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2021-07-19

What is an SPAC. This is very interesting.

"Doomed To Fail" - Ackman's SPAC Backs Out Of Deal To Buy 10% Of Universal Music Group<blockquote>“注定失败”——阿克曼的SPAC退出收购环球音乐集团10%股份的交易</blockquote>

2021-07-19

Wow such a great article

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2021-07-19

Yay

Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>

2021-07-19

Like. Thank you.

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2021-07-17

Great ariticle, would you like to share it?

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This is very interesting.","listText":"What is an SPAC. This is very interesting.","text":"What is an SPAC. This is very interesting.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171032232","repostId":"1132377814","repostType":4,"repost":{"id":"1132377814","kind":"news","pubTimestamp":1626693740,"share":"https://www.laohu8.com/m/news/1132377814?lang=zh_CN&edition=full","pubTime":"2021-07-19 19:22","market":"us","language":"en","title":"\"Doomed To Fail\" - Ackman's SPAC Backs Out Of Deal To Buy 10% Of Universal Music Group<blockquote>“注定失败”——阿克曼的SPAC退出收购环球音乐集团10%股份的交易</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132377814","media":"zerohedge","summary":"Bill SPACman is about to have some explaining to do to an army of frustrated retail shareholders in ","content":"<p>Bill SPACman is about to have some explaining to do to an army of frustrated retail shareholders in his SPAC who have anxiously watched its post-offering premium shrink with a growing sense of trepidation.</p><p><blockquote>比尔·斯派克曼(Bill SPACman)即将向SPAC中一群沮丧的散户股东做出一些解释，他们焦急地看着其发行后溢价缩水，恐惧感越来越强。</blockquote></p><p> In a statement to shareholders in his SPAC - Pershing Square Tontine Holdings, or PSTH -<b>Ackman announced on Monday that a deal between his SPAC and French conglomerate Vivendi to purchase 10% of Universal Music Group</b>(which Vivendi is planning to spin off into a separate business controlled by a conglomerate of investors later this year)<i><b>has fallen apart.</b></i></p><p><blockquote>在给他的SPAC——潘兴广场通天控股公司（PSTH）股东的一份声明中——<b>阿克曼周一宣布，他的SPAC与法国企业集团维旺迪达成协议，收购环球音乐集团10%的股份</b>（维旺迪计划在今年晚些时候将其分拆为一个由投资者集团控制的独立业务）<i><b>已经分崩离析。</b></i></blockquote></p><p> The deal for UMG would have been the biggest SPAC deal in history, according to CNBC. However,<b>its complexity troubled regulators, and increasingly aroused opposition from investors.</b>Dimming demand has seen shares of PSTH fall 18% since the dealwas first announced in early June.</p><p><blockquote>据CNBC报道，UMG的交易将是历史上最大的SPAC交易。然而，<b>它的复杂性困扰着监管机构，并越来越引起投资者的反对。</b>自6月初首次宣布该交易以来，需求疲软导致PSTH股价下跌18%。</blockquote></p><p> But there's a twist.<i>Ackman isn't backing away entirely</i>(UMG is after all an extremely profitable business, made more so by the advent of streaming services like Spotify). Instead, the wealthy investors in Pershing Square, Ackman's hedge fund firm with more than $13 billion in assets under management, will walk away with a piece of UMG when the company lists on the Amsterdam Stock Exchange with an expected valuation of €35 billion. It will be controlled a consortium of investors, including Tencent.</p><p><blockquote>但是有一个转折。<i>阿克曼并没有完全退缩</i>（毕竟，UMG是一项利润丰厚的业务，Spotify等流媒体服务的出现让这一点变得更加重要）。相反，阿克曼的对冲基金公司潘兴广场(Pershing Square)管理着超过130亿美元的资产，当该公司在阿姆斯特丹证券交易所上市时，该公司的富裕投资者将带走UMG的一部分，预计估值为350亿欧元。它将由包括腾讯控股在内的投资者财团控制。</blockquote></p><p> AsWSJreported, the news marks an unceremonious conclusion to one of<b>\"the biggest guessing games on Wall Street\"</b>as investors tried to guess which target Ackman might pursue. Given his firm's unparalleled largess, options appeared limited. Which is one reason why the structure of the PSTH-UMG deal was so complex. With UMG set to list publicly, the deal's structure would have been exceedingly complex, asWSJattempts to explain:</p><p><blockquote>据ASWSJ报道，这一消息标志着一个毫不客气的结论<b>“华尔街最大的猜谜游戏”</b>当投资者试图猜测阿克曼可能追求哪个目标时。鉴于他的公司无与伦比的慷慨，选择似乎有限。这也是PSTH-UMG交易结构如此复杂的原因之一。由于UMG即将公开上市，交易的结构将极其复杂，正如WSJ试图解释的那样：</blockquote></p><p> <ul>  <li>Mr. Ackman’s deal was different: New York Stock Exchange-listed Pershing Square Tontine Holding Ltd. didn’t intend to merge with Universal but instead become a shareholder ahead of an already-planned listing by Universal in the Netherlands. People familiar with the matter said it was structured that way because of tax and legal implications for Vivendi, The Wall Street Journal reported.</li>  <li>The structure was hailed by some as a feat of financial engineering that also freed Mr. Ackman from some of the usual constraints of SPACs.</li>  <li>Some observers, though, saw the structure as a concession to the reality that in an increasingly crowded SPAC market, and because of the relatively large size of the vehicle, Mr. Ackman wasn’t able to pull off a more conventional deal, as had been expected. In a sign of waning investor enthusiasm, Pershing Square Tontine shares have fallen 18% since the original transaction was announced on June 4.</li> </ul> After Ackman failed to strike merger deals with Airbnb and Stripe, reports of the deal to take a stake in UMG were greeted with celebration, at least initially. But investors and analysts quickly questioned whether the complexity of the deal, which would leave the publicly traded SPAC with a stake in another publicly traded company, would fly with regulators. Turns out, they were correct. In Pershing's statement, Ackman cites the SEC's misgivings as the main reason for scrapping the deal.</p><p><blockquote><ul><li>阿克曼的交易有所不同：在纽约证券交易所上市的潘兴广场通天控股有限公司并不打算与环球合并，而是在环球已经计划在荷兰上市之前成为股东。据《华尔街日报》报道，知情人士表示，由于维旺迪的税收和法律影响，该公司的结构如此。</li><li>这种结构被一些人誉为金融工程的壮举，也使阿克曼摆脱了SPAC的一些常见限制。</li><li>不过，一些观察人士认为，这种结构是对现实的让步：在日益拥挤的SPAC市场中，由于该工具的规模相对较大，阿克曼无法像预期的那样完成更传统的交易。自6月4日宣布最初交易以来，Pershing Square Tontine股价已下跌18%，这表明投资者热情减弱。</li></ul>在阿克曼未能与爱彼迎和Stripe达成合并协议后，有关入股UMG的报道受到了庆祝，至少在最初是这样。但投资者和分析师很快质疑，这笔交易的复杂性是否会让监管机构满意，这将使上市的SPAC持有另一家上市公司的股份。事实证明，他们是正确的。在潘兴的声明中，阿克曼将美国证券交易委员会的疑虑作为取消该交易的主要原因。</blockquote></p><p>   <b>\"Our decision to seek an alternative initial business combination (IBC) was driven by issues raised by the SEC with several elements of the proposed transaction</b>- in particular, whether the structure of our IBC qualified under the NYSE rules.\"  Ackman explains that he hadn’t anticipated shareholders’ apprehensions about the structure of the deal and its \"potential impact on investors who are unable to hold foreign securities, who margin their shares, or who own call options on our stock.\" Of course, as we noted earlier, Ackman isn't leaving anyone \"at the altar.\"</p><p><blockquote><b>“我们决定寻求替代性初始业务合并(IBC)是由SEC对拟议交易的几个要素提出的问题推动的</b>-特别是，我们IBC的结构是否符合纽约证券交易所的规则。”阿克曼解释说，他没有预料到股东对交易结构及其“对无法持有外国证券、股票保证金或拥有我们股票看涨期权期权的投资者的潜在影响”的担忧。当然，正如我们之前指出的，阿克曼不会让任何人“站在圣坛上”。</blockquote></p><p>   <b>\"Yet, despite the inability of PSTH to consummate the UMG transaction, our counterparty was not left at the altar.</b>Pershing Square will be fulfilling PSTH’s commitment to Vivendi.\"  One rival institution appeared to question whether Ackman really believed the deal would succeed,Bloombergreports.</p><p><blockquote><b>“然而，尽管PSTH无法完成UMG交易，但我们的交易对手并没有被留在神坛上。</b>潘兴广场将履行PSTH对维旺迪的承诺。”据彭博社报道，一家竞争对手机构似乎质疑阿克曼是否真的相信这笔交易会成功。</blockquote></p><p></p><p>   <b>\"It was an ill-fated transaction doomed to fail and it did,”</b>said Bluebell Capital Partners Chief Investment Officer Giuseppe Bivona, who had launched an activist campaign against the company earlier this year and still owns Vivendi shares. \"There’s not much we know at this stage but it doesn’t seem to be just the change in entities. It’s not clear if Pershing Square is buying the full 10%.\"  As Bluebell says, it's unclear whether Ackman will actually walk away with 10% when the deal is finished. Vivendi says if the stake is less than 10%, it will sell an equivalent amount of shares to whatever is left on the table to investors ahead of the September listing. Given UMG's market dominance - it controls 40% of the American music market - it's likely the deal will draw considerable interest from institutional shareholders.</p><p><blockquote><b>“这是一笔注定要失败的命运多舛的交易，事实也的确如此。”</b>Bluebell Capital Partners首席投资官朱塞佩·比沃纳(Giuseppe Bivona)表示，他今年早些时候发起了一场反对该公司的激进运动，目前仍持有维旺迪的股票。“现阶段我们知道的不多，但似乎不仅仅是实体的变化。目前尚不清楚潘兴广场是否会购买全部10%的股份。”正如Bluebell所说，目前尚不清楚交易完成后阿克曼是否真的会拿走10%的股份。维旺迪表示，如果持股比例低于10%，它将在9月份上市前向投资者出售与剩余股份相当的股份。鉴于UMG的市场主导地位——它控制着美国音乐市场40%的份额——这笔交易很可能会引起机构股东的极大兴趣。</blockquote></p><p> Ackman's SPAC still has another 18 months to complete a deal, but given it's size and the seeming shortage of suitable targets following years of frenzied dealmaking activity which has left slim pickings even for investors with a fraction of the money Ackman has to put to work.</p><p><blockquote>阿克曼的SPAC还有18个月的时间来完成交易，但考虑到其规模以及多年疯狂的交易活动后似乎缺乏合适的目标，即使对于只有阿克曼必须投入的一小部分资金的投资者来说，选择也很少。</blockquote></p><p> He now as 18 months to strike a deal, or being forced to return capital to shareholders. Ultimately, it's an example of retail investors being left exposed, while Ackman's wealthy hedge fund investors are left with a stake in an extremely profitable business.</p><p><blockquote>他现在有18个月的时间达成交易，否则将被迫向股东返还资本。最终，这是散户投资者面临风险的一个例子，而阿克曼富有的对冲基金投资者则持有一家利润丰厚的企业的股份。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Doomed To Fail\" - Ackman's SPAC Backs Out Of Deal To Buy 10% Of Universal Music Group<blockquote>“注定失败”——阿克曼的SPAC退出收购环球音乐集团10%股份的交易</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\">\n\"Doomed To Fail\" - Ackman's SPAC Backs Out Of Deal To Buy 10% Of Universal Music Group<blockquote>“注定失败”——阿克曼的SPAC退出收购环球音乐集团10%股份的交易</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-19 19:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Bill SPACman is about to have some explaining to do to an army of frustrated retail shareholders in his SPAC who have anxiously watched its post-offering premium shrink with a growing sense of trepidation.</p><p><blockquote>比尔·斯派克曼(Bill SPACman)即将向SPAC中一群沮丧的散户股东做出一些解释，他们焦急地看着其发行后溢价缩水，恐惧感越来越强。</blockquote></p><p> In a statement to shareholders in his SPAC - Pershing Square Tontine Holdings, or PSTH -<b>Ackman announced on Monday that a deal between his SPAC and French conglomerate Vivendi to purchase 10% of Universal Music Group</b>(which Vivendi is planning to spin off into a separate business controlled by a conglomerate of investors later this year)<i><b>has fallen apart.</b></i></p><p><blockquote>在给他的SPAC——潘兴广场通天控股公司（PSTH）股东的一份声明中——<b>阿克曼周一宣布，他的SPAC与法国企业集团维旺迪达成协议，收购环球音乐集团10%的股份</b>（维旺迪计划在今年晚些时候将其分拆为一个由投资者集团控制的独立业务）<i><b>已经分崩离析。</b></i></blockquote></p><p> The deal for UMG would have been the biggest SPAC deal in history, according to CNBC. However,<b>its complexity troubled regulators, and increasingly aroused opposition from investors.</b>Dimming demand has seen shares of PSTH fall 18% since the dealwas first announced in early June.</p><p><blockquote>据CNBC报道，UMG的交易将是历史上最大的SPAC交易。然而，<b>它的复杂性困扰着监管机构，并越来越引起投资者的反对。</b>自6月初首次宣布该交易以来，需求疲软导致PSTH股价下跌18%。</blockquote></p><p> But there's a twist.<i>Ackman isn't backing away entirely</i>(UMG is after all an extremely profitable business, made more so by the advent of streaming services like Spotify). Instead, the wealthy investors in Pershing Square, Ackman's hedge fund firm with more than $13 billion in assets under management, will walk away with a piece of UMG when the company lists on the Amsterdam Stock Exchange with an expected valuation of €35 billion. It will be controlled a consortium of investors, including Tencent.</p><p><blockquote>但是有一个转折。<i>阿克曼并没有完全退缩</i>（毕竟，UMG是一项利润丰厚的业务，Spotify等流媒体服务的出现让这一点变得更加重要）。相反，阿克曼的对冲基金公司潘兴广场(Pershing Square)管理着超过130亿美元的资产，当该公司在阿姆斯特丹证券交易所上市时，该公司的富裕投资者将带走UMG的一部分，预计估值为350亿欧元。它将由包括腾讯控股在内的投资者财团控制。</blockquote></p><p> AsWSJreported, the news marks an unceremonious conclusion to one of<b>\"the biggest guessing games on Wall Street\"</b>as investors tried to guess which target Ackman might pursue. Given his firm's unparalleled largess, options appeared limited. Which is one reason why the structure of the PSTH-UMG deal was so complex. With UMG set to list publicly, the deal's structure would have been exceedingly complex, asWSJattempts to explain:</p><p><blockquote>据ASWSJ报道，这一消息标志着一个毫不客气的结论<b>“华尔街最大的猜谜游戏”</b>当投资者试图猜测阿克曼可能追求哪个目标时。鉴于他的公司无与伦比的慷慨，选择似乎有限。这也是PSTH-UMG交易结构如此复杂的原因之一。由于UMG即将公开上市，交易的结构将极其复杂，正如WSJ试图解释的那样：</blockquote></p><p> <ul>  <li>Mr. Ackman’s deal was different: New York Stock Exchange-listed Pershing Square Tontine Holding Ltd. didn’t intend to merge with Universal but instead become a shareholder ahead of an already-planned listing by Universal in the Netherlands. People familiar with the matter said it was structured that way because of tax and legal implications for Vivendi, The Wall Street Journal reported.</li>  <li>The structure was hailed by some as a feat of financial engineering that also freed Mr. Ackman from some of the usual constraints of SPACs.</li>  <li>Some observers, though, saw the structure as a concession to the reality that in an increasingly crowded SPAC market, and because of the relatively large size of the vehicle, Mr. Ackman wasn’t able to pull off a more conventional deal, as had been expected. In a sign of waning investor enthusiasm, Pershing Square Tontine shares have fallen 18% since the original transaction was announced on June 4.</li> </ul> After Ackman failed to strike merger deals with Airbnb and Stripe, reports of the deal to take a stake in UMG were greeted with celebration, at least initially. But investors and analysts quickly questioned whether the complexity of the deal, which would leave the publicly traded SPAC with a stake in another publicly traded company, would fly with regulators. Turns out, they were correct. In Pershing's statement, Ackman cites the SEC's misgivings as the main reason for scrapping the deal.</p><p><blockquote><ul><li>阿克曼的交易有所不同：在纽约证券交易所上市的潘兴广场通天控股有限公司并不打算与环球合并，而是在环球已经计划在荷兰上市之前成为股东。据《华尔街日报》报道，知情人士表示，由于维旺迪的税收和法律影响，该公司的结构如此。</li><li>这种结构被一些人誉为金融工程的壮举，也使阿克曼摆脱了SPAC的一些常见限制。</li><li>不过，一些观察人士认为，这种结构是对现实的让步：在日益拥挤的SPAC市场中，由于该工具的规模相对较大，阿克曼无法像预期的那样完成更传统的交易。自6月4日宣布最初交易以来，Pershing Square Tontine股价已下跌18%，这表明投资者热情减弱。</li></ul>在阿克曼未能与爱彼迎和Stripe达成合并协议后，有关入股UMG的报道受到了庆祝，至少在最初是这样。但投资者和分析师很快质疑，这笔交易的复杂性是否会让监管机构满意，这将使上市的SPAC持有另一家上市公司的股份。事实证明，他们是正确的。在潘兴的声明中，阿克曼将美国证券交易委员会的疑虑作为取消该交易的主要原因。</blockquote></p><p>   <b>\"Our decision to seek an alternative initial business combination (IBC) was driven by issues raised by the SEC with several elements of the proposed transaction</b>- in particular, whether the structure of our IBC qualified under the NYSE rules.\"  Ackman explains that he hadn’t anticipated shareholders’ apprehensions about the structure of the deal and its \"potential impact on investors who are unable to hold foreign securities, who margin their shares, or who own call options on our stock.\" Of course, as we noted earlier, Ackman isn't leaving anyone \"at the altar.