Ford and GM are only challenging the standard pickup truck market (for now). By comparison, Lucid plans to roll out lower prices trims of its sedan that would have to compete against expensive but much more \"affordable\" luxury sedan leaders. In doing so, it plans to lower the horsepower and range of its cars, which would bridge the gap between its advantages and the competition. However, what gives Lucid the edge over Rivian is that it has proven it can go toe-to-toe with the best in the business, hit its targets, and has plans to&nbsp;grow quickly in 2022 and beyond.</p><p><blockquote>Rivian的支持者会认为，Rivian不仅在生活方式电动皮卡市场有一个良好的开端，而且它也将是一个相对孤立的市场，因为福特和通用等经验丰富的汽车制造商只是在挑战标准皮卡市场（目前）。相比之下，Lucid计划推出价格较低的轿车，以与昂贵但更“实惠”的豪华轿车领导者竞争。通过这样做，它计划降低汽车的马力和续航里程，这将缩小其优势与竞争对手之间的差距。然而，Lucid相对于Rivian的优势在于，它已经证明自己可以与业内最优秀的公司正面交锋，实现目标，并计划在2022年及以后快速增长。</blockquote></p><p> Given that the growth trajectory is mapped out, Lucid has a clear path toward even greater success. However, investors should be aware that Lucid stock is likely to remain extremely volatile as the company works toward scaling production.</p><p><blockquote>鉴于增长轨迹已经规划好，Lucid有一条通往更大成功的清晰道路。然而，投资者应该意识到，随着Lucid公司努力扩大生产规模，该公司的股票可能会保持极度波动。</blockquote></p><p> <b>EVs are here to stay</b></p><p><blockquote><b>电动汽车将继续存在</b></blockquote></p><p> What we all agree on is that electric vehicles are here to stay. They're now competitive with fossil fuel vehicles in range, costs are coming down, and the innovative companies making EVs are enabling autonomy as well. The entire EV space has huge potential; we just think GM, ChargePoint, and Lucid are better buys than Rivian at today's price.</p><p><blockquote>我们都同意电动汽车将继续存在。它们现在在续航里程上与化石燃料汽车具有竞争力，成本正在下降，制造电动汽车的创新公司也在实现自动驾驶。整个电动汽车领域潜力巨大；我们只是认为，以今天的价格，通用汽车、ChargePoint和Lucid比Rivian更值得购买。</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>Rivian Soars On IPO, But These 3 EV Stocks Are Better Buys Now<blockquote>Rivian IPO股价飙升，但这3只电动汽车股票现在更值得买入</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\">\nRivian Soars On IPO, But These 3 EV Stocks Are Better Buys Now<blockquote>Rivian IPO股价飙升，但这3只电动汽车股票现在更值得买入</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-11-14 09:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Rivian Automotive</b>(NASDAQ:RIVN)has hit the market with a bang, trading more than 30% over its IPO price and now sporting a market cap near $100 billion. This is despite only producing about 15 vehicles per week right now. The company has a bright future, but investors looking for any value in&nbsp;electric vehicle stocks&nbsp;should probably look elsewhere right now.</p><p><blockquote><b>Rivian汽车</b>（纳斯达克股票代码：RIVN）在市场上大放异彩，交易价格比IPO价格高出30%以上，目前市值接近1000亿美元。尽管目前每周仅生产约15辆汽车。该公司有着光明的未来，但寻求电动汽车股票价值的投资者现在可能应该把目光投向其他地方。</blockquote></p><p> Three of our Fool.com contributors ,Travis Hoium, Howard Smith, and Daniel Foelber think&nbsp;<b>General Motors</b>(NYSE:GM),<b>ChargePoint Holdings</b>(NYSE:CHPT), and&nbsp;<b>Lucid Group</b>(NASDAQ:LCID)&nbsp;are all better buys than Rivian today.</p><p><blockquote>我们的三位Fool.com撰稿人Travis Hoium、Howard Smith和Daniel Foelber认为<b>通用汽车</b>（纽约证券交易所代码：GM），<b>ChargePoint控股</b>（纽约证券交易所代码：CHPT），以及<b>Lucid集团</b>（纳斯达克：LCID）如今都比Rivian更划算。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38583e5ca55657c01e76a6eb4bab1782\" tg-width=\"2000\" tg-height=\"1331\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>The leader in autonomous driving</b></p><p><blockquote><b>自动驾驶的领头羊</b></blockquote></p><p> <b>Travis Hoium(General Motors):</b>As companies like Rivian get all the headlines in electric vehicles, General Motors is quietly building out the technology and manufacturing capacity totransition entirely to electric vehicles by 2035. That includes 30 EV models that will launch globally by 2025, including cars, trucks, and SUVs.</p><p><blockquote><b>特拉维斯·霍伊姆（通用汽车）：</b>随着Rivian等公司在电动汽车领域占据所有头条新闻，通用汽车正在悄悄地建设技术和制造能力，以便到2035年完全过渡到电动汽车。其中包括将于2025年在全球推出的30款电动汽车车型，包括轿车、卡车和SUV。</blockquote></p><p> But it isn't GM's EV capacity that makes it a better buy than Rivian, it's the company's majority ownership of Cruise, the autonomous ride-sharing company, that provides the most upside. GM is providing Cruise with design and manufacturing capabilities to build autonomous vehicles like the Cruise Origin (shown above), a self-driving shuttle for ride-sharing developed in a partnership between Cruise, GM, and&nbsp;<b>Honda</b>. Cruise is developing autonomous driving hardware and software that go into Origin and eventually a ride-sharing business. GM is also providing funding to build out Cruise's vehicle infrastructure, which could cost many billions of dollars, starting with a $5 billion line of credit to buy Cruise Origins.</p><p><blockquote>但并不是通用汽车的电动汽车产能使其比Rivian更值得购买，而是该公司对自动驾驶共享公司Cruise的多数股权提供了最大的上涨空间。通用汽车正在为Cruise提供设计和制造能力，以制造Cruise Origin（如上图所示）等自动驾驶汽车，这是一款由Cruise、通用汽车和<b>本田</b>.Cruise正在开发自动驾驶硬件和软件，这些硬件和软件将进入Origin并最终成为拼车业务。通用汽车还提供资金来建设Cruise的车辆基础设施，这可能耗资数十亿美元，首先是购买Cruise Origins的50亿美元信贷额度。</blockquote></p><p> In time, autonomous vehicles could reduce the cost of traveling in cities and even make vehicle ownership obsolete. Cruise is leading the way into this market, and that provides tremendous upside for GM. This may be an old company in the auto industry, but it's making great strategic moves to be a leader in the future of electric and autonomous vehicles.</p><p><blockquote>随着时间的推移，自动驾驶汽车可以降低城市出行成本，甚至使汽车所有权过时。Cruise正在引领这一市场，这为通用汽车提供了巨大的上升空间。这可能是一家汽车行业的老公司，但它正在采取重大战略举措，成为未来电动和自动驾驶汽车的领导者。</blockquote></p><p> <b>Picks and shovels</b></p><p><blockquote><b>镐和铲子</b></blockquote></p><p> <b>Howard Smith(ChargePoint Holdings)</b>:Rivian's public debut&nbsp;generated a lot of excitement for good reason. The company has big backers and reportedly a backlog of orders for both fleets and consumer electric vehicles (EVs). But investors have seen plenty of examples where initial excitement causes a spike in valuation that doesn't always last.</p><p><blockquote><b>霍华德·史密斯（ChargePoint Holdings）</b>：Rivian的首次公开亮相引起了很多兴奋，这是有充分理由的。该公司拥有大量支持者，据报道，车队和消费电动汽车(EV)都积压了订单。但投资者已经看到了很多例子，最初的兴奋会导致估值飙升，但这并不总是持续下去。</blockquote></p><p> Another exciting recent event for EV investors was the passage of a federal infrastructure bill that will push $7.5 billion to help build out the charging infrastructure needed for this country to expand EV ownership. ChargePoint Holdings is the leader in that space with more than 118,000 charging ports, including more than 3,700 DC fast chargers. The vast majority of those stations are in the U.S., though the company is also growing its business in Europe where it already has 5,400 charging locations.</p><p><blockquote>对于电动汽车投资者来说，最近另一个令人兴奋的事件是联邦基础设施法案的通过，该法案将斥资75亿美元帮助建设该国扩大电动汽车保有量所需的充电基础设施。ChargePoint Holdings是该领域的领导者，拥有超过118,000个充电端口，其中包括超过3,700个直流快速充电器。这些充电站绝大多数位于美国，尽管该公司也在欧洲发展业务，在那里已经拥有5400个充电站。</blockquote></p><p> Those federal infrastructure funds will be sent to states that will issue grants to the charging network companies, which will make up the country's network. And that should be a big shot in the arm for ChargePoint as the largest operator in the country. Even prior to the realization of that catalyst, ChargePoint was growing its business beyond what it had predicted before its public debut.</p><p><blockquote>这些联邦基础设施资金将被送往各州，各州将向充电网络公司发放补助金，这些公司将组成该国的网络。对于ChargePoint作为美国最大的运营商来说，这应该是一剂强心针。甚至在这一催化剂实现之前，ChargePoint的业务增长就超出了上市前的预期。</blockquote></p><p> The company recorded $146 million in revenue&nbsp;for its full fiscal year 2021 that ended Jan. 31, 2021. In its most recently reported quarter ended July 31, 2021, it raised its revenue guidance for its current fiscal year by 15% to a range of $225 million to $235 million. At the midpoint, that would represent annual revenue growth of 57.5%, even without the added catalyst of federal funds.</p><p><blockquote>该公司截至2021年1月31日的2021财年全年收入为1.46亿美元。在截至2021年7月31日的最新报告的季度中，该公司将本财年的收入指引上调了15%，至2.25亿美元至2.35亿美元。在中点，即使没有联邦基金的额外催化剂，这也意味着年收入增长57.5%。</blockquote></p><p> ChargePoint generated its own excitement when it announced it would begin trading publicly last year. The stock is almost 50% off the peak price reached at the end of Dec. 2020 prior to the closing of its merger with the&nbsp;special purpose acquisition company (SPAC)&nbsp;that brought it public. It wouldn't be surprising to see Rivian's stock fluctuate as well. But for Rivian -- and all the other EV makers -- to be successful, there will need to be charging infrastructure in place. That makes ChargePoint a \"picks and shovels\" type of investment for the rapidly growing EV sector. That could make it a better investment today than adding to Rivian's early hype.</p><p><blockquote>当ChargePoint去年宣布将开始公开交易时，它引起了自己的兴奋。该股较2020年12月底与上市的特殊目的收购公司(SPAC)合并完成之前达到的峰值价格低了近50%。看到Rivian的股价也出现波动也就不足为奇了。但Rivian和所有其他电动汽车制造商要想取得成功，就需要建立充电基础设施。这使得ChargePoint成为快速增长的电动汽车行业的“镐和铲子”类型的投资。这可能使其成为今天比Rivian早期炒作更好的投资。</blockquote></p><p> <b>Lucid is proving it can compete against the best in the business</b></p><p><blockquote><b>Lucid正在证明它可以与业内最好的公司竞争</b></blockquote></p><p></p><p> <b>Daniel Foelber(Lucid Group):</b>Rivian's roughly $120 billion market capitalization is raising eyebrows considering the company is relatively unproven. Similarly, Lucid Motors has received its fair share of criticism for sporting a $65 billion market cap just over a month into the&nbsp;mass production of its Lucid Air Dream Edition luxury sedan.</p><p><blockquote><b>丹尼尔·福尔伯（Lucid Group）：</b>考虑到Rivian相对未经证实，该公司约1200亿美元的市值令人惊讶。同样，Lucid Motors也因其Lucid Air Dream Edition豪华轿车量产仅一个多月就拥有650亿美元的市值而受到了相当多的批评。</blockquote></p><p> Rivian and Lucid are pricey, and it's hard to say which is the better value now. Rivian has received backing from&nbsp;<b>Amazon</b>&nbsp;and&nbsp;<b>Ford</b>&nbsp;as it targets the higher-end electric lifestyle truck and electric delivery van markets. Similar to&nbsp;<b>Tesla</b>(NASDAQ:TSLA), the company is bypassing the dealership framework of traditional automakers by&nbsp;marketing directly to consumers. Rivian also plans to build its own charging network to make electricity more accessible in remote places where a core part of its outdoor-focused target demographic requires the ability to charge. By comparison,Lucid doesn't feel the need to invest in its own charging network, choosing instead to save money by partnering with the growing list of third-party charging providers.</p><p><blockquote>Rivian和Lucid价格昂贵，现在很难说哪个更有价值。Rivian得到了来自<b>亚马逊</b>和<b>福特</b>因为它的目标是高端电动生活卡车和电动送货车市场。类似于<b>特斯拉</b>（纳斯达克：TSLA），该公司正在绕过传统汽车制造商的经销商框架，直接向消费者营销。Rivian还计划建立自己的充电网络，以使偏远地区更容易获得电力，这些地区以户外为重点的目标人群的核心部分需要充电能力。相比之下，Lucid认为没有必要投资自己的充电网络，而是选择通过与越来越多的第三方充电提供商合作来节省资金。</blockquote></p><p> Rivian has already faced delivery delays due to the global chip shortage. By comparison, Lucid has quickly built a&nbsp;reputation for delivering on its promises, having hit all of its major 2021 goals on time. Lucid also has an excellent management team and plenty of cash to fund its 2022 operations.</p><p><blockquote>由于全球芯片短缺，Rivian已经面临交付延迟。相比之下，Lucid因兑现承诺而迅速建立了声誉，按时实现了2021年的所有主要目标。Lucid还拥有优秀的管理团队和充足的现金来资助其2022年的运营。</blockquote></p><p> Arguably the best reason&nbsp;why there's never been a better time to buy Lucid stock&nbsp;is that the company has achieved incredible engineering feats that&nbsp;rival Tesla-- the undisputed champ in the EV industry. Packing in more battery cells can help improve performance, but Lucid isn't doing that. Instead, it has built a&nbsp;compact battery pack&nbsp;that sports a battery efficiency of 4.5 miles per kilowatt-hour (mi/kWh) of stored energy, which is higher than the Tesla Model S, Jaguar I-Pace, Porsche Taycan, and other competitors. Lucid management believes that battery efficiency is the key differentiating factor, not just higher horsepower and range. With the Lucid Air Dream Edition and Grand Touring, it has outdone the competition in both efficiency ratings and performance -- albeit for a high price tag.</p><p><blockquote>可以说，购买Lucid股票的最佳时机是该公司取得了令人难以置信的工程壮举，可与电动汽车行业无可争议的冠军特斯拉相媲美。装入更多电池有助于提高性能，但Lucid并没有这样做。相反，它制造了一个紧凑的电池组，电池效率为每千瓦时（mi/kWh）存储能量4.5英里，高于特斯拉Model S、捷豹I-Pace、保时捷Taycan和其他竞争对手。Lucid管理层认为，电池效率是关键的差异化因素，而不仅仅是更高的马力和续航里程。凭借Lucid Air Dream Edition和Grand Touring，它在效率评级和性能方面都超越了竞争对手，尽管价格较高。</blockquote></p><p> Rivian supporters would argue that not only does Rivian have a nice head start in the lifestyle EV pickup truck market, but it's also going to be a relatively insulated market because seasoned automakers like Ford and GM are only challenging the standard pickup truck market (for now). By comparison, Lucid plans to roll out lower prices trims of its sedan that would have to compete against expensive but much more \"affordable\" luxury sedan leaders. In doing so, it plans to lower the horsepower and range of its cars, which would bridge the gap between its advantages and the competition. However, what gives Lucid the edge over Rivian is that it has proven it can go toe-to-toe with the best in the business, hit its targets, and has plans to&nbsp;grow quickly in 2022 and beyond.</p><p><blockquote>Rivian的支持者会认为，Rivian不仅在生活方式电动皮卡市场有一个良好的开端，而且它也将是一个相对孤立的市场，因为福特和通用等经验丰富的汽车制造商只是在挑战标准皮卡市场（目前）。相比之下，Lucid计划推出价格较低的轿车，以与昂贵但更“实惠”的豪华轿车领导者竞争。通过这样做，它计划降低汽车的马力和续航里程，这将缩小其优势与竞争对手之间的差距。然而，Lucid相对于Rivian的优势在于，它已经证明自己可以与业内最优秀的公司正面交锋，实现目标，并计划在2022年及以后快速增长。</blockquote></p><p> Given that the growth trajectory is mapped out, Lucid has a clear path toward even greater success. However, investors should be aware that Lucid stock is likely to remain extremely volatile as the company works toward scaling production.</p><p><blockquote>鉴于增长轨迹已经规划好，Lucid有一条通往更大成功的清晰道路。然而，投资者应该意识到，随着Lucid公司努力扩大生产规模，该公司的股票可能会保持极度波动。</blockquote></p><p> <b>EVs are here to stay</b></p><p><blockquote><b>电动汽车将继续存在</b></blockquote></p><p> What we all agree on is that electric vehicles are here to stay. They're now competitive with fossil fuel vehicles in range, costs are coming down, and the innovative companies making EVs are enabling autonomy as well. The entire EV space has huge potential; we just think GM, ChargePoint, and Lucid are better buys than Rivian at today's price.</p><p><blockquote>我们都同意电动汽车将继续存在。它们现在在续航里程上与化石燃料汽车具有竞争力，成本正在下降，制造电动汽车的创新公司也在实现自动驾驶。整个电动汽车领域潜力巨大；我们只是认为，以今天的价格，通用汽车、ChargePoint和Lucid比Rivian更值得购买。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/11/13/rivian-soars-on-ipo-but-these-3-stocks/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CHPT":"ChargePoint Holdings Inc.","LCID":"Lucid Group Inc","GM":"通用汽车"},"source_url":"https://www.fool.com/investing/2021/11/13/rivian-soars-on-ipo-but-these-3-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175907621","content_text":"Rivian Automotive(NASDAQ:RIVN)has hit the market with a bang, trading more than 30% over its IPO price and now sporting a market cap near $100 billion. This is despite only producing about 15 vehicles per week right now. The company has a bright future, but investors looking for any value in electric vehicle stocks should probably look elsewhere right now.\nThree of our Fool.com contributors ,Travis Hoium, Howard Smith, and Daniel Foelber think General Motors(NYSE:GM),ChargePoint Holdings(NYSE:CHPT), and Lucid Group(NASDAQ:LCID) are all better buys than Rivian today.\nIMAGE SOURCE: GETTY IMAGES.\nThe leader in autonomous driving\nTravis Hoium(General Motors):As companies like Rivian get all the headlines in electric vehicles, General Motors is quietly building out the technology and manufacturing capacity totransition entirely to electric vehicles by 2035. That includes 30 EV models that will launch globally by 2025, including cars, trucks, and SUVs.