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RogerHHY

RogerHHY

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2021-11-04

$Histogenics(OCGN)$It’s just selling the news. Just wait, fundermentals will eventually go up. It’s just the beginning

2021-10-25

$Phunware, Inc.(PHUN)$When there is down, therewill be an up.

2021-03-13

$OCEANUS GROUP LIMITED(579.SI)$TO THE MOON

2021-03-15

Good

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2021-11-03

$Histogenics(OCGN)$Chill guys remember what you are holding for

2021-04-16

Ok

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2021-03-24

Nice

Why SPACs Won’t Replace Traditional IPOs -- and Vice Versa<blockquote>为什么SPAC不会取代传统IPO——反之亦然</blockquote>

2021-03-18

To the moon

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2021-05-27

Ok

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2021-05-10

Ok

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It’s just the beginning","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/848975399","isVote":1,"tweetType":1,"viewCount":2565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841972134,"gmtCreate":1635873373887,"gmtModify":1635873373957,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/OCGN\">$Histogenics(OCGN)$</a>Chill guys remember what you are holding for","listText":"<a href=\"https://laohu8.com/S/OCGN\">$Histogenics(OCGN)$</a>Chill guys remember what you are holding for","text":"$Histogenics(OCGN)$Chill guys remember what you are holding for","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841972134","isVote":1,"tweetType":1,"viewCount":2901,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":856829177,"gmtCreate":1635169569168,"gmtModify":1635169577725,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PHUN\">$Phunware, Inc.(PHUN)$</a>When there is down, therewill be an up.&nbsp;","listText":"<a href=\"https://laohu8.com/S/PHUN\">$Phunware, Inc.(PHUN)$</a>When there is down, therewill be an up.&nbsp;","text":"$Phunware, Inc.(PHUN)$When there is down, therewill be an up.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/856829177","isVote":1,"tweetType":1,"viewCount":2555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":132902626,"gmtCreate":1622053620665,"gmtModify":1634184317758,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/132902626","repostId":"1107926084","repostType":4,"repost":{"id":"1107926084","kind":"news","pubTimestamp":1622042301,"share":"https://www.laohu8.com/m/news/1107926084?lang=zh_CN&edition=full","pubTime":"2021-05-26 23:18","market":"us","language":"en","title":"June Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead<blockquote>六月展望：通胀、就业和美联储将成为未来一个月的焦点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107926084","media":"benzinga","summary":"A lot’s happening in June, but the most intense focus could be on a single event the afternoon of Ju","content":"<p><div> A lot’s happening in June, but the most intense focus could be on a single event the afternoon of June 16.That’s when the Federal Open Market Committee (FOMC) wraps up its June meeting and Fed ...</p><p><blockquote><div>六月发生了很多事情，但最激烈的焦点可能是6月16日下午的一件事。届时联邦公开市场委员会(FOMC)将结束6月份会议，美联储...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>June Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead<blockquote>六月展望：通胀、就业和美联储将成为未来一个月的焦点</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJune Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead<blockquote>六月展望：通胀、就业和美联储将成为未来一个月的焦点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-26 23:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> A lot’s happening in June, but the most intense focus could be on a single event the afternoon of June 16.That’s when the Federal Open Market Committee (FOMC) wraps up its June meeting and Fed ...</p><p><blockquote><div>六月发生了很多事情，但最激烈的焦点可能是6月16日下午的一件事。届时联邦公开市场委员会(FOMC)将结束6月份会议，美联储...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107926084","content_text":"A lot’s happening in June, but the most intense focus could be on a single event the afternoon of June 16.That’s when the Federal Open Market Committee (FOMC) wraps up its June meeting and Fed Chairman Jerome Powell addresses reporters. While a Powell press conference is important whenever it happens, this one has more significance than usual because of what the Fed said at its April meeting.Minutes from that gathering raised the chance of the Fed beginning to plan some sort of “taper” if the economy keeps galloping along. Remember, the Fed’s been snapping up $120 billion in Treasury bonds and mortgage-backed securities each month to provide liquidity and keep rates low during the pandemic, but has said it will begin “tapering,” or slowing the pace of those purchases, if certain employment parameters are met. Chances of a taper happening in the relatively near future suddenly appeared more likely based on the following words in the April minutes:“A number of participants suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.”That statement appeared to surprise some analysts. They hadn’t expected the FOMC to publicly ponder actual tapering until possibly later this year. Those words, along with a string of robust economic data and earnings numbers, might have investors on tenterhooks waiting to hear the Fed’s fresh thinking on June 16. Will it give any hint of how long it’s willing to let things continue rolling full steam ahead? Just how worried are Powell and company about rising prices?Any sign that the Fed is ready to taper earlier than expected could cause Treasury yields to rise and potentially put pressure on the stock market.As The Fed Turns...It’s hard to blame Fed officials for wondering if the economy might be on the verge of overheating. After all, Q1 gross domestic product (GDP) grew more than 6%, the highest in decades. Layoffs appear to be trending much lower, if weekly initial jobless claims are correct, and many companies said during Q1 earnings season that they’re having supply chain issues even while paying more for the raw materials they need. This raises concerns about producer inflation making its way to consumers.The final straw might have been April’s consumer price index (CPI), which showed more than 4% year-over-year growth, the highest in a decade. Core month-over-month CPI saw its sharpest rise since April 1982, when President Reagan was serving his first term and Powell was a recent law school graduate.Though the Fed didn’t have all of this data in hand when it met in late April, the signs were already pointing toward major economic growth and price pressure, putting the Fed between the proverbial rock and a hard place.Powell has emphasized the importance of getting millions back to work, with unemployment still around 6% more than a year after the pandemic began. Earlier this year, the Fed made it very clear it would tolerate inflation above its 2% long-term target until employment got back on track, but this risks the chance of price pressure hurting consumers and companies. Corporate margins look very positive right now coming off huge Q1 earnings growth, but inflation over coming months could change that, perhaps resulting in pressure on stocks.There could be more Fed remarks in the next week or two, but then the pre-meeting silent period begins and June 16 looms. Powell is almost certainly going to face questions about those April meeting minutes.Tug-Of-War Persists Between Growth And ValueAll this focus on the Fed turns attention to the benchmark 10-year Treasury yield, a major metric for economic growth, inflation, and interest rate anticipation. It rallied from near historic lows of around 0.95% at the start of the year to a late-March high of 1.78% as the economy improved and inflation fears gathered. It then pulled back and hung around near 1.6% for a couple of months, trading at 1.61% as of late May.Anywhere above 1.75% might look interesting now, and 2% might spark some fear in the market. The rally in yields earlier this year really helped snuff out the Info Tech rally, since many of those stocks are priced in part based on anticipation of future growth, something higher borrowing costs might compress.That helped lead to the current tug-of-war between value sectors like Financials and Energy that tend to do better in a recovering economy where inflation is rising and Growth ones like Tech that outperformed during the shutdowns of 2020. The battle has raged most of the last two months, though there are now signs of at least some investors beginning to bifurcate Tech between the huge, mature companies like AppleAAPL 0.09%and MicrosoftMSFT 0.05%and smaller firms more dependent on keeping future growth paths skyrocketing. The AAPLs and MSFTs of the world have often led the broader market higher the last few years, and could be less vulnerable then smaller Tech firms if interest rates do start to rise.FIGURE 1:  MAY MALAISE.After a strong start to 2021, the S&P 500 Index (SPX—candlestick) had some struggles in May amid inflation worries. The Nasdaq 100 (NDX—purple line) has had a much more checkered year as some investors favored value over growth sectors, and continued to be weak heading into June. Data Sources: S&P Dow Jones Indices, Nasdaq. Chart source: The thinkorswim® platform. For illustrative purposes only. Past performance does not guarantee future results.But we may be putting the cart ahead of the horse, so to speak. The April jobs growth number of 266,000 was way, way below Wall Street’s expectations for more than 700,000 and some bullish predictions of a million. That puts focus squarely on the May jobs growth number, due June 4. Another weak jobs reading for May might take some pressure off of the Fed and rates, with “bad news” possibly becoming “good news” for stocks, so to speak.Remember that different U.S. states were in different reopening modes in April, which may have affected that number. It’s possible some of the earlier job growth won’t show up until May, or the April number could be revised upward once things become clearer. A lot of what Powell says and does on June 16 will likely reflect the jobs report, along with inflation data like the May 28 personal consumption expenditure (PCE) prices, which the Fed is known to follow closely.The May CPI report on June 10 is another key one to watch next month when it comes to inflation. The Fed will have all that material in hand by the time it meets, giving it a clearer perspective.Homebuilders, “Stay-At-Home” Stocks Among June Earnings ReportsThat’s a mouthful about the Fed, inflation, jobs, and yields. What about the corporate world?As we emerge from a Q1 earnings season where the average S&P 500 company recorded earnings per share growth of nearly 52%, according to Factset, you might think earnings aren’t a big calendar item in June. That’s only partially true. While we won’t see a big crush of earnings reports, there are some key ones to watch, especially in the home building sector where both Lennar and KB Home are expected to report during the month.The housing market has been red hot, so a couple of April data points that missed analysts’ expectations (existing home sales and housing starts) might not be too big a deal. Having said that, the economy’s reopening could take peoples’ attention away from home buying and give strength to companies that focus on experiences rather than products. It’s possible some of the strength in housing and home improvement got pulled forward by the pandemic, just as we saw demand for internet conferences and home exercise equipment pulled forward. Keep an eye on what LEN and KBH say about demand when they report.Zoom Video , Kroger , Chewy , and Slack are some other companies whose businesses saw a big impact from Covid and release earnings in June. Most of them benefitted from people staying at home, questions remain over how much of their recent growth in sales has been sustainable vs. “demand pulled forward.” Many of their shares have lost ground and investors are eager to hear how they plan to keep the fizz bubbling post-Covid. Meanwhile, Tech earnings are a bit scarce in the month ahead, but Oracle is expected to be on the June release calendar.Keeping Watch on Crypto, VolatilityLike it or not, cryptocurrency could also help determine the market’s direction in June. It seemed like bitcoin set some of the momentum in late May, though that’s not a permanent indicator by any stretch of the imagination. However, when