\"</p><p><blockquote><b>“我们决定寻求替代性初始业务合并(IBC)是由SEC对拟议交易的几个要素提出的问题推动的</b>-特别是，我们IBC的结构是否符合纽约证券交易所的规则。”阿克曼解释说，他没有预料到股东对交易结构及其“对无法持有外国证券、股票保证金或拥有我们股票看涨期权期权的投资者的潜在影响”的担忧。当然，正如我们之前指出的，阿克曼不会让任何人“站在圣坛上”。</blockquote></p><p>   <b>\"Yet, despite the inability of PSTH to consummate the UMG transaction, our counterparty was not left at the altar.</b>Pershing Square will be fulfilling PSTH’s commitment to Vivendi.\"  One rival institution appeared to question whether Ackman really believed the deal would succeed,Bloombergreports.</p><p><blockquote><b>“然而，尽管PSTH无法完成UMG交易，但我们的交易对手并没有被留在神坛上。</b>潘兴广场将履行PSTH对维旺迪的承诺。”据彭博社报道，一家竞争对手机构似乎质疑阿克曼是否真的相信这笔交易会成功。</blockquote></p><p></p><p>   <b>\"It was an ill-fated transaction doomed to fail and it did,”</b>said Bluebell Capital Partners Chief Investment Officer Giuseppe Bivona, who had launched an activist campaign against the company earlier this year and still owns Vivendi shares. \"There’s not much we know at this stage but it doesn’t seem to be just the change in entities. It’s not clear if Pershing Square is buying the full 10%.\"  As Bluebell says, it's unclear whether Ackman will actually walk away with 10% when the deal is finished. Vivendi says if the stake is less than 10%, it will sell an equivalent amount of shares to whatever is left on the table to investors ahead of the September listing. Given UMG's market dominance - it controls 40% of the American music market - it's likely the deal will draw considerable interest from institutional shareholders.</p><p><blockquote><b>“这是一笔注定要失败的命运多舛的交易，事实也的确如此。”</b>Bluebell Capital Partners首席投资官朱塞佩·比沃纳(Giuseppe Bivona)表示，他今年早些时候发起了一场反对该公司的激进运动，目前仍持有维旺迪的股票。“现阶段我们知道的不多，但似乎不仅仅是实体的变化。目前尚不清楚潘兴广场是否会购买全部10%的股份。”正如Bluebell所说，目前尚不清楚交易完成后阿克曼是否真的会拿走10%的股份。维旺迪表示，如果持股比例低于10%，它将在9月份上市前向投资者出售与剩余股份相当的股份。鉴于UMG的市场主导地位——它控制着美国音乐市场40%的份额——这笔交易很可能会引起机构股东的极大兴趣。</blockquote></p><p> Ackman's SPAC still has another 18 months to complete a deal, but given it's size and the seeming shortage of suitable targets following years of frenzied dealmaking activity which has left slim pickings even for investors with a fraction of the money Ackman has to put to work.</p><p><blockquote>阿克曼的SPAC还有18个月的时间来完成交易，但考虑到其规模以及多年疯狂的交易活动后似乎缺乏合适的目标，即使对于只有阿克曼必须投入的一小部分资金的投资者来说，选择也很少。</blockquote></p><p> He now as 18 months to strike a deal, or being forced to return capital to shareholders. Ultimately, it's an example of retail investors being left exposed, while Ackman's wealthy hedge fund investors are left with a stake in an extremely profitable business.</p><p><blockquote>他现在有18个月的时间达成交易，否则将被迫向股东返还资本。最终，这是散户投资者面临风险的一个例子，而阿克曼富有的对冲基金投资者则持有一家利润丰厚的企业的股份。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/doomed-fail-ackmans-spac-backs-out-deal-buy-10-universal-music-group\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/doomed-fail-ackmans-spac-backs-out-deal-buy-10-universal-music-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132377814","content_text":"Bill SPACman is about to have some explaining to do to an army of frustrated retail shareholders in his SPAC who have anxiously watched its post-offering premium shrink with a growing sense of trepidation.\nIn a statement to shareholders in his SPAC - Pershing Square Tontine Holdings, or PSTH -Ackman announced on Monday that a deal between his SPAC and French conglomerate Vivendi to purchase 10% of Universal Music Group(which Vivendi is planning to spin off into a separate business controlled by a conglomerate of investors later this year)has fallen apart.\nThe deal for UMG would have been the biggest SPAC deal in history, according to CNBC. However,its complexity troubled regulators, and increasingly aroused opposition from investors.Dimming demand has seen shares of PSTH fall 18% since the dealwas first announced in early June.\nBut there's a twist.Ackman isn't backing away entirely(UMG is after all an extremely profitable business, made more so by the advent of streaming services like Spotify). Instead, the wealthy investors in Pershing Square, Ackman's hedge fund firm with more than $13 billion in assets under management, will walk away with a piece of UMG when the company lists on the Amsterdam Stock Exchange with an expected valuation of €35 billion. It will be controlled a consortium of investors, including Tencent.\nAsWSJreported, the news marks an unceremonious conclusion to one of\"the biggest guessing games on Wall Street\"as investors tried to guess which target Ackman might pursue. Given his firm's unparalleled largess, options appeared limited. Which is one reason why the structure of the PSTH-UMG deal was so complex. With UMG set to list publicly, the deal's structure would have been exceedingly complex, asWSJattempts to explain:\n\nMr. Ackman’s deal was different: New York Stock Exchange-listed Pershing Square Tontine Holding Ltd. didn’t intend to merge with Universal but instead become a shareholder ahead of an already-planned listing by Universal in the Netherlands. People familiar with the matter said it was structured that way because of tax and legal implications for Vivendi, The Wall Street Journal reported.\nThe structure was hailed by some as a feat of financial engineering that also freed Mr. Ackman from some of the usual constraints of SPACs.\nSome observers, though, saw the structure as a concession to the reality that in an increasingly crowded SPAC market, and because of the relatively large size of the vehicle, Mr. Ackman wasn’t able to pull off a more conventional deal, as had been expected. In a sign of waning investor enthusiasm, Pershing Square Tontine shares have fallen 18% since the original transaction was announced on June 4.\n\nAfter Ackman failed to strike merger deals with Airbnb and Stripe, reports of the deal to take a stake in UMG were greeted with celebration, at least initially. But investors and analysts quickly questioned whether the complexity of the deal, which would leave the publicly traded SPAC with a stake in another publicly traded company, would fly with regulators. Turns out, they were correct. In Pershing's statement, Ackman cites the SEC's misgivings as the main reason for scrapping the deal.\n\n\"Our decision to seek an alternative initial business combination (IBC) was driven by issues raised by the SEC with several elements of the proposed transaction- in particular, whether the structure of our IBC qualified under the NYSE rules.\"\n\nAckman explains that he hadn’t anticipated shareholders’ apprehensions about the structure of the deal and its \"potential impact on investors who are unable to hold foreign securities, who margin their shares, or who own call options on our stock.\" Of course, as we noted earlier, Ackman isn't leaving anyone \"at the altar.\"\n\n\"Yet, despite the inability of PSTH to consummate the UMG transaction, our counterparty was not left at the altar.Pershing Square will be fulfilling PSTH’s commitment to Vivendi.\"\n\nOne rival institution appeared to question whether Ackman really believed the deal would succeed,Bloombergreports.\n\n\"It was an ill-fated transaction doomed to fail and it did,”said Bluebell Capital Partners Chief Investment Officer Giuseppe Bivona, who had launched an activist campaign against the company earlier this year and still owns Vivendi shares. \"There’s not much we know at this stage but it doesn’t seem to be just the change in entities. It’s not clear if Pershing Square is buying the full 10%.\"\n\nAs Bluebell says, it's unclear whether Ackman will actually walk away with 10% when the deal is finished. Vivendi says if the stake is less than 10%, it will sell an equivalent amount of shares to whatever is left on the table to investors ahead of the September listing. Given UMG's market dominance - it controls 40% of the American music market - it's likely the deal will draw considerable interest from institutional shareholders.\nAckman's SPAC still has another 18 months to complete a deal, but given it's size and the seeming shortage of suitable targets following years of frenzied dealmaking activity which has left slim pickings even for investors with a fraction of the money Ackman has to put to work.\nHe now as 18 months to strike a deal, or being forced to return capital to shareholders. Ultimately, it's an example of retail investors being left exposed, while Ackman's wealthy hedge fund investors are left with a stake in an extremely profitable business.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171036507,"gmtCreate":1626694924309,"gmtModify":1633924886852,"author":{"id":"3571303297635750","authorId":"3571303297635750","name":"562e17ba","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571303297635750","idStr":"3571303297635750"},"themes":[],"htmlText":"Wow such a great article","listText":"Wow such a great article","text":"Wow such a great article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171036507","repostId":"1111084715","repostType":4,"isVote":1,"tweetType":1,"viewCount":602,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171036913,"gmtCreate":1626694894932,"gmtModify":1633924887192,"author":{"id":"3571303297635750","authorId":"3571303297635750","name":"562e17ba","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571303297635750","idStr":"3571303297635750"},"themes":[],"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171036913","repostId":"1135910714","repostType":4,"repost":{"id":"1135910714","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626692784,"share":"https://www.laohu8.com/m/news/1135910714?lang=zh_CN&edition=full","pubTime":"2021-07-19 19:06","market":"us","language":"en","title":"Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135910714","media":"Tiger Newspress","summary":"The morning sell-off in stock futures is accelerating.\nPershing Square Tontine Holdings, Tesla Motor","content":"<p><ul>  <li>The morning sell-off in stock futures is accelerating.</li>  <li>Pershing Square Tontine Holdings, Tesla Motor, XPeng Inc. made the biggest moves in premarket trading.</li>  <li>Oil extended losses, with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.</li> </ul> (July&nbsp;19)&nbsp;U.S. stock futures, oil prices and government bond yields slid, amid anxiety that the spread of the Delta coronavirus variant would hold back the global economy.</p><p><blockquote><ul><li>股指期货早盘抛售加速。</li><li>潘兴广场Tontine Holdings、特斯拉汽车、小鹏汽车在盘前交易中涨幅最大。</li><li>石油扩大跌幅，WTI原油期货下跌3.8%，至70美元/桶以下，此前昨天的欧佩克+协议被许多人视为看涨，但CTA今天上午正在进行批发清算。</li></ul>（七月十九日）美国。由于担心德尔塔新冠病毒变异毒株蔓延将拖累全球经济，股票期货、油价和政府债券收益率下滑。</blockquote></p><p> At 8:09 a.m. ET,Futures for the S&amp;P 500 fell 1.11%, signaling opening losses for the broad stock-market gauge after itsnapped a three-week winning streak Friday. Contracts for the Dow Jones Industrial Average dropped 1.35%. Futures on the technology-focused <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>-100 fell 0.89%.</p><p><blockquote>美国东部时间上午8:09，标普500期货下跌1.11%，标志着股市大盘在周五连续三周上涨后开盘下跌。道琼斯工业平均指数合约下跌1.35%。以技术为中心的未来<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>-100跌0.89%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/78212dd3d7e6d2af95d4495fa43cf583\" tg-width=\"1242\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Surging cases of the coronavirusin many parts of the world, including highly-vaccinated countries such as the U.K., have prompted investors to dial down their expectations of economic growth in the coming months. Some also are concerned that a steep rise in prices will pinch consumption and prompt central banks to withdraw stimulus, creating an environment of lower growth and higher inflation in which stocks tend to struggle.</p><p><blockquote>世界许多地区的冠状病毒病例激增，包括英国等疫苗接种率高的国家，促使投资者降低了对未来几个月经济增长的预期。一些人还担心，物价大幅上涨将抑制消费，并促使央行撤回刺激措施，从而创造一个增长放缓、通胀上升的环境，股市往往会陷入困境。</blockquote></p><p> “What you’re seeing is a sense that the consumer is starting to be affected quite significantly” by the jump in prices, said Sebastien Galy, senior macro strategist at Nordea Asset Management.</p><p><blockquote>北欧资产管理公司高级宏观策略师塞巴斯蒂安·加利表示，“你看到的是，消费者开始受到价格上涨的重大影响”。</blockquote></p><p> Business reopenings, rising vaccination rates and government pandemic aid have helped propel rapid gains in consumer spending—the economy’s main driver. But surveys show that inflation, which accelerated to a 13-year high in the U.S. in June, is starting toknock consumers’ confidencein their ability to keep spending, Mr. Galy said.</p><p><blockquote>商业重新开业、疫苗接种率上升和政府的流行病援助帮助推动了消费者支出的快速增长——经济的主要驱动力。但加利表示，调查显示，美国6月份通胀加速至13年来的新高，开始打击消费者对其继续支出能力的信心。</blockquote></p><p> Airlines and oil-and-gas companies were among the worst performers ahead of the bell in <a href=\"https://laohu8.com/S/NWY\">New York</a>.<a href=\"https://laohu8.com/S/OXY\">Occidental</a> Petroleumlost 4.1%, <a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a> 3.6%,<a href=\"https://laohu8.com/S/AAL\">American Airlines</a> Group2.3% and $Delta <a href=\"https://laohu8.com/S/AIRI\">Air</a> Lines(DAL)$ 2.2%.</p><p><blockquote>航空公司和石油天然气公司是收盘前表现最差的公司之一<a href=\"https://laohu8.com/S/NWY\">纽约</a>.<a href=\"https://laohu8.com/S/OXY\">西方</a>石油损失4.1%，<a href=\"https://laohu8.com/S/COP\">康菲</a>3.6%,<a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>集团2.3%和$Delta<a href=\"https://laohu8.com/S/AIRI\">空气</a>线(DAL)$2.2%。</blockquote></p><p> One bright spot wasFive9,which jumped 8.3% on news thatZoom Video Communicationsplans to buy the provider of cloud-based customer-service software in a deal valuing the firm at $14.7 billion. <a href=\"https://laohu8.com/S/ZM\">Zoom</a> shares slipped 2% in premarket trading.</p><p><blockquote>Five9是一个亮点，有消息称Zoom Video Communications计划收购这家基于云的客户服务软件提供商，该公司估值为147亿美元，该公司股价上涨8.3%。<a href=\"https://laohu8.com/S/ZM\">Zoom</a>股价在盘前交易中下跌2%。</blockquote></p><p> Worries about the economic effects of the virus were evident in a broad retreat in global markets. The regional Stoxx Europe 600 slid 1.9%, led lower by shares of economically sensitive travel, leisure and commodities companies.</p><p><blockquote>对病毒经济影响的担忧在全球市场的广泛回落中显而易见。欧洲斯托克600指数下跌1.9%，对经济敏感的旅游、休闲和大宗商品公司的股价领跌。</blockquote></p><p> Potential beneficiaries of a prolonged pandemic including food-delivery companiesHelloFresh,Deliverooand <a href=\"https://laohu8.com/S/JE\">Just</a> Eat Takeaway.com ticked higher.</p><p><blockquote>长期大流行的潜在受益者包括食品配送公司HelloFresh、Deliveroo和<a href=\"https://laohu8.com/S/JE\">刚刚</a>Eat Takeaway.com走高。</blockquote></p><p> Among other stocks, Paris-listedVivendifell 1.2%. <a href=\"https://laohu8.com/S/PGLC\">Pershing</a> <a href=\"https://laohu8.com/S/SQ\">Square</a> Tontine, a blank-check company led by hedge-fund manager Bill Ackman, said it had dropped plans topurchase a 10% stakein <a href=\"https://laohu8.com/S/UVV\">Universal</a> Music Group. Mr. Ackman’s <a href=\"https://laohu8.com/S/PGLC\">Pershing</a> <a href=\"https://laohu8.com/S/SQ\">Square</a> said it would take a large stake in <a href=\"https://laohu8.com/S/UVV\">Universal</a>, which is majority owned by Vivendi, instead.