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JadynY

JadynY

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2021-08-14

like & comment pls [Smile]

Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote>

2021-08-07

good reading

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2021-08-10

like & comment

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2021-07-26

[Cool]

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2021-08-14

good reading

Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote>

2021-08-11

like comment

Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>

2021-07-28

good to follow [Happy]

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2021-07-10

watchlist！

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2021-07-23

watchlist updated [Happy]

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2021-07-21

let keep watch… [Miser]

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sharing&nbsp;","listText":"good sharing&nbsp;","text":"good sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897403744","repostId":"2158025081","repostType":4,"isVote":1,"tweetType":1,"viewCount":1734,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897403613,"gmtCreate":1628952433932,"gmtModify":1631885721606,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"good reading&nbsp;","listText":"good reading&nbsp;","text":"good reading","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/897403613","repostId":"1149823415","repostType":4,"repost":{"id":"1149823415","kind":"news","pubTimestamp":1628909753,"share":"https://www.laohu8.com/m/news/1149823415?lang=zh_CN&edition=full","pubTime":"2021-08-14 10:55","market":"us","language":"en","title":"Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149823415","media":"seekingalpha","summary":"Summary\n\nVirgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"d","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Virgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.</li>  <li>However, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.</li>  <li>We would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.</li>  <li>Lastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00922c9874a28954c08c613b8dbf378b\" tg-width=\"768\" tg-height=\"493\" width=\"100%\" height=\"auto\"><span>Nastco/iStock via Getty Images</span></p><p><blockquote><ul><li>由于市场对影响其私人商业收入服务推出的“延迟”感到失望，维珍银河财报后下跌超过30%。</li><li>然而，我们认为该公司的“延迟”对于纠正供应限制并满足该公司正在经历的巨大需求是必要的。</li><li>我们还将详细讨论公司的长期机遇和威胁，以及投资者未来需要监控的内容。</li><li>最后，我们为正在考虑增加维珍银河投资的长期投资者提出了我们的估值论点。</li></ul><p class=\"t-img-caption\"><span>Nastco/iStock来自Getty Images</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Back in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.</p><p><blockquote>早在5月份，当我们发表关于维珍银河(SPCE)的上一篇文章（链接到本文所附文章）时，我们明确强调，我们认为华尔街的共识对维珍银河的收入预测过于乐观，因为我们认为这些预测夸大了市场根据我们咨询多个来源的研究，未来10年亚轨道太空旅游的机会在很大程度上，我们提交了修订后的预测。</blockquote></p><p> Since then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from&nbsp;late Q3'CY22.</p><p><blockquote>此后，华尔街日报下调了近期预测，因为该公司最近表示，他们预计仅从2022年第三季度末开始提供商业服务。</blockquote></p><p> This article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.</p><p><blockquote>本文将讨论导致维珍银河“延迟”发射的情况、长期机遇以及维珍在亚轨道太空旅游领域寻求领导地位所面临的竞争威胁。</blockquote></p><p> Lastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.</p><p><blockquote>最后，我们将为目前考虑增加该股投资的长期投资者提出我们的估值论点。</blockquote></p><p> <b>Revisions to Virgin Galactic's Mean Consensus Estimates</b></p><p><blockquote><b>对维珍银河平均共识估计的修正</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e15e65a740bf4a03405cd6f31e82bfc\" tg-width=\"640\" tg-height=\"396\" width=\"100%\" height=\"auto\"><span>May's consensus revenue estimates &amp; Aug's consensus revenue estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>5月份的普遍收入估计和8月份的普遍收入估计。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/149d99203d29b3a3e785096ccc509c57\" tg-width=\"600\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Scale of revised estimates (Between May and Aug estimates). Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>修订估计数的规模（5月至8月估计数之间）。数据来源：标普资本智商</span></p></blockquote></p><p> Investors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.</p><p><blockquote>投资者应该能够清楚地收集到，近期共识预期较5月份影响21年至25年的预测有所下调。然而，我们认为投资者需要注意的是，华尔街从CY26大幅上调了其预期，以反映SPCE在最近的盈利看涨期权中强调的强劲需求，我们认为这表明了该公司对强劲收入跑道的信心长期，我们将在后续章节中详细讨论。</blockquote></p><p> <b>Private Commercial Full Revenue Service is Expected from Q3'CY22</b></p><p><blockquote><b>私人商业全收入服务预计从2022年第三季度开始</b></blockquote></p><p> SPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.</p><p><blockquote>自8月5日发布财报以来，SPCE的价值已下跌约33%，我们认为这主要是由于VSS Unity和VSS Unity拟议的关键增强功能导致其商业服务推出“延迟”而带来的近期阻力。母舰VMS Eve将显着增加飞行和维护之间的周转时间。</blockquote></p><p> As a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.</p><p><blockquote>由于Unity 23与意大利空军的创收飞行完成后将进行的增强，该公司预计仅从2022年第三季度末开始其私人商业全面收入服务，我们认为这可能会让投资者大吃一惊，因为虽然市场预计全面商业服务将于2022年开始，但他们预计不会晚于第三季度。</blockquote></p><p> However, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:</p><p><blockquote>然而，我们认为市场再次选择关注近期收入服务延迟带来的不确定性，而忽视了预计将显着改善VMS Eve周转时间的增强功能的重要性，以至于维珍银河强调：</blockquote></p><p>   These enhancements  <i>could potentially allow Eve to fly 100 flights between major maintenance inspections</i>. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.  In addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"</p><p><blockquote>这些增强功能<i>可能允许Eve在主要维护检查之间飞行100次航班</i>这比今天主要检查之间的10个航班间隔有所增加。在早期商业服务期间，当我们正在制造更多母舰时，这将是一个非常重要的成功因素。此外，该公司还强调，随着这些改进，该公司还“目标是减少Unity航班之间的周转航班，时间从VSS Unity的7至8周。”</blockquote></p><p></p><p> The Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"</p><p><blockquote>华尔街和市场当然对这一消息感到失望，因为分析师下调了近期预测并下调了评级，摩根士丹利还强调：“在这个繁重的维护期间，维珍银河在2022年夏季之前都无法进行任何太空飞行。”</blockquote></p><p> Sure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:</p><p><blockquote>当然，没有航班。我们当然不担心，因为该公司重申了这些增强功能的重要性：</blockquote></p><p>   These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and  <i>that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today</i>.\"  If investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:</p><p><blockquote>这些都是对Eve相当稳健的修改。但是，我们为Eve的增强期增加范围和时间的原因是，在此增强期之后，我们将从Eve获得的飞行率是我们计划建立的。在主要检查和我们现在所做的之间，这几乎是10倍。这将使我们能够更频繁地飞行Eve，并且<i>这对我们未来的第一批宇航员以及我们将从今天开始报名的人来说非常重要</i>.“如果投资者能够清楚地收集该公司在上述句子中使用的语言，那么该公司显然这样做是因为他们预计对其太空飞行服务的需求如此强劲，我们认为这可能超出了该公司最初的计划。因此，虽然最近与理查德·布兰森爵士举行的发布会在很大程度上被视为一次重大的公关妙招，但它无疑让该公司能够衡量感兴趣的客户的反应，并且该公司明确表示，他们看到了如此强劲的需求，因此需要开放正如首席执行官迈克尔·科尔格拉齐尔(Michael Colglazier)所阐明的那样，尽快列出优先事项清单：</blockquote></p><p>   Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.  We are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).</p><p><blockquote>利用我们在网站上看到的巨大需求，我很高兴地宣布，我们将很快为希望成为下一个的未来太空旅行者开放一个优先名单。在我们的太空人转换过程结束后，我们将首先向这个列表提供任何可用的库存。该名单的注册将很快在我们的网站上提供...我们对整个潜在市场充满信心，对[理查德·布兰森爵士]Unity 22的反应就表明了这一点。所以我们不会全部吸收，但我们确实认为我们可以在这里向前迈出一大步。我们不确定市场和其他投资者的想法。尽管如此，该公司仍需要找到一种方法来应对供应明显严重受限的情况下的需求。他们在短期内会做的下一件最好的事情是对VMS Eve和VSS Unity进行必要的修改，以确保这些高价值的潜在客户不会去敲杰夫·贝索斯蓝色起源(BORGN)的门。</blockquote></p><p> <b>Are There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?</b></p><p><blockquote><b>真的有那么多迫不及待想上VSS Unity的客户吗？</b></blockquote></p><p> Yes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket&nbsp;holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"</p><p><blockquote>是的，想到该公司期待这么多迫不及待地加入的客户，真是令人难以置信。风险投资公司Hemisphere Ventures的管理合伙人丽莎·里奇(Lisa Rich)明确表示：“……这些年来，我遇到了很多维珍（银河）的持票人。顺便说一句，他们每个人都告诉我，由于他们多年来分享的经历，他们花在等待上的25万美元已经收回了10倍。”</blockquote></p><p> Investors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"</p><p><blockquote>投资者应该清楚地了解，多年来，由600名致力于维珍银河飞行服务的未来宇航员组成的社区形成了一个紧密团结的团体，正如该公司所强调的那样：“我认为在现有的未来宇航员之外可能不为人所知的一件事是维珍银河的秘密武器之一，那就是我们的宇航员办公室。这是一群人，他们将这600人聚集成了一个真正的社区。”</blockquote></p><p> The company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"</p><p><blockquote>该公司强调，这些客户真正重视实现飞行体验的旅程，因为这些客户认为这是一次“人生过渡之旅”。他们看到了维珍银河所做的事情的巨大价值，以至于该公司强调，他们的客户认为加入该公司汇集的社区是“首要考虑的[优先事项]并且非常强大”。</blockquote></p><p> Importantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.</p><p><blockquote>重要的是，该公司还强调，他们已经向通过该公司“一小步”计划注册的1000多名“宇航员”社区开放了门票销售，每个座位的价格从45万美元起，远高于最初600名未来宇航员注册的每个座位20万至25万美元。</blockquote></p><p></p><p> Virgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience<b><i>.</i></b>And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"</p><p><blockquote>维珍银河认为，这些未来的宇航员将成为公司的“销售大使”，因为他们拥有该公司煞费苦心建立的强大而紧密的宇航员社区的经验：“……所以我认为你可以从几个方面来思考终身价值。其中之一是当人们从未来的宇航员毕业生进入宇航员社区时，我认为他们会回来，我认为人们分享这些经验是非常自然的<b><i>.</i></b>我认为他们分享这段经历不仅会让人们说这是多么美妙，还会给人类航天的概念带来常态。因此，当我们将这群人引入时，他们的终身价值是全面的需求，并在他们走出去分享他们所做的事情时继续增加总的潜在市场。”</blockquote></p><p> <b>Strong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage</b></p><p><blockquote><b>强劲的需求证明快速扩大规模以实现强劲的运营杠杆是合理的</b></blockquote></p><p> Astute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.</p><p><blockquote>精明的投资者会清楚地认识到，如果该公司仅依靠VSS Unity或VSS Imagine机队来主导亚轨道太空旅游市场，这在很大程度上是不够的。</blockquote></p><p> Based on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.</p><p><blockquote>根据该公司的指导和华尔街的估计，如果不对VMS Eve进行修改，该公司最初的600名未来宇航员社区的工作至少需要几年时间。</blockquote></p><p> The initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.</p><p><blockquote>2022年的初始节奏（修改前）是最多10个收入航班，总共60名乘客。到2023年，该公司每年最多只能飞行24至36次航班，这将允许他们最多飞行144至216名宇航员。因此，到2025年，维珍银河可能至少还需要2年时间才能开始处理1000名宇航员社区的订单，我们认为到那时，至少其中一些人会去蓝色起源。因此，最初的节奏真的不起作用，特别是该公司准备很快为Unity 22公关活动产生的兴趣制定优先列表，他们需要快速完成1600名未来宇航员的工作，这在短期内将通过Eve的修改来解决，因为它允许SPCE在主要检查之间多飞行10倍。</blockquote></p><p> However, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.</p><p><blockquote>然而，该公司仍然认为这仍然不足以满足他们所经历的需求水平。因此，他们宣布将制造下一代Delta级车辆，“能够每隔一周启动一次”。随着时间的推移，此类船舶预计将构成该公司未来运力的大部分。</blockquote></p><p> Part of the reason that the company needed to raise the&nbsp;$500M equity&nbsp;offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.</p><p><blockquote>该公司最近需要筹集5亿美元股票发行的部分原因是，他们已准备好开始开发和制造Delta级车辆，这将非常有助于满足其长期产能和节奏，VSS Unity和VSS想象永远无法充分满足。</blockquote></p><p> Crucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"</p><p><blockquote>至关重要的是，该公司强调，通过提高达美级的产量和产能，他们将能够实现显著的运营杠杆，正如维珍银河强调的那样：“...这就是为什么我们如此专注于用下一代母舰获得达美级。这是我们真正获得效率的地方。这是我们获得规模的地方。这是你真正看到流通的地方，因为我们将有一个固定的成本基础，便于我们沟通，也便于我们在未来为效率做出贡献。”</blockquote></p><p> <b>Competing Against Blue Origin</b></p><p><blockquote><b>与蓝色起源竞争</b></blockquote></p><p> We think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.</p><p><blockquote>我们认为运营杠杆将成为这里的游戏名称，维珍银河清楚地认识到，对于该公司来说，以其需求驱动因素所证明的足够规模运营以与蓝色起源进行强有力的竞争至关重要。</blockquote></p><p> While we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture&nbsp;and the technology we have chosen is complete overkill for a suborbital tourism mission.”</p><p><blockquote>虽然我们不认为蓝色起源的主要游戏是亚轨道太空旅游，但正如杰夫·贝索斯之前也强调的那样：“我们选择的架构和技术对于亚轨道旅游任务来说完全是矫枉过正。”</blockquote></p><p> We think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"</p><p><blockquote>我们认为蓝色起源的主要市场肯定超出了亚轨道太空旅游，摩根士丹利强调，“贝佐斯先生的公司正在太空市场寻求业务，假设技术快速发展，到2040年，太空市场的规模将扩大两倍，年销售额将超过1万亿美元。实现例行登月、小行星采矿和太空旅游。”</blockquote></p><p> Therefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.</p><p><blockquote>因此，虽然蓝色起源专注于建立其太空殖民地的长期愿景，但我们认为他们肯定能够快速提高产量并获得显着的运营杠杆。关键是这些优势如何在短期内转化为其亚轨道太空旅游领域，这将是决定维珍银河领导地位的关键。</blockquote></p><p></p><p> One thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.</p><p><blockquote>有一件事是肯定的。两家公司预计，随着生产规模的扩大和技术的改进，亚轨道太空旅游门票的价格将随着时间的推移大幅下降。因此，维珍银河在这个市场中的领导地位和生存的关键是尽快获得运营杠杆以建立这些优势，而蓝色起源则忙于其整个领域的各种项目。</blockquote></p><p> Virgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.</p><p><blockquote>维珍银河希望让亚轨道太空旅游变得更加容易，而实现这一目标的关键是通过提高产量实现的运营杠杆来降低价格。因此，我们认为该公司的达美级计划对于维珍银河对抗蓝色起源的领导地位至关重要，并强烈鼓励投资者密切关注这些计划。</blockquote></p><p> <b>Free Cash Flow Forecast &amp; Valuations</b></p><p><blockquote><b>自由现金流预测和估值</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48be5e8da375fdc72591e31b96a223f4\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>EBITDA margin forecast &amp; CapEx margin forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EBITDA利润率预测和资本支出利润率预测。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57509b52b1c0ac46a44e7a0dd619bd97\" tg-width=\"640\" tg-height=\"361\" width=\"100%\" height=\"auto\"><span>EV / Fwd EBITDA trend. Data Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd EBITDA趋势。数据来源：标普资本智商</span></p></blockquote></p><p> Despite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.</p><p><blockquote>尽管全面收入服务的推出推迟到22年第三季度，但华尔街预计该公司将从2024财年末开始实现自由现金流盈利。我们认为这很重要，因为它展示了公司业务在这个市场的长期现金流潜力，目前只有BORGN和SPCE是明显的领导者。</blockquote></p><p> However, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.</p><p><blockquote>然而，到2030年底，估值看起来仍然昂贵，为18.5倍，比航空航天和国防同行13.61倍的平均水平高出36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1084f3186f9732fad8d28b824c65de2a\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"><span>Street's mean price target. Source: TIKR</span></p><p><blockquote><p class=\"t-img-caption\"><span>Street的平均目标价。来源：TIKR</span></p></blockquote></p><p> The Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.</p><p><blockquote>华尔街也不太乐观，平均目标价为35.55美元，仅比上一收盘价高出13.5%，因为分析师关注SPCE将其收入服务转移到2022年第三季度的近期“阻力”，我们认为这对其长期竞争优势非常重要。</blockquote></p><p> While we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.</p><p><blockquote>虽然我们对该公司的长期前景以及将亚轨道太空旅游带给世界的雄心感到非常兴奋，但我们对维珍银河看似昂贵的估值并不那么确定。</blockquote></p><p> <b>SPCE Stock Price Action and Trend Analysis</b></p><p><blockquote><b>SPCE股价走势及趋势分析</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f872b3e8670eac6d5ca4d8afce15200\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> While we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.</p><p><blockquote>虽然鉴于SPCE的估值昂贵，我们认为SPCE不适合长期投资者，但我们认为头寸交易者仍可能发现该股潜伏的机会。</blockquote></p><p> SPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.</p><p><blockquote>SPCE在50周移动平均线动态支撑位上受到强有力的支撑，该支撑位自2020年以来一直保持强劲，包括最近5月份出现的下行错误突破（熊市陷阱）。因此，我们希望，一旦价格走势在未来几周内自行解决，热衷于交易该股票的头寸交易者可能会找到机会。</blockquote></p><p> In summary, we assign a neutral rating to SPCE for long-term investors.</p><p><blockquote>综上所述，我们为长期投资者给予SPCE中性评级。</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>Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhere Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-14 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Virgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.</li>  <li>However, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.</li>  <li>We would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.</li>  <li>Lastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00922c9874a28954c08c613b8dbf378b\" tg-width=\"768\" tg-height=\"493\" width=\"100%\" height=\"auto\"><span>Nastco/iStock via Getty Images</span></p><p><blockquote><ul><li>由于市场对影响其私人商业收入服务推出的“延迟”感到失望，维珍银河财报后下跌超过30%。</li><li>然而，我们认为该公司的“延迟”对于纠正供应限制并满足该公司正在经历的巨大需求是必要的。</li><li>我们还将详细讨论公司的长期机遇和威胁，以及投资者未来需要监控的内容。</li><li>最后，我们为正在考虑增加维珍银河投资的长期投资者提出了我们的估值论点。</li></ul><p class=\"t-img-caption\"><span>Nastco/iStock来自Getty Images</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Back in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.</p><p><blockquote>早在5月份，当我们发表关于维珍银河(SPCE)的上一篇文章（链接到本文所附文章）时，我们明确强调，我们认为华尔街的共识对维珍银河的收入预测过于乐观，因为我们认为这些预测夸大了市场根据我们咨询多个来源的研究，未来10年亚轨道太空旅游的机会在很大程度上，我们提交了修订后的预测。</blockquote></p><p> Since then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from&nbsp;late Q3'CY22.</p><p><blockquote>此后，华尔街日报下调了近期预测，因为该公司最近表示，他们预计仅从2022年第三季度末开始提供商业服务。</blockquote></p><p> This article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.</p><p><blockquote>本文将讨论导致维珍银河“延迟”发射的情况、长期机遇以及维珍在亚轨道太空旅游领域寻求领导地位所面临的竞争威胁。</blockquote></p><p> Lastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.</p><p><blockquote>最后，我们将为目前考虑增加该股投资的长期投资者提出我们的估值论点。</blockquote></p><p> <b>Revisions to Virgin Galactic's Mean Consensus Estimates</b></p><p><blockquote><b>对维珍银河平均共识估计的修正</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e15e65a740bf4a03405cd6f31e82bfc\" tg-width=\"640\" tg-height=\"396\" width=\"100%\" height=\"auto\"><span>May's consensus revenue estimates &amp; Aug's consensus revenue estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>5月份的普遍收入估计和8月份的普遍收入估计。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/149d99203d29b3a3e785096ccc509c57\" tg-width=\"600\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Scale of revised estimates (Between May and Aug estimates). Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>修订估计数的规模（5月至8月估计数之间）。数据来源：标普资本智商</span></p></blockquote></p><p> Investors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.</p><p><blockquote>投资者应该能够清楚地收集到，近期共识预期较5月份影响21年至25年的预测有所下调。然而，我们认为投资者需要注意的是，华尔街从CY26大幅上调了其预期，以反映SPCE在最近的盈利看涨期权中强调的强劲需求，我们认为这表明了该公司对强劲收入跑道的信心长期，我们将在后续章节中详细讨论。</blockquote></p><p> <b>Private Commercial Full Revenue Service is Expected from Q3'CY22</b></p><p><blockquote><b>私人商业全收入服务预计从2022年第三季度开始</b></blockquote></p><p> SPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.</p><p><blockquote>自8月5日发布财报以来，SPCE的价值已下跌约33%，我们认为这主要是由于VSS Unity和VSS Unity拟议的关键增强功能导致其商业服务推出“延迟”而带来的近期阻力。母舰VMS Eve将显着增加飞行和维护之间的周转时间。</blockquote></p><p> As a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.</p><p><blockquote>由于Unity 23与意大利空军的创收飞行完成后将进行的增强，该公司预计仅从2022年第三季度末开始其私人商业全面收入服务，我们认为这可能会让投资者大吃一惊，因为虽然市场预计全面商业服务将于2022年开始，但他们预计不会晚于第三季度。</blockquote></p><p> However, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:</p><p><blockquote>然而，我们认为市场再次选择关注近期收入服务延迟带来的不确定性，而忽视了预计将显着改善VMS Eve周转时间的增强功能的重要性，以至于维珍银河强调：</blockquote></p><p>   These enhancements  <i>could potentially allow Eve to fly 100 flights between major maintenance inspections</i>. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.  In addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"</p><p><blockquote>这些增强功能<i>可能允许Eve在主要维护检查之间飞行100次航班</i>这比今天主要检查之间的10个航班间隔有所增加。在早期商业服务期间，当我们正在制造更多母舰时，这将是一个非常重要的成功因素。此外，该公司还强调，随着这些改进，该公司还“目标是减少Unity航班之间的周转航班，时间从VSS Unity的7至8周。”</blockquote></p><p></p><p> The Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"</p><p><blockquote>华尔街和市场当然对这一消息感到失望，因为分析师下调了近期预测并下调了评级，摩根士丹利还强调：“在这个繁重的维护期间，维珍银河在2022年夏季之前都无法进行任何太空飞行。”</blockquote></p><p> Sure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:</p><p><blockquote>当然，没有航班。我们当然不担心，因为该公司重申了这些增强功能的重要性：</blockquote></p><p>   These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and  <i>that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today</i>.\"  If investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:</p><p><blockquote>这些都是对Eve相当稳健的修改。但是，我们为Eve的增强期增加范围和时间的原因是，在此增强期之后，我们将从Eve获得的飞行率是我们计划建立的。在主要检查和我们现在所做的之间，这几乎是10倍。这将使我们能够更频繁地飞行Eve，并且<i>这对我们未来的第一批宇航员以及我们将从今天开始报名的人来说非常重要</i>.“如果投资者能够清楚地收集该公司在上述句子中使用的语言，那么该公司显然这样做是因为他们预计对其太空飞行服务的需求如此强劲，我们认为这可能超出了该公司最初的计划。因此，虽然最近与理查德·布兰森爵士举行的发布会在很大程度上被视为一次重大的公关妙招，但它无疑让该公司能够衡量感兴趣的客户的反应，并且该公司明确表示，他们看到了如此强劲的需求，因此需要开放正如首席执行官迈克尔·科尔格拉齐尔(Michael Colglazier)所阐明的那样，尽快列出优先事项清单：</blockquote></p><p>   Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.  We are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).</p><p><blockquote>利用我们在网站上看到的巨大需求，我很高兴地宣布，我们将很快为希望成为下一个的未来太空旅行者开放一个优先名单。在我们的太空人转换过程结束后，我们将首先向这个列表提供任何可用的库存。该名单的注册将很快在我们的网站上提供...我们对整个潜在市场充满信心，对[理查德·布兰森爵士]Unity 22的反应就表明了这一点。所以我们不会全部吸收，但我们确实认为我们可以在这里向前迈出一大步。我们不确定市场和其他投资者的想法。尽管如此，该公司仍需要找到一种方法来应对供应明显严重受限的情况下的需求。他们在短期内会做的下一件最好的事情是对VMS Eve和VSS Unity进行必要的修改，以确保这些高价值的潜在客户不会去敲杰夫·贝索斯蓝色起源(BORGN)的门。</blockquote></p><p> <b>Are There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?</b></p><p><blockquote><b>真的有那么多迫不及待想上VSS Unity的客户吗？</b></blockquote></p><p> Yes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket&nbsp;holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"</p><p><blockquote>是的，想到该公司期待这么多迫不及待地加入的客户，真是令人难以置信。风险投资公司Hemisphere Ventures的管理合伙人丽莎·里奇(Lisa Rich)明确表示：“……这些年来，我遇到了很多维珍（银河）的持票人。顺便说一句，他们每个人都告诉我，由于他们多年来分享的经历，他们花在等待上的25万美元已经收回了10倍。”</blockquote></p><p> Investors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"</p><p><blockquote>投资者应该清楚地了解，多年来，由600名致力于维珍银河飞行服务的未来宇航员组成的社区形成了一个紧密团结的团体，正如该公司所强调的那样：“我认为在现有的未来宇航员之外可能不为人所知的一件事是维珍银河的秘密武器之一，那就是我们的宇航员办公室。这是一群人，他们将这600人聚集成了一个真正的社区。”</blockquote></p><p> The company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"</p><p><blockquote>该公司强调，这些客户真正重视实现飞行体验的旅程，因为这些客户认为这是一次“人生过渡之旅”。他们看到了维珍银河所做的事情的巨大价值，以至于该公司强调，他们的客户认为加入该公司汇集的社区是“首要考虑的[优先事项]并且非常强大”。</blockquote></p><p> Importantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.</p><p><blockquote>重要的是，该公司还强调，他们已经向通过该公司“一小步”计划注册的1000多名“宇航员”社区开放了门票销售，每个座位的价格从45万美元起，远高于最初600名未来宇航员注册的每个座位20万至25万美元。</blockquote></p><p></p><p> Virgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience<b><i>.</i></b>And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"</p><p><blockquote>维珍银河认为，这些未来的宇航员将成为公司的“销售大使”，因为他们拥有该公司煞费苦心建立的强大而紧密的宇航员社区的经验：“……所以我认为你可以从几个方面来思考终身价值。其中之一是当人们从未来的宇航员毕业生进入宇航员社区时，我认为他们会回来，我认为人们分享这些经验是非常自然的<b><i>.</i></b>我认为他们分享这段经历不仅会让人们说这是多么美妙，还会给人类航天的概念带来常态。因此，当我们将这群人引入时，他们的终身价值是全面的需求，并在他们走出去分享他们所做的事情时继续增加总的潜在市场。”</blockquote></p><p> <b>Strong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage</b></p><p><blockquote><b>强劲的需求证明快速扩大规模以实现强劲的运营杠杆是合理的</b></blockquote></p><p> Astute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.</p><p><blockquote>精明的投资者会清楚地认识到，如果该公司仅依靠VSS Unity或VSS Imagine机队来主导亚轨道太空旅游市场，这在很大程度上是不够的。</blockquote></p><p> Based on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.</p><p><blockquote>根据该公司的指导和华尔街的估计，如果不对VMS Eve进行修改，该公司最初的600名未来宇航员社区的工作至少需要几年时间。</blockquote></p><p> The initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.</p><p><blockquote>2022年的初始节奏（修改前）是最多10个收入航班，总共60名乘客。到2023年，该公司每年最多只能飞行24至36次航班，这将允许他们最多飞行144至216名宇航员。因此，到2025年，维珍银河可能至少还需要2年时间才能开始处理1000名宇航员社区的订单，我们认为到那时，至少其中一些人会去蓝色起源。因此，最初的节奏真的不起作用，特别是该公司准备很快为Unity 22公关活动产生的兴趣制定优先列表，他们需要快速完成1600名未来宇航员的工作，这在短期内将通过Eve的修改来解决，因为它允许SPCE在主要检查之间多飞行10倍。</blockquote></p><p> However, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.</p><p><blockquote>然而，该公司仍然认为这仍然不足以满足他们所经历的需求水平。因此，他们宣布将制造下一代Delta级车辆，“能够每隔一周启动一次”。随着时间的推移，此类船舶预计将构成该公司未来运力的大部分。</blockquote></p><p> Part of the reason that the company needed to raise the&nbsp;$500M equity&nbsp;offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.</p><p><blockquote>该公司最近需要筹集5亿美元股票发行的部分原因是，他们已准备好开始开发和制造Delta级车辆，这将非常有助于满足其长期产能和节奏，VSS Unity和VSS想象永远无法充分满足。</blockquote></p><p> Crucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"</p><p><blockquote>至关重要的是，该公司强调，通过提高达美级的产量和产能，他们将能够实现显著的运营杠杆，正如维珍银河强调的那样：“...这就是为什么我们如此专注于用下一代母舰获得达美级。这是我们真正获得效率的地方。这是我们获得规模的地方。这是你真正看到流通的地方，因为我们将有一个固定的成本基础，便于我们沟通，也便于我们在未来为效率做出贡献。”</blockquote></p><p> <b>Competing Against Blue Origin</b></p><p><blockquote><b>与蓝色起源竞争</b></blockquote></p><p> We think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.</p><p><blockquote>我们认为运营杠杆将成为这里的游戏名称，维珍银河清楚地认识到，对于该公司来说，以其需求驱动因素所证明的足够规模运营以与蓝色起源进行强有力的竞争至关重要。</blockquote></p><p> While we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture&nbsp;and the technology we have chosen is complete overkill for a suborbital tourism mission.”</p><p><blockquote>虽然我们不认为蓝色起源的主要游戏是亚轨道太空旅游，但正如杰夫·贝索斯之前也强调的那样：“我们选择的架构和技术对于亚轨道旅游任务来说完全是矫枉过正。”</blockquote></p><p> We think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"</p><p><blockquote>我们认为蓝色起源的主要市场肯定超出了亚轨道太空旅游，摩根士丹利强调，“贝佐斯先生的公司正在太空市场寻求业务，假设技术快速发展，到2040年，太空市场的规模将扩大两倍，年销售额将超过1万亿美元。实现例行登月、小行星采矿和太空旅游。”</blockquote></p><p> Therefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.