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HolyGrail
2021-02-09
Yes
Is Tesla’s $1.5 billion bitcoin buy smart corporate finance? Experts weigh in<blockquote>特斯拉斥资15亿美元收购比特币是明智的企业融资吗?专家发表意见</blockquote>
HolyGrail
2021-02-09
Nice
Earnings Grow for the First Time During the Pandemic. What That Means for Investors.<blockquote>疫情期间收入首次增长。这对投资者意味着什么。</blockquote>
HolyGrail
2021-02-08
Nice
抱歉,原内容已删除
HolyGrail
2021-02-06
Nice good job
抱歉,原内容已删除
HolyGrail
2021-02-05
Nice cjckckf cjckckfkdo ckcockfmfk gkgkgk gkkg
盘前异动:极光涨35%,流利说暴涨100%
HolyGrail
2021-02-03
Nice stock room to grow
HolyGrail
2021-02-03
Nice
U.S. senators urge White House action on auto chip shortage<blockquote>美国参议员敦促白宫对汽车芯片短缺采取行动</blockquote>
HolyGrail
2021-02-01
Nice
抱歉,原内容已删除
HolyGrail
2021-02-01
Nice
抱歉,原内容已删除
HolyGrail
2021-02-01
Nice
抱歉,原内容已删除
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11:05","market":"fut","language":"en","title":"Is Tesla’s $1.5 billion bitcoin buy smart corporate finance? Experts weigh in<blockquote>特斯拉斥资15亿美元收购比特币是明智的企业融资吗?专家发表意见</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143370300","media":"MarketWatch","summary":"Tesla Inc. on Monday said that it bought $1.5 billion in bitcoin, a purchase that comes after CEO Elon Musk has promoted the world’s No. 1 digital asset,along with other cryptos, in recent weeks.Bitcoin’s price already on a stratospheric rise, garnered an additional fillip from the announcement, with a single bitcoin changing hands on Monday at $42,709, up over 9%. Prices touched a record peak near $45,000.But one of the key questions swirling around the decision by the manufacturer of electric ","content":"<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4d612c15beca2f2d4d56a304cff74080\" tg-width=\"1260\" tg-height=\"876\"><span>MARKETWATCH PHOTO ILLUSTRATION/GETTY IMAGES|, ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/GETTY IMAGES|,ISTOCKPHOTO</span></p></blockquote></p><p> Tesla Inc. on Monday said that it bought $1.5 billion in bitcoin, a purchase that comes after CEO Elon Musk has promoted the world’s No. 1 digital asset,along with other cryptos, in recent weeks.</p><p><blockquote>特斯拉公司周一表示,它以15亿美元的价格收购了比特币,此前首席执行官Elon Musk最近几周推广了全球第一大数字资产以及其他加密货币。</blockquote></p><p> Bitcoin’s price already on a stratospheric rise, garnered an additional fillip from the announcement, with a single bitcoin changing hands on Monday at $42,709, up over 9%. Prices touched a record peak near $45,000.</p><p><blockquote>比特币的价格已经大幅上涨,这一消息进一步刺激了比特币的价格,周一一只比特币易手,价格为42,709美元,涨幅超过9%。价格创下近45,000美元的历史新高。</blockquote></p><p> But one of the key questions swirling around the decision by the manufacturer of electric vehicles is whether the move, including the decision to eventually allow for the sale of its products to take place in bitcoins, is a prudent use of capital. It’s a question that’s particularly important given the wild swings that both shares of Tesla and bitcoin are prone to, even if those assets have both been on a nearly uninterrupted ride higher.</p><p><blockquote>但围绕这家电动汽车制造商决定的一个关键问题是,此举(包括最终允许以比特币销售其产品的决定)是否是对资本的审慎使用。考虑到特斯拉和比特币的股价都容易出现剧烈波动,这个问题尤为重要,即使这些资产都几乎不间断地走高。</blockquote></p><p> “I think this is awful strategy on many, many levels,” Christopher Schwarz, associate professor of finance and faculty director of the Center for Investment and Wealth Management at the University of California at Irvine in emailed comments.</p><p><blockquote>加州大学欧文分校金融学副教授兼投资与财富管理中心主任克里斯托弗·施瓦茨(Christopher Schwarz)在电子邮件评论中表示:“我认为这在很多很多层面上都是糟糕的策略。”</blockquote></p><p> “In essence, this is like creating [currency] risk since none of Tesla’s suppliers are paid in bitcoin,” Schwarz told MarketWatch.</p><p><blockquote>施瓦茨告诉MarketWatch:“从本质上讲,这就像制造[货币]风险,因为特斯拉的供应商都没有在比特币获得付款。”</blockquote></p><p> An email to the company for comment wasn’t immediately returned.</p><p><blockquote>发给该公司征求评论的电子邮件没有立即得到回复。</blockquote></p><p> Musk’s moves come as Tesla focuses on ramping up its production of electric vehicles, with its share price soaring but the auto maker still a relatively niche player despite its market value of over $800 billion.</p><p><blockquote>马斯克采取这些举措之际,特斯拉正专注于提高电动汽车产量,其股价飙升,但尽管市值超过8000亿美元,这家汽车制造商仍然是一个相对小众的参与者。</blockquote></p><p> Shares of Tesla are up an eye-popping 472% over the past 12 months, making it one of the few traditional stocks that have outperformed bitcoin’s gain of 337% over the same stretch,</p><p><blockquote>特斯拉的股价在过去12个月内上涨了令人瞠目结舌的472%,使其成为少数表现优于比特币同期337%涨幅的传统股票之一。</blockquote></p><p> The Wall Street Journal notedthat Tesla has taken advantage of its rabid investor base and its share price rally to bolster its cash position, bringing its cash holdings to around $19.4 billion at the end of last year, up from around $6.3 billion at the end of 2019.</p><p><blockquote>《华尔街日报》指出,特斯拉利用其狂热的投资者基础和股价上涨来增强其现金头寸,使其现金持有量从去年年底的约63亿美元增至去年年底的约194亿美元。2019年。</blockquote></p><p> That means that its current bitcoin allocation represents about 8% of its cash holdings.</p><p><blockquote>这意味着其目前的比特币配置约占其现金持有量的8%。</blockquote></p><p> “Tesla’s purchase of bitcoin is an unusual use of corporate cash, which is typically held in safer and less volatile assets, such as short-term fixed income securities to ensure liquidity and limit volatility,” Jerry Klein, managing director and partner at Treasury Partners, based in New York, told MarketWatch via email.</p><p><blockquote>Treasury董事总经理兼合伙人Jerry Klein表示:“特斯拉购买比特币是对企业现金的不同寻常的使用,这些现金通常持有在更安全、波动性更小的资产中,例如短期固定收益证券,以确保流动性并限制波动性。”总部位于纽约的合伙人通过电子邮件告诉MarketWatch。</blockquote></p><p> “While Tesla shareholders are reacting positively to the news, it remains to be seen how shareholders would react if a decline in bitcoin’s price negatively affects Tesla’s future earnings,” Klein said. “CFOs are willing to accept risk in their overall business, but not with the cash on their balance sheet. While bitcoin has been surging in recent months, it’s been very volatile over the past few years,” he said.</p><p><blockquote>Klein表示:“虽然特斯拉股东对这一消息反应积极,但如果比特币股价下跌对特斯拉未来盈利产生负面影响,股东将如何反应还有待观察。”“首席财务官愿意接受整体业务的风险,但不愿意接受资产负债表上的现金。虽然比特币近几个月来一直在飙升,但过去几年一直非常不稳定,”他说。</blockquote></p><p> To be sure, Tesla isn’t the first company, and isn’t likely to be the last, to apportion some share of holdings to bitcoin. Software company MicroStrategy Inc. last year acquired somce bitcoin and has been a champion of other corporations do so.</p><p><blockquote>可以肯定的是,特斯拉不是第一家,也不太可能是最后一家向比特币分配部分股份的公司。软件公司MicroStrategy Inc.去年收购了somce比特币公司,并一直是其他公司这样做的倡导者。</blockquote></p><p> MicroStrategy, which recently hosted a virtual conference on the utility of bitcoin for corporations, estimates that roughly $50 billion worth of bitcoin is owned by private and publicly traded companies, citing data from BitcoinTreasuries.org.</p><p><blockquote>MicroStrategy最近举办了一次关于企业比特币效用的虚拟会议,援引BitcoinTreasuries.org的数据估计,价值约500亿美元的比特币归私营和上市公司所有。</blockquote></p><p> MicroStrategy reported that about 8,200 people attended its weekend conference from nearly 7,000 companies.</p><p><blockquote>MicroStrategy报告称,来自近7,000家公司的约8,200人参加了其周末会议。</blockquote></p><p> Back to Tesla, Joe Osha, a Tesla analyst at JMP Securities told MarketWatch in a Monday afternoon phone interview that the electric-vehicle maker is often framed as having cash management troubles but believes that that is a bogus assesment.</p><p><blockquote>回到特斯拉,JMP证券(JMP Securities)特斯拉分析师乔·奥沙(Joe Osha)在周一下午的电话采访中告诉MarketWatch,这家电动汽车制造商经常被认为存在现金管理问题,但他认为这是一个虚假的评估。</blockquote></p><p> “I think that there’s this very stale narrative around Tesla’s liquidity that is no longer consistent around its balance sheet or its cash flow generation,” Osha said.</p><p><blockquote>Osha表示:“我认为,围绕特斯拉流动性的叙述非常陈旧,其资产负债表或现金流生成不再一致。”</blockquote></p><p> He makes the case that the companies investment in bitcoin is trivial against the scale of its ability to generate cash, and aligns with the company’s strategy of being a disrupter.</p><p><blockquote>他认为,相对于其产生现金的能力规模,该公司在比特币的投资微不足道,并且符合该公司成为颠覆者的战略。</blockquote></p><p> “I see it as another step in Tesla’s effort to reinvent how cars are sold and delivered to people,” said Osha, who is referring to Tesla’s direct-to-customer sales model. Osha estimates that Tesla generated about $1.868 billion in free cash flow in the December quarter.</p><p><blockquote>“我认为这是特斯拉重塑汽车销售和交付方式的又一步,”Osha说,他指的是特斯拉直接面向客户的销售模式。Osha估计,特斯拉在12月份季度产生了约18.68亿美元的自由现金流。</blockquote></p><p> Chester Spatt, professor at Carnegie Mellon University’s Tepper School of Business, told MarketWatch that bitcoin’s volatility makes it a tough asset to serve as a reserve asset for corporations or a medium of exchange.</p><p><blockquote>卡耐基梅隆大学泰珀商学院教授Chester Spatt告诉MarketWatch,比特币的波动性使其很难作为企业的储备资产或交易媒介。</blockquote></p><p></p><p> “You have volatility here that’s about 10 times that of the euro ,” the professor, who served as economist and director of the Securities and Exchange Commission’s Office of Economic Analysis from 2004-07 , said.</p><p><blockquote>“这里的波动性大约是欧元的10倍,”这位教授说,他曾在2004年至2007年期间担任经济学家兼美国证券交易委员会经济分析办公室主任。</blockquote></p><p> “That movement poses a lot of challenges for a corporation to hold [bitcoin] on their balance sheet but it also poses challenges from the point of the consumer,” he said.</p><p><blockquote>“这一运动给公司在资产负债表上保留[比特币]带来了很多挑战,但从消费者的角度来看,它也带来了挑战,”他说。</blockquote></p><p> Shares of Tesla closed up 1.3% on Monday.</p><p><blockquote>特斯拉股价周一收盘上涨1.3%。</blockquote></p><p> Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender, said that it may make some sense for corporations to put some of their “dry powder” in bitcoin, especially with interest rates near 0% and the U.S. dollar under pressure, as measured by the ICE U.S. Dollar Index,which is down nearly 8% over the past year, FactSet data show.</p><p><blockquote>加密货币贷款机构Nexo的联合创始人兼管理合伙人Antoni Trenchev表示,对于企业来说,将一些“干粉”放在比特币可能有一定意义,特别是在利率接近0%且美元面临压力的情况下FactSet数据显示,ICE美元指数在过去一年中下跌了近8%。</blockquote></p><p> “Corporations with ever increasing dry powder have a most obvious cash management option: partial BTC allocation,” Trenchev told MarketWatch.</p><p><blockquote>Trenchev告诉MarketWatch:“干粉不断增加的公司有一个最明显的现金管理选择:部分BTC分配。”</blockquote></p><p> “Sitting on piles of cash offers little to no return and gets constantly devalued by central banks’ excessive QE measures. Having a treasury policy that diversifies risk and return, as well as looking into ‘the fastest horse’, is not only a sound policy, but is also the one that most adheres to the key principle of maximizing shareholder value,” he said.</p><p><blockquote>“坐拥大量现金几乎没有回报,并且因央行过度的量化宽松措施而不断贬值。制定分散风险和回报的财政部政策,以及寻找‘最快的马’,不仅是一项合理的政策,但也是最坚持股东价值最大化关键原则的政策,”他说。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Tesla’s $1.5 billion bitcoin buy smart corporate finance? Experts weigh in<blockquote>特斯拉斥资15亿美元收购比特币是明智的企业融资吗?专家发表意见</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Tesla’s $1.5 billion bitcoin buy smart corporate finance? Experts weigh in<blockquote>特斯拉斥资15亿美元收购比特币是明智的企业融资吗?专家发表意见</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-09 11:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4d612c15beca2f2d4d56a304cff74080\" tg-width=\"1260\" tg-height=\"876\"><span>MARKETWATCH PHOTO ILLUSTRATION/GETTY IMAGES|, ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/GETTY IMAGES|,ISTOCKPHOTO</span></p></blockquote></p><p> Tesla Inc. on Monday said that it bought $1.5 billion in bitcoin, a purchase that comes after CEO Elon Musk has promoted the world’s No. 1 digital asset,along with other cryptos, in recent weeks.</p><p><blockquote>特斯拉公司周一表示,它以15亿美元的价格收购了比特币,此前首席执行官Elon Musk最近几周推广了全球第一大数字资产以及其他加密货币。</blockquote></p><p> Bitcoin’s price already on a stratospheric rise, garnered an additional fillip from the announcement, with a single bitcoin changing hands on Monday at $42,709, up over 9%. Prices touched a record peak near $45,000.</p><p><blockquote>比特币的价格已经大幅上涨,这一消息进一步刺激了比特币的价格,周一一只比特币易手,价格为42,709美元,涨幅超过9%。价格创下近45,000美元的历史新高。</blockquote></p><p> But one of the key questions swirling around the decision by the manufacturer of electric vehicles is whether the move, including the decision to eventually allow for the sale of its products to take place in bitcoins, is a prudent use of capital. It’s a question that’s particularly important given the wild swings that both shares of Tesla and bitcoin are prone to, even if those assets have both been on a nearly uninterrupted ride higher.</p><p><blockquote>但围绕这家电动汽车制造商决定的一个关键问题是,此举(包括最终允许以比特币销售其产品的决定)是否是对资本的审慎使用。考虑到特斯拉和比特币的股价都容易出现剧烈波动,这个问题尤为重要,即使这些资产都几乎不间断地走高。</blockquote></p><p> “I think this is awful strategy on many, many levels,” Christopher Schwarz, associate professor of finance and faculty director of the Center for Investment and Wealth Management at the University of California at Irvine in emailed comments.</p><p><blockquote>加州大学欧文分校金融学副教授兼投资与财富管理中心主任克里斯托弗·施瓦茨(Christopher Schwarz)在电子邮件评论中表示:“我认为这在很多很多层面上都是糟糕的策略。”</blockquote></p><p> “In essence, this is like creating [currency] risk since none of Tesla’s suppliers are paid in bitcoin,” Schwarz told MarketWatch.</p><p><blockquote>施瓦茨告诉MarketWatch:“从本质上讲,这就像制造[货币]风险,因为特斯拉的供应商都没有在比特币获得付款。”</blockquote></p><p> An email to the company for comment wasn’t immediately returned.</p><p><blockquote>发给该公司征求评论的电子邮件没有立即得到回复。</blockquote></p><p> Musk’s moves come as Tesla focuses on ramping up its production of electric vehicles, with its share price soaring but the auto maker still a relatively niche player despite its market value of over $800 billion.</p><p><blockquote>马斯克采取这些举措之际,特斯拉正专注于提高电动汽车产量,其股价飙升,但尽管市值超过8000亿美元,这家汽车制造商仍然是一个相对小众的参与者。