\nBut it isn't GM's EV capacity that makes it a better buy than Rivian, it's the company's majority ownership of Cruise, the autonomous ride-sharing company, that provides the most upside. GM is providing Cruise with design and manufacturing capabilities to build autonomous vehicles like the Cruise Origin (shown above), a self-driving shuttle for ride-sharing developed in a partnership between Cruise, GM, and Honda. Cruise is developing autonomous driving hardware and software that go into Origin and eventually a ride-sharing business. GM is also providing funding to build out Cruise's vehicle infrastructure, which could cost many billions of dollars, starting with a $5 billion line of credit to buy Cruise Origins.\nIn time, autonomous vehicles could reduce the cost of traveling in cities and even make vehicle ownership obsolete. Cruise is leading the way into this market, and that provides tremendous upside for GM. This may be an old company in the auto industry, but it's making great strategic moves to be a leader in the future of electric and autonomous vehicles.\nPicks and shovels\nHoward Smith(ChargePoint Holdings):Rivian's public debut generated a lot of excitement for good reason. The company has big backers and reportedly a backlog of orders for both fleets and consumer electric vehicles (EVs). But investors have seen plenty of examples where initial excitement causes a spike in valuation that doesn't always last.\nAnother exciting recent event for EV investors was the passage of a federal infrastructure bill that will push $7.5 billion to help build out the charging infrastructure needed for this country to expand EV ownership. ChargePoint Holdings is the leader in that space with more than 118,000 charging ports, including more than 3,700 DC fast chargers. The vast majority of those stations are in the U.S., though the company is also growing its business in Europe where it already has 5,400 charging locations.\nThose federal infrastructure funds will be sent to states that will issue grants to the charging network companies, which will make up the country's network. And that should be a big shot in the arm for ChargePoint as the largest operator in the country. Even prior to the realization of that catalyst, ChargePoint was growing its business beyond what it had predicted before its public debut.\nThe company recorded $146 million in revenue for its full fiscal year 2021 that ended Jan. 31, 2021. In its most recently reported quarter ended July 31, 2021, it raised its revenue guidance for its current fiscal year by 15% to a range of $225 million to $235 million. At the midpoint, that would represent annual revenue growth of 57.5%, even without the added catalyst of federal funds.\nChargePoint generated its own excitement when it announced it would begin trading publicly last year. The stock is almost 50% off the peak price reached at the end of Dec. 2020 prior to the closing of its merger with the special purpose acquisition company (SPAC) that brought it public. It wouldn't be surprising to see Rivian's stock fluctuate as well. But for Rivian -- and all the other EV makers -- to be successful, there will need to be charging infrastructure in place. That makes ChargePoint a \"picks and shovels\" type of investment for the rapidly growing EV sector. That could make it a better investment today than adding to Rivian's early hype.\nLucid is proving it can compete against the best in the business\nDaniel Foelber(Lucid Group):Rivian's roughly $120 billion market capitalization is raising eyebrows considering the company is relatively unproven. Similarly, Lucid Motors has received its fair share of criticism for sporting a $65 billion market cap just over a month into the mass production of its Lucid Air Dream Edition luxury sedan.\nRivian and Lucid are pricey, and it's hard to say which is the better value now. Rivian has received backing from Amazon and Ford as it targets the higher-end electric lifestyle truck and electric delivery van markets. Similar to Tesla(NASDAQ:TSLA), the company is bypassing the dealership framework of traditional automakers by marketing directly to consumers. Rivian also plans to build its own charging network to make electricity more accessible in remote places where a core part of its outdoor-focused target demographic requires the ability to charge. By comparison,Lucid doesn't feel the need to invest in its own charging network, choosing instead to save money by partnering with the growing list of third-party charging providers.\nRivian has already faced delivery delays due to the global chip shortage. By comparison, Lucid has quickly built a reputation for delivering on its promises, having hit all of its major 2021 goals on time. Lucid also has an excellent management team and plenty of cash to fund its 2022 operations.\nArguably the best reason why there's never been a better time to buy Lucid stock is that the company has achieved incredible engineering feats that rival Tesla-- the undisputed champ in the EV industry. Packing in more battery cells can help improve performance, but Lucid isn't doing that. Instead, it has built a compact battery pack that sports a battery efficiency of 4.5 miles per kilowatt-hour (mi/kWh) of stored energy, which is higher than the Tesla Model S, Jaguar I-Pace, Porsche Taycan, and other competitors. Lucid management believes that battery efficiency is the key differentiating factor, not just higher horsepower and range. With the Lucid Air Dream Edition and Grand Touring, it has outdone the competition in both efficiency ratings and performance -- albeit for a high price tag.\nRivian supporters would argue that not only does Rivian have a nice head start in the lifestyle EV pickup truck market, but it's also going to be a relatively insulated market because seasoned automakers like Ford and GM are only challenging the standard pickup truck market (for now). By comparison, Lucid plans to roll out lower prices trims of its sedan that would have to compete against expensive but much more \"affordable\" luxury sedan leaders. In doing so, it plans to lower the horsepower and range of its cars, which would bridge the gap between its advantages and the competition. However, what gives Lucid the edge over Rivian is that it has proven it can go toe-to-toe with the best in the business, hit its targets, and has plans to grow quickly in 2022 and beyond.\nGiven that the growth trajectory is mapped out, Lucid has a clear path toward even greater success. However, investors should be aware that Lucid stock is likely to remain extremely volatile as the company works toward scaling production.\nEVs are here to stay\nWhat we all agree on is that electric vehicles are here to stay. They're now competitive with fossil fuel vehicles in range, costs are coming down, and the innovative companies making EVs are enabling autonomy as well. The entire EV space has huge potential; we just think GM, ChargePoint, and Lucid are better buys than Rivian at today's price.","news_type":1,"symbols_score_info":{"CHPT":0.9,"LCID":0.9,"GM":0.9}},"isVote":1,"tweetType":1,"viewCount":2095,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":847923715,"gmtCreate":1636473426921,"gmtModify":1636473427107,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/847923715","repostId":"1192599264","repostType":4,"isVote":1,"tweetType":1,"viewCount":2302,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":842582014,"gmtCreate":1636201823373,"gmtModify":1636201823603,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/842582014","repostId":"1173813098","repostType":4,"isVote":1,"tweetType":1,"viewCount":2782,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":840745725,"gmtCreate":1635695087053,"gmtModify":1635695087167,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/840745725","repostId":"1104228860","repostType":4,"isVote":1,"tweetType":1,"viewCount":2299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":858948814,"gmtCreate":1634969050391,"gmtModify":1634969050649,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/858948814","repostId":"1172683205","repostType":4,"isVote":1,"tweetType":1,"viewCount":3146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853231808,"gmtCreate":1634812002929,"gmtModify":1634812003185,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853231808","repostId":"1180611610","repostType":4,"repost":{"id":"1180611610","kind":"news","pubTimestamp":1634809573,"share":"https://www.laohu8.com/m/news/1180611610?lang=zh_CN&edition=full","pubTime":"2021-10-21 17:46","market":"us","language":"en","title":"WeWork Set to Go Public via SPAC Deal, Two Years After Failed IPO<blockquote>IPO失败两年后，WeWork将通过SPAC交易上市</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180611610","media":"Wall Street Journal","summary":"The shared-office company WeWork is set to trade publicly Thursday, capping a journey to a listing that included the implosion of its initial public offering in 2019.WeWork is going public through a combination with BowX Acquisition Corp., a special-purpose acquisition company.In 2019, WeWork’s IPO fell apart as the company faced questions about its corporate governance and how much it was worth. Now the entity that is making its debut on the New York Stock Exchange has undergone a refresh under","content":"<p>The shared-office company WeWork is set to trade publicly Thursday, capping a journey to a listing that included the implosion of its initial public offering in 2019.</p><p><blockquote>共享办公公司WeWork将于周四公开交易，为包括2019年首次公开募股在内的上市之旅画上句号。</blockquote></p><p> WeWork is going public through a combination with&nbsp;BowX Acquisition&nbsp;Corp., a special-purpose acquisition company.</p><p><blockquote>WeWork将通过与特殊目的收购公司BowX Acquisition Corp.合并上市。</blockquote></p><p> In 2019, WeWork’s IPO fell apart as the company faced questions about its corporate governance and how much it was worth. Now the entity that is making its debut on the New York Stock Exchange has undergone a refresh under Chief Executive Sandeep Mathrani. It has closed locations, renegotiated leases and cut thousands of jobs to reduce expenses during the Covid-19 pandemic.</p><p><blockquote>2019年，WeWork的IPO失败，因为该公司面临有关其公司治理和价值的质疑。现在，这家在纽约证券交易所首次亮相的实体在首席执行官桑迪普·马特拉尼(Sandeep Mathrani)的领导下进行了更新。在Covid-19大流行期间，该公司已关闭门店、重新谈判租约并裁员数千人，以减少开支。</blockquote></p><p> The deal with BowX Acquisition earlier this year gave WeWork a roughly $8 billion equity value. The combination provides WeWork with cash proceeds of about $1.3 billion, the companies said.</p><p><blockquote>今年早些时候与BowX Acquisition的交易为WeWork带来了约80亿美元的股权价值。两家公司表示，此次合并为WeWork提供了约13亿美元的现金收益。</blockquote></p><p> Shares will start trading Thursday under the name WeWork Inc. and the ticker symbol WE. On Wednesday, BowX Acquisition’s shares closed at $10.38, up 10.8%.</p><p><blockquote>股票将于周四开始交易，名称为WeWork Inc.，股票代码为WE。周三，BowX Acquisition股价收于10.38美元，上涨10.8%。</blockquote></p><p> Founded in 2010, WeWork is a player in the market for flexible office space. It signs long-term leases with landlords, and after renovating a space and furnishing it, the company subleases small offices or even whole buildings to tenants for as little as a month at a time.</p><p><blockquote>WeWork成立于2010年，是灵活办公空间市场的参与者。它与房东签订长期租约，在翻新和布置空间后，该公司将小型办公室甚至整栋建筑转租给租户，每次租期少则一个月。</blockquote></p><p> The company had a $47 billion valuation in the lead-up to its IPO, but its attempt to tap the public markets in 2019 failed when investors rejected the money-losing company. Its&nbsp;visionary yet erratic&nbsp;leader, Adam Neumann, subsequently&nbsp;resigned as chief executive, telling staff in an email at the time that “too much focus has been placed on me.”</p><p><blockquote>该公司在IPO前的估值为470亿美元，但由于投资者拒绝了这家亏损的公司，该公司在2019年进军公开市场的尝试失败了。其富有远见但反复无常的领导人亚当·诺伊曼(Adam Neumann)随后辞去了首席执行官一职，当时他在一封电子邮件中告诉员工，“人们对我的关注太多了。”</blockquote></p><p> SoftBank Group&nbsp;Corp., the Japanese technology investor that has poured money into WeWork, rescued the company after the failed IPO endeavor. It continues&nbsp;to hold a majority stake&nbsp;in WeWork after the SPAC deal. Mr. Neumann will have voting power of about 11% after the business combination, according to a securities filing.</p><p><blockquote>向WeWork注资的日本科技投资者软银集团（SoftBank Group Corp.）在IPO失败后拯救了该公司。SPAC交易完成后，它继续持有WeWork的多数股权。根据一份证券备案文件，业务合并后，诺伊曼先生将拥有约11%的投票权。</blockquote></p><p> In 2019, WeWork said that its mission was to “elevate the world’s consciousness” and that it could reduce costs by 66% compared with a standard lease. In its latest attempt to enter the public markets, WeWork released a slideshow for investors that included case studies of how companies could shave real-estate costs by around 25% per employee by switching to WeWork.</p><p><blockquote>2019年，WeWork表示其使命是“提升世界意识”，与标准租赁相比，它可以降低66%的成本。在进入公开市场的最新尝试中，WeWork为投资者发布了一张幻灯片，其中包括公司如何通过转向WeWork将每位员工的房地产成本削减约25%的案例研究。</blockquote></p><p> Ahead of the public-market debut, Mr. Mathrani marketed the company’s offering as so-called space as a service. “As companies around the world re-imagine their workplace, WeWork is uniquely positioned to offer the space and services that can power solutions built around flexibility,” he said Wednesday.</p><p><blockquote>在公开市场首次亮相之前，Mathrani先生将该公司的产品宣传为所谓的空间即服务。他周三表示：“随着世界各地的公司重新想象他们的工作场所，WeWork在提供空间和服务方面处于独特的地位，可以为围绕灵活性构建的解决方案提供动力。”</blockquote></p><p> The Covid-19 pandemic struck just as WeWork was trying to rebound from its troubles in late 2019, posing a challenge for a company whose shared offices had workers in proximity. The company in August posted a net loss attributable to the company of $888.8 million for the three months ended June 30, compared with a loss of $863.8 million a year earlier.</p><p><blockquote>就在WeWork试图从2019年底的困境中恢复过来时，Covid-19大流行爆发了，这对一家共享办公室附近有员工的公司构成了挑战。该公司8月份公布，截至6月30日的三个月，归属于该公司的净亏损为8.888亿美元，而去年同期为亏损8.638亿美元。</blockquote></p><p> In a securities filing, WeWork said its occupancy rate fell to 55% as of June 1 from 58% the same time last year because of a decline in demand primarily driven by the effects of Covid-19.</p><p><blockquote>WeWork在一份证券备案文件中表示，截至6月1日，其入住率从去年同期的58%降至55%，原因是主要受Covid-19影响导致需求下降。</blockquote></p><p> Mr. Mathrani and Executive Chairman Marcelo Claure, who is also the chief operating officer of SoftBank Group, will continue to be at the helm of WeWork as it goes public, the company said Wednesday.</p><p><blockquote>该公司周三表示，Mathrani先生和执行董事长兼软银集团首席运营官Marcelo Claure将在WeWork上市后继续执掌该公司。</blockquote></p><p> SPACs, also known as blank-check companies because they raise money with the purpose of seeking a target to merge with and take public, have risen in popularity as companies seek alternatives to a traditional IPO. Such ventures typically have two years to find a target. Share prices for listed SPACs have retreated this year, leaving many blank-check companies trading below their debut prices.</p><p><blockquote>SPAC也被称为空白支票公司，因为它们筹集资金的目的是寻求合并和上市的目标，随着公司寻求传统IPO的替代方案，SPAC越来越受欢迎。此类企业通常有两年时间来寻找目标。今年，上市SPAC的股价已经回落，许多空白支票公司的交易价格低于其首次上市价格。