</p><p><blockquote>因此，虽然蓝色起源专注于建立其太空殖民地的长期愿景，但我们认为他们肯定能够快速提高产量并获得显着的运营杠杆。关键是这些优势如何在短期内转化为其亚轨道太空旅游领域，这将是决定维珍银河领导地位的关键。</blockquote></p><p></p><p> One thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.</p><p><blockquote>有一件事是肯定的。两家公司预计，随着生产规模的扩大和技术的改进，亚轨道太空旅游门票的价格将随着时间的推移大幅下降。因此，维珍银河在这个市场中的领导地位和生存的关键是尽快获得运营杠杆以建立这些优势，而蓝色起源则忙于其整个领域的各种项目。</blockquote></p><p> Virgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.</p><p><blockquote>维珍银河希望让亚轨道太空旅游变得更加容易，而实现这一目标的关键是通过提高产量实现的运营杠杆来降低价格。因此，我们认为该公司的达美级计划对于维珍银河对抗蓝色起源的领导地位至关重要，并强烈鼓励投资者密切关注这些计划。</blockquote></p><p> <b>Free Cash Flow Forecast &amp; Valuations</b></p><p><blockquote><b>自由现金流预测和估值</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48be5e8da375fdc72591e31b96a223f4\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>EBITDA margin forecast &amp; CapEx margin forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EBITDA利润率预测和资本支出利润率预测。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57509b52b1c0ac46a44e7a0dd619bd97\" tg-width=\"640\" tg-height=\"361\" width=\"100%\" height=\"auto\"><span>EV / Fwd EBITDA trend. Data Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd EBITDA趋势。数据来源：标普资本智商</span></p></blockquote></p><p> Despite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.</p><p><blockquote>尽管全面收入服务的推出推迟到22年第三季度，但华尔街预计该公司将从2024财年末开始实现自由现金流盈利。我们认为这很重要，因为它展示了公司业务在这个市场的长期现金流潜力，目前只有BORGN和SPCE是明显的领导者。</blockquote></p><p> However, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.</p><p><blockquote>然而，到2030年底，估值看起来仍然昂贵，为18.5倍，比航空航天和国防同行13.61倍的平均水平高出36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1084f3186f9732fad8d28b824c65de2a\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"><span>Street's mean price target. Source: TIKR</span></p><p><blockquote><p class=\"t-img-caption\"><span>Street的平均目标价。来源：TIKR</span></p></blockquote></p><p> The Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.</p><p><blockquote>华尔街也不太乐观，平均目标价为35.55美元，仅比上一收盘价高出13.5%，因为分析师关注SPCE将其收入服务转移到2022年第三季度的近期“阻力”，我们认为这对其长期竞争优势非常重要。</blockquote></p><p> While we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.</p><p><blockquote>虽然我们对该公司的长期前景以及将亚轨道太空旅游带给世界的雄心感到非常兴奋，但我们对维珍银河看似昂贵的估值并不那么确定。</blockquote></p><p> <b>SPCE Stock Price Action and Trend Analysis</b></p><p><blockquote><b>SPCE股价走势及趋势分析</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f872b3e8670eac6d5ca4d8afce15200\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> While we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.</p><p><blockquote>虽然鉴于SPCE的估值昂贵，我们认为SPCE不适合长期投资者，但我们认为头寸交易者仍可能发现该股潜伏的机会。</blockquote></p><p> SPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.</p><p><blockquote>SPCE在50周移动平均线动态支撑位上受到强有力的支撑，该支撑位自2020年以来一直保持强劲，包括最近5月份出现的下行错误突破（熊市陷阱）。因此，我们希望，一旦价格走势在未来几周内自行解决，热衷于交易该股票的头寸交易者可能会找到机会。</blockquote></p><p> In summary, we assign a neutral rating to SPCE for long-term investors.</p><p><blockquote>综上所述，我们为长期投资者给予SPCE中性评级。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4449270-virgin-galactic-stock-10-years\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://seekingalpha.com/article/4449270-virgin-galactic-stock-10-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149823415","content_text":"Summary\n\nVirgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.\nHowever, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.\nWe would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.\nLastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.\n\nNastco/iStock via Getty Images\nInvestment Thesis\nBack in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.\nSince then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from late Q3'CY22.\nThis article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.\nLastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.\nRevisions to Virgin Galactic's Mean Consensus Estimates\nMay's consensus revenue estimates & Aug's consensus revenue estimates. Data source: S&P Capital IQ\nScale of revised estimates (Between May and Aug estimates). Data source: S&P Capital IQ\nInvestors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.\nPrivate Commercial Full Revenue Service is Expected from Q3'CY22\nSPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.\nAs a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.\nHowever, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:\n\n These enhancements\n could potentially allow Eve to fly 100 flights between major maintenance inspections. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.\n\nIn addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"\nThe Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"\nSure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:\n\n These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and\n that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today.\"\n\nIf investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:\n\n Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.\n\nWe are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).\nAre There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?\nYes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"\nInvestors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"\nThe company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"\nImportantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.\nVirgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience.And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"\nStrong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage\nAstute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.\nBased on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.\nThe initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.\nHowever, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.\nPart of the reason that the company needed to raise the $500M equity offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.\nCrucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"\nCompeting Against Blue Origin\nWe think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.\nWhile we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture and the technology we have chosen is complete overkill for a suborbital tourism mission.”\nWe think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"\nTherefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.\nOne thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.\nVirgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.\nFree Cash Flow Forecast & Valuations\nEBITDA margin forecast & CapEx margin forecast. Data source: S&P Capital IQ\nEV / Fwd EBITDA trend. Data Source: S&P Capital IQ\nDespite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.\nHowever, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.\nStreet's mean price target. Source: TIKR\nThe Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.\nWhile we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.\nSPCE Stock Price Action and Trend Analysis\nSource: TradingView\nWhile we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.\nSPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.\nIn summary, we assign a neutral rating to SPCE for long-term investors.","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":3227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897403361,"gmtCreate":1628952395653,"gmtModify":1631885721620,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"like &amp; comment pls [Smile]&nbsp;","listText":"like &amp; comment pls [Smile]&nbsp;","text":"like & comment pls [Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/897403361","repostId":"2159321505","repostType":4,"repost":{"id":"2159321505","kind":"highlight","pubTimestamp":1628911811,"share":"https://www.laohu8.com/m/news/2159321505?lang=zh_CN&edition=full","pubTime":"2021-08-14 11:30","market":"us","language":"en","title":"Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2159321505","media":"MarketWatch","summary":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. ","content":"<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员的任期为两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官Elon Musk去年在德国。玛雅·希蒂吉/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚间提交的文件中表示，该公司将于10月7日在加州弗里蒙特工厂举行股东大会，该公司将提出的提案包括缩短董事任期的看涨期权。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项建议是评级将每名董事的任期从三年减至两年。特斯拉董事会目前有九名成员，分为三类，任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个任期交错的类别，董事在两个类别之间的分布尽可能平均。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自2007年以来一直在特斯拉董事会任职的风险投资家Antonio Gracias在2019年表示，今年任期结束后，他不会寻求连任，董事会成员将减少至8名。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名现任董事会成员、新闻集团创始人默多克的小儿子默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的哥哥马斯克（Kimbal Musk）连任二级董事，任期将于2024年届满。该公司表示，如果期限缩减获得批准，那么他们的期限将于2023年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提议选举每位董事会成员一年的回应。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>然而，特斯拉表示，两年任期“在股东的长期利益和近期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日收盘下跌0.7%后，在盘后交易中持平。该股今年已上涨1.6%，而标普500指数的涨幅约为19%。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-14 11:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员的任期为两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官Elon Musk去年在德国。玛雅·希蒂吉/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚间提交的文件中表示，该公司将于10月7日在加州弗里蒙特工厂举行股东大会，该公司将提出的提案包括缩短董事任期的看涨期权。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项建议是评级将每名董事的任期从三年减至两年。特斯拉董事会目前有九名成员，分为三类，任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个任期交错的类别，董事在两个类别之间的分布尽可能平均。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自2007年以来一直在特斯拉董事会任职的风险投资家Antonio Gracias在2019年表示，今年任期结束后，他不会寻求连任，董事会成员将减少至8名。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名现任董事会成员、新闻集团创始人默多克的小儿子默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的哥哥马斯克（Kimbal Musk）连任二级董事，任期将于2024年届满。该公司表示，如果期限缩减获得批准，那么他们的期限将于2023年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提议选举每位董事会成员一年的回应。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>然而，特斯拉表示，两年任期“在股东的长期利益和近期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日收盘下跌0.7%后，在盘后交易中持平。该股今年已上涨1.6%，而标普500指数的涨幅约为19%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159321505","content_text":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES\nTesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.\nOne of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s board currently has nine members who are divided into three classes in staggered three-year terms.\nIf the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the filing.\nThe board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.\nTesla’s board nominated current board members James Murdoch, the youngest son of News Corp founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.\nTesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.\nThe two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.\nTesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&P 500 index.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1945,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895080332,"gmtCreate":1628694163226,"gmtModify":1631885721634,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"like&nbsp;","listText":"like&nbsp;","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/895080332","repostId":"1186134691","repostType":4,"repost":{"id":"1186134691","kind":"news","pubTimestamp":1628692062,"share":"https://www.laohu8.com/m/news/1186134691?lang=zh_CN&edition=full","pubTime":"2021-08-11 22:27","market":"us","language":"en","title":"Here Comes The iPhone 13: One Reason Why It May Be A Success<blockquote>iPhone 13来了：它可能成功的原因之一</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1186134691","media":"Thestreet","summary":"Apple stock(AAPL)  has been spinning its wheels and trading at a share price of around $142 to $147 ","content":"<p>Apple stock(<b>AAPL</b>) &nbsp;has been spinning its wheels and trading at a share price of around $142 to $147 since early July. Afterdelivering a killer fiscal third quarterlate last month, investors seem to be awaiting the next catalyst to get behind the stock once again and push it to new all-time highs.</p><p><blockquote>苹果股票(<b>AAPL</b>）自7月初以来一直在旋转，股价约为142美元至147美元。在上个月末公布了杀手级的第三财季后，投资者似乎正在等待下一个催化剂，再次支持该股并将其推向历史新高。</blockquote></p><p> The catalyst may be only about six to eight weeks away. This is when the iPhone 13, Apple’s second generation of 5G-capable mobile devices, is expected to be unveiled. At least one main feature may help to make this one yet another successful smartphone launch for the Cupertino company.</p><p><blockquote>催化剂可能只有大约六到八周的时间。届时，苹果第二代支持5G的移动设备iPhone 13预计将亮相。至少有一个主要功能可能有助于使这款智能手机成为库比蒂诺公司的又一次成功发布。</blockquote></p><p> Not all about 5G</p><p><blockquote>不全是关于5G</blockquote></p><p> Even though one of the iPhone 12’s most talked-about feature is the ability to exchange data at 5G speeds, some believe that this is not the main appeal of the device to most consumers. 5G networks are still far from being fully developed, particularly outside China, and owning a 5G device today may not mean much to most users across most global markets.</p><p><blockquote>尽管iPhone 12最受关注的功能之一是能够以5G速度交换数据，但一些人认为这并不是该设备对大多数消费者的主要吸引力。5G网络仍远未得到充分发展，特别是在中国以外，如今拥有5G设备对全球大多数市场的大多数用户来说可能意义不大。</blockquote></p><p> The same could also be said of the iPhone 13. To win the hearts and minds of Apple enthusiasts and encourage them to buy the new product, the company will probably need to offer other substantial feature upgrades. One of the most likely ones is a set of new applications for the cameras.</p><p><blockquote>iPhone 13也是如此。为了赢得苹果爱好者的心并鼓励他们购买新产品，该公司可能需要提供其他实质性的功能升级。其中最有可能的是相机的一系列新应用。</blockquote></p><p> Bloomberg has justreportedthat Apple will introduce three new camera features on the iPhone 13:</p><p><blockquote>彭博社刚刚报道称，苹果将在iPhone 13上推出三项新相机功能：</blockquote></p><p> <ol>  <li>Portrait mode for videos, which allows for depth effects by blurring the background;</li>  <li>ProRes, a higher-quality video format that gives pro users more options in post-production;</li>  <li>New filters to enhance the look and colors of photos.</li> </ol> Will it be enough?</p><p><blockquote><ol><li>视频的人像模式，通过模糊背景来实现深度效果；</li><li>ProRes，一种更高质量的视频格式，为pro用户在后期制作中提供了更多选择；</li><li>增强照片外观和颜色的新滤镜。</li></ol>够了吗？</blockquote></p><p> The questions that Apple stock investors might be asking themselves is: will camera updates be enough to increase iPhone sales in the coming fiscal year? The answer is subject to personal opinions. I believe that these three new features alone will not do the trick.</p><p><blockquote>苹果股票投资者可能会问自己的问题是：相机更新是否足以增加下一财年的iPhone销量？答案以个人观点为准。我相信仅靠这三个新功能是不够的。</blockquote></p><p> However, the iPhone is proving to be more about the full package of benefits that it offers to its users than about one “killer” feature – be it camera, 5G connectivity, screen size, or other. I believe that the iPhone 13 has a good chance of doing well in fiscal 2022. However, other factors will likely play an important role, including the faster A15 processor and the continuous software updates to iOS.</p><p><blockquote>然而，事实证明，iPhone更多的是它为用户提供的全套好处，而不是一个“杀手级”功能——无论是摄像头、5G连接、屏幕尺寸还是其他。我相信iPhone 13很有可能在2022财年表现出色。然而，其他因素可能会发挥重要作用，包括更快的A15处理器和iOS的持续软件更新。</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 Comes The iPhone 13: One Reason Why It May Be A Success<blockquote>iPhone 13来了：它可能成功的原因之一</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 Comes The iPhone 13: One Reason Why It May Be A Success<blockquote>iPhone 13来了：它可能成功的原因之一</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-08-11 22:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple stock(<b>AAPL</b>) &nbsp;has been spinning its wheels and trading at a share price of around $142 to $147 since early July. Afterdelivering a killer fiscal third quarterlate last month, investors seem to be awaiting the next catalyst to get behind the stock once again and push it to new all-time highs.</p><p><blockquote>苹果股票(<b>AAPL</b>）自7月初以来一直在旋转，股价约为142美元至147美元。在上个月末公布了杀手级的第三财季后，投资者似乎正在等待下一个催化剂，再次支持该股并将其推向历史新高。</blockquote></p><p> The catalyst may be only about six to eight weeks away. This is when the iPhone 13, Apple’s second generation of 5G-capable mobile devices, is expected to be unveiled. At least one main feature may help to make this one yet another successful smartphone launch for the Cupertino company.</p><p><blockquote>催化剂可能只有大约六到八周的时间。届时，苹果第二代支持5G的移动设备iPhone 13预计将亮相。至少有一个主要功能可能有助于使这款智能手机成为库比蒂诺公司的又一次成功发布。</blockquote></p><p> Not all about 5G</p><p><blockquote>不全是关于5G</blockquote></p><p> Even though one of the iPhone 12’s most talked-about feature is the ability to exchange data at 5G speeds, some believe that this is not the main appeal of the device to most consumers. 5G networks are still far from being fully developed, particularly outside China, and owning a 5G device today may not mean much to most users across most global markets.</p><p><blockquote>尽管iPhone 12最受关注的功能之一是能够以5G速度交换数据，但一些人认为这并不是该设备对大多数消费者的主要吸引力。5G网络仍远未得到充分发展，特别是在中国以外，如今拥有5G设备对全球大多数市场的大多数用户来说可能意义不大。</blockquote></p><p> The same could also be said of the iPhone 13. To win the hearts and minds of Apple enthusiasts and encourage them to buy the new product, the company will probably need to offer other substantial feature upgrades. One of the most likely ones is a set of new applications for the cameras.</p><p><blockquote>iPhone 13也是如此。为了赢得苹果爱好者的心并鼓励他们购买新产品，该公司可能需要提供其他实质性的功能升级。其中最有可能的是相机的一系列新应用。</blockquote></p><p> Bloomberg has justreportedthat Apple will introduce three new camera features on the iPhone 13:</p><p><blockquote>彭博社刚刚报道称，苹果将在iPhone 13上推出三项新相机功能：</blockquote></p><p> <ol>  <li>Portrait mode for videos, which allows for depth effects by blurring the background;</li>  <li>ProRes, a higher-quality video format that gives pro users more options in post-production;</li>  <li>New filters to enhance the look and colors of photos.</li> </ol> Will it be enough?</p><p><blockquote><ol><li>视频的人像模式，通过模糊背景来实现深度效果；</li><li>ProRes，一种更高质量的视频格式，为pro用户在后期制作中提供了更多选择；</li><li>增强照片外观和颜色的新滤镜。</li></ol>够了吗？</blockquote></p><p> The questions that Apple stock investors might be asking themselves is: will camera updates be enough to increase iPhone sales in the coming fiscal year? The answer is subject to personal opinions. I believe that these three new features alone will not do the trick.</p><p><blockquote>苹果股票投资者可能会问自己的问题是：相机更新是否足以增加下一财年的iPhone销量？答案以个人观点为准。我相信仅靠这三个新功能是不够的。</blockquote></p><p> However, the iPhone is proving to be more about the full package of benefits that it offers to its users than about one “killer” feature – be it camera, 5G connectivity, screen size, or other. I believe that the iPhone 13 has a good chance of doing well in fiscal 2022. However, other factors will likely play an important role, including the faster A15 processor and the continuous software updates to iOS.</p><p><blockquote>然而，事实证明，iPhone更多的是它为用户提供的全套好处，而不是一个“杀手级”功能——无论是摄像头、5G连接、屏幕尺寸还是其他。我相信iPhone 13很有可能在2022财年表现出色。然而，其他因素可能会发挥重要作用，包括更快的A15处理器和iOS的持续软件更新。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/iphone/here-comes-the-iphone-13-one-reason-why-it-may-be-a-success\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/iphone/here-comes-the-iphone-13-one-reason-why-it-may-be-a-success","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186134691","content_text":"Apple stock(AAPL)  has been spinning its wheels and trading at a share price of around $142 to $147 since early July. Afterdelivering a killer fiscal third quarterlate last month, investors seem to be awaiting the next catalyst to get behind the stock once again and push it to new all-time highs.\nThe catalyst may be only about six to eight weeks away. This is when the iPhone 13, Apple’s second generation of 5G-capable mobile devices, is expected to be unveiled. At least one main feature may help to make this one yet another successful smartphone launch for the Cupertino company.\nNot all about 5G\nEven though one of the iPhone 12’s most talked-about feature is the ability to exchange data at 5G speeds, some believe that this is not the main appeal of the device to most consumers. 5G networks are still far from being fully developed, particularly outside China, and owning a 5G device today may not mean much to most users across most global markets.\nThe same could also be said of the iPhone 13. To win the hearts and minds of Apple enthusiasts and encourage them to buy the new product, the company will probably need to offer other substantial feature upgrades. One of the most likely ones is a set of new applications for the cameras.\nBloomberg has justreportedthat Apple will introduce three new camera features on the iPhone 13:\n\nPortrait mode for videos, which allows for depth effects by blurring the background;\nProRes, a higher-quality video format that gives pro users more options in post-production;\nNew filters to enhance the look and colors of photos.\n\nWill it be enough?\nThe questions that Apple stock investors might be asking themselves is: will camera updates be enough to increase iPhone sales in the coming fiscal year? The answer is subject to personal opinions. I believe that these three new features alone will not do the trick.\nHowever, the iPhone is proving to be more about the full package of benefits that it offers to its users than about one “killer” feature – be it camera, 5G connectivity, screen size, or other. I believe that the iPhone 13 has a good chance of doing well in fiscal 2022. However, other factors will likely play an important role, including the faster A15 processor and the continuous software updates to iOS.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2599,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895017224,"gmtCreate":1628694122968,"gmtModify":1631885721646,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"like &nbsp;comment","listText":"like &nbsp;comment","text":"like comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/895017224","repostId":"1141858457","repostType":4,"repost":{"id":"1141858457","kind":"news","pubTimestamp":1628693066,"share":"https://www.laohu8.com/m/news/1141858457?lang=zh_CN&edition=full","pubTime":"2021-08-11 22:44","market":"us","language":"en","title":"Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141858457","media":"Benzinga","summary":"The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with","content":"<p><div> The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-...</p><p><blockquote><div>华特·迪士尼公司和《黑寡妇》明星斯嘉丽·约翰逊之间的不和有了新的转折，据报道，该公司取消了之前宣布的两届奥斯卡奖的计划项目...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</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\">\nDisney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-11 22:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-...</p><p><blockquote><div>华特·迪士尼公司和《黑寡妇》明星斯嘉丽·约翰逊之间的不和有了新的转折，据报道，该公司取消了之前宣布的两届奥斯卡奖的计划项目...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">Benzinga</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":{"DIS":"迪士尼"},"source_url":"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141858457","content_text":"The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-nominated actress.