</blockquote></p><p> Shares of Tesla are up an eye-popping 472% over the past 12 months, making it one of the few traditional stocks that have outperformed bitcoin’s gain of 337% over the same stretch,</p><p><blockquote>特斯拉的股价在过去12个月内上涨了令人瞠目结舌的472%,使其成为少数表现优于比特币同期337%涨幅的传统股票之一。</blockquote></p><p> The Wall Street Journal notedthat Tesla has taken advantage of its rabid investor base and its share price rally to bolster its cash position, bringing its cash holdings to around $19.4 billion at the end of last year, up from around $6.3 billion at the end of 2019.</p><p><blockquote>《华尔街日报》指出,特斯拉利用其狂热的投资者基础和股价上涨来增强其现金头寸,使其现金持有量从去年年底的约63亿美元增至去年年底的约194亿美元。2019年。</blockquote></p><p> That means that its current bitcoin allocation represents about 8% of its cash holdings.</p><p><blockquote>这意味着其目前的比特币配置约占其现金持有量的8%。</blockquote></p><p> “Tesla’s purchase of bitcoin is an unusual use of corporate cash, which is typically held in safer and less volatile assets, such as short-term fixed income securities to ensure liquidity and limit volatility,” Jerry Klein, managing director and partner at Treasury Partners, based in New York, told MarketWatch via email.</p><p><blockquote>Treasury董事总经理兼合伙人Jerry Klein表示:“特斯拉购买比特币是对企业现金的不同寻常的使用,这些现金通常持有在更安全、波动性更小的资产中,例如短期固定收益证券,以确保流动性并限制波动性。”总部位于纽约的合伙人通过电子邮件告诉MarketWatch。</blockquote></p><p> “While Tesla shareholders are reacting positively to the news, it remains to be seen how shareholders would react if a decline in bitcoin’s price negatively affects Tesla’s future earnings,” Klein said. “CFOs are willing to accept risk in their overall business, but not with the cash on their balance sheet. While bitcoin has been surging in recent months, it’s been very volatile over the past few years,” he said.</p><p><blockquote>Klein表示:“虽然特斯拉股东对这一消息反应积极,但如果比特币股价下跌对特斯拉未来盈利产生负面影响,股东将如何反应还有待观察。”“首席财务官愿意接受整体业务的风险,但不愿意接受资产负债表上的现金。虽然比特币近几个月来一直在飙升,但过去几年一直非常不稳定,”他说。</blockquote></p><p> To be sure, Tesla isn’t the first company, and isn’t likely to be the last, to apportion some share of holdings to bitcoin. Software company MicroStrategy Inc. last year acquired somce bitcoin and has been a champion of other corporations do so.</p><p><blockquote>可以肯定的是,特斯拉不是第一家,也不太可能是最后一家向比特币分配部分股份的公司。软件公司MicroStrategy Inc.去年收购了somce比特币公司,并一直是其他公司这样做的倡导者。</blockquote></p><p> MicroStrategy, which recently hosted a virtual conference on the utility of bitcoin for corporations, estimates that roughly $50 billion worth of bitcoin is owned by private and publicly traded companies, citing data from BitcoinTreasuries.org.</p><p><blockquote>MicroStrategy最近举办了一次关于企业比特币效用的虚拟会议,援引BitcoinTreasuries.org的数据估计,价值约500亿美元的比特币归私营和上市公司所有。</blockquote></p><p> MicroStrategy reported that about 8,200 people attended its weekend conference from nearly 7,000 companies.</p><p><blockquote>MicroStrategy报告称,来自近7,000家公司的约8,200人参加了其周末会议。</blockquote></p><p> Back to Tesla, Joe Osha, a Tesla analyst at JMP Securities told MarketWatch in a Monday afternoon phone interview that the electric-vehicle maker is often framed as having cash management troubles but believes that that is a bogus assesment.</p><p><blockquote>回到特斯拉,JMP证券(JMP Securities)特斯拉分析师乔·奥沙(Joe Osha)在周一下午的电话采访中告诉MarketWatch,这家电动汽车制造商经常被认为存在现金管理问题,但他认为这是一个虚假的评估。</blockquote></p><p> “I think that there’s this very stale narrative around Tesla’s liquidity that is no longer consistent around its balance sheet or its cash flow generation,” Osha said.</p><p><blockquote>Osha表示:“我认为,围绕特斯拉流动性的叙述非常陈旧,其资产负债表或现金流生成不再一致。”</blockquote></p><p> He makes the case that the companies investment in bitcoin is trivial against the scale of its ability to generate cash, and aligns with the company’s strategy of being a disrupter.</p><p><blockquote>他认为,相对于其产生现金的能力规模,该公司在比特币的投资微不足道,并且符合该公司成为颠覆者的战略。</blockquote></p><p> “I see it as another step in Tesla’s effort to reinvent how cars are sold and delivered to people,” said Osha, who is referring to Tesla’s direct-to-customer sales model. Osha estimates that Tesla generated about $1.868 billion in free cash flow in the December quarter.</p><p><blockquote>“我认为这是特斯拉重塑汽车销售和交付方式的又一步,”Osha说,他指的是特斯拉直接面向客户的销售模式。Osha估计,特斯拉在12月份季度产生了约18.68亿美元的自由现金流。</blockquote></p><p> Chester Spatt, professor at Carnegie Mellon University’s Tepper School of Business, told MarketWatch that bitcoin’s volatility makes it a tough asset to serve as a reserve asset for corporations or a medium of exchange.</p><p><blockquote>卡耐基梅隆大学泰珀商学院教授Chester Spatt告诉MarketWatch,比特币的波动性使其很难作为企业的储备资产或交易媒介。</blockquote></p><p></p><p> “You have volatility here that’s about 10 times that of the euro ,” the professor, who served as economist and director of the Securities and Exchange Commission’s Office of Economic Analysis from 2004-07 , said.</p><p><blockquote>“这里的波动性大约是欧元的10倍,”这位教授说,他曾在2004年至2007年期间担任经济学家兼美国证券交易委员会经济分析办公室主任。</blockquote></p><p> “That movement poses a lot of challenges for a corporation to hold [bitcoin] on their balance sheet but it also poses challenges from the point of the consumer,” he said.</p><p><blockquote>“这一运动给公司在资产负债表上保留[比特币]带来了很多挑战,但从消费者的角度来看,它也带来了挑战,”他说。</blockquote></p><p> Shares of Tesla closed up 1.3% on Monday.</p><p><blockquote>特斯拉股价周一收盘上涨1.3%。</blockquote></p><p> Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender, said that it may make some sense for corporations to put some of their “dry powder” in bitcoin, especially with interest rates near 0% and the U.S. dollar under pressure, as measured by the ICE U.S. Dollar Index,which is down nearly 8% over the past year, FactSet data show.</p><p><blockquote>加密货币贷款机构Nexo的联合创始人兼管理合伙人Antoni Trenchev表示,对于企业来说,将一些“干粉”放在比特币可能有一定意义,特别是在利率接近0%且美元面临压力的情况下FactSet数据显示,ICE美元指数在过去一年中下跌了近8%。</blockquote></p><p> “Corporations with ever increasing dry powder have a most obvious cash management option: partial BTC allocation,” Trenchev told MarketWatch.</p><p><blockquote>Trenchev告诉MarketWatch:“干粉不断增加的公司有一个最明显的现金管理选择:部分BTC分配。”</blockquote></p><p> “Sitting on piles of cash offers little to no return and gets constantly devalued by central banks’ excessive QE measures. Having a treasury policy that diversifies risk and return, as well as looking into ‘the fastest horse’, is not only a sound policy, but is also the one that most adheres to the key principle of maximizing shareholder value,” he said.</p><p><blockquote>“坐拥大量现金几乎没有回报,并且因央行过度的量化宽松措施而不断贬值。制定分散风险和回报的财政部政策,以及寻找‘最快的马’,不仅是一项合理的政策,但也是最坚持股东价值最大化关键原则的政策,”他说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.marketwatch.com/story/is-teslas-1-5-billion-bitcoin-buy-smart-corporate-finance-experts-weigh-in-11612817269?mod=home-page\">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":{"GBTC":"比特币ETF-Grayscale","TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/is-teslas-1-5-billion-bitcoin-buy-smart-corporate-finance-experts-weigh-in-11612817269?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1143370300","content_text":"MARKETWATCH PHOTO ILLUSTRATION/GETTY IMAGES|, ISTOCKPHOTO\nTesla Inc. on Monday said that it bought $1.5 billion in bitcoin, a purchase that comes after CEO Elon Musk has promoted the world’s No. 1 digital asset,along with other cryptos, in recent weeks.\nBitcoin’s price already on a stratospheric rise, garnered an additional fillip from the announcement, with a single bitcoin changing hands on Monday at $42,709, up over 9%. Prices touched a record peak near $45,000.\nBut one of the key questions swirling around the decision by the manufacturer of electric vehicles is whether the move, including the decision to eventually allow for the sale of its products to take place in bitcoins, is a prudent use of capital. It’s a question that’s particularly important given the wild swings that both shares of Tesla and bitcoin are prone to, even if those assets have both been on a nearly uninterrupted ride higher.\n“I think this is awful strategy on many, many levels,” Christopher Schwarz, associate professor of finance and faculty director of the Center for Investment and Wealth Management at the University of California at Irvine in emailed comments.\n“In essence, this is like creating [currency] risk since none of Tesla’s suppliers are paid in bitcoin,” Schwarz told MarketWatch.\nAn email to the company for comment wasn’t immediately returned.\nMusk’s moves come as Tesla focuses on ramping up its production of electric vehicles, with its share price soaring but the auto maker still a relatively niche player despite its market value of over $800 billion.\nShares of Tesla are up an eye-popping 472% over the past 12 months, making it one of the few traditional stocks that have outperformed bitcoin’s gain of 337% over the same stretch,\nThe Wall Street Journal notedthat Tesla has taken advantage of its rabid investor base and its share price rally to bolster its cash position, bringing its cash holdings to around $19.4 billion at the end of last year, up from around $6.3 billion at the end of 2019.\nThat means that its current bitcoin allocation represents about 8% of its cash holdings.\n“Tesla’s purchase of bitcoin is an unusual use of corporate cash, which is typically held in safer and less volatile assets, such as short-term fixed income securities to ensure liquidity and limit volatility,” Jerry Klein, managing director and partner at Treasury Partners, based in New York, told MarketWatch via email.\n“While Tesla shareholders are reacting positively to the news, it remains to be seen how shareholders would react if a decline in bitcoin’s price negatively affects Tesla’s future earnings,” Klein said. “CFOs are willing to accept risk in their overall business, but not with the cash on their balance sheet. While bitcoin has been surging in recent months, it’s been very volatile over the past few years,” he said.\nTo be sure, Tesla isn’t the first company, and isn’t likely to be the last, to apportion some share of holdings to bitcoin. Software company MicroStrategy Inc. last year acquired somce bitcoin and has been a champion of other corporations do so.\nMicroStrategy, which recently hosted a virtual conference on the utility of bitcoin for corporations, estimates that roughly $50 billion worth of bitcoin is owned by private and publicly traded companies, citing data from BitcoinTreasuries.org.\nMicroStrategy reported that about 8,200 people attended its weekend conference from nearly 7,000 companies.\nBack to Tesla, Joe Osha, a Tesla analyst at JMP Securities told MarketWatch in a Monday afternoon phone interview that the electric-vehicle maker is often framed as having cash management troubles but believes that that is a bogus assesment.\n“I think that there’s this very stale narrative around Tesla’s liquidity that is no longer consistent around its balance sheet or its cash flow generation,” Osha said.\nHe makes the case that the companies investment in bitcoin is trivial against the scale of its ability to generate cash, and aligns with the company’s strategy of being a disrupter.\n“I see it as another step in Tesla’s effort to reinvent how cars are sold and delivered to people,” said Osha, who is referring to Tesla’s direct-to-customer sales model. Osha estimates that Tesla generated about $1.868 billion in free cash flow in the December quarter.\nChester Spatt, professor at Carnegie Mellon University’s Tepper School of Business, told MarketWatch that bitcoin’s volatility makes it a tough asset to serve as a reserve asset for corporations or a medium of exchange.\n“You have volatility here that’s about 10 times that of the euro ,” the professor, who served as economist and director of the Securities and Exchange Commission’s Office of Economic Analysis from 2004-07 , said.\n“That movement poses a lot of challenges for a corporation to hold [bitcoin] on their balance sheet but it also poses challenges from the point of the consumer,” he said.\nShares of Tesla closed up 1.3% on Monday.\nAntoni Trenchev, co-founder and managing partner of Nexo, a crypto lender, said that it may make some sense for corporations to put some of their “dry powder” in bitcoin, especially with interest rates near 0% and the U.S. dollar under pressure, as measured by the ICE U.S. Dollar Index,which is down nearly 8% over the past year, FactSet data show.\n“Corporations with ever increasing dry powder have a most obvious cash management option: partial BTC allocation,” Trenchev told MarketWatch.\n“Sitting on piles of cash offers little to no return and gets constantly devalued by central banks’ excessive QE measures. Having a treasury policy that diversifies risk and return, as well as looking into ‘the fastest horse’, is not only a sound policy, but is also the one that most adheres to the key principle of maximizing shareholder value,” he said.","news_type":1,"symbols_score_info":{"BTCmain":0.9,"TSLA":0.9,"XBTmain":0.9,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":1941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383351290,"gmtCreate":1612841862110,"gmtModify":1703765725386,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555045194439065","idStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/383351290","repostId":"1142108333","repostType":4,"repost":{"id":"1142108333","kind":"news","pubTimestamp":1612841675,"share":"https://www.laohu8.com/m/news/1142108333?lang=zh_CN&edition=full","pubTime":"2021-02-09 11:34","market":"us","language":"en","title":"Earnings Grow for the First Time During the Pandemic. What That Means for Investors.<blockquote>疫情期间收入首次增长。