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2021-09-22

Price too low

抱歉，原内容已删除

2021-08-27

[财迷] [财迷] [财迷]

2021-08-26

[财迷] [财迷] [财迷] [财迷] [财迷]

2021-08-25

[财迷] [财迷] [财迷] [财迷] [财迷]

2021-08-25

$BANK OF CHINA(03988)$[笑哭] [笑哭] [笑哭] [笑哭]

2021-08-25

How to subscribe right issue?

Sembcorp Marine Says Resolution On Proposed Rights Issue Passed At EGM<blockquote>胜科海事表示特别股东大会通过了关于拟议配股的决议</blockquote>

2021-08-24

[笑哭] [笑哭] [笑哭] [笑哭]

2021-08-24

$Digital Turbine(APPS)$[笑哭] [笑哭] [笑哭]

2021-08-23

Can buy now?

2021-08-23

$BANK OF CHINA(03988)$[财迷] [财迷] [财迷] [财迷] [财迷]

2021-08-22

[得意] [得意] [得意] [得意] [得意]

2021-08-22

$Digital Turbine(APPS)$hold?[流泪] [流泪] [流泪]

2021-08-20

Up

抱歉，原内容已删除

2021-08-20

$SEMBCORP MARINE LTD(S51.SI)$h9w?[流泪] [流泪] [流泪] [流泪] [害羞]

2021-08-20

Thanks for information[财迷] [财迷] [财迷]

抱歉，原内容已删除

2021-08-20

Thanks for information

Toplines Before US Market Opens Friday<blockquote>周五美国市场开盘前的顶线</blockquote>

2021-08-20

[呆住] [呆住] [呆住]

Deere Stock Gains After Solid Q3 Results<blockquote>Deere第三季度业绩强劲后股价上涨</blockquote>

2021-08-20

Good

抱歉，原内容已删除

2021-08-19

Can buy now?

抱歉，原内容已删除

2021-08-19

Good[开心] [开心] [开心] [开心]