\nWhat Happened:According to a report on the entertainment siteGiantFreakinRobot.combased on information from “one of our trusted and proven inside sources,” Disney has dropped the “Tower of Terror” project that Johansson was scheduled to star in and produce through her These Pictures company.\n“Tower of Terror” is based on the popular Disney theme park ride.Colliderfirst reported the project had the greenlight in June, with “Toy Story 4” director Josh Cooley at work on a screenplay. The ride inspired a 1997 made-for-television Disney film with Steve Guttenbergand the studio has trying to develop a theatrical feature since 2015.\nWhat Else Happened:Besides giving “Tower of Terror” the kibosh, the studio is also closing the door on any potential future projects with Johansson, whosued Disneyover breach of contract in connection with having her “Black Widow” salary linked to the film’s theatrical release. The studio gave the film a simultaneous theatrical and streaming release, which Johansson said violated her contract and ensured she would be receiving less money for her performance.\nJohansson’s only other 2021 film role will be a voice performance in the animated film “Sing 2” from Comcast Corporation’s Universal Pictures, which is scheduled for a December release. She is in pre-production as star and producer on the science-fiction drama “Bride,” which will be released by A24 and Apple Inc. .\nIn early 2020, Johansson and Chris Evans were cited in multiple entertainment media sources as being in talks to star in a remake of the musical “Little Shop of Horrors” for the AT&T subsidiary Warner Bros. However, Evans told an interviewer in March the project has been put on indefinite hold because the projected film budget became too large.","news_type":1,"symbols_score_info":{"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":2450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896595693,"gmtCreate":1628591191612,"gmtModify":1631885721660,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"like &amp; comment&nbsp;","listText":"like &amp; comment&nbsp;","text":"like & comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/896595693","repostId":"1135437633","repostType":4,"isVote":1,"tweetType":1,"viewCount":3400,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898487516,"gmtCreate":1628517714235,"gmtModify":1631885721671,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"like &amp; comment&nbsp;","listText":"like &amp; comment&nbsp;","text":"like & comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898487516","repostId":"2158446563","repostType":4,"isVote":1,"tweetType":1,"viewCount":1645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898485832,"gmtCreate":1628517632426,"gmtModify":1631885721683,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"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/898485832","repostId":"1132727199","repostType":4,"repost":{"id":"1132727199","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":1628517118,"share":"https://www.laohu8.com/m/news/1132727199?lang=zh_CN&edition=full","pubTime":"2021-08-09 21:51","market":"us","language":"en","title":"Tesla stock was up 2% in early trading following an upgrade to ‘buy’ from Jefferies with a target of $850 from the previous $700.<blockquote>杰富瑞(Jefferies)将目标价从之前的700美元上调至850美元，特斯拉股价早盘上涨2%。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132727199","media":"Tiger Newspress","summary":"Tesla&nbsp;stock was up 2% in early&nbsp;trading following an upgrade to ‘buy’ from Jefferies with a target of $850 from the previous $700.\n\n\n\n\n\nThe stock was earlier rated ‘neutral’ at the brokerage. The new target price is 21.6% higher from the stock’s Friday close of $699.10.","content":"<p>Tesla&nbsp;stock was up 2% in early&nbsp;trading following an upgrade to ‘buy’ from Jefferies with a target of $850 from the previous $700.</p><p><blockquote>杰富瑞(Jefferies)将目标价从之前的700美元上调至850美元，特斯拉股价早盘上涨2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf0e45da8943229703cc302cf4771aef\" tg-width=\"1273\" tg-height=\"631\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The stock was earlier rated ‘neutral’ at the brokerage. The new target price is 21.6% higher from the stock’s Friday close of $699.10.</p><p><blockquote>该券商早些时候将该股评级为“中性”。新目标价较该股周五收盘价699.10美元上涨21.6%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla stock was up 2% in early trading following an upgrade to ‘buy’ from Jefferies with a target of $850 from the previous $700.<blockquote>杰富瑞(Jefferies)将目标价从之前的700美元上调至850美元，特斯拉股价早盘上涨2%。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla stock was up 2% in early trading following an upgrade to ‘buy’ from Jefferies with a target of $850 from the previous $700.<blockquote>杰富瑞(Jefferies)将目标价从之前的700美元上调至850美元，特斯拉股价早盘上涨2%。</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\">2021-08-09 21:51</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tesla&nbsp;stock was up 2% in early&nbsp;trading following an upgrade to ‘buy’ from Jefferies with a target of $850 from the previous $700.</p><p><blockquote>杰富瑞(Jefferies)将目标价从之前的700美元上调至850美元，特斯拉股价早盘上涨2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf0e45da8943229703cc302cf4771aef\" tg-width=\"1273\" tg-height=\"631\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The stock was earlier rated ‘neutral’ at the brokerage. The new target price is 21.6% higher from the stock’s Friday close of $699.10.</p><p><blockquote>该券商早些时候将该股评级为“中性”。新目标价较该股周五收盘价699.10美元上涨21.6%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132727199","content_text":"Tesla stock was up 2% in early trading following an upgrade to ‘buy’ from Jefferies with a target of $850 from the previous $700.\n\nThe stock was earlier rated ‘neutral’ at the brokerage. The new target price is 21.6% higher from the stock’s Friday close of $699.10.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891937487,"gmtCreate":1628316095349,"gmtModify":1631885721696,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"good reading&nbsp;","listText":"good reading&nbsp;","text":"good reading","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/891937487","repostId":"1143051031","repostType":4,"isVote":1,"tweetType":1,"viewCount":3317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891934614,"gmtCreate":1628316025638,"gmtModify":1631885721706,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/891934614","repostId":"1119792130","repostType":4,"isVote":1,"tweetType":1,"viewCount":1846,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893058267,"gmtCreate":1628223432659,"gmtModify":1631890938620,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"can be a stock watchlist…&nbsp;keep eye on them!","listText":"can be a stock watchlist…&nbsp;keep eye on them!","text":"can be a stock watchlist… keep eye on them!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/893058267","repostId":"1155519509","repostType":4,"isVote":1,"tweetType":1,"viewCount":818,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893053546,"gmtCreate":1628223328585,"gmtModify":1631890938630,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","listText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","text":"[Miser] [Miser] [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/893053546","repostId":"1188253337","repostType":4,"repost":{"id":"1188253337","kind":"news","pubTimestamp":1628216944,"share":"https://www.laohu8.com/m/news/1188253337?lang=zh_CN&edition=full","pubTime":"2021-08-06 10:29","market":"us","language":"en","title":"The S&P 500 Can Rise Another 6% This Year, Goldman Sachs Says. Why It’s So Upbeat.<blockquote>高盛表示，标普500今年可能再上涨6%。为什么这么乐观。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188253337","media":"Barrons","summary":"Goldman Sachs strategists raised their target for the S&P 500, saying corporate earnings have been t","content":"<p>Goldman Sachs strategists raised their target for the S&amp;P 500, saying corporate earnings have been too strong to ignore and that bond yields are remaining stubbornly low.</p><p><blockquote>高盛策略师上调了标普500的目标，称企业盈利强劲，不容忽视，债券收益率仍居高不下。</blockquote></p><p> The investment bank now says the market benchmark could reach 4700 by year-end, up from its previous call of 4300. That implies a gain of just over 6% from the index’s current level.</p><p><blockquote>该投资银行现在表示，到年底，市场基准可能会达到4700点，高于之前4300点的看涨期权。这意味着该指数较当前水平上涨略高于6%。</blockquote></p><p> One of the main factors behind the more upbeat view is that second-quarter earnings are coming in far higher than expected, exceeding expectations&nbsp;by historically wide margins. The Goldman strategists now expect aggregate earnings per share for companies in the S&amp;P 500 will be $207 this year, up from a previous forecast of $193. For 2022, they are expecting aggregate EPS of $212, up from $202.</p><p><blockquote>更为乐观的观点背后的主要因素之一是第二季度盈利远高于预期，超出预期的幅度为历史上较大。高盛策略师目前预计，标普500公司今年的每股总收益将为207美元，高于此前预测的193美元。他们预计2022年总每股收益为212美元，高于202美元。</blockquote></p><p> The forecasts represent respective year-over-year growth of 45% and 2%, as pent-up demand drives this year’s profits past 2019 levels, before growth moderates in 2022. The strategists incorporated a corporate tax-rate increase into their 2022 profit projection, reducing it slightly.</p><p><blockquote>预测分别为45%和2%的同比增长，因为被压抑的需求推动今年的利润超过2019年的水平，然后增长将在2022年放缓。策略师将企业税率上调纳入2022年利润预测中，并略有降低。</blockquote></p><p> The other key consideration is that valuations could remain fairly high because&nbsp;bond yields remain low. Goldman sees stocks in the index trading at an average of 22.1 times the per-share earnings expected for the 2022, slightly higher than the current 21 times. Low bond yields reduce the appeal of investing in fixed-income securities, as well as increasing the current value of future profits.</p><p><blockquote>另一个关键考虑因素是，由于债券收益率仍然较低，估值可能仍然相当高。高盛预计该指数股票的平均交易价格是2022年每股收益预期的22.1倍，略高于目前的21倍。低债券收益率降低了投资固定收益证券的吸引力，也增加了未来利润的现值。</blockquote></p><p> “Lower interest rates than expected support a stable forward P/E multiple of 22x,” wrote David Kostin, Goldman Sachs’ chief U.S. equity strategist.</p><p><blockquote>高盛首席美国股票策略师David Kostin写道：“低于预期的利率支撑了22倍的稳定预期市盈率。”</blockquote></p><p> The strategists lowered their forecast for the 10-year Treasury yield to 1.6% from 1.9% by year-end. Yields are now at 1.2%, even as inflation expectations have risen and some market participants have seen buying the debt as a good trade.</p><p><blockquote>策略师将年底前10年期国债收益率预期从1.9%下调至1.6%。尽管通胀预期上升，一些市场参与者认为购买债券是一笔不错的交易，但收益率目前仍为1.2%。</blockquote></p><p> <b>I</b>nflation is expected to be a bit over 2% for the long term, according to St. Louis Fed data, and bond investors usually demand a return greater than the rate of inflation. But the 10-year Treasury yield has remained far below expected inflation, even after a period during which some investors were&nbsp;piling into the debt, sending the price up and the yield down.</p><p><blockquote><b>我</b>根据圣路易斯联储的数据，长期通胀率预计将略高于2%，债券投资者通常要求高于通胀率的回报。但10年期国债收益率仍远低于预期通胀，即使在一些投资者大量买入债券导致价格上涨和收益率下降的一段时间之后。</blockquote></p><p> Goldman’s 2021 target for the S&amp;P 500 implies an earnings yield for stocks that would be 3 percentage points higher than what investors can get from bonds at 1.6%. And that makes stock valuations look reasonable.</p><p><blockquote>高盛2021年标普500目标意味着股票收益率将比投资者从债券中获得的1.6%高出3个百分点。这使得股票估值看起来合理。</blockquote></p><p> The current Goldilocks environment—a sturdy economy, but with low bond yields—is keeping stocks in favor.</p><p><blockquote>当前的金发姑娘环境——经济强劲，但债券收益率较低——使股市受到青睐。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The S&P 500 Can Rise Another 6% This Year, Goldman Sachs Says. Why It’s So Upbeat.<blockquote>高盛表示，标普500今年可能再上涨6%。为什么这么乐观。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe S&P 500 Can Rise Another 6% This Year, Goldman Sachs Says. Why It’s So Upbeat.<blockquote>高盛表示，标普500今年可能再上涨6%。为什么这么乐观。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-08-06 10:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Goldman Sachs strategists raised their target for the S&amp;P 500, saying corporate earnings have been too strong to ignore and that bond yields are remaining stubbornly low.</p><p><blockquote>高盛策略师上调了标普500的目标，称企业盈利强劲，不容忽视，债券收益率仍居高不下。</blockquote></p><p> The investment bank now says the market benchmark could reach 4700 by year-end, up from its previous call of 4300. That implies a gain of just over 6% from the index’s current level.</p><p><blockquote>该投资银行现在表示，到年底，市场基准可能会达到4700点，高于之前4300点的看涨期权。这意味着该指数较当前水平上涨略高于6%。</blockquote></p><p> One of the main factors behind the more upbeat view is that second-quarter earnings are coming in far higher than expected, exceeding expectations&nbsp;by historically wide margins. The Goldman strategists now expect aggregate earnings per share for companies in the S&amp;P 500 will be $207 this year, up from a previous forecast of $193. For 2022, they are expecting aggregate EPS of $212, up from $202.</p><p><blockquote>更为乐观的观点背后的主要因素之一是第二季度盈利远高于预期，超出预期的幅度为历史上较大。高盛策略师目前预计，标普500公司今年的每股总收益将为207美元，高于此前预测的193美元。他们预计2022年总每股收益为212美元，高于202美元。</blockquote></p><p> The forecasts represent respective year-over-year growth of 45% and 2%, as pent-up demand drives this year’s profits past 2019 levels, before growth moderates in 2022. The strategists incorporated a corporate tax-rate increase into their 2022 profit projection, reducing it slightly.</p><p><blockquote>预测分别为45%和2%的同比增长，因为被压抑的需求推动今年的利润超过2019年的水平，然后增长将在2022年放缓。策略师将企业税率上调纳入2022年利润预测中，并略有降低。</blockquote></p><p> The other key consideration is that valuations could remain fairly high because&nbsp;bond yields remain low. Goldman sees stocks in the index trading at an average of 22.1 times the per-share earnings expected for the 2022, slightly higher than the current 21 times. Low bond yields reduce the appeal of investing in fixed-income securities, as well as increasing the current value of future profits.</p><p><blockquote>另一个关键考虑因素是，由于债券收益率仍然较低，估值可能仍然相当高。高盛预计该指数股票的平均交易价格是2022年每股收益预期的22.1倍，略高于目前的21倍。低债券收益率降低了投资固定收益证券的吸引力，也增加了未来利润的现值。</blockquote></p><p> “Lower interest rates than expected support a stable forward P/E multiple of 22x,” wrote David Kostin, Goldman Sachs’ chief U.S. equity strategist.</p><p><blockquote>高盛首席美国股票策略师David Kostin写道：“低于预期的利率支撑了22倍的稳定预期市盈率。”</blockquote></p><p> The strategists lowered their forecast for the 10-year Treasury yield to 1.6% from 1.9% by year-end. Yields are now at 1.2%, even as inflation expectations have risen and some market participants have seen buying the debt as a good trade.</p><p><blockquote>策略师将年底前10年期国债收益率预期从1.9%下调至1.6%。尽管通胀预期上升，一些市场参与者认为购买债券是一笔不错的交易，但收益率目前仍为1.2%。</blockquote></p><p> <b>I</b>nflation is expected to be a bit over 2% for the long term, according to St. Louis Fed data, and bond investors usually demand a return greater than the rate of inflation. But the 10-year Treasury yield has remained far below expected inflation, even after a period during which some investors were&nbsp;piling into the debt, sending the price up and the yield down.</p><p><blockquote><b>我</b>根据圣路易斯联储的数据，长期通胀率预计将略高于2%，债券投资者通常要求高于通胀率的回报。但10年期国债收益率仍远低于预期通胀，即使在一些投资者大量买入债券导致价格上涨和收益率下降的一段时间之后。</blockquote></p><p> Goldman’s 2021 target for the S&amp;P 500 implies an earnings yield for stocks that would be 3 percentage points higher than what investors can get from bonds at 1.6%. And that makes stock valuations look reasonable.</p><p><blockquote>高盛2021年标普500目标意味着股票收益率将比投资者从债券中获得的1.6%高出3个百分点。这使得股票估值看起来合理。</blockquote></p><p> The current Goldilocks environment—a sturdy economy, but with low bond yields—is keeping stocks in favor.</p><p><blockquote>当前的金发姑娘环境——经济强劲，但债券收益率较低——使股市受到青睐。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stock-market-sp-500-more-gains-goldman-sachs-51628182610?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/stock-market-sp-500-more-gains-goldman-sachs-51628182610?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188253337","content_text":"Goldman Sachs strategists raised their target for the S&P 500, saying corporate earnings have been too strong to ignore and that bond yields are remaining stubbornly low.\nThe investment bank now says the market benchmark could reach 4700 by year-end, up from its previous call of 4300. That implies a gain of just over 6% from the index’s current level.\nOne of the main factors behind the more upbeat view is that second-quarter earnings are coming in far higher than expected, exceeding expectations by historically wide margins. The Goldman strategists now expect aggregate earnings per share for companies in the S&P 500 will be $207 this year, up from a previous forecast of $193. For 2022, they are expecting aggregate EPS of $212, up from $202.\nThe forecasts represent respective year-over-year growth of 45% and 2%, as pent-up demand drives this year’s profits past 2019 levels, before growth moderates in 2022. The strategists incorporated a corporate tax-rate increase into their 2022 profit projection, reducing it slightly.\nThe other key consideration is that valuations could remain fairly high because bond yields remain low. Goldman sees stocks in the index trading at an average of 22.1 times the per-share earnings expected for the 2022, slightly higher than the current 21 times. Low bond yields reduce the appeal of investing in fixed-income securities, as well as increasing the current value of future profits.\n“Lower interest rates than expected support a stable forward P/E multiple of 22x,” wrote David Kostin, Goldman Sachs’ chief U.S. equity strategist.\nThe strategists lowered their forecast for the 10-year Treasury yield to 1.6% from 1.9% by year-end. Yields are now at 1.2%, even as inflation expectations have risen and some market participants have seen buying the debt as a good trade.\nInflation is expected to be a bit over 2% for the long term, according to St. Louis Fed data, and bond investors usually demand a return greater than the rate of inflation. But the 10-year Treasury yield has remained far below expected inflation, even after a period during which some investors were piling into the debt, sending the price up and the yield down.\nGoldman’s 2021 target for the S&P 500 implies an earnings yield for stocks that would be 3 percentage points higher than what investors can get from bonds at 1.6%. And that makes stock valuations look reasonable.\nThe current Goldilocks environment—a sturdy economy, but with low bond yields—is keeping stocks in favor.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899375443,"gmtCreate":1628165623382,"gmtModify":1631890938645,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"pls like","listText":"pls like","text":"pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/899375443","repostId":"2157435796","repostType":4,"isVote":1,"tweetType":1,"viewCount":692,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890967518,"gmtCreate":1628077807434,"gmtModify":1631890938675,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"thanks for sharing&nbsp;","listText":"thanks for sharing&nbsp;","text":"thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890967518","repostId":"1154407249","repostType":4,"isVote":1,"tweetType":1,"viewCount":854,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805495532,"gmtCreate":1627896855026,"gmtModify":1631890938692,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"let watch…&nbsp;","listText":"let watch…&nbsp;","text":"let watch…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805495532","repostId":"1184394577","repostType":4,"repost":{"id":"1184394577","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1627893144,"share":"https://www.laohu8.com/m/news/1184394577?lang=zh_CN&edition=full","pubTime":"2021-08-02 16:32","market":"us","language":"en","title":"Earnings Scheduled For August 2, 2021<blockquote>预计2021年8月2日收益</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184394577","media":"Benzinga","summary":"Companies Reporting Before The Bell\n\nHSBC Holdings (NYSE:HSBC) is estimated to report earnings for i","content":"<p><b>Companies Reporting Before The Bell</b></p><p><blockquote><b>公司在盘前发布报告</b></blockquote></p><p> <ul>  <li>HSBC Holdings (NYSE:HSBC) is estimated to report earnings for its second quarter.</li>  <li>Addex Therapeutics (NASDAQ:ADXN) is estimated to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/TGTX\">TG Therapeutics</a> (NASDAQ:TGTX) is expected to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/NERV\">Minerva Neurosciences</a> (NASDAQ:NERV) is likely to report quarterly loss at $0.17 per share on revenue of $570.00 thousand.</li>  <li>Alexander's (NYSE:ALX) is likely to report earnings for its second quarter.</li>  <li>Ferrari (NYSE:RACE) is projected to report quarterly earnings at $1.20 per share on revenue of $1.25 billion.</li>  <li><a href=\"https://laohu8.com/S/GPRE\">Green Plains</a> (NASDAQ:GPRE) is likely to report quarterly loss at $0.23 per share on revenue of $715.42 million.</li>  <li><a href=\"https://laohu8.com/S/CRNT\">Ceragon Networks</a> (NASDAQ:CRNT) is estimated to report quarterly loss at $0.04 per share on revenue of $65.13 million.</li>  <li><a href=\"https://laohu8.com/S/GPN\">Global Payments</a> (NYSE:GPN) is likely to report quarterly earnings at $1.89 per share on revenue of $1.85 billion.</li>  <li><a href=\"https://laohu8.com/S/TSEM\">Tower Semiconductor</a> (NASDAQ:TSEM) is expected to report quarterly earnings at $0.33 per share on revenue of $359.75 million.</li>  <li>DSP Group (NASDAQ:DSPG) is likely to report quarterly earnings at $0.08 per share on revenue of $35.00 million.</li>  <li><a href=\"https://laohu8.com/S/GNBC\">Green</a> Plains Partners (NASDAQ:GPP) is estimated to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/TKR\">Timken</a> (NYSE:TKR) is projected to report quarterly earnings at $1.45 per share on revenue of $1.05 billion.</li>  <li><a href=\"https://laohu8.com/S/STL\">Sterling</a> Bancorp (NASDAQ:SBT) is projected to report quarterly earnings at $0.06 per share on revenue of $23.17 million.</li>  <li>JELD-WEN Holding (NYSE:JELD) is estimated to report quarterly earnings at $0.61 per share on revenue of $1.16 billion.</li>  <li><a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> (NASDAQ:ON) is expected to report quarterly earnings at $0.49 per share on revenue of $1.62 billion.</li>  <li>KnowBe4 (NASDAQ:KNBE) is likely to report quarterly loss at $0.02 per share on revenue of $56.37 million.</li>  <li><a href=\"https://laohu8.com/S/RADA\">Rada Electronics</a> Industri (NASDAQ:RADA) is projected to report quarterly earnings at $0.09 per share on revenue of $27.98 million.</li>  <li>Hayward Holdings (NYSE:HAYW) is projected to report quarterly earnings at $0.28 per share on revenue of $339.28 million.</li>  <li>DBV Technologies (NASDAQ:DBVT) is projected to report quarterly loss at $0.57 per share on revenue of $3.18 million.</li>  <li>RumbleON (NASDAQ:RMBL) is likely to report quarterly earnings at $0.06 per share on revenue of $143.40 million.