这对投资者意味着什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142108333","media":"Barrons","summary":"Corporate earnings are increasing again, reflecting that the U.S. economy is more than on track for ","content":"<p>Corporate earnings are increasing again, reflecting that the U.S. economy is more than on track for recovery.</p><p><blockquote>企业盈利再次增长,反映出美国经济已经走上复苏的轨道。</blockquote></p><p> Companies representing roughly three quarters of theS&P 500’smarket capitalization have reported fourth-quarter earnings, according to Credit Suisse data. Combining actual results and analyst’s increases to their calls for profits of companies that haven’t yet reported, aggregate earnings per share for the index could rise 1.7% year over year, according to DataTrek.</p><p><blockquote>根据瑞士信贷的数据,约占标准普尔500指数市值四分之三的公司已经公布了第四季度收益。DataTrek的数据显示,结合实际业绩和分析师对尚未报告的公司利润评级的增长,该指数的每股收益总额可能同比增长1.7%。</blockquote></p><p> So far, the aggregate result is about 17% better than expected, Credit Suisse says. Sales are up about 1% and operating margins have expanded, creating the much improved bottom-line results.</p><p><blockquote>瑞士信贷表示,到目前为止,总体结果比预期高出约17%。销售额增长了约1%,营业利润率扩大,从而大大改善了盈利结果。</blockquote></p><p> Two points in the earnings results indicate an improving economy.</p><p><blockquote>盈利结果中的两点表明经济正在改善。</blockquote></p><p> Credit Suisse flagged the higher sales as a sign that consumers and businesses are spending more. Sales are up 4% year over year at makers of apparel and durable goods, according to the bank.</p><p><blockquote>瑞士信贷将销售额的增加视为消费者和企业支出增加的迹象。据该银行称,服装和耐用品制造商的销售额同比增长4%。</blockquote></p><p> Changes in profit margins tell a more important story, underscoring how a healthier economy is improving the earnings of the companies that were hurt most by the pandemic. A high portion of the costs of oil producers and manufacturers are fixed, so when revenues fall during a recession, profits fall harder than at other companies.</p><p><blockquote>利润率的变化讲述了一个更重要的故事,凸显了更健康的经济如何改善受疫情影响最严重的公司的盈利。石油生产商和制造商的大部分成本是固定的,因此当经济衰退期间收入下降时,利润下降得比其他公司更严重。</blockquote></p><p> Coming out of recessions, when revenues improve, profits rise significantly because costs are stable. Sales of materials producers are up 2% in aggregate, but earnings are up 17% because operating margins have increased by 14 percentage points.</p><p><blockquote>走出衰退后,当收入改善时,利润会大幅上升,因为成本稳定。材料生产商的销售额总体增长了2%,但盈利增长了17%,因为营业利润率增长了14个百分点。</blockquote></p><p> Stocks across many sectors have indeed risen, but earnings have not been the primary driver behind the breadth of the rally. TheInvesco S&P 500 Equal Weight ETF(RSP), which weights each holding equally and reflects the degree to which all sectors are participating in the rally, is up more than 4.5% year to date. That beats the gain in the popular S&P 500 index, which is weighted according to market capitalization—a sign the rally has been inclusive of many sectors. That is a reflection of a strengthening economy.</p><p><blockquote>许多行业的股票确实上涨,但盈利并不是涨势广泛背后的主要驱动力。景顺标普500等权重ETF(RSP)对每只持股进行同等权重,反映了所有行业参与反弹的程度,今年迄今已上涨超过4.5%。这超过了广受欢迎的标普500指数的涨幅,该指数根据市值加权——这表明涨势已涵盖许多行业。这反映了经济的强劲。</blockquote></p><p> Earlier in the profit-reporting season,most stocks were falling, with losses of 1% or more, even after companies reported strong earnings.Valuationswere high, reflecting expectations for strong results, so the actual results failed to provide much of a jolt.</p><p><blockquote>在财报季早些时候,即使公司公布了强劲的财报,大多数股票仍在下跌,跌幅仍达1%或更多。估值较高,反映了对强劲业绩的预期,因此实际业绩未能带来太大震动。</blockquote></p><p> In any case, strength in earnings won’t matter if the rollout of Covid-19 vaccines encounters big delays, because that would hurt the outlook for revenues. Stocks are trading more in response to positive vaccine news than on the fourth-quarter results.</p><p><blockquote>无论如何,如果Covid-19疫苗的推出遇到重大延误,盈利的强劲程度并不重要,因为这将损害收入前景。股市交易更多地是对积极的疫苗消息的反应,而不是对第四季度业绩的反应。</blockquote></p><p> The earnings still do matter, though. And if therollout of vaccinesdoesn’t run into new snags, EPS should rise quarter over quarter throughout the year.</p><p><blockquote>不过,收益仍然很重要。如果疫苗的推出没有遇到新的障碍,全年每股收益应该会逐季上升。</blockquote></p><p> Wall Street expects about $42 in aggregate per-share earnings for the S&P 500 for the fourth quarter of 2020, while estimates for the current quarter are a tick below that, according to DataTrek. If earnings come in at $45 a share per quarter for 2021, the year’s result should be $180, about 2.8% higher than current estimates.</p><p><blockquote>DataTrek的数据显示,华尔街预计标普500 2020年第四季度每股收益总额约为42美元,而当前季度的预期略低于这一数字。如果2021年每季度每股收益为45美元,则全年业绩应为180美元,比当前预期高出约2.8%。</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>Earnings Grow for the First Time During the Pandemic. What That Means for Investors.<blockquote>疫情期间收入首次增长。这对投资者意味着什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEarnings Grow for the First Time During the Pandemic. What That Means for Investors.<blockquote>疫情期间收入首次增长。这对投资者意味着什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-09 11:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Corporate earnings are increasing again, reflecting that the U.S. economy is more than on track for recovery.</p><p><blockquote>企业盈利再次增长,反映出美国经济已经走上复苏的轨道。</blockquote></p><p> Companies representing roughly three quarters of theS&P 500’smarket capitalization have reported fourth-quarter earnings, according to Credit Suisse data. Combining actual results and analyst’s increases to their calls for profits of companies that haven’t yet reported, aggregate earnings per share for the index could rise 1.7% year over year, according to DataTrek.</p><p><blockquote>根据瑞士信贷的数据,约占标准普尔500指数市值四分之三的公司已经公布了第四季度收益。DataTrek的数据显示,结合实际业绩和分析师对尚未报告的公司利润评级的增长,该指数的每股收益总额可能同比增长1.7%。</blockquote></p><p> So far, the aggregate result is about 17% better than expected, Credit Suisse says. Sales are up about 1% and operating margins have expanded, creating the much improved bottom-line results.</p><p><blockquote>瑞士信贷表示,到目前为止,总体结果比预期高出约17%。销售额增长了约1%,营业利润率扩大,从而大大改善了盈利结果。</blockquote></p><p> Two points in the earnings results indicate an improving economy.</p><p><blockquote>盈利结果中的两点表明经济正在改善。</blockquote></p><p> Credit Suisse flagged the higher sales as a sign that consumers and businesses are spending more. Sales are up 4% year over year at makers of apparel and durable goods, according to the bank.</p><p><blockquote>瑞士信贷将销售额的增加视为消费者和企业支出增加的迹象。据该银行称,服装和耐用品制造商的销售额同比增长4%。</blockquote></p><p> Changes in profit margins tell a more important story, underscoring how a healthier economy is improving the earnings of the companies that were hurt most by the pandemic. A high portion of the costs of oil producers and manufacturers are fixed, so when revenues fall during a recession, profits fall harder than at other companies.</p><p><blockquote>利润率的变化讲述了一个更重要的故事,凸显了更健康的经济如何改善受疫情影响最严重的公司的盈利。石油生产商和制造商的大部分成本是固定的,因此当经济衰退期间收入下降时,利润下降得比其他公司更严重。</blockquote></p><p> Coming out of recessions, when revenues improve, profits rise significantly because costs are stable. Sales of materials producers are up 2% in aggregate, but earnings are up 17% because operating margins have increased by 14 percentage points.</p><p><blockquote>走出衰退后,当收入改善时,利润会大幅上升,因为成本稳定。材料生产商的销售额总体增长了2%,但盈利增长了17%,因为营业利润率增长了14个百分点。</blockquote></p><p> Stocks across many sectors have indeed risen, but earnings have not been the primary driver behind the breadth of the rally. TheInvesco S&P 500 Equal Weight ETF(RSP), which weights each holding equally and reflects the degree to which all sectors are participating in the rally, is up more than 4.5% year to date. That beats the gain in the popular S&P 500 index, which is weighted according to market capitalization—a sign the rally has been inclusive of many sectors. That is a reflection of a strengthening economy.</p><p><blockquote>许多行业的股票确实上涨,但盈利并不是涨势广泛背后的主要驱动力。景顺标普500等权重ETF(RSP)对每只持股进行同等权重,反映了所有行业参与反弹的程度,今年迄今已上涨超过4.5%。这超过了广受欢迎的标普500指数的涨幅,该指数根据市值加权——这表明涨势已涵盖许多行业。这反映了经济的强劲。</blockquote></p><p> Earlier in the profit-reporting season,most stocks were falling, with losses of 1% or more, even after companies reported strong earnings.Valuationswere high, reflecting expectations for strong results, so the actual results failed to provide much of a jolt.</p><p><blockquote>在财报季早些时候,即使公司公布了强劲的财报,大多数股票仍在下跌,跌幅仍达1%或更多。估值较高,反映了对强劲业绩的预期,因此实际业绩未能带来太大震动。</blockquote></p><p> In any case, strength in earnings won’t matter if the rollout of Covid-19 vaccines encounters big delays, because that would hurt the outlook for revenues. Stocks are trading more in response to positive vaccine news than on the fourth-quarter results.</p><p><blockquote>无论如何,如果Covid-19疫苗的推出遇到重大延误,盈利的强劲程度并不重要,因为这将损害收入前景。股市交易更多地是对积极的疫苗消息的反应,而不是对第四季度业绩的反应。</blockquote></p><p> The earnings still do matter, though. And if therollout of vaccinesdoesn’t run into new snags, EPS should rise quarter over quarter throughout the year.</p><p><blockquote>不过,收益仍然很重要。如果疫苗的推出没有遇到新的障碍,全年每股收益应该会逐季上升。</blockquote></p><p> Wall Street expects about $42 in aggregate per-share earnings for the S&P 500 for the fourth quarter of 2020, while estimates for the current quarter are a tick below that, according to DataTrek. If earnings come in at $45 a share per quarter for 2021, the year’s result should be $180, about 2.8% higher than current estimates.</p><p><blockquote>DataTrek的数据显示,华尔街预计标普500 2020年第四季度每股收益总额约为42美元,而当前季度的预期略低于这一数字。如果2021年每季度每股收益为45美元,则全年业绩应为180美元,比当前预期高出约2.8%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.barrons.com/articles/earnings-are-growing-again-what-it-means-for-investors-51612817803?mod=hp_LEAD_1_B_2\">Barrons</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/earnings-are-growing-again-what-it-means-for-investors-51612817803?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142108333","content_text":"Corporate earnings are increasing again, reflecting that the U.S. economy is more than on track for recovery.\nCompanies representing roughly three quarters of theS&P 500’smarket capitalization have reported fourth-quarter earnings, according to Credit Suisse data. Combining actual results and analyst’s increases to their calls for profits of companies that haven’t yet reported, aggregate earnings per share for the index could rise 1.7% year over year, according to DataTrek.\nSo far, the aggregate result is about 17% better than expected, Credit Suisse says. Sales are up about 1% and operating margins have expanded, creating the much improved bottom-line results.\nTwo points in the earnings results indicate an improving economy.\nCredit Suisse flagged the higher sales as a sign that consumers and businesses are spending more. Sales are up 4% year over year at makers of apparel and durable goods, according to the bank.\nChanges in profit margins tell a more important story, underscoring how a healthier economy is improving the earnings of the companies that were hurt most by the pandemic. A high portion of the costs of oil producers and manufacturers are fixed, so when revenues fall during a recession, profits fall harder than at other companies.\nComing out of recessions, when revenues improve, profits rise significantly because costs are stable. Sales of materials producers are up 2% in aggregate, but earnings are up 17% because operating margins have increased by 14 percentage points.\nStocks across many sectors have indeed risen, but earnings have not been the primary driver behind the breadth of the rally. TheInvesco S&P 500 Equal Weight ETF(RSP), which weights each holding equally and reflects the degree to which all sectors are participating in the rally, is up more than 4.5% year to date. That beats the gain in the popular S&P 500 index, which is weighted according to market capitalization—a sign the rally has been inclusive of many sectors. That is a reflection of a strengthening economy.\nEarlier in the profit-reporting season,most stocks were falling, with losses of 1% or more, even after companies reported strong earnings.Valuationswere high, reflecting expectations for strong results, so the actual results failed to provide much of a jolt.\nIn any case, strength in earnings won’t matter if the rollout of Covid-19 vaccines encounters big delays, because that would hurt the outlook for revenues. Stocks are trading more in response to positive vaccine news than on the fourth-quarter results.\nThe earnings still do matter, though. And if therollout of vaccinesdoesn’t run into new snags, EPS should rise quarter over quarter throughout the year.\nWall Street expects about $42 in aggregate per-share earnings for the S&P 500 for the fourth quarter of 2020, while estimates for the current quarter are a tick below that, according to DataTrek. If earnings come in at $45 a share per quarter for 2021, the year’s result should be $180, about 2.8% higher than current estimates.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389883120,"gmtCreate":1612750384960,"gmtModify":1703764582338,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555045194439065","idStr":"3555045194439065"},"themes":[],"title":"","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/389883120","repostId":"1119785345","repostType":4,"isVote":1,"tweetType":1,"viewCount":3548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380700252,"gmtCreate":1612582338676,"gmtModify":1703763833484,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555045194439065","idStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice good job","listText":"Nice good job","text":"Nice good 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gkkg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/380324566","repostId":"1160248339","repostType":4,"repost":{"id":"1160248339","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1612516557,"share":"https://www.laohu8.com/m/news/1160248339?lang=zh_CN&edition=full","pubTime":"2021-02-05 17:15","market":"us","language":"zh","title":"盘前异动:极光涨35%,流利说暴涨100%","url":"https://stock-news.laohu8.com/highlight/detail?id=1160248339","media":"老虎资讯综合","summary":"2月5日(周五),美股三大指数期货在盘前交易时段集体上涨,纳指期货涨幅居前。