抱歉，原内容已删除

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[财迷]","images":[{"img":"https://static.tigerbbs.com/59f8b481082f4550535902ed4bdfa408","width":"1080","height":"3386"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/837293178","isVote":1,"tweetType":1,"viewCount":2788,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":837293088,"gmtCreate":1629890151944,"gmtModify":1631888375914,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577252515208021","authorIdStr":"3577252515208021"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/03988\">$BANK OF CHINA(03988)$</a>[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;","listText":"<a href=\"https://laohu8.com/S/03988\">$BANK OF CHINA(03988)$</a>[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;","text":"$BANK OF CHINA(03988)$[笑哭] [笑哭] [笑哭] [笑哭]","images":[{"img":"https://static.tigerbbs.com/358122c5f39b636a18136b51c2f7dea5","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/837293088","isVote":1,"tweetType":1,"viewCount":2279,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":837676313,"gmtCreate":1629888450332,"gmtModify":1631890123599,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577252515208021","authorIdStr":"3577252515208021"},"themes":[],"title":"","htmlText":"How to subscribe right issue?","listText":"How to subscribe right issue?","text":"How to subscribe right issue?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/837676313","repostId":"2161722640","repostType":2,"repost":{"id":"2161722640","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"T-Reuters","id":"1086160438","head_image":"https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5"},"pubTimestamp":1629709345,"share":"https://www.laohunote.com/m/news/2161722640?lang=zh_CN&edition=full","pubTime":"2021-08-23 17:02","market":"us","language":"en","title":"Sembcorp Marine Says Resolution On Proposed Rights Issue Passed At EGM<blockquote>胜科海事表示特别股东大会通过了关于拟议配股的决议</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2161722640","media":"T-Reuters","summary":"Sembcorp Marine Ltd :Resolution On Proposed Rights 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17:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><body>Sembcorp Marine Ltd <scmn.si>:Resolution On Proposed Rights Issue Duly Approved And Passed By Shareholders At Egm.</scmn.si></p><p><blockquote><html><body>胜科海事有限公司<scmn.si>：股东于股东特别大会上正式批准及通过建议供股决议案。</scmn.si></body></html></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U96.SI":"胜科工业"},"source_url":"https://www.trkd.thomsonreuters.com","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161722640","content_text":"Sembcorp Marine Ltd :Resolution On Proposed Rights Issue Duly Approved And Passed By Shareholders At 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[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/836181496","repostId":"2159980642","repostType":2,"isVote":1,"tweetType":1,"viewCount":1106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":836114694,"gmtCreate":1629464580618,"gmtModify":1631890123667,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577252515208021","authorIdStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Thanks for information","listText":"Thanks for information","text":"Thanks for information","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/836114694","repostId":"1180862486","repostType":4,"repost":{"id":"1180862486","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1629460028,"share":"https://www.laohunote.com/m/news/1180862486?lang=zh_CN&edition=full","pubTime":"2021-08-20 19:47","market":"us","language":"en","title":"Toplines Before US Market Opens Friday<blockquote>周五美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180862486","media":"Tiger Newspress","summary":"(Aug 20) U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and t","content":"<p>(Aug 20)&nbsp;U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus hurt economy-linked sectors and put the Dow and the S&amp;P 500 on course for their worst week since mid-June.</p><p><blockquote>（8月20日）美国股指期货周五下跌，因对经济复苏放缓和货币刺激可能缩减的担忧损害了与经济相关的行业，并使道琼斯指数和标普500指数有望迎来自 6 月中旬以来最糟糕的一周。</blockquote></p><p> At 07:52 a.m. ET, Dow E-minis were down 139 points, or 0.40%, S&amp;P 500 E-minis were down&nbsp;16.5 points, or 0.37% and Nasdaq 100 E-minis were&nbsp;down&nbsp;24 points, or 0.16%.</p><p><blockquote>美国东部时间上午 07:52，道琼斯电子迷你指数下跌 139 点，跌幅 0.40%，标普500电子迷你指数下跌 16.5 点，跌幅 0.37%，纳斯达克 100 电子迷你指数下跌 24 点，跌幅 0.16%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c1746670a754aa5714712ad089963b51\" tg-width=\"1242\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前波动最大的股票：</b></blockquote></p><p> 1)&nbsp;<a href=\"https://laohu8.com/S/DE\">John Deere</a> – The heavy equipment maker reported quarterly earnings of $5.32 per share, compared with a consensus estimate of $4.58, and its revenue beat forecasts as well. Deere was up 1.1% in premarket trading as it also raised its full-year earnings forecast on solid demand for farm equipment.</p><p><blockquote>1) <a href=\"https://laohu8.com/S/DE\">约翰·Deere</a>– 这家重型设备制造商公布的季度收益为每股 5.32 美元，而市场普遍预期为 4.58 美元，其收入也超出了预期。Deere在盘前交易中上涨 1.1%，因为该公司还因农业设备需求强劲而上调了全年盈利预测。</blockquote></p><p> 2)&nbsp;<a href=\"https://laohu8.com/S/FL\">Foot Locker</a>&nbsp;– Foot Locker shares surged 6.2% in the premarket after the athletic footwear and apparel maker reported better-than-expected second-quarter results. Foot Locker earned an adjusted $2.21 per share, compared with a $1.01 consensus estimate, and comparable stores sales rose 6.9%. Analysts had expected a slight decline in comp sales.</p><p><blockquote>2) <a href=\"https://laohu8.com/S/FL\">脚部储物柜</a>– 运动鞋和服装制造商 Foot Locker 公布好于预期的第二季度业绩后，其股价在盘前飙升 6.2%。Foot Locker 调整后每股收益为 2.21 美元，而市场普遍预期为 1.01 美元，可比商店销售额增长了 6.9%。分析师此前预计薪酬销售额将略有下降。</blockquote></p><p> 3)&nbsp;<a href=\"https://laohu8.com/S/BKE\">Buckle</a> – The fashion accessories retailer beat estimates by 18 cents with quarterly earnings of $1.04 per share, and revenue above estimates as the company benefited from more in-person shopping. The stock jumped 4.6% in premarket trading.</p><p><blockquote>3) <a href=\"https://laohu8.com/S/BKE\">带扣</a>– 这家时尚配饰零售商的季度收益为每股 1.04 美元，超出预期 18 美分，收入高于预期，因为该公司受益于更多的现场购物。该股在盘前交易中上涨 4.6%。</blockquote></p><p> 4)&nbsp;<a href=\"https://laohu8.com/S/SPOT\">Spotify Technology S.A.</a> – The music streaming service announced that its board approved a $1 billion stock buyback. Chief Financial Officer Paul Vogel said the move demonstrates the company’s confidence in its business and long-term growth opportunities. Spotify added 1.1% in the premarket.</p><p><blockquote>4) <a href=\"https://laohu8.com/S/SPOT\">Spotify技术有限公司</a>– 这家音乐流媒体服务宣布，其董事会批准了 10 亿美元的股票回购。首席财务官保罗-沃格尔（Paul Vogel）表示，此举表明了公司对业务和长期增长机会的信心。Spotify 盘前上涨 1.1%。</blockquote></p><p> 5)&nbsp;<a href=\"https://laohu8.com/S/AMAT\">Applied Materials</a> – The maker of semiconductor manufacturing equipment beat estimates by 13 cents with an adjusted quarterly profit of $1.90 per share and revenue also topping analyst predictions. It also gave a better-than-expected outlook, but Applied Materials shares fell 1.3% in premarket trading.</p><p><blockquote>5) <a href=\"https://laohu8.com/S/AMAT\">应用材料</a>– 这家半导体制造设备制造商超出预期 13 美分，调整后季度利润为每股 1.90 美元，收入也超出了分析师的预期。它还给出了好于预期的前景，但应用材料公司股价在盘前交易中下跌 1.3%。</blockquote></p><p> 6)&nbsp;<a href=\"https://laohu8.com/S/ROST\">Ross</a> – The discount retailer reported a quarterly profit of $1.39 per share, beating the 98 cent consensus estimate, and also reported better-than-expected revenue. However, its current-quarter and full-year earnings outlook fell short of analyst forecasts, and the stock slid 4% in premarket action.</p><p><blockquote>6) <a href=\"https://laohu8.com/S/ROST\">罗斯</a>– 这家折扣零售商公布的季度利润为每股 1.39 美元，超过了 98 美分的市场普遍预期，并且收入也好于预期。然而，其本季度和全年盈利前景低于分析师预测，该股在盘前交易中下跌 4%。</blockquote></p><p> 7)&nbsp;<a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a> – Chief Executive Officer Alex Gorsky announced plans to step aside on Jan. 3, with company veteran Joaquin Duato taking over and Gorsky assuming the role of executive chairman.</p><p><blockquote>7) <a href=\"https://laohu8.com/S/JNJ\">强生公司</a>– 首席执行官亚历克斯·戈尔斯基 (Alex Gorsky) 于 1 月 3 日宣布计划辞职，由公司资深人士华金·杜阿托 (Joaquin Duato) 接任，戈尔斯基 (Gorsky) 担任执行董事长。</blockquote></p><p> 8)&nbsp;<a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors Corp.