</li>  <li>CNA Financial (NYSE:CNA) is projected to report quarterly earnings at $1.11 per share on revenue of $2.06 billion.</li>  <li><a href=\"https://laohu8.com/S/ARCB\">ArcBest</a> (NASDAQ:ARCB) is expected to report quarterly earnings at $1.61 per share on revenue of $915.95 million.</li>  <li><a href=\"https://laohu8.com/S/L\">Loews</a> (NYSE:L) is likely to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/MTU\">Mitsubishi UFJ</a> Financial (NYSE:MUFG) is likely to report earnings for its first quarter.</li> </ul> <b>Companies Reporting After The Bell</b></p><p><blockquote><ul><li>汇丰控股（纽约证券交易所股票代码：HSBC）预计将公布第二季度收益。</li><li>Addex Therapeutics（纳斯达克股票代码：ADXN）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/TGTX\">TG治疗</a>（纳斯达克：TGTX）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/NERV\">密涅瓦神经科学</a>（纳斯达克：NERV）可能报告季度亏损为每股0.17美元，营收为57万美元。</li><li>亚历山大（纽约证券交易所股票代码：ALX）可能会公布第二季度收益。</li><li>法拉利（纽约证券交易所股票代码：RACE）预计季度收益为每股1.20美元，营收为12.5亿美元。</li><li><a href=\"https://laohu8.com/S/GPRE\">绿色平原</a>（纳斯达克股票代码：GPRE）可能报告季度亏损为每股0.23美元，营收为7.1542亿美元。</li><li><a href=\"https://laohu8.com/S/CRNT\">Ceragon网络</a>（纳斯达克股票代码：CRNT）预计季度亏损为每股0.04美元，营收为6513万美元。</li><li><a href=\"https://laohu8.com/S/GPN\">全球支付</a>（纽约证券交易所股票代码：GPN）可能公布季度收益为每股1.89美元，营收为18.5亿美元。</li><li><a href=\"https://laohu8.com/S/TSEM\">塔式半导体</a>（纳斯达克：TSEM）预计季度收益为每股0.33美元，营收为3.5975亿美元。</li><li>DSP Group（纳斯达克股票代码：DSPG）可能公布季度收益为每股0.08美元，营收为3500万美元。</li><li><a href=\"https://laohu8.com/S/GNBC\">绿色</a>Plains Partners（纳斯达克：GPP）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/TKR\">铁姆肯</a>（纽约证券交易所股票代码：TKR）预计季度收益为每股1.45美元，营收为10.5亿美元。</li><li><a href=\"https://laohu8.com/S/STL\">英镑</a>Bancorp（纳斯达克股票代码：SBT）预计季度收益为每股0.06美元，营收为2317万美元。</li><li>JELD-WEN Holding（纽约证券交易所股票代码：JELD）预计季度收益为每股0.61美元，营收为11.6亿美元。</li><li><a href=\"https://laohu8.com/S/ON\">安森美半导体</a>（纳斯达克：ON）预计季度收益为每股0.49美元，营收为16.2亿美元。</li><li>KnowBe4（纳斯达克：KNBE）可能报告季度亏损为每股0.02美元，营收为5637万美元。</li><li><a href=\"https://laohu8.com/S/RADA\">拉达电子</a>Industri（纳斯达克：RADA）预计季度收益为每股0.09美元，营收为2798万美元。</li><li>Hayward Holdings（纽约证券交易所股票代码：HAYW）预计季度收益为每股0.28美元，营收为3.3928亿美元。</li><li>DBV Technologies（纳斯达克股票代码：DBVT）预计季度亏损为每股0.57美元，营收为318万美元。</li><li>RumbleON（纳斯达克：RMBL）可能公布季度收益为每股0.06美元，营收为1.434亿美元。</li><li>CNA Financial（纽约证券交易所股票代码：CNA）预计季度收益为每股1.11美元，营收为20.6亿美元。</li><li><a href=\"https://laohu8.com/S/ARCB\">ArcBest</a>（纳斯达克股票代码：ARCB）预计季度收益为每股1.61美元，营收为9.1595亿美元。</li><li><a href=\"https://laohu8.com/S/L\">洛伊斯</a>（纽约证券交易所股票代码：L）可能会公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/MTU\">三菱UFJ</a>金融公司（纽约证券交易所股票代码：MUFG）可能会公布第一季度收益。</li></ul><b>盘后报告的公司</b></blockquote></p><p></p><p> <ul>  <li><a href=\"https://laohu8.com/S/IPI\">Intrepid Potash</a> (NYSE:IPI) is projected to report earnings for its second quarter.</li>  <li>Ramaco Resources (NASDAQ:METC) is expected to report earnings for its second quarter.</li>  <li>MISTRAS Group (NYSE:MG) is estimated to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/RARE\">Ultragenyx Pharmaceutical</a> (NASDAQ:RARE) is estimated to report earnings for its second quarter.</li>  <li>NCS Multistage Holdings (NASDAQ:NCSM) is likely to report earnings for its second quarter.</li>  <li>Itau Unibanco Holding (NYSE:ITUB) is estimated to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/SPNE\">SeaSpine</a> Holdings (NASDAQ:SPNE) is projected to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/STRL\">Sterling Construction</a> Co (NASDAQ:STRL) is projected to report earnings for its second quarter.</li>  <li>Black <a href=\"https://laohu8.com/S/SGY\">Stone</a> <a href=\"https://laohu8.com/S/MTX\">Minerals</a> (NYSE:BSM) is expected to report earnings for its second quarter.</li>  <li>Ciner Resources (NYSE:CINR) is projected to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/SANM\">Sanmina</a> (NASDAQ:SANM) is likely to report earnings for its third quarter.</li>  <li>SBA <a href=\"https://laohu8.com/S/JCS\">Communications</a> (NASDAQ:SBAC) is projected to report quarterly earnings at $0.68 per share on revenue of $558.05 million.</li>  <li><a href=\"https://laohu8.com/S/ADUS\">Addus HomeCare</a> (NASDAQ:ADUS) is expected to report quarterly earnings at $0.89 per share on revenue of $216.83 million.</li>  <li><a href=\"https://laohu8.com/S/ANET\">Arista Networks</a> (NYSE:ANET) is likely to report quarterly earnings at $2.54 per share on revenue of $687.32 million.</li>  <li><a href=\"https://laohu8.com/S/UIS\">Unisys</a> (NYSE:UIS) is expected to report quarterly earnings at $0.33 per share on revenue of $485.57 million.</li>  <li><a href=\"https://laohu8.com/S/WMB\">Williams</a> Companies (NYSE:WMB) is projected to report quarterly earnings at $0.28 per share on revenue of $1.96 billion.</li>  <li><a href=\"https://laohu8.com/S/ACHC\">Acadia Healthcare</a> Co (NASDAQ:ACHC) is estimated to report quarterly earnings at $0.63 per share on revenue of $560.83 million.</li>  <li><a href=\"https://laohu8.com/S/TTWO\">Take-Two</a> Interactive (NASDAQ:TTWO) is projected to report quarterly earnings at $0.89 per share on revenue of $689.22 million.</li>  <li><a href=\"https://laohu8.com/S/AWR\">American States Water</a> (NYSE:AWR) is likely to report quarterly earnings at $0.69 per share on revenue of $121.54 million.</li>  <li><a href=\"https://laohu8.com/S/NSP\">Insperity</a> (NYSE:NSP) is likely to report quarterly earnings at $0.66 per share on revenue of $1.10 billion.</li>  <li><a href=\"https://laohu8.com/S/O\">Realty Income</a> (NYSE:O) is estimated to report quarterly earnings at $0.37 per share on revenue of $442.42 million.</li>  <li><a href=\"https://laohu8.com/S/BRX\">Brixmor Property</a> Group (NYSE:BRX) is expected to report quarterly earnings at $0.14 per share on revenue of $274.32 million.</li>  <li><a href=\"https://laohu8.com/S/CSWC\">Capital Southwest</a> (NASDAQ:CSWC) is likely to report quarterly earnings at $0.43 per share on revenue of $18.36 million.</li>  <li><a href=\"https://laohu8.com/S/BVN\">Buenaventura Mining</a> Co (NYSE:BVN) is expected to report quarterly earnings at $0.27 per share on revenue of $286.47 million.</li>  <li><a href=\"https://laohu8.com/S/AGII\">Argo</a> Gr Intl Hldgs (NYSE:ARGO) is likely to report quarterly earnings at $0.93 per share on revenue of $461.60 million.</li>  <li><a href=\"https://laohu8.com/S/RIG\">Transocean</a> (NYSE:RIG) is estimated to report quarterly loss at $0.16 per share on revenue of $675.89 million.</li>  <li><a href=\"https://laohu8.com/S/AWK\">American Water</a> Works Co (NYSE:AWK) is projected to report quarterly earnings at $1.09 per share on revenue of $1.01 billion.</li>  <li>Clarus (NASDAQ:CLAR) is estimated to report quarterly earnings at $0.18 per share on revenue of $66.51 million.</li>  <li><a href=\"https://laohu8.com/S/TTI\">Tetra</a> Technologies (NYSE:TTI) is projected to report quarterly earnings at $0.01 per share on revenue of $106.95 million.</li>  <li><a href=\"https://laohu8.com/S/RMBS\">Rambus</a> (NASDAQ:RMBS) is estimated to report quarterly earnings at $0.31 per share on revenue of $106.90 million.</li>  <li><a href=\"https://laohu8.com/S/SEDG\">SolarEdge</a> Technologies (NASDAQ:SEDG) is projected to report quarterly earnings at $1.12 per share on revenue of $454.69 million.</li>  <li><a href=\"https://laohu8.com/S/AMRC\">Ameresco</a> (NYSE:AMRC) is expected to report quarterly earnings at $0.26 per share on revenue of $259.86 million.</li>  <li>BWX Technologies (NYSE:BWXT) is likely to report quarterly earnings at $0.72 per share on revenue of $522.68 million.</li>  <li><a href=\"https:/</p><p><blockquote><ul><li><a href=\"https://laohu8.com/S/IPI\">无畏钾肥</a>（纽约证券交易所股票代码：IPI）预计将公布第二季度收益。</li><li>Ramaco Resources（纳斯达克股票代码：METC）预计将公布第二季度收益。</li><li>MISTRAS Group（纽约证券交易所股票代码：MG）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/RARE\">Ultragenyx制药</a>（纳斯达克：罕见）预计将公布第二季度收益。</li><li>NCS Multistage Holdings（纳斯达克：NCSM）可能会公布第二季度收益。</li><li>Itau Unibanco Holding（纽约证券交易所股票代码：ITUB）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/SPNE\">海松</a>控股公司（纳斯达克股票代码：SPNE）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/STRL\">斯特林建筑公司</a>Co（纳斯达克股票代码：STRL）预计将公布第二季度收益。</li><li>黑色<a href=\"https://laohu8.com/S/SGY\">石头</a><a href=\"https://laohu8.com/S/MTX\">矿物</a>（纽约证券交易所股票代码：BSM）预计将公布第二季度收益。</li><li>Ciner Resources（纽约证券交易所股票代码：CINR）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/SANM\">桑米纳</a>（纳斯达克：SANM）可能会公布第三季度收益。</li><li>小型企业管理局<a href=\"https://laohu8.com/S/JCS\">通讯</a>（纳斯达克股票代码：SBAC）预计季度收益为每股0.68美元，营收为5.5805亿美元。</li><li><a href=\"https://laohu8.com/S/ADUS\">Addus家庭护理</a>（纳斯达克股票代码：ADUS）预计季度收益为每股0.89美元，营收为2.1683亿美元。</li><li><a href=\"https://laohu8.com/S/ANET\">阿里斯塔网络</a>（纽约证券交易所股票代码：ANET）可能公布季度收益为每股2.54美元，营收为6.8732亿美元。</li><li><a href=\"https://laohu8.com/S/UIS\">Unisys</a>（纽约证券交易所股票代码：UIS）预计季度收益为每股0.33美元，营收为4.8557亿美元。</li><li><a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>Companies（纽约证券交易所股票代码：WMB）预计季度收益为每股0.28美元，营收为19.6亿美元。</li><li><a href=\"https://laohu8.com/S/ACHC\">阿卡迪亚医疗保健</a>Co（纳斯达克股票代码：ACHC）预计季度收益为每股0.63美元，营收为5.6083亿美元。</li><li><a href=\"https://laohu8.com/S/TTWO\">Take-Two</a>Interactive（纳斯达克股票代码：TTWO）预计季度收益为每股0.89美元，营收为6.8922亿美元。</li><li><a href=\"https://laohu8.com/S/AWR\">美国各州水务</a>（纽约证券交易所股票代码：AWR）可能公布季度收益为每股0.69美元，营收为1.2154亿美元。</li><li><a href=\"https://laohu8.com/S/NSP\">创新</a>（纽约证券交易所股票代码：NSP）可能公布季度收益为每股0.66美元，营收为11亿美元。</li><li><a href=\"https://laohu8.com/S/O\">房地产收入</a>（纽约证券交易所股票代码：O）预计季度收益为每股0.37美元，营收为4.4242亿美元。</li><li><a href=\"https://laohu8.com/S/BRX\">布里克斯莫尔财产</a>集团（纽约证券交易所股票代码：BRX）预计季度收益为每股0.14美元，营收为2.7432亿美元。</li><li><a href=\"https://laohu8.com/S/CSWC\">首都西南</a>（纳斯达克股票代码：CSWC）可能公布季度收益为每股0.43美元，营收为1836万美元。</li><li><a href=\"https://laohu8.com/S/BVN\">布埃纳文图拉矿业公司</a>Co（纽约证券交易所股票代码：BVN）预计季度收益为每股0.27美元，营收为2.8647亿美元。</li><li><a href=\"https://laohu8.com/S/AGII\">阿尔戈</a>Gr Intl Hldgs（纽约证券交易所股票代码：ARGO）可能公布季度收益为每股0.93美元，营收为4.616亿美元。</li><li><a href=\"https://laohu8.com/S/RIG\">越洋</a>（纽约证券交易所股票代码：RIG）预计季度亏损为每股0.16美元，营收为6.7589亿美元。</li><li><a href=\"https://laohu8.com/S/AWK\">美国水务公司</a>Works Co（纽约证券交易所股票代码：AWK）预计季度收益为每股1.09美元，营收为10.1亿美元。</li><li>Clarus（纳斯达克股票代码：CLAR）预计季度收益为每股0.18美元，营收为6651万美元。</li><li><a href=\"https://laohu8.com/S/TTI\">Tetra</a>Technologies（纽约证券交易所股票代码：TTI）预计季度收益为每股0.01美元，营收为1.0695亿美元。</li><li><a href=\"https://laohu8.com/S/RMBS\">Rambus</a>（纳斯达克：RMBS）预计季度收益为每股0.31美元，营收为1.069亿美元。</li><li><a href=\"https://laohu8.com/S/SEDG\">SolarEdge</a>Technologies（纳斯达克股票代码：SEDG）预计季度收益为每股1.12美元，营收为4.5469亿美元。</li><li><a href=\"https://laohu8.com/S/AMRC\">美国人</a>（纽约证券交易所股票代码：AMRC）预计季度收益为每股0.26美元，营收为2.5986亿美元。</li><li>BWX Technologies（纽约证券交易所股票代码：BWXT）可能公布季度收益为每股0.72美元，营收为5.2268亿美元。</li><li>&lt;a href=\"https：/</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>Earnings Scheduled For August 2, 2021<blockquote>预计2021年8月2日收益</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\">\nEarnings Scheduled For August 2, 2021<blockquote>预计2021年8月2日收益</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-08-02 16:32</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Companies Reporting Before The Bell</b></p><p><blockquote><b>公司在盘前发布报告</b></blockquote></p><p> <ul>  <li>HSBC Holdings (NYSE:HSBC) is estimated to report earnings for its second quarter.</li>  <li>Addex Therapeutics (NASDAQ:ADXN) is estimated to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/TGTX\">TG Therapeutics</a> (NASDAQ:TGTX) is expected to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/NERV\">Minerva Neurosciences</a> (NASDAQ:NERV) is likely to report quarterly loss at $0.17 per share on revenue of $570.00 thousand.</li>  <li>Alexander's (NYSE:ALX) is likely to report earnings for its second quarter.</li>  <li>Ferrari (NYSE:RACE) is projected to report quarterly earnings at $1.20 per share on revenue of $1.25 billion.</li>  <li><a href=\"https://laohu8.com/S/GPRE\">Green Plains</a> (NASDAQ:GPRE) is likely to report quarterly loss at $0.23 per share on revenue of $715.42 million.</li>  <li><a href=\"https://laohu8.com/S/CRNT\">Ceragon Networks</a> (NASDAQ:CRNT) is estimated to report quarterly loss at $0.04 per share on revenue of $65.13 million.</li>  <li><a href=\"https://laohu8.com/S/GPN\">Global Payments</a> (NYSE:GPN) is likely to report quarterly earnings at $1.89 per share on revenue of $1.85 billion.</li>  <li><a href=\"https://laohu8.com/S/TSEM\">Tower Semiconductor</a> (NASDAQ:TSEM) is expected to report quarterly earnings at $0.33 per share on revenue of $359.75 million.</li>  <li>DSP Group (NASDAQ:DSPG) is likely to report quarterly earnings at $0.08 per share on revenue of $35.00 million.</li>  <li><a href=\"https://laohu8.com/S/GNBC\">Green</a> Plains Partners (NASDAQ:GPP) is estimated to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/TKR\">Timken</a> (NYSE:TKR) is projected to report quarterly earnings at $1.45 per share on revenue of $1.05 billion.</li>  <li><a href=\"https://laohu8.com/S/STL\">Sterling</a> Bancorp (NASDAQ:SBT) is projected to report quarterly earnings at $0.06 per share on revenue of $23.17 million.</li>  <li>JELD-WEN Holding (NYSE:JELD) is estimated to report quarterly earnings at $0.61 per share on revenue of $1.16 billion.</li>  <li><a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> (NASDAQ:ON) is expected to report quarterly earnings at $0.49 per share on revenue of $1.62 billion.</li>  <li>KnowBe4 (NASDAQ:KNBE) is likely to report quarterly loss at $0.02 per share on revenue of $56.37 million.</li>  <li><a href=\"https://laohu8.com/S/RADA\">Rada Electronics</a> Industri (NASDAQ:RADA) is projected to report quarterly earnings at $0.09 per share on revenue of $27.98 million.</li>  <li>Hayward Holdings (NYSE:HAYW) is projected to report quarterly earnings at $0.28 per share on revenue of $339.28 million.</li>  <li>DBV Technologies (NASDAQ:DBVT) is projected to report quarterly loss at $0.57 per share on revenue of $3.18 million.</li>  <li>RumbleON (NASDAQ:RMBL) is likely to report quarterly earnings at $0.06 per share on revenue of $143.40 million.</li>  <li>CNA Financial (NYSE:CNA) is projected to report quarterly earnings at $1.11 per share on revenue of $2.06 billion.</li>  <li><a href=\"https://laohu8.com/S/ARCB\">ArcBest</a> (NASDAQ:ARCB) is expected to report quarterly earnings at $1.61 per share on revenue of $915.95 million.</li>  <li><a href=\"https://laohu8.com/S/L\">Loews</a> (NYSE:L) is likely to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/MTU\">Mitsubishi UFJ</a> Financial (NYSE:MUFG) is likely to report earnings for its first quarter.</li> </ul> <b>Companies Reporting After The Bell</b></p><p><blockquote><ul><li>汇丰控股（纽约证券交易所股票代码：HSBC）预计将公布第二季度收益。</li><li>Addex Therapeutics（纳斯达克股票代码：ADXN）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/TGTX\">TG治疗</a>（纳斯达克：TGTX）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/NERV\">密涅瓦神经科学</a>（纳斯达克：NERV）可能报告季度亏损为每股0.17美元，营收为57万美元。</li><li>亚历山大（纽约证券交易所股票代码：ALX）可能会公布第二季度收益。</li><li>法拉利（纽约证券交易所股票代码：RACE）预计季度收益为每股1.20美元，营收为12.5亿美元。</li><li><a href=\"https://laohu8.com/S/GPRE\">绿色平原</a>（纳斯达克股票代码：GPRE）可能报告季度亏损为每股0.23美元，营收为7.1542亿美元。</li><li><a href=\"https://laohu8.com/S/CRNT\">Ceragon网络</a>（纳斯达克股票代码：CRNT）预计季度亏损为每股0.04美元，营收为6513万美元。</li><li><a href=\"https://laohu8.com/S/GPN\">全球支付</a>（纽约证券交易所股票代码：GPN）可能公布季度收益为每股1.89美元，营收为18.5亿美元。</li><li><a href=\"https://laohu8.com/S/TSEM\">塔式半导体</a>（纳斯达克：TSEM）预计季度收益为每股0.33美元，营收为3.5975亿美元。</li><li>DSP Group（纳斯达克股票代码：DSPG）可能公布季度收益为每股0.08美元，营收为3500万美元。</li><li><a href=\"https://laohu8.com/S/GNBC\">绿色</a>Plains Partners（纳斯达克：GPP）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/TKR\">铁姆肯</a>（纽约证券交易所股票代码：TKR）预计季度收益为每股1.45美元，营收为10.5亿美元。</li><li><a href=\"https://laohu8.com/S/STL\">英镑</a>Bancorp（纳斯达克股票代码：SBT）预计季度收益为每股0.06美元，营收为2317万美元。</li><li>JELD-WEN Holding（纽约证券交易所股票代码：JELD）预计季度收益为每股0.61美元，营收为11.6亿美元。</li><li><a href=\"https://laohu8.com/S/ON\">安森美半导体</a>（纳斯达克：ON）预计季度收益为每股0.49美元，营收为16.2亿美元。</li><li>KnowBe4（纳斯达克：KNBE）可能报告季度亏损为每股0.02美元，营收为5637万美元。</li><li><a href=\"https://laohu8.com/S/RADA\">拉达电子</a>Industri（纳斯达克：RADA）预计季度收益为每股0.09美元，营收为2798万美元。</li><li>Hayward Holdings（纽约证券交易所股票代码：HAYW）预计季度收益为每股0.28美元，营收为3.3928亿美元。</li><li>DBV Technologies（纳斯达克股票代码：DBVT）预计季度亏损为每股0.57美元，营收为318万美元。</li><li>RumbleON（纳斯达克：RMBL）可能公布季度收益为每股0.06美元，营收为1.434亿美元。</li><li>CNA Financial（纽约证券交易所股票代码：CNA）预计季度收益为每股1.11美元，营收为20.6亿美元。</li><li><a href=\"https://laohu8.com/S/ARCB\">ArcBest</a>（纳斯达克股票代码：ARCB）预计季度收益为每股1.61美元，营收为9.1595亿美元。</li><li><a href=\"https://laohu8.com/S/L\">洛伊斯</a>（纽约证券交易所股票代码：L）可能会公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/MTU\">三菱UFJ</a>金融公司（纽约证券交易所股票代码：MUFG）可能会公布第一季度收益。</li></ul><b>盘后报告的公司</b></blockquote></p><p></p><p> <ul>  <li><a href=\"https://laohu8.com/S/IPI\">Intrepid Potash</a> (NYSE:IPI) is projected to report earnings for its second quarter.</li>  <li>Ramaco Resources (NASDAQ:METC) is expected to report earnings for its second quarter.</li>  <li>MISTRAS Group (NYSE:MG) is estimated to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/RARE\">Ultragenyx Pharmaceutical</a> (NASDAQ:RARE) is estimated to report earnings for its second quarter.</li>  <li>NCS Multistage Holdings (NASDAQ:NCSM) is likely to report earnings for its second quarter.</li>  <li>Itau Unibanco Holding (NYSE:ITUB) is estimated to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/SPNE\">SeaSpine</a> Holdings (NASDAQ:SPNE) is projected to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/STRL\">Sterling Construction</a> Co (NASDAQ:STRL) is projected to report earnings for its second quarter.</li>  <li>Black <a href=\"https://laohu8.com/S/SGY\">Stone</a> <a href=\"https://laohu8.com/S/MTX\">Minerals</a> (NYSE:BSM) is expected to report earnings for its second quarter.</li>  <li>Ciner Resources (NYSE:CINR) is projected to report earnings for its second quarter.</li>  <li><a href=\"https://laohu8.com/S/SANM\">Sanmina</a> (NASDAQ:SANM) is likely to report earnings for its third quarter.</li>  <li>SBA <a href=\"https://laohu8.com/S/JCS\">Communications</a> (NASDAQ:SBAC) is projected to report quarterly earnings at $0.68 per share on revenue of $558.05 million.</li>  <li><a href=\"https://laohu8.com/S/ADUS\">Addus HomeCare</a> (NASDAQ:ADUS) is expected to report quarterly earnings at $0.89 per share on revenue of $216.83 million.</li>  <li><a href=\"https://laohu8.com/S/ANET\">Arista Networks</a> (NYSE:ANET) is likely to report quarterly earnings at $2.54 per share on revenue of $687.32 million.</li>  <li><a href=\"https://laohu8.com/S/UIS\">Unisys</a> (NYSE:UIS) is expected to report quarterly earnings at $0.33 per share on revenue of $485.57 million.</li>  <li><a href=\"https://laohu8.com/S/WMB\">Williams</a> Companies (NYSE:WMB) is projected to report quarterly earnings at $0.28 per share on revenue of $1.96 billion.</li>  <li><a href=\"https://laohu8.com/S/ACHC\">Acadia Healthcare</a> Co (NASDAQ:ACHC) is estimated to report quarterly earnings at $0.63 per share on revenue of $560.83 million.</li>  <li><a href=\"https://laohu8.com/S/TTWO\">Take-Two</a> Interactive (NASDAQ:TTWO) is projected to report quarterly earnings at $0.89 per share on revenue of $689.22 million.</li>  <li><a href=\"https://laohu8.com/S/AWR\">American States Water</a> (NYSE:AWR) is likely to report quarterly earnings at $0.69 per share on revenue of $121.54 million.</li>  <li><a href=\"https://laohu8.com/S/NSP\">Insperity</a> (NYSE:NSP) is likely to report quarterly earnings at $0.66 per share on revenue of $1.10 billion.</li>  <li><a href=\"https://laohu8.com/S/O\">Realty Income</a> (NYSE:O) is estimated to report quarterly earnings at $0.37 per share on revenue of $442.42 million.</li>  <li><a href=\"https://laohu8.com/S/BRX\">Brixmor Property</a> Group (NYSE:BRX) is expected to report quarterly earnings at $0.14 per share on revenue of $274.32 million.</li>  <li><a href=\"https://laohu8.com/S/CSWC\">Capital Southwest</a> (NASDAQ:CSWC) is likely to report quarterly earnings at $0.43 per share on revenue of $18.36 million.</li>  <li><a href=\"https://laohu8.com/S/BVN\">Buenaventura Mining</a> Co (NYSE:BVN) is expected to report quarterly earnings at $0.27 per share on revenue of $286.47 million.</li>  <li><a href=\"https://laohu8.com/S/AGII\">Argo</a> Gr Intl Hldgs (NYSE:ARGO) is likely to report quarterly earnings at $0.93 per share on revenue of $461.60 million.</li>  <li><a href=\"https://laohu8.com/S/RIG\">Transocean</a> (NYSE:RIG) is estimated to report quarterly loss at $0.16 per share on revenue of $675.89 million.</li>  <li><a href=\"https://laohu8.com/S/AWK\">American Water</a> Works Co (NYSE:AWK) is projected to report quarterly earnings at $1.09 per share on revenue of $1.01 billion.</li>  <li>Clarus (NASDAQ:CLAR) is estimated to report quarterly earnings at $0.18 per share on revenue of $66.51 million.</li>  <li><a href=\"https://laohu8.com/S/TTI\">Tetra</a> Technologies (NYSE:TTI) is projected to report quarterly earnings at $0.01 per share on revenue of $106.95 million.</li>  <li><a href=\"https://laohu8.com/S/RMBS\">Rambus</a> (NASDAQ:RMBS) is estimated to report quarterly earnings at $0.31 per share on revenue of $106.90 million.</li>  <li><a href=\"https://laohu8.com/S/SEDG\">SolarEdge</a> Technologies (NASDAQ:SEDG) is projected to report quarterly earnings at $1.12 per share on revenue of $454.69 million.</li>  <li><a href=\"https://laohu8.com/S/AMRC\">Ameresco</a> (NYSE:AMRC) is expected to report quarterly earnings at $0.26 per share on revenue of $259.86 million.</li>  <li>BWX Technologies (NYSE:BWXT) is likely to report quarterly earnings at $0.72 per share on revenue of $522.68 million.</li>  <li><a href=\"https:/</p><p><blockquote><ul><li><a href=\"https://laohu8.com/S/IPI\">无畏钾肥</a>（纽约证券交易所股票代码：IPI）预计将公布第二季度收益。</li><li>Ramaco Resources（纳斯达克股票代码：METC）预计将公布第二季度收益。</li><li>MISTRAS Group（纽约证券交易所股票代码：MG）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/RARE\">Ultragenyx制药</a>（纳斯达克：罕见）预计将公布第二季度收益。</li><li>NCS Multistage Holdings（纳斯达克：NCSM）可能会公布第二季度收益。</li><li>Itau Unibanco Holding（纽约证券交易所股票代码：ITUB）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/SPNE\">海松</a>控股公司（纳斯达克股票代码：SPNE）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/STRL\">斯特林建筑公司</a>Co（纳斯达克股票代码：STRL）预计将公布第二季度收益。</li><li>黑色<a href=\"https://laohu8.com/S/SGY\">石头</a><a href=\"https://laohu8.com/S/MTX\">矿物</a>（纽约证券交易所股票代码：BSM）预计将公布第二季度收益。</li><li>Ciner Resources（纽约证券交易所股票代码：CINR）预计将公布第二季度收益。</li><li><a href=\"https://laohu8.com/S/SANM\">桑米纳</a>（纳斯达克：SANM）可能会公布第三季度收益。</li><li>小型企业管理局<a href=\"https://laohu8.com/S/JCS\">通讯</a>（纳斯达克股票代码：SBAC）预计季度收益为每股0.68美元，营收为5.5805亿美元。</li><li><a href=\"https://laohu8.com/S/ADUS\">Addus家庭护理</a>（纳斯达克股票代码：ADUS）预计季度收益为每股0.89美元，营收为2.1683亿美元。</li><li><a href=\"https://laohu8.com/S/ANET\">阿里斯塔网络</a>（纽约证券交易所股票代码：ANET）可能公布季度收益为每股2.54美元，营收为6.8732亿美元。</li><li><a href=\"https://laohu8.com/S/UIS\">Unisys</a>（纽约证券交易所股票代码：UIS）预计季度收益为每股0.33美元，营收为4.8557亿美元。</li><li><a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>Companies（纽约证券交易所股票代码：WMB）预计季度收益为每股0.28美元，营收为19.6亿美元。