</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>WeWork Set to Go Public via SPAC Deal, Two Years After Failed IPO<blockquote>IPO失败两年后，WeWork将通过SPAC交易上市</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWeWork Set to Go Public via SPAC Deal, Two Years After Failed IPO<blockquote>IPO失败两年后，WeWork将通过SPAC交易上市</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Wall Street Journal</strong><span class=\"h-time small\">2021-10-21 17:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The shared-office company WeWork is set to trade publicly Thursday, capping a journey to a listing that included the implosion of its initial public offering in 2019.</p><p><blockquote>共享办公公司WeWork将于周四公开交易，为包括2019年首次公开募股在内的上市之旅画上句号。</blockquote></p><p> WeWork is going public through a combination with&nbsp;BowX Acquisition&nbsp;Corp., a special-purpose acquisition company.</p><p><blockquote>WeWork将通过与特殊目的收购公司BowX Acquisition Corp.合并上市。</blockquote></p><p> In 2019, WeWork’s IPO fell apart as the company faced questions about its corporate governance and how much it was worth. Now the entity that is making its debut on the New York Stock Exchange has undergone a refresh under Chief Executive Sandeep Mathrani. It has closed locations, renegotiated leases and cut thousands of jobs to reduce expenses during the Covid-19 pandemic.</p><p><blockquote>2019年，WeWork的IPO失败，因为该公司面临有关其公司治理和价值的质疑。现在，这家在纽约证券交易所首次亮相的实体在首席执行官桑迪普·马特拉尼(Sandeep Mathrani)的领导下进行了更新。在Covid-19大流行期间，该公司已关闭门店、重新谈判租约并裁员数千人，以减少开支。</blockquote></p><p> The deal with BowX Acquisition earlier this year gave WeWork a roughly $8 billion equity value. The combination provides WeWork with cash proceeds of about $1.3 billion, the companies said.</p><p><blockquote>今年早些时候与BowX Acquisition的交易为WeWork带来了约80亿美元的股权价值。两家公司表示，此次合并为WeWork提供了约13亿美元的现金收益。</blockquote></p><p> Shares will start trading Thursday under the name WeWork Inc. and the ticker symbol WE. On Wednesday, BowX Acquisition’s shares closed at $10.38, up 10.8%.</p><p><blockquote>股票将于周四开始交易，名称为WeWork Inc.，股票代码为WE。周三，BowX Acquisition股价收于10.38美元，上涨10.8%。</blockquote></p><p> Founded in 2010, WeWork is a player in the market for flexible office space. It signs long-term leases with landlords, and after renovating a space and furnishing it, the company subleases small offices or even whole buildings to tenants for as little as a month at a time.</p><p><blockquote>WeWork成立于2010年，是灵活办公空间市场的参与者。它与房东签订长期租约，在翻新和布置空间后，该公司将小型办公室甚至整栋建筑转租给租户，每次租期少则一个月。</blockquote></p><p> The company had a $47 billion valuation in the lead-up to its IPO, but its attempt to tap the public markets in 2019 failed when investors rejected the money-losing company. Its&nbsp;visionary yet erratic&nbsp;leader, Adam Neumann, subsequently&nbsp;resigned as chief executive, telling staff in an email at the time that “too much focus has been placed on me.”</p><p><blockquote>该公司在IPO前的估值为470亿美元，但由于投资者拒绝了这家亏损的公司，该公司在2019年进军公开市场的尝试失败了。其富有远见但反复无常的领导人亚当·诺伊曼(Adam Neumann)随后辞去了首席执行官一职，当时他在一封电子邮件中告诉员工，“人们对我的关注太多了。”</blockquote></p><p> SoftBank Group&nbsp;Corp., the Japanese technology investor that has poured money into WeWork, rescued the company after the failed IPO endeavor. It continues&nbsp;to hold a majority stake&nbsp;in WeWork after the SPAC deal. Mr. Neumann will have voting power of about 11% after the business combination, according to a securities filing.</p><p><blockquote>向WeWork注资的日本科技投资者软银集团（SoftBank Group Corp.）在IPO失败后拯救了该公司。SPAC交易完成后，它继续持有WeWork的多数股权。根据一份证券备案文件，业务合并后，诺伊曼先生将拥有约11%的投票权。</blockquote></p><p> In 2019, WeWork said that its mission was to “elevate the world’s consciousness” and that it could reduce costs by 66% compared with a standard lease. In its latest attempt to enter the public markets, WeWork released a slideshow for investors that included case studies of how companies could shave real-estate costs by around 25% per employee by switching to WeWork.</p><p><blockquote>2019年，WeWork表示其使命是“提升世界意识”，与标准租赁相比，它可以降低66%的成本。在进入公开市场的最新尝试中，WeWork为投资者发布了一张幻灯片，其中包括公司如何通过转向WeWork将每位员工的房地产成本削减约25%的案例研究。</blockquote></p><p> Ahead of the public-market debut, Mr. Mathrani marketed the company’s offering as so-called space as a service. “As companies around the world re-imagine their workplace, WeWork is uniquely positioned to offer the space and services that can power solutions built around flexibility,” he said Wednesday.</p><p><blockquote>在公开市场首次亮相之前，Mathrani先生将该公司的产品宣传为所谓的空间即服务。他周三表示：“随着世界各地的公司重新想象他们的工作场所，WeWork在提供空间和服务方面处于独特的地位，可以为围绕灵活性构建的解决方案提供动力。”</blockquote></p><p> The Covid-19 pandemic struck just as WeWork was trying to rebound from its troubles in late 2019, posing a challenge for a company whose shared offices had workers in proximity. The company in August posted a net loss attributable to the company of $888.8 million for the three months ended June 30, compared with a loss of $863.8 million a year earlier.</p><p><blockquote>就在WeWork试图从2019年底的困境中恢复过来时，Covid-19大流行爆发了，这对一家共享办公室附近有员工的公司构成了挑战。该公司8月份公布，截至6月30日的三个月，归属于该公司的净亏损为8.888亿美元，而去年同期为亏损8.638亿美元。</blockquote></p><p> In a securities filing, WeWork said its occupancy rate fell to 55% as of June 1 from 58% the same time last year because of a decline in demand primarily driven by the effects of Covid-19.</p><p><blockquote>WeWork在一份证券备案文件中表示，截至6月1日，其入住率从去年同期的58%降至55%，原因是主要受Covid-19影响导致需求下降。</blockquote></p><p> Mr. Mathrani and Executive Chairman Marcelo Claure, who is also the chief operating officer of SoftBank Group, will continue to be at the helm of WeWork as it goes public, the company said Wednesday.</p><p><blockquote>该公司周三表示，Mathrani先生和执行董事长兼软银集团首席运营官Marcelo Claure将在WeWork上市后继续执掌该公司。</blockquote></p><p> SPACs, also known as blank-check companies because they raise money with the purpose of seeking a target to merge with and take public, have risen in popularity as companies seek alternatives to a traditional IPO. Such ventures typically have two years to find a target. Share prices for listed SPACs have retreated this year, leaving many blank-check companies trading below their debut prices.</p><p><blockquote>SPAC也被称为空白支票公司，因为它们筹集资金的目的是寻求合并和上市的目标，随着公司寻求传统IPO的替代方案，SPAC越来越受欢迎。此类企业通常有两年时间来寻找目标。今年，上市SPAC的股价已经回落，许多空白支票公司的交易价格低于其首次上市价格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/wework-set-to-go-public-via-spac-deal-two-years-after-failed-ipo-11634808600?siteid=yhoof2\">Wall Street Journal</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":{"BOWXU":"BowX Acquisition"},"source_url":"https://www.wsj.com/articles/wework-set-to-go-public-via-spac-deal-two-years-after-failed-ipo-11634808600?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180611610","content_text":"The shared-office company WeWork is set to trade publicly Thursday, capping a journey to a listing that included the implosion of its initial public offering in 2019.\nWeWork is going public through a combination with BowX Acquisition Corp., a special-purpose acquisition company.\nIn 2019, WeWork’s IPO fell apart as the company faced questions about its corporate governance and how much it was worth. Now the entity that is making its debut on the New York Stock Exchange has undergone a refresh under Chief Executive Sandeep Mathrani. It has closed locations, renegotiated leases and cut thousands of jobs to reduce expenses during the Covid-19 pandemic.\nThe deal with BowX Acquisition earlier this year gave WeWork a roughly $8 billion equity value. The combination provides WeWork with cash proceeds of about $1.3 billion, the companies said.\nShares will start trading Thursday under the name WeWork Inc. and the ticker symbol WE. On Wednesday, BowX Acquisition’s shares closed at $10.38, up 10.8%.\nFounded in 2010, WeWork is a player in the market for flexible office space. It signs long-term leases with landlords, and after renovating a space and furnishing it, the company subleases small offices or even whole buildings to tenants for as little as a month at a time.\nThe company had a $47 billion valuation in the lead-up to its IPO, but its attempt to tap the public markets in 2019 failed when investors rejected the money-losing company. Its visionary yet erratic leader, Adam Neumann, subsequently resigned as chief executive, telling staff in an email at the time that “too much focus has been placed on me.”\nSoftBank Group Corp., the Japanese technology investor that has poured money into WeWork, rescued the company after the failed IPO endeavor. It continues to hold a majority stake in WeWork after the SPAC deal. Mr. Neumann will have voting power of about 11% after the business combination, according to a securities filing.\nIn 2019, WeWork said that its mission was to “elevate the world’s consciousness” and that it could reduce costs by 66% compared with a standard lease. In its latest attempt to enter the public markets, WeWork released a slideshow for investors that included case studies of how companies could shave real-estate costs by around 25% per employee by switching to WeWork.\nAhead of the public-market debut, Mr. Mathrani marketed the company’s offering as so-called space as a service. “As companies around the world re-imagine their workplace, WeWork is uniquely positioned to offer the space and services that can power solutions built around flexibility,” he said Wednesday.\nThe Covid-19 pandemic struck just as WeWork was trying to rebound from its troubles in late 2019, posing a challenge for a company whose shared offices had workers in proximity. The company in August posted a net loss attributable to the company of $888.8 million for the three months ended June 30, compared with a loss of $863.8 million a year earlier.\nIn a securities filing, WeWork said its occupancy rate fell to 55% as of June 1 from 58% the same time last year because of a decline in demand primarily driven by the effects of Covid-19.\nMr. Mathrani and Executive Chairman Marcelo Claure, who is also the chief operating officer of SoftBank Group, will continue to be at the helm of WeWork as it goes public, the company said Wednesday.\nSPACs, also known as blank-check companies because they raise money with the purpose of seeking a target to merge with and take public, have risen in popularity as companies seek alternatives to a traditional IPO. Such ventures typically have two years to find a target. Share prices for listed SPACs have retreated this year, leaving many blank-check companies trading below their debut prices.","news_type":1,"symbols_score_info":{"BOWXU":0.9}},"isVote":1,"tweetType":1,"viewCount":3214,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":850855278,"gmtCreate":1634574888914,"gmtModify":1634574892783,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/850855278","repostId":"1134742278","repostType":4,"repost":{"id":"1134742278","kind":"news","pubTimestamp":1634570746,"share":"https://www.laohu8.com/m/news/1134742278?lang=zh_CN&edition=full","pubTime":"2021-10-18 23:25","market":"us","language":"en","title":"Apple expected to unveil new Macs with more powerful chips<blockquote>苹果预计将推出配备更强大芯片的新款Mac</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1134742278","media":"Reuters","summary":"Analysts expect Apple Inc(AAPL.O)to unveil new Mac laptop computers with more powerful processor chi","content":"<p>Analysts expect Apple Inc(AAPL.O)to unveil new Mac laptop computers with more powerful processor chips at an event that will be streamed later Monday.</p><p><blockquote>分析师预计，苹果(AAPL.O)将在周一晚些时候直播的活动中推出配备更强大处理器芯片的新款Mac笔记本电脑。</blockquote></p><p> Bloomberg has previously reported that Apple plans to release two new MacBook Pro models with 14-inch and 16-inch screens. The Cupertino, California-based company introduced some new laptop models last year that for the first time used its \"Apple Silicon\" chips, which it said would be phased into the company's desktop and laptop lineup over the course of two years.</p><p><blockquote>彭博社此前曾报道，苹果计划发布14英寸和16英寸屏幕的两款MacBook Pro新机。这家总部位于加州库比蒂诺的公司去年推出了一些新的笔记本电脑型号，首次使用了其“苹果硅”芯片，该公司表示将在两年内逐步进入该公司的台式机和笔记本电脑产品线。</blockquote></p><p> Before Monday, Apple's most powerful laptops still relied on chips from Intel Corp(INTC.O). The company has already placed a first generation in-house-designed M1 chip into some MacBooks as well as its Mac Mini and iMac desktop machines, but the new larger MacBook Pro models are expected to feature a second, more powerful generation of the company's chip.</p><p><blockquote>周一之前，苹果最强大的笔记本电脑仍依赖英特尔公司(INTC.O)的芯片。该公司已经在一些MacBook以及Mac Mini和iMac台式机中安装了第一代内部设计的M1芯片，但新的更大的MacBook Pro型号预计将采用该公司更强大的第二代芯片。</blockquote></p><p> The new chip, along with a general rise in laptop sales as employees and students stocked up on tech hardware to work and learn from home, prompted a boom in Mac sales during the pandemic. Revenue rose 11% to $28.6 billion in Apple's fiscal 2020, even as iPhone revenue declined 3%.</p><p><blockquote>随着员工和学生储备技术硬件在家工作和学习，新芯片以及笔记本电脑销量的普遍增长，推动了疫情期间Mac销量的繁荣。苹果2020财年的收入增长了11%，达到286亿美元，尽管iPhone收入下降了3%。</blockquote></p><p> The expected MacBook Pro introduction comes weeks after Apple overhauled its&nbsp;iPhone, Apple Watch and iPad lineup.</p><p><blockquote>预计MacBook Pro的推出是在苹果彻底改革其iPhone、苹果手表和iPad产品线几周后进行的。</blockquote></p><p> Some analysts believe Apple on Monday will also update its AirPods wireless ear buds, though rumors of an update have circulated ahead of other Apple events this year without coming to pass. Add-on devices like AirPods tend to be large sellers during holiday shopping seasons and have become one of Apple's fastest-growing categories, with its home and accessories segment growing 25% to $30.6 billion in Apple's fiscal 2020.</p><p><blockquote>一些分析师认为，苹果周一也将更新其AirPods无线耳塞，尽管在今年其他苹果活动之前就有更新的传言，但没有成为现实。AirPods等附加设备往往在假日购物季大卖，并已成为苹果增长最快的类别之一，其家居和配件部门在苹果2020财年增长了25%，达到306亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple expected to unveil new Macs with more powerful chips<blockquote>苹果预计将推出配备更强大芯片的新款Mac</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple expected to unveil new Macs with more powerful chips<blockquote>苹果预计将推出配备更强大芯片的新款Mac</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-10-18 23:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Analysts expect Apple Inc(AAPL.O)to unveil new Mac laptop computers with more powerful processor chips at an event that will be streamed later Monday.</p><p><blockquote>分析师预计，苹果(AAPL.O)将在周一晚些时候直播的活动中推出配备更强大处理器芯片的新款Mac笔记本电脑。</blockquote></p><p> Bloomberg has previously reported that Apple plans to release two new MacBook Pro models with 14-inch and 16-inch screens. The Cupertino, California-based company introduced some new laptop models last year that for the first time used its \"Apple Silicon\" chips, which it said would be phased into the company's desktop and laptop lineup over the course of two years.</p><p><blockquote>彭博社此前曾报道，苹果计划发布14英寸和16英寸屏幕的两款MacBook Pro新机。这家总部位于加州库比蒂诺的公司去年推出了一些新的笔记本电脑型号，首次使用了其“苹果硅”芯片，该公司表示将在两年内逐步进入该公司的台式机和笔记本电脑产品线。</blockquote></p><p> Before Monday, Apple's most powerful laptops still relied on chips from Intel Corp(INTC.O). The company has already placed a first generation in-house-designed M1 chip into some MacBooks as well as its Mac Mini and iMac desktop machines, but the new larger MacBook Pro models are expected to feature a second, more powerful generation of the company's chip.</p><p><blockquote>周一之前，苹果最强大的笔记本电脑仍依赖英特尔公司(INTC.O)的芯片。该公司已经在一些MacBook以及Mac Mini和iMac台式机中安装了第一代内部设计的M1芯片，但新的更大的MacBook Pro型号预计将采用该公司更强大的第二代芯片。</blockquote></p><p> The new chip, along with a general rise in laptop sales as employees and students stocked up on tech hardware to work and learn from home, prompted a boom in Mac sales during the pandemic. Revenue rose 11% to $28.6 billion in Apple's fiscal 2020, even as iPhone revenue declined 3%.</p><p><blockquote>随着员工和学生储备技术硬件在家工作和学习，新芯片以及笔记本电脑销量的普遍增长，推动了疫情期间Mac销量的繁荣。苹果2020财年的收入增长了11%，达到286亿美元，尽管iPhone收入下降了3%。