</p><p><blockquote>其他股票中，巴黎上市公司Vivendi下跌1.2%。<a href=\"https://laohu8.com/S/PGLC\">潘兴</a><a href=\"https://laohu8.com/S/SQ\">平方</a>由对冲基金经理比尔·阿克曼(Bill Ackman)领导的空白支票公司Tontine表示，已放弃购买10%股份的计划<a href=\"https://laohu8.com/S/UVV\">普遍的</a>音乐团体。阿克曼先生的<a href=\"https://laohu8.com/S/PGLC\">潘兴</a><a href=\"https://laohu8.com/S/SQ\">平方</a>表示将持有大量股份<a href=\"https://laohu8.com/S/UVV\">普遍的</a>相反，维旺迪拥有多数股权。</blockquote></p><p> Italian luxury fashion house Ermenegildo Zegna will go public on the <a href=\"https://laohu8.com/S/NYRT\">New York</a> Stock Exchange later this year as part of a tie-up agreement with special-purpose acquisition corporation Investindustrial Acquisition. Shares of the SPAC, whose chairman is former UBS CEO Sergio Ermotti, edged down before the bell in <a href=\"https://laohu8.com/S/NGD\">New</a> York.</p><p><blockquote>意大利奢侈时装公司Ermenegildo Zegna将于<a href=\"https://laohu8.com/S/NYRT\">纽约</a>作为与特殊目的收购公司Investindustrial Acquisition合作协议的一部分，今年晚些时候在证券交易所上市。SPAC的董事长是瑞银前首席执行官塞尔吉奥·埃尔莫蒂(Sergio Ermotti)，其股价在盘前小幅下跌<a href=\"https://laohu8.com/S/NGD\">新的</a>约克。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/PSTH.U\">Pershing Square Tontine Holdings</a>:&nbsp;</b>Billionaire investor William Ackman’s <a href=\"https://laohu8.com/S/PSTH\">Pershing Square Tontine Holdings</a> has dropped a deal to buy 10% of Vivendi’s Universal Music Group (UMG), the label that is home to musicians such as Taylor Swift.</p><p><blockquote><b><a href=\"https://laohu8.com/S/PSTH.U\">潘兴广场通天控股</a>: </b>亿万富翁投资者威廉·阿克曼的<a href=\"https://laohu8.com/S/PSTH\">潘兴广场通天控股</a>放弃了收购维旺迪环球音乐集团(UMG)10%股份的交易，该公司是泰勒·斯威夫特(Taylor Swift)等音乐家的大本营。</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> :&nbsp;</b>On Saturday, Elon Musk's Tesla Inc launched its Full Self-Driving (FSD) subscription for its driver-assistance software package for $199 per month, Reuters reports. Tesla offered the Full Self-Driving package for a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time payment of $10,000. The FSD feature would cost $99 a month for those who previously bought the Enhanced Autopilot package. According to Tesla, vehicle owners can cancel their monthly FSD subscription at any time. Tesla fell 2.28% in the premarket&nbsp;trading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>: </b>据路透社报道，周六，Elon Musk旗下的特斯拉公司推出了其驾驶员辅助软件包的全自动驾驶(FSD)订阅，每月价格为199美元。特斯拉提供全自动驾驶套件<a href=\"https://laohu8.com/S/AONE.U\">一</a>-10,000美元的定期付款。对于那些之前购买了增强型Autopilot套件的人来说，FSD功能每月的费用为99美元。据特斯拉称，车主可以随时取消每月的FSD订阅。特斯拉盘前交易中下跌2.28%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e2886cd35d2ac9d0ed7cf4d9056c678a\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b><a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>:&nbsp;</b>Xpeng Undercuts Tesla With P5 Sedan Priced Starting $24.7K, EV Maker Reports High Demand As It Begins Taking Pre-Order.Xpeng fell 2.13% in the premarket&nbsp;trading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>: </b>小鹏汽车P5轿车起价为2.47万美元，低于特斯拉，电动汽车制造商报告称，随着开始接受预订，需求很高。小鹏汽车在盘前交易中下跌2.13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bbc962c414c77edbe87597c447261cac\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b><a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a>: </b>Johnson &amp; Johnson (JNJ.N) is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, according to seven people familiar with the matter.J&amp;J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer. The plaintiffs include women suffering from ovarian cancer and others battling mesothelioma.</p><p><blockquote><b><a href=\"https://laohu8.com/S/JNJ\">强生公司</a>：</b>强生公司（JNJ。据七位知情人士透露，N）正在探索一项计划，将广泛的婴儿爽身粉诉讼的责任转移到一家新成立的企业中，然后该企业将寻求破产保护。强生面临数万名原告的法律诉讼指控其婴儿爽身粉和其他滑石粉产品含有石棉并导致癌症。原告包括患有卵巢癌的女性和其他与间皮瘤作斗争的女性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ea35138cf94432dfdcd08c1528620d42\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In Asia, technology giants <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> and Tencent weighed on Hong Kong’s Hang Seng Index, which had lost 1.8% by the close of trading. The losses came after the Biden administration on Friday warned <a href=\"https://laohu8.com/S/AFG\">American</a> companies about the increasingrisks of operating in the financial hub.</p><p><blockquote>在亚洲，科技巨头<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>腾讯控股令香港恒生指数承压，截至收盘，香港股市已下跌1.8%。这些损失是在拜登政府周五警告之后发生的<a href=\"https://laohu8.com/S/AFG\">美国的</a>公司担心在金融中心运营的风险不断增加。</blockquote></p><p> Japan’s Nikkei 225 dropped 1.3%. More athletes and staff members attending theTokyo Olympics have tested positive, while cases are surging in Indonesia. Sydney, Australia’s most populous city, is under lockdown because of a delta outbreak.</p><p><blockquote>日本日经225指数下跌1.3%。越来越多参加东京奥运会的运动员和工作人员检测呈阳性，而印度尼西亚的病例也在激增。澳大利亚人口最多的城市悉尼因三角洲疫情而处于封锁状态。</blockquote></p><p> David Chao, a market strategist at <a href=\"https://laohu8.com/S/IVZ\">Invesco</a>, said the spread of the delta variant across Asia, coupled with low vaccination rates and expectations of additional social-distancing measures, has “taken wind out of the sail for many investors expecting an economic rebound” in the region.</p><p><blockquote>David Chao，市场策略师<a href=\"https://laohu8.com/S/IVZ\">景顺</a>表示，德尔塔变异毒株在亚洲的蔓延，加上疫苗接种率低以及对额外社交距离措施的预期，“让许多期待该地区经济反弹的投资者失去了动力”。</blockquote></p><p> Mr. Chao said he expected investors to continue to pull funds out of Asian stocks and shift them to shares in developed markets with high inoculation rates, such as the U.S. and U.K.</p><p><blockquote>赵先生表示，他预计投资者将继续将资金从亚洲股市撤出，转向美国和英国等接种率高的发达市场的股票。</blockquote></p><p> <b>In FX, </b>the pound slumped to a three-month low and the FTSE 100 tumbled 1.9% after the U.K. lifted remaining virus curbs in England even as virus cases increased the most in the world, signaling the challenge nations face to fully reopen their economies. Australia’s dollar dropped to a seven-month low after state governments tightened and extended lockdown measures to contain the latest outbreak. The yen strengthened versus all of its Group-of-10 peers. Investors are seeking protection in currency options; data from the Depository Trust &amp; Clearing Corporation show that volumes are running 10% higher than recent averages overall, with demand for Aussie and yuan exposure running at almost double the averages while the pound is almost at triple.</p><p><blockquote><b>在FX中，</b>尽管病毒病例增幅居全球之首，但英国取消了英格兰剩余的病毒限制措施，英镑跌至三个月低点，富时100指数下跌1.9%，这表明各国在全面重新开放经济方面面临挑战。在州政府收紧并延长封锁措施以遏制最新疫情后，澳元跌至七个月低点。日元兑所有10国集团货币走强。投资者正在寻求货币期权的保护；存管信托与清算公司的数据显示，交易量总体上比近期平均水平高出10%，对澳元和人民币敞口的需求几乎是平均水平的两倍，而英镑几乎是平均水平的三倍。</blockquote></p><p> <b>Oil extended losses, </b>with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.</p><p><blockquote><b>石油扩大损失，</b>在昨天的OPEC+协议之后，WTI原油期货下跌3.8%，至70美元/桶以下，许多人认为这是看涨的，但CTA今天上午正在进行批发清算。</blockquote></p><p> Gold, a perceived safe haven asset, was also down sliding to just above $1,800. On Sunday OPEC and its allies struck a deal that allows for monthly supply hikes of 400k b/d, putting the group back in control of the crude market. Oil refiners in Asia stayed on the sidelines awaiting price cuts after the OPEC+ deal.</p><p><blockquote>被视为避险资产的黄金也下跌至略高于1,800美元。周日，石油输出国组织及其盟友达成协议，允许每月增加40万桶/日的供应量，使该组织重新控制原油市场。欧佩克+达成协议后，亚洲炼油商观望等待降价。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-19 19:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><ul>  <li>The morning sell-off in stock futures is accelerating.</li>  <li>Pershing Square Tontine Holdings, Tesla Motor, XPeng Inc. made the biggest moves in premarket trading.</li>  <li>Oil extended losses, with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.</li> </ul> (July&nbsp;19)&nbsp;U.S. stock futures, oil prices and government bond yields slid, amid anxiety that the spread of the Delta coronavirus variant would hold back the global economy.</p><p><blockquote><ul><li>股指期货早盘抛售加速。</li><li>潘兴广场Tontine Holdings、特斯拉汽车、小鹏汽车在盘前交易中涨幅最大。</li><li>石油扩大跌幅，WTI原油期货下跌3.8%，至70美元/桶以下，此前昨天的欧佩克+协议被许多人视为看涨，但CTA今天上午正在进行批发清算。</li></ul>（七月十九日）美国。由于担心德尔塔新冠病毒变异毒株蔓延将拖累全球经济，股票期货、油价和政府债券收益率下滑。</blockquote></p><p> At 8:09 a.m. ET,Futures for the S&amp;P 500 fell 1.11%, signaling opening losses for the broad stock-market gauge after itsnapped a three-week winning streak Friday. Contracts for the Dow Jones Industrial Average dropped 1.35%. Futures on the technology-focused <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>-100 fell 0.89%.</p><p><blockquote>美国东部时间上午8:09，标普500期货下跌1.11%，标志着股市大盘在周五连续三周上涨后开盘下跌。道琼斯工业平均指数合约下跌1.35%。以技术为中心的未来<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>-100跌0.89%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/78212dd3d7e6d2af95d4495fa43cf583\" tg-width=\"1242\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Surging cases of the coronavirusin many parts of the world, including highly-vaccinated countries such as the U.K., have prompted investors to dial down their expectations of economic growth in the coming months. Some also are concerned that a steep rise in prices will pinch consumption and prompt central banks to withdraw stimulus, creating an environment of lower growth and higher inflation in which stocks tend to struggle.</p><p><blockquote>世界许多地区的冠状病毒病例激增，包括英国等疫苗接种率高的国家，促使投资者降低了对未来几个月经济增长的预期。一些人还担心，物价大幅上涨将抑制消费，并促使央行撤回刺激措施，从而创造一个增长放缓、通胀上升的环境，股市往往会陷入困境。</blockquote></p><p> “What you’re seeing is a sense that the consumer is starting to be affected quite significantly” by the jump in prices, said Sebastien Galy, senior macro strategist at Nordea Asset Management.</p><p><blockquote>北欧资产管理公司高级宏观策略师塞巴斯蒂安·加利表示，“你看到的是，消费者开始受到价格上涨的重大影响”。</blockquote></p><p> Business reopenings, rising vaccination rates and government pandemic aid have helped propel rapid gains in consumer spending—the economy’s main driver. But surveys show that inflation, which accelerated to a 13-year high in the U.S. in June, is starting toknock consumers’ confidencein their ability to keep spending, Mr. Galy said.</p><p><blockquote>商业重新开业、疫苗接种率上升和政府的流行病援助帮助推动了消费者支出的快速增长——经济的主要驱动力。但加利表示，调查显示，美国6月份通胀加速至13年来的新高，开始打击消费者对其继续支出能力的信心。</blockquote></p><p> Airlines and oil-and-gas companies were among the worst performers ahead of the bell in <a href=\"https://laohu8.com/S/NWY\">New York</a>.<a href=\"https://laohu8.com/S/OXY\">Occidental</a> Petroleumlost 4.1%, <a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a> 3.6%,<a href=\"https://laohu8.com/S/AAL\">American Airlines</a> Group2.3% and $Delta <a href=\"https://laohu8.com/S/AIRI\">Air</a> Lines(DAL)$ 2.2%.</p><p><blockquote>航空公司和石油天然气公司是收盘前表现最差的公司之一<a href=\"https://laohu8.com/S/NWY\">纽约</a>.<a href=\"https://laohu8.com/S/OXY\">西方</a>石油损失4.1%，<a href=\"https://laohu8.com/S/COP\">康菲</a>3.6%,<a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>集团2.3%和$Delta<a href=\"https://laohu8.com/S/AIRI\">空气</a>线(DAL)$2.2%。</blockquote></p><p> One bright spot wasFive9,which jumped 8.3% on news thatZoom Video Communicationsplans to buy the provider of cloud-based customer-service software in a deal valuing the firm at $14.7 billion. <a href=\"https://laohu8.com/S/ZM\">Zoom</a> shares slipped 2% in premarket trading.</p><p><blockquote>Five9是一个亮点，有消息称Zoom Video Communications计划收购这家基于云的客户服务软件提供商，该公司估值为147亿美元，该公司股价上涨8.3%。<a href=\"https://laohu8.com/S/ZM\">Zoom</a>股价在盘前交易中下跌2%。</blockquote></p><p> Worries about the economic effects of the virus were evident in a broad retreat in global markets. The regional Stoxx Europe 600 slid 1.9%, led lower by shares of economically sensitive travel, leisure and commodities companies.</p><p><blockquote>对病毒经济影响的担忧在全球市场的广泛回落中显而易见。欧洲斯托克600指数下跌1.9%，对经济敏感的旅游、休闲和大宗商品公司的股价领跌。</blockquote></p><p> Potential beneficiaries of a prolonged pandemic including food-delivery companiesHelloFresh,Deliverooand <a href=\"https://laohu8.com/S/JE\">Just</a> Eat Takeaway.com ticked higher.</p><p><blockquote>长期大流行的潜在受益者包括食品配送公司HelloFresh、Deliveroo和<a href=\"https://laohu8.com/S/JE\">刚刚</a>Eat Takeaway.com走高。</blockquote></p><p> Among other stocks, Paris-listedVivendifell 1.2%. <a href=\"https://laohu8.com/S/PGLC\">Pershing</a> <a href=\"https://laohu8.com/S/SQ\">Square</a> Tontine, a blank-check company led by hedge-fund manager Bill Ackman, said it had dropped plans topurchase a 10% stakein <a href=\"https://laohu8.com/S/UVV\">Universal</a> Music Group. Mr. Ackman’s <a href=\"https://laohu8.com/S/PGLC\">Pershing</a> <a href=\"https://laohu8.com/S/SQ\">Square</a> said it would take a large stake in <a href=\"https://laohu8.com/S/UVV\">Universal</a>, which is majority owned by Vivendi, instead.</p><p><blockquote>其他股票中，巴黎上市公司Vivendi下跌1.2%。<a href=\"https://laohu8.com/S/PGLC\">潘兴</a><a href=\"https://laohu8.com/S/SQ\">平方</a>由对冲基金经理比尔·阿克曼(Bill Ackman)领导的空白支票公司Tontine表示，已放弃购买10%股份的计划<a href=\"https://laohu8.com/S/UVV\">普遍的</a>音乐团体。阿克曼先生的<a href=\"https://laohu8.com/S/PGLC\">潘兴</a><a href=\"https://laohu8.com/S/SQ\">平方</a>表示将持有大量股份<a href=\"https://laohu8.com/S/UVV\">普遍的</a>相反，维旺迪拥有多数股权。</blockquote></p><p> Italian luxury fashion house Ermenegildo Zegna will go public on the <a href=\"https://laohu8.com/S/NYRT\">New York</a> Stock Exchange later this year as part of a tie-up agreement with special-purpose acquisition corporation Investindustrial Acquisition. Shares of the SPAC, whose chairman is former UBS CEO Sergio Ermotti, edged down before the bell in <a href=\"https://laohu8.com/S/NGD\">New</a> York.</p><p><blockquote>意大利奢侈时装公司Ermenegildo Zegna将于<a href=\"https://laohu8.com/S/NYRT\">纽约</a>作为与特殊目的收购公司Investindustrial Acquisition合作协议的一部分，今年晚些时候在证券交易所上市。SPAC的董事长是瑞银前首席执行官塞尔吉奥·埃尔莫蒂(Sergio Ermotti)，其股价在盘前小幅下跌<a href=\"https://laohu8.com/S/NGD\">新的</a>约克。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/PSTH.U\">Pershing Square Tontine Holdings</a>:&nbsp;</b>Billionaire investor William Ackman’s <a href=\"https://laohu8.com/S/PSTH\">Pershing Square Tontine Holdings</a> has dropped a deal to buy 10% of Vivendi’s Universal Music Group (UMG), the label that is home to musicians such as Taylor Swift.</p><p><blockquote><b><a href=\"https://laohu8.com/S/PSTH.U\">潘兴广场通天控股</a>: </b>亿万富翁投资者威廉·阿克曼的<a href=\"https://laohu8.com/S/PSTH\">潘兴广场通天控股</a>放弃了收购维旺迪环球音乐集团(UMG)10%股份的交易，该公司是泰勒·斯威夫特(Taylor Swift)等音乐家的大本营。</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> :&nbsp;</b>On Saturday, Elon Musk's Tesla Inc launched its Full Self-Driving (FSD) subscription for its driver-assistance software package for $199 per month, Reuters reports. Tesla offered the Full Self-Driving package for a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time payment of $10,000. The FSD feature would cost $99 a month for those who previously bought the Enhanced Autopilot package. According to Tesla, vehicle owners can cancel their monthly FSD subscription at any time. Tesla fell 2.28% in the premarket&nbsp;trading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>: </b>据路透社报道，周六，Elon Musk旗下的特斯拉公司推出了其驾驶员辅助软件包的全自动驾驶(FSD)订阅，每月价格为199美元。