the news flow gets quiet and people start looking for indicators on how to trade, bitcoin and other cryptocurrencies have been something many investors watch. The question is whether the stock market is starting to divorce itself more from cryptocurrency after huge swings in bitcoin prices recently.Volatility is another metric to watch. The Cboe Volatility Index(VIX) hung around near 20 in late May after a month where it seldom went below 18 or above 25. VIX typically spends a long time trading in specific ranges, so the next thing to check is whether the current range holds or if it steps up or down. A move higher in volatility, especially any prolonged stays above 25, would presumably reflect mounting investor uncertainty and worries about what’s ahead. If VIX falls below 20 and stays there awhile, it could point to a quiet summer.We haven’t mentioned Covid so far except in passing. That’s a good thing, because it means it’s not front and center the way it once was. As of late May, the U.S. seemed to be on very good footing thanks to vaccinations, with case counts falling to the lowest daily levels in nearly a year. No one knows if this will continue, but we can be hopeful.We can also hope that the current devastating impact of Covid in parts of Asia slows down in the month ahead. Right now, it appears that the situation there might be putting a bit of pressure on the blazing commodity markets amid worries about overseas demand for products like crude and copper. China also tried to clamp down on commodity prices in late May, saying it will move to reduce speculation.We started with inflation, so might as well end with it. The commodities market is another aspect of pricing pressure, especially for companies in the Materials, Information Technology, Transport, and Industrial sectors. Costs rose sharply so far this year for many of the core products they use, but if commodities continue to level off or even fall in June, that could relieve some of the pressure on companies and the Fed. Whether that happens could be determined by progress against the pandemic the next few weeks in places like India, Japan, and South Korea.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132902393,"gmtCreate":1622053573812,"gmtModify":1634184318001,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/132902393","repostId":"2138143105","repostType":4,"isVote":1,"tweetType":1,"viewCount":1613,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132906558,"gmtCreate":1622053544674,"gmtModify":1634184318245,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/132906558","repostId":"2138143109","repostType":4,"isVote":1,"tweetType":1,"viewCount":1698,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190851910,"gmtCreate":1620612086930,"gmtModify":1634197715027,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190851910","repostId":"1108748291","repostType":4,"repost":{"id":"1108748291","kind":"news","pubTimestamp":1620611988,"share":"https://www.laohu8.com/m/news/1108748291?lang=zh_CN&edition=full","pubTime":"2021-05-10 09:59","market":"us","language":"en","title":"Colonial Pipeline Hackers Stole Data on Thursday, Ahead Of Shutdown<blockquote>Colonial Pipeline黑客周四在关闭前窃取了数据</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1108748291","media":"benzinga","summary":"Investigators are looking at a group of hackers called DarkSide, who seem to be behind the cyberatta","content":"<p><div> Investigators are looking at a group of hackers called DarkSide, who seem to be behind the cyberattack on Colonial Pipeline, which temporarily halted its pipeline operations on Friday.What Happened:...</p><p><blockquote><div>调查人员正在调查一个名为DarkSide的黑客组织，他们似乎是对Colonial Pipeline进行网络攻击的幕后黑手，该公司周五暂时停止了管道运营。发生了什么：...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21026280/colonial-pipeline-hackers-stole-data-on-thursday-ahead-of-shutdown-bloomberg\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21026280/colonial-pipeline-hackers-stole-data-on-thursday-ahead-of-shutdown-bloomberg\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Colonial Pipeline Hackers Stole Data on Thursday, Ahead Of Shutdown<blockquote>Colonial Pipeline黑客周四在关闭前窃取了数据</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\">\nColonial Pipeline Hackers Stole Data on Thursday, Ahead Of Shutdown<blockquote>Colonial Pipeline黑客周四在关闭前窃取了数据</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-10 09:59</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Investigators are looking at a group of hackers called DarkSide, who seem to be behind the cyberattack on Colonial Pipeline, which temporarily halted its pipeline operations on Friday.What Happened:...</p><p><blockquote><div>调查人员正在调查一个名为DarkSide的黑客组织，他们似乎是对Colonial Pipeline进行网络攻击的幕后黑手，该公司周五暂时停止了管道运营。发生了什么：...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21026280/colonial-pipeline-hackers-stole-data-on-thursday-ahead-of-shutdown-bloomberg\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21026280/colonial-pipeline-hackers-stole-data-on-thursday-ahead-of-shutdown-bloomberg\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/05/21026280/colonial-pipeline-hackers-stole-data-on-thursday-ahead-of-shutdown-bloomberg\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/05/21026280/colonial-pipeline-hackers-stole-data-on-thursday-ahead-of-shutdown-bloomberg","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108748291","content_text":"Investigators are looking at a group of hackers called DarkSide, who seem to be behind the cyberattack on Colonial Pipeline, which temporarily halted its pipeline operations on Friday.What Happened:The cyberattack that led to the shutdown began on Thursday. The attackers stole a large amount of data from Colonial Pipeline before locking computers with ransomware and demanding payment, Bloomberg reports, citing people familiar with the matter.Ransomware is a type of malware designed to lock down systems by encrypting data, with the attackers then demanding payment to regain access.According to the investigators, the hackers took nearly 100 gigabytes of data from the Alpharetta, a Georgia-based company's network in two hours on Thursday.Bloomberg quoted people familiar with the investigation saying that the move was part of a double-extortion scheme. Besides threatening to keep the company’s information locked, hackers also threatened to leak the data to the internet unless they are paid a ransom.Colonial Pipeline took specific systems offline on Friday and temporarily halted all pipeline operations after learning about the cyberattack.Colonial would not say when it plans to reopen the pipeline,Reutersreported today.On Saturday, U.S. President Joe Biden was briefed on the incident, a White House spokesperson said, adding that the government is helping the company restore operations and prevent supply disruptions.The Department of Energy said it is monitoring potential impacts to the nation's energy supply.\"A shutdown lasting four or five days, for example, could lead to sporadic outages at fuel terminals along the U.S. East Coast that depend on the pipeline for deliveries,\" Reuters quoted Andrew Lipow, president of consultancy Lipow Oil Associates, as saying.Why It Matters:Colonial Pipeline is the biggest gasoline pipeline in the U.S., and the disruption could affect gasoline and diesel fuel supplies.The company's pipeline transports 2.5 million barrels each day, taking refined gasoline, diesel fuel and jet fuel from the Gulf Coast up to New York Harbor through 5,500 miles of pipelines.The shutdown is already hinting towards a spike in gasoline and diesel prices ahead of Memorial Day and the summer driving season.Bloombergreports that U.S. gasoline prices may surge to their highest since 2014. The price of gasoline hit a $3 average in October 2014. On Friday, the national average stood at $2.96 a gallon.Colonial Pipeline is a private company owned by CDPQ Colonial Partners, LP; IFM (US) Colonial Pipeline 2, LLC; KKR-Keats Pipeline Investors, LP; Koch Capital Investments Company, LLC; and Shell Midstream Operating, LLC, according to the company's website.Publicly traded parent companies in that mix include private equity giant KKR & Co and Royal Dutch Shell Plc.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190853852,"gmtCreate":1620612066776,"gmtModify":1634197715748,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190853852","repostId":"2134686276","repostType":4,"isVote":1,"tweetType":1,"viewCount":2221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107769258,"gmtCreate":1620540165274,"gmtModify":1634198138297,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/107769258","repostId":"1106882084","repostType":4,"isVote":1,"tweetType":1,"viewCount":2081,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376981458,"gmtCreate":1619080165674,"gmtModify":1634288712889,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/376981458","repostId":"1147263213","repostType":4,"repost":{"id":"1147263213","kind":"news","pubTimestamp":1619075516,"share":"https://www.laohu8.com/m/news/1147263213?lang=zh_CN&edition=full","pubTime":"2021-04-22 15:11","market":"us","language":"en","title":"Intel Reports Earnings Thursday. Here’s What to Know.<blockquote>英特尔周四公布财报。以下是需要了解的内容。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147263213","media":"Barrons","summary":"Weeks after Intel installed chief executive Pat Gelsinger and its rollout of a $20 billion plan to expand its manufacturing operations, the company is set to report its earnings.As part of the plan, Intel said it would once again license its x86 chip designs to other companies, and create a foundry services unit that would produce chips for third parties interested in paying Intel to fabricate semiconductors.Intel didn’t issue precise new financial guidance for the first quarter, but said it exp","content":"<p>Weeks after Intel installed chief executive Pat Gelsinger and its rollout of a $20 billion plan to expand its manufacturing operations, the company is set to report its earnings.</p><p><blockquote>在英特尔任命首席执行官帕特·基辛格(Pat Gelsinger)并推出200亿美元扩大制造业务的计划几周后，该公司将公布财报。</blockquote></p><p> Investors already have a solid idea of what the report, due after the close of trading on Thursday, will bring. When Gelsinger unveiled the company’s plans for the future in late March,Intel (ticker: INTC) said it expected full-year earnings of $4 a share from revenue of $76.5 billion. Including various adjustments, such as those related to Intel’s sale of its flash-memory business in 2020, EPS is likely to be $4.55, while revenue is expected to be $72 billion, the company said.</p><p><blockquote>投资者已经清楚地知道这份将于周四收盘后发布的报告将带来什么。当基辛格在3月底公布公司未来计划时，英特尔（股票代码：INTC）表示，预计全年营收为765亿美元，每股收益为4美元。该公司表示，包括各种调整，例如与英特尔在2020年出售闪存业务相关的调整，每股收益可能为4.55美元，而营收预计为720亿美元。</blockquote></p><p> As part of the plan, Intel said it would once again license its x86 chip designs to other companies, and create a foundry services unit that would produce chips for third parties interested in paying Intel to fabricate semiconductors.</p><p><blockquote>作为该计划的一部分，英特尔表示将再次将其x86芯片设计授权给其他公司，并创建一个代工服务部门，为有兴趣向英特尔支付制造半导体费用的第三方生产芯片。</blockquote></p><p> Intel didn’t issue precise new financial guidance for the first quarter, but said it expected results better than its prior forecast. Previously, Intel said it expected adjusted first-quarter earnings of $1.10 a share and revenue of $17.5 billion. The consensus forecast is for adjusted earnings of $1.15 a share from revenue of $17.74 billion.</p><p><blockquote>英特尔没有发布准确的第一季度新财务指引，但表示预计业绩好于之前的预测。此前，英特尔表示，预计第一季度调整后每股收益为1.10美元，营收为175亿美元。市场普遍预测调整后每股收益为1.15美元，营收为177.4亿美元。</blockquote></p><p> Susquehanna Financial Group analyst Christopher Rolland,who called the company’s full-year guidance “underwhelming,” said he is expecting investors to focus on Gelsinger’s long-term plans for the company, and to look for more details about Intel’s next generation chip-making technology. According to the analyst’s data sources, notebook sales were strong in the first quarter, but it is less clear what’s coming through the rest of the year.</p><p><blockquote>萨斯奎哈纳金融集团分析师克里斯托弗·罗兰称该公司的全年指引“平淡无奇”，他表示，他预计投资者将关注基辛格对该公司的长期计划，并寻找有关英特尔下一代芯片制造技术的更多细节。根据分析师的数据来源，第一季度笔记本电脑销售强劲，但不太清楚今年剩余时间会发生什么。</blockquote></p><p> Analysts predict that Intel’s client computing segment, which includes notebook sales, will report first-quarter revenue of $10.02 billion. That is the company’s largest segment, followed by the data center operation, which is expected to report revenue of $5.84 billion.