</li><li><a href=\"https://laohu8.com/S/ACHC\">阿卡迪亚医疗保健</a>Co（纳斯达克股票代码：ACHC）预计季度收益为每股0.63美元，营收为5.6083亿美元。</li><li><a href=\"https://laohu8.com/S/TTWO\">Take-Two</a>Interactive（纳斯达克股票代码：TTWO）预计季度收益为每股0.89美元，营收为6.8922亿美元。</li><li><a href=\"https://laohu8.com/S/AWR\">美国各州水务</a>（纽约证券交易所股票代码：AWR）可能公布季度收益为每股0.69美元，营收为1.2154亿美元。</li><li><a href=\"https://laohu8.com/S/NSP\">创新</a>（纽约证券交易所股票代码：NSP）可能公布季度收益为每股0.66美元，营收为11亿美元。</li><li><a href=\"https://laohu8.com/S/O\">房地产收入</a>（纽约证券交易所股票代码：O）预计季度收益为每股0.37美元，营收为4.4242亿美元。</li><li><a href=\"https://laohu8.com/S/BRX\">布里克斯莫尔财产</a>集团（纽约证券交易所股票代码：BRX）预计季度收益为每股0.14美元，营收为2.7432亿美元。</li><li><a href=\"https://laohu8.com/S/CSWC\">首都西南</a>（纳斯达克股票代码：CSWC）可能公布季度收益为每股0.43美元，营收为1836万美元。</li><li><a href=\"https://laohu8.com/S/BVN\">布埃纳文图拉矿业公司</a>Co（纽约证券交易所股票代码：BVN）预计季度收益为每股0.27美元，营收为2.8647亿美元。</li><li><a href=\"https://laohu8.com/S/AGII\">阿尔戈</a>Gr Intl Hldgs（纽约证券交易所股票代码：ARGO）可能公布季度收益为每股0.93美元，营收为4.616亿美元。</li><li><a href=\"https://laohu8.com/S/RIG\">越洋</a>（纽约证券交易所股票代码：RIG）预计季度亏损为每股0.16美元，营收为6.7589亿美元。</li><li><a href=\"https://laohu8.com/S/AWK\">美国水务公司</a>Works Co（纽约证券交易所股票代码：AWK）预计季度收益为每股1.09美元，营收为10.1亿美元。</li><li>Clarus（纳斯达克股票代码：CLAR）预计季度收益为每股0.18美元，营收为6651万美元。</li><li><a href=\"https://laohu8.com/S/TTI\">Tetra</a>Technologies（纽约证券交易所股票代码：TTI）预计季度收益为每股0.01美元，营收为1.0695亿美元。</li><li><a href=\"https://laohu8.com/S/RMBS\">Rambus</a>（纳斯达克：RMBS）预计季度收益为每股0.31美元，营收为1.069亿美元。</li><li><a href=\"https://laohu8.com/S/SEDG\">SolarEdge</a>Technologies（纳斯达克股票代码：SEDG）预计季度收益为每股1.12美元，营收为4.5469亿美元。</li><li><a href=\"https://laohu8.com/S/AMRC\">美国人</a>（纽约证券交易所股票代码：AMRC）预计季度收益为每股0.26美元，营收为2.5986亿美元。</li><li>BWX Technologies（纽约证券交易所股票代码：BWXT）可能公布季度收益为每股0.72美元，营收为5.2268亿美元。</li><li>&lt;a href=\"https：/</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184394577","content_text":"Companies Reporting Before The Bell\n\nHSBC Holdings (NYSE:HSBC) is estimated to report earnings for its second quarter.\nAddex Therapeutics (NASDAQ:ADXN) is estimated to report earnings for its second quarter.\nTG Therapeutics (NASDAQ:TGTX) is expected to report earnings for its second quarter.\nMinerva Neurosciences (NASDAQ:NERV) is likely to report quarterly loss at $0.17 per share on revenue of $570.00 thousand.\nAlexander's (NYSE:ALX) is likely to report earnings for its second quarter.\nFerrari (NYSE:RACE) is projected to report quarterly earnings at $1.20 per share on revenue of $1.25 billion.\nGreen Plains (NASDAQ:GPRE) is likely to report quarterly loss at $0.23 per share on revenue of $715.42 million.\nCeragon Networks (NASDAQ:CRNT) is estimated to report quarterly loss at $0.04 per share on revenue of $65.13 million.\nGlobal Payments (NYSE:GPN) is likely to report quarterly earnings at $1.89 per share on revenue of $1.85 billion.\nTower Semiconductor (NASDAQ:TSEM) is expected to report quarterly earnings at $0.33 per share on revenue of $359.75 million.\nDSP Group (NASDAQ:DSPG) is likely to report quarterly earnings at $0.08 per share on revenue of $35.00 million.\nGreen Plains Partners (NASDAQ:GPP) is estimated to report earnings for its second quarter.\nTimken (NYSE:TKR) is projected to report quarterly earnings at $1.45 per share on revenue of $1.05 billion.\nSterling Bancorp (NASDAQ:SBT) is projected to report quarterly earnings at $0.06 per share on revenue of $23.17 million.\nJELD-WEN Holding (NYSE:JELD) is estimated to report quarterly earnings at $0.61 per share on revenue of $1.16 billion.\nON Semiconductor (NASDAQ:ON) is expected to report quarterly earnings at $0.49 per share on revenue of $1.62 billion.\nKnowBe4 (NASDAQ:KNBE) is likely to report quarterly loss at $0.02 per share on revenue of $56.37 million.\nRada Electronics Industri (NASDAQ:RADA) is projected to report quarterly earnings at $0.09 per share on revenue of $27.98 million.\nHayward Holdings (NYSE:HAYW) is projected to report quarterly earnings at $0.28 per share on revenue of $339.28 million.\nDBV Technologies (NASDAQ:DBVT) is projected to report quarterly loss at $0.57 per share on revenue of $3.18 million.\nRumbleON (NASDAQ:RMBL) is likely to report quarterly earnings at $0.06 per share on revenue of $143.40 million.\nCNA Financial (NYSE:CNA) is projected to report quarterly earnings at $1.11 per share on revenue of $2.06 billion.\nArcBest (NASDAQ:ARCB) is expected to report quarterly earnings at $1.61 per share on revenue of $915.95 million.\nLoews (NYSE:L) is likely to report earnings for its second quarter.\nMitsubishi UFJ Financial (NYSE:MUFG) is likely to report earnings for its first quarter.\n\nCompanies Reporting After The Bell\n\nIntrepid Potash (NYSE:IPI) is projected to report earnings for its second quarter.\nRamaco Resources (NASDAQ:METC) is expected to report earnings for its second quarter.\nMISTRAS Group (NYSE:MG) is estimated to report earnings for its second quarter.\nUltragenyx Pharmaceutical (NASDAQ:RARE) is estimated to report earnings for its second quarter.\nNCS Multistage Holdings (NASDAQ:NCSM) is likely to report earnings for its second quarter.\nItau Unibanco Holding (NYSE:ITUB) is estimated to report earnings for its second quarter.\nSeaSpine Holdings (NASDAQ:SPNE) is projected to report earnings for its second quarter.\nSterling Construction Co (NASDAQ:STRL) is projected to report earnings for its second quarter.\nBlack Stone Minerals (NYSE:BSM) is expected to report earnings for its second quarter.\nCiner Resources (NYSE:CINR) is projected to report earnings for its second quarter.\nSanmina (NASDAQ:SANM) is likely to report earnings for its third quarter.\nSBA Communications (NASDAQ:SBAC) is projected to report quarterly earnings at $0.68 per share on revenue of $558.05 million.\nAddus HomeCare (NASDAQ:ADUS) is expected to report quarterly earnings at $0.89 per share on revenue of $216.83 million.\nArista Networks (NYSE:ANET) is likely to report quarterly earnings at $2.54 per share on revenue of $687.32 million.\nUnisys (NYSE:UIS) is expected to report quarterly earnings at $0.33 per share on revenue of $485.57 million.\nWilliams Companies (NYSE:WMB) is projected to report quarterly earnings at $0.28 per share on revenue of $1.96 billion.\nAcadia Healthcare Co (NASDAQ:ACHC) is estimated to report quarterly earnings at $0.63 per share on revenue of $560.83 million.\nTake-Two Interactive (NASDAQ:TTWO) is projected to report quarterly earnings at $0.89 per share on revenue of $689.22 million.\nAmerican States Water (NYSE:AWR) is likely to report quarterly earnings at $0.69 per share on revenue of $121.54 million.\nInsperity (NYSE:NSP) is likely to report quarterly earnings at $0.66 per share on revenue of $1.10 billion.\nRealty Income (NYSE:O) is estimated to report quarterly earnings at $0.37 per share on revenue of $442.42 million.\nBrixmor Property Group (NYSE:BRX) is expected to report quarterly earnings at $0.14 per share on revenue of $274.32 million.\nCapital Southwest (NASDAQ:CSWC) is likely to report quarterly earnings at $0.43 per share on revenue of $18.36 million.\nBuenaventura Mining Co (NYSE:BVN) is expected to report quarterly earnings at $0.27 per share on revenue of $286.47 million.\nArgo Gr Intl Hldgs (NYSE:ARGO) is likely to report quarterly earnings at $0.93 per share on revenue of $461.60 million.\nTransocean (NYSE:RIG) is estimated to report quarterly loss at $0.16 per share on revenue of $675.89 million.\nAmerican Water Works Co (NYSE:AWK) is projected to report quarterly earnings at $1.09 per share on revenue of $1.01 billion.\nClarus (NASDAQ:CLAR) is estimated to report quarterly earnings at $0.18 per share on revenue of $66.51 million.\nTetra Technologies (NYSE:TTI) is projected to report quarterly earnings at $0.01 per share on revenue of $106.95 million.\nRambus (NASDAQ:RMBS) is estimated to report quarterly earnings at $0.31 per share on revenue of $106.90 million.\nSolarEdge Technologies (NASDAQ:SEDG) is projected to report quarterly earnings at $1.12 per share on revenue of $454.69 million.\nAmeresco (NYSE:AMRC) is expected to report quarterly earnings at $0.26 per share on revenue of $259.86 million.\nBWX Technologies (NYSE:BWXT) is likely to report quarterly earnings at $0.72 per share on revenue of $522.68 million.\nSimon Property Group (NYSE:SPG) is estimated to report quarterly earnings at $1.00 per share on revenue of $1.14 billion.\nUltra Clean Holdings (NASDAQ:UCTT) is expected to report quarterly earnings at $0.96 per share on revenue of $505.44 million.\nWoodward (NASDAQ:WWD) is likely to report quarterly earnings at $0.97 per share on revenue of $617.09 million.\nVornado Realty (NYSE:VNO) is expected to report quarterly earnings at $0.10 per share on revenue of $378.90 million.\nPioneer Natural Resources (NYSE:PXD) is estimated to report quarterly earnings at $2.61 per share on revenue of $2.15 billion.\nHorace Mann Educators (NYSE:HMN) is estimated to report quarterly earnings at $1.01 per share on revenue of $336.10 million.\nTrex Co (NYSE:TREX) is estimated to report quarterly earnings at $0.53 per share on revenue of $302.23 million.\nGaia (NASDAQ:GAIA) is projected to report quarterly earnings at $0.02 per share on revenue of $19.30 million.\nFreshpet (NASDAQ:FRPT) is expected to report quarterly loss at $0.04 per share on revenue of $106.08 million.\nMedallion Financial (NASDAQ:MFIN) is projected to report quarterly earnings at $0.29 per share on revenue of $30.91 million.\nOtter Tail (NASDAQ:OTTR) is projected to report quarterly earnings at $0.54 per share on revenue of $224.12 million.\nIntevac (NASDAQ:IVAC) is projected to report quarterly loss at $0.26 per share on revenue of $12.75 million.\nDiamondback Energy (NASDAQ:FANG) is estimated to report quarterly earnings at $2.12 per share on revenue of $1.32 billion.\nONE Gas (NYSE:OGS) is projected to report quarterly earnings at $0.51 per share on revenue of $279.07 million.\nHarmonic (NASDAQ:HLIT) is projected to report earnings for its second quarter.\nGladstone Investment (NASDAQ:GAIN) is projected to report quarterly earnings at $0.19 per share on revenue of $15.15 million.\nStellus Cap Investment (NYSE:SCM) is projected to report quarterly earnings at $0.28 per share on revenue of $15.04 million.\nCenterspace (NYSE:CSR) is expected to report quarterly earnings at $0.03 per share on revenue of $46.73 million.\nDouglas Dynamics (NYSE:PLOW) is projected to report quarterly earnings at $0.63 per share on revenue of $141.53 million.\nCVR Partners (NYSE:UAN) is estimated to report earnings for its second quarter.\nViper Energy Partners (NASDAQ:VNOM) is likely to report quarterly earnings at $0.09 per share on revenue of $85.21 million.\nSI-BONE (NASDAQ:SIBN) is expected to report quarterly loss at $0.39 per share on revenue of $21.96 million.\nVaronis Systems (NASDAQ:VRNS) is likely to report quarterly loss at $0.03 per share on revenue of $83.68 million.\nTactile Systems Tech (NASDAQ:TCMD) is projected to report quarterly earnings at $0.01 per share on revenue of $49.92 million.\nEllington Residential (NYSE:EARN) is estimated to report quarterly earnings at $0.32 per share on revenue of $5.33 million.\nEverQuote (NASDAQ:EVER) is projected to report quarterly loss at $0.10 per share on revenue of $102.29 million.\nDZS (NASDAQ:DZSI) is likely to report quarterly loss at $0.03 per share on revenue of $78.59 million.\nZoomInfo Technologies (NASDAQ:ZI) is expected to report quarterly earnings at $0.12 per share on revenue of $162.34 million.\nUnivar Solns (NYSE:UNVR) is estimated to report quarterly earnings at $0.47 per share on revenue of $2.25 billion.\nUniversal Technical (NYSE:UTI) is likely to report quarterly earnings at $0.03 per share on revenue of $81.60 million.\nTravelCenters Of America (NASDAQ:TA) is projected to report quarterly earnings at $0.26 per share on revenue of $1.75 billion.\nValaris (NYSE:VAL) is expected to report quarterly loss at $0.99 per share on revenue of $285.00 million.\nViemed Healthcare (NASDAQ:VMD) is likely to report quarterly earnings at $0.03 per share on revenue of $27.16 million.\nReynolds Consumer (NASDAQ:REYN) is likely to report quarterly earnings at $0.38 per share on revenue of $891.42 million.\nOmega Healthcare (NYSE:OHI) is estimated to report quarterly earnings at $0.41 per share on revenue of $272.63 million.\nMagnolia Oil & Gas (NYSE:MGY) is projected to report quarterly earnings at $0.36 per share on revenue of $223.94 million.\nKite Realty Gr Trust (NYSE:KRG) is estimated to report quarterly loss at $0.03 per share on revenue of $66.61 million.\nMosaic (NYSE:MOS) is expected to report quarterly earnings at $0.95 per share on revenue of $2.82 billion.\nKennametal (NYSE:KMT) is projected to report quarterly earnings at $0.40 per share on revenue of $514.21 million.\nLeggett & Platt (NYSE:LEG) is projected to report quarterly earnings at $0.54 per share on revenue of $1.23 billion.\nCVR Energy (NYSE:CVI) is expected to report quarterly loss at $0.33 per share on revenue of $1.41 billion.\nEastman Chemical (NYSE:EMN) is estimated to report quarterly earnings at $2.30 per share on revenue of $2.40 billion.\nColumbia Sportswear (NASDAQ:COLM) is estimated to report quarterly loss at $0.08 per share on revenue of $497.57 million.\nBoise Cascade (NYSE:BCC) is projected to report quarterly earnings at $4.34 per share on revenue of $1.99 billion.\nBruker (NASDAQ:BRKR) is estimated to report quarterly earnings at $0.38 per share on revenue of $538.29 million.\nContinental Resources (NYSE:CLR) is projected to report quarterly earnings at $0.47 per share on revenue of $1.08 billion.\nNXP Semiconductors (NASDAQ:NXPI) is expected to report quarterly earnings at $2.31 per share on revenue of $2.58 billion.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806380578,"gmtCreate":1627632555994,"gmtModify":1631890938705,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806380578","repostId":"1162879180","repostType":4,"repost":{"id":"1162879180","kind":"news","pubTimestamp":1627626953,"share":"https://www.laohu8.com/m/news/1162879180?lang=zh_CN&edition=full","pubTime":"2021-07-30 14:35","market":"us","language":"en","title":"Hotels’ Earnings Show Things Are Getting Better<blockquote>酒店盈利显示情况正在好转</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162879180","media":"Barrons","summary":"Second-quarter earnings results for Hilton Worldwide Holdings and Wyndham Hotels & Resorts are the l","content":"<p>Second-quarter earnings results for Hilton Worldwide Holdings and Wyndham Hotels &amp; Resorts are the latest example of a marked improvement for the lodging industry, although the crucial business travel segment continues to lag.</p><p><blockquote>希尔顿全球控股公司和温德姆酒店及度假村第二季度的盈利结果是住宿业显着改善的最新例子，尽管至关重要的商务旅行领域仍然落后。</blockquote></p><p> Both stocks took off on Thursday morning. “We continued to make significant progress toward recovery,” Hilton CEO Christopher Nassetta told analysts.</p><p><blockquote>这两只股票都在周四上午上涨。希尔顿首席执行官克里斯托弗·纳塞塔对分析师表示：“我们在复苏方面继续取得重大进展。”</blockquote></p><p> Wyndham Hotels (ticker: WH) on Wednesday reported second-quarter adjusted diluted earnings of 95 cents a share, up from 10 cents in the corresponding period last year. Net revenues were $406 million, compared with$258 million a year earlier, during the heart of the pandemic.</p><p><blockquote>温德姆酒店（股票代码：WH）周三公布第二季度调整后稀释每股收益为95美分，高于去年同期的10美分。在大流行期间，净收入为4.06亿美元，而去年同期为2.58亿美元。</blockquote></p><p> The company, based in Parsippany, N.J., franchises its brands across about 9,000 hotels globally. It is known for economy and midscale offerings such as Super 8, Ramada, and Days Inn.</p><p><blockquote>该公司总部位于新泽西州帕西帕尼，在全球约9000家酒店特许经营其品牌。它以经济型和中档酒店而闻名，如速8酒店、华美达酒店和戴斯酒店。</blockquote></p><p> Global revenue per available room, a key metric known as RevPar, increased by 110% in the quarter year over year but was down 17% from the same period in 2019. RevPar at the company’s economy brands in the U.S. exceeded second-quarter 2019 levels.</p><p><blockquote>全球每间可用客房收入（一项称为RevPar的关键指标）在本季度同比增长110%，但较2019年同期下降17%。该公司经济品牌在美国的RevPar超过了2019年第二季度的水平。</blockquote></p><p> Unlike Hilton Worldwide Holdings (HLT) and Marriott International (MAR), which in normal times have a big business and group travel component, Wyndham relies more heavily on domestic leisure travelers . That is a relatively good place to be during the pandemic.</p><p><blockquote>与希尔顿全球控股公司(HLT)和万豪国际(MAR)不同，温德姆酒店在正常情况下拥有大型商务和团体旅行业务，温德姆酒店更依赖国内休闲旅客。在疫情期间，这是一个相对较好的地方。</blockquote></p><p> The stock had returned about 20% this year through Wednesday’s close, a little better than the S&amp;P 500’s 18% result. The stock was at $75.35 near midday, up 6.5%.</p><p><blockquote>截至周三收盘，该股今年的回报率约为20%，略好于标普500 18%的业绩。临近午盘，该股报75.35美元，上涨6.5%。</blockquote></p><p> “Wyndham’s recovery continues to unfold at a faster-than-expected rate,” Baird analyst Michael Bellisario said in a research note Thursday. He noted that second-quarter earnings before interest, taxes, depreciation and amortization, or Ebitda, came in at $168 million, up from $66 million a year earlier, and the dividend is rising 50% to 16 cents a share.</p><p><blockquote>贝尔德分析师迈克尔·贝利萨里奥(Michael Bellisario)周四在一份研究报告中表示：“温德姆的复苏继续以快于预期的速度展开。”他指出，第二季度息税折旧摊销前利润(Ebitda)为1.68亿美元，高于去年同期的6600万美元，股息增长50%，达到每股16美分。</blockquote></p><p> Hilton Worldwide Holdings, meanwhile, reported adjusted diluted earnings per share of 56 cents, compared with a loss of 61 cents a year earlier, on revenues of $1.3 billion. That was below the FactSet consensus estimate of about $1.4 billion, but it was more than double the $564 million during last year’s second quarter.</p><p><blockquote>与此同时，希尔顿全球控股公司报告调整后摊薄每股收益为56美分，而去年同期为亏损61美分，营收为13亿美元。这低于FactSet普遍预期的约14亿美元，但比去年第二季度的5.64亿美元高出一倍多。</blockquote></p><p> “The miss was primarily from other revenues and not the fundamental base fees that are more integral to” Hilton, Truist Securities analyst Patrick Scholes wrote in a note.</p><p><blockquote>Truist Securities分析师帕特里克·斯科尔斯(Patrick Scholes)在一份报告中写道：“失误主要来自其他收入，而不是对希尔顿更重要的基本费用。”</blockquote></p><p> Hilton, based in McLean, Va., operates an asset light model. It owns relatively few hotel properties, relying instead on management and franchising fees.</p><p><blockquote>总部位于弗吉尼亚州麦克林的希尔顿采用轻资产模式。它拥有的酒店物业相对较少，而是依赖管理费和特许经营费。</blockquote></p><p> Hilton depends heavily on group and business travel customers, segments that have been hard hit by the pandemic.</p><p><blockquote>希尔顿严重依赖团体和商务旅行客户，这些细分市场受到了疫情的严重打击。</blockquote></p><p> “While the pace of recovery varies by region, particularly with the uncertainty surrounding coronavirus variants, we expect continued strength in leisure demand and further upticks in business travel to drive continued resurgence in the back half of the year,” the company said in its earnings release.</p><p><blockquote>该公司在财报中表示：“虽然复苏步伐因地区而异，特别是考虑到冠状病毒变种的不确定性，但我们预计休闲需求的持续强劲和商务旅行的进一步增加将推动下半年的持续复苏。”发布。</blockquote></p><p> For Hilton and many other lodging companies, how quickly non-leisure business improves is crucial in determining how soon things get back to normal levels.</p><p><blockquote>对于希尔顿和许多其他住宿公司来说，非休闲业务改善的速度对于决定情况多快恢复正常水平至关重要。</blockquote></p><p> Speaking to analyst Thursday morning, Nassetta said the company’s greatest strength has been leisure travel but that it has seen a “significant pickup in business travel” and “significant pickup, while further to go, in the group side.” Group includes events such as conventions, trade shows, and weddings.</p><p><blockquote>纳塞塔周四上午在接受分析师采访时表示，该公司最大的优势是休闲旅行，但“商务旅行显着回升”，“集团方面也显着回升，而且还在进一步发展”。团体包括会议、贸易展览和婚礼等活动。</blockquote></p><p> “And we continue to see that, notwithstanding the Delta variant and all of the things going on,” he said.</p><p><blockquote>“尽管德尔塔变异毒株和所有正在发生的事情，但我们继续看到这一点，”他说。</blockquote></p><p> Nassetta said that as of Wednesday, systemwide occupancy in the U.S. was 74% over the previous seven days. That includes urban markets, which have generally lagged during the recovery.</p><p><blockquote>Nassetta表示，截至周三，美国全系统的入住率较前七天为74%。这包括在复苏过程中普遍落后的城市市场。</blockquote></p><p> “If we’re running at 74%, that’s not leisure,” he said. “While we have a lot of leisure-oriented hotels, we have a lot of business-oriented hotels, and so midweek occupancy at that level is definitely reflective of business travel.”</p><p><blockquote>“如果我们以74%的速度运行，那就不是休闲，”他说。“虽然我们有很多休闲型酒店，但我们也有很多商务型酒店，因此周中的入住率肯定反映了商务旅行。”</blockquote></p><p> The stock has returned about 16% this year through Wednesday. It was at $ 135.08 near midday, for a gain of 5.6%.</p><p><blockquote>截至周三，该股今年的回报率约为16%。临近中午，该股收于135.08美元，涨幅为5.6%。</blockquote></p><p> Systemwide comparable RevPar jumped by more than 200% year over year in the quarter on a currency-neutral basis, which uses exchange rates at the end of a specified period.</p><p><blockquote>在货币中性的基础上（使用指定期末的汇率），本季度全系统可比RevPar同比增长超过200%。</blockquote></p><p> Second-quarter adjusted Ebitda was $400 million, well ahead of the FactSet consensus estimate of $333 million.</p><p><blockquote>第二季度调整后Ebitda为4亿美元，远高于FactSet一致预期的3.33亿美元。</blockquote></p><p> As of June 30, Hilton’s cash and cash equivalents totaled about $1.1 billion against $8.6 billion of consolidated long-term debt. During the second quarter, Hilton repaid the outstanding balance of nearly $1.2 billion on its revolving credit facility.</p><p><blockquote>截至6月30日，希尔顿的现金和现金等价物总额约为11亿美元，而合并长期债务为86亿美元。第二季度，希尔顿偿还了其循环信贷额度中近12亿美元的未偿余额。</blockquote></p><p> Asked about when the company would resume capital returns, notably dividends and share buybacks, Nassetta said he was confident that will occur in the first half of next year.</p><p><blockquote>当被问及公司何时恢复资本回报，特别是股息和股票回购时，纳塞塔表示，他有信心这将在明年上半年实现。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hotels’ Earnings Show Things Are Getting Better<blockquote>酒店盈利显示情况正在好转</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\">\nHotels’ Earnings Show Things Are Getting Better<blockquote>酒店盈利显示情况正在好转</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-30 14:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Second-quarter earnings results for Hilton Worldwide Holdings and Wyndham Hotels &amp; Resorts are the latest example of a marked improvement for the lodging industry, although the crucial business travel segment continues to lag.</p><p><blockquote>希尔顿全球控股公司和温德姆酒店及度假村第二季度的盈利结果是住宿业显着改善的最新例子，尽管至关重要的商务旅行领域仍然落后。</blockquote></p><p> Both stocks took off on Thursday morning. “We continued to make significant progress toward recovery,” Hilton CEO Christopher Nassetta told analysts.</p><p><blockquote>这两只股票都在周四上午上涨。希尔顿首席执行官克里斯托弗·纳塞塔对分析师表示：“我们在复苏方面继续取得重大进展。”</blockquote></p><p> Wyndham Hotels (ticker: WH) on Wednesday reported second-quarter adjusted diluted earnings of 95 cents a share, up from 10 cents in the corresponding period last year. Net revenues were $406 million, compared with$258 million a year earlier, during the heart of the pandemic.</p><p><blockquote>温德姆酒店（股票代码：WH）周三公布第二季度调整后稀释每股收益为95美分，高于去年同期的10美分。在大流行期间，净收入为4.06亿美元，而去年同期为2.58亿美元。</blockquote></p><p> The company, based in Parsippany, N.J., franchises its brands across about 9,000 hotels globally. It is known for economy and midscale offerings such as Super 8, Ramada, and Days Inn.