特斯拉提供全自动驾驶套件<a href=\"https://laohu8.com/S/AONE.U\">一</a>-10,000美元的定期付款。对于那些之前购买了增强型Autopilot套件的人来说，FSD功能每月的费用为99美元。据特斯拉称，车主可以随时取消每月的FSD订阅。特斯拉盘前交易中下跌2.28%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e2886cd35d2ac9d0ed7cf4d9056c678a\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b><a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>:&nbsp;</b>Xpeng Undercuts Tesla With P5 Sedan Priced Starting $24.7K, EV Maker Reports High Demand As It Begins Taking Pre-Order.Xpeng fell 2.13% in the premarket&nbsp;trading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>: </b>小鹏汽车P5轿车起价为2.47万美元，低于特斯拉，电动汽车制造商报告称，随着开始接受预订，需求很高。小鹏汽车在盘前交易中下跌2.13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bbc962c414c77edbe87597c447261cac\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b><a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a>: </b>Johnson &amp; Johnson (JNJ.N) is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, according to seven people familiar with the matter.J&amp;J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer. The plaintiffs include women suffering from ovarian cancer and others battling mesothelioma.</p><p><blockquote><b><a href=\"https://laohu8.com/S/JNJ\">强生公司</a>：</b>强生公司（JNJ。据七位知情人士透露，N）正在探索一项计划，将广泛的婴儿爽身粉诉讼的责任转移到一家新成立的企业中，然后该企业将寻求破产保护。强生面临数万名原告的法律诉讼指控其婴儿爽身粉和其他滑石粉产品含有石棉并导致癌症。原告包括患有卵巢癌的女性和其他与间皮瘤作斗争的女性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ea35138cf94432dfdcd08c1528620d42\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In Asia, technology giants <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> and Tencent weighed on Hong Kong’s Hang Seng Index, which had lost 1.8% by the close of trading. The losses came after the Biden administration on Friday warned <a href=\"https://laohu8.com/S/AFG\">American</a> companies about the increasingrisks of operating in the financial hub.</p><p><blockquote>在亚洲，科技巨头<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>腾讯控股令香港恒生指数承压，截至收盘，香港股市已下跌1.8%。这些损失是在拜登政府周五警告之后发生的<a href=\"https://laohu8.com/S/AFG\">美国的</a>公司担心在金融中心运营的风险不断增加。</blockquote></p><p> Japan’s Nikkei 225 dropped 1.3%. More athletes and staff members attending theTokyo Olympics have tested positive, while cases are surging in Indonesia. Sydney, Australia’s most populous city, is under lockdown because of a delta outbreak.</p><p><blockquote>日本日经225指数下跌1.3%。越来越多参加东京奥运会的运动员和工作人员检测呈阳性，而印度尼西亚的病例也在激增。澳大利亚人口最多的城市悉尼因三角洲疫情而处于封锁状态。</blockquote></p><p> David Chao, a market strategist at <a href=\"https://laohu8.com/S/IVZ\">Invesco</a>, said the spread of the delta variant across Asia, coupled with low vaccination rates and expectations of additional social-distancing measures, has “taken wind out of the sail for many investors expecting an economic rebound” in the region.</p><p><blockquote>David Chao，市场策略师<a href=\"https://laohu8.com/S/IVZ\">景顺</a>表示，德尔塔变异毒株在亚洲的蔓延，加上疫苗接种率低以及对额外社交距离措施的预期，“让许多期待该地区经济反弹的投资者失去了动力”。</blockquote></p><p> Mr. Chao said he expected investors to continue to pull funds out of Asian stocks and shift them to shares in developed markets with high inoculation rates, such as the U.S. and U.K.</p><p><blockquote>赵先生表示，他预计投资者将继续将资金从亚洲股市撤出，转向美国和英国等接种率高的发达市场的股票。</blockquote></p><p> <b>In FX, </b>the pound slumped to a three-month low and the FTSE 100 tumbled 1.9% after the U.K. lifted remaining virus curbs in England even as virus cases increased the most in the world, signaling the challenge nations face to fully reopen their economies. Australia’s dollar dropped to a seven-month low after state governments tightened and extended lockdown measures to contain the latest outbreak. The yen strengthened versus all of its Group-of-10 peers. Investors are seeking protection in currency options; data from the Depository Trust &amp; Clearing Corporation show that volumes are running 10% higher than recent averages overall, with demand for Aussie and yuan exposure running at almost double the averages while the pound is almost at triple.</p><p><blockquote><b>在FX中，</b>尽管病毒病例增幅居全球之首，但英国取消了英格兰剩余的病毒限制措施，英镑跌至三个月低点，富时100指数下跌1.9%，这表明各国在全面重新开放经济方面面临挑战。在州政府收紧并延长封锁措施以遏制最新疫情后，澳元跌至七个月低点。日元兑所有10国集团货币走强。投资者正在寻求货币期权的保护；存管信托与清算公司的数据显示，交易量总体上比近期平均水平高出10%，对澳元和人民币敞口的需求几乎是平均水平的两倍，而英镑几乎是平均水平的三倍。</blockquote></p><p> <b>Oil extended losses, </b>with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.</p><p><blockquote><b>石油扩大损失，</b>在昨天的OPEC+协议之后，WTI原油期货下跌3.8%，至70美元/桶以下，许多人认为这是看涨的，但CTA今天上午正在进行批发清算。</blockquote></p><p> Gold, a perceived safe haven asset, was also down sliding to just above $1,800. On Sunday OPEC and its allies struck a deal that allows for monthly supply hikes of 400k b/d, putting the group back in control of the crude market. Oil refiners in Asia stayed on the sidelines awaiting price cuts after the OPEC+ deal.</p><p><blockquote>被视为避险资产的黄金也下跌至略高于1,800美元。周日，石油输出国组织及其盟友达成协议，允许每月增加40万桶/日的供应量，使该组织重新控制原油市场。欧佩克+达成协议后，亚洲炼油商观望等待降价。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135910714","content_text":"The morning sell-off in stock futures is accelerating.\nPershing Square Tontine Holdings, Tesla Motor, XPeng Inc. made the biggest moves in premarket trading.\nOil extended losses, with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.\n\n(July 19) U.S. stock futures, oil prices and government bond yields slid, amid anxiety that the spread of the Delta coronavirus variant would hold back the global economy.\nAt 8:09 a.m. ET,Futures for the S&P 500 fell 1.11%, signaling opening losses for the broad stock-market gauge after itsnapped a three-week winning streak Friday. Contracts for the Dow Jones Industrial Average dropped 1.35%. Futures on the technology-focused Nasdaq-100 fell 0.89%.\n\nSurging cases of the coronavirusin many parts of the world, including highly-vaccinated countries such as the U.K., have prompted investors to dial down their expectations of economic growth in the coming months. Some also are concerned that a steep rise in prices will pinch consumption and prompt central banks to withdraw stimulus, creating an environment of lower growth and higher inflation in which stocks tend to struggle.\n“What you’re seeing is a sense that the consumer is starting to be affected quite significantly” by the jump in prices, said Sebastien Galy, senior macro strategist at Nordea Asset Management.\nBusiness reopenings, rising vaccination rates and government pandemic aid have helped propel rapid gains in consumer spending—the economy’s main driver. But surveys show that inflation, which accelerated to a 13-year high in the U.S. in June, is starting toknock consumers’ confidencein their ability to keep spending, Mr. Galy said.\nAirlines and oil-and-gas companies were among the worst performers ahead of the bell in New York.Occidental Petroleumlost 4.1%, ConocoPhillips 3.6%,American Airlines Group2.3% and $Delta Air Lines(DAL)$ 2.2%.\nOne bright spot wasFive9,which jumped 8.3% on news thatZoom Video Communicationsplans to buy the provider of cloud-based customer-service software in a deal valuing the firm at $14.7 billion. Zoom shares slipped 2% in premarket trading.\nWorries about the economic effects of the virus were evident in a broad retreat in global markets. The regional Stoxx Europe 600 slid 1.9%, led lower by shares of economically sensitive travel, leisure and commodities companies.\nPotential beneficiaries of a prolonged pandemic including food-delivery companiesHelloFresh,Deliverooand Just Eat Takeaway.com ticked higher.\nAmong other stocks, Paris-listedVivendifell 1.2%. Pershing Square Tontine, a blank-check company led by hedge-fund manager Bill Ackman, said it had dropped plans topurchase a 10% stakein Universal Music Group. Mr. Ackman’s Pershing Square said it would take a large stake in Universal, which is majority owned by Vivendi, instead.\nItalian luxury fashion house Ermenegildo Zegna will go public on the New York Stock Exchange later this year as part of a tie-up agreement with special-purpose acquisition corporation Investindustrial Acquisition. Shares of the SPAC, whose chairman is former UBS CEO Sergio Ermotti, edged down before the bell in New York.\nStocks making the biggest moves premarket:\nPershing Square Tontine Holdings: Billionaire investor William Ackman’s Pershing Square Tontine Holdings has dropped a deal to buy 10% of Vivendi’s Universal Music Group (UMG), the label that is home to musicians such as Taylor Swift.\nTesla Motors : On Saturday, Elon Musk's Tesla Inc launched its Full Self-Driving (FSD) subscription for its driver-assistance software package for $199 per month, Reuters reports. Tesla offered the Full Self-Driving package for a one-time payment of $10,000. The FSD feature would cost $99 a month for those who previously bought the Enhanced Autopilot package. According to Tesla, vehicle owners can cancel their monthly FSD subscription at any time. Tesla fell 2.28% in the premarket trading.\n\nXPeng Inc.: Xpeng Undercuts Tesla With P5 Sedan Priced Starting $24.7K, EV Maker Reports High Demand As It Begins Taking Pre-Order.Xpeng fell 2.13% in the premarket trading.\n\nJohnson & Johnson: Johnson & Johnson (JNJ.N) is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, according to seven people familiar with the matter.J&J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer. The plaintiffs include women suffering from ovarian cancer and others battling mesothelioma.\n\nIn Asia, technology giants Alibaba and Tencent weighed on Hong Kong’s Hang Seng Index, which had lost 1.8% by the close of trading. The losses came after the Biden administration on Friday warned American companies about the increasingrisks of operating in the financial hub.\nJapan’s Nikkei 225 dropped 1.3%. More athletes and staff members attending theTokyo Olympics have tested positive, while cases are surging in Indonesia. Sydney, Australia’s most populous city, is under lockdown because of a delta outbreak.\nDavid Chao, a market strategist at Invesco, said the spread of the delta variant across Asia, coupled with low vaccination rates and expectations of additional social-distancing measures, has “taken wind out of the sail for many investors expecting an economic rebound” in the region.\nMr. Chao said he expected investors to continue to pull funds out of Asian stocks and shift them to shares in developed markets with high inoculation rates, such as the U.S. and U.K.\nIn FX, the pound slumped to a three-month low and the FTSE 100 tumbled 1.9% after the U.K. lifted remaining virus curbs in England even as virus cases increased the most in the world, signaling the challenge nations face to fully reopen their economies. Australia’s dollar dropped to a seven-month low after state governments tightened and extended lockdown measures to contain the latest outbreak. The yen strengthened versus all of its Group-of-10 peers. Investors are seeking protection in currency options; data from the Depository Trust & Clearing Corporation show that volumes are running 10% higher than recent averages overall, with demand for Aussie and yuan exposure running at almost double the averages while the pound is almost at triple.\nOil extended losses, with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.\nGold, a perceived safe haven asset, was also down sliding to just above $1,800. On Sunday OPEC and its allies struck a deal that allows for monthly supply hikes of 400k b/d, putting the group back in control of the crude market. Oil refiners in Asia stayed on the sidelines awaiting price cuts after the OPEC+ deal.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":310,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173236687,"gmtCreate":1626661377749,"gmtModify":1633925143537,"author":{"id":"3571303297635750","authorId":"3571303297635750","name":"562e17ba","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571303297635750","idStr":"3571303297635750"},"themes":[],"htmlText":"Like. Thank you.","listText":"Like. Thank you.","text":"Like. Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173236687","repostId":"1111084715","repostType":4,"isVote":1,"tweetType":1,"viewCount":397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179625772,"gmtCreate":1626522034496,"gmtModify":1633926069307,"author":{"id":"3571303297635750","authorId":"3571303297635750","name":"562e17ba","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571303297635750","idStr":"3571303297635750"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179625772","repostId":"146135203","repostType":1,"repost":{"id":146135203,"gmtCreate":1626057999999,"gmtModify":1631899069481,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"36984908995200","idStr":"36984908995200"},"themes":[],"title":"【老虎财报季】写财报分析，赢取老虎限量商务套装","htmlText":"参与《老虎财报季》赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。Q2财报季即将拉开序幕，美国六大银行将在本周率先公布财报，随后将迎来大家最关心的科技股财报。小虎君想邀请虎友们，分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，就有机会赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。【参与方式】 在“<a href=\"https://laohu8.com/RN?name=RNTheme&amp;page=/theme/special/discussion&amp;rndata={&quot;themeId&quot;:&quot;fa946d497d894de8863f2348305e2a7e&quot;}\" target=\"_blank\">老虎财报季</a>”主题下发帖，或者题目中包含“老虎财报季”等关键字分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，字数不少于300字。并<a target=\"_blank\" href=\"https://laohu8.com/U/36984908995200\">@小虎活动</a>、<a target=\"_blank\" href=\"https://laohu8.com/U/20722186463466\">@爱发红包的虎妞</a> 或者<a target=\"_blank\" href=\"https://laohu8.com/U/3514329116425907\">@小虎AV</a> 写什么？虎友们可以自由发挥！如果没有现成的idea，也可以参考以下模版： 关注公司的财报业绩（营收，净利润，主营业务表现，关键指标增长等） 公司基本面分析（包括主营业务分析、所属行业竞争优劣势、未来发展点等） 财报前后你是否有调整仓位？未来是否会继续投资？","listText":"参与《老虎财报季》赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。Q2财报季即将拉开序幕，美国六大银行将在本周率先公布财报，随后将迎来大家最关心的科技股财报。小虎君想邀请虎友们，分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，就有机会赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。【参与方式】 在“<a href=\"https://laohu8.com/RN?name=RNTheme&amp;page=/theme/special/discussion&amp;rndata={&quot;themeId&quot;:&quot;fa946d497d894de8863f2348305e2a7e&quot;}\" target=\"_blank\">老虎财报季</a>”主题下发帖，或者题目中包含“老虎财报季”等关键字分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，字数不少于300字。并<a target=\"_blank\" 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财报前后你是否有调整仓位？未来是否会继续投资？","images":[{"img":"https://static.tigerbbs.com/82e19e2adebbf2c25108f6926818deea","width":"1080","height":"648"},{"img":"https://static.tigerbbs.com/18f14b2fa2c5e868274e699566b71f54","width":"840","height":"540"},{"img":"https://static.tigerbbs.com/ac10aad89763946afd17f38ae564756a","width":"1084","height":"1086"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/146135203","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":4,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":171036507,"gmtCreate":1626694924309,"gmtModify":1633924886852,"author":{"id":"3571303297635750","authorId":"3571303297635750","name":"562e17ba","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571303297635750","authorIdStr":"3571303297635750"},"themes":[],"htmlText":"Wow such a great article","listText":"Wow such a great article","text":"Wow such a great article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171036507","repostId":"1111084715","repostType":4,"isVote":1,"tweetType":1,"viewCount":602,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171032232,"gmtCreate":1626694980026,"gmtModify":1633924886388,"author":{"id":"3571303297635750","authorId":"3571303297635750","name":"562e17ba","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571303297635750","authorIdStr":"3571303297635750"},"themes":[],"htmlText":"What is an SPAC. This is very interesting.","listText":"What is an SPAC. This is very interesting.","text":"What is an SPAC. This is very interesting.