</p><p><blockquote>分析师预测，包括笔记本销售在内的英特尔客户端计算部门第一季度营收将达到100.2亿美元。这是该公司最大的部门，其次是数据中心业务，预计收入为58.4亿美元。</blockquote></p><p> Despite Intel’s decision to double down on its manufacturing capabilities, BMO Capital Markets analyst Ambrish Srivastava wrote in a client note Monday that he isn’t expecting executives to offer details about its goals, and their effect on Intel’s financial performance.</p><p><blockquote>尽管英特尔决定加倍提高其制造能力，但BMO资本市场分析师Ambrish Srivastava周一在一份客户报告中写道，他预计高管们不会提供有关其目标及其对英特尔财务业绩影响的详细信息。</blockquote></p><p> Still, Srivastava said, investors should watch closely for commentary about the impact to the company’s capital spending, profit, and free cash flow, among other things.</p><p><blockquote>不过，斯里瓦斯塔瓦表示，投资者应密切关注有关对公司资本支出、利润和自由现金流等影响的评论。</blockquote></p><p> Intel’s report arrives amid a global shortage of semiconductors that is hurting production of goods ranging from appliances to cars and videogame consoles. Gelsinger has previously told&nbsp;<i>Barron’s</i> that he expects the chip shortage to last two years.</p><p><blockquote>英特尔的报告发布之际，全球半导体短缺正在损害从电器到汽车和视频游戏机等商品的生产。基辛格此前曾表示<i>巴伦周刊</i>他预计芯片短缺将持续两年。</blockquote></p><p> Of the analysts that cover Intel, 43% rate shares at Buy, 34% have Hold ratings, and 23% rate the stock at Sell. The average target for the stock price is $68.71, which implies a return of 8.6%.</p><p><blockquote>在关注英特尔的分析师中，43%的分析师将该股评级为买入，34%的分析师将该股评级为持有，23%的分析师将该股评级为卖出。股价的平均目标为68.71美元，这意味着回报率为8.6%。</blockquote></p><p> Intel stock advanced 1.6% to $63.70 in Wednesday trading. Shares in the chip maker have gained 12% in the past year, while the PHLX Semiconductor index, or Sox, has doubled.</p><p><blockquote>周三交易中，英特尔股价上涨1.6%，至63.70美元。这家芯片制造商的股价在过去一年上涨了12%，而PHLX半导体指数(Sox)则翻了一番。</blockquote></p><p> Rolland pointed out that since Intel’s most recent quarterly report, its stock has gained 14%, while the Sox rose 5.8%. The analyst said that outperformance may indicate that expectations for the earnings are high, a potential negative for the stock.</p><p><blockquote>Rolland指出，自英特尔发布最新季度报告以来，其股价已上涨14%，而Sox指数上涨5.8%。该分析师表示，优异的表现可能表明对盈利的预期很高，这对该股来说可能是负面的。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Intel Reports Earnings Thursday. Here’s What to Know.<blockquote>英特尔周四公布财报。以下是需要了解的内容。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIntel Reports Earnings Thursday. Here’s What to Know.<blockquote>英特尔周四公布财报。以下是需要了解的内容。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-22 15:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Weeks after Intel installed chief executive Pat Gelsinger and its rollout of a $20 billion plan to expand its manufacturing operations, the company is set to report its earnings.</p><p><blockquote>在英特尔任命首席执行官帕特·基辛格(Pat Gelsinger)并推出200亿美元扩大制造业务的计划几周后，该公司将公布财报。</blockquote></p><p> Investors already have a solid idea of what the report, due after the close of trading on Thursday, will bring. When Gelsinger unveiled the company’s plans for the future in late March,Intel (ticker: INTC) said it expected full-year earnings of $4 a share from revenue of $76.5 billion. Including various adjustments, such as those related to Intel’s sale of its flash-memory business in 2020, EPS is likely to be $4.55, while revenue is expected to be $72 billion, the company said.</p><p><blockquote>投资者已经清楚地知道这份将于周四收盘后发布的报告将带来什么。当基辛格在3月底公布公司未来计划时，英特尔（股票代码：INTC）表示，预计全年营收为765亿美元，每股收益为4美元。该公司表示，包括各种调整，例如与英特尔在2020年出售闪存业务相关的调整，每股收益可能为4.55美元，而营收预计为720亿美元。</blockquote></p><p> As part of the plan, Intel said it would once again license its x86 chip designs to other companies, and create a foundry services unit that would produce chips for third parties interested in paying Intel to fabricate semiconductors.</p><p><blockquote>作为该计划的一部分，英特尔表示将再次将其x86芯片设计授权给其他公司，并创建一个代工服务部门，为有兴趣向英特尔支付制造半导体费用的第三方生产芯片。</blockquote></p><p> Intel didn’t issue precise new financial guidance for the first quarter, but said it expected results better than its prior forecast. Previously, Intel said it expected adjusted first-quarter earnings of $1.10 a share and revenue of $17.5 billion. The consensus forecast is for adjusted earnings of $1.15 a share from revenue of $17.74 billion.</p><p><blockquote>英特尔没有发布准确的第一季度新财务指引，但表示预计业绩好于之前的预测。此前，英特尔表示，预计第一季度调整后每股收益为1.10美元，营收为175亿美元。市场普遍预测调整后每股收益为1.15美元，营收为177.4亿美元。</blockquote></p><p> Susquehanna Financial Group analyst Christopher Rolland,who called the company’s full-year guidance “underwhelming,” said he is expecting investors to focus on Gelsinger’s long-term plans for the company, and to look for more details about Intel’s next generation chip-making technology. According to the analyst’s data sources, notebook sales were strong in the first quarter, but it is less clear what’s coming through the rest of the year.</p><p><blockquote>萨斯奎哈纳金融集团分析师克里斯托弗·罗兰称该公司的全年指引“平淡无奇”，他表示，他预计投资者将关注基辛格对该公司的长期计划，并寻找有关英特尔下一代芯片制造技术的更多细节。根据分析师的数据来源，第一季度笔记本电脑销售强劲，但不太清楚今年剩余时间会发生什么。</blockquote></p><p> Analysts predict that Intel’s client computing segment, which includes notebook sales, will report first-quarter revenue of $10.02 billion. That is the company’s largest segment, followed by the data center operation, which is expected to report revenue of $5.84 billion.</p><p><blockquote>分析师预测，包括笔记本销售在内的英特尔客户端计算部门第一季度营收将达到100.2亿美元。这是该公司最大的部门，其次是数据中心业务，预计收入为58.4亿美元。</blockquote></p><p> Despite Intel’s decision to double down on its manufacturing capabilities, BMO Capital Markets analyst Ambrish Srivastava wrote in a client note Monday that he isn’t expecting executives to offer details about its goals, and their effect on Intel’s financial performance.</p><p><blockquote>尽管英特尔决定加倍提高其制造能力，但BMO资本市场分析师Ambrish Srivastava周一在一份客户报告中写道，他预计高管们不会提供有关其目标及其对英特尔财务业绩影响的详细信息。</blockquote></p><p> Still, Srivastava said, investors should watch closely for commentary about the impact to the company’s capital spending, profit, and free cash flow, among other things.</p><p><blockquote>不过，斯里瓦斯塔瓦表示，投资者应密切关注有关对公司资本支出、利润和自由现金流等影响的评论。</blockquote></p><p> Intel’s report arrives amid a global shortage of semiconductors that is hurting production of goods ranging from appliances to cars and videogame consoles. Gelsinger has previously told&nbsp;<i>Barron’s</i> that he expects the chip shortage to last two years.</p><p><blockquote>英特尔的报告发布之际，全球半导体短缺正在损害从电器到汽车和视频游戏机等商品的生产。基辛格此前曾表示<i>巴伦周刊</i>他预计芯片短缺将持续两年。</blockquote></p><p> Of the analysts that cover Intel, 43% rate shares at Buy, 34% have Hold ratings, and 23% rate the stock at Sell. The average target for the stock price is $68.71, which implies a return of 8.6%.</p><p><blockquote>在关注英特尔的分析师中，43%的分析师将该股评级为买入，34%的分析师将该股评级为持有，23%的分析师将该股评级为卖出。股价的平均目标为68.71美元，这意味着回报率为8.6%。</blockquote></p><p> Intel stock advanced 1.6% to $63.70 in Wednesday trading. Shares in the chip maker have gained 12% in the past year, while the PHLX Semiconductor index, or Sox, has doubled.</p><p><blockquote>周三交易中，英特尔股价上涨1.6%，至63.70美元。这家芯片制造商的股价在过去一年上涨了12%，而PHLX半导体指数(Sox)则翻了一番。</blockquote></p><p> Rolland pointed out that since Intel’s most recent quarterly report, its stock has gained 14%, while the Sox rose 5.8%. The analyst said that outperformance may indicate that expectations for the earnings are high, a potential negative for the stock.</p><p><blockquote>Rolland指出，自英特尔发布最新季度报告以来，其股价已上涨14%，而Sox指数上涨5.8%。该分析师表示，优异的表现可能表明对盈利的预期很高，这对该股来说可能是负面的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/intel-reports-earnings-thursday-heres-what-to-know-51619037330?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔"},"source_url":"https://www.barrons.com/articles/intel-reports-earnings-thursday-heres-what-to-know-51619037330?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147263213","content_text":"Weeks after Intel installed chief executive Pat Gelsinger and its rollout of a $20 billion plan to expand its manufacturing operations, the company is set to report its earnings.\nInvestors already have a solid idea of what the report, due after the close of trading on Thursday, will bring. When Gelsinger unveiled the company’s plans for the future in late March,Intel (ticker: INTC) said it expected full-year earnings of $4 a share from revenue of $76.5 billion. Including various adjustments, such as those related to Intel’s sale of its flash-memory business in 2020, EPS is likely to be $4.55, while revenue is expected to be $72 billion, the company said.\nAs part of the plan, Intel said it would once again license its x86 chip designs to other companies, and create a foundry services unit that would produce chips for third parties interested in paying Intel to fabricate semiconductors.\nIntel didn’t issue precise new financial guidance for the first quarter, but said it expected results better than its prior forecast. Previously, Intel said it expected adjusted first-quarter earnings of $1.10 a share and revenue of $17.5 billion. The consensus forecast is for adjusted earnings of $1.15 a share from revenue of $17.74 billion.\nSusquehanna Financial Group analyst Christopher Rolland,who called the company’s full-year guidance “underwhelming,” said he is expecting investors to focus on Gelsinger’s long-term plans for the company, and to look for more details about Intel’s next generation chip-making technology. According to the analyst’s data sources, notebook sales were strong in the first quarter, but it is less clear what’s coming through the rest of the year.\nAnalysts predict that Intel’s client computing segment, which includes notebook sales, will report first-quarter revenue of $10.02 billion. That is the company’s largest segment, followed by the data center operation, which is expected to report revenue of $5.84 billion.\nDespite Intel’s decision to double down on its manufacturing capabilities, BMO Capital Markets analyst Ambrish Srivastava wrote in a client note Monday that he isn’t expecting executives to offer details about its goals, and their effect on Intel’s financial performance.\nStill, Srivastava said, investors should watch closely for commentary about the impact to the company’s capital spending, profit, and free cash flow, among other things.\nIntel’s report arrives amid a global shortage of semiconductors that is hurting production of goods ranging from appliances to cars and videogame consoles. Gelsinger has previously told Barron’s that he expects the chip shortage to last two years.\nOf the analysts that cover Intel, 43% rate shares at Buy, 34% have Hold ratings, and 23% rate the stock at Sell. The average target for the stock price is $68.71, which implies a return of 8.6%.\nIntel stock advanced 1.6% to $63.70 in Wednesday trading. Shares in the chip maker have gained 12% in the past year, while the PHLX Semiconductor index, or Sox, has doubled.\nRolland pointed out that since Intel’s most recent quarterly report, its stock has gained 14%, while the Sox rose 5.8%. The analyst said that outperformance may indicate that expectations for the earnings are high, a potential negative for the stock.","news_type":1,"symbols_score_info":{"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":1842,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370164698,"gmtCreate":1618563800414,"gmtModify":1634292057303,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/370164698","repostId":"1118328524","repostType":4,"isVote":1,"tweetType":1,"viewCount":407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352760660,"gmtCreate":1617005690850,"gmtModify":1634523187893,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/352760660","repostId":"1131499409","repostType":4,"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358442826,"gmtCreate":1616725445565,"gmtModify":1634524341258,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/358442826","repostId":"1130786077","repostType":4,"isVote":1,"tweetType":1,"viewCount":633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351541615,"gmtCreate":1616609319637,"gmtModify":1631889248909,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/WKEY\">$Wisekey International Holding AG(WKEY)$</a>Hold and to the moon","listText":"<a href=\"https://laohu8.com/S/WKEY\">$Wisekey International Holding AG(WKEY)$</a>Hold and to the moon","text":"$Wisekey International Holding AG(WKEY)$Hold and to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/351541615","isVote":1,"tweetType":1,"viewCount":637,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353782158,"gmtCreate":1616536953474,"gmtModify":1634525362990,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/353782158","repostId":"1102596742","repostType":4,"repost":{"id":"1102596742","kind":"news","pubTimestamp":1616514133,"share":"https://www.laohu8.com/m/news/1102596742?lang=zh_CN&edition=full","pubTime":"2021-03-23 23:42","market":"us","language":"en","title":"Why SPACs Won’t Replace Traditional IPOs -- and Vice Versa<blockquote>为什么SPAC不会取代传统IPO——反之亦然</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1102596742","media":"TheStreet","summary":"Will SPACs replace traditional IPOs? I think to a degree, they already have -- at least for now. Lon","content":"<p>Will SPACs replace traditional IPOs? I think to a degree, they already have -- at least for now. Longer-term, however, I think that traditional investment banking will survive, and that there will always be room for both methods of going public.