腾讯音乐盘前涨近7%。据媒体周五援引知情人士报道,腾讯音乐已经敲定摩根大通、摩根士丹利为首的投行推进赴港上市事宜,计划在年内","content":"<p>2月5日(周五),美股三大指数期货在盘前交易时段集体上涨,纳指期货涨幅居前。</p><p><img src=\"https://static.tigerbbs.com/be626fa120cf1c8c04a36d61bf6a0cda\" tg-width=\"693\" tg-height=\"254\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/TME\">腾讯音乐</a>盘前涨近7%。据媒体周五援引知情人士报道,腾讯音乐已经敲定<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>、<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>为首的投行推进赴港上市事宜,计划在年内完成上市,募集目标为50亿美元。后续可能会有更多的银行加入承销团队,上市时间也有可能发生变化。</p><p><a href=\"https://laohu8.com/S/JG\">极光</a>盘前大涨35%,近日公司宣布与快手在广告商业化领域达成合作。</p><p><b>中概股<a href=\"https://laohu8.com/S/LAIX\">流利说</a>盘前暴涨超100%,昨日该股收涨33.3%。</b></p><p><img src=\"https://static.tigerbbs.com/bcf2eac6c5c359685562351f9cac1408\" tg-width=\"600\" tg-height=\"373\" referrerpolicy=\"no-referrer\"></p><p>散户概念股盘前走高,<a href=\"https://laohu8.com/S/GME\">游戏驿站</a>涨18%,<a href=\"https://laohu8.com/S/AMC\">AMC院线</a>涨13.5%,<a href=\"https://laohu8.com/S/KOSS\">高斯电子</a>涨6.3%,此前券商Robinhood已移除了对股票及期权头寸的临时限制。</p><p><a href=\"https://laohu8.com/S/JNJ\">强生</a>盘前涨1.92%,今日公司向美国食品药品监督管理局提交其新冠病毒候选疫苗紧急使用授权申请。</p><p><a href=\"https://laohu8.com/S/GILD\">吉利德科学</a>盘前涨2%,全年净利润远超市场预期,瑞德西韦销售额达19.38亿美元。</p><p><a href=\"https://laohu8.com/S/ATVI\">动视暴雪</a>盘前涨6.8%,第四季度净利润同比增加46%,月活跃用户数近4亿。</p><p><a href=\"https://laohu8.com/S/PINS\">Pinterest</a>盘前涨近10%,第四季度同比扭亏为盈,月活跃用户数同比增加11%。</p><p><a href=\"https://laohu8.com/S/SNAP\">Snap</a>盘前跌6.3%,第四季度亏损状况差于市场预期。</p><p><a href=\"https://laohu8.com/S/U\">Unity</a>盘前跌8.5%,全年亏损状况差于预期,公司在财报中警告<a href=\"https://laohu8.com/S/AAPL\">苹果</a>IDFA政策的变化将影响手机游戏开发商获得新客户的方式。</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>盘前异动:极光涨35%,流利说暴涨100%</title>\n<style 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src=\"https://static.tigerbbs.com/be626fa120cf1c8c04a36d61bf6a0cda\" tg-width=\"693\" tg-height=\"254\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/TME\">腾讯音乐</a>盘前涨近7%。据媒体周五援引知情人士报道,腾讯音乐已经敲定<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>、<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>为首的投行推进赴港上市事宜,计划在年内完成上市,募集目标为50亿美元。后续可能会有更多的银行加入承销团队,上市时间也有可能发生变化。</p><p><a href=\"https://laohu8.com/S/JG\">极光</a>盘前大涨35%,近日公司宣布与快手在广告商业化领域达成合作。</p><p><b>中概股<a href=\"https://laohu8.com/S/LAIX\">流利说</a>盘前暴涨超100%,昨日该股收涨33.3%。</b></p><p><img src=\"https://static.tigerbbs.com/bcf2eac6c5c359685562351f9cac1408\" tg-width=\"600\" tg-height=\"373\" referrerpolicy=\"no-referrer\"></p><p>散户概念股盘前走高,<a href=\"https://laohu8.com/S/GME\">游戏驿站</a>涨18%,<a href=\"https://laohu8.com/S/AMC\">AMC院线</a>涨13.5%,<a href=\"https://laohu8.com/S/KOSS\">高斯电子</a>涨6.3%,此前券商Robinhood已移除了对股票及期权头寸的临时限制。</p><p><a href=\"https://laohu8.com/S/JNJ\">强生</a>盘前涨1.92%,今日公司向美国食品药品监督管理局提交其新冠病毒候选疫苗紧急使用授权申请。</p><p><a href=\"https://laohu8.com/S/GILD\">吉利德科学</a>盘前涨2%,全年净利润远超市场预期,瑞德西韦销售额达19.38亿美元。</p><p><a href=\"https://laohu8.com/S/ATVI\">动视暴雪</a>盘前涨6.8%,第四季度净利润同比增加46%,月活跃用户数近4亿。</p><p><a href=\"https://laohu8.com/S/PINS\">Pinterest</a>盘前涨近10%,第四季度同比扭亏为盈,月活跃用户数同比增加11%。</p><p><a href=\"https://laohu8.com/S/SNAP\">Snap</a>盘前跌6.3%,第四季度亏损状况差于市场预期。</p><p><a href=\"https://laohu8.com/S/U\">Unity</a>盘前跌8.5%,全年亏损状况差于预期,公司在财报中警告<a href=\"https://laohu8.com/S/AAPL\">苹果</a>IDFA政策的变化将影响手机游戏开发商获得新客户的方式。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a82005fdd5a20870413111b3adc1a547","relate_stocks":{".DJI":"道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160248339","content_text":"2月5日(周五),美股三大指数期货在盘前交易时段集体上涨,纳指期货涨幅居前。腾讯音乐盘前涨近7%。据媒体周五援引知情人士报道,腾讯音乐已经敲定摩根大通、摩根士丹利为首的投行推进赴港上市事宜,计划在年内完成上市,募集目标为50亿美元。后续可能会有更多的银行加入承销团队,上市时间也有可能发生变化。极光盘前大涨35%,近日公司宣布与快手在广告商业化领域达成合作。中概股流利说盘前暴涨超100%,昨日该股收涨33.3%。散户概念股盘前走高,游戏驿站涨18%,AMC院线涨13.5%,高斯电子涨6.3%,此前券商Robinhood已移除了对股票及期权头寸的临时限制。强生盘前涨1.92%,今日公司向美国食品药品监督管理局提交其新冠病毒候选疫苗紧急使用授权申请。吉利德科学盘前涨2%,全年净利润远超市场预期,瑞德西韦销售额达19.38亿美元。动视暴雪盘前涨6.8%,第四季度净利润同比增加46%,月活跃用户数近4亿。Pinterest盘前涨近10%,第四季度同比扭亏为盈,月活跃用户数同比增加11%。Snap盘前跌6.3%,第四季度亏损状况差于市场预期。Unity盘前跌8.5%,全年亏损状况差于预期,公司在财报中警告苹果IDFA政策的变化将影响手机游戏开发商获得新客户的方式。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314150763,"gmtCreate":1612322720252,"gmtModify":1703760347398,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555045194439065","idStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice stock room to grow","listText":"Nice stock room to grow","text":"Nice stock room to 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10:50","market":"us","language":"en","title":"U.S. senators urge White House action on auto chip shortage<blockquote>美国参议员敦促白宫对汽车芯片短缺采取行动</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137654867","media":"reuters","summary":"WASHINGTON (Reuters) -A group of 15 U.S. senators on Tuesday including Majority Leader Chuck Schumer","content":"<p>WASHINGTON (Reuters) -A group of 15 U.S. senators on Tuesday including Majority Leader Chuck Schumer and Republican John Cornyn urged the White House to work with Congress to address the global semiconductor shortage that is hampering auto manufacturing.</p><p><blockquote>华盛顿(路透社)-周二,包括多数党领袖查克·舒默和共和党人约翰·科宁在内的15名美国参议员敦促白宫与国会合作,解决阻碍汽车制造的全球半导体短缺问题。</blockquote></p><p> The senators, from key auto states like Michigan, Ohio, Tennessee, Wisconsin, Illinois, Indiana and South Carolina, in a letter to the White House warned the “shortage threatens our post-pandemic economic recovery.”</p><p><blockquote>来自密歇根州、俄亥俄州、田纳西州、威斯康星州、伊利诺伊州、印第安纳州和南卡罗来纳州等主要汽车州的参议员在给白宫的一封信中警告说,“短缺威胁着我们大流行后的经济复苏”。</blockquote></p><p> Automakers around the world are shutting assembly lines because of problems in the delivery of semiconductors, which have been exacerbated in some cases by the former Trump administration’s actions against Chinese chip factories.</p><p><blockquote>由于半导体交付问题,世界各地的汽车制造商都在关闭装配线,而前特朗普政府对中国芯片工厂的行动在某些情况下加剧了这一问题。</blockquote></p><p> The shortage has impacted Volkswagen, Ford Motor Co, Subaru Corp, Toyota Motor Corp, Nissan Motor Co Ltd, Fiat Chrysler Automobiles and other car makers.</p><p><blockquote>短缺已经影响到大众汽车、福特汽车公司、斯巴鲁公司、丰田汽车公司、日产汽车有限公司、菲亚特克莱斯勒汽车公司和其他汽车制造商。</blockquote></p><p> “We believe that the incoming administration can continue to play a helpful role in alleviating the worst impacts of the shortage on American workers,” the senators wrote.</p><p><blockquote>参议员们写道:“我们相信,即将上任的政府可以继续在缓解短缺对美国工人的最严重影响方面发挥有益作用。”</blockquote></p><p> A U.S. spokeswoman for Nissan said Tuesday the automaker made some short-term production adjustments because of the shortage “starting with three non-production days on the truck line at our Canton, Mississippi, facility.”</p><p><blockquote>日产美国发言人周二表示,由于短缺,该汽车制造商做出了一些短期生产调整,“从我们密西西比州坎顿工厂的卡车生产线三天非生产开始”。</blockquote></p><p> The senators, including auto caucus chairs Democrat Sherrod Brown and Republican Rob Portman, urged the White House “to support efforts to secure the necessary funding to swiftly implement the semiconductor-related provisions in the most recent National Defense Authorization Act, which would boost the production of semiconductor manufacturing and incent the domestic production of semiconductors in the future.”</p><p><blockquote>包括汽车核心小组主席民主党人谢罗德·布朗和共和党人罗布·波特曼在内的参议员敦促白宫“支持努力获得必要的资金,以迅速实施最新国防授权法案中与半导体相关的条款,这将提高半导体制造的产量,并激励未来国内半导体的生产。”</blockquote></p><p> Matt Blunt, who heads the American Automotive Policy Council representing U.S. automakers, praised the senators “who recognize it is a significant challenge for the auto sector.”</p><p><blockquote>代表美国汽车制造商的美国汽车政策委员会主席马特·布朗特赞扬参议员们“认识到这对汽车行业来说是一个重大挑战”。</blockquote></p><p> The White House did not immediately comment.</p><p><blockquote>白宫没有立即置评。</blockquote></p><p> Automakers around the world are adjusting assembly lines caused by the shortages and have cut some production, caused by manufacturing delays that some semiconductor makers blame on a faster-than expected recovery from the coronavirus pandemic.</p><p><blockquote>由于短缺,世界各地的汽车制造商正在调整装配线,并削减了部分产量,这是由制造延迟造成的,一些半导体制造商将其归咎于从冠状病毒大流行中恢复的速度快于预期。</blockquote></p><p> In 2019, automotive groups accounted for roughly a tenth of the $429 billion semiconductor market, according to McKinsey.</p><p><blockquote>根据麦肯锡的数据,2019年,汽车集团约占4290亿美元半导体市场的十分之一。</blockquote></p><p></p>","source":"ltzww","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. senators urge White House action on auto chip shortage<blockquote>美国参议员敦促白宫对汽车芯片短缺采取行动</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. senators urge White House action on auto chip shortage<blockquote>美国参议员敦促白宫对汽车芯片短缺采取行动</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">reuters</strong><span class=\"h-time small\">2021-02-03 10:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>WASHINGTON (Reuters) -A group of 15 U.S. senators on Tuesday including Majority Leader Chuck Schumer and Republican John Cornyn urged the White House to work with Congress to address the global semiconductor shortage that is hampering auto manufacturing.</p><p><blockquote>华盛顿(路透社)-周二,包括多数党领袖查克·舒默和共和党人约翰·科宁在内的15名美国参议员敦促白宫与国会合作,解决阻碍汽车制造的全球半导体短缺问题。</blockquote></p><p> The senators, from key auto states like Michigan, Ohio, Tennessee, Wisconsin, Illinois, Indiana and South Carolina, in a letter to the White House warned the “shortage threatens our post-pandemic economic recovery.”</p><p><blockquote>来自密歇根州、俄亥俄州、田纳西州、威斯康星州、伊利诺伊州、印第安纳州和南卡罗来纳州等主要汽车州的参议员在给白宫的一封信中警告说,“短缺威胁着我们大流行后的经济复苏”。</blockquote></p><p> Automakers around the world are shutting assembly lines because of problems in the delivery of semiconductors, which have been exacerbated in some cases by the former Trump administration’s actions against Chinese chip factories.</p><p><blockquote>由于半导体交付问题,世界各地的汽车制造商都在关闭装配线,而前特朗普政府对中国芯片工厂的行动在某些情况下加剧了这一问题。</blockquote></p><p> The shortage has impacted Volkswagen, Ford Motor Co, Subaru Corp, Toyota Motor Corp, Nissan Motor Co Ltd, Fiat Chrysler Automobiles and other car makers.</p><p><blockquote>短缺已经影响到大众汽车、福特汽车公司、斯巴鲁公司、丰田汽车公司、日产汽车有限公司、菲亚特克莱斯勒汽车公司和其他汽车制造商。</blockquote></p><p> “We believe that the incoming administration can continue to play a helpful role in alleviating the worst impacts of the shortage on American workers,” the senators wrote.</p><p><blockquote>参议员们写道:“我们相信,即将上任的政府可以继续在缓解短缺对美国工人的最严重影响方面发挥有益作用。”</blockquote></p><p> A U.S. spokeswoman for Nissan said Tuesday the automaker made some short-term production adjustments because of the shortage “starting with three non-production days on the truck line at our Canton, Mississippi, facility.”</p><p><blockquote>日产美国发言人周二表示,由于短缺,该汽车制造商做出了一些短期生产调整,“从我们密西西比州坎顿工厂的卡车生产线三天非生产开始”。</blockquote></p><p> The senators, including auto caucus chairs Democrat Sherrod Brown and Republican Rob Portman, urged the White House “to support efforts to secure the necessary funding to swiftly implement the semiconductor-related provisions in the most recent National Defense Authorization Act, which would boost the production of semiconductor manufacturing and incent the domestic production of semiconductors in the future.”</p><p><blockquote>包括汽车核心小组主席民主党人谢罗德·布朗和共和党人罗布·波特曼在内的参议员敦促白宫“支持努力获得必要的资金,以迅速实施最新国防授权法案中与半导体相关的条款,这将提高半导体制造的产量,并激励未来国内半导体的生产。”</blockquote></p><p> Matt Blunt, who heads the American Automotive Policy Council representing U.S. automakers, praised the senators “who recognize it is a significant challenge for the auto sector.”</p><p><blockquote>代表美国汽车制造商的美国汽车政策委员会主席马特·布朗特赞扬参议员们“认识到这对汽车行业来说是一个重大挑战”。</blockquote></p><p> The White House did not immediately comment.</p><p><blockquote>白宫没有立即置评。</blockquote></p><p> Automakers around the world are adjusting assembly lines caused by the shortages and have cut some production, caused by manufacturing delays that some semiconductor makers blame on a faster-than expected recovery from the coronavirus pandemic.</p><p><blockquote>由于短缺,世界各地的汽车制造商正在调整装配线,并削减了部分产量,这是由制造延迟造成的,一些半导体制造商将其归咎于从冠状病毒大流行中恢复的速度快于预期。</blockquote></p><p> In 2019, automotive groups accounted for roughly a tenth of the $429 billion semiconductor market, according to McKinsey.</p><p><blockquote>根据麦肯锡的数据,2019年,汽车集团约占4290亿美元半导体市场的十分之一。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.reuters.com/article/us-usa-autos-chips/u-s-senators-urge-white-house-action-on-auto-chip-shortage-idUSKBN2A2353?il=0\">reuters</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"F":"福特汽车"},"source_url":"https://www.reuters.com/article/us-usa-autos-chips/u-s-senators-urge-white-house-action-on-auto-chip-shortage-idUSKBN2A2353?il=0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137654867","content_text":"WASHINGTON (Reuters) -A group of 15 U.S. senators on Tuesday including Majority Leader Chuck Schumer and Republican John Cornyn urged the White House to work with Congress to address the global semiconductor shortage that is hampering auto manufacturing.\nThe senators, from key auto states like Michigan, Ohio, Tennessee, Wisconsin, Illinois, Indiana and South Carolina, in a letter to the White House warned the “shortage threatens our post-pandemic economic recovery.”\nAutomakers around the world are shutting assembly lines because of problems in the delivery of semiconductors, which have been exacerbated in some cases by the former Trump administration’s actions against Chinese chip factories.\nThe shortage has impacted Volkswagen, Ford Motor Co, Subaru Corp, Toyota Motor Corp, Nissan Motor Co Ltd, Fiat Chrysler Automobiles and other car makers.