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171032232","repostId":"1132377814","repostType":4,"repost":{"id":"1132377814","kind":"news","pubTimestamp":1626693740,"share":"https://www.laohu8.com/m/news/1132377814?lang=zh_CN&edition=full","pubTime":"2021-07-19 19:22","market":"us","language":"en","title":"\"Doomed To Fail\" - Ackman's SPAC Backs Out Of Deal To Buy 10% Of Universal Music Group<blockquote>“注定失败”——阿克曼的SPAC退出收购环球音乐集团10%股份的交易</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132377814","media":"zerohedge","summary":"Bill SPACman is about to have some explaining to do to an army of frustrated retail shareholders in ","content":"<p>Bill SPACman is about to have some explaining to do to an army of frustrated retail shareholders in his SPAC who have anxiously watched its post-offering premium shrink with a growing sense of trepidation.</p><p><blockquote>比尔·斯派克曼(Bill SPACman)即将向SPAC中一群沮丧的散户股东做出一些解释，他们焦急地看着其发行后溢价缩水，恐惧感越来越强。</blockquote></p><p> In a statement to shareholders in his SPAC - Pershing Square Tontine Holdings, or PSTH -<b>Ackman announced on Monday that a deal between his SPAC and French conglomerate Vivendi to purchase 10% of Universal Music Group</b>(which Vivendi is planning to spin off into a separate business controlled by a conglomerate of investors later this year)<i><b>has fallen apart.</b></i></p><p><blockquote>在给他的SPAC——潘兴广场通天控股公司（PSTH）股东的一份声明中——<b>阿克曼周一宣布，他的SPAC与法国企业集团维旺迪达成协议，收购环球音乐集团10%的股份</b>（维旺迪计划在今年晚些时候将其分拆为一个由投资者集团控制的独立业务）<i><b>已经分崩离析。</b></i></blockquote></p><p> The deal for UMG would have been the biggest SPAC deal in history, according to CNBC. However,<b>its complexity troubled regulators, and increasingly aroused opposition from investors.</b>Dimming demand has seen shares of PSTH fall 18% since the dealwas first announced in early June.</p><p><blockquote>据CNBC报道，UMG的交易将是历史上最大的SPAC交易。然而，<b>它的复杂性困扰着监管机构，并越来越引起投资者的反对。</b>自6月初首次宣布该交易以来，需求疲软导致PSTH股价下跌18%。</blockquote></p><p> But there's a twist.<i>Ackman isn't backing away entirely</i>(UMG is after all an extremely profitable business, made more so by the advent of streaming services like Spotify). Instead, the wealthy investors in Pershing Square, Ackman's hedge fund firm with more than $13 billion in assets under management, will walk away with a piece of UMG when the company lists on the Amsterdam Stock Exchange with an expected valuation of €35 billion. It will be controlled a consortium of investors, including Tencent.</p><p><blockquote>但是有一个转折。<i>阿克曼并没有完全退缩</i>（毕竟，UMG是一项利润丰厚的业务，Spotify等流媒体服务的出现让这一点变得更加重要）。相反，阿克曼的对冲基金公司潘兴广场(Pershing Square)管理着超过130亿美元的资产，当该公司在阿姆斯特丹证券交易所上市时，该公司的富裕投资者将带走UMG的一部分，预计估值为350亿欧元。它将由包括腾讯控股在内的投资者财团控制。</blockquote></p><p> AsWSJreported, the news marks an unceremonious conclusion to one of<b>\"the biggest guessing games on Wall Street\"</b>as investors tried to guess which target Ackman might pursue. Given his firm's unparalleled largess, options appeared limited. Which is one reason why the structure of the PSTH-UMG deal was so complex. With UMG set to list publicly, the deal's structure would have been exceedingly complex, asWSJattempts to explain:</p><p><blockquote>据ASWSJ报道，这一消息标志着一个毫不客气的结论<b>“华尔街最大的猜谜游戏”</b>当投资者试图猜测阿克曼可能追求哪个目标时。鉴于他的公司无与伦比的慷慨，选择似乎有限。这也是PSTH-UMG交易结构如此复杂的原因之一。由于UMG即将公开上市，交易的结构将极其复杂，正如WSJ试图解释的那样：</blockquote></p><p> <ul>  <li>Mr. Ackman’s deal was different: New York Stock Exchange-listed Pershing Square Tontine Holding Ltd. didn’t intend to merge with Universal but instead become a shareholder ahead of an already-planned listing by Universal in the Netherlands. People familiar with the matter said it was structured that way because of tax and legal implications for Vivendi, The Wall Street Journal reported.</li>  <li>The structure was hailed by some as a feat of financial engineering that also freed Mr. Ackman from some of the usual constraints of SPACs.</li>  <li>Some observers, though, saw the structure as a concession to the reality that in an increasingly crowded SPAC market, and because of the relatively large size of the vehicle, Mr. Ackman wasn’t able to pull off a more conventional deal, as had been expected. In a sign of waning investor enthusiasm, Pershing Square Tontine shares have fallen 18% since the original transaction was announced on June 4.</li> </ul> After Ackman failed to strike merger deals with Airbnb and Stripe, reports of the deal to take a stake in UMG were greeted with celebration, at least initially. But investors and analysts quickly questioned whether the complexity of the deal, which would leave the publicly traded SPAC with a stake in another publicly traded company, would fly with regulators. Turns out, they were correct. In Pershing's statement, Ackman cites the SEC's misgivings as the main reason for scrapping the deal.</p><p><blockquote><ul><li>阿克曼的交易有所不同：在纽约证券交易所上市的潘兴广场通天控股有限公司并不打算与环球合并，而是在环球已经计划在荷兰上市之前成为股东。据《华尔街日报》报道，知情人士表示，由于维旺迪的税收和法律影响，该公司的结构如此。</li><li>这种结构被一些人誉为金融工程的壮举，也使阿克曼摆脱了SPAC的一些常见限制。</li><li>不过，一些观察人士认为，这种结构是对现实的让步：在日益拥挤的SPAC市场中，由于该工具的规模相对较大，阿克曼无法像预期的那样完成更传统的交易。自6月4日宣布最初交易以来，Pershing Square Tontine股价已下跌18%，这表明投资者热情减弱。</li></ul>在阿克曼未能与爱彼迎和Stripe达成合并协议后，有关入股UMG的报道受到了庆祝，至少在最初是这样。但投资者和分析师很快质疑，这笔交易的复杂性是否会让监管机构满意，这将使上市的SPAC持有另一家上市公司的股份。事实证明，他们是正确的。在潘兴的声明中，阿克曼将美国证券交易委员会的疑虑作为取消该交易的主要原因。</blockquote></p><p>   <b>\"Our decision to seek an alternative initial business combination (IBC) was driven by issues raised by the SEC with several elements of the proposed transaction</b>- in particular, whether the structure of our IBC qualified under the NYSE rules.\"  Ackman explains that he hadn’t anticipated shareholders’ apprehensions about the structure of the deal and its \"potential impact on investors who are unable to hold foreign securities, who margin their shares, or who own call options on our stock.\" Of course, as we noted earlier, Ackman isn't leaving anyone \"at the altar.\"</p><p><blockquote><b>“我们决定寻求替代性初始业务合并(IBC)是由SEC对拟议交易的几个要素提出的问题推动的</b>-特别是，我们IBC的结构是否符合纽约证券交易所的规则。”阿克曼解释说，他没有预料到股东对交易结构及其“对无法持有外国证券、股票保证金或拥有我们股票看涨期权期权的投资者的潜在影响”的担忧。当然，正如我们之前指出的，阿克曼不会让任何人“站在圣坛上”。</blockquote></p><p>   <b>\"Yet, despite the inability of PSTH to consummate the UMG transaction, our counterparty was not left at the altar.</b>Pershing Square will be fulfilling PSTH’s commitment to Vivendi.\"  One rival institution appeared to question whether Ackman really believed the deal would succeed,Bloombergreports.</p><p><blockquote><b>“然而，尽管PSTH无法完成UMG交易，但我们的交易对手并没有被留在神坛上。</b>潘兴广场将履行PSTH对维旺迪的承诺。”据彭博社报道，一家竞争对手机构似乎质疑阿克曼是否真的相信这笔交易会成功。</blockquote></p><p></p><p>   <b>\"It was an ill-fated transaction doomed to fail and it did,”</b>said Bluebell Capital Partners Chief Investment Officer Giuseppe Bivona, who had launched an activist campaign against the company earlier this year and still owns Vivendi shares. \"There’s not much we know at this stage but it doesn’t seem to be just the change in entities. It’s not clear if Pershing Square is buying the full 10%.\"  As Bluebell says, it's unclear whether Ackman will actually walk away with 10% when the deal is finished. Vivendi says if the stake is less than 10%, it will sell an equivalent amount of shares to whatever is left on the table to investors ahead of the September listing. Given UMG's market dominance - it controls 40% of the American music market - it's likely the deal will draw considerable interest from institutional shareholders.</p><p><blockquote><b>“这是一笔注定要失败的命运多舛的交易，事实也的确如此。”</b>Bluebell Capital Partners首席投资官朱塞佩·比沃纳(Giuseppe Bivona)表示，他今年早些时候发起了一场反对该公司的激进运动，目前仍持有维旺迪的股票。“现阶段我们知道的不多，但似乎不仅仅是实体的变化。目前尚不清楚潘兴广场是否会购买全部10%的股份。”正如Bluebell所说，目前尚不清楚交易完成后阿克曼是否真的会拿走10%的股份。维旺迪表示，如果持股比例低于10%，它将在9月份上市前向投资者出售与剩余股份相当的股份。鉴于UMG的市场主导地位——它控制着美国音乐市场40%的份额——这笔交易很可能会引起机构股东的极大兴趣。</blockquote></p><p> Ackman's SPAC still has another 18 months to complete a deal, but given it's size and the seeming shortage of suitable targets following years of frenzied dealmaking activity which has left slim pickings even for investors with a fraction of the money Ackman has to put to work.</p><p><blockquote>阿克曼的SPAC还有18个月的时间来完成交易，但考虑到其规模以及多年疯狂的交易活动后似乎缺乏合适的目标，即使对于只有阿克曼必须投入的一小部分资金的投资者来说，选择也很少。</blockquote></p><p> He now as 18 months to strike a deal, or being forced to return capital to shareholders. Ultimately, it's an example of retail investors being left exposed, while Ackman's wealthy hedge fund investors are left with a stake in an extremely profitable business.</p><p><blockquote>他现在有18个月的时间达成交易，否则将被迫向股东返还资本。最终，这是散户投资者面临风险的一个例子，而阿克曼富有的对冲基金投资者则持有一家利润丰厚的企业的股份。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Doomed To Fail\" - Ackman's SPAC Backs Out Of Deal To Buy 10% Of Universal Music Group<blockquote>“注定失败”——阿克曼的SPAC退出收购环球音乐集团10%股份的交易</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\">\n\"Doomed To Fail\" - Ackman's SPAC Backs Out Of Deal To Buy 10% Of Universal Music Group<blockquote>“注定失败”——阿克曼的SPAC退出收购环球音乐集团10%股份的交易</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-19 19:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Bill SPACman is about to have some explaining to do to an army of frustrated retail shareholders in his SPAC who have anxiously watched its post-offering premium shrink with a growing sense of trepidation.</p><p><blockquote>比尔·斯派克曼(Bill SPACman)即将向SPAC中一群沮丧的散户股东做出一些解释，他们焦急地看着其发行后溢价缩水，恐惧感越来越强。</blockquote></p><p> In a statement to shareholders in his SPAC - Pershing Square Tontine Holdings, or PSTH -<b>Ackman announced on Monday that a deal between his SPAC and French conglomerate Vivendi to purchase 10% of Universal Music Group</b>(which Vivendi is planning to spin off into a separate business controlled by a conglomerate of investors later this year)<i><b>has fallen apart.</b></i></p><p><blockquote>在给他的SPAC——潘兴广场通天控股公司（PSTH）股东的一份声明中——<b>阿克曼周一宣布，他的SPAC与法国企业集团维旺迪达成协议，收购环球音乐集团10%的股份</b>（维旺迪计划在今年晚些时候将其分拆为一个由投资者集团控制的独立业务）<i><b>已经分崩离析。</b></i></blockquote></p><p> The deal for UMG would have been the biggest SPAC deal in history, according to CNBC. However,<b>its complexity troubled regulators, and increasingly aroused opposition from investors.</b>Dimming demand has seen shares of PSTH fall 18% since the dealwas first announced in early June.</p><p><blockquote>据CNBC报道，UMG的交易将是历史上最大的SPAC交易。然而，<b>它的复杂性困扰着监管机构，并越来越引起投资者的反对。</b>自6月初首次宣布该交易以来，需求疲软导致PSTH股价下跌18%。</blockquote></p><p> But there's a twist.<i>Ackman isn't backing away entirely</i>(UMG is after all an extremely profitable business, made more so by the advent of streaming services like Spotify). Instead, the wealthy investors in Pershing Square, Ackman's hedge fund firm with more than $13 billion in assets under management, will walk away with a piece of UMG when the company lists on the Amsterdam Stock Exchange with an expected valuation of €35 billion. It will be controlled a consortium of investors, including Tencent.</p><p><blockquote>但是有一个转折。<i>阿克曼并没有完全退缩</i>（毕竟，UMG是一项利润丰厚的业务，Spotify等流媒体服务的出现让这一点变得更加重要）。相反，阿克曼的对冲基金公司潘兴广场(Pershing Square)管理着超过130亿美元的资产，当该公司在阿姆斯特丹证券交易所上市时，该公司的富裕投资者将带走UMG的一部分，预计估值为350亿欧元。它将由包括腾讯控股在内的投资者财团控制。</blockquote></p><p> AsWSJreported, the news marks an unceremonious conclusion to one of<b>\"the biggest guessing games on Wall Street\"</b>as investors tried to guess which target Ackman might pursue. Given his firm's unparalleled largess, options appeared limited. Which is one reason why the structure of the PSTH-UMG deal was so complex. With UMG set to list publicly, the deal's structure would have been exceedingly complex, asWSJattempts to explain:</p><p><blockquote>据ASWSJ报道，这一消息标志着一个毫不客气的结论<b>“华尔街最大的猜谜游戏”</b>当投资者试图猜测阿克曼可能追求哪个目标时。鉴于他的公司无与伦比的慷慨，选择似乎有限。这也是PSTH-UMG交易结构如此复杂的原因之一。由于UMG即将公开上市，交易的结构将极其复杂，正如WSJ试图解释的那样：</blockquote></p><p> <ul>  <li>Mr. Ackman’s deal was different: New York Stock Exchange-listed Pershing Square Tontine Holding Ltd. didn’t intend to merge with Universal but instead become a shareholder ahead of an already-planned listing by Universal in the Netherlands. People familiar with the matter said it was structured that way because of tax and legal implications for Vivendi, The Wall Street Journal reported.</li>  <li>The structure was hailed by some as a feat of financial engineering that also freed Mr. Ackman from some of the usual constraints of SPACs.</li>  <li>Some observers, though, saw the structure as a concession to the reality that in an increasingly crowded SPAC market, and because of the relatively large size of the vehicle, Mr. Ackman wasn’t able to pull off a more conventional deal, as had been expected. In a sign of waning investor enthusiasm, Pershing Square Tontine shares have fallen 18% since the original transaction was announced on June 4.</li> </ul> After Ackman failed to strike merger deals with Airbnb and Stripe, reports of the deal to take a stake in UMG were greeted with celebration, at least initially. But investors and analysts quickly questioned whether the complexity of the deal, which would leave the publicly traded SPAC with a stake in another publicly traded company, would fly with regulators. Turns out, they were correct. In Pershing's statement, Ackman cites the SEC's misgivings as the main reason for scrapping the deal.</p><p><blockquote><ul><li>阿克曼的交易有所不同：在纽约证券交易所上市的潘兴广场通天控股有限公司并不打算与环球合并，而是在环球已经计划在荷兰上市之前成为股东。据《华尔街日报》报道，知情人士表示，由于维旺迪的税收和法律影响，该公司的结构如此。</li><li>这种结构被一些人誉为金融工程的壮举，也使阿克曼摆脱了SPAC的一些常见限制。</li><li>不过，一些观察人士认为，这种结构是对现实的让步：在日益拥挤的SPAC市场中，由于该工具的规模相对较大，阿克曼无法像预期的那样完成更传统的交易。自6月4日宣布最初交易以来，Pershing Square Tontine股价已下跌18%，这表明投资者热情减弱。</li></ul>在阿克曼未能与爱彼迎和Stripe达成合并协议后，有关入股UMG的报道受到了庆祝，至少在最初是这样。但投资者和分析师很快质疑，这笔交易的复杂性是否会让监管机构满意，这将使上市的SPAC持有另一家上市公司的股份。事实证明，他们是正确的。在潘兴的声明中，阿克曼将美国证券交易委员会的疑虑作为取消该交易的主要原因。</blockquote></p><p>   <b>\"Our decision to seek an alternative initial business combination (IBC) was driven by issues raised by the SEC with several elements of the proposed transaction</b>- in particular, whether the structure of our IBC qualified under the NYSE rules.\"  Ackman explains that he hadn’t anticipated shareholders’ apprehensions about the structure of the deal and its \"potential impact on investors who are unable to hold foreign securities, who margin their shares, or who own call options on our stock.\" Of course, as we noted earlier, Ackman isn't leaving anyone \"at the altar.