</p><p><blockquote>SPAC会取代传统IPO吗？我认为在某种程度上，他们已经做到了——至少现在是这样。然而，从长远来看，我认为传统投资银行业务将会生存下来，而且这两种上市方式总会有空间。</blockquote></p><p> Part of why I say that traditional IPOs will survive is due to the sheer abundance of SPACs out there right now. Can they all find winning companies to merge with? What happens to those that don't find the right dance partner? Surely some will wither and die. But at the same time, the SPAC model is probably here to stay since it does simplify and expedite the whole process of going public and raising capital. And so I think that SPACs will survive even once we’re past the current manic stage.</p><p><blockquote>我说传统IPO将继续存在的部分原因是目前SPAC数量众多。他们都能找到获胜的公司合并吗？那些没有找到合适舞伴的人会怎么样？肯定会有一些枯萎死亡。但与此同时，SPAC模式可能会继续存在，因为它确实简化和加快了上市和筹集资金的整个过程。因此，我认为，即使我们度过了当前的狂躁阶段，SPAC也会生存下来。</blockquote></p><p> First, understand that IPOs and SPACs are really just two ways of getting a private company from point A (in need of capital) to point B (capital needs satisfied and trading publicly). As you'll see, it's really a matter of putting the wagon before the horse, or the horse before the wagon. And the same model doesn’t work for every private company in every situation.</p><p><blockquote>首先，要明白IPO和SPAC实际上只是让一家私营公司从A点（需要资本）到B点（满足资本需求并公开交易）的两种方式。正如您将看到的，这实际上是一个本末倒置或本末倒置的问题。同样的模式并不适用于所有情况下的每家私营公司。</blockquote></p><p> <b>The IPO</b></p><p><blockquote><b>IPO</b></blockquote></p><p> The traditional IPO, or Initial Public Offering, has been around since the beginning. This is what investment bankers, among other things, do for a living. As a former senior New York Stock Exchange floor trader who worked as part of the IPO team for what was considered the hottest investment bank during the internet bubble of the late 1990's, early 2000's, I have a great deal of experience in both supporting and in running the execution end of traditional IPOs, either from the booth, or in the crowd at the point of sale.</p><p><blockquote>传统的IPO或首次公开募股从一开始就存在。这就是投资银行家的谋生之道。作为一名前纽约证券交易所高级场内交易员，我曾在20世纪90年代末和21世纪初互联网泡沫期间被认为是最热门的投资银行的IPO团队工作，我在支持和运行传统IPO的执行端方面拥有丰富的经验，无论是在展位上，还是在销售点的人群中。</blockquote></p><p> In simplified form, IPOs involve private companies working with an investment bank or several investment banks to raise capital by “going public.\" The investment banks place a value on the private firm through a strenuous level of fundamental analysis, all the while gauging or trying to drum up demand. That part of the job is often referred to as a \"road show.\"</p><p><blockquote>简单地说，IPO是指私营公司与一家或几家投资银行合作，通过“上市”筹集资金。投资银行通过严格的基本面分析来评估私营公司的价值，同时衡量或试图吸引需求。这部分工作通常被称为“路演”。</blockquote></p><p> The private company must also register with the exchange where it plans to list, as well as the Securities and Exchange Commission. There is a lengthy process that must be followed, as well as numerous requirements, such as compliance around transparency in financial reporting, that must be met.</p><p><blockquote>私营公司还必须在其计划上市的交易所以及美国证券交易委员会注册。必须遵循一个漫长的过程，并且必须满足众多要求，例如财务报告透明度的合规性。</blockquote></p><p> The investment bank or banks, also known as the underwriters, may guarantee the IPO by purchasing the offering in a firm commitment and then selling the shares themselves in the secondary market. Without this \"firm\" commitment, the IPO is considered to be a \"best effort\" agreement, in which the underwriter sells the shares with no guarantee.</p><p><blockquote>投资银行，也称为承销商，可以通过以坚定的承诺购买发行股票，然后在二级市场上出售股票来保证IPO。如果没有这种“坚定”的承诺，IPO被认为是一种“尽力而为”的协议，承销商在没有担保的情况下出售股票。</blockquote></p><p> In my experience, the vast majority of IPOs are indeed “firm commitments” in which the underwriter takes on either the profit or loss (the risk) when selling shares after having priced the IPO. In the case of a \"best effort'' IPO, the investment bank is really more like a broker and advisor than a trader, and passes on to the formerly private company's shareholders the proceeds of those initial sales.</p><p><blockquote>根据我的经验，绝大多数IPO确实是“坚定承诺”，承销商在IPO定价后出售股票时承担利润或损失（风险）。在“尽最大努力”IPO的情况下，投资银行实际上更像是经纪人和顾问，而不是交易员，并将这些初始销售的收益转嫁给前私营公司的股东。</blockquote></p><p> <b>The SPAC</b></p><p><blockquote><b>SPAC</b></blockquote></p><p> The SPAC, or Special Purpose Acquisition Company, has become increasingly popular lately. Some of you may have heard of \"Blank Check Companies.\" This is another term for basically the same thing as a SPAC. The whole idea is simply to raise funds first and then target private companies to merge with afterwards.</p><p><blockquote>SPAC，即特殊目的收购公司，最近变得越来越受欢迎。有些人可能听说过“空白支票公司”。这是与特殊目的收购公司基本相同的另一个术语。整个想法只是先筹集资金，然后瞄准私营公司进行合并。</blockquote></p><p> In this way, the private firm is able to get in position to quickly merge with an already-public company, greatly simplifying the process of going public. At that point, the shareholders or owners of the private company can either redeem their stakes at the offering price, or accept stock in the newly-merged company, depending on their preference.</p><p><blockquote>通过这种方式，私营公司能够迅速与已经上市的公司合并，大大简化了上市过程。届时，私营公司的股东或所有者可以按照发行价赎回其股份，也可以接受新合并公司的股票，具体取决于他们的偏好。</blockquote></p><p> Why would a private company choose this route over a traditional IPO? There are several good reasons. The first is speed to market. By foregoing the whole \"road show\" process and merging with an already public firm, the company can now bypass all of the registrations and regulatory requirements. In addition, the risk of allowing investment bankers to price the deal is removed once the merger is agreed to.</p><p><blockquote>为什么私营公司会选择这条路线而不是传统的IPO？有几个很好的理由。首先是上市速度。通过放弃整个“路演”过程并与一家已经上市的公司合并，该公司现在可以绕过所有注册和监管要求。此外，一旦合并获得同意，允许投资银行家为交易定价的风险就消失了。</blockquote></p><p> What makes SPACs so attractive to private companies that might be in need of capital? It’s pretty simple --<i>in a traditional IPO, the private company chases the capital, but with a SPAC, the capital chases the private company</i>.</p><p><blockquote>是什么让SPAC对可能需要资本的私营公司如此有吸引力？很简单--<i>在传统的IPO中，私人公司追逐资本，但在SPAC中，资本追逐私人公司</i>.</blockquote></p><p> Notably, the SPAC structure is less risky to the owners of the targeted private company. The private company negotiates and agrees to a deal. Their work is now done, and the risk is transferred to the SPAC. This is great -- if you happen to run a highly sought-after private company in a suddenly hot industry. That is another reason why speed matters. No one ever knows how long the iron (or industry) stays hot.</p><p><blockquote>值得注意的是，SPAC结构对目标私营公司的所有者来说风险较小。私人公司谈判并同意一项交易。他们的工作现在已经完成，风险转移到了特殊目的收购公司。这很好——如果你碰巧在一个突然火爆的行业中经营一家备受追捧的私营公司。这是速度很重要的另一个原因。没有人知道铁（或工业）能保持多久。</blockquote></p><p></p><p> Now, for the less highly sought-after private business, there will always be a need for a traditional investment banker since these companies still need to raise capital and will need help finding investors. However, in the IPO model, the workload and the risk are more on the private company than they are on the bank -- at least until the issue is priced and regardless of whether a firm commitment has been made.</p><p><blockquote>现在，对于不太受欢迎的私营企业来说，总是需要传统的投资银行家，因为这些公司仍然需要筹集资金，并需要帮助寻找投资者。然而，在IPO模式中，私营公司的工作量和风险比银行更大——至少在发行定价之前，也无论是否做出了坚定的承诺。</blockquote></p><p> <b>The Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> In my opinion, there will always be room in this marketplace for both traditional investment bankers as well as SPACs. For now, amid a pandemic, which has largely taken the \"road show\" aspect out of the IPO, and as certain industries have taken off seemingly overnight, SPACs have taken as much as half of the market for new issues.</p><p><blockquote>在我看来，这个市场永远有传统投资银行家和SPAC的空间。目前，在疫情的情况下，IPO的“路演”部分在很大程度上消失了，而且某些行业似乎在一夜之间起飞，SPAC已经占据了多达一半的新股市场。</blockquote></p><p> That is the current environment and it is not only subject to change, it<i>will</i>change. As some SPACs fail to attract potentially hot new private companies, their ranks will thin. In a market that’s tougher than the current bull one, raising money ahead of a deal becomes more difficult, and the pendulum will swing back toward traditional investment bankers who provide access to a broader array of potential investors.</p><p><blockquote>这就是当前的环境，它不仅会发生变化，而且会发生变化<i>将会</i>变化。由于一些SPAC未能吸引潜在热门的新私营公司，它们的队伍将会变薄。在一个比当前牛市更加艰难的市场中，在交易前筹集资金变得更加困难，钟摆将回到传统投资银行家身上，他们可以接触到更广泛的潜在投资者。</blockquote></p><p> That said, these are two ways of going about doing the same thing. Neither is going away. Quality will succeed where success is deserved, and so quality investment bankers will outperform lower-quality SPACs and vice versa. Where quality is less obvious, there will be failure to last, or to find the right dance partner. The route chosen may depend on just how desirable, or choosy, the private company is able to be.</p><p><blockquote>也就是说，这是做同一件事的两种方式。两者都不会消失。质量将在值得成功的地方取得成功，因此优质投资银行家的表现将优于质量较低的SPAC，反之亦然。在质量不太明显的地方，就会有持续的失败，或者找不到合适的舞伴。所选择的路线可能取决于私营公司的受欢迎程度或挑剔程度。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why SPACs Won’t Replace Traditional IPOs -- and Vice Versa<blockquote>为什么SPAC不会取代传统IPO——反之亦然</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\">\nWhy SPACs Won’t Replace Traditional IPOs -- and Vice Versa<blockquote>为什么SPAC不会取代传统IPO——反之亦然</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-03-23 23:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Will SPACs replace traditional IPOs? I think to a degree, they already have -- at least for now. Longer-term, however, I think that traditional investment banking will survive, and that there will always be room for both methods of going public.</p><p><blockquote>SPAC会取代传统IPO吗？我认为在某种程度上，他们已经做到了——至少现在是这样。然而，从长远来看，我认为传统投资银行业务将会生存下来，而且这两种上市方式总会有空间。</blockquote></p><p> Part of why I say that traditional IPOs will survive is due to the sheer abundance of SPACs out there right now. Can they all find winning companies to merge with? What happens to those that don't find the right dance partner? Surely some will wither and die. But at the same time, the SPAC model is probably here to stay since it does simplify and expedite the whole process of going public and raising capital. And so I think that SPACs will survive even once we’re past the current manic stage.</p><p><blockquote>我说传统IPO将继续存在的部分原因是目前SPAC数量众多。他们都能找到获胜的公司合并吗？那些没有找到合适舞伴的人会怎么样？肯定会有一些枯萎死亡。但与此同时，SPAC模式可能会继续存在，因为它确实简化和加快了上市和筹集资金的整个过程。因此，我认为，即使我们度过了当前的狂躁阶段，SPAC也会生存下来。</blockquote></p><p> First, understand that IPOs and SPACs are really just two ways of getting a private company from point A (in need of capital) to point B (capital needs satisfied and trading publicly). As you'll see, it's really a matter of putting the wagon before the horse, or the horse before the wagon. And the same model doesn’t work for every private company in every situation.</p><p><blockquote>首先，要明白IPO和SPAC实际上只是让一家私营公司从A点（需要资本）到B点（满足资本需求并公开交易）的两种方式。正如您将看到的，这实际上是一个本末倒置或本末倒置的问题。同样的模式并不适用于所有情况下的每家私营公司。</blockquote></p><p> <b>The IPO</b></p><p><blockquote><b>IPO</b></blockquote></p><p> The traditional IPO, or Initial Public Offering, has been around since the beginning. This is what investment bankers, among other things, do for a living. As a former senior New York Stock Exchange floor trader who worked as part of the IPO team for what was considered the hottest investment bank during the internet bubble of the late 1990's, early 2000's, I have a great deal of experience in both supporting and in running the execution end of traditional IPOs, either from the booth, or in the crowd at the point of sale.</p><p><blockquote>传统的IPO或首次公开募股从一开始就存在。这就是投资银行家的谋生之道。作为一名前纽约证券交易所高级场内交易员，我曾在20世纪90年代末和21世纪初互联网泡沫期间被认为是最热门的投资银行的IPO团队工作，我在支持和运行传统IPO的执行端方面拥有丰富的经验，无论是在展位上，还是在销售点的人群中。</blockquote></p><p> In simplified form, IPOs involve private companies working with an investment bank or several investment banks to raise capital by “going public.