</blockquote></p><p> The expected MacBook Pro introduction comes weeks after Apple overhauled its&nbsp;iPhone, Apple Watch and iPad lineup.</p><p><blockquote>预计MacBook Pro的推出是在苹果彻底改革其iPhone、苹果手表和iPad产品线几周后进行的。</blockquote></p><p> Some analysts believe Apple on Monday will also update its AirPods wireless ear buds, though rumors of an update have circulated ahead of other Apple events this year without coming to pass. Add-on devices like AirPods tend to be large sellers during holiday shopping seasons and have become one of Apple's fastest-growing categories, with its home and accessories segment growing 25% to $30.6 billion in Apple's fiscal 2020.</p><p><blockquote>一些分析师认为，苹果周一也将更新其AirPods无线耳塞，尽管在今年其他苹果活动之前就有更新的传言，但没有成为现实。AirPods等附加设备往往在假日购物季大卖，并已成为苹果增长最快的类别之一，其家居和配件部门在苹果2020财年增长了25%，达到306亿美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/technology/apple-expected-unveil-new-macs-with-more-powerful-chips-2021-10-18/\">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":{"AAPL":"苹果"},"source_url":"https://www.reuters.com/technology/apple-expected-unveil-new-macs-with-more-powerful-chips-2021-10-18/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134742278","content_text":"Analysts expect Apple Inc(AAPL.O)to unveil new Mac laptop computers with more powerful processor chips at an event that will be streamed later Monday.\nBloomberg has previously reported that Apple plans to release two new MacBook Pro models with 14-inch and 16-inch screens. The Cupertino, California-based company introduced some new laptop models last year that for the first time used its \"Apple Silicon\" chips, which it said would be phased into the company's desktop and laptop lineup over the course of two years.\nBefore Monday, Apple's most powerful laptops still relied on chips from Intel Corp(INTC.O). The company has already placed a first generation in-house-designed M1 chip into some MacBooks as well as its Mac Mini and iMac desktop machines, but the new larger MacBook Pro models are expected to feature a second, more powerful generation of the company's chip.\nThe new chip, along with a general rise in laptop sales as employees and students stocked up on tech hardware to work and learn from home, prompted a boom in Mac sales during the pandemic. Revenue rose 11% to $28.6 billion in Apple's fiscal 2020, even as iPhone revenue declined 3%.\nThe expected MacBook Pro introduction comes weeks after Apple overhauled its iPhone, Apple Watch and iPad lineup.\nSome analysts believe Apple on Monday will also update its AirPods wireless ear buds, though rumors of an update have circulated ahead of other Apple events this year without coming to pass. Add-on devices like AirPods tend to be large sellers during holiday shopping seasons and have become one of Apple's fastest-growing categories, with its home and accessories segment growing 25% to $30.6 billion in Apple's fiscal 2020.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2435,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":824200370,"gmtCreate":1634311576377,"gmtModify":1634311576560,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/824200370","repostId":"2175117376","repostType":4,"isVote":1,"tweetType":1,"viewCount":2323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825204919,"gmtCreate":1634225173879,"gmtModify":1634225173946,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/825204919","repostId":"1109078113","repostType":4,"isVote":1,"tweetType":1,"viewCount":840,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":828183924,"gmtCreate":1633865187666,"gmtModify":1633865187781,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/828183924","repostId":"2174920514","repostType":4,"isVote":1,"tweetType":1,"viewCount":865,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821958511,"gmtCreate":1633690912994,"gmtModify":1633690913228,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/821958511","repostId":"1135993400","repostType":4,"repost":{"id":"1135993400","kind":"news","pubTimestamp":1633675137,"share":"https://www.laohu8.com/m/news/1135993400?lang=zh_CN&edition=full","pubTime":"2021-10-08 14:38","market":"us","language":"en","title":"September Payrolls Preview: It Will Be A Beat, The Question Is How Big<blockquote>9月就业预览：这将是一个节拍，问题是有多大</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135993400","media":"zerohedge","summary":"After a strong initial claims report and a solid ADP private payrolls print, all eyes turn to the mo","content":"<p>After a strong initial claims report and a solid ADP private payrolls print, all eyes turn to the most important economic data point of the week, and the month, Friday's nonfarm payrolls report due at 830am ET on Friday, where consensus expects a 500K print- more than double last month's disappointing 235K print - as well as a drop in the unemployment rate to 5.1% and an increase in average hourly earnings to 4.6%. And unlike last month, when wecorrectly predicted the big miss in August payrolls, this time we agree that tomorrow's report will be a beat, the only question is how big.</p><p><blockquote>在强劲的首次申请失业救济报告和稳健的ADP私人就业数据之后，所有人的目光都转向了本周和本月最重要的经济数据点，即美国东部时间周五上午830点发布的周五非农就业报告，市场普遍预计非农就业报告将达到50万份——是上个月令人失望的23.5万份的两倍多——失业率降至5.1%，平均时薪增加至4.6%。与上个月不同的是，当我们正确预测8月份就业人数将大幅下降时，这次我们同意明天的报告将是一个节拍，唯一的问题是幅度有多大。</blockquote></p><p> Here is a snapshot of what to expect tomorrow:</p><p><blockquote>以下是明天的快照：</blockquote></p><p> <ul>  <li>Total Payrolls: 500K, Last 235K</li>  <li>Private Payrolls: 450K, Last 243K</li>  <li>Unemployment Rate: 5.1%, Last 5.2%</li>  <li>Labor force participation rate: 61.8%, Last 61.7%</li>  <li>Average Hourly Earnings Y/Y: 4.6%, Last 4.3%</li>  <li>Average Weekly Hours: 34.7, Last 34.7</li> </ul> As&nbsp;Newsquawk&nbsp;writes in its NFP preview, September’s jobs data, the last before the Fed’s November 3rd policy meeting, will be framed in the context of the central bank’s expected taper announcement, where a merely satisfactory report would likely to be enough for the FOMC to greenlight a November announcement to scale-back its USD 120BN/month asset purchases.</p><p><blockquote><ul><li>总就业人数：50万，最后23.5万</li><li>私人就业人数：45万，最新24.3万</li><li>失业率：5.1%，去年5.2%</li><li>劳动参与率：61.8%，上次61.7%</li><li>平均时薪同比：4.6%，过去4.3%</li><li>平均每周工作时间：34.7，最后34.7</li></ul>正如Newsquawk在其NFP预览中所写，9月份的就业数据是美联储11月3日政策会议之前的最后一份数据，将在美联储预期宣布缩减规模的背景下进行，在这种背景下，一份令人满意的报告可能足以让FOMC批准11月份宣布缩减每月1200亿美元的资产购买规模。</blockquote></p><p> Goldman economists are more bullish than normal, and estimate nonfarm payrolls rose 600k in September, above consensus of +500k, and they note that \"labor demand remains very strong,&nbsp;<b>and we believe the nationwide expiration of enhanced unemployment beneﬁts on September 5 boosted effective labor supply and job growth—as it did in July and August in states that ended federal beneﬁts early.\"</b>As a result, Goldman is assuming a 200k boost in tomorrow’s numbers and a larger boost in October. The bank also believes the reopening of schools contributed to September job growth, by around 150k. Despite these tailwinds, Big Data employment signals were mixed, and dining activity rebounded only marginally.</p><p><blockquote>高盛经济学家比正常情况更加乐观，预计9月份非农就业人数增加60万，高于市场普遍预期的+50万，他们指出“劳动力需求仍然非常强劲，<b>我们相信，9月5日全国范围内强化失业救济金到期，提振了有效劳动力供应和就业增长——就像7月和8月提前结束联邦救济金的州所做的那样。”</b>因此，高盛预计明天的人数将增加20万，10月份的增幅更大。该银行还认为，学校的重新开放促进了9月份就业增长约15万人。尽管有这些有利因素，但大数据就业信号好坏参半，餐饮活动仅小幅反弹。</blockquote></p><p> Labor market proxies have been constructive for the month: ADP’s gauge of payrolls surprised to the upside, although analysts continue to note that the direct relationship between the official data and the ADP’s gauge is tenuous, despite the gap being under 100k over the last three reports. The number of initial jobless claims and continuing claims has eased back between the survey periods of the August and September jobs data, although analysts note that more recent releases have shown an uptick in claims potentially clouding the outlook. The ISM business surveys have signaled employment growth in the month, with manufacturing employment rising into growth territory again, but services sector hiring cooled a little in the month, but remains expansionary; survey commentary continues to allude to a tight labour market. The Bureau of Labor Statistics will release the September employment situation report at 13:30BST/08:30EDT on October 8th.</p><p><blockquote>本月劳动力市场指标一直具有建设性：ADP的就业数据出人意料地上升，尽管分析师继续指出，官方数据与ADP数据之间的直接关系很脆弱，尽管过去三份报告的差距低于10万。在8月和9月就业数据调查期间，首次申请失业救济人数和持续申请失业救济人数有所回落，尽管分析师指出，最近发布的数据显示申请失业救济人数上升可能会给前景蒙上阴影。ISM商业调查显示本月就业增长，制造业就业再次升至增长区域，但服务业招聘本月略有降温，但仍保持扩张；调查评论继续暗示劳动力市场紧张。美国劳工统计局将于10月8日13:30 BST/08：30EDT发布9月就业形势报告。</blockquote></p><p> <b>POLICY</b>: The September jobs report might have reduced relevance on trading conditions given that Fed officials have effectively confirmed that, barring a collapse in the jobs data, it is on course to announce a tapering of its asset purchases at the November 3rd meeting. Accordingly, trading risks may be skewed to the downside, rather than to the upside, where a significant payrolls miss may present obstacles to the Fed announcing its taper. Additionally, it is worth being cognizant of how efforts in Washington to raise the debt ceiling are progressing; as yet, officials have not struck a deal, and are in the process of enacting stop gap legislation to allow funding into December; some analysts suggest that the Fed may be reticent to tighten policy in the face of potential default risks.</p><p><blockquote><b>政策</b>：鉴于美联储官员实际上已经确认，除非就业数据崩溃，否则美联储将在11月3日的会议上宣布缩减资产购买规模，9月份就业报告可能会降低对交易状况的相关性。因此，交易风险可能偏向下行，而不是上行，就业人数大幅下降可能会给美联储宣布缩减规模带来障碍。此外，值得认识到华盛顿提高债务上限的努力进展如何；到目前为止，官员们尚未达成协议，正在制定权宜之计立法，以允许资金进入12月；一些分析师暗示，面对潜在的违约风险，美联储可能不愿收紧政策。</blockquote></p><p> <b>PAYROLLS:</b>The consensus looks for 500k nonfarm payrolls to be added to the US economy in September (prev. 235k), which would be a cooler rate of growth than the three- and six-month average rate, though in line with the 12-month average (3-month average is 750k/month, the six-month average is 653k/month, and the 12-month average is 503k/month – that technically at least suggests an improving rate of payrolls growth in recent months).<b>Aggregating the nonfarm payrolls data since March 2020, around 5.33mln Americans remain out of work relative to pre-pandemic levels.</b></p><p><blockquote><b>工资单：</b>市场普遍预计9月份美国经济将增加50万非农就业人数（上一篇。23.5万），这将低于三个月和六个月的平均增长率，尽管与12个月的平均增长率一致（3个月的平均增长率为75万/月，6个月的平均增长率为65.3万/月，12个月的平均增长率为50.3万/月——这至少在技术上表明最近几个月的就业增长率有所改善）。<b>汇总2020年3月以来的非农就业数据，相对于大流行前的水平，约有533万美国人仍处于失业状态。</b></blockquote></p><p></p><p> <b>MEASURES OF SLACK:</b>The Unemployment Rate is expected at 5.1% (prev. 5.2%); Labour Force Participation previously at 61.7% vs 63.2% pre-pandemic; U6 measure of underemployment was previously at 8.8% vs 7.0% prepandemic; Employment-population ratio was previously 58.5% vs 61.1% pre-pandemic. These measures of slack are likely to provide more insight into how Fed officials are judging labour market progress, with many in recent months noting that they are closely watching the Underemployment Rate, Participation Rate, and the Employment-Population Ratio for a better handle on the level of slack that remains in the economy. Analysts would be encouraged the closer these get to pre-pandemic levels.</p><p><blockquote><b>松弛措施：</b>失业率预计为5.1%（此前为5.2%）；劳动力参与率此前为61.7%，而疫情前为63.2%；U6衡量就业不足的指标此前为8.8%，而疫情前为7.0%；就业与人口比率之前为58.5%，而疫情之前为61.1%。这些宽松指标可能会让人们更深入地了解美联储官员如何判断劳动力市场的进展，许多人最近几个月指出，他们正在密切关注就业不足率、参与率和就业人口比率，以便更好地应对经济中仍然存在的宽松程度。这些数据越接近大流行前的水平，分析师就会受到鼓舞。</blockquote></p><p> <b>EARNINGS:</b>Average Hourly Earnings expected at +0.4% M/M (prev. +0.6%); Average Hourly Earnings expected at +4. 6% Y/Y (prev. +4.3%); Average Workweek Hours expected at 34.7hrs (prev. 34.7hrs). Aggregating the nonfarm payrolls data since March 2020, around 5.33mln Americans still remain out of work relative to pre-pandemic levels.</p><p><blockquote><b>收益：</b>平均时薪预计为+0.4%M/M（前值为+0.6%）；平均时薪预计同比+4.6%（前值+4.3%）；平均每周工作时间预计为34.7小时（之前为34.7小时）。汇总2020年3月以来的非农就业数据，相对于大流行前的水平，仍有约533万美国人失业。</blockquote></p><p> <b>ADP:</b>The ADP National Employment Report showed 568k jobs added to the US economy in September, topping expectations for 428k, and a better pace than the prior 340k (revised down from 374k initially reported). ADP itself said that the labor market recovery continued to make progress despite the marked slowdown in the rate of job additions from the 748k pace seen in Q2. It also noted that Leisure &amp; Hospitality remained one of the biggest beneficiaries to the recovery, though said that hiring was still heavily impacted by the trajectory of the pandemic, especially for small firms. ADP thinks that the current bottlenecks in hiring will likely fade as the pandemic situation continues to improve, and that could set the stage for solid job gains in the months ahead. On the data methodology, analysts continue to note that ADP's model incorporates much of the prior official payrolls data, other macroeconomic variables, as well as data from its own payrolls platform; \"Payrolls were soft in August, thanks to the hit to the services sector from the Delta variant, and that weakness likely constrained ADP data,\" Pantheon Macroeconomics said. \"The overshoot to consensus, therefore, suggests that the other inputs to ADP’s model were stronger than we expected, but none of the details are published, so we don’t know if the overshoot was model-driven or due to stronger employment data at ADP’s clients.\"</p><p><blockquote><b>ADP：</b>ADP全国就业报告显示，9月份美国经济新增就业岗位56.8万个，高于预期的42.8万个，好于之前的34万个（从最初报告的37.4万个下调）。ADP本身表示，尽管就业岗位新增速度较第二季度的74.8万个明显放缓，但劳动力市场复苏仍在继续取得进展。报告还指出，休闲和酒店业仍然是经济复苏的最大受益者之一，但表示招聘仍受到疫情轨迹的严重影响，尤其是对小企业而言。ADP认为，随着疫情形势的持续改善，当前的招聘瓶颈可能会消失，这可能为未来几个月的就业增长奠定基础。在数据方法方面，分析师继续指出，ADP的模型包含了许多之前的官方就业数据、其他宏观经济变量以及来自其自己的就业平台的数据；Pantheon Macroeconomics表示：“由于德尔塔变异毒株对服务业的打击，8月份就业人数疲软，这种疲软可能会限制ADP数据。”“因此，超出共识表明ADP模型的其他输入比我们预期的要强，但没有公布任何细节，因此我们不知道超出是模型驱动的还是由于就业数据更强劲在ADP的客户。”</blockquote></p><p> <b>INITIAL JOBLESS CLAIMS:</b>Initial jobless claims data for the week that coincides with the BLS jobs report survey window saw claims at around 351k – little changed from the 349k for the August jobs data survey window – where analysts said seasonal factors played a role in boosting the weekly data, while there may have been some lingering Hurricane Ida effects; the corresponding continuing claims data has fallen to 2.802mln in the September survey period vs 2.908mln in the August survey period. In aggregate, the data continues to point to declining trend, although in recent weeks the level of jobless claims has been picking up again.</p><p><blockquote><b>首次申请失业救济人数：</b>与BLS就业报告调查窗口一致的当周首次申请失业救济人数约为35.1万人，与8月份就业数据调查窗口的34.9万人相比变化不大，分析师表示，季节性因素在提振每周数据方面发挥了作用，而飓风艾达可能会产生一些挥之不去的影响；9月份调查期间相应的持续申领数据已降至280.2万人，而8月份调查期间为290.8万人。总体而言，数据继续显示下降趋势，尽管最近几周初请失业金人数再次回升。