\"</p><p><blockquote><b>“我们决定寻求替代性初始业务合并(IBC)是由SEC对拟议交易的几个要素提出的问题推动的</b>-特别是，我们IBC的结构是否符合纽约证券交易所的规则。”阿克曼解释说，他没有预料到股东对交易结构及其“对无法持有外国证券、股票保证金或拥有我们股票看涨期权期权的投资者的潜在影响”的担忧。当然，正如我们之前指出的，阿克曼不会让任何人“站在圣坛上”。</blockquote></p><p>   <b>\"Yet, despite the inability of PSTH to consummate the UMG transaction, our counterparty was not left at the altar.</b>Pershing Square will be fulfilling PSTH’s commitment to Vivendi.\"  One rival institution appeared to question whether Ackman really believed the deal would succeed,Bloombergreports.</p><p><blockquote><b>“然而，尽管PSTH无法完成UMG交易，但我们的交易对手并没有被留在神坛上。</b>潘兴广场将履行PSTH对维旺迪的承诺。”据彭博社报道，一家竞争对手机构似乎质疑阿克曼是否真的相信这笔交易会成功。</blockquote></p><p></p><p>   <b>\"It was an ill-fated transaction doomed to fail and it did,”</b>said Bluebell Capital Partners Chief Investment Officer Giuseppe Bivona, who had launched an activist campaign against the company earlier this year and still owns Vivendi shares. \"There’s not much we know at this stage but it doesn’t seem to be just the change in entities. It’s not clear if Pershing Square is buying the full 10%.\"  As Bluebell says, it's unclear whether Ackman will actually walk away with 10% when the deal is finished. Vivendi says if the stake is less than 10%, it will sell an equivalent amount of shares to whatever is left on the table to investors ahead of the September listing. Given UMG's market dominance - it controls 40% of the American music market - it's likely the deal will draw considerable interest from institutional shareholders.</p><p><blockquote><b>“这是一笔注定要失败的命运多舛的交易，事实也的确如此。”</b>Bluebell Capital Partners首席投资官朱塞佩·比沃纳(Giuseppe Bivona)表示，他今年早些时候发起了一场反对该公司的激进运动，目前仍持有维旺迪的股票。“现阶段我们知道的不多，但似乎不仅仅是实体的变化。目前尚不清楚潘兴广场是否会购买全部10%的股份。”正如Bluebell所说，目前尚不清楚交易完成后阿克曼是否真的会拿走10%的股份。维旺迪表示，如果持股比例低于10%，它将在9月份上市前向投资者出售与剩余股份相当的股份。鉴于UMG的市场主导地位——它控制着美国音乐市场40%的份额——这笔交易很可能会引起机构股东的极大兴趣。</blockquote></p><p> Ackman's SPAC still has another 18 months to complete a deal, but given it's size and the seeming shortage of suitable targets following years of frenzied dealmaking activity which has left slim pickings even for investors with a fraction of the money Ackman has to put to work.</p><p><blockquote>阿克曼的SPAC还有18个月的时间来完成交易，但考虑到其规模以及多年疯狂的交易活动后似乎缺乏合适的目标，即使对于只有阿克曼必须投入的一小部分资金的投资者来说，选择也很少。</blockquote></p><p> He now as 18 months to strike a deal, or being forced to return capital to shareholders. Ultimately, it's an example of retail investors being left exposed, while Ackman's wealthy hedge fund investors are left with a stake in an extremely profitable business.</p><p><blockquote>他现在有18个月的时间达成交易，否则将被迫向股东返还资本。最终，这是散户投资者面临风险的一个例子，而阿克曼富有的对冲基金投资者则持有一家利润丰厚的企业的股份。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/doomed-fail-ackmans-spac-backs-out-deal-buy-10-universal-music-group\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/doomed-fail-ackmans-spac-backs-out-deal-buy-10-universal-music-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132377814","content_text":"Bill SPACman is about to have some explaining to do to an army of frustrated retail shareholders in his SPAC who have anxiously watched its post-offering premium shrink with a growing sense of trepidation.\nIn a statement to shareholders in his SPAC - Pershing Square Tontine Holdings, or PSTH -Ackman announced on Monday that a deal between his SPAC and French conglomerate Vivendi to purchase 10% of Universal Music Group(which Vivendi is planning to spin off into a separate business controlled by a conglomerate of investors later this year)has fallen apart.\nThe deal for UMG would have been the biggest SPAC deal in history, according to CNBC. However,its complexity troubled regulators, and increasingly aroused opposition from investors.Dimming demand has seen shares of PSTH fall 18% since the dealwas first announced in early June.\nBut there's a twist.Ackman isn't backing away entirely(UMG is after all an extremely profitable business, made more so by the advent of streaming services like Spotify). Instead, the wealthy investors in Pershing Square, Ackman's hedge fund firm with more than $13 billion in assets under management, will walk away with a piece of UMG when the company lists on the Amsterdam Stock Exchange with an expected valuation of €35 billion. It will be controlled a consortium of investors, including Tencent.\nAsWSJreported, the news marks an unceremonious conclusion to one of\"the biggest guessing games on Wall Street\"as investors tried to guess which target Ackman might pursue. Given his firm's unparalleled largess, options appeared limited. Which is one reason why the structure of the PSTH-UMG deal was so complex. With UMG set to list publicly, the deal's structure would have been exceedingly complex, asWSJattempts to explain:\n\nMr. Ackman’s deal was different: New York Stock Exchange-listed Pershing Square Tontine Holding Ltd. didn’t intend to merge with Universal but instead become a shareholder ahead of an already-planned listing by Universal in the Netherlands. People familiar with the matter said it was structured that way because of tax and legal implications for Vivendi, The Wall Street Journal reported.\nThe structure was hailed by some as a feat of financial engineering that also freed Mr. Ackman from some of the usual constraints of SPACs.\nSome observers, though, saw the structure as a concession to the reality that in an increasingly crowded SPAC market, and because of the relatively large size of the vehicle, Mr. Ackman wasn’t able to pull off a more conventional deal, as had been expected. In a sign of waning investor enthusiasm, Pershing Square Tontine shares have fallen 18% since the original transaction was announced on June 4.\n\nAfter Ackman failed to strike merger deals with Airbnb and Stripe, reports of the deal to take a stake in UMG were greeted with celebration, at least initially. But investors and analysts quickly questioned whether the complexity of the deal, which would leave the publicly traded SPAC with a stake in another publicly traded company, would fly with regulators. Turns out, they were correct. In Pershing's statement, Ackman cites the SEC's misgivings as the main reason for scrapping the deal.\n\n\"Our decision to seek an alternative initial business combination (IBC) was driven by issues raised by the SEC with several elements of the proposed transaction- in particular, whether the structure of our IBC qualified under the NYSE rules.\"\n\nAckman explains that he hadn’t anticipated shareholders’ apprehensions about the structure of the deal and its \"potential impact on investors who are unable to hold foreign securities, who margin their shares, or who own call options on our stock.\" Of course, as we noted earlier, Ackman isn't leaving anyone \"at the altar.\"\n\n\"Yet, despite the inability of PSTH to consummate the UMG transaction, our counterparty was not left at the altar.Pershing Square will be fulfilling PSTH’s commitment to Vivendi.\"\n\nOne rival institution appeared to question whether Ackman really believed the deal would succeed,Bloombergreports.\n\n\"It was an ill-fated transaction doomed to fail and it did,”said Bluebell Capital Partners Chief Investment Officer Giuseppe Bivona, who had launched an activist campaign against the company earlier this year and still owns Vivendi shares. \"There’s not much we know at this stage but it doesn’t seem to be just the change in entities. It’s not clear if Pershing Square is buying the full 10%.\"\n\nAs Bluebell says, it's unclear whether Ackman will actually walk away with 10% when the deal is finished. Vivendi says if the stake is less than 10%, it will sell an equivalent amount of shares to whatever is left on the table to investors ahead of the September listing. Given UMG's market dominance - it controls 40% of the American music market - it's likely the deal will draw considerable interest from institutional shareholders.\nAckman's SPAC still has another 18 months to complete a deal, but given it's size and the seeming shortage of suitable targets following years of frenzied dealmaking activity which has left slim pickings even for investors with a fraction of the money Ackman has to put to work.\nHe now as 18 months to strike a deal, or being forced to return capital to shareholders. Ultimately, it's an example of retail investors being left exposed, while Ackman's wealthy hedge fund investors are left with a stake in an extremely profitable business.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171036913,"gmtCreate":1626694894932,"gmtModify":1633924887192,"author":{"id":"3571303297635750","authorId":"3571303297635750","name":"562e17ba","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571303297635750","authorIdStr":"3571303297635750"},"themes":[],"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171036913","repostId":"1135910714","repostType":4,"repost":{"id":"1135910714","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626692784,"share":"https://www.laohu8.com/m/news/1135910714?lang=zh_CN&edition=full","pubTime":"2021-07-19 19:06","market":"us","language":"en","title":"Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135910714","media":"Tiger Newspress","summary":"The morning sell-off in stock futures is accelerating.\nPershing Square Tontine Holdings, Tesla Motor","content":"<p><ul>  <li>The morning sell-off in stock futures is accelerating.</li>  <li>Pershing Square Tontine Holdings, Tesla Motor, XPeng Inc. made the biggest moves in premarket trading.</li>  <li>Oil extended losses, with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.</li> </ul> (July&nbsp;19)&nbsp;U.S. stock futures, oil prices and government bond yields slid, amid anxiety that the spread of the Delta coronavirus variant would hold back the global economy.</p><p><blockquote><ul><li>股指期货早盘抛售加速。</li><li>潘兴广场Tontine Holdings、特斯拉汽车、小鹏汽车在盘前交易中涨幅最大。</li><li>石油扩大跌幅，WTI原油期货下跌3.8%，至70美元/桶以下，此前昨天的欧佩克+协议被许多人视为看涨，但CTA今天上午正在进行批发清算。</li></ul>（七月十九日）美国。由于担心德尔塔新冠病毒变异毒株蔓延将拖累全球经济，股票期货、油价和政府债券收益率下滑。</blockquote></p><p> At 8:09 a.m. ET,Futures for the S&amp;P 500 fell 1.11%, signaling opening losses for the broad stock-market gauge after itsnapped a three-week winning streak Friday. Contracts for the Dow Jones Industrial Average dropped 1.35%. Futures on the technology-focused <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>-100 fell 0.89%.</p><p><blockquote>美国东部时间上午8:09，标普500期货下跌1.11%，标志着股市大盘在周五连续三周上涨后开盘下跌。道琼斯工业平均指数合约下跌1.35%。以技术为中心的未来<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>-100跌0.89%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/78212dd3d7e6d2af95d4495fa43cf583\" tg-width=\"1242\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Surging cases of the coronavirusin many parts of the world, including highly-vaccinated countries such as the U.K., have prompted investors to dial down their expectations of economic growth in the coming months. Some also are concerned that a steep rise in prices will pinch consumption and prompt central banks to withdraw stimulus, creating an environment of lower growth and higher inflation in which stocks tend to struggle.</p><p><blockquote>世界许多地区的冠状病毒病例激增，包括英国等疫苗接种率高的国家，促使投资者降低了对未来几个月经济增长的预期。一些人还担心，物价大幅上涨将抑制消费，并促使央行撤回刺激措施，从而创造一个增长放缓、通胀上升的环境，股市往往会陷入困境。</blockquote></p><p> “What you’re seeing is a sense that the consumer is starting to be affected quite significantly” by the jump in prices, said Sebastien Galy, senior macro strategist at Nordea Asset Management.</p><p><blockquote>北欧资产管理公司高级宏观策略师塞巴斯蒂安·加利表示，“你看到的是，消费者开始受到价格上涨的重大影响”。</blockquote></p><p> Business reopenings, rising vaccination rates and government pandemic aid have helped propel rapid gains in consumer spending—the economy’s main driver. But surveys show that inflation, which accelerated to a 13-year high in the U.S. in June, is starting toknock consumers’ confidencein their ability to keep spending, Mr. Galy said.</p><p><blockquote>商业重新开业、疫苗接种率上升和政府的流行病援助帮助推动了消费者支出的快速增长——经济的主要驱动力。但加利表示，调查显示，美国6月份通胀加速至13年来的新高，开始打击消费者对其继续支出能力的信心。</blockquote></p><p> Airlines and oil-and-gas companies were among the worst performers ahead of the bell in <a href=\"https://laohu8.com/S/NWY\">New York</a>.<a href=\"https://laohu8.com/S/OXY\">Occidental</a> Petroleumlost 4.1%, <a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a> 3.6%,<a href=\"https://laohu8.com/S/AAL\">American Airlines</a> Group2.3% and $Delta <a href=\"https://laohu8.com/S/AIRI\">Air</a> Lines(DAL)$ 2.2%.</p><p><blockquote>航空公司和石油天然气公司是收盘前表现最差的公司之一<a href=\"https://laohu8.com/S/NWY\">纽约</a>.<a href=\"https://laohu8.com/S/OXY\">西方</a>石油损失4.1%，<a href=\"https://laohu8.com/S/COP\">康菲</a>3.6%,<a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>集团2.3%和$Delta<a href=\"https://laohu8.com/S/AIRI\">空气</a>线(DAL)$2.2%。</blockquote></p><p> One bright spot wasFive9,which jumped 8.3% on news thatZoom Video Communicationsplans to buy the provider of cloud-based customer-service software in a deal valuing the firm at $14.7 billion. <a href=\"https://laohu8.com/S/ZM\">Zoom</a> shares slipped 2% in premarket trading.</p><p><blockquote>Five9是一个亮点，有消息称Zoom Video Communications计划收购这家基于云的客户服务软件提供商，该公司估值为147亿美元，该公司股价上涨8.3%。<a href=\"https://laohu8.com/S/ZM\">Zoom</a>股价在盘前交易中下跌2%。</blockquote></p><p> Worries about the economic effects of the virus were evident in a broad retreat in global markets. The regional Stoxx Europe 600 slid 1.9%, led lower by shares of economically sensitive travel, leisure and commodities companies.</p><p><blockquote>对病毒经济影响的担忧在全球市场的广泛回落中显而易见。欧洲斯托克600指数下跌1.9%，对经济敏感的旅游、休闲和大宗商品公司的股价领跌。</blockquote></p><p> Potential beneficiaries of a prolonged pandemic including food-delivery companiesHelloFresh,Deliverooand <a href=\"https://laohu8.com/S/JE\">Just</a> Eat Takeaway.com ticked higher.</p><p><blockquote>长期大流行的潜在受益者包括食品配送公司HelloFresh、Deliveroo和<a href=\"https://laohu8.com/S/JE\">刚刚</a>Eat Takeaway.com走高。</blockquote></p><p> Among other stocks, Paris-listedVivendifell 1.2%. <a href=\"https://laohu8.com/S/PGLC\">Pershing</a> <a href=\"https://laohu8.com/S/SQ\">Square</a> Tontine, a blank-check company led by hedge-fund manager Bill Ackman, said it had dropped plans topurchase a 10% stakein <a href=\"https://laohu8.com/S/UVV\">Universal</a> Music Group. Mr. Ackman’s <a href=\"https://laohu8.com/S/PGLC\">Pershing</a> <a href=\"https://laohu8.com/S/SQ\">Square</a> said it would take a large stake in <a href=\"https://laohu8.com/S/UVV\">Universal</a>, which is majority owned by Vivendi, instead.</p><p><blockquote>其他股票中，巴黎上市公司Vivendi下跌1.2%。<a href=\"https://laohu8.com/S/PGLC\">潘兴</a><a href=\"https://laohu8.com/S/SQ\">平方</a>由对冲基金经理比尔·阿克曼(Bill Ackman)领导的空白支票公司Tontine表示，已放弃购买10%股份的计划<a href=\"https://laohu8.com/S/UVV\">普遍的</a>音乐团体。阿克曼先生的<a href=\"https://laohu8.com/S/PGLC\">潘兴</a><a href=\"https://laohu8.com/S/SQ\">平方</a>表示将持有大量股份<a href=\"https://laohu8.com/S/UVV\">普遍的</a>相反，维旺迪拥有多数股权。