\" The investment banks place a value on the private firm through a strenuous level of fundamental analysis, all the while gauging or trying to drum up demand. That part of the job is often referred to as a \"road show.\"</p><p><blockquote>简单地说，IPO是指私营公司与一家或几家投资银行合作，通过“上市”筹集资金。投资银行通过严格的基本面分析来评估私营公司的价值，同时衡量或试图吸引需求。这部分工作通常被称为“路演”。</blockquote></p><p> The private company must also register with the exchange where it plans to list, as well as the Securities and Exchange Commission. There is a lengthy process that must be followed, as well as numerous requirements, such as compliance around transparency in financial reporting, that must be met.</p><p><blockquote>私营公司还必须在其计划上市的交易所以及美国证券交易委员会注册。必须遵循一个漫长的过程，并且必须满足众多要求，例如财务报告透明度的合规性。</blockquote></p><p> The investment bank or banks, also known as the underwriters, may guarantee the IPO by purchasing the offering in a firm commitment and then selling the shares themselves in the secondary market. Without this \"firm\" commitment, the IPO is considered to be a \"best effort\" agreement, in which the underwriter sells the shares with no guarantee.</p><p><blockquote>投资银行，也称为承销商，可以通过以坚定的承诺购买发行股票，然后在二级市场上出售股票来保证IPO。如果没有这种“坚定”的承诺，IPO被认为是一种“尽力而为”的协议，承销商在没有担保的情况下出售股票。</blockquote></p><p> In my experience, the vast majority of IPOs are indeed “firm commitments” in which the underwriter takes on either the profit or loss (the risk) when selling shares after having priced the IPO. In the case of a \"best effort'' IPO, the investment bank is really more like a broker and advisor than a trader, and passes on to the formerly private company's shareholders the proceeds of those initial sales.</p><p><blockquote>根据我的经验，绝大多数IPO确实是“坚定承诺”，承销商在IPO定价后出售股票时承担利润或损失（风险）。在“尽最大努力”IPO的情况下，投资银行实际上更像是经纪人和顾问，而不是交易员，并将这些初始销售的收益转嫁给前私营公司的股东。</blockquote></p><p> <b>The SPAC</b></p><p><blockquote><b>SPAC</b></blockquote></p><p> The SPAC, or Special Purpose Acquisition Company, has become increasingly popular lately. Some of you may have heard of \"Blank Check Companies.\" This is another term for basically the same thing as a SPAC. The whole idea is simply to raise funds first and then target private companies to merge with afterwards.</p><p><blockquote>SPAC，即特殊目的收购公司，最近变得越来越受欢迎。有些人可能听说过“空白支票公司”。这是与特殊目的收购公司基本相同的另一个术语。整个想法只是先筹集资金，然后瞄准私营公司进行合并。</blockquote></p><p> In this way, the private firm is able to get in position to quickly merge with an already-public company, greatly simplifying the process of going public. At that point, the shareholders or owners of the private company can either redeem their stakes at the offering price, or accept stock in the newly-merged company, depending on their preference.</p><p><blockquote>通过这种方式，私营公司能够迅速与已经上市的公司合并，大大简化了上市过程。届时，私营公司的股东或所有者可以按照发行价赎回其股份，也可以接受新合并公司的股票，具体取决于他们的偏好。</blockquote></p><p> Why would a private company choose this route over a traditional IPO? There are several good reasons. The first is speed to market. By foregoing the whole \"road show\" process and merging with an already public firm, the company can now bypass all of the registrations and regulatory requirements. In addition, the risk of allowing investment bankers to price the deal is removed once the merger is agreed to.</p><p><blockquote>为什么私营公司会选择这条路线而不是传统的IPO？有几个很好的理由。首先是上市速度。通过放弃整个“路演”过程并与一家已经上市的公司合并，该公司现在可以绕过所有注册和监管要求。此外，一旦合并获得同意，允许投资银行家为交易定价的风险就消失了。</blockquote></p><p> What makes SPACs so attractive to private companies that might be in need of capital? It’s pretty simple --<i>in a traditional IPO, the private company chases the capital, but with a SPAC, the capital chases the private company</i>.</p><p><blockquote>是什么让SPAC对可能需要资本的私营公司如此有吸引力？很简单--<i>在传统的IPO中，私人公司追逐资本，但在SPAC中，资本追逐私人公司</i>.</blockquote></p><p> Notably, the SPAC structure is less risky to the owners of the targeted private company. The private company negotiates and agrees to a deal. Their work is now done, and the risk is transferred to the SPAC. This is great -- if you happen to run a highly sought-after private company in a suddenly hot industry. That is another reason why speed matters. No one ever knows how long the iron (or industry) stays hot.</p><p><blockquote>值得注意的是，SPAC结构对目标私营公司的所有者来说风险较小。私人公司谈判并同意一项交易。他们的工作现在已经完成，风险转移到了特殊目的收购公司。这很好——如果你碰巧在一个突然火爆的行业中经营一家备受追捧的私营公司。这是速度很重要的另一个原因。没有人知道铁（或工业）能保持多久。</blockquote></p><p></p><p> Now, for the less highly sought-after private business, there will always be a need for a traditional investment banker since these companies still need to raise capital and will need help finding investors. However, in the IPO model, the workload and the risk are more on the private company than they are on the bank -- at least until the issue is priced and regardless of whether a firm commitment has been made.</p><p><blockquote>现在，对于不太受欢迎的私营企业来说，总是需要传统的投资银行家，因为这些公司仍然需要筹集资金，并需要帮助寻找投资者。然而，在IPO模式中，私营公司的工作量和风险比银行更大——至少在发行定价之前，也无论是否做出了坚定的承诺。</blockquote></p><p> <b>The Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> In my opinion, there will always be room in this marketplace for both traditional investment bankers as well as SPACs. For now, amid a pandemic, which has largely taken the \"road show\" aspect out of the IPO, and as certain industries have taken off seemingly overnight, SPACs have taken as much as half of the market for new issues.</p><p><blockquote>在我看来，这个市场永远有传统投资银行家和SPAC的空间。目前，在疫情的情况下，IPO的“路演”部分在很大程度上消失了，而且某些行业似乎在一夜之间起飞，SPAC已经占据了多达一半的新股市场。</blockquote></p><p> That is the current environment and it is not only subject to change, it<i>will</i>change. As some SPACs fail to attract potentially hot new private companies, their ranks will thin. In a market that’s tougher than the current bull one, raising money ahead of a deal becomes more difficult, and the pendulum will swing back toward traditional investment bankers who provide access to a broader array of potential investors.</p><p><blockquote>这就是当前的环境，它不仅会发生变化，而且会发生变化<i>将会</i>变化。由于一些SPAC未能吸引潜在热门的新私营公司，它们的队伍将会变薄。在一个比当前牛市更加艰难的市场中，在交易前筹集资金变得更加困难，钟摆将回到传统投资银行家身上，他们可以接触到更广泛的潜在投资者。</blockquote></p><p> That said, these are two ways of going about doing the same thing. Neither is going away. Quality will succeed where success is deserved, and so quality investment bankers will outperform lower-quality SPACs and vice versa. Where quality is less obvious, there will be failure to last, or to find the right dance partner. The route chosen may depend on just how desirable, or choosy, the private company is able to be.</p><p><blockquote>也就是说，这是做同一件事的两种方式。两者都不会消失。质量将在值得成功的地方取得成功，因此优质投资银行家的表现将优于质量较低的SPAC，反之亦然。在质量不太明显的地方，就会有持续的失败，或者找不到合适的舞伴。所选择的路线可能取决于私营公司的受欢迎程度或挑剔程度。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/why-spacs-wont-replace-traditional-ipos\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.thestreet.com/investing/why-spacs-wont-replace-traditional-ipos","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102596742","content_text":"Will SPACs replace traditional IPOs? I think to a degree, they already have -- at least for now. Longer-term, however, I think that traditional investment banking will survive, and that there will always be room for both methods of going public.\nPart of why I say that traditional IPOs will survive is due to the sheer abundance of SPACs out there right now. Can they all find winning companies to merge with? What happens to those that don't find the right dance partner? Surely some will wither and die. But at the same time, the SPAC model is probably here to stay since it does simplify and expedite the whole process of going public and raising capital. And so I think that SPACs will survive even once we’re past the current manic stage.\nFirst, understand that IPOs and SPACs are really just two ways of getting a private company from point A (in need of capital) to point B (capital needs satisfied and trading publicly). As you'll see, it's really a matter of putting the wagon before the horse, or the horse before the wagon. And the same model doesn’t work for every private company in every situation.\nThe IPO\nThe traditional IPO, or Initial Public Offering, has been around since the beginning. This is what investment bankers, among other things, do for a living. As a former senior New York Stock Exchange floor trader who worked as part of the IPO team for what was considered the hottest investment bank during the internet bubble of the late 1990's, early 2000's, I have a great deal of experience in both supporting and in running the execution end of traditional IPOs, either from the booth, or in the crowd at the point of sale.\nIn simplified form, IPOs involve private companies working with an investment bank or several investment banks to raise capital by “going public.\" The investment banks place a value on the private firm through a strenuous level of fundamental analysis, all the while gauging or trying to drum up demand. That part of the job is often referred to as a \"road show.\"\nThe private company must also register with the exchange where it plans to list, as well as the Securities and Exchange Commission. There is a lengthy process that must be followed, as well as numerous requirements, such as compliance around transparency in financial reporting, that must be met.\nThe investment bank or banks, also known as the underwriters, may guarantee the IPO by purchasing the offering in a firm commitment and then selling the shares themselves in the secondary market. Without this \"firm\" commitment, the IPO is considered to be a \"best effort\" agreement, in which the underwriter sells the shares with no guarantee.\nIn my experience, the vast majority of IPOs are indeed “firm commitments” in which the underwriter takes on either the profit or loss (the risk) when selling shares after having priced the IPO. In the case of a \"best effort'' IPO, the investment bank is really more like a broker and advisor than a trader, and passes on to the formerly private company's shareholders the proceeds of those initial sales.\nThe SPAC\nThe SPAC, or Special Purpose Acquisition Company, has become increasingly popular lately. Some of you may have heard of \"Blank Check Companies.\" This is another term for basically the same thing as a SPAC. The whole idea is simply to raise funds first and then target private companies to merge with afterwards.\nIn this way, the private firm is able to get in position to quickly merge with an already-public company, greatly simplifying the process of going public. At that point, the shareholders or owners of the private company can either redeem their stakes at the offering price, or accept stock in the newly-merged company, depending on their preference.\nWhy would a private company choose this route over a traditional IPO? There are several good reasons. The first is speed to market. By foregoing the whole \"road show\" process and merging with an already public firm, the company can now bypass all of the registrations and regulatory requirements. In addition, the risk of allowing investment bankers to price the deal is removed once the merger is agreed to.\nWhat makes SPACs so attractive to private companies that might be in need of capital? It’s pretty simple --in a traditional IPO, the private company chases the capital, but with a SPAC, the capital chases the private company.\nNotably, the SPAC structure is less risky to the owners of the targeted private company. The private company negotiates and agrees to a deal. Their work is now done, and the risk is transferred to the SPAC. This is great -- if you happen to run a highly sought-after private company in a suddenly hot industry. That is another reason why speed matters. No one ever knows how long the iron (or industry) stays hot.\nNow, for the less highly sought-after private business, there will always be a need for a traditional investment banker since these companies still need to raise capital and will need help finding investors. However, in the IPO model, the workload and the risk are more on the private company than they are on the bank -- at least until the issue is priced and regardless of whether a firm commitment has been made.\nThe Bottom Line\nIn my opinion, there will always be room in this marketplace for both traditional investment bankers as well as SPACs. For now, amid a pandemic, which has largely taken the \"road show\" aspect out of the IPO, and as certain industries have taken off seemingly overnight, SPACs have taken as much as half of the market for new issues.