</blockquote></p><p> <b>BUSINESS SURVEYS</b>: The Services and Manufacturing ISM reports showed divergent trends in September, with the service sector employment sub-index easing a little to 53.0 from 53.7, signalling growth but at a slower rate, while the manufacturing employment sub-index rose back into expansionary territory, printing 50.2 from 49.0 prior. On the manufacturing sector, ISM said companies were still struggling to meet labour-management plans, but noted some modest signs of progress compared to previous months: \"Less than 5% of comments noted improvements regarding employment, compared to none in August,\" it said, \"an overwhelming majority of panelists indicate their companies are hiring or attempting to hire,\" where around 85% of responses were about seeking additional staffing, while nearly half of the respondents expressed difficulty in filling positions, an increase from August. \"The increasing frequency of comments on turnover rates and retirements continued a trend that began in August,\" ISM said. Meanwhile, in the services sector, employment activity rose for a third straight month; respondents noted that employees were flocking to better-paying jobs and there was a lack of pipeline to replace these staff, while other respondents talked of labor shortages being experienced at all levels.</p><p><blockquote><b>商业调查</b>：9月份服务业和制造业ISM报告显示出不同的趋势，服务业就业分项指数从53.7小幅放缓至53.0，表明增长但速度放缓，而制造业就业分项指数则回升至扩张区域，从之前的49.0升至50.2。在制造业方面，ISM表示，企业仍在努力实现劳资计划，但指出与前几个月相比出现了一些适度的进展迹象：“不到5%的评论指出就业方面有所改善，而8月份没有任何评论”它表示，“绝大多数小组成员表示他们的公司正在招聘或试图招聘”，其中约85%的回复是关于寻求额外人员，而近一半的受访者表示难以填补职位，比8月份有所增加。ISM表示：“有关离职率和退休的评论频率不断增加，延续了8月份开始的趋势。”与此同时，服务业就业活动连续第三个月上升；受访者指出，员工纷纷涌向薪酬更高的工作，并且缺乏替代这些员工的渠道，而其他受访者则谈到各个层面都存在劳动力短缺。</blockquote></p><p> <b>ARGUING FOR A BETTER-THAN-EXPECTED REPORT</b>:</p><p><blockquote><b>主张一份好于预期的报告</b>：</blockquote></p><p></p><p> <ul>  <li><b>End of federal enhanced unemployment beneﬁts</b>. The expiration of federal beneﬁts in some states boosted labor supply and job-ﬁnding rates over the summer, and all remaining such programs expired on September 5. The July and August indicated a cumulative 6pp boost to job-ﬁnding probabilities from June to August for workers losing $300 top-up payments and a 12pp boost for workers losing all beneﬁts.<b>Some of the 6mn workers who lost some or all beneﬁts on September 5 got a job by September 18—in time to be counted in tomorrow’s data.</b>Goldman assumes a +200k boost to job growth from this channel, with a larger increase in subsequent reports (+1.3mn cumulatively by year end).</li> </ul> <img src=\"https://static.tigerbbs.com/fa8e5900cf66c76d4b64055f84e58048\" tg-width=\"630\" tg-height=\"428\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>联邦强化失业救济金结束</b>一些州联邦福利的到期提振了夏季的劳动力供应和就业率，所有剩余的此类计划都于9月5日到期。7月和8月的数据显示，从6月到8月，失去300美元补充付款的工人的找工作概率累计增加了6个百分点，失去所有福利的工人的找工作概率增加了12个百分点。<b>9月5日失去部分或全部福利的600万工人中，一些人在9月18日之前找到了工作——及时计入明天的数据。</b>高盛假设这一渠道将促进就业增长+20万，在随后的报告中会有更大的增长（到年底累计+130万）。</li></ul></blockquote></p><p> <ul>  <li><b>School reopening</b>. The largest 100 school districts are all open for in-person learning, catalyzing the return of many previously furloughed teachers and support staff. While full normalization of employment levels would contribute 600k jobs (mom sa, see left panel of the chart below), some janitors and support staff did not return due to hybrid teaching models, and job openings in the sector are only 200k above the pre-crisis level (see right panel). Relatedly, the BLS’s seasonal factors already embed the usual rehiring of education workers on summer layoff, so if fewer janitors returned to work than in a typical September, this would reduce seasonally adjusted job growth, other things equal. Taken together, assume a roughly 150k boost from the reopening of schools in tomorrow’s report.</li> </ul> <img src=\"https://static.tigerbbs.com/ff3e69723b40e0d372ec2bebecb38b1f\" tg-width=\"799\" tg-height=\"376\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>学校重新开学</b>.最大的100个学区都开放了面对面学习，促进了许多以前休假的教师和辅助人员的回归。虽然就业水平完全正常化将创造60万个工作岗位（mom sa，见下图左图），但由于混合教学模式，一些看门人和辅助人员没有返回，该部门的职位空缺仅比危机前水平高出20万个（见右图）。与此相关的是，BLS的季节性因素已经嵌入了夏季裁员中通常重新雇用教育工作者的情况，因此，如果返回工作岗位的看门人比典型的9月份少，在其他条件相同的情况下，这将减少经季节性调整的就业增长。综上所述，假设明天的报告中学校重新开放将增加大约15万人。</li></ul></blockquote></p><p> <ul>  <li><b>Job availability</b>. The Conference Board labor differential—the difference between the percent of respondents saying jobs are plentiful and those saying jobs are hardto get - edged down to 42.5 from 44.4, still an elevated level. Additionally, JOLTS job openings increased by 749k in July to a new record high of 10.9mn.</li>  <li><b>ADP.</b>Private sector employment in the ADP report increased by 568k in September, above consensus expectations for a 430k gain, implying strong growth in the underlying ADP sample. Additionally, schools generally do not use ADP payroll software, arguing for a larger gain from school reopening in the official payroll measure.</li> </ul> <b>ARGUING FOR A WEAKER-THAN-EXPECTED REPORT:</b></p><p><blockquote><ul><li><b>工作可用性</b>世界大型企业联合会（Conference Board）的劳动力差异——表示工作岗位充足的受访者与表示工作岗位难以获得的受访者之间的差异——从44.4%小幅降至42.5%，仍处于较高水平。此外，7月份JOLTS职位空缺增加了74.9万个，创下1090万个的新高。</li><li><b>ADP.</b>ADP报告中的私营部门就业人数在9月份增加了56.8万人，高于普遍预期的43万人，这意味着基础ADP样本的强劲增长。此外，学校通常不使用ADP工资软件，认为在官方工资措施中，学校重新开放会带来更大的收益。</li></ul><b>主张报告弱于预期：</b></blockquote></p><p> <ul>  <li><b>Delta variant.</b>Rebounding covid infection rates weighed on services consumption and the labor market in August. And while US case counts began to decline in early September, restaurant seatings on Open Table rebounded only marginally. leisure and hospitality employment rose in September, but probably not at the ~400k monthly pace of June and July.</li>  <li><b>Employer surveys</b>. The employment components of our business surveys were flat to down, whereas we and consensus forecast a pickup in job growth. Goldman's services survey employment tracker remained unchanged at 54.5 and the manufacturing survey employment tracker declined 0.4pt to 57.8. And while the Goldman Sachs Analyst Index (GSAI) decreased 0.8% to 68.5, the employment component rose1.9% to 71.9.</li> </ul> <b>NEUTRAL FACTORS:</b></p><p><blockquote><ul><li><b>德尔塔变异毒株.</b>8月份，covid感染率反弹给服务消费和劳动力市场带来压力。尽管美国病例数在9月初开始下降，但开放式餐桌上的餐厅座位仅小幅反弹。休闲和酒店业就业人数在9月份有所增加，但可能不会像6月和7月那样以每月约40万的速度增长。</li><li><b>雇主调查</b>我们的商业调查的就业部分持平或下降，而我们和共识预测就业增长将会回升。高盛服务业调查就业跟踪指数维持在54.5不变，制造业调查就业跟踪指数下降0.4个百分点至57.8。高盛分析师指数(GSAI)下降0.8%至68.5，但就业指数上涨1.9%至71.9。</li></ul><b>中性因素：</b></blockquote></p><p></p><p> <ul>  <li><b>Big Data.</b>High-frequency data on the labor market were mixed between the August and September survey weeks, on net providing little guidance about the underlying pace of job growth. Three of the five measures tracked indicate an at-or-above-consensus gain (Census Small Business Pulse +0.5mn, ADP +0.6mn,Google mobility +2mn), but the Homebase data was an outlier to the downside. At face value, it would indicate a large outright decline in payrolls. The Census Household Pulse (-0.6mn) was also quite weak, though encouragingly, it also indicated a large drop in childcare-related labor supply headwinds as schools reopened.</li>  <li><b>Seasonality.</b>The September seasonal hurdle is relatively low: the BLS adjustment factors generally assume a 600-700k decline in private payrolls (which exclude public schools), compared to around -100k on average in July and August. Continued labor shortages encouraged firms to lay off fewer workers at the end of summer. Partially offsetting this tailwind, the September seasonal factors may have evolved unfavorably due to the crisis—specifically by fitting to last September’s reopening-driven job surge (private payrolls +932k mom sa).</li>  <li><b>Jobless claims.</b>Initial jobless claims fell during the September payroll month, averaging 339k per week vs. 378k in August despite a boost from individuals transitioning or attempting to transition to state programs. Across all employee programs including emergency benefits, continuing claims fell dramatically (-3.3mn)–but again for non-economic reasons (federal enhanced programs expired). Continuing claims in regular state programs decreased 106k from survey week to survey week.</li>  <li><b>Job cuts.</b>Announced layoffs reported by Challenger, Gray &amp; Christmas rebounded 11% month-over-month in September after decreasing by 14% over the prior two months (SA by GS). Nonetheless, layoffs remain near the three-decade low on this measure (in 1993).</li> </ul></p><p><blockquote><ul><li><b>大数据。</b>在8月和9月的调查周期间，劳动力市场的高频数据好坏参半，对就业增长的基本速度几乎没有提供指导。跟踪的五项指标中有三项表明涨幅等于或高于共识（Census Small Business Pulse+0.5百万，ADP+0.6百万，Google mobility+200百万），但Homebase数据是下行的异常值。从表面上看，这将表明就业人数大幅下降。人口普查家庭脉搏（-60万）也相当弱，尽管令人鼓舞，但它也表明，随着学校重新开放，与儿童保育相关的劳动力供应阻力大幅下降。</li><li><b>季节性。</b>9月份的季节性障碍相对较低：BLS调整因素通常假设私人就业人数（不包括公立学校）下降60-70万，而7月和8月平均下降约10万。持续的劳动力短缺鼓励企业在夏末减少裁员。部分抵消了这一顺风，9月份的季节性因素可能因危机而发生了不利的演变——特别是通过适应去年9月重新开放驱动的就业激增（私人就业人数+93.2万环比sa）。</li><li><b>申请失业救济。</b>尽管个人过渡或试图过渡到州计划，但9月份首次申请失业救济人数有所下降，平均每周为33.9万人，而8月份为37.8万人。在包括紧急福利在内的所有员工计划中，持续索赔大幅下降（-330万），但也是出于非经济原因（联邦增强计划到期）。从一个调查周到另一个调查周，常规州项目的持续申请减少了10.6万。</li><li><b>裁员。</b>Challenger、Gray&amp;Christmas报告的宣布裁员人数在前两个月下降14%后，9月份环比反弹11%（SA by GS）。尽管如此，根据这一指标，裁员仍接近30年来的最低点（1993年）。</li></ul></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>September Payrolls Preview: It Will Be A Beat, The Question Is How Big<blockquote>9月就业预览：这将是一个节拍，问题是有多大</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSeptember Payrolls Preview: It Will Be A Beat, The Question Is How Big<blockquote>9月就业预览：这将是一个节拍，问题是有多大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-10-08 14:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>After a strong initial claims report and a solid ADP private payrolls print, all eyes turn to the most important economic data point of the week, and the month, Friday's nonfarm payrolls report due at 830am ET on Friday, where consensus expects a 500K print- more than double last month's disappointing 235K print - as well as a drop in the unemployment rate to 5.1% and an increase in average hourly earnings to 4.6%. And unlike last month, when wecorrectly predicted the big miss in August payrolls, this time we agree that tomorrow's report will be a beat, the only question is how big.</p><p><blockquote>在强劲的首次申请失业救济报告和稳健的ADP私人就业数据之后，所有人的目光都转向了本周和本月最重要的经济数据点，即美国东部时间周五上午830点发布的周五非农就业报告，市场普遍预计非农就业报告将达到50万份——是上个月令人失望的23.5万份的两倍多——失业率降至5.1%，平均时薪增加至4.6%。与上个月不同的是，当我们正确预测8月份就业人数将大幅下降时，这次我们同意明天的报告将是一个节拍，唯一的问题是幅度有多大。</blockquote></p><p> Here is a snapshot of what to expect tomorrow:</p><p><blockquote>以下是明天的快照：</blockquote></p><p> <ul>  <li>Total Payrolls: 500K, Last 235K</li>  <li>Private Payrolls: 450K, Last 243K</li>  <li>Unemployment Rate: 5.1%, Last 5.2%</li>  <li>Labor force participation rate: 61.8%, Last 61.7%</li>  <li>Average Hourly Earnings Y/Y: 4.6%, Last 4.3%</li>  <li>Average Weekly Hours: 34.7, Last 34.7</li> </ul> As&nbsp;Newsquawk&nbsp;writes in its NFP preview, September’s jobs data, the last before the Fed’s November 3rd policy meeting, will be framed in the context of the central bank’s expected taper announcement, where a merely satisfactory report would likely to be enough for the FOMC to greenlight a November announcement to scale-back its USD 120BN/month asset purchases.</p><p><blockquote><ul><li>总就业人数：50万，最后23.5万</li><li>私人就业人数：45万，最新24.3万</li><li>失业率：5.1%，去年5.2%</li><li>劳动参与率：61.8%，上次61.7%</li><li>平均时薪同比：4.6%，过去4.3%</li><li>平均每周工作时间：34.7，最后34.7</li></ul>正如Newsquawk在其NFP预览中所写，9月份的就业数据是美联储11月3日政策会议之前的最后一份数据，将在美联储预期宣布缩减规模的背景下进行，在这种背景下，一份令人满意的报告可能足以让FOMC批准11月份宣布缩减每月1200亿美元的资产购买规模。</blockquote></p><p> Goldman economists are more bullish than normal, and estimate nonfarm payrolls rose 600k in September, above consensus of +500k, and they note that \"labor demand remains very strong,&nbsp;<b>and we believe the nationwide expiration of enhanced unemployment beneﬁts on September 5 boosted effective labor supply and job growth—as it did in July and August in states that ended federal beneﬁts early.\"</b>As a result, Goldman is assuming a 200k boost in tomorrow’s numbers and a larger boost in October. The bank also believes the reopening of schools contributed to September job growth, by around 150k. Despite these tailwinds, Big Data employment signals were mixed, and dining activity rebounded only marginally.</p><p><blockquote>高盛经济学家比正常情况更加乐观，预计9月份非农就业人数增加60万，高于市场普遍预期的+50万，他们指出“劳动力需求仍然非常强劲，<b>我们相信，9月5日全国范围内强化失业救济金到期，提振了有效劳动力供应和就业增长——就像7月和8月提前结束联邦救济金的州所做的那样。”</b>因此，高盛预计明天的人数将增加20万，10月份的增幅更大。该银行还认为，学校的重新开放促进了9月份就业增长约15万人。尽管有这些有利因素，但大数据就业信号好坏参半，餐饮活动仅小幅反弹。</blockquote></p><p> Labor market proxies have been constructive for the month: ADP’s gauge of payrolls surprised to the upside, although analysts continue to note that the direct relationship between the official data and the ADP’s gauge is tenuous, despite the gap being under 100k over the last three reports. The number of initial jobless claims and continuing claims has eased back between the survey periods of the August and September jobs data, although analysts note that more recent releases have shown an uptick in claims potentially clouding the outlook. The ISM business surveys have signaled employment growth in the month, with manufacturing employment rising into growth territory again, but services sector hiring cooled a little in the month, but remains expansionary; survey commentary continues to allude to a tight labour market. The Bureau of Labor Statistics will release the September employment situation report at 13:30BST/08:30EDT on October 8th.</p><p><blockquote>本月劳动力市场指标一直具有建设性：ADP的就业数据出人意料地上升，尽管分析师继续指出，官方数据与ADP数据之间的直接关系很脆弱，尽管过去三份报告的差距低于10万。在8月和9月就业数据调查期间，首次申请失业救济人数和持续申请失业救济人数有所回落，尽管分析师指出，最近发布的数据显示申请失业救济人数上升可能会给前景蒙上阴影。ISM商业调查显示本月就业增长，制造业就业再次升至增长区域，但服务业招聘本月略有降温，但仍保持扩张；调查评论继续暗示劳动力市场紧张。美国劳工统计局将于10月8日13:30 BST/08：30EDT发布9月就业形势报告。</blockquote></p><p> <b>POLICY</b>: The September jobs report might have reduced relevance on trading conditions given that Fed officials have effectively confirmed that, barring a collapse in the jobs data, it is on course to announce a tapering of its asset purchases at the November 3rd meeting. Accordingly, trading risks may be skewed to the downside, rather than to the upside, where a significant payrolls miss may present obstacles to the Fed announcing its taper. Additionally, it is worth being cognizant of how efforts in Washington to raise the debt ceiling are progressing; as yet, officials have not struck a deal, and are in the process of enacting stop gap legislation to allow funding into December; some analysts suggest that the Fed may be reticent to tighten policy in the face of potential default risks.</p><p><blockquote><b>政策</b>：鉴于美联储官员实际上已经确认，除非就业数据崩溃，否则美联储将在11月3日的会议上宣布缩减资产购买规模，9月份就业报告可能会降低对交易状况的相关性。因此，交易风险可能偏向下行，而不是上行，就业人数大幅下降可能会给美联储宣布缩减规模带来障碍。此外，值得认识到华盛顿提高债务上限的努力进展如何；到目前为止，官员们尚未达成协议，正在制定权宜之计立法，以允许资金进入12月；一些分析师暗示，面对潜在的违约风险，美联储可能不愿收紧政策。</blockquote></p><p> <b>PAYROLLS:</b>The consensus looks for 500k nonfarm payrolls to be added to the US economy in September (prev. 235k), which would be a cooler rate of growth than the three- and six-month average rate, though in line with the 12-month average (3-month average is 750k/month, the six-month average is 653k/month, and the 12-month average is 503k/month – that technically at least suggests an improving rate of payrolls growth in recent months).<b>Aggregating the nonfarm payrolls data since March 2020, around 5.33mln Americans remain out of work relative to pre-pandemic levels.</b></p><p><blockquote><b>工资单：</b>市场普遍预计9月份美国经济将增加50万非农就业人数（上一篇。23.5万），这将低于三个月和六个月的平均增长率，尽管与12个月的平均增长率一致（3个月的平均增长率为75万/月，6个月的平均增长率为65.3万/月，12个月的平均增长率为50.3万/月——这至少在技术上表明最近几个月的就业增长率有所改善）。<b>汇总2020年3月以来的非农就业数据，相对于大流行前的水平，约有533万美国人仍处于失业状态。