</a> – The electric vehicle maker’s shares rose 2.1% in the premarket, recovering a small part of the 9.5% Thursday drop that had sent the stock to its lowest since going public. That took place after the annual shareholder meeting that lasted only 10 minutes.</p><p><blockquote>8) <a href=\"https://laohu8.com/S/RIDE\">洛兹敦汽车公司。</a>- 这家电动汽车制造商的股价在盘前上涨了 2.1%，收复了周四 9.5% 跌幅的一小部分，该跌幅曾使其股价跌至上市以来的最低点。这发生在仅持续10分钟的年度股东大会之后。</blockquote></p><p> 9)&nbsp;<a href=\"https://laohu8.com/S/ADBE\">Adobe</a> – The software maker announced a deal to buy cloud-based video collaboration platform Frame.io for $1.275 billion in cash. The acquisition will be used to expand the capabilities of Adobe’s Create Cloud software suite.</p><p><blockquote>9) <a href=\"https://laohu8.com/S/ADBE\">土坯</a>– 该软件制造商宣布以 12.75 亿美元现金收购基于云的视频协作平台 Frame.io。此次收购将用于扩展 Adobe Create Cloud 软件套件的功能。</blockquote></p><p> 10)&nbsp;<a href=\"https://laohu8.com/S/WOOF\">Petco Health and Wellness Company, Inc.</a> – Petco added 2.1% in the premarket to Thursday’s 3.6% gain, with Credit Suisse upgrading the pet products retailer’s stock to “outperform” from “neutral”. Credit Suisse said it is more positive on the outlook for Petco’s business following the company’s upbeat earnings report.</p><p><blockquote>10) <a href=\"https://laohu8.com/S/WOOF\">佩特科健康和保健公司。</a>- Petco 在周四上涨 3.6% 的基础上，盘前上涨 2.1%，瑞士信贷将这家宠物用品零售商的股票评级从 “中性 ”上调至 “跑赢大盘”。瑞士信贷表示，在 Petco 发布乐观的财报后，它对该公司的业务前景更加乐观。</blockquote></p><p> 11)&nbsp;<a href=\"https://laohu8.com/S/MOS\">Mosaic</a> – The fertilizer producer was upgraded to “buy” from “hold” at HSBC, based on expected benefits from higher fertilizer prices.</p><p><blockquote>11) <a href=\"https://laohu8.com/S/MOS\">马赛克</a>- 汇丰银行将化肥生产商的评级从 “持有”上调至 “买入”，原因是预计化肥价格上涨将带来好处。</blockquote></p><p></p><p> <b>In FX,</b>the index continues to extend on the upside seen post-FOMC as the risk tone remains tilted towards caution/risk aversion. Overnight, the DXY found a floor at 93.500 before rising to 93.684 at best as sentiment in Europe is tainted in early trade. From a technical standpoint, the index eyes resistance around the 93.900 mark - which acted as a ceiling on several occasions during Q3 and Q4 2020. Above that, a breach of the psychological 94.000 mark could open the door to resistance around 94.300 (4th Nov 2020 high), 94.500 and thereafter the 100 and 200 WMAs at 94.650 and 94.807 - although these are still some way off. To the downside, yesterday’s low was at 93.214, the psychological 93.000, whilst the 21 DMA (92.674) and the 50 DMA (92.377) reside just below. Ahead, an empty state-side calendar but price action will likely be dictated by the risk tone. As a side note Fed Chair Powell is to speak on the economic outlook at the Jackson Hole Symposium on August 27th at 15:00BST/10:00EDT.</p><p><blockquote><b>在外汇中，</b>由于风险基调仍然倾向于谨慎/避险，该指数继续在联邦公开市场委员会会议后的上行空间上延伸。隔夜，由于欧洲市场情绪受到早盘交易的影响，DXY 指数触及 93.500 点，随后最多升至 93.684 点。从技术角度来看，该指数在 93.900 点附近遇到阻力，该阻力在 2020 年第三季度和第四季度多次成为上限。除此之外，突破心理关口 94.000 可能会为 94.300（2020 年 11 月 4 日高点）、94.500 附近的阻力位打开大门，随后是 94.650 和 94.807 的 100 和 200 WMAs - 尽管这些距离还有一段距离。不利的一面是，昨天的低点为 93.214，心理低点为 93.000，而 21 日均线（92.674）和 50 日均线（92.377）则位于其下方。未来，国家方面的日历是空的，但价格走势可能会受到风险基调的影响。顺便提一下，美联储主席鲍威尔将于8月27日英国夏令时15:00/美国东部时间10:00在杰克逊霍尔研讨会上就经济前景发表讲话。</blockquote></p><p> <b>In commodities,</b>WTI and Brent front-month futures are once again on a softer footing amid the continuing COVID concerns coupled with the cautious tone around the market. On the former, the overnight session saw an extension of the Kiwi nationwide lockdown alongside Australia's Sydney's curbs extended until the end of September. Aside from that news flow has been quiet for the complex and the market in general - with sentiment and Delta woes likely to take precedence in the absence of catalysts. WTI makes its way back towards UD 63/bbl (vs high 64.04/bbl) and Brent towards USD 66/bbl (vs 66.93 high). Elsewhere, spot gold and silver vary but remain flat in the grander scheme above USD 1,775/oz and north of USD 23/oz respectively. Base metals meanwhile see a mild rebound from yesterday's violent selloff, but benchmark LME copper remains sub-9,000/t after finding a ceiling at the mark.</p><p><blockquote><b>在大宗商品方面，</b>由于对新冠疫情的持续担忧以及市场的谨慎基调，WTI 和布伦特原油期货的基础再次走软。在前者中，隔夜会议延长了新西兰全国范围内的封锁，澳大利亚悉尼的限制措施也延长至9月底。除此之外，该综合体和整个市场的消息流一直很平静——在缺乏催化剂的情况下，情绪和三角洲的困境可能会占据主导地位。WTI回到63美元/桶（高点64.04美元/桶），布伦特回到66美元/桶（高点66.93美元/桶）。在其他地方，现货黄金和白银各不相同，但在更大的计划中保持持平，分别高于1775美元/盎司和23美元/盎司以上。与此同时，基本金属从昨天的剧烈抛售中略有反弹，但基准LME铜价在触及上限后仍低于9,000/吨。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Opens Friday<blockquote>周五美国市场开盘前的顶线</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Opens Friday<blockquote>周五美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-20 19:47</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug 20)&nbsp;U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus hurt economy-linked sectors and put the Dow and the S&amp;P 500 on course for their worst week since mid-June.</p><p><blockquote>（8月20日）美国股指期货周五下跌，因对经济复苏放缓和货币刺激可能缩减的担忧损害了与经济相关的行业，并使道琼斯指数和标普500指数有望迎来自 6 月中旬以来最糟糕的一周。</blockquote></p><p> At 07:52 a.m. ET, Dow E-minis were down 139 points, or 0.40%, S&amp;P 500 E-minis were down&nbsp;16.5 points, or 0.37% and Nasdaq 100 E-minis were&nbsp;down&nbsp;24 points, or 0.16%.</p><p><blockquote>美国东部时间上午 07:52，道琼斯电子迷你指数下跌 139 点，跌幅 0.40%，标普500电子迷你指数下跌 16.5 点，跌幅 0.37%，纳斯达克 100 电子迷你指数下跌 24 点，跌幅 0.16%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c1746670a754aa5714712ad089963b51\" tg-width=\"1242\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前波动最大的股票：</b></blockquote></p><p> 1)&nbsp;<a href=\"https://laohu8.com/S/DE\">John Deere</a> – The heavy equipment maker reported quarterly earnings of $5.32 per share, compared with a consensus estimate of $4.58, and its revenue beat forecasts as well. Deere was up 1.1% in premarket trading as it also raised its full-year earnings forecast on solid demand for farm equipment.</p><p><blockquote>1) <a href=\"https://laohu8.com/S/DE\">约翰·Deere</a>– 这家重型设备制造商公布的季度收益为每股 5.32 美元，而市场普遍预期为 4.58 美元，其收入也超出了预期。Deere在盘前交易中上涨 1.1%，因为该公司还因农业设备需求强劲而上调了全年盈利预测。</blockquote></p><p> 2)&nbsp;<a href=\"https://laohu8.com/S/FL\">Foot Locker</a>&nbsp;– Foot Locker shares surged 6.2% in the premarket after the athletic footwear and apparel maker reported better-than-expected second-quarter results. Foot Locker earned an adjusted $2.21 per share, compared with a $1.01 consensus estimate, and comparable stores sales rose 6.9%. Analysts had expected a slight decline in comp sales.</p><p><blockquote>2) <a href=\"https://laohu8.com/S/FL\">脚部储物柜</a>– 运动鞋和服装制造商 Foot Locker 公布好于预期的第二季度业绩后，其股价在盘前飙升 6.2%。Foot Locker 调整后每股收益为 2.21 美元，而市场普遍预期为 1.01 美元，可比商店销售额增长了 6.9%。分析师此前预计薪酬销售额将略有下降。</blockquote></p><p> 3)&nbsp;<a href=\"https://laohu8.com/S/BKE\">Buckle</a> – The fashion accessories retailer beat estimates by 18 cents with quarterly earnings of $1.04 per share, and revenue above estimates as the company benefited from more in-person shopping. The stock jumped 4.6% in premarket trading.</p><p><blockquote>3) <a href=\"https://laohu8.com/S/BKE\">带扣</a>– 这家时尚配饰零售商的季度收益为每股 1.04 美元，超出预期 18 美分，收入高于预期，因为该公司受益于更多的现场购物。该股在盘前交易中上涨 4.6%。</blockquote></p><p> 4)&nbsp;<a href=\"https://laohu8.com/S/SPOT\">Spotify Technology S.A.</a> – The music streaming service announced that its board approved a $1 billion stock buyback. Chief Financial Officer Paul Vogel said the move demonstrates the company’s confidence in its business and long-term growth opportunities. Spotify added 1.1% in the premarket.</p><p><blockquote>4) <a href=\"https://laohu8.com/S/SPOT\">Spotify技术有限公司</a>– 这家音乐流媒体服务宣布，其董事会批准了 10 亿美元的股票回购。首席财务官保罗-沃格尔（Paul Vogel）表示，此举表明了公司对业务和长期增长机会的信心。Spotify 盘前上涨 1.1%。</blockquote></p><p> 5)&nbsp;<a href=\"https://laohu8.com/S/AMAT\">Applied Materials</a> – The maker of semiconductor manufacturing equipment beat estimates by 13 cents with an adjusted quarterly profit of $1.90 per share and revenue also topping analyst predictions. It also gave a better-than-expected outlook, but Applied Materials shares fell 1.3% in premarket trading.</p><p><blockquote>5) <a href=\"https://laohu8.com/S/AMAT\">应用材料</a>– 这家半导体制造设备制造商超出预期 13 美分，调整后季度利润为每股 1.90 美元，收入也超出了分析师的预期。它还给出了好于预期的前景，但应用材料公司股价在盘前交易中下跌 1.3%。