\nThat is the current environment and it is not only subject to change, itwillchange. As some SPACs fail to attract potentially hot new private companies, their ranks will thin. In a market that’s tougher than the current bull one, raising money ahead of a deal becomes more difficult, and the pendulum will swing back toward traditional investment bankers who provide access to a broader array of potential investors.\nThat said, these are two ways of going about doing the same thing. Neither is going away. Quality will succeed where success is deserved, and so quality investment bankers will outperform lower-quality SPACs and vice versa. Where quality is less obvious, there will be failure to last, or to find the right dance partner. The route chosen may depend on just how desirable, or choosy, the private company is able to be.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":695,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359264300,"gmtCreate":1616404644600,"gmtModify":1634526025992,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Hmmmm//<a href=\"https://laohu8.com/U/3575354262652152\">@HUISHANSOH</a>:Hmm","listText":"Hmmmm//<a href=\"https://laohu8.com/U/3575354262652152\">@HUISHANSOH</a>:Hmm","text":"Hmmmm//@HUISHANSOH:Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359264300","repostId":"2121214544","repostType":4,"repost":{"id":"2121214544","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1616402113,"share":"https://www.laohu8.com/m/news/2121214544?lang=zh_CN&edition=full","pubTime":"2021-03-22 16:35","market":"us","language":"en","title":"Thinking About Buying Stock In Adidas, Peloton, Boeing, Carnival Or Alibaba?<blockquote>考虑购买Adidas、Peloton、波音、嘉年华或阿里巴巴-SW的股票？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2121214544","media":"Benzinga","summary":"One of the most common questions traders have about stocks is “Why Is It Moving?”That’s why Benzinga","content":"<p><img src=\"https://s1.yimg.com/uu/api/res/1.2/FKX4CrQCeNpxfa4O4dMblg--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/Benzinga/74b474be250ebe1d0e36d40927534eec\" tg-width=\"600\" tg-height=\"400\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>One of the most common questions traders have about stocks is “Why Is It Moving?”</p><p><blockquote>交易者对股票最常见的问题之一是“它为什么会变动？”</blockquote></p><p>That’s why Benzinga created the Why Is It Moving, or WIIM, feature in&nbsp;Benzinga Pro. WIIMs are a <a href=\"https://laohu8.com/S/AONE\">one</a>-sentence description as to why that stock is moving.</p><p><blockquote>这就是Benzinga在Benzinga Pro中创建“为什么它在移动”(WIIM)功能的原因。WIIMs是一个<a href=\"https://laohu8.com/S/AONE\">一</a>-句子描述股票为什么会变动。</blockquote></p><p>Here’s the latest news and updates for Adidas, Peloton, Boeing, Carnival and Alibaba.</p><p><blockquote>以下是阿迪达斯、Peloton、波音、嘉年华和阿里巴巴-SW的最新消息和更新。</blockquote></p><p><b>Adidas ADR</b> (NASDAQ: ADDYY) announced this week a new partnership with fitness company <b>Peloton Interactive Inc</b> (NASDAQ: PTON) to create an exclusive apparel line.</p><p><blockquote><b>阿迪达斯ADR</b>（纳斯达克：ADDYY）本周宣布与健身公司建立新的合作伙伴关系<b>Peloton互动公司</b>（纳斯达克：PTON）打造专属服装系列。</blockquote></p><p>Adidas said that its partnership with Peloton will begin with the \"adidas x Peloton SS21\" collection, a line of performance wear and lifestyle pieces.&nbsp;The collection was made in collaboration with Peloton’s cycling instructors Ally Love, Robin Arzón and Cody Rigsby.</p><p><blockquote>阿迪达斯表示，与Peloton的合作将从“阿迪达斯x Peloton SS21”系列开始，这是一系列高性能服装和生活方式单品。该系列是与Peloton的自行车教练Ally Love、Robin Arzón和Cody Rigsby合作制作的。</blockquote></p><p>Susquehanna analyst Charles Minervino maintained&nbsp;<b>Boeing Co</b> (NYSE: BA) with a Positive rating and raised the price target from $250 to $300.</p><p><blockquote>Susquehanna分析师Charles Minervino维持<b>波音公司</b>(NYSE：BA)给予正面评级，并将目标价从250美元上调至300美元。</blockquote></p><p>UBS analyst Robin Farley upgraded&nbsp;<b>Carnival Corp</b> (NYSE: CCL) from Neutral to Buy and raised&nbsp;the price target from $20 to $42. Farley also maintained&nbsp;<b>Royal Caribbean Cruises Ltd</b> (NYSE: RCL) with a Buy and raised&nbsp;the price target from $79 to $116.</p><p><blockquote>瑞银分析师罗宾·法利上调评级<b>嘉年华公司</b>(NYSE：CCL)从中性上调至买入，并将目标价从20美元上调至42美元。法利还认为<b>皇家加勒比游轮有限公司</b>(NYSE：RCL)给予买入评级，并将目标价从79美元上调至116美元。</blockquote></p><p>Truist Securities analyst Youssef Squali maintained&nbsp;<b>Alibaba Group Holding Ltd - ADR</b> (NYSE: BABA) with a Buy and raised the price target from $326 to $330.</p><p><blockquote>Truist证券分析师Youssef Squali维持<b>阿里巴巴-SW集团控股有限公司-ADR</b>(NYSE：BABA)给予买入评级，并将目标价从326美元上调至330美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Thinking About Buying Stock In Adidas, Peloton, Boeing, Carnival Or Alibaba?<blockquote>考虑购买Adidas、Peloton、波音、嘉年华或阿里巴巴-SW的股票？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThinking About Buying Stock In Adidas, Peloton, Boeing, Carnival Or Alibaba?<blockquote>考虑购买Adidas、Peloton、波音、嘉年华或阿里巴巴-SW的股票？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-03-22 16:35</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><img src=\"https://s1.yimg.com/uu/api/res/1.2/FKX4CrQCeNpxfa4O4dMblg--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/Benzinga/74b474be250ebe1d0e36d40927534eec\" tg-width=\"600\" tg-height=\"400\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>One of the most common questions traders have about stocks is “Why Is It Moving?”</p><p><blockquote>交易者对股票最常见的问题之一是“它为什么会变动？”</blockquote></p><p>That’s why Benzinga created the Why Is It Moving, or WIIM, feature in&nbsp;Benzinga Pro. WIIMs are a <a href=\"https://laohu8.com/S/AONE\">one</a>-sentence description as to why that stock is moving.</p><p><blockquote>这就是Benzinga在Benzinga Pro中创建“为什么它在移动”(WIIM)功能的原因。WIIMs是一个<a href=\"https://laohu8.com/S/AONE\">一</a>-句子描述股票为什么会变动。</blockquote></p><p>Here’s the latest news and updates for Adidas, Peloton, Boeing, Carnival and Alibaba.</p><p><blockquote>以下是阿迪达斯、Peloton、波音、嘉年华和阿里巴巴-SW的最新消息和更新。</blockquote></p><p><b>Adidas ADR</b> (NASDAQ: ADDYY) announced this week a new partnership with fitness company <b>Peloton Interactive Inc</b> (NASDAQ: PTON) to create an exclusive apparel line.</p><p><blockquote><b>阿迪达斯ADR</b>（纳斯达克：ADDYY）本周宣布与健身公司建立新的合作伙伴关系<b>Peloton互动公司</b>（纳斯达克：PTON）打造专属服装系列。</blockquote></p><p>Adidas said that its partnership with Peloton will begin with the \"adidas x Peloton SS21\" collection, a line of performance wear and lifestyle pieces.&nbsp;The collection was made in collaboration with Peloton’s cycling instructors Ally Love, Robin Arzón and Cody Rigsby.</p><p><blockquote>阿迪达斯表示，与Peloton的合作将从“阿迪达斯x Peloton SS21”系列开始，这是一系列高性能服装和生活方式单品。该系列是与Peloton的自行车教练Ally Love、Robin Arzón和Cody Rigsby合作制作的。</blockquote></p><p>Susquehanna analyst Charles Minervino maintained&nbsp;<b>Boeing Co</b> (NYSE: BA) with a Positive rating and raised the price target from $250 to $300.</p><p><blockquote>Susquehanna分析师Charles Minervino维持<b>波音公司</b>(NYSE：BA)给予正面评级，并将目标价从250美元上调至300美元。</blockquote></p><p>UBS analyst Robin Farley upgraded&nbsp;<b>Carnival Corp</b> (NYSE: CCL) from Neutral to Buy and raised&nbsp;the price target from $20 to $42. Farley also maintained&nbsp;<b>Royal Caribbean Cruises Ltd</b> (NYSE: RCL) with a Buy and raised&nbsp;the price target from $79 to $116.</p><p><blockquote>瑞银分析师罗宾·法利上调评级<b>嘉年华公司</b>(NYSE：CCL)从中性上调至买入，并将目标价从20美元上调至42美元。法利还认为<b>皇家加勒比游轮有限公司</b>(NYSE：RCL)给予买入评级，并将目标价从79美元上调至116美元。</blockquote></p><p>Truist Securities analyst Youssef Squali maintained&nbsp;<b>Alibaba Group Holding Ltd - ADR</b> (NYSE: BABA) with a Buy and raised the price target from $326 to $330.</p><p><blockquote>Truist证券分析师Youssef Squali维持<b>阿里巴巴-SW集团控股有限公司-ADR</b>(NYSE：BABA)给予买入评级，并将目标价从326美元上调至330美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CCL":"嘉年华邮轮","PTON":"Peloton Interactive, Inc.","CUK":"嘉年华存托凭证","BABA":"阿里巴巴","BA":"波音"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121214544","content_text":"One of the most common questions traders have about stocks is “Why Is It Moving?”That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why that stock is moving.Here’s the latest news and updates for Adidas, Peloton, Boeing, Carnival and Alibaba.Adidas ADR (NASDAQ: ADDYY) announced this week a new partnership with fitness company Peloton Interactive Inc (NASDAQ: PTON) to create an exclusive apparel line.Adidas said that its partnership with Peloton will begin with the \"adidas x Peloton SS21\" collection, a line of performance wear and lifestyle pieces. The collection was made in collaboration with Peloton’s cycling instructors Ally Love, Robin Arzón and Cody Rigsby.Susquehanna analyst Charles Minervino maintained Boeing Co (NYSE: BA) with a Positive rating and raised the price target from $250 to $300.UBS analyst Robin Farley upgraded Carnival Corp (NYSE: CCL) from Neutral to Buy and raised the price target from $20 to $42. Farley also maintained Royal Caribbean Cruises Ltd (NYSE: RCL) with a Buy and raised the price target from $79 to $116.Truist Securities analyst Youssef Squali maintained Alibaba Group Holding Ltd - ADR (NYSE: BABA) with a Buy and raised the price target from $326 to $330.","news_type":1,"symbols_score_info":{"CCL":0.9,"PTON":0.9,"CUK":0.9,"BABA":0.9,"BA":0.9}},"isVote":1,"tweetType":1,"viewCount":607,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359283836,"gmtCreate":1616403496925,"gmtModify":1634526032395,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/359283836","repostId":"1117558087","repostType":4,"isVote":1,"tweetType":1,"viewCount":745,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359289424,"gmtCreate":1616403448968,"gmtModify":1634526032635,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Nicenice&nbsp;","listText":"Nicenice&nbsp;","text":"Nicenice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359289424","isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324443430,"gmtCreate":1616027515920,"gmtModify":1703496511182,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"To the moon","listText":"To the moon","text":"To the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324443430","repostId":"1131950550","repostType":4,"isVote":1,"tweetType":1,"viewCount":469,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324319156,"gmtCreate":1615962257575,"gmtModify":1703495579592,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324319156","repostId":"1127014629","repostType":4,"isVote":1,"tweetType":1,"viewCount":704,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":848975399,"gmtCreate":1635958463637,"gmtModify":1635958463830,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/OCGN\">$Histogenics(OCGN)$</a>It’s just selling the news. 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23:42","market":"us","language":"en","title":"Why SPACs Won’t Replace Traditional IPOs -- and Vice Versa<blockquote>为什么SPAC不会取代传统IPO——反之亦然</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1102596742","media":"TheStreet","summary":"Will SPACs replace traditional IPOs? I think to a degree, they already have -- at least for now. Lon","content":"<p>Will SPACs replace traditional IPOs? I think to a degree, they already have -- at least for now. Longer-term, however, I think that traditional investment banking will survive, and that there will always be room for both methods of going public.</p><p><blockquote>SPAC会取代传统IPO吗？我认为在某种程度上，他们已经做到了——至少现在是这样。然而，从长远来看，我认为传统投资银行业务将会生存下来，而且这两种上市方式总会有空间。</blockquote></p><p> Part of why I say that traditional IPOs will survive is due to the sheer abundance of SPACs out there right now. Can they all find winning companies to merge with? What happens to those that don't find the right dance partner? Surely some will wither and die. But at the same time, the SPAC model is probably here to stay since it does simplify and expedite the whole process of going public and raising capital. And so I think that SPACs will survive even once we’re past the current manic stage.</p><p><blockquote>我说传统IPO将继续存在的部分原因是目前SPAC数量众多。他们都能找到获胜的公司合并吗？那些没有找到合适舞伴的人会怎么样？肯定会有一些枯萎死亡。但与此同时，SPAC模式可能会继续存在，因为它确实简化和加快了上市和筹集资金的整个过程。因此，我认为，即使我们度过了当前的狂躁阶段，SPAC也会生存下来。</blockquote></p><p> First, understand that IPOs and SPACs are really just two ways of getting a private company from point A (in need of capital) to point B (capital needs satisfied and trading publicly). As you'll see, it's really a matter of putting the wagon before the horse, or the horse before the wagon. And the same model doesn’t work for every private company in every situation.</p><p><blockquote>首先，要明白IPO和SPAC实际上只是让一家私营公司从A点（需要资本）到B点（满足资本需求并公开交易）的两种方式。