</b></blockquote></p><p></p><p> <b>MEASURES OF SLACK:</b>The Unemployment Rate is expected at 5.1% (prev. 5.2%); Labour Force Participation previously at 61.7% vs 63.2% pre-pandemic; U6 measure of underemployment was previously at 8.8% vs 7.0% prepandemic; Employment-population ratio was previously 58.5% vs 61.1% pre-pandemic. These measures of slack are likely to provide more insight into how Fed officials are judging labour market progress, with many in recent months noting that they are closely watching the Underemployment Rate, Participation Rate, and the Employment-Population Ratio for a better handle on the level of slack that remains in the economy. Analysts would be encouraged the closer these get to pre-pandemic levels.</p><p><blockquote><b>松弛措施：</b>失业率预计为5.1%（此前为5.2%）；劳动力参与率此前为61.7%，而疫情前为63.2%；U6衡量就业不足的指标此前为8.8%，而疫情前为7.0%；就业与人口比率之前为58.5%，而疫情之前为61.1%。这些宽松指标可能会让人们更深入地了解美联储官员如何判断劳动力市场的进展，许多人最近几个月指出，他们正在密切关注就业不足率、参与率和就业人口比率，以便更好地应对经济中仍然存在的宽松程度。这些数据越接近大流行前的水平，分析师就会受到鼓舞。</blockquote></p><p> <b>EARNINGS:</b>Average Hourly Earnings expected at +0.4% M/M (prev. +0.6%); Average Hourly Earnings expected at +4. 6% Y/Y (prev. +4.3%); Average Workweek Hours expected at 34.7hrs (prev. 34.7hrs). Aggregating the nonfarm payrolls data since March 2020, around 5.33mln Americans still remain out of work relative to pre-pandemic levels.</p><p><blockquote><b>收益：</b>平均时薪预计为+0.4%M/M（前值为+0.6%）；平均时薪预计同比+4.6%（前值+4.3%）；平均每周工作时间预计为34.7小时（之前为34.7小时）。汇总2020年3月以来的非农就业数据，相对于大流行前的水平，仍有约533万美国人失业。</blockquote></p><p> <b>ADP:</b>The ADP National Employment Report showed 568k jobs added to the US economy in September, topping expectations for 428k, and a better pace than the prior 340k (revised down from 374k initially reported). ADP itself said that the labor market recovery continued to make progress despite the marked slowdown in the rate of job additions from the 748k pace seen in Q2. It also noted that Leisure &amp; Hospitality remained one of the biggest beneficiaries to the recovery, though said that hiring was still heavily impacted by the trajectory of the pandemic, especially for small firms. ADP thinks that the current bottlenecks in hiring will likely fade as the pandemic situation continues to improve, and that could set the stage for solid job gains in the months ahead. On the data methodology, analysts continue to note that ADP's model incorporates much of the prior official payrolls data, other macroeconomic variables, as well as data from its own payrolls platform; \"Payrolls were soft in August, thanks to the hit to the services sector from the Delta variant, and that weakness likely constrained ADP data,\" Pantheon Macroeconomics said. \"The overshoot to consensus, therefore, suggests that the other inputs to ADP’s model were stronger than we expected, but none of the details are published, so we don’t know if the overshoot was model-driven or due to stronger employment data at ADP’s clients.\"</p><p><blockquote><b>ADP：</b>ADP全国就业报告显示，9月份美国经济新增就业岗位56.8万个，高于预期的42.8万个，好于之前的34万个（从最初报告的37.4万个下调）。ADP本身表示，尽管就业岗位新增速度较第二季度的74.8万个明显放缓，但劳动力市场复苏仍在继续取得进展。报告还指出，休闲和酒店业仍然是经济复苏的最大受益者之一，但表示招聘仍受到疫情轨迹的严重影响，尤其是对小企业而言。ADP认为，随着疫情形势的持续改善，当前的招聘瓶颈可能会消失，这可能为未来几个月的就业增长奠定基础。在数据方法方面，分析师继续指出，ADP的模型包含了许多之前的官方就业数据、其他宏观经济变量以及来自其自己的就业平台的数据；Pantheon Macroeconomics表示：“由于德尔塔变异毒株对服务业的打击，8月份就业人数疲软，这种疲软可能会限制ADP数据。”“因此，超出共识表明ADP模型的其他输入比我们预期的要强，但没有公布任何细节，因此我们不知道超出是模型驱动的还是由于就业数据更强劲在ADP的客户。”</blockquote></p><p> <b>INITIAL JOBLESS CLAIMS:</b>Initial jobless claims data for the week that coincides with the BLS jobs report survey window saw claims at around 351k – little changed from the 349k for the August jobs data survey window – where analysts said seasonal factors played a role in boosting the weekly data, while there may have been some lingering Hurricane Ida effects; the corresponding continuing claims data has fallen to 2.802mln in the September survey period vs 2.908mln in the August survey period. In aggregate, the data continues to point to declining trend, although in recent weeks the level of jobless claims has been picking up again.</p><p><blockquote><b>首次申请失业救济人数：</b>与BLS就业报告调查窗口一致的当周首次申请失业救济人数约为35.1万人，与8月份就业数据调查窗口的34.9万人相比变化不大，分析师表示，季节性因素在提振每周数据方面发挥了作用，而飓风艾达可能会产生一些挥之不去的影响；9月份调查期间相应的持续申领数据已降至280.2万人，而8月份调查期间为290.8万人。总体而言，数据继续显示下降趋势，尽管最近几周初请失业金人数再次回升。</blockquote></p><p> <b>BUSINESS SURVEYS</b>: The Services and Manufacturing ISM reports showed divergent trends in September, with the service sector employment sub-index easing a little to 53.0 from 53.7, signalling growth but at a slower rate, while the manufacturing employment sub-index rose back into expansionary territory, printing 50.2 from 49.0 prior. On the manufacturing sector, ISM said companies were still struggling to meet labour-management plans, but noted some modest signs of progress compared to previous months: \"Less than 5% of comments noted improvements regarding employment, compared to none in August,\" it said, \"an overwhelming majority of panelists indicate their companies are hiring or attempting to hire,\" where around 85% of responses were about seeking additional staffing, while nearly half of the respondents expressed difficulty in filling positions, an increase from August. \"The increasing frequency of comments on turnover rates and retirements continued a trend that began in August,\" ISM said. Meanwhile, in the services sector, employment activity rose for a third straight month; respondents noted that employees were flocking to better-paying jobs and there was a lack of pipeline to replace these staff, while other respondents talked of labor shortages being experienced at all levels.</p><p><blockquote><b>商业调查</b>：9月份服务业和制造业ISM报告显示出不同的趋势，服务业就业分项指数从53.7小幅放缓至53.0，表明增长但速度放缓，而制造业就业分项指数则回升至扩张区域，从之前的49.0升至50.2。在制造业方面，ISM表示，企业仍在努力实现劳资计划，但指出与前几个月相比出现了一些适度的进展迹象：“不到5%的评论指出就业方面有所改善，而8月份没有任何评论”它表示，“绝大多数小组成员表示他们的公司正在招聘或试图招聘”，其中约85%的回复是关于寻求额外人员，而近一半的受访者表示难以填补职位，比8月份有所增加。ISM表示：“有关离职率和退休的评论频率不断增加，延续了8月份开始的趋势。”与此同时，服务业就业活动连续第三个月上升；受访者指出，员工纷纷涌向薪酬更高的工作，并且缺乏替代这些员工的渠道，而其他受访者则谈到各个层面都存在劳动力短缺。</blockquote></p><p> <b>ARGUING FOR A BETTER-THAN-EXPECTED REPORT</b>:</p><p><blockquote><b>主张一份好于预期的报告</b>：</blockquote></p><p></p><p> <ul>  <li><b>End of federal enhanced unemployment beneﬁts</b>. The expiration of federal beneﬁts in some states boosted labor supply and job-ﬁnding rates over the summer, and all remaining such programs expired on September 5. The July and August indicated a cumulative 6pp boost to job-ﬁnding probabilities from June to August for workers losing $300 top-up payments and a 12pp boost for workers losing all beneﬁts.<b>Some of the 6mn workers who lost some or all beneﬁts on September 5 got a job by September 18—in time to be counted in tomorrow’s data.</b>Goldman assumes a +200k boost to job growth from this channel, with a larger increase in subsequent reports (+1.3mn cumulatively by year end).</li> </ul> <img src=\"https://static.tigerbbs.com/fa8e5900cf66c76d4b64055f84e58048\" tg-width=\"630\" tg-height=\"428\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>联邦强化失业救济金结束</b>一些州联邦福利的到期提振了夏季的劳动力供应和就业率，所有剩余的此类计划都于9月5日到期。7月和8月的数据显示，从6月到8月，失去300美元补充付款的工人的找工作概率累计增加了6个百分点，失去所有福利的工人的找工作概率增加了12个百分点。<b>9月5日失去部分或全部福利的600万工人中，一些人在9月18日之前找到了工作——及时计入明天的数据。</b>高盛假设这一渠道将促进就业增长+20万，在随后的报告中会有更大的增长（到年底累计+130万）。</li></ul></blockquote></p><p> <ul>  <li><b>School reopening</b>. The largest 100 school districts are all open for in-person learning, catalyzing the return of many previously furloughed teachers and support staff. While full normalization of employment levels would contribute 600k jobs (mom sa, see left panel of the chart below), some janitors and support staff did not return due to hybrid teaching models, and job openings in the sector are only 200k above the pre-crisis level (see right panel). Relatedly, the BLS’s seasonal factors already embed the usual rehiring of education workers on summer layoff, so if fewer janitors returned to work than in a typical September, this would reduce seasonally adjusted job growth, other things equal. Taken together, assume a roughly 150k boost from the reopening of schools in tomorrow’s report.</li> </ul> <img src=\"https://static.tigerbbs.com/ff3e69723b40e0d372ec2bebecb38b1f\" tg-width=\"799\" tg-height=\"376\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>学校重新开学</b>.最大的100个学区都开放了面对面学习，促进了许多以前休假的教师和辅助人员的回归。虽然就业水平完全正常化将创造60万个工作岗位（mom sa，见下图左图），但由于混合教学模式，一些看门人和辅助人员没有返回，该部门的职位空缺仅比危机前水平高出20万个（见右图）。与此相关的是，BLS的季节性因素已经嵌入了夏季裁员中通常重新雇用教育工作者的情况，因此，如果返回工作岗位的看门人比典型的9月份少，在其他条件相同的情况下，这将减少经季节性调整的就业增长。综上所述，假设明天的报告中学校重新开放将增加大约15万人。</li></ul></blockquote></p><p> <ul>  <li><b>Job availability</b>. The Conference Board labor differential—the difference between the percent of respondents saying jobs are plentiful and those saying jobs are hardto get - edged down to 42.5 from 44.4, still an elevated level. Additionally, JOLTS job openings increased by 749k in July to a new record high of 10.9mn.</li>  <li><b>ADP.</b>Private sector employment in the ADP report increased by 568k in September, above consensus expectations for a 430k gain, implying strong growth in the underlying ADP sample. Additionally, schools generally do not use ADP payroll software, arguing for a larger gain from school reopening in the official payroll measure.</li> </ul> <b>ARGUING FOR A WEAKER-THAN-EXPECTED REPORT:</b></p><p><blockquote><ul><li><b>工作可用性</b>世界大型企业联合会（Conference Board）的劳动力差异——表示工作岗位充足的受访者与表示工作岗位难以获得的受访者之间的差异——从44.4%小幅降至42.5%，仍处于较高水平。此外，7月份JOLTS职位空缺增加了74.9万个，创下1090万个的新高。</li><li><b>ADP.</b>ADP报告中的私营部门就业人数在9月份增加了56.8万人，高于普遍预期的43万人，这意味着基础ADP样本的强劲增长。此外，学校通常不使用ADP工资软件，认为在官方工资措施中，学校重新开放会带来更大的收益。</li></ul><b>主张报告弱于预期：</b></blockquote></p><p> <ul>  <li><b>Delta variant.</b>Rebounding covid infection rates weighed on services consumption and the labor market in August. And while US case counts began to decline in early September, restaurant seatings on Open Table rebounded only marginally. leisure and hospitality employment rose in September, but probably not at the ~400k monthly pace of June and July.</li>  <li><b>Employer surveys</b>. The employment components of our business surveys were flat to down, whereas we and consensus forecast a pickup in job growth. Goldman's services survey employment tracker remained unchanged at 54.5 and the manufacturing survey employment tracker declined 0.4pt to 57.8. And while the Goldman Sachs Analyst Index (GSAI) decreased 0.8% to 68.5, the employment component rose1.9% to 71.9.</li> </ul> <b>NEUTRAL FACTORS:</b></p><p><blockquote><ul><li><b>德尔塔变异毒株.</b>8月份，covid感染率反弹给服务消费和劳动力市场带来压力。尽管美国病例数在9月初开始下降，但开放式餐桌上的餐厅座位仅小幅反弹。休闲和酒店业就业人数在9月份有所增加，但可能不会像6月和7月那样以每月约40万的速度增长。</li><li><b>雇主调查</b>我们的商业调查的就业部分持平或下降，而我们和共识预测就业增长将会回升。高盛服务业调查就业跟踪指数维持在54.5不变，制造业调查就业跟踪指数下降0.4个百分点至57.8。高盛分析师指数(GSAI)下降0.8%至68.5，但就业指数上涨1.9%至71.9。</li></ul><b>中性因素：</b></blockquote></p><p></p><p> <ul>  <li><b>Big Data.</b>High-frequency data on the labor market were mixed between the August and September survey weeks, on net providing little guidance about the underlying pace of job growth. Three of the five measures tracked indicate an at-or-above-consensus gain (Census Small Business Pulse +0.5mn, ADP +0.6mn,Google mobility +2mn), but the Homebase data was an outlier to the downside. At face value, it would indicate a large outright decline in payrolls. The Census Household Pulse (-0.6mn) was also quite weak, though encouragingly, it also indicated a large drop in childcare-related labor supply headwinds as schools reopened.</li>  <li><b>Seasonality.</b>The September seasonal hurdle is relatively low: the BLS adjustment factors generally assume a 600-700k decline in private payrolls (which exclude public schools), compared to around -100k on average in July and August. Continued labor shortages encouraged firms to lay off fewer workers at the end of summer. Partially offsetting this tailwind, the September seasonal factors may have evolved unfavorably due to the crisis—specifically by fitting to last September’s reopening-driven job surge (private payrolls +932k mom sa).</li>  <li><b>Jobless claims.</b>Initial jobless claims fell during the September payroll month, averaging 339k per week vs. 378k in August despite a boost from individuals transitioning or attempting to transition to state programs. Across all employee programs including emergency benefits, continuing claims fell dramatically (-3.3mn)–but again for non-economic reasons (federal enhanced programs expired). Continuing claims in regular state programs decreased 106k from survey week to survey week.</li>  <li><b>Job cuts.</b>Announced layoffs reported by Challenger, Gray &amp; Christmas rebounded 11% month-over-month in September after decreasing by 14% over the prior two months (SA by GS). Nonetheless, layoffs remain near the three-decade low on this measure (in 1993).</li> </ul></p><p><blockquote><ul><li><b>大数据。</b>在8月和9月的调查周期间，劳动力市场的高频数据好坏参半，对就业增长的基本速度几乎没有提供指导。跟踪的五项指标中有三项表明涨幅等于或高于共识（Census Small Business Pulse+0.5百万，ADP+0.6百万，Google mobility+200百万），但Homebase数据是下行的异常值。从表面上看，这将表明就业人数大幅下降。人口普查家庭脉搏（-60万）也相当弱，尽管令人鼓舞，但它也表明，随着学校重新开放，与儿童保育相关的劳动力供应阻力大幅下降。</li><li><b>季节性。</b>9月份的季节性障碍相对较低：BLS调整因素通常假设私人就业人数（不包括公立学校）下降60-70万，而7月和8月平均下降约10万。持续的劳动力短缺鼓励企业在夏末减少裁员。部分抵消了这一顺风，9月份的季节性因素可能因危机而发生了不利的演变——特别是通过适应去年9月重新开放驱动的就业激增（私人就业人数+93.2万环比sa）。</li><li><b>申请失业救济。</b>尽管个人过渡或试图过渡到州计划，但9月份首次申请失业救济人数有所下降，平均每周为33.9万人，而8月份为37.8万人。在包括紧急福利在内的所有员工计划中，持续索赔大幅下降（-330万），但也是出于非经济原因（联邦增强计划到期）。从一个调查周到另一个调查周，常规州项目的持续申请减少了10.6万。</li><li><b>裁员。</b>Challenger、Gray&amp;Christmas报告的宣布裁员人数在前两个月下降14%后，9月份环比反弹11%（SA by GS）。尽管如此，根据这一指标，裁员仍接近30年来的最低点（1993年）。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/september-payrolls-preview-it-will-be-beat-question-how-big\">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":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/september-payrolls-preview-it-will-be-beat-question-how-big","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135993400","content_text":"After a strong initial claims report and a solid ADP private payrolls print, all eyes turn to the most important economic data point of the week, and the month, Friday's nonfarm payrolls report due at 830am ET on Friday, where consensus expects a 500K print- more than double last month's disappointing 235K print - as well as a drop in the unemployment rate to 5.1% and an increase in average hourly earnings to 4.6%. And unlike last month, when wecorrectly predicted the big miss in August payrolls, this time we agree that tomorrow's report will be a beat, the only question is how big.\nHere is a snapshot of what to expect tomorrow:\n\nTotal Payrolls: 500K, Last 235K\nPrivate Payrolls: 450K, Last 243K\nUnemployment Rate: 5.1%, Last 5.2%\nLabor force participation rate: 61.8%, Last 61.7%\nAverage Hourly Earnings Y/Y: 4.6%, Last 4.3%\nAverage Weekly Hours: 34.7, Last 34.7\n\nAs Newsquawk writes in its NFP preview, September’s jobs data, the last before the Fed’s November 3rd policy meeting, will be framed in the context of the central bank’s expected taper announcement, where a merely satisfactory report would likely to be enough for the FOMC to greenlight a November announcement to scale-back its USD 120BN/month asset purchases.\nGoldman economists are more bullish than normal, and estimate nonfarm payrolls rose 600k in September, above consensus of +500k, and they note that \"labor demand remains very strong, and we believe the nationwide expiration of enhanced unemployment beneﬁts on September 5 boosted effective labor supply and job growth—as it did in July and August in states that ended federal beneﬁts early.\"As a result, Goldman is assuming a 200k boost in tomorrow’s numbers and a larger boost in October. The bank also believes the reopening of schools contributed to September job growth, by around 150k. Despite these tailwinds, Big Data employment signals were mixed, and dining activity rebounded only marginally.