</blockquote></p><p> 6)&nbsp;<a href=\"https://laohu8.com/S/ROST\">Ross</a> – The discount retailer reported a quarterly profit of $1.39 per share, beating the 98 cent consensus estimate, and also reported better-than-expected revenue. However, its current-quarter and full-year earnings outlook fell short of analyst forecasts, and the stock slid 4% in premarket action.</p><p><blockquote>6) <a href=\"https://laohu8.com/S/ROST\">罗斯</a>– 这家折扣零售商公布的季度利润为每股 1.39 美元，超过了 98 美分的市场普遍预期，并且收入也好于预期。然而，其本季度和全年盈利前景低于分析师预测，该股在盘前交易中下跌 4%。</blockquote></p><p> 7)&nbsp;<a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a> – Chief Executive Officer Alex Gorsky announced plans to step aside on Jan. 3, with company veteran Joaquin Duato taking over and Gorsky assuming the role of executive chairman.</p><p><blockquote>7) <a href=\"https://laohu8.com/S/JNJ\">强生公司</a>– 首席执行官亚历克斯·戈尔斯基 (Alex Gorsky) 于 1 月 3 日宣布计划辞职，由公司资深人士华金·杜阿托 (Joaquin Duato) 接任，戈尔斯基 (Gorsky) 担任执行董事长。</blockquote></p><p> 8)&nbsp;<a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors Corp.</a> – The electric vehicle maker’s shares rose 2.1% in the premarket, recovering a small part of the 9.5% Thursday drop that had sent the stock to its lowest since going public. That took place after the annual shareholder meeting that lasted only 10 minutes.</p><p><blockquote>8) <a href=\"https://laohu8.com/S/RIDE\">洛兹敦汽车公司。</a>- 这家电动汽车制造商的股价在盘前上涨了 2.1%，收复了周四 9.5% 跌幅的一小部分，该跌幅曾使其股价跌至上市以来的最低点。这发生在仅持续10分钟的年度股东大会之后。</blockquote></p><p> 9)&nbsp;<a href=\"https://laohu8.com/S/ADBE\">Adobe</a> – The software maker announced a deal to buy cloud-based video collaboration platform Frame.io for $1.275 billion in cash. The acquisition will be used to expand the capabilities of Adobe’s Create Cloud software suite.</p><p><blockquote>9) <a href=\"https://laohu8.com/S/ADBE\">土坯</a>– 该软件制造商宣布以 12.75 亿美元现金收购基于云的视频协作平台 Frame.io。此次收购将用于扩展 Adobe Create Cloud 软件套件的功能。</blockquote></p><p> 10)&nbsp;<a href=\"https://laohu8.com/S/WOOF\">Petco Health and Wellness Company, Inc.</a> – Petco added 2.1% in the premarket to Thursday’s 3.6% gain, with Credit Suisse upgrading the pet products retailer’s stock to “outperform” from “neutral”. Credit Suisse said it is more positive on the outlook for Petco’s business following the company’s upbeat earnings report.</p><p><blockquote>10) <a href=\"https://laohu8.com/S/WOOF\">佩特科健康和保健公司。</a>- Petco 在周四上涨 3.6% 的基础上，盘前上涨 2.1%，瑞士信贷将这家宠物用品零售商的股票评级从 “中性 ”上调至 “跑赢大盘”。瑞士信贷表示，在 Petco 发布乐观的财报后，它对该公司的业务前景更加乐观。</blockquote></p><p> 11)&nbsp;<a href=\"https://laohu8.com/S/MOS\">Mosaic</a> – The fertilizer producer was upgraded to “buy” from “hold” at HSBC, based on expected benefits from higher fertilizer prices.</p><p><blockquote>11) <a href=\"https://laohu8.com/S/MOS\">马赛克</a>- 汇丰银行将化肥生产商的评级从 “持有”上调至 “买入”，原因是预计化肥价格上涨将带来好处。</blockquote></p><p></p><p> <b>In FX,</b>the index continues to extend on the upside seen post-FOMC as the risk tone remains tilted towards caution/risk aversion. Overnight, the DXY found a floor at 93.500 before rising to 93.684 at best as sentiment in Europe is tainted in early trade. From a technical standpoint, the index eyes resistance around the 93.900 mark - which acted as a ceiling on several occasions during Q3 and Q4 2020. Above that, a breach of the psychological 94.000 mark could open the door to resistance around 94.300 (4th Nov 2020 high), 94.500 and thereafter the 100 and 200 WMAs at 94.650 and 94.807 - although these are still some way off. To the downside, yesterday’s low was at 93.214, the psychological 93.000, whilst the 21 DMA (92.674) and the 50 DMA (92.377) reside just below. Ahead, an empty state-side calendar but price action will likely be dictated by the risk tone. As a side note Fed Chair Powell is to speak on the economic outlook at the Jackson Hole Symposium on August 27th at 15:00BST/10:00EDT.</p><p><blockquote><b>在外汇中，</b>由于风险基调仍然倾向于谨慎/避险，该指数继续在联邦公开市场委员会会议后的上行空间上延伸。隔夜，由于欧洲市场情绪受到早盘交易的影响，DXY 指数触及 93.500 点，随后最多升至 93.684 点。从技术角度来看，该指数在 93.900 点附近遇到阻力，该阻力在 2020 年第三季度和第四季度多次成为上限。除此之外，突破心理关口 94.000 可能会为 94.300（2020 年 11 月 4 日高点）、94.500 附近的阻力位打开大门，随后是 94.650 和 94.807 的 100 和 200 WMAs - 尽管这些距离还有一段距离。不利的一面是，昨天的低点为 93.214，心理低点为 93.000，而 21 日均线（92.674）和 50 日均线（92.377）则位于其下方。未来，国家方面的日历是空的，但价格走势可能会受到风险基调的影响。顺便提一下，美联储主席鲍威尔将于8月27日英国夏令时15:00/美国东部时间10:00在杰克逊霍尔研讨会上就经济前景发表讲话。</blockquote></p><p> <b>In commodities,</b>WTI and Brent front-month futures are once again on a softer footing amid the continuing COVID concerns coupled with the cautious tone around the market. On the former, the overnight session saw an extension of the Kiwi nationwide lockdown alongside Australia's Sydney's curbs extended until the end of September. Aside from that news flow has been quiet for the complex and the market in general - with sentiment and Delta woes likely to take precedence in the absence of catalysts. WTI makes its way back towards UD 63/bbl (vs high 64.04/bbl) and Brent towards USD 66/bbl (vs 66.93 high). Elsewhere, spot gold and silver vary but remain flat in the grander scheme above USD 1,775/oz and north of USD 23/oz respectively. Base metals meanwhile see a mild rebound from yesterday's violent selloff, but benchmark LME copper remains sub-9,000/t after finding a ceiling at the mark.</p><p><blockquote><b>在大宗商品方面，</b>由于对新冠疫情的持续担忧以及市场的谨慎基调，WTI 和布伦特原油期货的基础再次走软。在前者中，隔夜会议延长了新西兰全国范围内的封锁，澳大利亚悉尼的限制措施也延长至9月底。除此之外，该综合体和整个市场的消息流一直很平静——在缺乏催化剂的情况下，情绪和三角洲的困境可能会占据主导地位。WTI回到63美元/桶（高点64.04美元/桶），布伦特回到66美元/桶（高点66.93美元/桶）。在其他地方，现货黄金和白银各不相同，但在更大的计划中保持持平，分别高于1775美元/盎司和23美元/盎司以上。与此同时，基本金属从昨天的剧烈抛售中略有反弹，但基准LME铜价在触及上限后仍低于9,000/吨。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180862486","content_text":"(Aug 20) U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus hurt economy-linked sectors and put the Dow and the S&P 500 on course for their worst week since mid-June.\nAt 07:52 a.m. ET, Dow E-minis were down 139 points, or 0.40%, S&P 500 E-minis were down 16.5 points, or 0.37% and Nasdaq 100 E-minis were down 24 points, or 0.16%.\n\nStocks making the biggest moves premarket:\n1) John Deere – The heavy equipment maker reported quarterly earnings of $5.32 per share, compared with a consensus estimate of $4.58, and its revenue beat forecasts as well. Deere was up 1.1% in premarket trading as it also raised its full-year earnings forecast on solid demand for farm equipment.\n2) Foot Locker – Foot Locker shares surged 6.2% in the premarket after the athletic footwear and apparel maker reported better-than-expected second-quarter results. Foot Locker earned an adjusted $2.21 per share, compared with a $1.01 consensus estimate, and comparable stores sales rose 6.9%. Analysts had expected a slight decline in comp sales.\n3) Buckle – The fashion accessories retailer beat estimates by 18 cents with quarterly earnings of $1.04 per share, and revenue above estimates as the company benefited from more in-person shopping. The stock jumped 4.6% in premarket trading.\n4) Spotify Technology S.A. – The music streaming service announced that its board approved a $1 billion stock buyback. Chief Financial Officer Paul Vogel said the move demonstrates the company’s confidence in its business and long-term growth opportunities. Spotify added 1.1% in the premarket.\n5) Applied Materials – The maker of semiconductor manufacturing equipment beat estimates by 13 cents with an adjusted quarterly profit of $1.90 per share and revenue also topping analyst predictions. It also gave a better-than-expected outlook, but Applied Materials shares fell 1.3% in premarket trading.\n6) Ross – The discount retailer reported a quarterly profit of $1.39 per share, beating the 98 cent consensus estimate, and also reported better-than-expected revenue. However, its current-quarter and full-year earnings outlook fell short of analyst forecasts, and the stock slid 4% in premarket action.\n7) Johnson & Johnson – Chief Executive Officer Alex Gorsky announced plans to step aside on Jan. 3, with company veteran Joaquin Duato taking over and Gorsky assuming the role of executive chairman.\n8) Lordstown Motors Corp. – The electric vehicle maker’s shares rose 2.1% in the premarket, recovering a small part of the 9.5% Thursday drop that had sent the stock to its lowest since going public. That took place after the annual shareholder meeting that lasted only 10 minutes.\n9) Adobe – The software maker announced a deal to buy cloud-based video collaboration platform Frame.io for $1.275 billion in cash. The acquisition will be used to expand the capabilities of Adobe’s Create Cloud software suite.