</p><p><blockquote>该公司总部位于新泽西州帕西帕尼，在全球约9000家酒店特许经营其品牌。它以经济型和中档酒店而闻名，如速8酒店、华美达酒店和戴斯酒店。</blockquote></p><p> Global revenue per available room, a key metric known as RevPar, increased by 110% in the quarter year over year but was down 17% from the same period in 2019. RevPar at the company’s economy brands in the U.S. exceeded second-quarter 2019 levels.</p><p><blockquote>全球每间可用客房收入（一项称为RevPar的关键指标）在本季度同比增长110%，但较2019年同期下降17%。该公司经济品牌在美国的RevPar超过了2019年第二季度的水平。</blockquote></p><p> Unlike Hilton Worldwide Holdings (HLT) and Marriott International (MAR), which in normal times have a big business and group travel component, Wyndham relies more heavily on domestic leisure travelers . That is a relatively good place to be during the pandemic.</p><p><blockquote>与希尔顿全球控股公司(HLT)和万豪国际(MAR)不同，温德姆酒店在正常情况下拥有大型商务和团体旅行业务，温德姆酒店更依赖国内休闲旅客。在疫情期间，这是一个相对较好的地方。</blockquote></p><p> The stock had returned about 20% this year through Wednesday’s close, a little better than the S&amp;P 500’s 18% result. The stock was at $75.35 near midday, up 6.5%.</p><p><blockquote>截至周三收盘，该股今年的回报率约为20%，略好于标普500 18%的业绩。临近午盘，该股报75.35美元，上涨6.5%。</blockquote></p><p> “Wyndham’s recovery continues to unfold at a faster-than-expected rate,” Baird analyst Michael Bellisario said in a research note Thursday. He noted that second-quarter earnings before interest, taxes, depreciation and amortization, or Ebitda, came in at $168 million, up from $66 million a year earlier, and the dividend is rising 50% to 16 cents a share.</p><p><blockquote>贝尔德分析师迈克尔·贝利萨里奥(Michael Bellisario)周四在一份研究报告中表示：“温德姆的复苏继续以快于预期的速度展开。”他指出，第二季度息税折旧摊销前利润(Ebitda)为1.68亿美元，高于去年同期的6600万美元，股息增长50%，达到每股16美分。</blockquote></p><p> Hilton Worldwide Holdings, meanwhile, reported adjusted diluted earnings per share of 56 cents, compared with a loss of 61 cents a year earlier, on revenues of $1.3 billion. That was below the FactSet consensus estimate of about $1.4 billion, but it was more than double the $564 million during last year’s second quarter.</p><p><blockquote>与此同时，希尔顿全球控股公司报告调整后摊薄每股收益为56美分，而去年同期为亏损61美分，营收为13亿美元。这低于FactSet普遍预期的约14亿美元，但比去年第二季度的5.64亿美元高出一倍多。</blockquote></p><p> “The miss was primarily from other revenues and not the fundamental base fees that are more integral to” Hilton, Truist Securities analyst Patrick Scholes wrote in a note.</p><p><blockquote>Truist Securities分析师帕特里克·斯科尔斯(Patrick Scholes)在一份报告中写道：“失误主要来自其他收入，而不是对希尔顿更重要的基本费用。”</blockquote></p><p> Hilton, based in McLean, Va., operates an asset light model. It owns relatively few hotel properties, relying instead on management and franchising fees.</p><p><blockquote>总部位于弗吉尼亚州麦克林的希尔顿采用轻资产模式。它拥有的酒店物业相对较少，而是依赖管理费和特许经营费。</blockquote></p><p> Hilton depends heavily on group and business travel customers, segments that have been hard hit by the pandemic.</p><p><blockquote>希尔顿严重依赖团体和商务旅行客户，这些细分市场受到了疫情的严重打击。</blockquote></p><p> “While the pace of recovery varies by region, particularly with the uncertainty surrounding coronavirus variants, we expect continued strength in leisure demand and further upticks in business travel to drive continued resurgence in the back half of the year,” the company said in its earnings release.</p><p><blockquote>该公司在财报中表示：“虽然复苏步伐因地区而异，特别是考虑到冠状病毒变种的不确定性，但我们预计休闲需求的持续强劲和商务旅行的进一步增加将推动下半年的持续复苏。”发布。</blockquote></p><p> For Hilton and many other lodging companies, how quickly non-leisure business improves is crucial in determining how soon things get back to normal levels.</p><p><blockquote>对于希尔顿和许多其他住宿公司来说，非休闲业务改善的速度对于决定情况多快恢复正常水平至关重要。</blockquote></p><p> Speaking to analyst Thursday morning, Nassetta said the company’s greatest strength has been leisure travel but that it has seen a “significant pickup in business travel” and “significant pickup, while further to go, in the group side.” Group includes events such as conventions, trade shows, and weddings.</p><p><blockquote>纳塞塔周四上午在接受分析师采访时表示，该公司最大的优势是休闲旅行，但“商务旅行显着回升”，“集团方面也显着回升，而且还在进一步发展”。团体包括会议、贸易展览和婚礼等活动。</blockquote></p><p> “And we continue to see that, notwithstanding the Delta variant and all of the things going on,” he said.</p><p><blockquote>“尽管德尔塔变异毒株和所有正在发生的事情，但我们继续看到这一点，”他说。</blockquote></p><p> Nassetta said that as of Wednesday, systemwide occupancy in the U.S. was 74% over the previous seven days. That includes urban markets, which have generally lagged during the recovery.</p><p><blockquote>Nassetta表示，截至周三，美国全系统的入住率较前七天为74%。这包括在复苏过程中普遍落后的城市市场。</blockquote></p><p> “If we’re running at 74%, that’s not leisure,” he said. “While we have a lot of leisure-oriented hotels, we have a lot of business-oriented hotels, and so midweek occupancy at that level is definitely reflective of business travel.”</p><p><blockquote>“如果我们以74%的速度运行，那就不是休闲，”他说。“虽然我们有很多休闲型酒店，但我们也有很多商务型酒店，因此周中的入住率肯定反映了商务旅行。”</blockquote></p><p> The stock has returned about 16% this year through Wednesday. It was at $ 135.08 near midday, for a gain of 5.6%.</p><p><blockquote>截至周三，该股今年的回报率约为16%。临近中午，该股收于135.08美元，涨幅为5.6%。</blockquote></p><p> Systemwide comparable RevPar jumped by more than 200% year over year in the quarter on a currency-neutral basis, which uses exchange rates at the end of a specified period.</p><p><blockquote>在货币中性的基础上（使用指定期末的汇率），本季度全系统可比RevPar同比增长超过200%。</blockquote></p><p> Second-quarter adjusted Ebitda was $400 million, well ahead of the FactSet consensus estimate of $333 million.</p><p><blockquote>第二季度调整后Ebitda为4亿美元，远高于FactSet一致预期的3.33亿美元。</blockquote></p><p> As of June 30, Hilton’s cash and cash equivalents totaled about $1.1 billion against $8.6 billion of consolidated long-term debt. During the second quarter, Hilton repaid the outstanding balance of nearly $1.2 billion on its revolving credit facility.</p><p><blockquote>截至6月30日，希尔顿的现金和现金等价物总额约为11亿美元，而合并长期债务为86亿美元。第二季度，希尔顿偿还了其循环信贷额度中近12亿美元的未偿余额。</blockquote></p><p> Asked about when the company would resume capital returns, notably dividends and share buybacks, Nassetta said he was confident that will occur in the first half of next year.</p><p><blockquote>当被问及公司何时恢复资本回报，特别是股息和股票回购时，纳塞塔表示，他有信心这将在明年上半年实现。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/hotels-earnings-wyndham-hilton-51627576134?mod=hp_DAY_4\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HLT":"希尔顿酒店"},"source_url":"https://www.barrons.com/articles/hotels-earnings-wyndham-hilton-51627576134?mod=hp_DAY_4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162879180","content_text":"Second-quarter earnings results for Hilton Worldwide Holdings and Wyndham Hotels & Resorts are the latest example of a marked improvement for the lodging industry, although the crucial business travel segment continues to lag.\nBoth stocks took off on Thursday morning. “We continued to make significant progress toward recovery,” Hilton CEO Christopher Nassetta told analysts.\nWyndham Hotels (ticker: WH) on Wednesday reported second-quarter adjusted diluted earnings of 95 cents a share, up from 10 cents in the corresponding period last year. Net revenues were $406 million, compared with$258 million a year earlier, during the heart of the pandemic.\nThe company, based in Parsippany, N.J., franchises its brands across about 9,000 hotels globally. It is known for economy and midscale offerings such as Super 8, Ramada, and Days Inn.\nGlobal revenue per available room, a key metric known as RevPar, increased by 110% in the quarter year over year but was down 17% from the same period in 2019. RevPar at the company’s economy brands in the U.S. exceeded second-quarter 2019 levels.\nUnlike Hilton Worldwide Holdings (HLT) and Marriott International (MAR), which in normal times have a big business and group travel component, Wyndham relies more heavily on domestic leisure travelers . That is a relatively good place to be during the pandemic.\nThe stock had returned about 20% this year through Wednesday’s close, a little better than the S&P 500’s 18% result. The stock was at $75.35 near midday, up 6.5%.\n“Wyndham’s recovery continues to unfold at a faster-than-expected rate,” Baird analyst Michael Bellisario said in a research note Thursday. He noted that second-quarter earnings before interest, taxes, depreciation and amortization, or Ebitda, came in at $168 million, up from $66 million a year earlier, and the dividend is rising 50% to 16 cents a share.\nHilton Worldwide Holdings, meanwhile, reported adjusted diluted earnings per share of 56 cents, compared with a loss of 61 cents a year earlier, on revenues of $1.3 billion. That was below the FactSet consensus estimate of about $1.4 billion, but it was more than double the $564 million during last year’s second quarter.\n“The miss was primarily from other revenues and not the fundamental base fees that are more integral to” Hilton, Truist Securities analyst Patrick Scholes wrote in a note.\nHilton, based in McLean, Va., operates an asset light model. It owns relatively few hotel properties, relying instead on management and franchising fees.\nHilton depends heavily on group and business travel customers, segments that have been hard hit by the pandemic.\n“While the pace of recovery varies by region, particularly with the uncertainty surrounding coronavirus variants, we expect continued strength in leisure demand and further upticks in business travel to drive continued resurgence in the back half of the year,” the company said in its earnings release.\nFor Hilton and many other lodging companies, how quickly non-leisure business improves is crucial in determining how soon things get back to normal levels.\nSpeaking to analyst Thursday morning, Nassetta said the company’s greatest strength has been leisure travel but that it has seen a “significant pickup in business travel” and “significant pickup, while further to go, in the group side.” Group includes events such as conventions, trade shows, and weddings.\n“And we continue to see that, notwithstanding the Delta variant and all of the things going on,” he said.\nNassetta said that as of Wednesday, systemwide occupancy in the U.S. was 74% over the previous seven days. That includes urban markets, which have generally lagged during the recovery.\n“If we’re running at 74%, that’s not leisure,” he said. “While we have a lot of leisure-oriented hotels, we have a lot of business-oriented hotels, and so midweek occupancy at that level is definitely reflective of business travel.”\nThe stock has returned about 16% this year through Wednesday. It was at $ 135.08 near midday, for a gain of 5.6%.\nSystemwide comparable RevPar jumped by more than 200% year over year in the quarter on a currency-neutral basis, which uses exchange rates at the end of a specified period.\nSecond-quarter adjusted Ebitda was $400 million, well ahead of the FactSet consensus estimate of $333 million.\nAs of June 30, Hilton’s cash and cash equivalents totaled about $1.1 billion against $8.6 billion of consolidated long-term debt. During the second quarter, Hilton repaid the outstanding balance of nearly $1.2 billion on its revolving credit facility.\nAsked about when the company would resume capital returns, notably dividends and share buybacks, Nassetta said he was confident that will occur in the first half of next year.","news_type":1,"symbols_score_info":{"HLT":0.9}},"isVote":1,"tweetType":1,"viewCount":597,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806312527,"gmtCreate":1627632386769,"gmtModify":1631890938719,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"good read&nbsp;","listText":"good read&nbsp;","text":"good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806312527","repostId":"1178125211","repostType":4,"repost":{"id":"1178125211","kind":"news","pubTimestamp":1627631198,"share":"https://www.laohu8.com/m/news/1178125211?lang=zh_CN&edition=full","pubTime":"2021-07-30 15:46","market":"us","language":"en","title":"The 2 High-Growth Stocks Everyone Will Be Talking About Friday<blockquote>周五每个人都会谈论的两只高增长股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1178125211","media":"Motley Fool","summary":"The stock market did well on Thursday, but some choppy waters could lie ahead.","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Stock markets moved higher on Thursday as investors were generally positive about future economic prospects.</li>  <li>Earnings season continued, bringing more results to investors' attention.</li>  <li>Two stocks in particular have the potential to move markets on Friday.</li> </ul> </p><p><blockquote><ul><li>由于投资者普遍对未来经济前景持乐观态度，周四股市走高。</li><li>财报季仍在继续，为投资者带来更多业绩。</li><li>两只股票尤其有可能在周五影响市场。</li></ul></blockquote></p><p> The stock market moved higher on Thursday, with investors seeing the bright side of earnings season. Gains were sharpest for the&nbsp;<b>Dow Jones Industrial Average</b>(DJINDICES:^DJI), but the&nbsp;<b>S&amp;P 500</b>(SNPINDEX:^GSPC)was only a little bit behind while the&nbsp;<b>Nasdaq Composite</b>(NASDAQINDEX:^IXIC)came up with the smallest gains.</p><p><blockquote>周四股市走高，投资者看到了财报季的光明面。涨幅最大<b>道琼斯工业平均指数</b>(DJINDICES：^DJI)，但是<b>标普500</b>(SNPINDEX：^GSPC)仅落后一点点<b>纳斯达克复合材料</b>(NASDAQINDEX：^IXIC)涨幅最小。</blockquote></p><p> <table>  <thead>   <tr>    <th><b>Index</b></p><p><blockquote><table><thead><tr><th><b>指数</b></th></tr></thead></table></blockquote></p><p></th>    <th><b>Percentage Change</b></p><p><blockquote><th><b>百分比变化</b></th></blockquote></p><p></th>    <th><b>Point Change</b></p><p><blockquote><th><b>点变化</b></th></blockquote></p><p></th>   </tr>  </thead>  <tbody>   <tr>    <td>Dow</p><p><blockquote><tbody><tr><td>陶氏化学</td></tr></tbody></blockquote></p><p></td>    <td>+0.44%</p><p><blockquote><td>+0.44%</td></blockquote></p><p></td>    <td>+154</p><p><blockquote><td>+154</td></blockquote></p><p></td>   </tr>   <tr>    <td>S&amp;P 500</p><p><blockquote><tr><td>标普500</td></tr></blockquote></p><p></td>    <td>+0.42%</p><p><blockquote><td>+0.42%</td></blockquote></p><p></td>    <td>+19</p><p><blockquote><td>+19</td></blockquote></p><p></td>   </tr>   <tr>    <td>Nasdaq Composite</p><p><blockquote><tr><td>纳斯达克复合材料</td></tr></blockquote></p><p></td>    <td>+0.11%</p><p><blockquote><td>+0.11%</td></blockquote></p><p></td>    <td>+16</p><p><blockquote><td>+16</td></blockquote></p><p></td>   </tr>  </tbody> </table> DATA SOURCE: YAHOO! FINANCE.</p><p><blockquote>数据来源：雅虎！金融。</blockquote></p><p> Earnings reports kept pouring in, giving investors different views of how various businesses are doing. A couple of high-profile growth stocks reported their results today, and their share prices fell sharply inafter-hours trading. Below, we'll take a closer look at what sent shares of e-commerce pioneer&nbsp;<b>Amazon.com</b>(NASDAQ:AMZN)and social media disruptor&nbsp;<b>Pinterest</b>(NYSE:PINS)sharply lower late Thursday.</p><p><blockquote>收益报告不断涌入，让投资者对各种企业的表现有了不同的看法。几只备受瞩目的成长型股票今天公布了业绩，其股价在盘后交易中大幅下跌。下面，我们将仔细看看是什么让电子商务先锋的股票<b>亚马逊</b>（纳斯达克：AMZN）和社交媒体颠覆者<b>Pinterest</b>（纽约证券交易所股票代码：PINS）周四晚间大幅走低。</blockquote></p><p> Shares of Amazon.com were down about 1% in the regular session. However, the stock fell more than 5% after hours following its release of second-quarter financial results.</p><p><blockquote>亚马逊股价在常规交易中下跌约1%。然而，在公布第二季度财务业绩后，该股盘后下跌超过5%。</blockquote></p><p> At first glance, Amazon's numbers seemed quite healthy. Net sales jumped 27% during the quarter to $113.1 billion. Net income soared by roughly 50% year over year to $7.8 billion, working out to $15.12 per share. The company reported 250 million items purchased during the latest Prime Day event, easily eclipsing results from previous years.</p><p><blockquote>乍一看，亚马逊的数据似乎相当健康。本季度净销售额增长27%，达到1,131亿美元。净利润同比飙升约50%，达到78亿美元，每股15.12美元。该公司报告称，在最新的Prime Day活动期间购买了2.5亿件商品，轻松超过了前几年的结果。</blockquote></p><p> IMAGE SOURCE: GETTY IMAGES.</p><p><blockquote>图片来源：盖蒂图片社。</blockquote></p><p> Yet investors didn't seem satisfied by the extent of Amazon's gains, and they absolutely didn't like the guidance the company gave for the third quarter. Amazon projected revenue of $106 billion to $112 billion for the third quarter, which would represent a sequential decline and a year-over-year gain of just 10% to 16%.</p><p><blockquote>然而，投资者似乎对亚马逊的涨幅并不满意，他们绝对不喜欢该公司给出的第三季度指引。亚马逊预计第三季度营收为1060亿美元至1120亿美元，环比下降，同比仅增长10%至16%。</blockquote></p><p> Some have feared that&nbsp;Amazon would suffer when the economy reopened, and that seems to be consistent with what the company itself is projecting. That said, Amazon has defied naysayers before, so it's too early to count on the e-commerce giant just yet.</p><p><blockquote>一些人担心当经济重新开放时，亚马逊会遭受损失，这似乎与该公司本身的预测一致。也就是说，亚马逊以前曾违抗过反对者，因此现在指望这家电子商务巨头还为时过早。</blockquote></p><p> Meanwhile, shares of Pinterest took a double-hit on Thursday. After falling 6% in the regular session, the social media company's stock saw an even bigger 16% drop after hours.</p><p><blockquote>与此同时，Pinterest股价周四遭受双重打击。这家社交媒体公司的股价在常规交易中下跌6%后，盘后跌幅更大，达到16%。</blockquote></p><p> Again, Pinterest's numbers generally looked stellar on their face. Revenue soared 125% year over year to&nbsp; $613 million. The company reversed a year-ago loss with adjusted net income of $170 million, working out to $0.25 per share. Although user growth slowed to just 9%, average revenue per user was sharply higher, doubling both in the U.S. and internationally.</p><p><blockquote>再说一次，Pinterest的数据总体上看起来很出色。收入同比飙升125%至6.13亿美元。该公司扭转了去年同期的亏损，调整后净利润为1.7亿美元，每股收益为0.25美元。尽管用户增长放缓至仅9%，但每用户的平均收入却大幅上升，在美国和国际上都翻了一番。</blockquote></p><p> Yet Pinterest also cited an uncertain future in its guidance. The social media company believes revenue growth will slow to about 40% in the third quarter, and it said that reduced user growth has continued in July. U.S. monthly active user counts actually<i>fell</i>in the second quarter, and those declines accelerated in July.</p><p><blockquote>然而，Pinterest在其指导中也提到了不确定的未来。这家社交媒体公司认为第三季度收入增长将放缓至40%左右，并表示7月份用户增长持续放缓。美国月活跃用户数实际<i>费尔</i>第二季度，这些下降在7月份加速。</blockquote></p><p> Investors had high expectations for Pinterestcoming into the quarterly report, so it's not terribly surprising to see the stock pull back after releasing results that weren't able to get over a high bar. What's important going forward is that Pinterest continue to attract new users and then monetize them more effectively to keep revenue and profits moving higher.</p><p><blockquote>投资者对Pinterest进入季度报告抱有很高的期望，因此看到该股在发布未能突破高标准的业绩后回调也就不足为奇了。未来重要的是，Pinterest继续吸引新用户，然后更有效地将他们货币化，以保持收入和利润更高。</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>The 2 High-Growth Stocks Everyone Will Be Talking About Friday<blockquote>周五每个人都会谈论的两只高增长股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe 2 High-Growth Stocks Everyone Will Be Talking About Friday<blockquote>周五每个人都会谈论的两只高增长股票</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\">2021-07-30 15:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Stock markets moved higher on Thursday as investors were generally positive about future economic prospects.</li>  <li>Earnings season continued, bringing more results to investors' attention.</li>  <li>Two stocks in particular have the potential to move markets on Friday.</li> </ul> </p><p><blockquote><ul><li>由于投资者普遍对未来经济前景持乐观态度，周四股市走高。</li><li>财报季仍在继续，为投资者带来更多业绩。</li><li>两只股票尤其有可能在周五影响市场。</li></ul></blockquote></p><p> The stock market moved higher on Thursday, with investors seeing the bright side of earnings season. Gains were sharpest for the&nbsp;<b>Dow Jones Industrial Average</b>(DJINDICES:^DJI), but the&nbsp;<b>S&amp;P 500</b>(SNPINDEX:^GSPC)was only a little bit behind while the&nbsp;<b>Nasdaq Composite</b>(NASDAQINDEX:^IXIC)came up with the smallest gains.</p><p><blockquote>周四股市走高，投资者看到了财报季的光明面。涨幅最大<b>道琼斯工业平均指数</b>(DJINDICES：^DJI)，但是<b>标普500</b>(SNPINDEX：^GSPC)仅落后一点点<b>纳斯达克复合材料</b>(NASDAQINDEX：^IXIC)涨幅最小。</blockquote></p><p> <table>  <thead>   <tr>    <th><b>Index</b></p><p><blockquote><table><thead><tr><th><b>指数</b></th></tr></thead></table></blockquote></p><p></th>    <th><b>Percentage Change</b></p><p><blockquote><th><b>百分比变化</b></th></blockquote></p><p></th>    <th><b>Point Change</b></p><p><blockquote><th><b>点变化</b></th></blockquote></p><p></th>   </tr>  </thead>  <tbody>   <tr>    <td>Dow</p><p><blockquote><tbody><tr><td>陶氏化学</td></tr></tbody></blockquote></p><p></td>    <td>+0.44%</p><p><blockquote><td>+0.44%</td></blockquote></p><p></td>    <td>+154</p><p><blockquote><td>+154</td></blockquote></p><p></td>   </tr>   <tr>    <td>S&amp;P 500</p><p><blockquote><tr><td>标普500</td></tr></blockquote></p><p></td>    <td>+0.42%</p><p><blockquote><td>+0.42%</td></blockquote></p><p></td>    <td>+19</p><p><blockquote><td>+19</td></blockquote></p><p></td>   </tr>   <tr>    <td>Nasdaq Composite</p><p><blockquote><tr><td>纳斯达克复合材料</td></tr></blockquote></p><p></td>    <td>+0.11%</p><p><blockquote><td>+0.11%</td></blockquote></p><p></td>    <td>+16</p><p><blockquote><td>+16</td></blockquote></p><p></td>   </tr>  </tbody> </table> DATA SOURCE: YAHOO! FINANCE.</p><p><blockquote>数据来源：雅虎！金融。</blockquote></p><p> Earnings reports kept pouring in, giving investors different views of how various businesses are doing. A couple of high-profile growth stocks reported their results today, and their share prices fell sharply inafter-hours trading. Below, we'll take a closer look at what sent shares of e-commerce pioneer&nbsp;<b>Amazon.com</b>(NASDAQ:AMZN)and social media disruptor&nbsp;<b>Pinterest</b>(NYSE:PINS)sharply lower late Thursday.</p><p><blockquote>收益报告不断涌入，让投资者对各种企业的表现有了不同的看法。几只备受瞩目的成长型股票今天公布了业绩，其股价在盘后交易中大幅下跌。下面，我们将仔细看看是什么让电子商务先锋的股票<b>亚马逊</b>（纳斯达克：AMZN）和社交媒体颠覆者<b>Pinterest</b>（纽约证券交易所股票代码：PINS）周四晚间大幅走低。</blockquote></p><p> Shares of Amazon.com were down about 1% in the regular session. However, the stock fell more than 5% after hours following its release of second-quarter financial results.</p><p><blockquote>亚马逊股价在常规交易中下跌约1%。然而，在公布第二季度财务业绩后，该股盘后下跌超过5%。</blockquote></p><p> At first glance, Amazon's numbers seemed quite healthy. Net sales jumped 27% during the quarter to $113.1 billion. Net income soared by roughly 50% year over year to $7.8 billion, working out to $15.12 per share. The company reported 250 million items purchased during the latest Prime Day event, easily eclipsing results from previous years.</p><p><blockquote>乍一看，亚马逊的数据似乎相当健康。本季度净销售额增长27%，达到1,131亿美元。净利润同比飙升约50%，达到78亿美元，每股15.12美元。该公司报告称，在最新的Prime Day活动期间购买了2.5亿件商品，轻松超过了前几年的结果。</blockquote></p><p> IMAGE SOURCE: GETTY IMAGES.</p><p><blockquote>图片来源：盖蒂图片社。</blockquote></p><p> Yet investors didn't seem satisfied by the extent of Amazon's gains, and they absolutely didn't like the guidance the company gave for the third quarter. Amazon projected revenue of $106 billion to $112 billion for the third quarter, which would represent a sequential decline and a year-over-year gain of just 10% to 16%.</p><p><blockquote>然而，投资者似乎对亚马逊的涨幅并不满意，他们绝对不喜欢该公司给出的第三季度指引。亚马逊预计第三季度营收为1060亿美元至1120亿美元，环比下降，同比仅增长10%至16%。</blockquote></p><p> Some have feared that&nbsp;Amazon would suffer when the economy reopened, and that seems to be consistent with what the company itself is projecting. That said, Amazon has defied naysayers before, so it's too early to count on the e-commerce giant just yet.</p><p><blockquote>一些人担心当经济重新开放时，亚马逊会遭受损失，这似乎与该公司本身的预测一致。