\n“We believe that the incoming administration can continue to play a helpful role in alleviating the worst impacts of the shortage on American workers,” the senators wrote.\nA U.S. spokeswoman for Nissan said Tuesday the automaker made some short-term production adjustments because of the shortage “starting with three non-production days on the truck line at our Canton, Mississippi, facility.”\nThe senators, including auto caucus chairs Democrat Sherrod Brown and Republican Rob Portman, urged the White House “to support efforts to secure the necessary funding to swiftly implement the semiconductor-related provisions in the most recent National Defense Authorization Act, which would boost the production of semiconductor manufacturing and incent the domestic production of semiconductors in the future.”\nMatt Blunt, who heads the American Automotive Policy Council representing U.S. automakers, praised the senators “who recognize it is a significant challenge for the auto sector.”\nThe White House did not immediately comment.\nAutomakers around the world are adjusting assembly lines caused by the shortages and have cut some production, caused by manufacturing delays that some semiconductor makers blame on a faster-than expected recovery from the coronavirus pandemic.\nIn 2019, automotive groups accounted for roughly a tenth of the $429 billion semiconductor market, according to 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","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/389883120","repostId":"1119785345","repostType":4,"isVote":1,"tweetType":1,"viewCount":3548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314150111,"gmtCreate":1612322655933,"gmtModify":1703760346025,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555045194439065","authorIdStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/314150111","repostId":"1137654867","repostType":4,"repost":{"id":"1137654867","kind":"news","pubTimestamp":1612320630,"share":"https://www.laohu8.com/m/news/1137654867?lang=zh_CN&edition=full","pubTime":"2021-02-03 10:50","market":"us","language":"en","title":"U.S. senators urge White House action on auto chip shortage<blockquote>美国参议员敦促白宫对汽车芯片短缺采取行动</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137654867","media":"reuters","summary":"WASHINGTON (Reuters) -A group of 15 U.S. senators on Tuesday including Majority Leader Chuck Schumer","content":"<p>WASHINGTON (Reuters) -A group of 15 U.S. senators on Tuesday including Majority Leader Chuck Schumer and Republican John Cornyn urged the White House to work with Congress to address the global semiconductor shortage that is hampering auto manufacturing.</p><p><blockquote>华盛顿(路透社)-周二,包括多数党领袖查克·舒默和共和党人约翰·科宁在内的15名美国参议员敦促白宫与国会合作,解决阻碍汽车制造的全球半导体短缺问题。</blockquote></p><p> The senators, from key auto states like Michigan, Ohio, Tennessee, Wisconsin, Illinois, Indiana and South Carolina, in a letter to the White House warned the “shortage threatens our post-pandemic economic recovery.”</p><p><blockquote>来自密歇根州、俄亥俄州、田纳西州、威斯康星州、伊利诺伊州、印第安纳州和南卡罗来纳州等主要汽车州的参议员在给白宫的一封信中警告说,“短缺威胁着我们大流行后的经济复苏”。</blockquote></p><p> Automakers around the world are shutting assembly lines because of problems in the delivery of semiconductors, which have been exacerbated in some cases by the former Trump administration’s actions against Chinese chip factories.</p><p><blockquote>由于半导体交付问题,世界各地的汽车制造商都在关闭装配线,而前特朗普政府对中国芯片工厂的行动在某些情况下加剧了这一问题。</blockquote></p><p> The shortage has impacted Volkswagen, Ford Motor Co, Subaru Corp, Toyota Motor Corp, Nissan Motor Co Ltd, Fiat Chrysler Automobiles and other car makers.</p><p><blockquote>短缺已经影响到大众汽车、福特汽车公司、斯巴鲁公司、丰田汽车公司、日产汽车有限公司、菲亚特克莱斯勒汽车公司和其他汽车制造商。</blockquote></p><p> “We believe that the incoming administration can continue to play a helpful role in alleviating the worst impacts of the shortage on American workers,” the senators wrote.</p><p><blockquote>参议员们写道:“我们相信,即将上任的政府可以继续在缓解短缺对美国工人的最严重影响方面发挥有益作用。”</blockquote></p><p> A U.S. spokeswoman for Nissan said Tuesday the automaker made some short-term production adjustments because of the shortage “starting with three non-production days on the truck line at our Canton, Mississippi, facility.”</p><p><blockquote>日产美国发言人周二表示,由于短缺,该汽车制造商做出了一些短期生产调整,“从我们密西西比州坎顿工厂的卡车生产线三天非生产开始”。</blockquote></p><p> The senators, including auto caucus chairs Democrat Sherrod Brown and Republican Rob Portman, urged the White House “to support efforts to secure the necessary funding to swiftly implement the semiconductor-related provisions in the most recent National Defense Authorization Act, which would boost the production of semiconductor manufacturing and incent the domestic production of semiconductors in the future.”</p><p><blockquote>包括汽车核心小组主席民主党人谢罗德·布朗和共和党人罗布·波特曼在内的参议员敦促白宫“支持努力获得必要的资金,以迅速实施最新国防授权法案中与半导体相关的条款,这将提高半导体制造的产量,并激励未来国内半导体的生产。”</blockquote></p><p> Matt Blunt, who heads the American Automotive Policy Council representing U.S. automakers, praised the senators “who recognize it is a significant challenge for the auto sector.”</p><p><blockquote>代表美国汽车制造商的美国汽车政策委员会主席马特·布朗特赞扬参议员们“认识到这对汽车行业来说是一个重大挑战”。</blockquote></p><p> The White House did not immediately comment.</p><p><blockquote>白宫没有立即置评。</blockquote></p><p> Automakers around the world are adjusting assembly lines caused by the shortages and have cut some production, caused by manufacturing delays that some semiconductor makers blame on a faster-than expected recovery from the coronavirus pandemic.</p><p><blockquote>由于短缺,世界各地的汽车制造商正在调整装配线,并削减了部分产量,这是由制造延迟造成的,一些半导体制造商将其归咎于从冠状病毒大流行中恢复的速度快于预期。</blockquote></p><p> In 2019, automotive groups accounted for roughly a tenth of the $429 billion semiconductor market, according to McKinsey.</p><p><blockquote>根据麦肯锡的数据,2019年,汽车集团约占4290亿美元半导体市场的十分之一。</blockquote></p><p></p>","source":"ltzww","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. senators urge White House action on auto chip shortage<blockquote>美国参议员敦促白宫对汽车芯片短缺采取行动</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. senators urge White House action on auto chip shortage<blockquote>美国参议员敦促白宫对汽车芯片短缺采取行动</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">reuters</strong><span class=\"h-time small\">2021-02-03 10:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>WASHINGTON (Reuters) -A group of 15 U.S. senators on Tuesday including Majority Leader Chuck Schumer and Republican John Cornyn urged the White House to work with Congress to address the global semiconductor shortage that is hampering auto manufacturing.</p><p><blockquote>华盛顿(路透社)-周二,包括多数党领袖查克·舒默和共和党人约翰·科宁在内的15名美国参议员敦促白宫与国会合作,解决阻碍汽车制造的全球半导体短缺问题。</blockquote></p><p> The senators, from key auto states like Michigan, Ohio, Tennessee, Wisconsin, Illinois, Indiana and South Carolina, in a letter to the White House warned the “shortage threatens our post-pandemic economic recovery.”</p><p><blockquote>来自密歇根州、俄亥俄州、田纳西州、威斯康星州、伊利诺伊州、印第安纳州和南卡罗来纳州等主要汽车州的参议员在给白宫的一封信中警告说,“短缺威胁着我们大流行后的经济复苏”。</blockquote></p><p> Automakers around the world are shutting assembly lines because of problems in the delivery of semiconductors, which have been exacerbated in some cases by the former Trump administration’s actions against Chinese chip factories.</p><p><blockquote>由于半导体交付问题,世界各地的汽车制造商都在关闭装配线,而前特朗普政府对中国芯片工厂的行动在某些情况下加剧了这一问题。</blockquote></p><p> The shortage has impacted Volkswagen, Ford Motor Co, Subaru Corp, Toyota Motor Corp, Nissan Motor Co Ltd, Fiat Chrysler Automobiles and other car makers.</p><p><blockquote>短缺已经影响到大众汽车、福特汽车公司、斯巴鲁公司、丰田汽车公司、日产汽车有限公司、菲亚特克莱斯勒汽车公司和其他汽车制造商。</blockquote></p><p> “We believe that the incoming administration can continue to play a helpful role in alleviating the worst impacts of the shortage on American workers,” the senators wrote.</p><p><blockquote>参议员们写道:“我们相信,即将上任的政府可以继续在缓解短缺对美国工人的最严重影响方面发挥有益作用。”</blockquote></p><p> A U.S. spokeswoman for Nissan said Tuesday the automaker made some short-term production adjustments because of the shortage “starting with three non-production days on the truck line at our Canton, Mississippi, facility.”</p><p><blockquote>日产美国发言人周二表示,由于短缺,该汽车制造商做出了一些短期生产调整,“从我们密西西比州坎顿工厂的卡车生产线三天非生产开始”。</blockquote></p><p> The senators, including auto caucus chairs Democrat Sherrod Brown and Republican Rob Portman, urged the White House “to support efforts to secure the necessary funding to swiftly implement the semiconductor-related provisions in the most recent National Defense Authorization Act, which would boost the production of semiconductor manufacturing and incent the domestic production of semiconductors in the future.”</p><p><blockquote>包括汽车核心小组主席民主党人谢罗德·布朗和共和党人罗布·波特曼在内的参议员敦促白宫“支持努力获得必要的资金,以迅速实施最新国防授权法案中与半导体相关的条款,这将提高半导体制造的产量,并激励未来国内半导体的生产。”</blockquote></p><p> Matt Blunt, who heads the American Automotive Policy Council representing U.S. automakers, praised the senators “who recognize it is a significant challenge for the auto sector.”</p><p><blockquote>代表美国汽车制造商的美国汽车政策委员会主席马特·布朗特赞扬参议员们“认识到这对汽车行业来说是一个重大挑战”。</blockquote></p><p> The White House did not immediately comment.</p><p><blockquote>白宫没有立即置评。</blockquote></p><p> Automakers around the world are adjusting assembly lines caused by the shortages and have cut some production, caused by manufacturing delays that some semiconductor makers blame on a faster-than expected recovery from the coronavirus pandemic.</p><p><blockquote>由于短缺,世界各地的汽车制造商正在调整装配线,并削减了部分产量,这是由制造延迟造成的,一些半导体制造商将其归咎于从冠状病毒大流行中恢复的速度快于预期。</blockquote></p><p> In 2019, automotive groups accounted for roughly a tenth of the $429 billion semiconductor market, according to McKinsey.</p><p><blockquote>根据麦肯锡的数据,2019年,汽车集团约占4290亿美元半导体市场的十分之一。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.reuters.com/article/us-usa-autos-chips/u-s-senators-urge-white-house-action-on-auto-chip-shortage-idUSKBN2A2353?il=0\">reuters</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"F":"福特汽车"},"source_url":"https://www.reuters.com/article/us-usa-autos-chips/u-s-senators-urge-white-house-action-on-auto-chip-shortage-idUSKBN2A2353?il=0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137654867","content_text":"WASHINGTON (Reuters) -A group of 15 U.S. senators on Tuesday including Majority Leader Chuck Schumer and Republican John Cornyn urged the White House to work with Congress to address the global semiconductor shortage that is hampering auto manufacturing.\nThe senators, from key auto states like Michigan, Ohio, Tennessee, Wisconsin, Illinois, Indiana and South Carolina, in a letter to the White House warned the “shortage threatens our post-pandemic economic recovery.”\nAutomakers around the world are shutting assembly lines because of problems in the delivery of semiconductors, which have been exacerbated in some cases by the former Trump administration’s actions against Chinese chip factories.\nThe shortage has impacted Volkswagen, Ford Motor Co, Subaru Corp, Toyota Motor Corp, Nissan Motor Co Ltd, Fiat Chrysler Automobiles and other car makers.\n“We believe that the incoming administration can continue to play a helpful role in alleviating the worst impacts of the shortage on American workers,” the senators wrote.\nA U.S. spokeswoman for Nissan said Tuesday the automaker made some short-term production adjustments because of the shortage “starting with three non-production days on the truck line at our Canton, Mississippi, facility.”\nThe senators, including auto caucus chairs Democrat Sherrod Brown and Republican Rob Portman, urged the White House “to support efforts to secure the necessary funding to swiftly implement the semiconductor-related provisions in the most recent National Defense Authorization Act, which would boost the production of semiconductor manufacturing and incent the domestic production of semiconductors in the future.”\nMatt Blunt, who heads the American Automotive Policy Council representing U.S. automakers, praised the senators “who recognize it is a significant challenge for the auto sector.”\nThe White House did not immediately comment.\nAutomakers around the world are adjusting assembly lines caused by the shortages and have cut some production, caused by manufacturing delays that some semiconductor makers blame on a faster-than expected recovery from the coronavirus pandemic.\nIn 2019, automotive groups accounted for roughly a tenth of the $429 billion semiconductor market, according to McKinsey.","news_type":1,"symbols_score_info":{"F":0.9}},"isVote":1,"tweetType":1,"viewCount":1818,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380324566,"gmtCreate":1612517420155,"gmtModify":1703762973428,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555045194439065","authorIdStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice cjckckf cjckckfkdo ckcockfmfk gkgkgk gkkg","listText":"Nice cjckckf cjckckfkdo ckcockfmfk gkgkgk gkkg","text":"Nice cjckckf cjckckfkdo ckcockfmfk gkgkgk gkkg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/380324566","repostId":"1160248339","repostType":4,"isVote":1,"tweetType":1,"viewCount":2103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383351406,"gmtCreate":1612841943305,"gmtModify":1703765725728,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555045194439065","authorIdStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/383351406","repostId":"1143370300","repostType":4,"repost":{"id":"1143370300","kind":"news","pubTimestamp":1612839933,"share":"https://www.laohu8.com/m/news/1143370300?lang=zh_CN&edition=full","pubTime":"2021-02-09 11:05","market":"fut","language":"en","title":"Is Tesla’s $1.5 billion bitcoin buy smart corporate finance? Experts weigh in<blockquote>特斯拉斥资15亿美元收购比特币是明智的企业融资吗?