正如您将看到的，这实际上是一个本末倒置或本末倒置的问题。同样的模式并不适用于所有情况下的每家私营公司。</blockquote></p><p> <b>The IPO</b></p><p><blockquote><b>IPO</b></blockquote></p><p> The traditional IPO, or Initial Public Offering, has been around since the beginning. This is what investment bankers, among other things, do for a living. As a former senior New York Stock Exchange floor trader who worked as part of the IPO team for what was considered the hottest investment bank during the internet bubble of the late 1990's, early 2000's, I have a great deal of experience in both supporting and in running the execution end of traditional IPOs, either from the booth, or in the crowd at the point of sale.</p><p><blockquote>传统的IPO或首次公开募股从一开始就存在。这就是投资银行家的谋生之道。作为一名前纽约证券交易所高级场内交易员，我曾在20世纪90年代末和21世纪初互联网泡沫期间被认为是最热门的投资银行的IPO团队工作，我在支持和运行传统IPO的执行端方面拥有丰富的经验，无论是在展位上，还是在销售点的人群中。</blockquote></p><p> In simplified form, IPOs involve private companies working with an investment bank or several investment banks to raise capital by “going public.\" The investment banks place a value on the private firm through a strenuous level of fundamental analysis, all the while gauging or trying to drum up demand. That part of the job is often referred to as a \"road show.\"</p><p><blockquote>简单地说，IPO是指私营公司与一家或几家投资银行合作，通过“上市”筹集资金。投资银行通过严格的基本面分析来评估私营公司的价值，同时衡量或试图吸引需求。这部分工作通常被称为“路演”。</blockquote></p><p> The private company must also register with the exchange where it plans to list, as well as the Securities and Exchange Commission. There is a lengthy process that must be followed, as well as numerous requirements, such as compliance around transparency in financial reporting, that must be met.</p><p><blockquote>私营公司还必须在其计划上市的交易所以及美国证券交易委员会注册。必须遵循一个漫长的过程，并且必须满足众多要求，例如财务报告透明度的合规性。</blockquote></p><p> The investment bank or banks, also known as the underwriters, may guarantee the IPO by purchasing the offering in a firm commitment and then selling the shares themselves in the secondary market. Without this \"firm\" commitment, the IPO is considered to be a \"best effort\" agreement, in which the underwriter sells the shares with no guarantee.</p><p><blockquote>投资银行，也称为承销商，可以通过以坚定的承诺购买发行股票，然后在二级市场上出售股票来保证IPO。如果没有这种“坚定”的承诺，IPO被认为是一种“尽力而为”的协议，承销商在没有担保的情况下出售股票。</blockquote></p><p> In my experience, the vast majority of IPOs are indeed “firm commitments” in which the underwriter takes on either the profit or loss (the risk) when selling shares after having priced the IPO. In the case of a \"best effort'' IPO, the investment bank is really more like a broker and advisor than a trader, and passes on to the formerly private company's shareholders the proceeds of those initial sales.</p><p><blockquote>根据我的经验，绝大多数IPO确实是“坚定承诺”，承销商在IPO定价后出售股票时承担利润或损失（风险）。在“尽最大努力”IPO的情况下，投资银行实际上更像是经纪人和顾问，而不是交易员，并将这些初始销售的收益转嫁给前私营公司的股东。</blockquote></p><p> <b>The SPAC</b></p><p><blockquote><b>SPAC</b></blockquote></p><p> The SPAC, or Special Purpose Acquisition Company, has become increasingly popular lately. Some of you may have heard of \"Blank Check Companies.\" This is another term for basically the same thing as a SPAC. The whole idea is simply to raise funds first and then target private companies to merge with afterwards.</p><p><blockquote>SPAC，即特殊目的收购公司，最近变得越来越受欢迎。有些人可能听说过“空白支票公司”。这是与特殊目的收购公司基本相同的另一个术语。整个想法只是先筹集资金，然后瞄准私营公司进行合并。</blockquote></p><p> In this way, the private firm is able to get in position to quickly merge with an already-public company, greatly simplifying the process of going public. At that point, the shareholders or owners of the private company can either redeem their stakes at the offering price, or accept stock in the newly-merged company, depending on their preference.</p><p><blockquote>通过这种方式，私营公司能够迅速与已经上市的公司合并，大大简化了上市过程。届时，私营公司的股东或所有者可以按照发行价赎回其股份，也可以接受新合并公司的股票，具体取决于他们的偏好。</blockquote></p><p> Why would a private company choose this route over a traditional IPO? There are several good reasons. The first is speed to market. By foregoing the whole \"road show\" process and merging with an already public firm, the company can now bypass all of the registrations and regulatory requirements. In addition, the risk of allowing investment bankers to price the deal is removed once the merger is agreed to.</p><p><blockquote>为什么私营公司会选择这条路线而不是传统的IPO？有几个很好的理由。首先是上市速度。通过放弃整个“路演”过程并与一家已经上市的公司合并，该公司现在可以绕过所有注册和监管要求。此外，一旦合并获得同意，允许投资银行家为交易定价的风险就消失了。</blockquote></p><p> What makes SPACs so attractive to private companies that might be in need of capital? It’s pretty simple --<i>in a traditional IPO, the private company chases the capital, but with a SPAC, the capital chases the private company</i>.</p><p><blockquote>是什么让SPAC对可能需要资本的私营公司如此有吸引力？很简单--<i>在传统的IPO中，私人公司追逐资本，但在SPAC中，资本追逐私人公司</i>.</blockquote></p><p> Notably, the SPAC structure is less risky to the owners of the targeted private company. The private company negotiates and agrees to a deal. Their work is now done, and the risk is transferred to the SPAC. This is great -- if you happen to run a highly sought-after private company in a suddenly hot industry. That is another reason why speed matters. No one ever knows how long the iron (or industry) stays hot.</p><p><blockquote>值得注意的是，SPAC结构对目标私营公司的所有者来说风险较小。私人公司谈判并同意一项交易。他们的工作现在已经完成，风险转移到了特殊目的收购公司。这很好——如果你碰巧在一个突然火爆的行业中经营一家备受追捧的私营公司。这是速度很重要的另一个原因。没有人知道铁（或工业）能保持多久。</blockquote></p><p></p><p> Now, for the less highly sought-after private business, there will always be a need for a traditional investment banker since these companies still need to raise capital and will need help finding investors. However, in the IPO model, the workload and the risk are more on the private company than they are on the bank -- at least until the issue is priced and regardless of whether a firm commitment has been made.</p><p><blockquote>现在，对于不太受欢迎的私营企业来说，总是需要传统的投资银行家，因为这些公司仍然需要筹集资金，并需要帮助寻找投资者。然而，在IPO模式中，私营公司的工作量和风险比银行更大——至少在发行定价之前，也无论是否做出了坚定的承诺。</blockquote></p><p> <b>The Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> In my opinion, there will always be room in this marketplace for both traditional investment bankers as well as SPACs. For now, amid a pandemic, which has largely taken the \"road show\" aspect out of the IPO, and as certain industries have taken off seemingly overnight, SPACs have taken as much as half of the market for new issues.</p><p><blockquote>在我看来，这个市场永远有传统投资银行家和SPAC的空间。目前，在疫情的情况下，IPO的“路演”部分在很大程度上消失了，而且某些行业似乎在一夜之间起飞，SPAC已经占据了多达一半的新股市场。</blockquote></p><p> That is the current environment and it is not only subject to change, it<i>will</i>change. As some SPACs fail to attract potentially hot new private companies, their ranks will thin. In a market that’s tougher than the current bull one, raising money ahead of a deal becomes more difficult, and the pendulum will swing back toward traditional investment bankers who provide access to a broader array of potential investors.</p><p><blockquote>这就是当前的环境，它不仅会发生变化，而且会发生变化<i>将会</i>变化。由于一些SPAC未能吸引潜在热门的新私营公司，它们的队伍将会变薄。在一个比当前牛市更加艰难的市场中，在交易前筹集资金变得更加困难，钟摆将回到传统投资银行家身上，他们可以接触到更广泛的潜在投资者。</blockquote></p><p> That said, these are two ways of going about doing the same thing. Neither is going away. Quality will succeed where success is deserved, and so quality investment bankers will outperform lower-quality SPACs and vice versa. Where quality is less obvious, there will be failure to last, or to find the right dance partner. The route chosen may depend on just how desirable, or choosy, the private company is able to be.</p><p><blockquote>也就是说，这是做同一件事的两种方式。两者都不会消失。质量将在值得成功的地方取得成功，因此优质投资银行家的表现将优于质量较低的SPAC，反之亦然。在质量不太明显的地方，就会有持续的失败，或者找不到合适的舞伴。所选择的路线可能取决于私营公司的受欢迎程度或挑剔程度。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why SPACs Won’t Replace Traditional IPOs -- and Vice Versa<blockquote>为什么SPAC不会取代传统IPO——反之亦然</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\">\nWhy SPACs Won’t Replace Traditional IPOs -- and Vice Versa<blockquote>为什么SPAC不会取代传统IPO——反之亦然</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-03-23 23:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Will SPACs replace traditional IPOs? I think to a degree, they already have -- at least for now. Longer-term, however, I think that traditional investment banking will survive, and that there will always be room for both methods of going public.</p><p><blockquote>SPAC会取代传统IPO吗？我认为在某种程度上，他们已经做到了——至少现在是这样。然而，从长远来看，我认为传统投资银行业务将会生存下来，而且这两种上市方式总会有空间。</blockquote></p><p> Part of why I say that traditional IPOs will survive is due to the sheer abundance of SPACs out there right now. Can they all find winning companies to merge with? What happens to those that don't find the right dance partner? Surely some will wither and die. But at the same time, the SPAC model is probably here to stay since it does simplify and expedite the whole process of going public and raising capital. And so I think that SPACs will survive even once we’re past the current manic stage.</p><p><blockquote>我说传统IPO将继续存在的部分原因是目前SPAC数量众多。他们都能找到获胜的公司合并吗？那些没有找到合适舞伴的人会怎么样？肯定会有一些枯萎死亡。但与此同时，SPAC模式可能会继续存在，因为它确实简化和加快了上市和筹集资金的整个过程。因此，我认为，即使我们度过了当前的狂躁阶段，SPAC也会生存下来。</blockquote></p><p> First, understand that IPOs and SPACs are really just two ways of getting a private company from point A (in need of capital) to point B (capital needs satisfied and trading publicly). As you'll see, it's really a matter of putting the wagon before the horse, or the horse before the wagon. And the same model doesn’t work for every private company in every situation.</p><p><blockquote>首先，要明白IPO和SPAC实际上只是让一家私营公司从A点（需要资本）到B点（满足资本需求并公开交易）的两种方式。正如您将看到的，这实际上是一个本末倒置或本末倒置的问题。同样的模式并不适用于所有情况下的每家私营公司。</blockquote></p><p> <b>The IPO</b></p><p><blockquote><b>IPO</b></blockquote></p><p> The traditional IPO, or Initial Public Offering, has been around since the beginning. This is what investment bankers, among other things, do for a living. As a former senior New York Stock Exchange floor trader who worked as part of the IPO team for what was considered the hottest investment bank during the internet bubble of the late 1990's, early 2000's, I have a great deal of experience in both supporting and in running the execution end of traditional IPOs, either from the booth, or in the crowd at the point of sale.</p><p><blockquote>传统的IPO或首次公开募股从一开始就存在。这就是投资银行家的谋生之道。作为一名前纽约证券交易所高级场内交易员，我曾在20世纪90年代末和21世纪初互联网泡沫期间被认为是最热门的投资银行的IPO团队工作，我在支持和运行传统IPO的执行端方面拥有丰富的经验，无论是在展位上，还是在销售点的人群中。</blockquote></p><p> In simplified form, IPOs involve private companies working with an investment bank or several investment banks to raise capital by “going public.\" The investment banks place a value on the private firm through a strenuous level of fundamental analysis, all the while gauging or trying to drum up demand. That part of the job is often referred to as a \"road show.\"</p><p><blockquote>简单地说，IPO是指私营公司与一家或几家投资银行合作，通过“上市”筹集资金。投资银行通过严格的基本面分析来评估私营公司的价值，同时衡量或试图吸引需求。这部分工作通常被称为“路演”。</blockquote></p><p> The private company must also register with the exchange where it plans to list, as well as the Securities and Exchange Commission. There is a lengthy process that must be followed, as well as numerous requirements, such as compliance around transparency in financial reporting, that must be met.</p><p><blockquote>私营公司还必须在其计划上市的交易所以及美国证券交易委员会注册。必须遵循一个漫长的过程，并且必须满足众多要求，例如财务报告透明度的合规性。</blockquote></p><p> The investment bank or banks, also known as the underwriters, may guarantee the IPO by purchasing the offering in a firm commitment and then selling the shares themselves in the secondary market. Without this \"firm\" commitment, the IPO is considered to be a \"best effort\" agreement, in which the underwriter sells the shares with no guarantee.</p><p><blockquote>投资银行，也称为承销商，可以通过以坚定的承诺购买发行股票，然后在二级市场上出售股票来保证IPO。如果没有这种“坚定”的承诺，IPO被认为是一种“尽力而为”的协议，承销商在没有担保的情况下出售股票。</blockquote></p><p> In my experience, the vast majority of IPOs are indeed “firm commitments” in which the underwriter takes on either the profit or loss (the risk) when selling shares after having priced the IPO. In the case of a \"best effort'' IPO, the investment bank is really more like a broker and advisor than a trader, and passes on to the formerly private company's shareholders the proceeds of those initial sales.</p><p><blockquote>根据我的经验，绝大多数IPO确实是“坚定承诺”，承销商在IPO定价后出售股票时承担利润或损失（风险）。在“尽最大努力”IPO的情况下，投资银行实际上更像是经纪人和顾问，而不是交易员，并将这些初始销售的收益转嫁给前私营公司的股东。</blockquote></p><p> <b>The SPAC</b></p><p><blockquote><b>SPAC</b></blockquote></p><p> The SPAC, or Special Purpose Acquisition Company, has become increasingly popular lately. Some of you may have heard of \"Blank Check Companies.