\n10) Petco Health and Wellness Company, Inc. – Petco added 2.1% in the premarket to Thursday’s 3.6% gain, with Credit Suisse upgrading the pet products retailer’s stock to “outperform” from “neutral”. Credit Suisse said it is more positive on the outlook for Petco’s business following the company’s upbeat earnings report.\n11) Mosaic – The fertilizer producer was upgraded to “buy” from “hold” at HSBC, based on expected benefits from higher fertilizer prices.\nIn FX,the index continues to extend on the upside seen post-FOMC as the risk tone remains tilted towards caution/risk aversion. Overnight, the DXY found a floor at 93.500 before rising to 93.684 at best as sentiment in Europe is tainted in early trade. From a technical standpoint, the index eyes resistance around the 93.900 mark - which acted as a ceiling on several occasions during Q3 and Q4 2020. Above that, a breach of the psychological 94.000 mark could open the door to resistance around 94.300 (4th Nov 2020 high), 94.500 and thereafter the 100 and 200 WMAs at 94.650 and 94.807 - although these are still some way off. To the downside, yesterday’s low was at 93.214, the psychological 93.000, whilst the 21 DMA (92.674) and the 50 DMA (92.377) reside just below. Ahead, an empty state-side calendar but price action will likely be dictated by the risk tone. As a side note Fed Chair Powell is to speak on the economic outlook at the Jackson Hole Symposium on August 27th at 15:00BST/10:00EDT.\nIn commodities,WTI and Brent front-month futures are once again on a softer footing amid the continuing COVID concerns coupled with the cautious tone around the market. On the former, the overnight session saw an extension of the Kiwi nationwide lockdown alongside Australia's Sydney's curbs extended until the end of September. Aside from that news flow has been quiet for the complex and the market in general - with sentiment and Delta woes likely to take precedence in the absence of catalysts. WTI makes its way back towards UD 63/bbl (vs high 64.04/bbl) and Brent towards USD 66/bbl (vs 66.93 high). Elsewhere, spot gold and silver vary but remain flat in the grander scheme above USD 1,775/oz and north of USD 23/oz respectively. Base metals meanwhile see a mild rebound from yesterday's violent selloff, but benchmark LME copper remains sub-9,000/t after finding a ceiling at the mark.","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1057,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836114391,"gmtCreate":1629464552313,"gmtModify":1633684668996,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577252515208021","authorIdStr":"3577252515208021"},"themes":[],"title":"","htmlText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","listText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","text":"[呆住] [呆住] [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/836114391","repostId":"2160571441","repostType":4,"repost":{"id":"2160571441","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1629463677,"share":"https://www.laohunote.com/m/news/2160571441?lang=zh_CN&edition=full","pubTime":"2021-08-20 20:47","market":"hk","language":"en","title":"Deere Stock Gains After Solid Q3 Results<blockquote>Deere第三季度业绩强劲后股价上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2160571441","media":"Benzinga Earnings","summary":"\n","content":"<p><ul>  <li><b><a href=\"https://laohu8.com/S/DE\">John Deere</a> Company&nbsp;</b>(NYSE:&nbsp;DE)&nbsp;reported third-quarter&nbsp;net sales and revenue growth of 29.2% year-over-year to $11.53 billion, beating the consensus of $10.3 billion.</li>  <li>Equipment Operations net sales improved 32%, and the Equipment-division operating margin was 19%.</li>  <li><b>Sales by segments</b>: Production &amp; Precision Agriculture $4.25 billion (+29% Y/Y), Small Agriculture &amp; Turf $3.15 billion (+32% Y/Y), and Construction &amp; Forestry $3.02 billion (+38% Y/Y), Financial services revenues $902 million (+1% Y/Y) and Others $212 million (+22% Y/Y).</li>  <li>EPS improved to $5.32 from $2.57 in 3Q20, beating the consensus of $4.57.</li>  <li>Deere's operating profit increased by 61.4% Y/Y to $2.24 billion, and the margin expanded by 388 bps to 19.5%.</li>  <li>Deere generated cash from operating activities year-to-date of $4.31 billion, compared to $4.06 billion a year ago.</li>  <li>Recently, the company announced&nbsp;the acquisition of the Deere-Hitachi JV business&nbsp;for $275 million as consideration for the factories and intellectual property. The transaction is to be accretive to EPS in the first year.</li>  <li><b>FY21 Outlook:</b>&nbsp;Deere expects net income attributable of $5.7 billion - $5.9 billion (prior $5.3 billion - $5.7 billion). Net operating cash flow from Equipment operations of $5.8 billion - $6 billion.</li>  <li><b>Price Action:&nbsp;</b>DE shares are trading higher by 1.40% ay $363.99 during the premarket session on Friday.</li> </ul></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/DE\">约翰·Deere</a>公司</b>（纽约证券交易所股票代码：DE）公布第三季度净销售额和收入同比增长 29.2%，达到 115.3 亿美元，超过市场普遍预期的 103 亿美元。</li><li>设备运营净销售额增长 32%，设备部门营业利润率为 19%。</li><li><b>分部销售</b>生产和精准农业 42.5 亿美元（同比增长 29%），小型农业和草皮 31.5 亿美元（同比增长 32%），建筑和林业 30.2 亿美元（同比增长 38%），金融服务收入 9.02 亿美元（同比增长 1%），其他 2.12 亿美元（同比增长 22%）。</li><li>2020年第三季度每股收益从 2.57 美元提高到 5.32 美元，超过市场普遍预期的 4.57 美元。</li><li>迪尔营业利润同比增长61.4%至22.4亿美元，利润率扩大388个基点至19.5%。</li><li>Deere今年迄今从经营活动中产生的现金为 43.1 亿美元，而去年同期为 40.6 亿美元。</li><li>最近，该公司宣布以2.75亿美元收购Deere-日立合资企业，作为工厂和知识产权的对价。该交易将在第一年增加每股收益。</li><li><b>二零一一年财年展望：</b>Deere预计净利润为 57 亿美元至 59 亿美元（此前为 53 亿美元至 57 亿美元）。来自设备运营的净运营现金流为 58 亿美元至 60 亿美元。</li><li><b>价格行为：</b>周五盘前交易中，DE 股价上涨 1.40%，至 363.99 美元。</li></ul></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Deere Stock Gains After Solid Q3 Results<blockquote>Deere第三季度业绩强劲后股价上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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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\">\nDeere Stock Gains After Solid Q3 Results<blockquote>Deere第三季度业绩强劲后股价上涨</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 Earnings </p>\n<p class=\"h-time smaller\">2021-08-20 20:47</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><ul>  <li><b><a href=\"https://laohu8.com/S/DE\">John Deere</a> Company&nbsp;</b>(NYSE:&nbsp;DE)&nbsp;reported third-quarter&nbsp;net sales and revenue growth of 29.2% year-over-year to $11.53 billion, beating the consensus of $10.3 billion.</li>  <li>Equipment Operations net sales improved 32%, and the Equipment-division operating margin was 19%.</li>  <li><b>Sales by segments</b>: Production &amp; Precision Agriculture $4.25 billion (+29% Y/Y), Small Agriculture &amp; Turf $3.15 billion (+32% Y/Y), and Construction &amp; Forestry $3.02 billion (+38% Y/Y), Financial services revenues $902 million (+1% Y/Y) and Others $212 million (+22% Y/Y).</li>  <li>EPS improved to $5.32 from $2.57 in 3Q20, beating the consensus of $4.57.</li>  <li>Deere's operating profit increased by 61.4% Y/Y to $2.24 billion, and the margin expanded by 388 bps to 19.5%.</li>  <li>Deere generated cash from operating activities year-to-date of $4.31 billion, compared to $4.06 billion a year ago.</li>  <li>Recently, the company announced&nbsp;the acquisition of the Deere-Hitachi JV business&nbsp;for $275 million as consideration for the factories and intellectual property. The transaction is to be accretive to EPS in the first year.</li>  <li><b>FY21 Outlook:</b>&nbsp;Deere expects net income attributable of $5.7 billion - $5.9 billion (prior $5.3 billion - $5.7 billion). Net operating cash flow from Equipment operations of $5.8 billion - $6 billion.</li>  <li><b>Price Action:&nbsp;</b>DE shares are trading higher by 1.40% ay $363.99 during the premarket session on Friday.</li> </ul></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/DE\">约翰·Deere</a>公司</b>（纽约证券交易所股票代码：DE）公布第三季度净销售额和收入同比增长 29.2%，达到 115.3 亿美元，超过市场普遍预期的 103 亿美元。</li><li>设备运营净销售额增长 32%，设备部门营业利润率为 19%。</li><li><b>分部销售</b>生产和精准农业 42.5 亿美元（同比增长 29%），小型农业和草皮 31.5 亿美元（同比增长 32%），建筑和林业 30.2 亿美元（同比增长 38%），金融服务收入 9.02 亿美元（同比增长 1%），其他 2.12 亿美元（同比增长 22%）。</li><li>2020年第三季度每股收益从 2.57 美元提高到 5.32 美元，超过市场普遍预期的 4.57 美元。</li><li>迪尔营业利润同比增长61.4%至22.4亿美元，利润率扩大388个基点至19.5%。</li><li>Deere今年迄今从经营活动中产生的现金为 43.1 亿美元，而去年同期为 40.6 亿美元。