专家发表意见</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143370300","media":"MarketWatch","summary":"Tesla Inc. on Monday said that it bought $1.5 billion in bitcoin, a purchase that comes after CEO Elon Musk has promoted the world’s No. 1 digital asset,along with other cryptos, in recent weeks.Bitcoin’s price already on a stratospheric rise, garnered an additional fillip from the announcement, with a single bitcoin changing hands on Monday at $42,709, up over 9%. Prices touched a record peak near $45,000.But one of the key questions swirling around the decision by the manufacturer of electric ","content":"<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4d612c15beca2f2d4d56a304cff74080\" tg-width=\"1260\" tg-height=\"876\"><span>MARKETWATCH PHOTO ILLUSTRATION/GETTY IMAGES|, ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/GETTY IMAGES|,ISTOCKPHOTO</span></p></blockquote></p><p> Tesla Inc. on Monday said that it bought $1.5 billion in bitcoin, a purchase that comes after CEO Elon Musk has promoted the world’s No. 1 digital asset,along with other cryptos, in recent weeks.</p><p><blockquote>特斯拉公司周一表示,它以15亿美元的价格收购了比特币,此前首席执行官Elon Musk最近几周推广了全球第一大数字资产以及其他加密货币。</blockquote></p><p> Bitcoin’s price already on a stratospheric rise, garnered an additional fillip from the announcement, with a single bitcoin changing hands on Monday at $42,709, up over 9%. Prices touched a record peak near $45,000.</p><p><blockquote>比特币的价格已经大幅上涨,这一消息进一步刺激了比特币的价格,周一一只比特币易手,价格为42,709美元,涨幅超过9%。价格创下近45,000美元的历史新高。</blockquote></p><p> But one of the key questions swirling around the decision by the manufacturer of electric vehicles is whether the move, including the decision to eventually allow for the sale of its products to take place in bitcoins, is a prudent use of capital. It’s a question that’s particularly important given the wild swings that both shares of Tesla and bitcoin are prone to, even if those assets have both been on a nearly uninterrupted ride higher.</p><p><blockquote>但围绕这家电动汽车制造商决定的一个关键问题是,此举(包括最终允许以比特币销售其产品的决定)是否是对资本的审慎使用。考虑到特斯拉和比特币的股价都容易出现剧烈波动,这个问题尤为重要,即使这些资产都几乎不间断地走高。</blockquote></p><p> “I think this is awful strategy on many, many levels,” Christopher Schwarz, associate professor of finance and faculty director of the Center for Investment and Wealth Management at the University of California at Irvine in emailed comments.</p><p><blockquote>加州大学欧文分校金融学副教授兼投资与财富管理中心主任克里斯托弗·施瓦茨(Christopher Schwarz)在电子邮件评论中表示:“我认为这在很多很多层面上都是糟糕的策略。”</blockquote></p><p> “In essence, this is like creating [currency] risk since none of Tesla’s suppliers are paid in bitcoin,” Schwarz told MarketWatch.</p><p><blockquote>施瓦茨告诉MarketWatch:“从本质上讲,这就像制造[货币]风险,因为特斯拉的供应商都没有在比特币获得付款。”</blockquote></p><p> An email to the company for comment wasn’t immediately returned.</p><p><blockquote>发给该公司征求评论的电子邮件没有立即得到回复。</blockquote></p><p> Musk’s moves come as Tesla focuses on ramping up its production of electric vehicles, with its share price soaring but the auto maker still a relatively niche player despite its market value of over $800 billion.</p><p><blockquote>马斯克采取这些举措之际,特斯拉正专注于提高电动汽车产量,其股价飙升,但尽管市值超过8000亿美元,这家汽车制造商仍然是一个相对小众的参与者。</blockquote></p><p> Shares of Tesla are up an eye-popping 472% over the past 12 months, making it one of the few traditional stocks that have outperformed bitcoin’s gain of 337% over the same stretch,</p><p><blockquote>特斯拉的股价在过去12个月内上涨了令人瞠目结舌的472%,使其成为少数表现优于比特币同期337%涨幅的传统股票之一。</blockquote></p><p> The Wall Street Journal notedthat Tesla has taken advantage of its rabid investor base and its share price rally to bolster its cash position, bringing its cash holdings to around $19.4 billion at the end of last year, up from around $6.3 billion at the end of 2019.</p><p><blockquote>《华尔街日报》指出,特斯拉利用其狂热的投资者基础和股价上涨来增强其现金头寸,使其现金持有量从去年年底的约63亿美元增至去年年底的约194亿美元。2019年。</blockquote></p><p> That means that its current bitcoin allocation represents about 8% of its cash holdings.</p><p><blockquote>这意味着其目前的比特币配置约占其现金持有量的8%。</blockquote></p><p> “Tesla’s purchase of bitcoin is an unusual use of corporate cash, which is typically held in safer and less volatile assets, such as short-term fixed income securities to ensure liquidity and limit volatility,” Jerry Klein, managing director and partner at Treasury Partners, based in New York, told MarketWatch via email.</p><p><blockquote>Treasury董事总经理兼合伙人Jerry Klein表示:“特斯拉购买比特币是对企业现金的不同寻常的使用,这些现金通常持有在更安全、波动性更小的资产中,例如短期固定收益证券,以确保流动性并限制波动性。”总部位于纽约的合伙人通过电子邮件告诉MarketWatch。</blockquote></p><p> “While Tesla shareholders are reacting positively to the news, it remains to be seen how shareholders would react if a decline in bitcoin’s price negatively affects Tesla’s future earnings,” Klein said. “CFOs are willing to accept risk in their overall business, but not with the cash on their balance sheet. While bitcoin has been surging in recent months, it’s been very volatile over the past few years,” he said.</p><p><blockquote>Klein表示:“虽然特斯拉股东对这一消息反应积极,但如果比特币股价下跌对特斯拉未来盈利产生负面影响,股东将如何反应还有待观察。”“首席财务官愿意接受整体业务的风险,但不愿意接受资产负债表上的现金。虽然比特币近几个月来一直在飙升,但过去几年一直非常不稳定,”他说。</blockquote></p><p> To be sure, Tesla isn’t the first company, and isn’t likely to be the last, to apportion some share of holdings to bitcoin. Software company MicroStrategy Inc. last year acquired somce bitcoin and has been a champion of other corporations do so.</p><p><blockquote>可以肯定的是,特斯拉不是第一家,也不太可能是最后一家向比特币分配部分股份的公司。软件公司MicroStrategy Inc.去年收购了somce比特币公司,并一直是其他公司这样做的倡导者。</blockquote></p><p> MicroStrategy, which recently hosted a virtual conference on the utility of bitcoin for corporations, estimates that roughly $50 billion worth of bitcoin is owned by private and publicly traded companies, citing data from BitcoinTreasuries.org.</p><p><blockquote>MicroStrategy最近举办了一次关于企业比特币效用的虚拟会议,援引BitcoinTreasuries.org的数据估计,价值约500亿美元的比特币归私营和上市公司所有。</blockquote></p><p> MicroStrategy reported that about 8,200 people attended its weekend conference from nearly 7,000 companies.</p><p><blockquote>MicroStrategy报告称,来自近7,000家公司的约8,200人参加了其周末会议。</blockquote></p><p> Back to Tesla, Joe Osha, a Tesla analyst at JMP Securities told MarketWatch in a Monday afternoon phone interview that the electric-vehicle maker is often framed as having cash management troubles but believes that that is a bogus assesment.</p><p><blockquote>回到特斯拉,JMP证券(JMP Securities)特斯拉分析师乔·奥沙(Joe Osha)在周一下午的电话采访中告诉MarketWatch,这家电动汽车制造商经常被认为存在现金管理问题,但他认为这是一个虚假的评估。</blockquote></p><p> “I think that there’s this very stale narrative around Tesla’s liquidity that is no longer consistent around its balance sheet or its cash flow generation,” Osha said.</p><p><blockquote>Osha表示:“我认为,围绕特斯拉流动性的叙述非常陈旧,其资产负债表或现金流生成不再一致。”</blockquote></p><p> He makes the case that the companies investment in bitcoin is trivial against the scale of its ability to generate cash, and aligns with the company’s strategy of being a disrupter.</p><p><blockquote>他认为,相对于其产生现金的能力规模,该公司在比特币的投资微不足道,并且符合该公司成为颠覆者的战略。</blockquote></p><p> “I see it as another step in Tesla’s effort to reinvent how cars are sold and delivered to people,” said Osha, who is referring to Tesla’s direct-to-customer sales model. Osha estimates that Tesla generated about $1.868 billion in free cash flow in the December quarter.</p><p><blockquote>“我认为这是特斯拉重塑汽车销售和交付方式的又一步,”Osha说,他指的是特斯拉直接面向客户的销售模式。Osha估计,特斯拉在12月份季度产生了约18.68亿美元的自由现金流。</blockquote></p><p> Chester Spatt, professor at Carnegie Mellon University’s Tepper School of Business, told MarketWatch that bitcoin’s volatility makes it a tough asset to serve as a reserve asset for corporations or a medium of exchange.</p><p><blockquote>卡耐基梅隆大学泰珀商学院教授Chester Spatt告诉MarketWatch,比特币的波动性使其很难作为企业的储备资产或交易媒介。</blockquote></p><p></p><p> “You have volatility here that’s about 10 times that of the euro ,” the professor, who served as economist and director of the Securities and Exchange Commission’s Office of Economic Analysis from 2004-07 , said.</p><p><blockquote>“这里的波动性大约是欧元的10倍,”这位教授说,他曾在2004年至2007年期间担任经济学家兼美国证券交易委员会经济分析办公室主任。</blockquote></p><p> “That movement poses a lot of challenges for a corporation to hold [bitcoin] on their balance sheet but it also poses challenges from the point of the consumer,” he said.</p><p><blockquote>“这一运动给公司在资产负债表上保留[比特币]带来了很多挑战,但从消费者的角度来看,它也带来了挑战,”他说。</blockquote></p><p> Shares of Tesla closed up 1.3% on Monday.</p><p><blockquote>特斯拉股价周一收盘上涨1.3%。</blockquote></p><p> Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender, said that it may make some sense for corporations to put some of their “dry powder” in bitcoin, especially with interest rates near 0% and the U.S. dollar under pressure, as measured by the ICE U.S. Dollar Index,which is down nearly 8% over the past year, FactSet data show.</p><p><blockquote>加密货币贷款机构Nexo的联合创始人兼管理合伙人Antoni Trenchev表示,对于企业来说,将一些“干粉”放在比特币可能有一定意义,特别是在利率接近0%且美元面临压力的情况下FactSet数据显示,ICE美元指数在过去一年中下跌了近8%。</blockquote></p><p> “Corporations with ever increasing dry powder have a most obvious cash management option: partial BTC allocation,” Trenchev told MarketWatch.</p><p><blockquote>Trenchev告诉MarketWatch:“干粉不断增加的公司有一个最明显的现金管理选择:部分BTC分配。”</blockquote></p><p> “Sitting on piles of cash offers little to no return and gets constantly devalued by central banks’ excessive QE measures. Having a treasury policy that diversifies risk and return, as well as looking into ‘the fastest horse’, is not only a sound policy, but is also the one that most adheres to the key principle of maximizing shareholder value,” he said.</p><p><blockquote>“坐拥大量现金几乎没有回报,并且因央行过度的量化宽松措施而不断贬值。制定分散风险和回报的财政部政策,以及寻找‘最快的马’,不仅是一项合理的政策,但也是最坚持股东价值最大化关键原则的政策,”他说。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Tesla’s $1.5 billion bitcoin buy smart corporate finance? Experts weigh in<blockquote>特斯拉斥资15亿美元收购比特币是明智的企业融资吗?专家发表意见</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Tesla’s $1.5 billion bitcoin buy smart corporate finance? Experts weigh in<blockquote>特斯拉斥资15亿美元收购比特币是明智的企业融资吗?专家发表意见</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-09 11:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4d612c15beca2f2d4d56a304cff74080\" tg-width=\"1260\" tg-height=\"876\"><span>MARKETWATCH PHOTO ILLUSTRATION/GETTY IMAGES|, ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/GETTY IMAGES|,ISTOCKPHOTO</span></p></blockquote></p><p> Tesla Inc. on Monday said that it bought $1.5 billion in bitcoin, a purchase that comes after CEO Elon Musk has promoted the world’s No. 1 digital asset,along with other cryptos, in recent weeks.</p><p><blockquote>特斯拉公司周一表示,它以15亿美元的价格收购了比特币,此前首席执行官Elon Musk最近几周推广了全球第一大数字资产以及其他加密货币。</blockquote></p><p> Bitcoin’s price already on a stratospheric rise, garnered an additional fillip from the announcement, with a single bitcoin changing hands on Monday at $42,709, up over 9%. Prices touched a record peak near $45,000.</p><p><blockquote>比特币的价格已经大幅上涨,这一消息进一步刺激了比特币的价格,周一一只比特币易手,价格为42,709美元,涨幅超过9%。价格创下近45,000美元的历史新高。</blockquote></p><p> But one of the key questions swirling around the decision by the manufacturer of electric vehicles is whether the move, including the decision to eventually allow for the sale of its products to take place in bitcoins, is a prudent use of capital. It’s a question that’s particularly important given the wild swings that both shares of Tesla and bitcoin are prone to, even if those assets have both been on a nearly uninterrupted ride higher.</p><p><blockquote>但围绕这家电动汽车制造商决定的一个关键问题是,此举(包括最终允许以比特币销售其产品的决定)是否是对资本的审慎使用。考虑到特斯拉和比特币的股价都容易出现剧烈波动,这个问题尤为重要,即使这些资产都几乎不间断地走高。</blockquote></p><p> “I think this is awful strategy on many, many levels,” Christopher Schwarz, associate professor of finance and faculty director of the Center for Investment and Wealth Management at the University of California at Irvine in emailed comments.</p><p><blockquote>加州大学欧文分校金融学副教授兼投资与财富管理中心主任克里斯托弗·施瓦茨(Christopher Schwarz)在电子邮件评论中表示:“我认为这在很多很多层面上都是糟糕的策略。”</blockquote></p><p> “In essence, this is like creating [currency] risk since none of Tesla’s suppliers are paid in bitcoin,” Schwarz told MarketWatch.</p><p><blockquote>施瓦茨告诉MarketWatch:“从本质上讲,这就像制造[货币]风险,因为特斯拉的供应商都没有在比特币获得付款。”</blockquote></p><p> An email to the company for comment wasn’t immediately returned.</p><p><blockquote>发给该公司征求评论的电子邮件没有立即得到回复。</blockquote></p><p> Musk’s moves come as Tesla focuses on ramping up its production of electric vehicles, with its share price soaring but the auto maker still a relatively niche player despite its market value of over $800 billion.</p><p><blockquote>马斯克采取这些举措之际,特斯拉正专注于提高电动汽车产量,其股价飙升,但尽管市值超过8000亿美元,这家汽车制造商仍然是一个相对小众的参与者。</blockquote></p><p> Shares of Tesla are up an eye-popping 472% over the past 12 months, making it one of the few traditional stocks that have outperformed bitcoin’s gain of 337% over the same stretch,</p><p><blockquote>特斯拉的股价在过去12个月内上涨了令人瞠目结舌的472%,使其成为少数表现优于比特币同期337%涨幅的传统股票之一。</blockquote></p><p> The Wall Street Journal notedthat Tesla has taken advantage of its rabid investor base and its share price rally to bolster its cash position, bringing its cash holdings to around $19.4 billion at the end of last year, up from around $6.3 billion at the end of 2019.</p><p><blockquote>《华尔街日报》指出,特斯拉利用其狂热的投资者基础和股价上涨来增强其现金头寸,使其现金持有量从去年年底的约63亿美元增至去年年底的约194亿美元。2019年。</blockquote></p><p> That means that its current bitcoin allocation represents about 8% of its cash holdings.</p><p><blockquote>这意味着其目前的比特币配置约占其现金持有量的8%。</blockquote></p><p> “Tesla’s purchase of bitcoin is an unusual use of corporate cash, which is typically held in safer and less volatile assets, such as short-term fixed income securities to ensure liquidity and limit volatility,” Jerry Klein, managing director and partner at Treasury Partners, based in New York, told MarketWatch via email.