也就是说，亚马逊以前曾违抗过反对者，因此现在指望这家电子商务巨头还为时过早。</blockquote></p><p> Meanwhile, shares of Pinterest took a double-hit on Thursday. After falling 6% in the regular session, the social media company's stock saw an even bigger 16% drop after hours.</p><p><blockquote>与此同时，Pinterest股价周四遭受双重打击。这家社交媒体公司的股价在常规交易中下跌6%后，盘后跌幅更大，达到16%。</blockquote></p><p> Again, Pinterest's numbers generally looked stellar on their face. Revenue soared 125% year over year to&nbsp; $613 million. The company reversed a year-ago loss with adjusted net income of $170 million, working out to $0.25 per share. Although user growth slowed to just 9%, average revenue per user was sharply higher, doubling both in the U.S. and internationally.</p><p><blockquote>再说一次，Pinterest的数据总体上看起来很出色。收入同比飙升125%至6.13亿美元。该公司扭转了去年同期的亏损，调整后净利润为1.7亿美元，每股收益为0.25美元。尽管用户增长放缓至仅9%，但每用户的平均收入却大幅上升，在美国和国际上都翻了一番。</blockquote></p><p> Yet Pinterest also cited an uncertain future in its guidance. The social media company believes revenue growth will slow to about 40% in the third quarter, and it said that reduced user growth has continued in July. U.S. monthly active user counts actually<i>fell</i>in the second quarter, and those declines accelerated in July.</p><p><blockquote>然而，Pinterest在其指导中也提到了不确定的未来。这家社交媒体公司认为第三季度收入增长将放缓至40%左右，并表示7月份用户增长持续放缓。美国月活跃用户数实际<i>费尔</i>第二季度，这些下降在7月份加速。</blockquote></p><p> Investors had high expectations for Pinterestcoming into the quarterly report, so it's not terribly surprising to see the stock pull back after releasing results that weren't able to get over a high bar. What's important going forward is that Pinterest continue to attract new users and then monetize them more effectively to keep revenue and profits moving higher.</p><p><blockquote>投资者对Pinterest进入季度报告抱有很高的期望，因此看到该股在发布未能突破高标准的业绩后回调也就不足为奇了。未来重要的是，Pinterest继续吸引新用户，然后更有效地将他们货币化，以保持收入和利润更高。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/29/the-2-high-growth-stocks-everyone-will-be-talking/\">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":{"AMZN":"亚马逊","PINS":"Pinterest, Inc."},"source_url":"https://www.fool.com/investing/2021/07/29/the-2-high-growth-stocks-everyone-will-be-talking/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178125211","content_text":"Key Points\n\nStock markets moved higher on Thursday as investors were generally positive about future economic prospects.\nEarnings season continued, bringing more results to investors' attention.\nTwo stocks in particular have the potential to move markets on Friday.\n\n\nThe stock market moved higher on Thursday, with investors seeing the bright side of earnings season. Gains were sharpest for the Dow Jones Industrial Average(DJINDICES:^DJI), but the S&P 500(SNPINDEX:^GSPC)was only a little bit behind while the Nasdaq Composite(NASDAQINDEX:^IXIC)came up with the smallest gains.\n\n\n\nIndex\nPercentage Change\nPoint Change\n\n\n\n\nDow\n+0.44%\n+154\n\n\nS&P 500\n+0.42%\n+19\n\n\nNasdaq Composite\n+0.11%\n+16\n\n\n\nDATA SOURCE: YAHOO! FINANCE.\nEarnings reports kept pouring in, giving investors different views of how various businesses are doing. A couple of high-profile growth stocks reported their results today, and their share prices fell sharply inafter-hours trading. Below, we'll take a closer look at what sent shares of e-commerce pioneer Amazon.com(NASDAQ:AMZN)and social media disruptor Pinterest(NYSE:PINS)sharply lower late Thursday.\nShares of Amazon.com were down about 1% in the regular session. However, the stock fell more than 5% after hours following its release of second-quarter financial results.\nAt first glance, Amazon's numbers seemed quite healthy. Net sales jumped 27% during the quarter to $113.1 billion. Net income soared by roughly 50% year over year to $7.8 billion, working out to $15.12 per share. The company reported 250 million items purchased during the latest Prime Day event, easily eclipsing results from previous years.\nIMAGE SOURCE: GETTY IMAGES.\nYet investors didn't seem satisfied by the extent of Amazon's gains, and they absolutely didn't like the guidance the company gave for the third quarter. Amazon projected revenue of $106 billion to $112 billion for the third quarter, which would represent a sequential decline and a year-over-year gain of just 10% to 16%.\nSome have feared that Amazon would suffer when the economy reopened, and that seems to be consistent with what the company itself is projecting. That said, Amazon has defied naysayers before, so it's too early to count on the e-commerce giant just yet.\nMeanwhile, shares of Pinterest took a double-hit on Thursday. After falling 6% in the regular session, the social media company's stock saw an even bigger 16% drop after hours.\nAgain, Pinterest's numbers generally looked stellar on their face. Revenue soared 125% year over year to  $613 million. The company reversed a year-ago loss with adjusted net income of $170 million, working out to $0.25 per share. Although user growth slowed to just 9%, average revenue per user was sharply higher, doubling both in the U.S. and internationally.\nYet Pinterest also cited an uncertain future in its guidance. The social media company believes revenue growth will slow to about 40% in the third quarter, and it said that reduced user growth has continued in July. U.S. monthly active user counts actuallyfellin the second quarter, and those declines accelerated in July.\nInvestors had high expectations for Pinterestcoming into the quarterly report, so it's not terribly surprising to see the stock pull back after releasing results that weren't able to get over a high bar. What's important going forward is that Pinterest continue to attract new users and then monetize them more effectively to keep revenue and profits moving higher.","news_type":1,"symbols_score_info":{"PINS":0.9,"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":686,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803775746,"gmtCreate":1627469067485,"gmtModify":1631890938733,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"cont watching….","listText":"cont watching….","text":"cont watching….","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803775746","repostId":"1103651114","repostType":4,"isVote":1,"tweetType":1,"viewCount":602,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803775220,"gmtCreate":1627469022960,"gmtModify":1631890938749,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"good to follow [Happy]&nbsp;","listText":"good to follow [Happy]&nbsp;","text":"good to follow [Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/803775220","repostId":"1181811581","repostType":4,"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803775170,"gmtCreate":1627468991590,"gmtModify":1631890938762,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087899430188250","idStr":"4087899430188250"},"themes":[],"htmlText":"Good article&nbsp;","listText":"Good article&nbsp;","text":"Good article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/803775170","repostId":"2154405999","repostType":4,"isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":897403361,"gmtCreate":1628952395653,"gmtModify":1631885721620,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"like &amp; comment pls [Smile]&nbsp;","listText":"like &amp; comment pls [Smile]&nbsp;","text":"like & comment pls [Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/897403361","repostId":"2159321505","repostType":4,"repost":{"id":"2159321505","kind":"highlight","pubTimestamp":1628911811,"share":"https://www.laohu8.com/m/news/2159321505?lang=zh_CN&edition=full","pubTime":"2021-08-14 11:30","market":"us","language":"en","title":"Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2159321505","media":"MarketWatch","summary":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. ","content":"<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员的任期为两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官Elon Musk去年在德国。玛雅·希蒂吉/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚间提交的文件中表示，该公司将于10月7日在加州弗里蒙特工厂举行股东大会，该公司将提出的提案包括缩短董事任期的看涨期权。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项建议是评级将每名董事的任期从三年减至两年。特斯拉董事会目前有九名成员，分为三类，任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个任期交错的类别，董事在两个类别之间的分布尽可能平均。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自2007年以来一直在特斯拉董事会任职的风险投资家Antonio Gracias在2019年表示，今年任期结束后，他不会寻求连任，董事会成员将减少至8名。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名现任董事会成员、新闻集团创始人默多克的小儿子默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的哥哥马斯克（Kimbal Musk）连任二级董事，任期将于2024年届满。该公司表示，如果期限缩减获得批准，那么他们的期限将于2023年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提议选举每位董事会成员一年的回应。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>然而，特斯拉表示，两年任期“在股东的长期利益和近期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日收盘下跌0.7%后，在盘后交易中持平。该股今年已上涨1.6%，而标普500指数的涨幅约为19%。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-14 11:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员的任期为两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官Elon Musk去年在德国。玛雅·希蒂吉/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚间提交的文件中表示，该公司将于10月7日在加州弗里蒙特工厂举行股东大会，该公司将提出的提案包括缩短董事任期的看涨期权。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项建议是评级将每名董事的任期从三年减至两年。特斯拉董事会目前有九名成员，分为三类，任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个任期交错的类别，董事在两个类别之间的分布尽可能平均。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自2007年以来一直在特斯拉董事会任职的风险投资家Antonio Gracias在2019年表示，今年任期结束后，他不会寻求连任，董事会成员将减少至8名。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名现任董事会成员、新闻集团创始人默多克的小儿子默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的哥哥马斯克（Kimbal Musk）连任二级董事，任期将于2024年届满。该公司表示，如果期限缩减获得批准，那么他们的期限将于2023年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提议选举每位董事会成员一年的回应。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>然而，特斯拉表示，两年任期“在股东的长期利益和近期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日收盘下跌0.7%后，在盘后交易中持平。该股今年已上涨1.6%，而标普500指数的涨幅约为19%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159321505","content_text":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES\nTesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.\nOne of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s board currently has nine members who are divided into three classes in staggered three-year terms.\nIf the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the filing.\nThe board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.\nTesla’s board nominated current board members James Murdoch, the youngest son of News Corp founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.\nTesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.\nThe two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.\nTesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&P 500 index.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1945,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891937487,"gmtCreate":1628316095349,"gmtModify":1631885721696,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"good reading&nbsp;","listText":"good reading&nbsp;","text":"good reading","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/891937487","repostId":"1143051031","repostType":4,"isVote":1,"tweetType":1,"viewCount":3317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896595693,"gmtCreate":1628591191612,"gmtModify":1631885721660,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"like &amp; comment&nbsp;","listText":"like &amp; comment&nbsp;","text":"like & comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/896595693","repostId":"1135437633","repostType":4,"isVote":1,"tweetType":1,"viewCount":3400,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800122276,"gmtCreate":1627287347795,"gmtModify":1631893128652,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/800122276","repostId":"1100772026","repostType":4,"isVote":1,"tweetType":1,"viewCount":404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897403613,"gmtCreate":1628952433932,"gmtModify":1631885721606,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"good reading&nbsp;","listText":"good reading&nbsp;","text":"good reading","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/897403613","repostId":"1149823415","repostType":4,"repost":{"id":"1149823415","kind":"news","pubTimestamp":1628909753,"share":"https://www.laohu8.com/m/news/1149823415?lang=zh_CN&edition=full","pubTime":"2021-08-14 10:55","market":"us","language":"en","title":"Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149823415","media":"seekingalpha","summary":"Summary\n\nVirgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"d","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Virgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.</li>  <li>However, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.</li>  <li>We would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.</li>  <li>Lastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00922c9874a28954c08c613b8dbf378b\" tg-width=\"768\" tg-height=\"493\" width=\"100%\" height=\"auto\"><span>Nastco/iStock via Getty Images</span></p><p><blockquote><ul><li>由于市场对影响其私人商业收入服务推出的“延迟”感到失望，维珍银河财报后下跌超过30%。</li><li>然而，我们认为该公司的“延迟”对于纠正供应限制并满足该公司正在经历的巨大需求是必要的。</li><li>我们还将详细讨论公司的长期机遇和威胁，以及投资者未来需要监控的内容。</li><li>最后，我们为正在考虑增加维珍银河投资的长期投资者提出了我们的估值论点。</li></ul><p class=\"t-img-caption\"><span>Nastco/iStock来自Getty Images</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Back in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.</p><p><blockquote>早在5月份，当我们发表关于维珍银河(SPCE)的上一篇文章（链接到本文所附文章）时，我们明确强调，我们认为华尔街的共识对维珍银河的收入预测过于乐观，因为我们认为这些预测夸大了市场根据我们咨询多个来源的研究，未来10年亚轨道太空旅游的机会在很大程度上，我们提交了修订后的预测。</blockquote></p><p> Since then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from&nbsp;late Q3'CY22.</p><p><blockquote>此后，华尔街日报下调了近期预测，因为该公司最近表示，他们预计仅从2022年第三季度末开始提供商业服务。</blockquote></p><p> This article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.</p><p><blockquote>本文将讨论导致维珍银河“延迟”发射的情况、长期机遇以及维珍在亚轨道太空旅游领域寻求领导地位所面临的竞争威胁。</blockquote></p><p> Lastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.</p><p><blockquote>最后，我们将为目前考虑增加该股投资的长期投资者提出我们的估值论点。</blockquote></p><p> <b>Revisions to Virgin Galactic's Mean Consensus Estimates</b></p><p><blockquote><b>对维珍银河平均共识估计的修正</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e15e65a740bf4a03405cd6f31e82bfc\" tg-width=\"640\" tg-height=\"396\" width=\"100%\" height=\"auto\"><span>May's consensus revenue estimates &amp; Aug's consensus revenue estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>5月份的普遍收入估计和8月份的普遍收入估计。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/149d99203d29b3a3e785096ccc509c57\" tg-width=\"600\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Scale of revised estimates (Between May and Aug estimates). Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>修订估计数的规模（5月至8月估计数之间）。数据来源：标普资本智商</span></p></blockquote></p><p> Investors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.</p><p><blockquote>投资者应该能够清楚地收集到，近期共识预期较5月份影响21年至25年的预测有所下调。然而，我们认为投资者需要注意的是，华尔街从CY26大幅上调了其预期，以反映SPCE在最近的盈利看涨期权中强调的强劲需求，我们认为这表明了该公司对强劲收入跑道的信心长期，我们将在后续章节中详细讨论。</blockquote></p><p> <b>Private Commercial Full Revenue Service is Expected from Q3'CY22</b></p><p><blockquote><b>私人商业全收入服务预计从2022年第三季度开始</b></blockquote></p><p> SPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.</p><p><blockquote>自8月5日发布财报以来，SPCE的价值已下跌约33%，我们认为这主要是由于VSS Unity和VSS Unity拟议的关键增强功能导致其商业服务推出“延迟”而带来的近期阻力。母舰VMS Eve将显着增加飞行和维护之间的周转时间。</blockquote></p><p> As a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.</p><p><blockquote>由于Unity 23与意大利空军的创收飞行完成后将进行的增强，该公司预计仅从2022年第三季度末开始其私人商业全面收入服务，我们认为这可能会让投资者大吃一惊，因为虽然市场预计全面商业服务将于2022年开始，但他们预计不会晚于第三季度。</blockquote></p><p> However, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:</p><p><blockquote>然而，我们认为市场再次选择关注近期收入服务延迟带来的不确定性，而忽视了预计将显着改善VMS Eve周转时间的增强功能的重要性，以至于维珍银河强调：</blockquote></p><p>   These enhancements  <i>could potentially allow Eve to fly 100 flights between major maintenance inspections</i>. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.  In addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"</p><p><blockquote>这些增强功能<i>可能允许Eve在主要维护检查之间飞行100次航班</i>这比今天主要检查之间的10个航班间隔有所增加。在早期商业服务期间，当我们正在制造更多母舰时，这将是一个非常重要的成功因素。此外，该公司还强调，随着这些改进，该公司还“目标是减少Unity航班之间的周转航班，时间从VSS Unity的7至8周。”</blockquote></p><p></p><p> The Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"</p><p><blockquote>华尔街和市场当然对这一消息感到失望，因为分析师下调了近期预测并下调了评级，摩根士丹利还强调：“在这个繁重的维护期间，维珍银河在2022年夏季之前都无法进行任何太空飞行。”</blockquote></p><p> Sure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:</p><p><blockquote>当然，没有航班。我们当然不担心，因为该公司重申了这些增强功能的重要性：</blockquote></p><p>   These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and  <i>that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today</i>.\"  If investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:</p><p><blockquote>这些都是对Eve相当稳健的修改。但是，我们为Eve的增强期增加范围和时间的原因是，在此增强期之后，我们将从Eve获得的飞行率是我们计划建立的。在主要检查和我们现在所做的之间，这几乎是10倍。这将使我们能够更频繁地飞行Eve，并且<i>这对我们未来的第一批宇航员以及我们将从今天开始报名的人来说非常重要</i>.“如果投资者能够清楚地收集该公司在上述句子中使用的语言，那么该公司显然这样做是因为他们预计对其太空飞行服务的需求如此强劲，我们认为这可能超出了该公司最初的计划。因此，虽然最近与理查德·布兰森爵士举行的发布会在很大程度上被视为一次重大的公关妙招，但它无疑让该公司能够衡量感兴趣的客户的反应，并且该公司明确表示，他们看到了如此强劲的需求，因此需要开放正如首席执行官迈克尔·科尔格拉齐尔(Michael Colglazier)所阐明的那样，尽快列出优先事项清单：</blockquote></p><p>   Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.  We are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).</p><p><blockquote>利用我们在网站上看到的巨大需求，我很高兴地宣布，我们将很快为希望成为下一个的未来太空旅行者开放一个优先名单。在我们的太空人转换过程结束后，我们将首先向这个列表提供任何可用的库存。该名单的注册将很快在我们的网站上提供...我们对整个潜在市场充满信心，对[理查德·布兰森爵士]Unity 22的反应就表明了这一点。所以我们不会全部吸收，但我们确实认为我们可以在这里向前迈出一大步。我们不确定市场和其他投资者的想法。尽管如此，该公司仍需要找到一种方法来应对供应明显严重受限的情况下的需求。他们在短期内会做的下一件最好的事情是对VMS Eve和VSS Unity进行必要的修改，以确保这些高价值的潜在客户不会去敲杰夫·贝索斯蓝色起源(BORGN)的门。</blockquote></p><p> <b>Are There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?</b></p><p><blockquote><b>真的有那么多迫不及待想上VSS Unity的客户吗？</b></blockquote></p><p> Yes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket&nbsp;holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"</p><p><blockquote>是的，想到该公司期待这么多迫不及待地加入的客户，真是令人难以置信。风险投资公司Hemisphere Ventures的管理合伙人丽莎·里奇(Lisa Rich)明确表示：“……这些年来，我遇到了很多维珍（银河）的持票人。顺便说一句，他们每个人都告诉我，由于他们多年来分享的经历，他们花在等待上的25万美元已经收回了10倍。”</blockquote></p><p> Investors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"</p><p><blockquote>投资者应该清楚地了解，多年来，由600名致力于维珍银河飞行服务的未来宇航员组成的社区形成了一个紧密团结的团体，正如该公司所强调的那样：“我认为在现有的未来宇航员之外可能不为人所知的一件事是维珍银河的秘密武器之一，那就是我们的宇航员办公室。这是一群人，他们将这600人聚集成了一个真正的社区。”</blockquote></p><p> The company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"</p><p><blockquote>该公司强调，这些客户真正重视实现飞行体验的旅程，因为这些客户认为这是一次“人生过渡之旅”。他们看到了维珍银河所做的事情的巨大价值，以至于该公司强调，他们的客户认为加入该公司汇集的社区是“首要考虑的[优先事项]并且非常强大”。</blockquote></p><p> Importantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.</p><p><blockquote>重要的是，该公司还强调，他们已经向通过该公司“一小步”计划注册的1000多名“宇航员”社区开放了门票销售，每个座位的价格从45万美元起，远高于最初600名未来宇航员注册的每个座位20万至25万美元。</blockquote></p><p></p><p> Virgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience<b><i>.</i></b>And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"</p><p><blockquote>维珍银河认为，这些未来的宇航员将成为公司的“销售大使”，因为他们拥有该公司煞费苦心建立的强大而紧密的宇航员社区的经验：“……所以我认为你可以从几个方面来思考终身价值。其中之一是当人们从未来的宇航员毕业生进入宇航员社区时，我认为他们会回来，我认为人们分享这些经验是非常自然的<b><i>.</i></b>我认为他们分享这段经历不仅会让人们说这是多么美妙，还会给人类航天的概念带来常态。因此，当我们将这群人引入时，他们的终身价值是全面的需求，并在他们走出去分享他们所做的事情时继续增加总的潜在市场。”</blockquote></p><p> <b>Strong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage</b></p><p><blockquote><b>强劲的需求证明快速扩大规模以实现强劲的运营杠杆是合理的</b></blockquote></p><p> Astute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.</p><p><blockquote>精明的投资者会清楚地认识到，如果该公司仅依靠VSS Unity或VSS Imagine机队来主导亚轨道太空旅游市场，这在很大程度上是不够的。</blockquote></p><p> Based on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.</p><p><blockquote>根据该公司的指导和华尔街的估计，如果不对VMS Eve进行修改，该公司最初的600名未来宇航员社区的工作至少需要几年时间。</blockquote></p><p> The initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.</p><p><blockquote>2022年的初始节奏（修改前）是最多10个收入航班，总共60名乘客。到2023年，该公司每年最多只能飞行24至36次航班，这将允许他们最多飞行144至216名宇航员。因此，到2025年，维珍银河可能至少还需要2年时间才能开始处理1000名宇航员社区的订单，我们认为到那时，至少其中一些人会去蓝色起源。因此，最初的节奏真的不起作用，特别是该公司准备很快为Unity 22公关活动产生的兴趣制定优先列表，他们需要快速完成1600名未来宇航员的工作，这在短期内将通过Eve的修改来解决，因为它允许SPCE在主要检查之间多飞行10倍。</blockquote></p><p> However, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.</p><p><blockquote>然而，该公司仍然认为这仍然不足以满足他们所经历的需求水平。因此，他们宣布将制造下一代Delta级车辆，“能够每隔一周启动一次”。随着时间的推移，此类船舶预计将构成该公司未来运力的大部分。</blockquote></p><p> Part of the reason that the company needed to raise the&nbsp;$500M equity&nbsp;offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.</p><p><blockquote>该公司最近需要筹集5亿美元股票发行的部分原因是，他们已准备好开始开发和制造Delta级车辆，这将非常有助于满足其长期产能和节奏，VSS Unity和VSS想象永远无法充分满足。</blockquote></p><p> Crucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"</p><p><blockquote>至关重要的是，该公司强调，通过提高达美级的产量和产能，他们将能够实现显著的运营杠杆，正如维珍银河强调的那样：“...这就是为什么我们如此专注于用下一代母舰获得达美级。这是我们真正获得效率的地方。这是我们获得规模的地方。这是你真正看到流通的地方，因为我们将有一个固定的成本基础，便于我们沟通，也便于我们在未来为效率做出贡献。”</blockquote></p><p> <b>Competing Against Blue Origin</b></p><p><blockquote><b>与蓝色起源竞争</b></blockquote></p><p> We think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.</p><p><blockquote>我们认为运营杠杆将成为这里的游戏名称，维珍银河清楚地认识到，对于该公司来说，以其需求驱动因素所证明的足够规模运营以与蓝色起源进行强有力的竞争至关重要。</blockquote></p><p> While we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture&nbsp;and the technology we have chosen is complete overkill for a suborbital tourism mission.”</p><p><blockquote>虽然我们不认为蓝色起源的主要游戏是亚轨道太空旅游，但正如杰夫·贝索斯之前也强调的那样：“我们选择的架构和技术对于亚轨道旅游任务来说完全是矫枉过正。”</blockquote></p><p> We think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"</p><p><blockquote>我们认为蓝色起源的主要市场肯定超出了亚轨道太空旅游，摩根士丹利强调，“贝佐斯先生的公司正在太空市场寻求业务，假设技术快速发展，到2040年，太空市场的规模将扩大两倍，年销售额将超过1万亿美元。实现例行登月、小行星采矿和太空旅游。”</blockquote></p><p> Therefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.</p><p><blockquote>因此，虽然蓝色起源专注于建立其太空殖民地的长期愿景，但我们认为他们肯定能够快速提高产量并获得显着的运营杠杆。关键是这些优势如何在短期内转化为其亚轨道太空旅游领域，这将是决定维珍银河领导地位的关键。</blockquote></p><p></p><p> One thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.</p><p><blockquote>有一件事是肯定的。两家公司预计，随着生产规模的扩大和技术的改进，亚轨道太空旅游门票的价格将随着时间的推移大幅下降。因此，维珍银河在这个市场中的领导地位和生存的关键是尽快获得运营杠杆以建立这些优势，而蓝色起源则忙于其整个领域的各种项目。</blockquote></p><p> Virgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.</p><p><blockquote>维珍银河希望让亚轨道太空旅游变得更加容易，而实现这一目标的关键是通过提高产量实现的运营杠杆来降低价格。因此，我们认为该公司的达美级计划对于维珍银河对抗蓝色起源的领导地位至关重要，并强烈鼓励投资者密切关注这些计划。</blockquote></p><p> <b>Free Cash Flow Forecast &amp; Valuations</b></p><p><blockquote><b>自由现金流预测和估值</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48be5e8da375fdc72591e31b96a223f4\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>EBITDA margin forecast &amp; CapEx margin forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EBITDA利润率预测和资本支出利润率预测。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57509b52b1c0ac46a44e7a0dd619bd97\" tg-width=\"640\" tg-height=\"361\" width=\"100%\" height=\"auto\"><span>EV / Fwd EBITDA trend. Data Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd EBITDA趋势。数据来源：标普资本智商</span></p></blockquote></p><p> Despite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.</p><p><blockquote>尽管全面收入服务的推出推迟到22年第三季度，但华尔街预计该公司将从2024财年末开始实现自由现金流盈利。我们认为这很重要，因为它展示了公司业务在这个市场的长期现金流潜力，目前只有BORGN和SPCE是明显的领导者。</blockquote></p><p> However, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.