\nLabor market proxies have been constructive for the month: ADP’s gauge of payrolls surprised to the upside, although analysts continue to note that the direct relationship between the official data and the ADP’s gauge is tenuous, despite the gap being under 100k over the last three reports. The number of initial jobless claims and continuing claims has eased back between the survey periods of the August and September jobs data, although analysts note that more recent releases have shown an uptick in claims potentially clouding the outlook. The ISM business surveys have signaled employment growth in the month, with manufacturing employment rising into growth territory again, but services sector hiring cooled a little in the month, but remains expansionary; survey commentary continues to allude to a tight labour market. The Bureau of Labor Statistics will release the September employment situation report at 13:30BST/08:30EDT on October 8th.\nPOLICY: The September jobs report might have reduced relevance on trading conditions given that Fed officials have effectively confirmed that, barring a collapse in the jobs data, it is on course to announce a tapering of its asset purchases at the November 3rd meeting. Accordingly, trading risks may be skewed to the downside, rather than to the upside, where a significant payrolls miss may present obstacles to the Fed announcing its taper. Additionally, it is worth being cognizant of how efforts in Washington to raise the debt ceiling are progressing; as yet, officials have not struck a deal, and are in the process of enacting stop gap legislation to allow funding into December; some analysts suggest that the Fed may be reticent to tighten policy in the face of potential default risks.\nPAYROLLS:The consensus looks for 500k nonfarm payrolls to be added to the US economy in September (prev. 235k), which would be a cooler rate of growth than the three- and six-month average rate, though in line with the 12-month average (3-month average is 750k/month, the six-month average is 653k/month, and the 12-month average is 503k/month – that technically at least suggests an improving rate of payrolls growth in recent months).Aggregating the nonfarm payrolls data since March 2020, around 5.33mln Americans remain out of work relative to pre-pandemic levels.\nMEASURES OF SLACK:The Unemployment Rate is expected at 5.1% (prev. 5.2%); Labour Force Participation previously at 61.7% vs 63.2% pre-pandemic; U6 measure of underemployment was previously at 8.8% vs 7.0% prepandemic; Employment-population ratio was previously 58.5% vs 61.1% pre-pandemic. These measures of slack are likely to provide more insight into how Fed officials are judging labour market progress, with many in recent months noting that they are closely watching the Underemployment Rate, Participation Rate, and the Employment-Population Ratio for a better handle on the level of slack that remains in the economy. Analysts would be encouraged the closer these get to pre-pandemic levels.\nEARNINGS:Average Hourly Earnings expected at +0.4% M/M (prev. +0.6%); Average Hourly Earnings expected at +4. 6% Y/Y (prev. +4.3%); Average Workweek Hours expected at 34.7hrs (prev. 34.7hrs). Aggregating the nonfarm payrolls data since March 2020, around 5.33mln Americans still remain out of work relative to pre-pandemic levels.\nADP:The ADP National Employment Report showed 568k jobs added to the US economy in September, topping expectations for 428k, and a better pace than the prior 340k (revised down from 374k initially reported). ADP itself said that the labor market recovery continued to make progress despite the marked slowdown in the rate of job additions from the 748k pace seen in Q2. It also noted that Leisure & Hospitality remained one of the biggest beneficiaries to the recovery, though said that hiring was still heavily impacted by the trajectory of the pandemic, especially for small firms. ADP thinks that the current bottlenecks in hiring will likely fade as the pandemic situation continues to improve, and that could set the stage for solid job gains in the months ahead. On the data methodology, analysts continue to note that ADP's model incorporates much of the prior official payrolls data, other macroeconomic variables, as well as data from its own payrolls platform; \"Payrolls were soft in August, thanks to the hit to the services sector from the Delta variant, and that weakness likely constrained ADP data,\" Pantheon Macroeconomics said. \"The overshoot to consensus, therefore, suggests that the other inputs to ADP’s model were stronger than we expected, but none of the details are published, so we don’t know if the overshoot was model-driven or due to stronger employment data at ADP’s clients.\"\nINITIAL JOBLESS CLAIMS:Initial jobless claims data for the week that coincides with the BLS jobs report survey window saw claims at around 351k – little changed from the 349k for the August jobs data survey window – where analysts said seasonal factors played a role in boosting the weekly data, while there may have been some lingering Hurricane Ida effects; the corresponding continuing claims data has fallen to 2.802mln in the September survey period vs 2.908mln in the August survey period. In aggregate, the data continues to point to declining trend, although in recent weeks the level of jobless claims has been picking up again.\nBUSINESS SURVEYS: The Services and Manufacturing ISM reports showed divergent trends in September, with the service sector employment sub-index easing a little to 53.0 from 53.7, signalling growth but at a slower rate, while the manufacturing employment sub-index rose back into expansionary territory, printing 50.2 from 49.0 prior. On the manufacturing sector, ISM said companies were still struggling to meet labour-management plans, but noted some modest signs of progress compared to previous months: \"Less than 5% of comments noted improvements regarding employment, compared to none in August,\" it said, \"an overwhelming majority of panelists indicate their companies are hiring or attempting to hire,\" where around 85% of responses were about seeking additional staffing, while nearly half of the respondents expressed difficulty in filling positions, an increase from August. \"The increasing frequency of comments on turnover rates and retirements continued a trend that began in August,\" ISM said. Meanwhile, in the services sector, employment activity rose for a third straight month; respondents noted that employees were flocking to better-paying jobs and there was a lack of pipeline to replace these staff, while other respondents talked of labor shortages being experienced at all levels.\nARGUING FOR A BETTER-THAN-EXPECTED REPORT:\n\nEnd of federal enhanced unemployment beneﬁts. The expiration of federal beneﬁts in some states boosted labor supply and job-ﬁnding rates over the summer, and all remaining such programs expired on September 5. The July and August indicated a cumulative 6pp boost to job-ﬁnding probabilities from June to August for workers losing $300 top-up payments and a 12pp boost for workers losing all beneﬁts.Some of the 6mn workers who lost some or all beneﬁts on September 5 got a job by September 18—in time to be counted in tomorrow’s data.Goldman assumes a +200k boost to job growth from this channel, with a larger increase in subsequent reports (+1.3mn cumulatively by year end).\n\n\n\nSchool reopening. The largest 100 school districts are all open for in-person learning, catalyzing the return of many previously furloughed teachers and support staff. While full normalization of employment levels would contribute 600k jobs (mom sa, see left panel of the chart below), some janitors and support staff did not return due to hybrid teaching models, and job openings in the sector are only 200k above the pre-crisis level (see right panel). Relatedly, the BLS’s seasonal factors already embed the usual rehiring of education workers on summer layoff, so if fewer janitors returned to work than in a typical September, this would reduce seasonally adjusted job growth, other things equal. Taken together, assume a roughly 150k boost from the reopening of schools in tomorrow’s report.\n\n\n\nJob availability. The Conference Board labor differential—the difference between the percent of respondents saying jobs are plentiful and those saying jobs are hardto get - edged down to 42.5 from 44.4, still an elevated level. Additionally, JOLTS job openings increased by 749k in July to a new record high of 10.9mn.\nADP.Private sector employment in the ADP report increased by 568k in September, above consensus expectations for a 430k gain, implying strong growth in the underlying ADP sample. Additionally, schools generally do not use ADP payroll software, arguing for a larger gain from school reopening in the official payroll measure.\n\nARGUING FOR A WEAKER-THAN-EXPECTED REPORT:\n\nDelta variant.Rebounding covid infection rates weighed on services consumption and the labor market in August. And while US case counts began to decline in early September, restaurant seatings on Open Table rebounded only marginally. leisure and hospitality employment rose in September, but probably not at the ~400k monthly pace of June and July.\nEmployer surveys. The employment components of our business surveys were flat to down, whereas we and consensus forecast a pickup in job growth. Goldman's services survey employment tracker remained unchanged at 54.5 and the manufacturing survey employment tracker declined 0.4pt to 57.8. And while the Goldman Sachs Analyst Index (GSAI) decreased 0.8% to 68.5, the employment component rose1.9% to 71.9.\n\nNEUTRAL FACTORS:\n\nBig Data.High-frequency data on the labor market were mixed between the August and September survey weeks, on net providing little guidance about the underlying pace of job growth. Three of the five measures tracked indicate an at-or-above-consensus gain (Census Small Business Pulse +0.5mn, ADP +0.6mn,Google mobility +2mn), but the Homebase data was an outlier to the downside. At face value, it would indicate a large outright decline in payrolls. The Census Household Pulse (-0.6mn) was also quite weak, though encouragingly, it also indicated a large drop in childcare-related labor supply headwinds as schools reopened.\nSeasonality.The September seasonal hurdle is relatively low: the BLS adjustment factors generally assume a 600-700k decline in private payrolls (which exclude public schools), compared to around -100k on average in July and August. Continued labor shortages encouraged firms to lay off fewer workers at the end of summer. Partially offsetting this tailwind, the September seasonal factors may have evolved unfavorably due to the crisis—specifically by fitting to last September’s reopening-driven job surge (private payrolls +932k mom sa).\nJobless claims.Initial jobless claims fell during the September payroll month, averaging 339k per week vs. 378k in August despite a boost from individuals transitioning or attempting to transition to state programs. Across all employee programs including emergency benefits, continuing claims fell dramatically (-3.3mn)–but again for non-economic reasons (federal enhanced programs expired). Continuing claims in regular state programs decreased 106k from survey week to survey week.\nJob cuts.Announced layoffs reported by Challenger, Gray & Christmas rebounded 11% month-over-month in September after decreasing by 14% over the prior two months (SA by GS). Nonetheless, layoffs remain near the three-decade low on this measure (in 1993).","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":994,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829464101,"gmtCreate":1633534616490,"gmtModify":1633534667729,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/829464101","repostId":"2173091050","repostType":4,"isVote":1,"tweetType":1,"viewCount":827,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":867240147,"gmtCreate":1633277238926,"gmtModify":1633277239196,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/867240147","repostId":"1181558340","repostType":4,"repost":{"id":"1181558340","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":1633270535,"share":"https://www.laohu8.com/m/news/1181558340?lang=zh_CN&edition=full","pubTime":"2021-10-03 22:15","market":"us","language":"en","title":"Here is Top 20 S&P 500 winners in the third-quarter<blockquote>以下是第三季度标普500前20名获奖者</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181558340","media":"Tiger Newspress","summary":"The S&P 500 suffered worst month In September, but it still eked out a 0.2% gain for the third quart","content":"<p>The S&amp;P 500 suffered worst month In September, but it still eked out a 0.2% gain for the third quarter.</p><p><blockquote>标普500在9月份遭受了最糟糕的月份，但第三季度仍勉强上涨了0.2%。</blockquote></p><p> Lots&nbsp;of&nbsp;stocks’ gains for the year were offset by the September slump.But&nbsp;there&nbsp;are&nbsp;some&nbsp;stocks helped keep the market afloat .</p><p><blockquote>许多股票今年的涨幅被9月份的暴跌所抵消。但也有一些股票帮助市场保持了稳定。</blockquote></p><p> CNBC ranked the top performers in S&amp;P&nbsp;500 index for the&nbsp;third quarter using data from FactSet. The top 20 are dominated by lesser-known names in health care, technology and financials. Energy, the only sector to finish higher in September, made a small appearance.</p><p><blockquote>CNBC使用FactSet的数据对第三季度标准普尔500指数中表现最好的公司进行了排名。前20名由医疗保健、科技和金融领域鲜为人知的公司主导。能源是9月份唯一收高的板块，小幅亮相。</blockquote></p><p> Here are the biggest third-quarter winners in the S&amp;P 500:<img src=\"https://static.tigerbbs.com/dd6449e408f045d2210f515fa5677ab3\" tg-width=\"1048\" tg-height=\"1564\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/S/MRNA\">Moderna, Inc.</a> generated the highest return in the S&amp;P for the third quarter, about 60%, as Covid-19 vaccines continued being rolled out to more people and talk of a Covid booster shot evolved. The vaccine maker’s stock popped after it announced it would test a combined Covid and flu vaccine.</p><p><blockquote>以下是标普500第三季度最大的赢家：<a href=\"https://laohu8.com/S/MRNA\">莫德纳公司。</a>随着Covid-19疫苗继续向更多人推广以及有关Covid加强注射的讨论不断发展，第三季度在S&amp;P中产生了最高的回报率，约为60%。这家疫苗制造商宣布将测试新冠和流感联合疫苗后，其股价飙升。</blockquote></p><p> Also,&nbsp;Moderna is higher by a whopping 268% for the year.</p><p><blockquote>此外，Moderna今年的股价也上涨了268%。</blockquote></p><p> <a href=\"https://laohu8.com/S/PAYC\">Paycom Software, Inc.</a>&nbsp;is only up about 8% for the year. Still, the payroll services company generated the second-largest returns for the quarter, about 36%, as people began reentering the workforce. Government stimulus targeted at mid-market and small businesses helped the firm as well, according to Oppenheimer’s Brian Schwartz.</p><p><blockquote><a href=\"https://laohu8.com/S/PAYC\">Paycom软件公司。</a>今年仅增长了约8%。尽管如此，随着人们开始重新进入劳动力市场，这家薪资服务公司本季度的回报率仍位居第二，约为36%。奥本海默的布莱恩·施瓦茨表示，政府针对中端市场和小型企业的刺激措施也帮助了该公司。</blockquote></p><p> <a href=\"https://laohu8.com/S/MPWR\">Monolithic Power Systems</a> a high-performance analog semiconductor company, was up 29% for the quarter and about 32% for the year.</p><p><blockquote><a href=\"https://laohu8.com/S/MPWR\">单片电源系统</a>一家高性能模拟半导体公司，本季度增长29%，全年增长约32%。</blockquote></p><p> Quanta Services, a contracting services company, gained about 25% for the quarter. Stifel recently said the stock saw an impact from both lower oil prices and Covid-related shelter in place orders and that it anticipates some recovery in the market in the second half of the year.