</p><p><blockquote>Treasury董事总经理兼合伙人Jerry Klein表示:“特斯拉购买比特币是对企业现金的不同寻常的使用,这些现金通常持有在更安全、波动性更小的资产中,例如短期固定收益证券,以确保流动性并限制波动性。”总部位于纽约的合伙人通过电子邮件告诉MarketWatch。</blockquote></p><p> “While Tesla shareholders are reacting positively to the news, it remains to be seen how shareholders would react if a decline in bitcoin’s price negatively affects Tesla’s future earnings,” Klein said. “CFOs are willing to accept risk in their overall business, but not with the cash on their balance sheet. While bitcoin has been surging in recent months, it’s been very volatile over the past few years,” he said.</p><p><blockquote>Klein表示:“虽然特斯拉股东对这一消息反应积极,但如果比特币股价下跌对特斯拉未来盈利产生负面影响,股东将如何反应还有待观察。”“首席财务官愿意接受整体业务的风险,但不愿意接受资产负债表上的现金。虽然比特币近几个月来一直在飙升,但过去几年一直非常不稳定,”他说。</blockquote></p><p> To be sure, Tesla isn’t the first company, and isn’t likely to be the last, to apportion some share of holdings to bitcoin. Software company MicroStrategy Inc. last year acquired somce bitcoin and has been a champion of other corporations do so.</p><p><blockquote>可以肯定的是,特斯拉不是第一家,也不太可能是最后一家向比特币分配部分股份的公司。软件公司MicroStrategy Inc.去年收购了somce比特币公司,并一直是其他公司这样做的倡导者。</blockquote></p><p> MicroStrategy, which recently hosted a virtual conference on the utility of bitcoin for corporations, estimates that roughly $50 billion worth of bitcoin is owned by private and publicly traded companies, citing data from BitcoinTreasuries.org.</p><p><blockquote>MicroStrategy最近举办了一次关于企业比特币效用的虚拟会议,援引BitcoinTreasuries.org的数据估计,价值约500亿美元的比特币归私营和上市公司所有。</blockquote></p><p> MicroStrategy reported that about 8,200 people attended its weekend conference from nearly 7,000 companies.</p><p><blockquote>MicroStrategy报告称,来自近7,000家公司的约8,200人参加了其周末会议。</blockquote></p><p> Back to Tesla, Joe Osha, a Tesla analyst at JMP Securities told MarketWatch in a Monday afternoon phone interview that the electric-vehicle maker is often framed as having cash management troubles but believes that that is a bogus assesment.</p><p><blockquote>回到特斯拉,JMP证券(JMP Securities)特斯拉分析师乔·奥沙(Joe Osha)在周一下午的电话采访中告诉MarketWatch,这家电动汽车制造商经常被认为存在现金管理问题,但他认为这是一个虚假的评估。</blockquote></p><p> “I think that there’s this very stale narrative around Tesla’s liquidity that is no longer consistent around its balance sheet or its cash flow generation,” Osha said.</p><p><blockquote>Osha表示:“我认为,围绕特斯拉流动性的叙述非常陈旧,其资产负债表或现金流生成不再一致。”</blockquote></p><p> He makes the case that the companies investment in bitcoin is trivial against the scale of its ability to generate cash, and aligns with the company’s strategy of being a disrupter.</p><p><blockquote>他认为,相对于其产生现金的能力规模,该公司在比特币的投资微不足道,并且符合该公司成为颠覆者的战略。</blockquote></p><p> “I see it as another step in Tesla’s effort to reinvent how cars are sold and delivered to people,” said Osha, who is referring to Tesla’s direct-to-customer sales model. Osha estimates that Tesla generated about $1.868 billion in free cash flow in the December quarter.</p><p><blockquote>“我认为这是特斯拉重塑汽车销售和交付方式的又一步,”Osha说,他指的是特斯拉直接面向客户的销售模式。Osha估计,特斯拉在12月份季度产生了约18.68亿美元的自由现金流。</blockquote></p><p> Chester Spatt, professor at Carnegie Mellon University’s Tepper School of Business, told MarketWatch that bitcoin’s volatility makes it a tough asset to serve as a reserve asset for corporations or a medium of exchange.</p><p><blockquote>卡耐基梅隆大学泰珀商学院教授Chester Spatt告诉MarketWatch,比特币的波动性使其很难作为企业的储备资产或交易媒介。</blockquote></p><p></p><p> “You have volatility here that’s about 10 times that of the euro ,” the professor, who served as economist and director of the Securities and Exchange Commission’s Office of Economic Analysis from 2004-07 , said.</p><p><blockquote>“这里的波动性大约是欧元的10倍,”这位教授说,他曾在2004年至2007年期间担任经济学家兼美国证券交易委员会经济分析办公室主任。</blockquote></p><p> “That movement poses a lot of challenges for a corporation to hold [bitcoin] on their balance sheet but it also poses challenges from the point of the consumer,” he said.</p><p><blockquote>“这一运动给公司在资产负债表上保留[比特币]带来了很多挑战,但从消费者的角度来看,它也带来了挑战,”他说。</blockquote></p><p> Shares of Tesla closed up 1.3% on Monday.</p><p><blockquote>特斯拉股价周一收盘上涨1.3%。</blockquote></p><p> Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender, said that it may make some sense for corporations to put some of their “dry powder” in bitcoin, especially with interest rates near 0% and the U.S. dollar under pressure, as measured by the ICE U.S. Dollar Index,which is down nearly 8% over the past year, FactSet data show.</p><p><blockquote>加密货币贷款机构Nexo的联合创始人兼管理合伙人Antoni Trenchev表示,对于企业来说,将一些“干粉”放在比特币可能有一定意义,特别是在利率接近0%且美元面临压力的情况下FactSet数据显示,ICE美元指数在过去一年中下跌了近8%。</blockquote></p><p> “Corporations with ever increasing dry powder have a most obvious cash management option: partial BTC allocation,” Trenchev told MarketWatch.</p><p><blockquote>Trenchev告诉MarketWatch:“干粉不断增加的公司有一个最明显的现金管理选择:部分BTC分配。”</blockquote></p><p> “Sitting on piles of cash offers little to no return and gets constantly devalued by central banks’ excessive QE measures. Having a treasury policy that diversifies risk and return, as well as looking into ‘the fastest horse’, is not only a sound policy, but is also the one that most adheres to the key principle of maximizing shareholder value,” he said.</p><p><blockquote>“坐拥大量现金几乎没有回报,并且因央行过度的量化宽松措施而不断贬值。制定分散风险和回报的财政部政策,以及寻找‘最快的马’,不仅是一项合理的政策,但也是最坚持股东价值最大化关键原则的政策,”他说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.marketwatch.com/story/is-teslas-1-5-billion-bitcoin-buy-smart-corporate-finance-experts-weigh-in-11612817269?mod=home-page\">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":{"GBTC":"比特币ETF-Grayscale","TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/is-teslas-1-5-billion-bitcoin-buy-smart-corporate-finance-experts-weigh-in-11612817269?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1143370300","content_text":"MARKETWATCH PHOTO ILLUSTRATION/GETTY IMAGES|, ISTOCKPHOTO\nTesla Inc. on Monday said that it bought $1.5 billion in bitcoin, a purchase that comes after CEO Elon Musk has promoted the world’s No. 1 digital asset,along with other cryptos, in recent weeks.\nBitcoin’s price already on a stratospheric rise, garnered an additional fillip from the announcement, with a single bitcoin changing hands on Monday at $42,709, up over 9%. Prices touched a record peak near $45,000.\nBut one of the key questions swirling around the decision by the manufacturer of electric vehicles is whether the move, including the decision to eventually allow for the sale of its products to take place in bitcoins, is a prudent use of capital. It’s a question that’s particularly important given the wild swings that both shares of Tesla and bitcoin are prone to, even if those assets have both been on a nearly uninterrupted ride higher.\n“I think this is awful strategy on many, many levels,” Christopher Schwarz, associate professor of finance and faculty director of the Center for Investment and Wealth Management at the University of California at Irvine in emailed comments.\n“In essence, this is like creating [currency] risk since none of Tesla’s suppliers are paid in bitcoin,” Schwarz told MarketWatch.\nAn email to the company for comment wasn’t immediately returned.\nMusk’s moves come as Tesla focuses on ramping up its production of electric vehicles, with its share price soaring but the auto maker still a relatively niche player despite its market value of over $800 billion.\nShares of Tesla are up an eye-popping 472% over the past 12 months, making it one of the few traditional stocks that have outperformed bitcoin’s gain of 337% over the same stretch,\nThe Wall Street Journal notedthat Tesla has taken advantage of its rabid investor base and its share price rally to bolster its cash position, bringing its cash holdings to around $19.4 billion at the end of last year, up from around $6.3 billion at the end of 2019.\nThat means that its current bitcoin allocation represents about 8% of its cash holdings.\n“Tesla’s purchase of bitcoin is an unusual use of corporate cash, which is typically held in safer and less volatile assets, such as short-term fixed income securities to ensure liquidity and limit volatility,” Jerry Klein, managing director and partner at Treasury Partners, based in New York, told MarketWatch via email.\n“While Tesla shareholders are reacting positively to the news, it remains to be seen how shareholders would react if a decline in bitcoin’s price negatively affects Tesla’s future earnings,” Klein said. “CFOs are willing to accept risk in their overall business, but not with the cash on their balance sheet. While bitcoin has been surging in recent months, it’s been very volatile over the past few years,” he said.\nTo be sure, Tesla isn’t the first company, and isn’t likely to be the last, to apportion some share of holdings to bitcoin. Software company MicroStrategy Inc. last year acquired somce bitcoin and has been a champion of other corporations do so.\nMicroStrategy, which recently hosted a virtual conference on the utility of bitcoin for corporations, estimates that roughly $50 billion worth of bitcoin is owned by private and publicly traded companies, citing data from BitcoinTreasuries.org.\nMicroStrategy reported that about 8,200 people attended its weekend conference from nearly 7,000 companies.\nBack to Tesla, Joe Osha, a Tesla analyst at JMP Securities told MarketWatch in a Monday afternoon phone interview that the electric-vehicle maker is often framed as having cash management troubles but believes that that is a bogus assesment.\n“I think that there’s this very stale narrative around Tesla’s liquidity that is no longer consistent around its balance sheet or its cash flow generation,” Osha said.\nHe makes the case that the companies investment in bitcoin is trivial against the scale of its ability to generate cash, and aligns with the company’s strategy of being a disrupter.\n“I see it as another step in Tesla’s effort to reinvent how cars are sold and delivered to people,” said Osha, who is referring to Tesla’s direct-to-customer sales model. Osha estimates that Tesla generated about $1.868 billion in free cash flow in the December quarter.\nChester Spatt, professor at Carnegie Mellon University’s Tepper School of Business, told MarketWatch that bitcoin’s volatility makes it a tough asset to serve as a reserve asset for corporations or a medium of exchange.\n“You have volatility here that’s about 10 times that of the euro ,” the professor, who served as economist and director of the Securities and Exchange Commission’s Office of Economic Analysis from 2004-07 , said.\n“That movement poses a lot of challenges for a corporation to hold [bitcoin] on their balance sheet but it also poses challenges from the point of the consumer,” he said.\nShares of Tesla closed up 1.3% on Monday.\nAntoni Trenchev, co-founder and managing partner of Nexo, a crypto lender, said that it may make some sense for corporations to put some of their “dry powder” in bitcoin, especially with interest rates near 0% and the U.S. dollar under pressure, as measured by the ICE U.S. Dollar Index,which is down nearly 8% over the past year, FactSet data show.\n“Corporations with ever increasing dry powder have a most obvious cash management option: partial BTC allocation,” Trenchev told MarketWatch.\n“Sitting on piles of cash offers little to no return and gets constantly devalued by central banks’ excessive QE measures. Having a treasury policy that diversifies risk and return, as well as looking into ‘the fastest horse’, is not only a sound policy, but is also the one that most adheres to the key principle of maximizing shareholder value,” he said.","news_type":1,"symbols_score_info":{"BTCmain":0.9,"TSLA":0.9,"XBTmain":0.9,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":1941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383351290,"gmtCreate":1612841862110,"gmtModify":1703765725386,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555045194439065","authorIdStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/383351290","repostId":"1142108333","repostType":4,"repost":{"id":"1142108333","kind":"news","pubTimestamp":1612841675,"share":"https://www.laohu8.com/m/news/1142108333?lang=zh_CN&edition=full","pubTime":"2021-02-09 11:34","market":"us","language":"en","title":"Earnings Grow for the First Time During the Pandemic. What That Means for Investors.<blockquote>疫情期间收入首次增长。这对投资者意味着什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142108333","media":"Barrons","summary":"Corporate earnings are increasing again, reflecting that the U.S. economy is more than on track for ","content":"<p>Corporate earnings are increasing again, reflecting that the U.S. economy is more than on track for recovery.</p><p><blockquote>企业盈利再次增长,反映出美国经济已经走上复苏的轨道。</blockquote></p><p> Companies representing roughly three quarters of theS&P 500’smarket capitalization have reported fourth-quarter earnings, according to Credit Suisse data. Combining actual results and analyst’s increases to their calls for profits of companies that haven’t yet reported, aggregate earnings per share for the index could rise 1.7% year over year, according to DataTrek.</p><p><blockquote>根据瑞士信贷的数据,约占标准普尔500指数市值四分之三的公司已经公布了第四季度收益。DataTrek的数据显示,结合实际业绩和分析师对尚未报告的公司利润评级的增长,该指数的每股收益总额可能同比增长1.7%。</blockquote></p><p> So far, the aggregate result is about 17% better than expected, Credit Suisse says. Sales are up about 1% and operating margins have expanded, creating the much improved bottom-line results.</p><p><blockquote>瑞士信贷表示,到目前为止,总体结果比预期高出约17%。