</blockquote></p><p> Italian luxury fashion house Ermenegildo Zegna will go public on the <a href=\"https://laohu8.com/S/NYRT\">New York</a> Stock Exchange later this year as part of a tie-up agreement with special-purpose acquisition corporation Investindustrial Acquisition. Shares of the SPAC, whose chairman is former UBS CEO Sergio Ermotti, edged down before the bell in <a href=\"https://laohu8.com/S/NGD\">New</a> York.</p><p><blockquote>意大利奢侈时装公司Ermenegildo Zegna将于<a href=\"https://laohu8.com/S/NYRT\">纽约</a>作为与特殊目的收购公司Investindustrial Acquisition合作协议的一部分，今年晚些时候在证券交易所上市。SPAC的董事长是瑞银前首席执行官塞尔吉奥·埃尔莫蒂(Sergio Ermotti)，其股价在盘前小幅下跌<a href=\"https://laohu8.com/S/NGD\">新的</a>约克。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/PSTH.U\">Pershing Square Tontine Holdings</a>:&nbsp;</b>Billionaire investor William Ackman’s <a href=\"https://laohu8.com/S/PSTH\">Pershing Square Tontine Holdings</a> has dropped a deal to buy 10% of Vivendi’s Universal Music Group (UMG), the label that is home to musicians such as Taylor Swift.</p><p><blockquote><b><a href=\"https://laohu8.com/S/PSTH.U\">潘兴广场通天控股</a>: </b>亿万富翁投资者威廉·阿克曼的<a href=\"https://laohu8.com/S/PSTH\">潘兴广场通天控股</a>放弃了收购维旺迪环球音乐集团(UMG)10%股份的交易，该公司是泰勒·斯威夫特(Taylor Swift)等音乐家的大本营。</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> :&nbsp;</b>On Saturday, Elon Musk's Tesla Inc launched its Full Self-Driving (FSD) subscription for its driver-assistance software package for $199 per month, Reuters reports. Tesla offered the Full Self-Driving package for a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time payment of $10,000. The FSD feature would cost $99 a month for those who previously bought the Enhanced Autopilot package. According to Tesla, vehicle owners can cancel their monthly FSD subscription at any time. Tesla fell 2.28% in the premarket&nbsp;trading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>: </b>据路透社报道，周六，Elon Musk旗下的特斯拉公司推出了其驾驶员辅助软件包的全自动驾驶(FSD)订阅，每月价格为199美元。特斯拉提供全自动驾驶套件<a href=\"https://laohu8.com/S/AONE.U\">一</a>-10,000美元的定期付款。对于那些之前购买了增强型Autopilot套件的人来说，FSD功能每月的费用为99美元。据特斯拉称，车主可以随时取消每月的FSD订阅。特斯拉盘前交易中下跌2.28%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e2886cd35d2ac9d0ed7cf4d9056c678a\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b><a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>:&nbsp;</b>Xpeng Undercuts Tesla With P5 Sedan Priced Starting $24.7K, EV Maker Reports High Demand As It Begins Taking Pre-Order.Xpeng fell 2.13% in the premarket&nbsp;trading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>: </b>小鹏汽车P5轿车起价为2.47万美元，低于特斯拉，电动汽车制造商报告称，随着开始接受预订，需求很高。小鹏汽车在盘前交易中下跌2.13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bbc962c414c77edbe87597c447261cac\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b><a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a>: </b>Johnson &amp; Johnson (JNJ.N) is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, according to seven people familiar with the matter.J&amp;J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer. The plaintiffs include women suffering from ovarian cancer and others battling mesothelioma.</p><p><blockquote><b><a href=\"https://laohu8.com/S/JNJ\">强生公司</a>：</b>强生公司（JNJ。据七位知情人士透露，N）正在探索一项计划，将广泛的婴儿爽身粉诉讼的责任转移到一家新成立的企业中，然后该企业将寻求破产保护。强生面临数万名原告的法律诉讼指控其婴儿爽身粉和其他滑石粉产品含有石棉并导致癌症。原告包括患有卵巢癌的女性和其他与间皮瘤作斗争的女性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ea35138cf94432dfdcd08c1528620d42\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In Asia, technology giants <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> and Tencent weighed on Hong Kong’s Hang Seng Index, which had lost 1.8% by the close of trading. The losses came after the Biden administration on Friday warned <a href=\"https://laohu8.com/S/AFG\">American</a> companies about the increasingrisks of operating in the financial hub.</p><p><blockquote>在亚洲，科技巨头<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>腾讯控股令香港恒生指数承压，截至收盘，香港股市已下跌1.8%。这些损失是在拜登政府周五警告之后发生的<a href=\"https://laohu8.com/S/AFG\">美国的</a>公司担心在金融中心运营的风险不断增加。</blockquote></p><p> Japan’s Nikkei 225 dropped 1.3%. More athletes and staff members attending theTokyo Olympics have tested positive, while cases are surging in Indonesia. Sydney, Australia’s most populous city, is under lockdown because of a delta outbreak.</p><p><blockquote>日本日经225指数下跌1.3%。越来越多参加东京奥运会的运动员和工作人员检测呈阳性，而印度尼西亚的病例也在激增。澳大利亚人口最多的城市悉尼因三角洲疫情而处于封锁状态。</blockquote></p><p> David Chao, a market strategist at <a href=\"https://laohu8.com/S/IVZ\">Invesco</a>, said the spread of the delta variant across Asia, coupled with low vaccination rates and expectations of additional social-distancing measures, has “taken wind out of the sail for many investors expecting an economic rebound” in the region.</p><p><blockquote>David Chao，市场策略师<a href=\"https://laohu8.com/S/IVZ\">景顺</a>表示，德尔塔变异毒株在亚洲的蔓延，加上疫苗接种率低以及对额外社交距离措施的预期，“让许多期待该地区经济反弹的投资者失去了动力”。</blockquote></p><p> Mr. Chao said he expected investors to continue to pull funds out of Asian stocks and shift them to shares in developed markets with high inoculation rates, such as the U.S. and U.K.</p><p><blockquote>赵先生表示，他预计投资者将继续将资金从亚洲股市撤出，转向美国和英国等接种率高的发达市场的股票。</blockquote></p><p> <b>In FX, </b>the pound slumped to a three-month low and the FTSE 100 tumbled 1.9% after the U.K. lifted remaining virus curbs in England even as virus cases increased the most in the world, signaling the challenge nations face to fully reopen their economies. Australia’s dollar dropped to a seven-month low after state governments tightened and extended lockdown measures to contain the latest outbreak. The yen strengthened versus all of its Group-of-10 peers. Investors are seeking protection in currency options; data from the Depository Trust &amp; Clearing Corporation show that volumes are running 10% higher than recent averages overall, with demand for Aussie and yuan exposure running at almost double the averages while the pound is almost at triple.</p><p><blockquote><b>在FX中，</b>尽管病毒病例增幅居全球之首，但英国取消了英格兰剩余的病毒限制措施，英镑跌至三个月低点，富时100指数下跌1.9%，这表明各国在全面重新开放经济方面面临挑战。在州政府收紧并延长封锁措施以遏制最新疫情后，澳元跌至七个月低点。日元兑所有10国集团货币走强。投资者正在寻求货币期权的保护；存管信托与清算公司的数据显示，交易量总体上比近期平均水平高出10%，对澳元和人民币敞口的需求几乎是平均水平的两倍，而英镑几乎是平均水平的三倍。</blockquote></p><p> <b>Oil extended losses, </b>with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.</p><p><blockquote><b>石油扩大损失，</b>在昨天的OPEC+协议之后，WTI原油期货下跌3.8%，至70美元/桶以下，许多人认为这是看涨的，但CTA今天上午正在进行批发清算。</blockquote></p><p> Gold, a perceived safe haven asset, was also down sliding to just above $1,800. On Sunday OPEC and its allies struck a deal that allows for monthly supply hikes of 400k b/d, putting the group back in control of the crude market. Oil refiners in Asia stayed on the sidelines awaiting price cuts after the OPEC+ deal.</p><p><blockquote>被视为避险资产的黄金也下跌至略高于1,800美元。周日，石油输出国组织及其盟友达成协议，允许每月增加40万桶/日的供应量，使该组织重新控制原油市场。欧佩克+达成协议后，亚洲炼油商观望等待降价。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-19 19:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><ul>  <li>The morning sell-off in stock futures is accelerating.</li>  <li>Pershing Square Tontine Holdings, Tesla Motor, XPeng Inc. made the biggest moves in premarket trading.</li>  <li>Oil extended losses, with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.</li> </ul> (July&nbsp;19)&nbsp;U.S. stock futures, oil prices and government bond yields slid, amid anxiety that the spread of the Delta coronavirus variant would hold back the global economy.</p><p><blockquote><ul><li>股指期货早盘抛售加速。</li><li>潘兴广场Tontine Holdings、特斯拉汽车、小鹏汽车在盘前交易中涨幅最大。</li><li>石油扩大跌幅，WTI原油期货下跌3.8%，至70美元/桶以下，此前昨天的欧佩克+协议被许多人视为看涨，但CTA今天上午正在进行批发清算。</li></ul>（七月十九日）美国。由于担心德尔塔新冠病毒变异毒株蔓延将拖累全球经济，股票期货、油价和政府债券收益率下滑。</blockquote></p><p> At 8:09 a.m. ET,Futures for the S&amp;P 500 fell 1.11%, signaling opening losses for the broad stock-market gauge after itsnapped a three-week winning streak Friday. Contracts for the Dow Jones Industrial Average dropped 1.35%. Futures on the technology-focused <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>-100 fell 0.89%.</p><p><blockquote>美国东部时间上午8:09，标普500期货下跌1.11%，标志着股市大盘在周五连续三周上涨后开盘下跌。道琼斯工业平均指数合约下跌1.35%。以技术为中心的未来<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>-100跌0.89%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/78212dd3d7e6d2af95d4495fa43cf583\" tg-width=\"1242\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Surging cases of the coronavirusin many parts of the world, including highly-vaccinated countries such as the U.K., have prompted investors to dial down their expectations of economic growth in the coming months. Some also are concerned that a steep rise in prices will pinch consumption and prompt central banks to withdraw stimulus, creating an environment of lower growth and higher inflation in which stocks tend to struggle.</p><p><blockquote>世界许多地区的冠状病毒病例激增，包括英国等疫苗接种率高的国家，促使投资者降低了对未来几个月经济增长的预期。一些人还担心，物价大幅上涨将抑制消费，并促使央行撤回刺激措施，从而创造一个增长放缓、通胀上升的环境，股市往往会陷入困境。</blockquote></p><p> “What you’re seeing is a sense that the consumer is starting to be affected quite significantly” by the jump in prices, said Sebastien Galy, senior macro strategist at Nordea Asset Management.</p><p><blockquote>北欧资产管理公司高级宏观策略师塞巴斯蒂安·加利表示，“你看到的是，消费者开始受到价格上涨的重大影响”。</blockquote></p><p> Business reopenings, rising vaccination rates and government pandemic aid have helped propel rapid gains in consumer spending—the economy’s main driver. But surveys show that inflation, which accelerated to a 13-year high in the U.S. in June, is starting toknock consumers’ confidencein their ability to keep spending, Mr. Galy said.</p><p><blockquote>商业重新开业、疫苗接种率上升和政府的流行病援助帮助推动了消费者支出的快速增长——经济的主要驱动力。但加利表示，调查显示，美国6月份通胀加速至13年来的新高，开始打击消费者对其继续支出能力的信心。</blockquote></p><p> Airlines and oil-and-gas companies were among the worst performers ahead of the bell in <a href=\"https://laohu8.com/S/NWY\">New York</a>.<a href=\"https://laohu8.com/S/OXY\">Occidental</a> Petroleumlost 4.1%, <a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a> 3.6%,<a href=\"https://laohu8.com/S/AAL\">American Airlines</a> Group2.3% and $Delta <a href=\"https://laohu8.com/S/AIRI\">Air</a> Lines(DAL)$ 2.2%.</p><p><blockquote>航空公司和石油天然气公司是收盘前表现最差的公司之一<a href=\"https://laohu8.com/S/NWY\">纽约</a>.<a href=\"https://laohu8.com/S/OXY\">西方</a>石油损失4.1%，<a href=\"https://laohu8.com/S/COP\">康菲</a>3.6%,<a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>集团2.3%和$Delta<a href=\"https://laohu8.com/S/AIRI\">空气</a>线(DAL)$2.2%。</blockquote></p><p> One bright spot wasFive9,which jumped 8.3% on news thatZoom Video Communicationsplans to buy the provider of cloud-based customer-service software in a deal valuing the firm at $14.7 billion. <a href=\"https://laohu8.com/S/ZM\">Zoom</a> shares slipped 2% in premarket trading.</p><p><blockquote>Five9是一个亮点，有消息称Zoom Video Communications计划收购这家基于云的客户服务软件提供商，该公司估值为147亿美元，该公司股价上涨8.3%。<a href=\"https://laohu8.com/S/ZM\">Zoom</a>股价在盘前交易中下跌2%。</blockquote></p><p> Worries about the economic effects of the virus were evident in a broad retreat in global markets. The regional Stoxx Europe 600 slid 1.9%, led lower by shares of economically sensitive travel, leisure and commodities companies.</p><p><blockquote>对病毒经济影响的担忧在全球市场的广泛回落中显而易见。欧洲斯托克600指数下跌1.9%，对经济敏感的旅游、休闲和大宗商品公司的股价领跌。</blockquote></p><p> Potential beneficiaries of a prolonged pandemic including food-delivery companiesHelloFresh,Deliverooand <a href=\"https://laohu8.com/S/JE\">Just</a> Eat Takeaway.com ticked higher.</p><p><blockquote>长期大流行的潜在受益者包括食品配送公司HelloFresh、Deliveroo和<a href=\"https://laohu8.com/S/JE\">刚刚</a>Eat Takeaway.com走高。</blockquote></p><p> Among other stocks, Paris-listedVivendifell 1.2%. <a href=\"https://laohu8.com/S/PGLC\">Pershing</a> <a href=\"https://laohu8.com/S/SQ\">Square</a> Tontine, a blank-check company led by hedge-fund manager Bill Ackman, said it had dropped plans topurchase a 10% stakein <a href=\"https://laohu8.com/S/UVV\">Universal</a> Music Group. Mr. Ackman’s <a href=\"https://laohu8.com/S/PGLC\">Pershing</a> <a href=\"https://laohu8.com/S/SQ\">Square</a> said it would take a large stake in <a href=\"https://laohu8.com/S/UVV\">Universal</a>, which is majority owned by Vivendi, instead.</p><p><blockquote>其他股票中，巴黎上市公司Vivendi下跌1.2%。<a href=\"https://laohu8.com/S/PGLC\">潘兴</a><a href=\"https://laohu8.com/S/SQ\">平方</a>由对冲基金经理比尔·阿克曼(Bill Ackman)领导的空白支票公司Tontine表示，已放弃购买10%股份的计划<a href=\"https://laohu8.com/S/UVV\">普遍的</a>音乐团体。阿克曼先生的<a href=\"https://laohu8.com/S/PGLC\">潘兴</a><a href=\"https://laohu8.com/S/SQ\">平方</a>表示将持有大量股份<a href=\"https://laohu8.com/S/UVV\">普遍的</a>相反，维旺迪拥有多数股权。</blockquote></p><p> Italian luxury fashion house Ermenegildo Zegna will go public on the <a href=\"https://laohu8.com/S/NYRT\">New York</a> Stock Exchange later this year as part of a tie-up agreement with special-purpose acquisition corporation Investindustrial Acquisition. Shares of the SPAC, whose chairman is former UBS CEO Sergio Ermotti, edged down before the bell in <a href=\"https://laohu8.com/S/NGD\">New</a> York.</p><p><blockquote>意大利奢侈时装公司Ermenegildo Zegna将于<a href=\"https://laohu8.com/S/NYRT\">纽约</a>作为与特殊目的收购公司Investindustrial Acquisition合作协议的一部分，今年晚些时候在证券交易所上市。SPAC的董事长是瑞银前首席执行官塞尔吉奥·埃尔莫蒂(Sergio Ermotti)，其股价在盘前小幅下跌<a href=\"https://laohu8.com/S/NGD\">新的</a>约克。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/PSTH.U\">Pershing Square Tontine Holdings</a>:&nbsp;</b>Billionaire investor William Ackman’s <a href=\"https://laohu8.com/S/PSTH\">Pershing Square Tontine Holdings</a> has dropped a deal to buy 10% of Vivendi’s Universal Music Group (UMG), the label that is home to musicians such as Taylor Swift.</p><p><blockquote><b><a href=\"https://laohu8.com/S/PSTH.U\">潘兴广场通天控股</a>: </b>亿万富翁投资者威廉·阿克曼的<a href=\"https://laohu8.com/S/PSTH\">潘兴广场通天控股</a>放弃了收购维旺迪环球音乐集团(UMG)10%股份的交易，该公司是泰勒·斯威夫特(Taylor Swift)等音乐家的大本营。</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> :&nbsp;</b>On Saturday, Elon Musk's Tesla Inc launched its Full Self-Driving (FSD) subscription for its driver-assistance software package for $199 per month, Reuters reports. Tesla offered the Full Self-Driving package for a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time payment of $10,000. The FSD feature would cost $99 a month for those who previously bought the Enhanced Autopilot package. According to Tesla, vehicle owners can cancel their monthly FSD subscription at any time. Tesla fell 2.28% in the premarket&nbsp;trading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>: </b>据路透社报道，周六，Elon Musk旗下的特斯拉公司推出了其驾驶员辅助软件包的全自动驾驶(FSD)订阅，每月价格为199美元。特斯拉提供全自动驾驶套件<a href=\"https://laohu8.com/S/AONE.U\">一</a>-10,000美元的定期付款。对于那些之前购买了增强型Autopilot套件的人来说，FSD功能每月的费用为99美元。据特斯拉称，车主可以随时取消每月的FSD订阅。特斯拉盘前交易中下跌2.28%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e2886cd35d2ac9d0ed7cf4d9056c678a\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b><a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>:&nbsp;</b>Xpeng Undercuts Tesla With P5 Sedan Priced Starting $24.7K, EV Maker Reports High Demand As It Begins Taking Pre-Order.Xpeng fell 2.13% in the premarket&nbsp;trading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>: </b>小鹏汽车P5轿车起价为2.47万美元，低于特斯拉，电动汽车制造商报告称，随着开始接受预订，需求很高。