\" This is another term for basically the same thing as a SPAC. The whole idea is simply to raise funds first and then target private companies to merge with afterwards.</p><p><blockquote>SPAC，即特殊目的收购公司，最近变得越来越受欢迎。有些人可能听说过“空白支票公司”。这是与特殊目的收购公司基本相同的另一个术语。整个想法只是先筹集资金，然后瞄准私营公司进行合并。</blockquote></p><p> In this way, the private firm is able to get in position to quickly merge with an already-public company, greatly simplifying the process of going public. At that point, the shareholders or owners of the private company can either redeem their stakes at the offering price, or accept stock in the newly-merged company, depending on their preference.</p><p><blockquote>通过这种方式，私营公司能够迅速与已经上市的公司合并，大大简化了上市过程。届时，私营公司的股东或所有者可以按照发行价赎回其股份，也可以接受新合并公司的股票，具体取决于他们的偏好。</blockquote></p><p> Why would a private company choose this route over a traditional IPO? There are several good reasons. The first is speed to market. By foregoing the whole \"road show\" process and merging with an already public firm, the company can now bypass all of the registrations and regulatory requirements. In addition, the risk of allowing investment bankers to price the deal is removed once the merger is agreed to.</p><p><blockquote>为什么私营公司会选择这条路线而不是传统的IPO？有几个很好的理由。首先是上市速度。通过放弃整个“路演”过程并与一家已经上市的公司合并，该公司现在可以绕过所有注册和监管要求。此外，一旦合并获得同意，允许投资银行家为交易定价的风险就消失了。</blockquote></p><p> What makes SPACs so attractive to private companies that might be in need of capital? It’s pretty simple --<i>in a traditional IPO, the private company chases the capital, but with a SPAC, the capital chases the private company</i>.</p><p><blockquote>是什么让SPAC对可能需要资本的私营公司如此有吸引力？很简单--<i>在传统的IPO中，私人公司追逐资本，但在SPAC中，资本追逐私人公司</i>.</blockquote></p><p> Notably, the SPAC structure is less risky to the owners of the targeted private company. The private company negotiates and agrees to a deal. Their work is now done, and the risk is transferred to the SPAC. This is great -- if you happen to run a highly sought-after private company in a suddenly hot industry. That is another reason why speed matters. No one ever knows how long the iron (or industry) stays hot.</p><p><blockquote>值得注意的是，SPAC结构对目标私营公司的所有者来说风险较小。私人公司谈判并同意一项交易。他们的工作现在已经完成，风险转移到了特殊目的收购公司。这很好——如果你碰巧在一个突然火爆的行业中经营一家备受追捧的私营公司。这是速度很重要的另一个原因。没有人知道铁（或工业）能保持多久。</blockquote></p><p></p><p> Now, for the less highly sought-after private business, there will always be a need for a traditional investment banker since these companies still need to raise capital and will need help finding investors. However, in the IPO model, the workload and the risk are more on the private company than they are on the bank -- at least until the issue is priced and regardless of whether a firm commitment has been made.</p><p><blockquote>现在，对于不太受欢迎的私营企业来说，总是需要传统的投资银行家，因为这些公司仍然需要筹集资金，并需要帮助寻找投资者。然而，在IPO模式中，私营公司的工作量和风险比银行更大——至少在发行定价之前，也无论是否做出了坚定的承诺。</blockquote></p><p> <b>The Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> In my opinion, there will always be room in this marketplace for both traditional investment bankers as well as SPACs. For now, amid a pandemic, which has largely taken the \"road show\" aspect out of the IPO, and as certain industries have taken off seemingly overnight, SPACs have taken as much as half of the market for new issues.</p><p><blockquote>在我看来，这个市场永远有传统投资银行家和SPAC的空间。目前，在疫情的情况下，IPO的“路演”部分在很大程度上消失了，而且某些行业似乎在一夜之间起飞，SPAC已经占据了多达一半的新股市场。</blockquote></p><p> That is the current environment and it is not only subject to change, it<i>will</i>change. As some SPACs fail to attract potentially hot new private companies, their ranks will thin. In a market that’s tougher than the current bull one, raising money ahead of a deal becomes more difficult, and the pendulum will swing back toward traditional investment bankers who provide access to a broader array of potential investors.</p><p><blockquote>这就是当前的环境，它不仅会发生变化，而且会发生变化<i>将会</i>变化。由于一些SPAC未能吸引潜在热门的新私营公司，它们的队伍将会变薄。在一个比当前牛市更加艰难的市场中，在交易前筹集资金变得更加困难，钟摆将回到传统投资银行家身上，他们可以接触到更广泛的潜在投资者。</blockquote></p><p> That said, these are two ways of going about doing the same thing. Neither is going away. Quality will succeed where success is deserved, and so quality investment bankers will outperform lower-quality SPACs and vice versa. Where quality is less obvious, there will be failure to last, or to find the right dance partner. The route chosen may depend on just how desirable, or choosy, the private company is able to be.</p><p><blockquote>也就是说，这是做同一件事的两种方式。两者都不会消失。质量将在值得成功的地方取得成功，因此优质投资银行家的表现将优于质量较低的SPAC，反之亦然。在质量不太明显的地方，就会有持续的失败，或者找不到合适的舞伴。所选择的路线可能取决于私营公司的受欢迎程度或挑剔程度。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/why-spacs-wont-replace-traditional-ipos\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.thestreet.com/investing/why-spacs-wont-replace-traditional-ipos","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102596742","content_text":"Will SPACs replace traditional IPOs? I think to a degree, they already have -- at least for now. Longer-term, however, I think that traditional investment banking will survive, and that there will always be room for both methods of going public.\nPart of why I say that traditional IPOs will survive is due to the sheer abundance of SPACs out there right now. Can they all find winning companies to merge with? What happens to those that don't find the right dance partner? Surely some will wither and die. But at the same time, the SPAC model is probably here to stay since it does simplify and expedite the whole process of going public and raising capital. And so I think that SPACs will survive even once we’re past the current manic stage.\nFirst, understand that IPOs and SPACs are really just two ways of getting a private company from point A (in need of capital) to point B (capital needs satisfied and trading publicly). As you'll see, it's really a matter of putting the wagon before the horse, or the horse before the wagon. And the same model doesn’t work for every private company in every situation.\nThe IPO\nThe traditional IPO, or Initial Public Offering, has been around since the beginning. This is what investment bankers, among other things, do for a living. As a former senior New York Stock Exchange floor trader who worked as part of the IPO team for what was considered the hottest investment bank during the internet bubble of the late 1990's, early 2000's, I have a great deal of experience in both supporting and in running the execution end of traditional IPOs, either from the booth, or in the crowd at the point of sale.\nIn simplified form, IPOs involve private companies working with an investment bank or several investment banks to raise capital by “going public.\" The investment banks place a value on the private firm through a strenuous level of fundamental analysis, all the while gauging or trying to drum up demand. That part of the job is often referred to as a \"road show.\"\nThe private company must also register with the exchange where it plans to list, as well as the Securities and Exchange Commission. There is a lengthy process that must be followed, as well as numerous requirements, such as compliance around transparency in financial reporting, that must be met.\nThe investment bank or banks, also known as the underwriters, may guarantee the IPO by purchasing the offering in a firm commitment and then selling the shares themselves in the secondary market. Without this \"firm\" commitment, the IPO is considered to be a \"best effort\" agreement, in which the underwriter sells the shares with no guarantee.\nIn my experience, the vast majority of IPOs are indeed “firm commitments” in which the underwriter takes on either the profit or loss (the risk) when selling shares after having priced the IPO. In the case of a \"best effort'' IPO, the investment bank is really more like a broker and advisor than a trader, and passes on to the formerly private company's shareholders the proceeds of those initial sales.\nThe SPAC\nThe SPAC, or Special Purpose Acquisition Company, has become increasingly popular lately. Some of you may have heard of \"Blank Check Companies.\" This is another term for basically the same thing as a SPAC. The whole idea is simply to raise funds first and then target private companies to merge with afterwards.\nIn this way, the private firm is able to get in position to quickly merge with an already-public company, greatly simplifying the process of going public. At that point, the shareholders or owners of the private company can either redeem their stakes at the offering price, or accept stock in the newly-merged company, depending on their preference.\nWhy would a private company choose this route over a traditional IPO? There are several good reasons. The first is speed to market. By foregoing the whole \"road show\" process and merging with an already public firm, the company can now bypass all of the registrations and regulatory requirements. In addition, the risk of allowing investment bankers to price the deal is removed once the merger is agreed to.\nWhat makes SPACs so attractive to private companies that might be in need of capital? It’s pretty simple --in a traditional IPO, the private company chases the capital, but with a SPAC, the capital chases the private company.\nNotably, the SPAC structure is less risky to the owners of the targeted private company. The private company negotiates and agrees to a deal. Their work is now done, and the risk is transferred to the SPAC. This is great -- if you happen to run a highly sought-after private company in a suddenly hot industry. That is another reason why speed matters. No one ever knows how long the iron (or industry) stays hot.\nNow, for the less highly sought-after private business, there will always be a need for a traditional investment banker since these companies still need to raise capital and will need help finding investors. However, in the IPO model, the workload and the risk are more on the private company than they are on the bank -- at least until the issue is priced and regardless of whether a firm commitment has been made.\nThe Bottom Line\nIn my opinion, there will always be room in this marketplace for both traditional investment bankers as well as SPACs. For now, amid a pandemic, which has largely taken the \"road show\" aspect out of the IPO, and as certain industries have taken off seemingly overnight, SPACs have taken as much as half of the market for new issues.\nThat is the current environment and it is not only subject to change, itwillchange. As some SPACs fail to attract potentially hot new private companies, their ranks will thin. In a market that’s tougher than the current bull one, raising money ahead of a deal becomes more difficult, and the pendulum will swing back toward traditional investment bankers who provide access to a broader array of potential investors.\nThat said, these are two ways of going about doing the same thing. Neither is going away. Quality will succeed where success is deserved, and so quality investment bankers will outperform lower-quality SPACs and vice versa. Where quality is less obvious, there will be failure to last, or to find the right dance partner. The route chosen may depend on just how desirable, or choosy, the private company is able to be.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":695,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324443430,"gmtCreate":1616027515920,"gmtModify":1703496511182,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"To the moon","listText":"To the moon","text":"To the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324443430","repostId":"1131950550","repostType":4,"isVote":1,"tweetType":1,"viewCount":469,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132906558,"gmtCreate":1622053544674,"gmtModify":1634184318245,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/132906558","repostId":"2138143109","repostType":4,"isVote":1,"tweetType":1,"viewCount":1698,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190853852,"gmtCreate":1620612066776,"gmtModify":1634197715748,"author":{"id":"3576564970508865","authorId":"3576564970508865","name":"RogerHHY","avatar":"https://static.tigerbbs.com/6ad2b0a1ea722c60a1ec1dfe1733ff6a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576564970508865","idStr":"3576564970508865"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190853852","repostId":"2134686276","repostType":4,"isVote":1,"tweetType":1,"viewCount":2221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}