</li><li>最近，该公司宣布以2.75亿美元收购Deere-日立合资企业，作为工厂和知识产权的对价。该交易将在第一年增加每股收益。</li><li><b>二零一一年财年展望：</b>Deere预计净利润为 57 亿美元至 59 亿美元（此前为 53 亿美元至 57 亿美元）。来自设备运营的净运营现金流为 58 亿美元至 60 亿美元。</li><li><b>价格行为：</b>周五盘前交易中，DE 股价上涨 1.40%，至 363.99 美元。</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DE":"迪尔股份有限公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160571441","content_text":"John Deere Company (NYSE: DE) reported third-quarter net sales and revenue growth of 29.2% year-over-year to $11.53 billion, beating the consensus of $10.3 billion.\nEquipment Operations net sales improved 32%, and the Equipment-division operating margin was 19%.\nSales by segments: Production & Precision Agriculture $4.25 billion (+29% Y/Y), Small Agriculture & Turf $3.15 billion (+32% Y/Y), and Construction & Forestry $3.02 billion (+38% Y/Y), Financial services revenues $902 million (+1% Y/Y) and Others $212 million (+22% Y/Y).\nEPS improved to $5.32 from $2.57 in 3Q20, beating the consensus of $4.57.\nDeere's operating profit increased by 61.4% Y/Y to $2.24 billion, and the margin expanded by 388 bps to 19.5%.\nDeere generated cash from operating activities year-to-date of $4.31 billion, compared to $4.06 billion a year ago.\nRecently, the company announced the acquisition of the Deere-Hitachi JV business for $275 million as consideration for the factories and intellectual property. The transaction is to be accretive to EPS in the first year.\nFY21 Outlook: Deere expects net income attributable of $5.7 billion - $5.9 billion (prior $5.3 billion - $5.7 billion). Net operating cash flow from Equipment operations of $5.8 billion - $6 billion.\nPrice Action: DE shares are trading higher by 1.40% ay $363.99 during the premarket session on Friday.","news_type":1,"symbols_score_info":{"DE":0.9}},"isVote":1,"tweetType":1,"viewCount":1212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":836115329,"gmtCreate":1629464515761,"gmtModify":1633684669999,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577252515208021","authorIdStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836115329","repostId":"2160142537","repostType":4,"isVote":1,"tweetType":1,"viewCount":891,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838054933,"gmtCreate":1629361030722,"gmtModify":1633685419700,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577252515208021","authorIdStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Can buy now?","listText":"Can buy now?","text":"Can buy now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838054933","repostId":"1160717844","repostType":4,"isVote":1,"tweetType":1,"viewCount":1027,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831287751,"gmtCreate":1629330470273,"gmtModify":1633685694771,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577252515208021","authorIdStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Good[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;","listText":"Good[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;","text":"Good[开心] [开心] [开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831287751","repostId":"1187178209","repostType":4,"isVote":1,"tweetType":1,"viewCount":1245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":157974821,"gmtCreate":1625562636863,"gmtModify":1631884853592,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>how?","listText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>how?","text":"$SEMBCORP MARINE LTD(S51.SI)$how?","images":[{"img":"https://static.tigerbbs.com/31b493f2467094ae5a4ed0f14eacf66b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":11,"repostSize":2,"link":"https://laohu8.com/post/157974821","isVote":1,"tweetType":1,"viewCount":1540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":897611928,"gmtCreate":1628911609464,"gmtModify":1633688542765,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/897611928","repostId":"1149823415","repostType":4,"repost":{"id":"1149823415","kind":"news","pubTimestamp":1628909753,"share":"https://www.laohunote.com/m/news/1149823415?lang=zh_CN&edition=full","pubTime":"2021-08-14 10:55","market":"us","language":"en","title":"Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河股票会在哪里？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149823415","media":"seekingalpha","summary":"Summary\n\nVirgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"d","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Virgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.</li>  <li>However, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.</li>  <li>We would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.</li>  <li>Lastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00922c9874a28954c08c613b8dbf378b\" tg-width=\"768\" tg-height=\"493\" width=\"100%\" height=\"auto\"><span>Nastco/iStock via Getty Images</span></p><p><blockquote><ul><li>维珍银河财报公布后下跌超过 30%，原因是市场对影响其私人商业收入服务推出的“延迟”感到失望。</li><li>然而，我们认为该公司的“延迟”对于其纠正供应限制并满足该公司正在经历的巨大需求是必要的。</li><li>我们还将详细讨论公司的长期机遇和威胁，以及投资者未来需要监控的内容。</li><li>最后，我们为考虑增加维珍银河敞口的长期投资者提出了我们的估值论点。</li></ul><p class=\"t-img-caption\"><span>Nastco/iStock 来自 Getty Images</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Back in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.</p><p><blockquote>早在 5 月份，当我们发表上一篇关于维珍银河 (SPCE) 的文章（链接到此处的文章）时，我们明确强调，我们认为华尔街的共识对维珍银河的收入预测过于乐观，因为我们认为这些预测在很大程度上夸大了未来 10 年亚轨道太空旅游的市场机会，基于我们咨询了多个来源的研究，我们提交了修订后的预测。</blockquote></p><p> Since then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from&nbsp;late Q3'CY22.</p><p><blockquote>此后，华尔街下调了近期预测，因为该公司最近表示，他们预计要到 2022 年第三季度末才开始商业服务。</blockquote></p><p> This article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.</p><p><blockquote>本文将讨论导致维珍银河“推迟”发射的情况、长期机遇以及维珍在亚轨道太空旅游领域寻求领导地位所面临的竞争威胁。</blockquote></p><p> Lastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.</p><p><blockquote>最后，我们将为现在考虑增加股票敞口的长期投资者提出我们的估值论点。</blockquote></p><p> <b>Revisions to Virgin Galactic's Mean Consensus Estimates</b></p><p><blockquote><b>维珍银河平均共识估计的修订</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e15e65a740bf4a03405cd6f31e82bfc\" tg-width=\"640\" tg-height=\"396\" width=\"100%\" height=\"auto\"><span>May's consensus revenue estimates &amp; Aug's consensus revenue estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>5 月份的共识收入预期和 8 月份的共识收入预期。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/149d99203d29b3a3e785096ccc509c57\" tg-width=\"600\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Scale of revised estimates (Between May and Aug estimates). Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>修订估计数的规模（5月至8月估计数之间）。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> Investors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.</p><p><blockquote>投资者应该能够清楚地了解到，近期共识预测较 5 月份影响 21 财年至 25 财年的预测有所下调。然而，我们认为投资者需要注意的重要一点是，华尔街从 CY26 大幅上调了其预期，以反映 SPCE 在最近的财报看涨期权上强调的强劲需求，我们认为这表明了该公司对长期强劲收入的信心，我们将在后续章节中详细讨论这一点。</blockquote></p><p> <b>Private Commercial Full Revenue Service is Expected from Q3'CY22</b></p><p><blockquote><b>预计从 2022 年第三季度开始提供私人商业全额收入服务</b></blockquote></p><p> SPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.</p><p><blockquote>自 8 月 5 日发布财报以来，SPCE 的价值已下跌约 33%，我们认为这在很大程度上是由于 VSS Unity 和母舰 VMS Eve 提出的关键增强措施导致其商业服务推出“延迟”，从而导致近期不利因素显着增加了飞行和维护之间的周转时间。</blockquote></p><p> As a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.</p><p><blockquote>由于与意大利空军完成 Unity 23 创收飞行后将进行增强，该公司预计仅从 2022 年第三季度末开始其私人商业全额收入服务，我们认为这可能会让投资者感到惊讶，因为虽然市场预计全面商业服务将于 2022 年开始，但他们没想到会迟到第三季度。</blockquote></p><p> However, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:</p><p><blockquote>然而，我们认为市场再次选择关注近期收入服务延迟带来的不确定性，而忽视了预计将显着缩短 VMS Eve 周转时间的增强功能的重要性，以至于维珍银河强调：</blockquote></p><p>   These enhancements  <i>could potentially allow Eve to fly 100 flights between major maintenance inspections</i>. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.  In addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"</p><p><blockquote>这些增强<i>可能允许夏娃在重大维护检查之间飞行 100 次航班</i>这比今天主要检查之间10次飞行的间隔有所增加。在我们制造更多母舰的过程中，这将是早期商业服务时期极其重要的成功因素。此外，该公司还强调，通过这些增强功能，该公司还“目标是将 Unity 航班之间的周转航班缩短至 4 至 5 周，这低于 VSS Unity 最多 7 至 8 周的时间。”</blockquote></p><p></p><p> The Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"</p><p><blockquote>华尔街和市场当然对这一声明感到失望，因为分析师下调了近期预测并下调了评级，摩根士丹利也强调：“在这个繁重的维护期间，维珍银河将无法进行任何太空飞行，直到2022年夏天。”</blockquote></p><p> Sure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:</p><p><blockquote>当然，没有航班。