</p><p><blockquote>承包服务公司Quanta Services本季度股价上涨约25%。Stifel最近表示，该股受到油价下跌和与新冠疫情相关的避难所订单的影响，预计下半年市场将有所复苏。</blockquote></p><p> Oil prices dipped in the middle of the quarter but have been rallying since. While many of the top performers for the third quarter had a down month in September or eked out small gains, Quanta is up more than 11% for the month.</p><p><blockquote>油价在本季度中期下跌，但此后一直在上涨。尽管许多第三季度表现最好的公司在9月份出现了下滑或小幅上涨，但广达当月上涨了11%以上。</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>Here is Top 20 S&P 500 winners in the third-quarter<blockquote>以下是第三季度标普500前20名获奖者</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\">\nHere is Top 20 S&P 500 winners in the third-quarter<blockquote>以下是第三季度标普500前20名获奖者</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\">2021-10-03 22:15</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 suffered worst month In September, but it still eked out a 0.2% gain for the third quarter.</p><p><blockquote>标普500在9月份遭受了最糟糕的月份，但第三季度仍勉强上涨了0.2%。</blockquote></p><p> Lots&nbsp;of&nbsp;stocks’ gains for the year were offset by the September slump.But&nbsp;there&nbsp;are&nbsp;some&nbsp;stocks helped keep the market afloat .</p><p><blockquote>许多股票今年的涨幅被9月份的暴跌所抵消。但也有一些股票帮助市场保持了稳定。</blockquote></p><p> CNBC ranked the top performers in S&amp;P&nbsp;500 index for the&nbsp;third quarter using data from FactSet. The top 20 are dominated by lesser-known names in health care, technology and financials. Energy, the only sector to finish higher in September, made a small appearance.</p><p><blockquote>CNBC使用FactSet的数据对第三季度标准普尔500指数中表现最好的公司进行了排名。前20名由医疗保健、科技和金融领域鲜为人知的公司主导。能源是9月份唯一收高的板块，小幅亮相。</blockquote></p><p> Here are the biggest third-quarter winners in the S&amp;P 500:<img src=\"https://static.tigerbbs.com/dd6449e408f045d2210f515fa5677ab3\" tg-width=\"1048\" tg-height=\"1564\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/S/MRNA\">Moderna, Inc.</a> generated the highest return in the S&amp;P for the third quarter, about 60%, as Covid-19 vaccines continued being rolled out to more people and talk of a Covid booster shot evolved. The vaccine maker’s stock popped after it announced it would test a combined Covid and flu vaccine.</p><p><blockquote>以下是标普500第三季度最大的赢家：<a href=\"https://laohu8.com/S/MRNA\">莫德纳公司。</a>随着Covid-19疫苗继续向更多人推广以及有关Covid加强注射的讨论不断发展，第三季度在S&amp;P中产生了最高的回报率，约为60%。这家疫苗制造商宣布将测试新冠和流感联合疫苗后，其股价飙升。</blockquote></p><p> Also,&nbsp;Moderna is higher by a whopping 268% for the year.</p><p><blockquote>此外，Moderna今年的股价也上涨了268%。</blockquote></p><p> <a href=\"https://laohu8.com/S/PAYC\">Paycom Software, Inc.</a>&nbsp;is only up about 8% for the year. Still, the payroll services company generated the second-largest returns for the quarter, about 36%, as people began reentering the workforce. Government stimulus targeted at mid-market and small businesses helped the firm as well, according to Oppenheimer’s Brian Schwartz.</p><p><blockquote><a href=\"https://laohu8.com/S/PAYC\">Paycom软件公司。</a>今年仅增长了约8%。尽管如此，随着人们开始重新进入劳动力市场，这家薪资服务公司本季度的回报率仍位居第二，约为36%。奥本海默的布莱恩·施瓦茨表示，政府针对中端市场和小型企业的刺激措施也帮助了该公司。</blockquote></p><p> <a href=\"https://laohu8.com/S/MPWR\">Monolithic Power Systems</a> a high-performance analog semiconductor company, was up 29% for the quarter and about 32% for the year.</p><p><blockquote><a href=\"https://laohu8.com/S/MPWR\">单片电源系统</a>一家高性能模拟半导体公司，本季度增长29%，全年增长约32%。</blockquote></p><p> Quanta Services, a contracting services company, gained about 25% for the quarter. Stifel recently said the stock saw an impact from both lower oil prices and Covid-related shelter in place orders and that it anticipates some recovery in the market in the second half of the year.</p><p><blockquote>承包服务公司Quanta Services本季度股价上涨约25%。Stifel最近表示，该股受到油价下跌和与新冠疫情相关的避难所订单的影响，预计下半年市场将有所复苏。</blockquote></p><p> Oil prices dipped in the middle of the quarter but have been rallying since. While many of the top performers for the third quarter had a down month in September or eked out small gains, Quanta is up more than 11% for the month.</p><p><blockquote>油价在本季度中期下跌，但此后一直在上涨。尽管许多第三季度表现最好的公司在9月份出现了下滑或小幅上涨，但广达当月上涨了11%以上。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc.","PWR":"广达公司","PAYC":"Paycom Software, Inc.","MPWR":"Monolithic Power Systems"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181558340","content_text":"The S&P 500 suffered worst month In September, but it still eked out a 0.2% gain for the third quarter.\nLots of stocks’ gains for the year were offset by the September slump.But there are some stocks helped keep the market afloat .\nCNBC ranked the top performers in S&P 500 index for the third quarter using data from FactSet. The top 20 are dominated by lesser-known names in health care, technology and financials. Energy, the only sector to finish higher in September, made a small appearance.\nHere are the biggest third-quarter winners in the S&P 500:Moderna, Inc. generated the highest return in the S&P for the third quarter, about 60%, as Covid-19 vaccines continued being rolled out to more people and talk of a Covid booster shot evolved. The vaccine maker’s stock popped after it announced it would test a combined Covid and flu vaccine.\nAlso, Moderna is higher by a whopping 268% for the year.\nPaycom Software, Inc. is only up about 8% for the year. Still, the payroll services company generated the second-largest returns for the quarter, about 36%, as people began reentering the workforce. Government stimulus targeted at mid-market and small businesses helped the firm as well, according to Oppenheimer’s Brian Schwartz.\nMonolithic Power Systems a high-performance analog semiconductor company, was up 29% for the quarter and about 32% for the year.\nQuanta Services, a contracting services company, gained about 25% for the quarter. Stifel recently said the stock saw an impact from both lower oil prices and Covid-related shelter in place orders and that it anticipates some recovery in the market in the second half of the year.\nOil prices dipped in the middle of the quarter but have been rallying since. While many of the top performers for the third quarter had a down month in September or eked out small gains, Quanta is up more than 11% for the 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and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/836056027","repostId":"1121710129","repostType":4,"isVote":1,"tweetType":1,"viewCount":841,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145530941,"gmtCreate":1626228928783,"gmtModify":1631893854002,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/145530941","repostId":"2151560584","repostType":4,"isVote":1,"tweetType":1,"viewCount":447,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186868966,"gmtCreate":1623485268855,"gmtModify":1634032470658,"author":{"id":"3582162167824089","authorId":"3582162167824089","name":"superdog","avatar":"https://static.tigerbbs.com/c8e062396dbbe52dff9355f0ef3d100e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582162167824089","idStr":"3582162167824089"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/186868966","repostId":"1104635261","repostType":4,"repost":{"id":"1104635261","kind":"news","pubTimestamp":1623470020,"share":"https://www.laohu8.com/m/news/1104635261?lang=zh_CN&edition=full","pubTime":"2021-06-12 11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<p>  <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>  A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p><p><blockquote><b>Mudrick Capital的亏损显示了投资模因股票的风险。</b>本月，对AMC Entertainment HoldingsINC.AMC 15.39%的多管齐下的押注在Mudrick Capital Management LP上适得其反，Mudrick Capital Management LP是最新一家成为大量日内交易者受害者的对冲基金。</blockquote></p><p> Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p><p><blockquote>知情人士称，穆德里克的旗舰基金在短短几天内损失了约10%，因为AMC股价的上涨意外引发了该基金作为复杂交易策略一部分持有的衍生品价值的变化。</blockquote></p><p> The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p><p><blockquote>几个月前，一群在社交媒体上组织的交易员帮助GameStopCorp.GME5.88%和其他股票的价格在1月份飙升，远远超出了许多投资者对基本面的看法。</blockquote></p><p> The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p><p><blockquote>这一事态发展促使许多对冲基金削减了对模因股票的投资。Mudrick Capital的损失凸显了保留对此类公司的大量投资的风险有多大，甚至会对一位与个人投资者的看涨情绪基本同步的对冲基金经理产生适得其反的影响。</blockquote></p><p> Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p><p><blockquote>该公司创始人杰森·穆德里克(Jason Mudrick)几个月来一直在交易AMC股票、期权和债券，个人投资者对这家连锁影院的热情高涨。但他也出售了看涨期权期权，这是一种衍生品合约，旨在对冲该基金在股价下跌时对AMC的敞口。知情人士称，这些衍生品合约赋予买家未来以约40美元的价格从Mudrick购买AMC股票的权利，但当Reddit推动的购买热潮最近将AMC股票推至新纪录时，这些衍生品合约就变成了负债。</blockquote></p><p> As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p><p><blockquote>作为更广泛的AMC战略的一部分，Mudrick Capital的高管正在与AMC就购买该公司的额外股票进行谈判。6月1日，AMC披露，Mudrick Capital已同意以每股27.12美元的价格直接从该公司购买2.305亿美元的新股，高于当时的交易价格。</blockquote></p><p> Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p><p><blockquote>穆德里克立即出售了该股票并获利，彭博新闻报道了这一快速抛售，并在社交媒体上引发了强烈反对。</blockquote></p><p> “Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p><p><blockquote>6月1日，Reddit华尔街博彩论坛上的一篇帖子写道：“穆德里克没有在背后捅AMC一刀……他们是搬起石头砸自己的脚。”当时的其他帖子称穆德里克为“失败者”、“人渣”和“一大堆没有未来的挥舞着的S-T”。论坛成员互相催促买入并持有。</blockquote></p><p> Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p><p><blockquote>随着AMC反弹势头增强，穆德里克内部的高管们越来越感到担忧。该公司的风险委员会于6月1日晚在该股收于32美元后召开会议，并决定在第二天退出所有债务和衍生品头寸。</blockquote></p><p> It was a day too late.</p><p><blockquote>晚了一天。</blockquote></p><p> AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p><p><blockquote>6月2日，AMC股价在几个小时内突破40美元，触及72.62美元的盘中高点。在穆德里克资本促成的疯狂交易中，看涨期权期权价格飙升，到本周末，获胜的交易变成了失败，使该基金损失了数亿美元。Mudrick Capital出售的债务回报率约为5%，但考虑到期权交易后，该基金在AMC上的净亏损约为5.4%。</blockquote></p><p> Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p><p><blockquote>其中一位知情人士表示，穆德里克的基金今年仍上涨了约12%。与此同时，年初购买AMC股票并持有的投资者已上涨约2000%。</blockquote></p><p> The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p><p><blockquote>社交媒体推动的日内交易者的影响已成为今年市场的决定性发展，导致顶级对冲基金损失数十亿美元，引发国会听证会并受到美国证券交易委员会的审查。更多的对冲基金现在跟踪个人投资者在社交媒体上的情绪，更加关注市值较小的公司，这些公司的股价可能更容易受到个人投资者热情的影响。</blockquote></p><p> Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p><p><blockquote>穆德里克先生专门从事不良债务投资，经常以高利率向陷入困境的公司提供贷款，或者在破产法庭上将其现有债务换成股权。Mudrick管理着全公司约35亿美元的投资，并通过此类交易所持有电子烟制造商NJOY Holdings Inc.和卫星通信公司GlobalStarInc.的大量非流动性股份。汇丰另类投资集团的数据显示，2018年至2020年，该旗舰基金的年回报率约为17%。</blockquote></p><p> But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p><p><blockquote>但由于美联储的宽松资金甚至为陷入困境的公司提供了进入债务市场的机会，因此陷入困境的投资机会变得越来越难找到。穆德里克先生还探索了其他策略，成立了几家特殊目的收购公司，就AMC而言，最终通过大宗交易购买股票。</blockquote></p><p></p><p> Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p><p><blockquote>穆德里克最初将他的典型策略应用于AMC，以低至20美分的价格购买债券，在12月向该公司借出1亿美元，并将部分债券换成新股。在Covid-19大流行封锁期间，已经面临压力的影院上座率几乎完全消失，AMC股票交易价格低至2美元。他推断，随着越来越多的美国人接种疫苗，消费者今年将恢复对大屏幕娱乐的兴趣。</blockquote></p><p> Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p><p><blockquote>1月下旬，日内交易者首次在AMC进行了交易，在社交媒体上高呼#SaveAMC，并短暂将该股推升至20美元左右。AMC不断上涨的股票价值推高了债务价格——Mudrick Capital持有的一只债券在一周内翻了一番——很快就回报了Mudrick先生的看涨情绪。AMC利用其飙升的股价在1月底筹集了近10亿美元的新融资，使其能够避免此前预期的破产申请。</blockquote></p><p> Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p><p><blockquote>大约在那个时候，穆德里克先生出售了AMC股票的看涨期权期权，如果连锁影院确实面临问题，可以立即产生收入来抵消潜在的损失。这些衍生品让买家可以选择以约40美元的价格从Mudrick Capital购买AMC股票——当该股交易价格低于10美元时，这似乎不太可能。</blockquote></p><p> Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p><p><blockquote>穆德里克先生与AMC首席执行官亚当·阿伦(Adam Aron)就提供额外资金保持联系，导致他最近购买了股票。但一位知情人士表示，作为一项保险政策，他保留了衍生品合约。</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>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-06-12 11:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>  A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p><p><blockquote><b>Mudrick Capital的亏损显示了投资模因股票的风险。</b>本月，对AMC Entertainment HoldingsINC.AMC 15.39%的多管齐下的押注在Mudrick Capital Management LP上适得其反，Mudrick Capital Management LP是最新一家成为大量日内交易者受害者的对冲基金。</blockquote></p><p> Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p><p><blockquote>知情人士称，穆德里克的旗舰基金在短短几天内损失了约10%，因为AMC股价的上涨意外引发了该基金作为复杂交易策略一部分持有的衍生品价值的变化。</blockquote></p><p> The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p><p><blockquote>几个月前，一群在社交媒体上组织的交易员帮助GameStopCorp.GME5.88%和其他股票的价格在1月份飙升，远远超出了许多投资者对基本面的看法。</blockquote></p><p> The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p><p><blockquote>这一事态发展促使许多对冲基金削减了对模因股票的投资。Mudrick Capital的损失凸显了保留对此类公司的大量投资的风险有多大，甚至会对一位与个人投资者的看涨情绪基本同步的对冲基金经理产生适得其反的影响。</blockquote></p><p> Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p><p><blockquote>该公司创始人杰森·穆德里克(Jason Mudrick)几个月来一直在交易AMC股票、期权和债券，个人投资者对这家连锁影院的热情高涨。但他也出售了看涨期权期权，这是一种衍生品合约，旨在对冲该基金在股价下跌时对AMC的敞口。知情人士称，这些衍生品合约赋予买家未来以约40美元的价格从Mudrick购买AMC股票的权利，但当Reddit推动的购买热潮最近将AMC股票推至新纪录时，这些衍生品合约就变成了负债。</blockquote></p><p> As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p><p><blockquote>作为更广泛的AMC战略的一部分，Mudrick Capital的高管正在与AMC就购买该公司的额外股票进行谈判。6月1日，AMC披露，Mudrick Capital已同意以每股27.12美元的价格直接从该公司购买2.305亿美元的新股，高于当时的交易价格。</blockquote></p><p> Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p><p><blockquote>穆德里克立即出售了该股票并获利，彭博新闻报道了这一快速抛售，并在社交媒体上引发了强烈反对。</blockquote></p><p> “Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p><p><blockquote>6月1日，Reddit华尔街博彩论坛上的一篇帖子写道：“穆德里克没有在背后捅AMC一刀……他们是搬起石头砸自己的脚。”当时的其他帖子称穆德里克为“失败者”、“人渣”和“一大堆没有未来的挥舞着的S-T”。论坛成员互相催促买入并持有。</blockquote></p><p> Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p><p><blockquote>随着AMC反弹势头增强，穆德里克内部的高管们越来越感到担忧。该公司的风险委员会于6月1日晚在该股收于32美元后召开会议，并决定在第二天退出所有债务和衍生品头寸。</blockquote></p><p> It was a day too late.</p><p><blockquote>晚了一天。</blockquote></p><p> AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p><p><blockquote>6月2日，AMC股价在几个小时内突破40美元，触及72.62美元的盘中高点。在穆德里克资本促成的疯狂交易中，看涨期权期权价格飙升，到本周末，获胜的交易变成了失败，使该基金损失了数亿美元。Mudrick Capital出售的债务回报率约为5%，但考虑到期权交易后，该基金在AMC上的净亏损约为5.4%。</blockquote></p><p> Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p><p><blockquote>其中一位知情人士表示，穆德里克的基金今年仍上涨了约12%。与此同时，年初购买AMC股票并持有的投资者已上涨约2000%。</blockquote></p><p> The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p><p><blockquote>社交媒体推动的日内交易者的影响已成为今年市场的决定性发展，导致顶级对冲基金损失数十亿美元，引发国会听证会并受到美国证券交易委员会的审查。更多的对冲基金现在跟踪个人投资者在社交媒体上的情绪，更加关注市值较小的公司，这些公司的股价可能更容易受到个人投资者热情的影响。</blockquote></p><p> Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p><p><blockquote>穆德里克先生专门从事不良债务投资，经常以高利率向陷入困境的公司提供贷款，或者在破产法庭上将其现有债务换成股权。Mudrick管理着全公司约35亿美元的投资，并通过此类交易所持有电子烟制造商NJOY Holdings Inc.和卫星通信公司GlobalStarInc.的大量非流动性股份。汇丰另类投资集团的数据显示，2018年至2020年，该旗舰基金的年回报率约为17%。</blockquote></p><p> But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p><p><blockquote>但由于美联储的宽松资金甚至为陷入困境的公司提供了进入债务市场的机会，因此陷入困境的投资机会变得越来越难找到。穆德里克先生还探索了其他策略，成立了几家特殊目的收购公司，就AMC而言，最终通过大宗交易购买股票。</blockquote></p><p></p><p> Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p><p><blockquote>穆德里克最初将他的典型策略应用于AMC，以低至20美分的价格购买债券，在12月向该公司借出1亿美元，并将部分债券换成新股。在Covid-19大流行封锁期间，已经面临压力的影院上座率几乎完全消失，AMC股票交易价格低至2美元。他推断，随着越来越多的美国人接种疫苗，消费者今年将恢复对大屏幕娱乐的兴趣。</blockquote></p><p> Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p><p><blockquote>1月下旬，日内交易者首次在AMC进行了交易，在社交媒体上高呼#SaveAMC，并短暂将该股推升至20美元左右。AMC不断上涨的股票价值推高了债务价格——Mudrick Capital持有的一只债券在一周内翻了一番——很快就回报了Mudrick先生的看涨情绪。AMC利用其飙升的股价在1月底筹集了近10亿美元的新融资，使其能够避免此前预期的破产申请。</blockquote></p><p> Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p><p><blockquote>大约在那个时候，穆德里克先生出售了AMC股票的看涨期权期权，如果连锁影院确实面临问题，可以立即产生收入来抵消潜在的损失。这些衍生品让买家可以选择以约40美元的价格从Mudrick Capital购买AMC股票——当该股交易价格低于10美元时，这似乎不太可能。</blockquote></p><p> Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p><p><blockquote>穆德里克先生与AMC首席执行官亚当·阿伦(Adam Aron)就提供额外资金保持联系，导致他最近购买了股票。但一位知情人士表示，作为一项保险政策，他保留了衍生品合约。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}