销售额增长了约1%,营业利润率扩大,从而大大改善了盈利结果。</blockquote></p><p> Two points in the earnings results indicate an improving economy.</p><p><blockquote>盈利结果中的两点表明经济正在改善。</blockquote></p><p> Credit Suisse flagged the higher sales as a sign that consumers and businesses are spending more. Sales are up 4% year over year at makers of apparel and durable goods, according to the bank.</p><p><blockquote>瑞士信贷将销售额的增加视为消费者和企业支出增加的迹象。据该银行称,服装和耐用品制造商的销售额同比增长4%。</blockquote></p><p> Changes in profit margins tell a more important story, underscoring how a healthier economy is improving the earnings of the companies that were hurt most by the pandemic. A high portion of the costs of oil producers and manufacturers are fixed, so when revenues fall during a recession, profits fall harder than at other companies.</p><p><blockquote>利润率的变化讲述了一个更重要的故事,凸显了更健康的经济如何改善受疫情影响最严重的公司的盈利。石油生产商和制造商的大部分成本是固定的,因此当经济衰退期间收入下降时,利润下降得比其他公司更严重。</blockquote></p><p> Coming out of recessions, when revenues improve, profits rise significantly because costs are stable. Sales of materials producers are up 2% in aggregate, but earnings are up 17% because operating margins have increased by 14 percentage points.</p><p><blockquote>走出衰退后,当收入改善时,利润会大幅上升,因为成本稳定。材料生产商的销售额总体增长了2%,但盈利增长了17%,因为营业利润率增长了14个百分点。</blockquote></p><p> Stocks across many sectors have indeed risen, but earnings have not been the primary driver behind the breadth of the rally. TheInvesco S&P 500 Equal Weight ETF(RSP), which weights each holding equally and reflects the degree to which all sectors are participating in the rally, is up more than 4.5% year to date. That beats the gain in the popular S&P 500 index, which is weighted according to market capitalization—a sign the rally has been inclusive of many sectors. That is a reflection of a strengthening economy.</p><p><blockquote>许多行业的股票确实上涨,但盈利并不是涨势广泛背后的主要驱动力。景顺标普500等权重ETF(RSP)对每只持股进行同等权重,反映了所有行业参与反弹的程度,今年迄今已上涨超过4.5%。这超过了广受欢迎的标普500指数的涨幅,该指数根据市值加权——这表明涨势已涵盖许多行业。这反映了经济的强劲。</blockquote></p><p> Earlier in the profit-reporting season,most stocks were falling, with losses of 1% or more, even after companies reported strong earnings.Valuationswere high, reflecting expectations for strong results, so the actual results failed to provide much of a jolt.</p><p><blockquote>在财报季早些时候,即使公司公布了强劲的财报,大多数股票仍在下跌,跌幅仍达1%或更多。估值较高,反映了对强劲业绩的预期,因此实际业绩未能带来太大震动。</blockquote></p><p> In any case, strength in earnings won’t matter if the rollout of Covid-19 vaccines encounters big delays, because that would hurt the outlook for revenues. Stocks are trading more in response to positive vaccine news than on the fourth-quarter results.</p><p><blockquote>无论如何,如果Covid-19疫苗的推出遇到重大延误,盈利的强劲程度并不重要,因为这将损害收入前景。股市交易更多地是对积极的疫苗消息的反应,而不是对第四季度业绩的反应。</blockquote></p><p> The earnings still do matter, though. And if therollout of vaccinesdoesn’t run into new snags, EPS should rise quarter over quarter throughout the year.</p><p><blockquote>不过,收益仍然很重要。如果疫苗的推出没有遇到新的障碍,全年每股收益应该会逐季上升。</blockquote></p><p> Wall Street expects about $42 in aggregate per-share earnings for the S&P 500 for the fourth quarter of 2020, while estimates for the current quarter are a tick below that, according to DataTrek. If earnings come in at $45 a share per quarter for 2021, the year’s result should be $180, about 2.8% higher than current estimates.</p><p><blockquote>DataTrek的数据显示,华尔街预计标普500 2020年第四季度每股收益总额约为42美元,而当前季度的预期略低于这一数字。如果2021年每季度每股收益为45美元,则全年业绩应为180美元,比当前预期高出约2.8%。</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>Earnings Grow for the First Time During the Pandemic. What That Means for Investors.<blockquote>疫情期间收入首次增长。这对投资者意味着什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEarnings Grow for the First Time During the Pandemic. What That Means for Investors.<blockquote>疫情期间收入首次增长。这对投资者意味着什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-09 11:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Corporate earnings are increasing again, reflecting that the U.S. economy is more than on track for recovery.</p><p><blockquote>企业盈利再次增长,反映出美国经济已经走上复苏的轨道。</blockquote></p><p> Companies representing roughly three quarters of theS&P 500’smarket capitalization have reported fourth-quarter earnings, according to Credit Suisse data. Combining actual results and analyst’s increases to their calls for profits of companies that haven’t yet reported, aggregate earnings per share for the index could rise 1.7% year over year, according to DataTrek.</p><p><blockquote>根据瑞士信贷的数据,约占标准普尔500指数市值四分之三的公司已经公布了第四季度收益。DataTrek的数据显示,结合实际业绩和分析师对尚未报告的公司利润评级的增长,该指数的每股收益总额可能同比增长1.7%。</blockquote></p><p> So far, the aggregate result is about 17% better than expected, Credit Suisse says. Sales are up about 1% and operating margins have expanded, creating the much improved bottom-line results.</p><p><blockquote>瑞士信贷表示,到目前为止,总体结果比预期高出约17%。销售额增长了约1%,营业利润率扩大,从而大大改善了盈利结果。</blockquote></p><p> Two points in the earnings results indicate an improving economy.</p><p><blockquote>盈利结果中的两点表明经济正在改善。</blockquote></p><p> Credit Suisse flagged the higher sales as a sign that consumers and businesses are spending more. Sales are up 4% year over year at makers of apparel and durable goods, according to the bank.</p><p><blockquote>瑞士信贷将销售额的增加视为消费者和企业支出增加的迹象。据该银行称,服装和耐用品制造商的销售额同比增长4%。</blockquote></p><p> Changes in profit margins tell a more important story, underscoring how a healthier economy is improving the earnings of the companies that were hurt most by the pandemic. A high portion of the costs of oil producers and manufacturers are fixed, so when revenues fall during a recession, profits fall harder than at other companies.</p><p><blockquote>利润率的变化讲述了一个更重要的故事,凸显了更健康的经济如何改善受疫情影响最严重的公司的盈利。石油生产商和制造商的大部分成本是固定的,因此当经济衰退期间收入下降时,利润下降得比其他公司更严重。</blockquote></p><p> Coming out of recessions, when revenues improve, profits rise significantly because costs are stable. Sales of materials producers are up 2% in aggregate, but earnings are up 17% because operating margins have increased by 14 percentage points.</p><p><blockquote>走出衰退后,当收入改善时,利润会大幅上升,因为成本稳定。材料生产商的销售额总体增长了2%,但盈利增长了17%,因为营业利润率增长了14个百分点。</blockquote></p><p> Stocks across many sectors have indeed risen, but earnings have not been the primary driver behind the breadth of the rally. TheInvesco S&P 500 Equal Weight ETF(RSP), which weights each holding equally and reflects the degree to which all sectors are participating in the rally, is up more than 4.5% year to date. That beats the gain in the popular S&P 500 index, which is weighted according to market capitalization—a sign the rally has been inclusive of many sectors. That is a reflection of a strengthening economy.</p><p><blockquote>许多行业的股票确实上涨,但盈利并不是涨势广泛背后的主要驱动力。景顺标普500等权重ETF(RSP)对每只持股进行同等权重,反映了所有行业参与反弹的程度,今年迄今已上涨超过4.5%。这超过了广受欢迎的标普500指数的涨幅,该指数根据市值加权——这表明涨势已涵盖许多行业。这反映了经济的强劲。</blockquote></p><p> Earlier in the profit-reporting season,most stocks were falling, with losses of 1% or more, even after companies reported strong earnings.Valuationswere high, reflecting expectations for strong results, so the actual results failed to provide much of a jolt.</p><p><blockquote>在财报季早些时候,即使公司公布了强劲的财报,大多数股票仍在下跌,跌幅仍达1%或更多。估值较高,反映了对强劲业绩的预期,因此实际业绩未能带来太大震动。</blockquote></p><p> In any case, strength in earnings won’t matter if the rollout of Covid-19 vaccines encounters big delays, because that would hurt the outlook for revenues. Stocks are trading more in response to positive vaccine news than on the fourth-quarter results.</p><p><blockquote>无论如何,如果Covid-19疫苗的推出遇到重大延误,盈利的强劲程度并不重要,因为这将损害收入前景。股市交易更多地是对积极的疫苗消息的反应,而不是对第四季度业绩的反应。</blockquote></p><p> The earnings still do matter, though. And if therollout of vaccinesdoesn’t run into new snags, EPS should rise quarter over quarter throughout the year.</p><p><blockquote>不过,收益仍然很重要。如果疫苗的推出没有遇到新的障碍,全年每股收益应该会逐季上升。</blockquote></p><p> Wall Street expects about $42 in aggregate per-share earnings for the S&P 500 for the fourth quarter of 2020, while estimates for the current quarter are a tick below that, according to DataTrek. If earnings come in at $45 a share per quarter for 2021, the year’s result should be $180, about 2.8% higher than current estimates.</p><p><blockquote>DataTrek的数据显示,华尔街预计标普500 2020年第四季度每股收益总额约为42美元,而当前季度的预期略低于这一数字。如果2021年每季度每股收益为45美元,则全年业绩应为180美元,比当前预期高出约2.8%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.barrons.com/articles/earnings-are-growing-again-what-it-means-for-investors-51612817803?mod=hp_LEAD_1_B_2\">Barrons</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/earnings-are-growing-again-what-it-means-for-investors-51612817803?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142108333","content_text":"Corporate earnings are increasing again, reflecting that the U.S. economy is more than on track for recovery.\nCompanies representing roughly three quarters of theS&P 500’smarket capitalization have reported fourth-quarter earnings, according to Credit Suisse data. Combining actual results and analyst’s increases to their calls for profits of companies that haven’t yet reported, aggregate earnings per share for the index could rise 1.7% year over year, according to DataTrek.\nSo far, the aggregate result is about 17% better than expected, Credit Suisse says. Sales are up about 1% and operating margins have expanded, creating the much improved bottom-line results.\nTwo points in the earnings results indicate an improving economy.\nCredit Suisse flagged the higher sales as a sign that consumers and businesses are spending more. Sales are up 4% year over year at makers of apparel and durable goods, according to the bank.\nChanges in profit margins tell a more important story, underscoring how a healthier economy is improving the earnings of the companies that were hurt most by the pandemic. A high portion of the costs of oil producers and manufacturers are fixed, so when revenues fall during a recession, profits fall harder than at other companies.\nComing out of recessions, when revenues improve, profits rise significantly because costs are stable. Sales of materials producers are up 2% in aggregate, but earnings are up 17% because operating margins have increased by 14 percentage points.\nStocks across many sectors have indeed risen, but earnings have not been the primary driver behind the breadth of the rally. TheInvesco S&P 500 Equal Weight ETF(RSP), which weights each holding equally and reflects the degree to which all sectors are participating in the rally, is up more than 4.5% year to date. That beats the gain in the popular S&P 500 index, which is weighted according to market capitalization—a sign the rally has been inclusive of many sectors. That is a reflection of a strengthening economy.\nEarlier in the profit-reporting season,most stocks were falling, with losses of 1% or more, even after companies reported strong earnings.Valuationswere high, reflecting expectations for strong results, so the actual results failed to provide much of a jolt.\nIn any case, strength in earnings won’t matter if the rollout of Covid-19 vaccines encounters big delays, because that would hurt the outlook for revenues. Stocks are trading more in response to positive vaccine news than on the fourth-quarter results.\nThe earnings still do matter, though. And if therollout of vaccinesdoesn’t run into new snags, EPS should rise quarter over quarter throughout the year.\nWall Street expects about $42 in aggregate per-share earnings for the S&P 500 for the fourth quarter of 2020, while estimates for the current quarter are a tick below that, according to DataTrek. If earnings come in at $45 a share per quarter for 2021, the year’s result should be $180, about 2.8% higher than current estimates.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380700252,"gmtCreate":1612582338676,"gmtModify":1703763833484,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555045194439065","authorIdStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice good job","listText":"Nice good job","text":"Nice good job","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/380700252","repostId":"2109727286","repostType":4,"isVote":1,"tweetType":1,"viewCount":1932,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314150763,"gmtCreate":1612322720252,"gmtModify":1703760347398,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555045194439065","authorIdStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice stock room to grow","listText":"Nice stock room to grow","text":"Nice stock room to grow","images":[{"img":"https://static.tigerbbs.com/49ab1ab5e3972a3c6c0c5a5d76d8d218","width":"1080","height":"2536"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/314150763","isVote":1,"tweetType":1,"viewCount":2512,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":312218578,"gmtCreate":1612151923594,"gmtModify":1703757984013,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555045194439065","authorIdStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/312218578","repostId":"1104314892","repostType":4,"isVote":1,"tweetType":1,"viewCount":2663,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312218659,"gmtCreate":1612151890471,"gmtModify":1703757983661,"author":{"id":"3555045194439065","authorId":"3555045194439065","name":"HolyGrail","avatar":"https://static.tigerbbs.com/c408f38173f24bc3aefdda74a3a5e55a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555045194439065","authorIdStr":"3555045194439065"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/312218659","repostId":"1137987709","repostType":4,"isVote":1,"tweetType":1,"viewCount":2390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}