</p><p><blockquote>然而，到2030年底，估值看起来仍然昂贵，为18.5倍，比航空航天和国防同行13.61倍的平均水平高出36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1084f3186f9732fad8d28b824c65de2a\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"><span>Street's mean price target. Source: TIKR</span></p><p><blockquote><p class=\"t-img-caption\"><span>Street的平均目标价。来源：TIKR</span></p></blockquote></p><p> The Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.</p><p><blockquote>华尔街也不太乐观，平均目标价为35.55美元，仅比上一收盘价高出13.5%，因为分析师关注SPCE将其收入服务转移到2022年第三季度的近期“阻力”，我们认为这对其长期竞争优势非常重要。</blockquote></p><p> While we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.</p><p><blockquote>虽然我们对该公司的长期前景以及将亚轨道太空旅游带给世界的雄心感到非常兴奋，但我们对维珍银河看似昂贵的估值并不那么确定。</blockquote></p><p> <b>SPCE Stock Price Action and Trend Analysis</b></p><p><blockquote><b>SPCE股价走势及趋势分析</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f872b3e8670eac6d5ca4d8afce15200\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> While we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.</p><p><blockquote>虽然鉴于SPCE的估值昂贵，我们认为SPCE不适合长期投资者，但我们认为头寸交易者仍可能发现该股潜伏的机会。</blockquote></p><p> SPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.</p><p><blockquote>SPCE在50周移动平均线动态支撑位上受到强有力的支撑，该支撑位自2020年以来一直保持强劲，包括最近5月份出现的下行错误突破（熊市陷阱）。因此，我们希望，一旦价格走势在未来几周内自行解决，热衷于交易该股票的头寸交易者可能会找到机会。</blockquote></p><p> In summary, we assign a neutral rating to SPCE for long-term investors.</p><p><blockquote>综上所述，我们为长期投资者给予SPCE中性评级。</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>Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhere Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-14 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Virgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.</li>  <li>However, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.</li>  <li>We would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.</li>  <li>Lastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00922c9874a28954c08c613b8dbf378b\" tg-width=\"768\" tg-height=\"493\" width=\"100%\" height=\"auto\"><span>Nastco/iStock via Getty Images</span></p><p><blockquote><ul><li>由于市场对影响其私人商业收入服务推出的“延迟”感到失望，维珍银河财报后下跌超过30%。</li><li>然而，我们认为该公司的“延迟”对于纠正供应限制并满足该公司正在经历的巨大需求是必要的。</li><li>我们还将详细讨论公司的长期机遇和威胁，以及投资者未来需要监控的内容。</li><li>最后，我们为正在考虑增加维珍银河投资的长期投资者提出了我们的估值论点。</li></ul><p class=\"t-img-caption\"><span>Nastco/iStock来自Getty Images</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Back in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.</p><p><blockquote>早在5月份，当我们发表关于维珍银河(SPCE)的上一篇文章（链接到本文所附文章）时，我们明确强调，我们认为华尔街的共识对维珍银河的收入预测过于乐观，因为我们认为这些预测夸大了市场根据我们咨询多个来源的研究，未来10年亚轨道太空旅游的机会在很大程度上，我们提交了修订后的预测。</blockquote></p><p> Since then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from&nbsp;late Q3'CY22.</p><p><blockquote>此后，华尔街日报下调了近期预测，因为该公司最近表示，他们预计仅从2022年第三季度末开始提供商业服务。</blockquote></p><p> This article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.</p><p><blockquote>本文将讨论导致维珍银河“延迟”发射的情况、长期机遇以及维珍在亚轨道太空旅游领域寻求领导地位所面临的竞争威胁。</blockquote></p><p> Lastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.</p><p><blockquote>最后，我们将为目前考虑增加该股投资的长期投资者提出我们的估值论点。</blockquote></p><p> <b>Revisions to Virgin Galactic's Mean Consensus Estimates</b></p><p><blockquote><b>对维珍银河平均共识估计的修正</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e15e65a740bf4a03405cd6f31e82bfc\" tg-width=\"640\" tg-height=\"396\" width=\"100%\" height=\"auto\"><span>May's consensus revenue estimates &amp; Aug's consensus revenue estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>5月份的普遍收入估计和8月份的普遍收入估计。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/149d99203d29b3a3e785096ccc509c57\" tg-width=\"600\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Scale of revised estimates (Between May and Aug estimates). Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>修订估计数的规模（5月至8月估计数之间）。数据来源：标普资本智商</span></p></blockquote></p><p> Investors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.</p><p><blockquote>投资者应该能够清楚地收集到，近期共识预期较5月份影响21年至25年的预测有所下调。然而，我们认为投资者需要注意的是，华尔街从CY26大幅上调了其预期，以反映SPCE在最近的盈利看涨期权中强调的强劲需求，我们认为这表明了该公司对强劲收入跑道的信心长期，我们将在后续章节中详细讨论。</blockquote></p><p> <b>Private Commercial Full Revenue Service is Expected from Q3'CY22</b></p><p><blockquote><b>私人商业全收入服务预计从2022年第三季度开始</b></blockquote></p><p> SPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.</p><p><blockquote>自8月5日发布财报以来，SPCE的价值已下跌约33%，我们认为这主要是由于VSS Unity和VSS Unity拟议的关键增强功能导致其商业服务推出“延迟”而带来的近期阻力。母舰VMS Eve将显着增加飞行和维护之间的周转时间。</blockquote></p><p> As a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.</p><p><blockquote>由于Unity 23与意大利空军的创收飞行完成后将进行的增强，该公司预计仅从2022年第三季度末开始其私人商业全面收入服务，我们认为这可能会让投资者大吃一惊，因为虽然市场预计全面商业服务将于2022年开始，但他们预计不会晚于第三季度。</blockquote></p><p> However, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:</p><p><blockquote>然而，我们认为市场再次选择关注近期收入服务延迟带来的不确定性，而忽视了预计将显着改善VMS Eve周转时间的增强功能的重要性，以至于维珍银河强调：</blockquote></p><p>   These enhancements  <i>could potentially allow Eve to fly 100 flights between major maintenance inspections</i>. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.  In addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"</p><p><blockquote>这些增强功能<i>可能允许Eve在主要维护检查之间飞行100次航班</i>这比今天主要检查之间的10个航班间隔有所增加。在早期商业服务期间，当我们正在制造更多母舰时，这将是一个非常重要的成功因素。此外，该公司还强调，随着这些改进，该公司还“目标是减少Unity航班之间的周转航班，时间从VSS Unity的7至8周。”</blockquote></p><p></p><p> The Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"</p><p><blockquote>华尔街和市场当然对这一消息感到失望，因为分析师下调了近期预测并下调了评级，摩根士丹利还强调：“在这个繁重的维护期间，维珍银河在2022年夏季之前都无法进行任何太空飞行。”</blockquote></p><p> Sure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:</p><p><blockquote>当然，没有航班。我们当然不担心，因为该公司重申了这些增强功能的重要性：</blockquote></p><p>   These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and  <i>that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today</i>.\"  If investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:</p><p><blockquote>这些都是对Eve相当稳健的修改。但是，我们为Eve的增强期增加范围和时间的原因是，在此增强期之后，我们将从Eve获得的飞行率是我们计划建立的。在主要检查和我们现在所做的之间，这几乎是10倍。这将使我们能够更频繁地飞行Eve，并且<i>这对我们未来的第一批宇航员以及我们将从今天开始报名的人来说非常重要</i>.“如果投资者能够清楚地收集该公司在上述句子中使用的语言，那么该公司显然这样做是因为他们预计对其太空飞行服务的需求如此强劲，我们认为这可能超出了该公司最初的计划。因此，虽然最近与理查德·布兰森爵士举行的发布会在很大程度上被视为一次重大的公关妙招，但它无疑让该公司能够衡量感兴趣的客户的反应，并且该公司明确表示，他们看到了如此强劲的需求，因此需要开放正如首席执行官迈克尔·科尔格拉齐尔(Michael Colglazier)所阐明的那样，尽快列出优先事项清单：</blockquote></p><p>   Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.  We are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).</p><p><blockquote>利用我们在网站上看到的巨大需求，我很高兴地宣布，我们将很快为希望成为下一个的未来太空旅行者开放一个优先名单。在我们的太空人转换过程结束后，我们将首先向这个列表提供任何可用的库存。该名单的注册将很快在我们的网站上提供...我们对整个潜在市场充满信心，对[理查德·布兰森爵士]Unity 22的反应就表明了这一点。所以我们不会全部吸收，但我们确实认为我们可以在这里向前迈出一大步。我们不确定市场和其他投资者的想法。尽管如此，该公司仍需要找到一种方法来应对供应明显严重受限的情况下的需求。他们在短期内会做的下一件最好的事情是对VMS Eve和VSS Unity进行必要的修改，以确保这些高价值的潜在客户不会去敲杰夫·贝索斯蓝色起源(BORGN)的门。</blockquote></p><p> <b>Are There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?</b></p><p><blockquote><b>真的有那么多迫不及待想上VSS Unity的客户吗？</b></blockquote></p><p> Yes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket&nbsp;holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"</p><p><blockquote>是的，想到该公司期待这么多迫不及待地加入的客户，真是令人难以置信。风险投资公司Hemisphere Ventures的管理合伙人丽莎·里奇(Lisa Rich)明确表示：“……这些年来，我遇到了很多维珍（银河）的持票人。顺便说一句，他们每个人都告诉我，由于他们多年来分享的经历，他们花在等待上的25万美元已经收回了10倍。”</blockquote></p><p> Investors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"</p><p><blockquote>投资者应该清楚地了解，多年来，由600名致力于维珍银河飞行服务的未来宇航员组成的社区形成了一个紧密团结的团体，正如该公司所强调的那样：“我认为在现有的未来宇航员之外可能不为人所知的一件事是维珍银河的秘密武器之一，那就是我们的宇航员办公室。这是一群人，他们将这600人聚集成了一个真正的社区。”</blockquote></p><p> The company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"</p><p><blockquote>该公司强调，这些客户真正重视实现飞行体验的旅程，因为这些客户认为这是一次“人生过渡之旅”。他们看到了维珍银河所做的事情的巨大价值，以至于该公司强调，他们的客户认为加入该公司汇集的社区是“首要考虑的[优先事项]并且非常强大”。</blockquote></p><p> Importantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.</p><p><blockquote>重要的是，该公司还强调，他们已经向通过该公司“一小步”计划注册的1000多名“宇航员”社区开放了门票销售，每个座位的价格从45万美元起，远高于最初600名未来宇航员注册的每个座位20万至25万美元。</blockquote></p><p></p><p> Virgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience<b><i>.</i></b>And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"</p><p><blockquote>维珍银河认为，这些未来的宇航员将成为公司的“销售大使”，因为他们拥有该公司煞费苦心建立的强大而紧密的宇航员社区的经验：“……所以我认为你可以从几个方面来思考终身价值。其中之一是当人们从未来的宇航员毕业生进入宇航员社区时，我认为他们会回来，我认为人们分享这些经验是非常自然的<b><i>.</i></b>我认为他们分享这段经历不仅会让人们说这是多么美妙，还会给人类航天的概念带来常态。因此，当我们将这群人引入时，他们的终身价值是全面的需求，并在他们走出去分享他们所做的事情时继续增加总的潜在市场。”</blockquote></p><p> <b>Strong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage</b></p><p><blockquote><b>强劲的需求证明快速扩大规模以实现强劲的运营杠杆是合理的</b></blockquote></p><p> Astute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.</p><p><blockquote>精明的投资者会清楚地认识到，如果该公司仅依靠VSS Unity或VSS Imagine机队来主导亚轨道太空旅游市场，这在很大程度上是不够的。</blockquote></p><p> Based on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.</p><p><blockquote>根据该公司的指导和华尔街的估计，如果不对VMS Eve进行修改，该公司最初的600名未来宇航员社区的工作至少需要几年时间。</blockquote></p><p> The initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.</p><p><blockquote>2022年的初始节奏（修改前）是最多10个收入航班，总共60名乘客。到2023年，该公司每年最多只能飞行24至36次航班，这将允许他们最多飞行144至216名宇航员。因此，到2025年，维珍银河可能至少还需要2年时间才能开始处理1000名宇航员社区的订单，我们认为到那时，至少其中一些人会去蓝色起源。因此，最初的节奏真的不起作用，特别是该公司准备很快为Unity 22公关活动产生的兴趣制定优先列表，他们需要快速完成1600名未来宇航员的工作，这在短期内将通过Eve的修改来解决，因为它允许SPCE在主要检查之间多飞行10倍。</blockquote></p><p> However, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.</p><p><blockquote>然而，该公司仍然认为这仍然不足以满足他们所经历的需求水平。因此，他们宣布将制造下一代Delta级车辆，“能够每隔一周启动一次”。随着时间的推移，此类船舶预计将构成该公司未来运力的大部分。</blockquote></p><p> Part of the reason that the company needed to raise the&nbsp;$500M equity&nbsp;offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.</p><p><blockquote>该公司最近需要筹集5亿美元股票发行的部分原因是，他们已准备好开始开发和制造Delta级车辆，这将非常有助于满足其长期产能和节奏，VSS Unity和VSS想象永远无法充分满足。</blockquote></p><p> Crucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"</p><p><blockquote>至关重要的是，该公司强调，通过提高达美级的产量和产能，他们将能够实现显著的运营杠杆，正如维珍银河强调的那样：“...这就是为什么我们如此专注于用下一代母舰获得达美级。这是我们真正获得效率的地方。这是我们获得规模的地方。这是你真正看到流通的地方，因为我们将有一个固定的成本基础，便于我们沟通，也便于我们在未来为效率做出贡献。”</blockquote></p><p> <b>Competing Against Blue Origin</b></p><p><blockquote><b>与蓝色起源竞争</b></blockquote></p><p> We think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.</p><p><blockquote>我们认为运营杠杆将成为这里的游戏名称，维珍银河清楚地认识到，对于该公司来说，以其需求驱动因素所证明的足够规模运营以与蓝色起源进行强有力的竞争至关重要。</blockquote></p><p> While we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture&nbsp;and the technology we have chosen is complete overkill for a suborbital tourism mission.”</p><p><blockquote>虽然我们不认为蓝色起源的主要游戏是亚轨道太空旅游，但正如杰夫·贝索斯之前也强调的那样：“我们选择的架构和技术对于亚轨道旅游任务来说完全是矫枉过正。”</blockquote></p><p> We think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"</p><p><blockquote>我们认为蓝色起源的主要市场肯定超出了亚轨道太空旅游，摩根士丹利强调，“贝佐斯先生的公司正在太空市场寻求业务，假设技术快速发展，到2040年，太空市场的规模将扩大两倍，年销售额将超过1万亿美元。实现例行登月、小行星采矿和太空旅游。”</blockquote></p><p> Therefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.</p><p><blockquote>因此，虽然蓝色起源专注于建立其太空殖民地的长期愿景，但我们认为他们肯定能够快速提高产量并获得显着的运营杠杆。关键是这些优势如何在短期内转化为其亚轨道太空旅游领域，这将是决定维珍银河领导地位的关键。</blockquote></p><p></p><p> One thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.</p><p><blockquote>有一件事是肯定的。两家公司预计，随着生产规模的扩大和技术的改进，亚轨道太空旅游门票的价格将随着时间的推移大幅下降。因此，维珍银河在这个市场中的领导地位和生存的关键是尽快获得运营杠杆以建立这些优势，而蓝色起源则忙于其整个领域的各种项目。</blockquote></p><p> Virgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.</p><p><blockquote>维珍银河希望让亚轨道太空旅游变得更加容易，而实现这一目标的关键是通过提高产量实现的运营杠杆来降低价格。因此，我们认为该公司的达美级计划对于维珍银河对抗蓝色起源的领导地位至关重要，并强烈鼓励投资者密切关注这些计划。</blockquote></p><p> <b>Free Cash Flow Forecast &amp; Valuations</b></p><p><blockquote><b>自由现金流预测和估值</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48be5e8da375fdc72591e31b96a223f4\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>EBITDA margin forecast &amp; CapEx margin forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EBITDA利润率预测和资本支出利润率预测。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57509b52b1c0ac46a44e7a0dd619bd97\" tg-width=\"640\" tg-height=\"361\" width=\"100%\" height=\"auto\"><span>EV / Fwd EBITDA trend. Data Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd EBITDA趋势。数据来源：标普资本智商</span></p></blockquote></p><p> Despite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.</p><p><blockquote>尽管全面收入服务的推出推迟到22年第三季度，但华尔街预计该公司将从2024财年末开始实现自由现金流盈利。我们认为这很重要，因为它展示了公司业务在这个市场的长期现金流潜力，目前只有BORGN和SPCE是明显的领导者。</blockquote></p><p> However, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.</p><p><blockquote>然而，到2030年底，估值看起来仍然昂贵，为18.5倍，比航空航天和国防同行13.61倍的平均水平高出36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1084f3186f9732fad8d28b824c65de2a\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"><span>Street's mean price target. Source: TIKR</span></p><p><blockquote><p class=\"t-img-caption\"><span>Street的平均目标价。来源：TIKR</span></p></blockquote></p><p> The Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.</p><p><blockquote>华尔街也不太乐观，平均目标价为35.55美元，仅比上一收盘价高出13.5%，因为分析师关注SPCE将其收入服务转移到2022年第三季度的近期“阻力”，我们认为这对其长期竞争优势非常重要。</blockquote></p><p> While we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.</p><p><blockquote>虽然我们对该公司的长期前景以及将亚轨道太空旅游带给世界的雄心感到非常兴奋，但我们对维珍银河看似昂贵的估值并不那么确定。</blockquote></p><p> <b>SPCE Stock Price Action and Trend Analysis</b></p><p><blockquote><b>SPCE股价走势及趋势分析</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f872b3e8670eac6d5ca4d8afce15200\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> While we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.</p><p><blockquote>虽然鉴于SPCE的估值昂贵，我们认为SPCE不适合长期投资者，但我们认为头寸交易者仍可能发现该股潜伏的机会。</blockquote></p><p> SPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.</p><p><blockquote>SPCE在50周移动平均线动态支撑位上受到强有力的支撑，该支撑位自2020年以来一直保持强劲，包括最近5月份出现的下行错误突破（熊市陷阱）。因此，我们希望，一旦价格走势在未来几周内自行解决，热衷于交易该股票的头寸交易者可能会找到机会。</blockquote></p><p> In summary, we assign a neutral rating to SPCE for long-term investors.</p><p><blockquote>综上所述，我们为长期投资者给予SPCE中性评级。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4449270-virgin-galactic-stock-10-years\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://seekingalpha.com/article/4449270-virgin-galactic-stock-10-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149823415","content_text":"Summary\n\nVirgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.\nHowever, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.\nWe would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.\nLastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.\n\nNastco/iStock via Getty Images\nInvestment Thesis\nBack in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.\nSince then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from late Q3'CY22.\nThis article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.\nLastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.\nRevisions to Virgin Galactic's Mean Consensus Estimates\nMay's consensus revenue estimates & Aug's consensus revenue estimates. Data source: S&P Capital IQ\nScale of revised estimates (Between May and Aug estimates). Data source: S&P Capital IQ\nInvestors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.\nPrivate Commercial Full Revenue Service is Expected from Q3'CY22\nSPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.\nAs a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.\nHowever, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:\n\n These enhancements\n could potentially allow Eve to fly 100 flights between major maintenance inspections. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.\n\nIn addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"\nThe Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"\nSure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:\n\n These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and\n that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today.\"\n\nIf investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:\n\n Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.\n\nWe are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).\nAre There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?\nYes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"\nInvestors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"\nThe company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"\nImportantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.\nVirgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience.And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"\nStrong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage\nAstute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.\nBased on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.\nThe initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.\nHowever, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.\nPart of the reason that the company needed to raise the $500M equity offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.\nCrucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"\nCompeting Against Blue Origin\nWe think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.\nWhile we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture and the technology we have chosen is complete overkill for a suborbital tourism mission.”\nWe think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"\nTherefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.\nOne thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.\nVirgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.\nFree Cash Flow Forecast & Valuations\nEBITDA margin forecast & CapEx margin forecast. Data source: S&P Capital IQ\nEV / Fwd EBITDA trend. Data Source: S&P Capital IQ\nDespite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.\nHowever, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.\nStreet's mean price target. Source: TIKR\nThe Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.\nWhile we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.\nSPCE Stock Price Action and Trend Analysis\nSource: TradingView\nWhile we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.\nSPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.\nIn summary, we assign a neutral rating to SPCE for long-term investors.","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":3227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895017224,"gmtCreate":1628694122968,"gmtModify":1631885721646,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"like &nbsp;comment","listText":"like &nbsp;comment","text":"like comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/895017224","repostId":"1141858457","repostType":4,"repost":{"id":"1141858457","kind":"news","pubTimestamp":1628693066,"share":"https://www.laohu8.com/m/news/1141858457?lang=zh_CN&edition=full","pubTime":"2021-08-11 22:44","market":"us","language":"en","title":"Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141858457","media":"Benzinga","summary":"The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with","content":"<p><div> The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-...</p><p><blockquote><div>华特·迪士尼公司和《黑寡妇》明星斯嘉丽·约翰逊之间的不和有了新的转折，据报道，该公司取消了之前宣布的两届奥斯卡奖的计划项目...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</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\">\nDisney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-11 22:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-...</p><p><blockquote><div>华特·迪士尼公司和《黑寡妇》明星斯嘉丽·约翰逊之间的不和有了新的转折，据报道，该公司取消了之前宣布的两届奥斯卡奖的计划项目...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">Benzinga</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":{"DIS":"迪士尼"},"source_url":"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141858457","content_text":"The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-nominated actress.\nWhat Happened:According to a report on the entertainment siteGiantFreakinRobot.combased on information from “one of our trusted and proven inside sources,” Disney has dropped the “Tower of Terror” project that Johansson was scheduled to star in and produce through her These Pictures company.\n“Tower of Terror” is based on the popular Disney theme park ride.Colliderfirst reported the project had the greenlight in June, with “Toy Story 4” director Josh Cooley at work on a screenplay. The ride inspired a 1997 made-for-television Disney film with Steve Guttenbergand the studio has trying to develop a theatrical feature since 2015.\nWhat Else Happened:Besides giving “Tower of Terror” the kibosh, the studio is also closing the door on any potential future projects with Johansson, whosued Disneyover breach of contract in connection with having her “Black Widow” salary linked to the film’s theatrical release. The studio gave the film a simultaneous theatrical and streaming release, which Johansson said violated her contract and ensured she would be receiving less money for her performance.\nJohansson’s only other 2021 film role will be a voice performance in the animated film “Sing 2” from Comcast Corporation’s Universal Pictures, which is scheduled for a December release. She is in pre-production as star and producer on the science-fiction drama “Bride,” which will be released by A24 and Apple Inc. .\nIn early 2020, Johansson and Chris Evans were cited in multiple entertainment media sources as being in talks to star in a remake of the musical “Little Shop of Horrors” for the AT&T subsidiary Warner Bros. However, Evans told an interviewer in March the project has been put on indefinite hold because the projected film budget became too large.","news_type":1,"symbols_score_info":{"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":2450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803775220,"gmtCreate":1627469022960,"gmtModify":1631890938749,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"good to follow [Happy]&nbsp;","listText":"good to follow [Happy]&nbsp;","text":"good to follow [Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/803775220","repostId":"1181811581","repostType":4,"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148900415,"gmtCreate":1625908168237,"gmtModify":1633936165604,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"watchlist！","listText":"watchlist！","text":"watchlist！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148900415","repostId":"2150370120","repostType":4,"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175797471,"gmtCreate":1627048718593,"gmtModify":1631893128663,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"watchlist updated [Happy]&nbsp;","listText":"watchlist updated [Happy]&nbsp;","text":"watchlist updated [Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175797471","repostId":"2153983997","repostType":4,"isVote":1,"tweetType":1,"viewCount":277,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176159390,"gmtCreate":1626873550910,"gmtModify":1631893128689,"author":{"id":"4087899430188250","authorId":"4087899430188250","name":"JadynY","avatar":"https://static.tigerbbs.com/d39e159a365bae2e9344addcdc09e350","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087899430188250","authorIdStr":"4087899430188250"},"themes":[],"htmlText":"let keep watch… [Miser]&nbsp;","listText":"let keep watch… [Miser]&nbsp;","text":"let keep watch… [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/176159390","repostId":"1172321314","repostType":4,"isVote":1,"tweetType":1,"viewCount":321,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}