我们当然不担心，因为该公司重申了这些增强功能的重要性：</blockquote></p><p>   These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and  <i>that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today</i>.\"  If investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:</p><p><blockquote>这些都是对Eve的相当稳健的修改。但是我们为Eve的这个增强期采取额外的范围和额外的时间的原因是因为我们将在这个增强期之后从Eve得出的飞行率是我们计划建立的。大检查和我们现在所做的差不多是10倍。这将使我们有能力更频繁地驾驶夏娃<i>这对我们未来的第一批宇航员以及我们从今天开始报名的人来说非常重要</i>.”如果投资者能够清楚地理解该公司在上述句子中使用的语言，那么该公司显然正在这样做，因为他们预计对其太空飞行服务的需求如此强劲，我们认为这可能已经超过了该公司最初的计划。因此，虽然最近与理查德·布兰森爵士举行的发布会在很大程度上被视为一次重大的公关政变，但它无疑让公司能够衡量感兴趣的客户的反应，而且该公司已经明确表示，他们看到了如此强劲的需求，以至于他们需要尽快打开优先列表正如首席执行官 Michael Colglazier 所说：</blockquote></p><p>   Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.  We are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).</p><p><blockquote>利用我们对我们网站的巨大需求，我很高兴地宣布，我们将很快为希望成为下一个太空旅行者开放一个优先名单。在我们的宇航员转换过程结束后，我们将首先联系这份清单，提供任何可用的库存。该名单的注册将很快在我们的网站上提供……我们对整个潜在市场充满信心，这一点从对[理查德·布兰森爵士]Unity 22的反应中可以看出。因此，我们不会吸收所有这些，但我们确实认为我们可以在这里向前迈出一大步。我们不确定市场和其他投资者的想法。尽管如此，该公司仍需要找到一种方法来应对明显严重供应紧张的需求。他们在短期内要做的下一个最好的事情是对VMS Eve和VSS Unity进行必要的修改，以确保这些高价值的潜在客户不会去敲杰夫·贝佐斯的蓝色起源（BORGN）的门。</blockquote></p><p> <b>Are There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?</b></p><p><blockquote><b>真的有那么多客户迫不及待地想加入VSS Unity吗？</b></blockquote></p><p> Yes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket&nbsp;holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"</p><p><blockquote>是的，想到该公司期待着这么多迫不及待地想加入的客户，真是令人难以置信。风险投资公司 Hemisphere Ventures 的执行合伙人丽莎·里奇 (Lisa Rich) 表示：“……这些年来，我见过很多维珍 [银河] 机票持有者。顺便说一句，他们每个人都告诉我，他们花了 25 万美元等待已经收回了 10 倍，因为他们多年来分享的经验。”</blockquote></p><p> Investors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"</p><p><blockquote>投资者应该清楚地了解，致力于维珍银河飞行服务的 600 名未来宇航员社区多年来形成了一个紧密团结的团体，正如该公司所强调的那样：“我认为，除了现有的未来宇航员之外，有一件事可能不太为人所知，那就是维珍银河的秘密武器之一就是我们的宇航员办公室。这是一群人将这 600 人聚集在一起，形成了一个真正的社区。”</blockquote></p><p> The company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"</p><p><blockquote>该公司强调，这些客户非常重视实现飞行体验的旅程，因为这些客户认为这是一次“人生转型之旅”。他们认为维珍银河所做的事情非常有价值，以至于该公司强调，他们的客户认为加入该公司汇集的社区是“首要任务，而且非常强大”。</blockquote></p><p> Importantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.</p><p><blockquote>重要的是，该公司还强调，他们已经向通过该公司的“一小步”计划注册的1000名“宇航员”社区开放了门票销售，价格从每个座位45万美元起，远高于最初600名未来宇航员注册的每个座位20万至25万美元。</blockquote></p><p></p><p> Virgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience<b><i>.</i></b>And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"</p><p><blockquote>维珍银河认为，这些未来的宇航员将成为公司的“销售大使”，因为他们拥有公司精心打造的强大而紧密团结的宇航员社区的经验：“……所以我认为你可以从几个方面来思考终身价值。其中之一是，当人们从未来的宇航员毕业生进入宇航员社区时，我认为他们会回来，我认为人们分享这种经历是非常自然的。<b><i>.</i></b>我认为他们分享这段经历不仅会让人们说那是多么美妙，还会给人类太空飞行的概念带来常态。因此，当我们把这群人带进来时，他们的终身价值是全面的需求，并随着他们走出去分享他们所做的事情，继续增加整个潜在市场。”</blockquote></p><p> <b>Strong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage</b></p><p><blockquote><b>强劲的需求证明快速扩大规模以实现强大的运营杠杆是合理的</b></blockquote></p><p> Astute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.</p><p><blockquote>精明的投资者会清楚地认识到，如果该公司仅仅依靠 VSS Unity 或 VSS Imagine 的机队来主导亚轨道太空旅游市场，那么这在很大程度上是不够的。</blockquote></p><p> Based on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.</p><p><blockquote>根据该公司的指导和华尔街的估计，在不对 VMS Eve 进行修改的情况下，该公司最初由 600 名未来宇航员组成的社区至少需要几年时间。</blockquote></p><p> The initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.</p><p><blockquote>2022年的初始节奏（修改前）是最多10个收入航班，总共包括60名乘客。展望 2023 年，该公司每年最多只能飞行 24 至 36 次航班，这将允许他们最多搭载 144 至 216 名宇航员。因此，到2025年，维珍银河可能至少还需要两年时间才能开始处理1000名宇航员社区的订单，我们认为到那时，至少他们中的一些人会去蓝色起源。因此，最初的节奏确实不起作用，特别是该公司准备很快为 Unity 22 公关活动产生的兴趣制定优先列表，他们需要快速处理 1,600 名未来宇航员，这将在不久的将来通过 Eve 的修改来解决，因为它允许 SPCE 在重大检查之间的飞行次数增加 10 倍。</blockquote></p><p> However, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.</p><p><blockquote>然而，该公司仍然认为这仍然不足以满足他们所经历的需求水平。因此，他们宣布将制造下一代 Delta 级车辆，“能够每隔 1 周启动一次”。随着时间的推移，此类船舶预计将构成该公司未来运力的大部分。</blockquote></p><p> Part of the reason that the company needed to raise the&nbsp;$500M equity&nbsp;offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.</p><p><blockquote>该公司最近需要筹集 5 亿美元股权发行的部分原因是，他们已准备好开始开发和制造 Delta 级车辆，这将极大地有助于满足其长期容量和节奏，VSS Unity 和 VSS Imagine 永远无法满足。</blockquote></p><p> Crucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"</p><p><blockquote>至关重要的是，该公司强调，通过 Delta 级提升产量和运力，他们将能够实现显著的运营杠杆，正如维珍银河所强调的那样：“.....这就是为什么我们如此专注于获得下一代母舰的 Delta 级。这才是我们真正获得效率的地方。这才是我们获得规模的地方。这才是你真正看到流量的地方，因为我们将有一个固定的成本基础，这对我们来说很容易沟通，也很容易为未来的效率做出贡献。”</blockquote></p><p> <b>Competing Against Blue Origin</b></p><p><blockquote><b>与蓝色起源竞争</b></blockquote></p><p> We think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.</p><p><blockquote>我们认为运营杠杆将是这里的游戏名称，维珍银河清楚地认识到，对于该公司来说，以其需求驱动因素所证明的足够规模运营对于与蓝色起源进行强有力的竞争至关重要。</blockquote></p><p> While we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture&nbsp;and the technology we have chosen is complete overkill for a suborbital tourism mission.”</p><p><blockquote>虽然我们不认为蓝色起源的主要游戏是亚轨道太空旅游，但正如杰夫·贝索斯之前强调的那样：“我们选择的架构和技术对于亚轨道旅游任务来说完全是矫枉过正。”</blockquote></p><p> We think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"</p><p><blockquote>我们认为，蓝色起源的主要市场肯定超出了摩根士丹利强调的亚轨道太空旅游，“贝佐斯先生的公司正在太空市场寻求业务，到 2040 年，该市场的规模将扩大两倍，年销售额将超过 1 万亿美元，前提是技术的快速发展能够实现常规登月、小行星采矿和太空旅游”。</blockquote></p><p> Therefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.</p><p><blockquote>因此，虽然蓝色起源专注于建立其太空殖民地的长期愿景，但我们认为他们肯定能够快速提高产量并获得显着的运营杠杆。关键是这些优势如何在短期内转化为其亚轨道太空旅游领域，这将是决定维珍银河领先地位的关键。</blockquote></p><p></p><p> One thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.</p><p><blockquote>有一点是肯定的。两家公司预计，随着生产规模的扩大和技术的进步，亚轨道太空旅游门票的价格将随着时间的推移大幅下降。因此，维珍银河在这个市场上的领导地位和生存的关键是尽快获得运营杠杆以建立这些优势，而蓝色起源则忙于整个领域的各种项目。</blockquote></p><p> Virgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.</p><p><blockquote>维珍银河希望让亚轨道太空旅游更容易获得，而实现这一目标的关键是通过提高产量实现的运营杠杆来降低价格。因此，我们认为该公司的 Delta class 计划对于维珍银河对抗蓝色起源的领导地位至关重要，并强烈鼓励投资者密切关注这些计划。</blockquote></p><p> <b>Free Cash Flow Forecast &amp; Valuations</b></p><p><blockquote><b>自由现金流预测和估值</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48be5e8da375fdc72591e31b96a223f4\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>EBITDA margin forecast &amp; CapEx margin forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EBITDA 利润率预测和资本支出利润率预测。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57509b52b1c0ac46a44e7a0dd619bd97\" tg-width=\"640\" tg-height=\"361\" width=\"100%\" height=\"auto\"><span>EV / Fwd EBITDA trend. Data Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV / Fwd EBITDA 趋势。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> Despite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.</p><p><blockquote>尽管推迟到 2022 年第三季度推出全面收入服务，但华尔街预计该公司将从 2024 财年末开始实现自由现金流盈利。我们认为这很重要，因为它展示了该公司业务在这个市场的长期现金流潜力，目前只有 BORGN 和 SPCE 是该市场的明显领导者。</blockquote></p><p> However, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.</p><p><blockquote>然而，到 2030 年底，估值看起来仍然很昂贵，为 18.5 倍，比航空航天和国防同行的平均薪酬 13.61 倍高出 36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1084f3186f9732fad8d28b824c65de2a\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"><span>Street's mean price target. Source: TIKR</span></p><p><blockquote><p class=\"t-img-caption\"><span>Street 的平均价格目标。资料来源：TIKR</span></p></blockquote></p><p> The Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.</p><p><blockquote>华尔街也不太乐观，因为平均目标价 35.55 美元仅比最后收盘价高出 13.5%，因为分析师关注的是 SPCE 将其收入服务转移到 2022 年第三季度的近期“逆风”，我们认为这对其长期竞争优势非常重要。</blockquote></p><p> While we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.</p><p><blockquote>虽然我们对该公司的长期前景以及将亚轨道太空旅游带给世界的雄心感到非常兴奋，但我们对维珍银河看起来昂贵的估值不太确定。</blockquote></p><p> <b>SPCE Stock Price Action and Trend Analysis</b></p><p><blockquote><b>SPCE 股票价格走势和趋势分析</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f872b3e8670eac6d5ca4d8afce15200\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：TradingView</span></p></blockquote></p><p> While we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.</p><p><blockquote>虽然鉴于其昂贵的估值，我们认为 SPCE 不是一只适合长期投资者的股票，但我们认为头寸交易者仍然可能会发现这只股票潜伏的机会。</blockquote></p><p> SPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.</p><p><blockquote>SPCE 受到 50 周移动平均线动态支撑位的强力支撑，该支撑位自 2020 年以来一直保持强劲，包括最近 5 月份出现的下行（熊市陷阱）的假突破。因此，我们希望，一旦价格走势在未来几周内自行解决，热衷于交易该股票的头寸交易者可能会找到机会。</blockquote></p><p> In summary, we assign a neutral rating to SPCE for long-term investors.</p><p><blockquote>总之，对于长期投资者，我们给予 SPCE 中性评级。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河股票会在哪里？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhere Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河股票会在哪里？