小鹏汽车在盘前交易中下跌2.13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bbc962c414c77edbe87597c447261cac\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b><a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a>: </b>Johnson &amp; Johnson (JNJ.N) is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, according to seven people familiar with the matter.J&amp;J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer. The plaintiffs include women suffering from ovarian cancer and others battling mesothelioma.</p><p><blockquote><b><a href=\"https://laohu8.com/S/JNJ\">强生公司</a>：</b>强生公司（JNJ。据七位知情人士透露，N）正在探索一项计划，将广泛的婴儿爽身粉诉讼的责任转移到一家新成立的企业中，然后该企业将寻求破产保护。强生面临数万名原告的法律诉讼指控其婴儿爽身粉和其他滑石粉产品含有石棉并导致癌症。原告包括患有卵巢癌的女性和其他与间皮瘤作斗争的女性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ea35138cf94432dfdcd08c1528620d42\" tg-width=\"642\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In Asia, technology giants <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> and Tencent weighed on Hong Kong’s Hang Seng Index, which had lost 1.8% by the close of trading. The losses came after the Biden administration on Friday warned <a href=\"https://laohu8.com/S/AFG\">American</a> companies about the increasingrisks of operating in the financial hub.</p><p><blockquote>在亚洲，科技巨头<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>腾讯控股令香港恒生指数承压，截至收盘，香港股市已下跌1.8%。这些损失是在拜登政府周五警告之后发生的<a href=\"https://laohu8.com/S/AFG\">美国的</a>公司担心在金融中心运营的风险不断增加。</blockquote></p><p> Japan’s Nikkei 225 dropped 1.3%. More athletes and staff members attending theTokyo Olympics have tested positive, while cases are surging in Indonesia. Sydney, Australia’s most populous city, is under lockdown because of a delta outbreak.</p><p><blockquote>日本日经225指数下跌1.3%。越来越多参加东京奥运会的运动员和工作人员检测呈阳性，而印度尼西亚的病例也在激增。澳大利亚人口最多的城市悉尼因三角洲疫情而处于封锁状态。</blockquote></p><p> David Chao, a market strategist at <a href=\"https://laohu8.com/S/IVZ\">Invesco</a>, said the spread of the delta variant across Asia, coupled with low vaccination rates and expectations of additional social-distancing measures, has “taken wind out of the sail for many investors expecting an economic rebound” in the region.</p><p><blockquote>David Chao，市场策略师<a href=\"https://laohu8.com/S/IVZ\">景顺</a>表示，德尔塔变异毒株在亚洲的蔓延，加上疫苗接种率低以及对额外社交距离措施的预期，“让许多期待该地区经济反弹的投资者失去了动力”。</blockquote></p><p> Mr. Chao said he expected investors to continue to pull funds out of Asian stocks and shift them to shares in developed markets with high inoculation rates, such as the U.S. and U.K.</p><p><blockquote>赵先生表示，他预计投资者将继续将资金从亚洲股市撤出，转向美国和英国等接种率高的发达市场的股票。</blockquote></p><p> <b>In FX, </b>the pound slumped to a three-month low and the FTSE 100 tumbled 1.9% after the U.K. lifted remaining virus curbs in England even as virus cases increased the most in the world, signaling the challenge nations face to fully reopen their economies. Australia’s dollar dropped to a seven-month low after state governments tightened and extended lockdown measures to contain the latest outbreak. The yen strengthened versus all of its Group-of-10 peers. Investors are seeking protection in currency options; data from the Depository Trust &amp; Clearing Corporation show that volumes are running 10% higher than recent averages overall, with demand for Aussie and yuan exposure running at almost double the averages while the pound is almost at triple.</p><p><blockquote><b>在FX中，</b>尽管病毒病例增幅居全球之首，但英国取消了英格兰剩余的病毒限制措施，英镑跌至三个月低点，富时100指数下跌1.9%，这表明各国在全面重新开放经济方面面临挑战。在州政府收紧并延长封锁措施以遏制最新疫情后，澳元跌至七个月低点。日元兑所有10国集团货币走强。投资者正在寻求货币期权的保护；存管信托与清算公司的数据显示，交易量总体上比近期平均水平高出10%，对澳元和人民币敞口的需求几乎是平均水平的两倍，而英镑几乎是平均水平的三倍。</blockquote></p><p> <b>Oil extended losses, </b>with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.</p><p><blockquote><b>石油扩大损失，</b>在昨天的OPEC+协议之后，WTI原油期货下跌3.8%，至70美元/桶以下，许多人认为这是看涨的，但CTA今天上午正在进行批发清算。</blockquote></p><p> Gold, a perceived safe haven asset, was also down sliding to just above $1,800. On Sunday OPEC and its allies struck a deal that allows for monthly supply hikes of 400k b/d, putting the group back in control of the crude market. Oil refiners in Asia stayed on the sidelines awaiting price cuts after the OPEC+ deal.</p><p><blockquote>被视为避险资产的黄金也下跌至略高于1,800美元。周日，石油输出国组织及其盟友达成协议，允许每月增加40万桶/日的供应量，使该组织重新控制原油市场。欧佩克+达成协议后，亚洲炼油商观望等待降价。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135910714","content_text":"The morning sell-off in stock futures is accelerating.\nPershing Square Tontine Holdings, Tesla Motor, XPeng Inc. made the biggest moves in premarket trading.\nOil extended losses, with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.\n\n(July 19) U.S. stock futures, oil prices and government bond yields slid, amid anxiety that the spread of the Delta coronavirus variant would hold back the global economy.\nAt 8:09 a.m. ET,Futures for the S&P 500 fell 1.11%, signaling opening losses for the broad stock-market gauge after itsnapped a three-week winning streak Friday. Contracts for the Dow Jones Industrial Average dropped 1.35%. Futures on the technology-focused Nasdaq-100 fell 0.89%.\n\nSurging cases of the coronavirusin many parts of the world, including highly-vaccinated countries such as the U.K., have prompted investors to dial down their expectations of economic growth in the coming months. Some also are concerned that a steep rise in prices will pinch consumption and prompt central banks to withdraw stimulus, creating an environment of lower growth and higher inflation in which stocks tend to struggle.\n“What you’re seeing is a sense that the consumer is starting to be affected quite significantly” by the jump in prices, said Sebastien Galy, senior macro strategist at Nordea Asset Management.\nBusiness reopenings, rising vaccination rates and government pandemic aid have helped propel rapid gains in consumer spending—the economy’s main driver. But surveys show that inflation, which accelerated to a 13-year high in the U.S. in June, is starting toknock consumers’ confidencein their ability to keep spending, Mr. Galy said.\nAirlines and oil-and-gas companies were among the worst performers ahead of the bell in New York.Occidental Petroleumlost 4.1%, ConocoPhillips 3.6%,American Airlines Group2.3% and $Delta Air Lines(DAL)$ 2.2%.\nOne bright spot wasFive9,which jumped 8.3% on news thatZoom Video Communicationsplans to buy the provider of cloud-based customer-service software in a deal valuing the firm at $14.7 billion. Zoom shares slipped 2% in premarket trading.\nWorries about the economic effects of the virus were evident in a broad retreat in global markets. The regional Stoxx Europe 600 slid 1.9%, led lower by shares of economically sensitive travel, leisure and commodities companies.\nPotential beneficiaries of a prolonged pandemic including food-delivery companiesHelloFresh,Deliverooand Just Eat Takeaway.com ticked higher.\nAmong other stocks, Paris-listedVivendifell 1.2%. Pershing Square Tontine, a blank-check company led by hedge-fund manager Bill Ackman, said it had dropped plans topurchase a 10% stakein Universal Music Group. Mr. Ackman’s Pershing Square said it would take a large stake in Universal, which is majority owned by Vivendi, instead.\nItalian luxury fashion house Ermenegildo Zegna will go public on the New York Stock Exchange later this year as part of a tie-up agreement with special-purpose acquisition corporation Investindustrial Acquisition. Shares of the SPAC, whose chairman is former UBS CEO Sergio Ermotti, edged down before the bell in New York.\nStocks making the biggest moves premarket:\nPershing Square Tontine Holdings: Billionaire investor William Ackman’s Pershing Square Tontine Holdings has dropped a deal to buy 10% of Vivendi’s Universal Music Group (UMG), the label that is home to musicians such as Taylor Swift.\nTesla Motors : On Saturday, Elon Musk's Tesla Inc launched its Full Self-Driving (FSD) subscription for its driver-assistance software package for $199 per month, Reuters reports. Tesla offered the Full Self-Driving package for a one-time payment of $10,000. The FSD feature would cost $99 a month for those who previously bought the Enhanced Autopilot package. According to Tesla, vehicle owners can cancel their monthly FSD subscription at any time. Tesla fell 2.28% in the premarket trading.\n\nXPeng Inc.: Xpeng Undercuts Tesla With P5 Sedan Priced Starting $24.7K, EV Maker Reports High Demand As It Begins Taking Pre-Order.Xpeng fell 2.13% in the premarket trading.\n\nJohnson & Johnson: Johnson & Johnson (JNJ.N) is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, according to seven people familiar with the matter.J&J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer. The plaintiffs include women suffering from ovarian cancer and others battling mesothelioma.\n\nIn Asia, technology giants Alibaba and Tencent weighed on Hong Kong’s Hang Seng Index, which had lost 1.8% by the close of trading. The losses came after the Biden administration on Friday warned American companies about the increasingrisks of operating in the financial hub.\nJapan’s Nikkei 225 dropped 1.3%. More athletes and staff members attending theTokyo Olympics have tested positive, while cases are surging in Indonesia. Sydney, Australia’s most populous city, is under lockdown because of a delta outbreak.\nDavid Chao, a market strategist at Invesco, said the spread of the delta variant across Asia, coupled with low vaccination rates and expectations of additional social-distancing measures, has “taken wind out of the sail for many investors expecting an economic rebound” in the region.\nMr. Chao said he expected investors to continue to pull funds out of Asian stocks and shift them to shares in developed markets with high inoculation rates, such as the U.S. and U.K.\nIn FX, the pound slumped to a three-month low and the FTSE 100 tumbled 1.9% after the U.K. lifted remaining virus curbs in England even as virus cases increased the most in the world, signaling the challenge nations face to fully reopen their economies. Australia’s dollar dropped to a seven-month low after state governments tightened and extended lockdown measures to contain the latest outbreak. The yen strengthened versus all of its Group-of-10 peers. Investors are seeking protection in currency options; data from the Depository Trust & Clearing Corporation show that volumes are running 10% higher than recent averages overall, with demand for Aussie and yuan exposure running at almost double the averages while the pound is almost at triple.\nOil extended losses, with WTI crude futures tumbling 3.8% to below $70/barrel after yesterday's OPEC+ deal which many saw as bullish but not CTAs which this morning are engaged in wholesale liquidation.\nGold, a perceived safe haven asset, was also down sliding to just above $1,800. On Sunday OPEC and its allies struck a deal that allows for monthly supply hikes of 400k b/d, putting the group back in control of the crude market. Oil refiners in Asia stayed on the sidelines awaiting price cuts after the OPEC+ deal.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":310,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173236687,"gmtCreate":1626661377749,"gmtModify":1633925143537,"author":{"id":"3571303297635750","authorId":"3571303297635750","name":"562e17ba","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571303297635750","authorIdStr":"3571303297635750"},"themes":[],"htmlText":"Like. Thank you.","listText":"Like. Thank you.","text":"Like. Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173236687","repostId":"1111084715","repostType":4,"isVote":1,"tweetType":1,"viewCount":397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179625772,"gmtCreate":1626522034496,"gmtModify":1633926069307,"author":{"id":"3571303297635750","authorId":"3571303297635750","name":"562e17ba","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571303297635750","authorIdStr":"3571303297635750"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179625772","repostId":"146135203","repostType":1,"repost":{"id":146135203,"gmtCreate":1626057999999,"gmtModify":1631899069481,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"【老虎财报季】写财报分析，赢取老虎限量商务套装","htmlText":"参与《老虎财报季》赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。Q2财报季即将拉开序幕，美国六大银行将在本周率先公布财报，随后将迎来大家最关心的科技股财报。小虎君想邀请虎友们，分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，就有机会赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。【参与方式】 在“<a href=\"https://laohu8.com/RN?name=RNTheme&amp;page=/theme/special/discussion&amp;rndata={&quot;themeId&quot;:&quot;fa946d497d894de8863f2348305e2a7e&quot;}\" target=\"_blank\">老虎财报季</a>”主题下发帖，或者题目中包含“老虎财报季”等关键字分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，字数不少于300字。并<a target=\"_blank\" href=\"https://laohu8.com/U/36984908995200\">@小虎活动</a>、<a target=\"_blank\" href=\"https://laohu8.com/U/20722186463466\">@爱发红包的虎妞</a> 或者<a target=\"_blank\" href=\"https://laohu8.com/U/3514329116425907\">@小虎AV</a> 写什么？虎友们可以自由发挥！如果没有现成的idea，也可以参考以下模版： 关注公司的财报业绩（营收，净利润，主营业务表现，关键指标增长等） 公司基本面分析（包括主营业务分析、所属行业竞争优劣势、未来发展点等） 财报前后你是否有调整仓位？未来是否会继续投资？","listText":"参与《老虎财报季》赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。Q2财报季即将拉开序幕，美国六大银行将在本周率先公布财报，随后将迎来大家最关心的科技股财报。小虎君想邀请虎友们，分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，就有机会赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。【参与方式】 在“<a href=\"https://laohu8.com/RN?name=RNTheme&amp;page=/theme/special/discussion&amp;rndata={&quot;themeId&quot;:&quot;fa946d497d894de8863f2348305e2a7e&quot;}\" target=\"_blank\">老虎财报季</a>”主题下发帖，或者题目中包含“老虎财报季”等关键字分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，字数不少于300字。并<a target=\"_blank\" href=\"https://laohu8.com/U/36984908995200\">@小虎活动</a>、<a target=\"_blank\" href=\"https://laohu8.com/U/20722186463466\">@爱发红包的虎妞</a> 或者<a target=\"_blank\" href=\"https://laohu8.com/U/3514329116425907\">@小虎AV</a> 写什么？虎友们可以自由发挥！如果没有现成的idea，也可以参考以下模版： 关注公司的财报业绩（营收，净利润，主营业务表现，关键指标增长等） 公司基本面分析（包括主营业务分析、所属行业竞争优劣势、未来发展点等） 财报前后你是否有调整仓位？未来是否会继续投资？","text":"参与《老虎财报季》赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。Q2财报季即将拉开序幕，美国六大银行将在本周率先公布财报，随后将迎来大家最关心的科技股财报。小虎君想邀请虎友们，分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，就有机会赢取老虎限量商务套装，免佣卡，还有虎友们最最最喜欢的限量保温杯。【参与方式】 在“老虎财报季”主题下发帖，或者题目中包含“老虎财报季”等关键字分享你最看好的财报是哪家？说说为什么？你持有它吗？解读其最新业绩，发表你对公司的看法，字数不少于300字。并@小虎活动、@爱发红包的虎妞 或者@小虎AV 写什么？虎友们可以自由发挥！如果没有现成的idea，也可以参考以下模版： 关注公司的财报业绩（营收，净利润，主营业务表现，关键指标增长等） 公司基本面分析（包括主营业务分析、所属行业竞争优劣势、未来发展点等） 财报前后你是否有调整仓位？未来是否会继续投资？","images":[{"img":"https://static.tigerbbs.com/82e19e2adebbf2c25108f6926818deea","width":"1080","height":"648"},{"img":"https://static.tigerbbs.com/18f14b2fa2c5e868274e699566b71f54","width":"840","height":"540"},{"img":"https://static.tigerbbs.com/ac10aad89763946afd17f38ae564756a","width":"1084","height":"1086"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/146135203","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":4,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}