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-14 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Virgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.</li>  <li>However, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.</li>  <li>We would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.</li>  <li>Lastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00922c9874a28954c08c613b8dbf378b\" tg-width=\"768\" tg-height=\"493\" width=\"100%\" height=\"auto\"><span>Nastco/iStock via Getty Images</span></p><p><blockquote><ul><li>维珍银河财报公布后下跌超过 30%，原因是市场对影响其私人商业收入服务推出的“延迟”感到失望。</li><li>然而，我们认为该公司的“延迟”对于其纠正供应限制并满足该公司正在经历的巨大需求是必要的。</li><li>我们还将详细讨论公司的长期机遇和威胁，以及投资者未来需要监控的内容。</li><li>最后，我们为考虑增加维珍银河敞口的长期投资者提出了我们的估值论点。</li></ul><p class=\"t-img-caption\"><span>Nastco/iStock 来自 Getty Images</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Back in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.</p><p><blockquote>早在 5 月份，当我们发表上一篇关于维珍银河 (SPCE) 的文章（链接到此处的文章）时，我们明确强调，我们认为华尔街的共识对维珍银河的收入预测过于乐观，因为我们认为这些预测在很大程度上夸大了未来 10 年亚轨道太空旅游的市场机会，基于我们咨询了多个来源的研究，我们提交了修订后的预测。</blockquote></p><p> Since then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from&nbsp;late Q3'CY22.</p><p><blockquote>此后，华尔街下调了近期预测，因为该公司最近表示，他们预计要到 2022 年第三季度末才开始商业服务。</blockquote></p><p> This article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.</p><p><blockquote>本文将讨论导致维珍银河“推迟”发射的情况、长期机遇以及维珍在亚轨道太空旅游领域寻求领导地位所面临的竞争威胁。</blockquote></p><p> Lastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.</p><p><blockquote>最后，我们将为现在考虑增加股票敞口的长期投资者提出我们的估值论点。</blockquote></p><p> <b>Revisions to Virgin Galactic's Mean Consensus Estimates</b></p><p><blockquote><b>维珍银河平均共识估计的修订</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e15e65a740bf4a03405cd6f31e82bfc\" tg-width=\"640\" tg-height=\"396\" width=\"100%\" height=\"auto\"><span>May's consensus revenue estimates &amp; Aug's consensus revenue estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>5 月份的共识收入预期和 8 月份的共识收入预期。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/149d99203d29b3a3e785096ccc509c57\" tg-width=\"600\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Scale of revised estimates (Between May and Aug estimates). Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>修订估计数的规模（5月至8月估计数之间）。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> Investors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.</p><p><blockquote>投资者应该能够清楚地了解到，近期共识预测较 5 月份影响 21 财年至 25 财年的预测有所下调。然而，我们认为投资者需要注意的重要一点是，华尔街从 CY26 大幅上调了其预期，以反映 SPCE 在最近的财报看涨期权上强调的强劲需求，我们认为这表明了该公司对长期强劲收入的信心，我们将在后续章节中详细讨论这一点。</blockquote></p><p> <b>Private Commercial Full Revenue Service is Expected from Q3'CY22</b></p><p><blockquote><b>预计从 2022 年第三季度开始提供私人商业全额收入服务</b></blockquote></p><p> SPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.</p><p><blockquote>自 8 月 5 日发布财报以来，SPCE 的价值已下跌约 33%，我们认为这在很大程度上是由于 VSS Unity 和母舰 VMS Eve 提出的关键增强措施导致其商业服务推出“延迟”，从而导致近期不利因素显着增加了飞行和维护之间的周转时间。</blockquote></p><p> As a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.</p><p><blockquote>由于与意大利空军完成 Unity 23 创收飞行后将进行增强，该公司预计仅从 2022 年第三季度末开始其私人商业全额收入服务，我们认为这可能会让投资者感到惊讶，因为虽然市场预计全面商业服务将于 2022 年开始，但他们没想到会迟到第三季度。</blockquote></p><p> However, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:</p><p><blockquote>然而，我们认为市场再次选择关注近期收入服务延迟带来的不确定性，而忽视了预计将显着缩短 VMS Eve 周转时间的增强功能的重要性，以至于维珍银河强调：</blockquote></p><p>   These enhancements  <i>could potentially allow Eve to fly 100 flights between major maintenance inspections</i>. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.  In addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"</p><p><blockquote>这些增强<i>可能允许夏娃在重大维护检查之间飞行 100 次航班</i>这比今天主要检查之间10次飞行的间隔有所增加。在我们制造更多母舰的过程中，这将是早期商业服务时期极其重要的成功因素。此外，该公司还强调，通过这些增强功能，该公司还“目标是将 Unity 航班之间的周转航班缩短至 4 至 5 周，这低于 VSS Unity 最多 7 至 8 周的时间。”</blockquote></p><p></p><p> The Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"</p><p><blockquote>华尔街和市场当然对这一声明感到失望，因为分析师下调了近期预测并下调了评级，摩根士丹利也强调：“在这个繁重的维护期间，维珍银河将无法进行任何太空飞行，直到2022年夏天。”</blockquote></p><p> Sure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:</p><p><blockquote>当然，没有航班。我们当然不担心，因为该公司重申了这些增强功能的重要性：</blockquote></p><p>   These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and  <i>that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today</i>.\"  If investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:</p><p><blockquote>这些都是对Eve的相当稳健的修改。但是我们为Eve的这个增强期采取额外的范围和额外的时间的原因是因为我们将在这个增强期之后从Eve得出的飞行率是我们计划建立的。大检查和我们现在所做的差不多是10倍。这将使我们有能力更频繁地驾驶夏娃<i>这对我们未来的第一批宇航员以及我们从今天开始报名的人来说非常重要</i>.”如果投资者能够清楚地理解该公司在上述句子中使用的语言，那么该公司显然正在这样做，因为他们预计对其太空飞行服务的需求如此强劲，我们认为这可能已经超过了该公司最初的计划。因此，虽然最近与理查德·布兰森爵士举行的发布会在很大程度上被视为一次重大的公关政变，但它无疑让公司能够衡量感兴趣的客户的反应，而且该公司已经明确表示，他们看到了如此强劲的需求，以至于他们需要尽快打开优先列表正如首席执行官 Michael Colglazier 所说：</blockquote></p><p>   Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.  We are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).</p><p><blockquote>利用我们对我们网站的巨大需求，我很高兴地宣布，我们将很快为希望成为下一个太空旅行者开放一个优先名单。在我们的宇航员转换过程结束后，我们将首先联系这份清单，提供任何可用的库存。该名单的注册将很快在我们的网站上提供……我们对整个潜在市场充满信心，这一点从对[理查德·布兰森爵士]Unity 22的反应中可以看出。因此，我们不会吸收所有这些，但我们确实认为我们可以在这里向前迈出一大步。我们不确定市场和其他投资者的想法。尽管如此，该公司仍需要找到一种方法来应对明显严重供应紧张的需求。他们在短期内要做的下一个最好的事情是对VMS Eve和VSS Unity进行必要的修改，以确保这些高价值的潜在客户不会去敲杰夫·贝佐斯的蓝色起源（BORGN）的门。</blockquote></p><p> <b>Are There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?</b></p><p><blockquote><b>真的有那么多客户迫不及待地想加入VSS Unity吗？</b></blockquote></p><p> Yes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket&nbsp;holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"</p><p><blockquote>是的，想到该公司期待着这么多迫不及待地想加入的客户，真是令人难以置信。风险投资公司 Hemisphere Ventures 的执行合伙人丽莎·里奇 (Lisa Rich) 表示：“……这些年来，我见过很多维珍 [银河] 机票持有者。顺便说一句，他们每个人都告诉我，他们花了 25 万美元等待已经收回了 10 倍，因为他们多年来分享的经验。”</blockquote></p><p> Investors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"</p><p><blockquote>投资者应该清楚地了解，致力于维珍银河飞行服务的 600 名未来宇航员社区多年来形成了一个紧密团结的团体，正如该公司所强调的那样：“我认为，除了现有的未来宇航员之外，有一件事可能不太为人所知，那就是维珍银河的秘密武器之一就是我们的宇航员办公室。这是一群人将这 600 人聚集在一起，形成了一个真正的社区。”</blockquote></p><p> The company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"</p><p><blockquote>该公司强调，这些客户非常重视实现飞行体验的旅程，因为这些客户认为这是一次“人生转型之旅”。他们认为维珍银河所做的事情非常有价值，以至于该公司强调，他们的客户认为加入该公司汇集的社区是“首要任务，而且非常强大”。</blockquote></p><p> Importantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.</p><p><blockquote>重要的是，该公司还强调，他们已经向通过该公司的“一小步”计划注册的1000名“宇航员”社区开放了门票销售，价格从每个座位45万美元起，远高于最初600名未来宇航员注册的每个座位20万至25万美元。</blockquote></p><p></p><p> Virgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience<b><i>.</i></b>And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"</p><p><blockquote>维珍银河认为，这些未来的宇航员将成为公司的“销售大使”，因为他们拥有公司精心打造的强大而紧密团结的宇航员社区的经验：“……所以我认为你可以从几个方面来思考终身价值。其中之一是，当人们从未来的宇航员毕业生进入宇航员社区时，我认为他们会回来，我认为人们分享这种经历是非常自然的。<b><i>.</i></b>我认为他们分享这段经历不仅会让人们说那是多么美妙，还会给人类太空飞行的概念带来常态。因此，当我们把这群人带进来时，他们的终身价值是全面的需求，并随着他们走出去分享他们所做的事情，继续增加整个潜在市场。”</blockquote></p><p> <b>Strong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage</b></p><p><blockquote><b>强劲的需求证明快速扩大规模以实现强大的运营杠杆是合理的</b></blockquote></p><p> Astute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.</p><p><blockquote>精明的投资者会清楚地认识到，如果该公司仅仅依靠 VSS Unity 或 VSS Imagine 的机队来主导亚轨道太空旅游市场，那么这在很大程度上是不够的。</blockquote></p><p> Based on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.</p><p><blockquote>根据该公司的指导和华尔街的估计，在不对 VMS Eve 进行修改的情况下，该公司最初由 600 名未来宇航员组成的社区至少需要几年时间。</blockquote></p><p> The initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.</p><p><blockquote>2022年的初始节奏（修改前）是最多10个收入航班，总共包括60名乘客。展望 2023 年，该公司每年最多只能飞行 24 至 36 次航班，这将允许他们最多搭载 144 至 216 名宇航员。因此，到2025年，维珍银河可能至少还需要两年时间才能开始处理1000名宇航员社区的订单，我们认为到那时，至少他们中的一些人会去蓝色起源。因此，最初的节奏确实不起作用，特别是该公司准备很快为 Unity 22 公关活动产生的兴趣制定优先列表，他们需要快速处理 1,600 名未来宇航员，这将在不久的将来通过 Eve 的修改来解决，因为它允许 SPCE 在重大检查之间的飞行次数增加 10 倍。</blockquote></p><p> However, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.</p><p><blockquote>然而，该公司仍然认为这仍然不足以满足他们所经历的需求水平。因此，他们宣布将制造下一代 Delta 级车辆，“能够每隔 1 周启动一次”。随着时间的推移，此类船舶预计将构成该公司未来运力的大部分。</blockquote></p><p> Part of the reason that the company needed to raise the&nbsp;$500M equity&nbsp;offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.</p><p><blockquote>该公司最近需要筹集 5 亿美元股权发行的部分原因是，他们已准备好开始开发和制造 Delta 级车辆，这将极大地有助于满足其长期容量和节奏，VSS Unity 和 VSS Imagine 永远无法满足。</blockquote></p><p> Crucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"</p><p><blockquote>至关重要的是，该公司强调，通过 Delta 级提升产量和运力，他们将能够实现显著的运营杠杆，正如维珍银河所强调的那样：“.....这就是为什么我们如此专注于获得下一代母舰的 Delta 级。这才是我们真正获得效率的地方。这才是我们获得规模的地方。这才是你真正看到流量的地方，因为我们将有一个固定的成本基础，这对我们来说很容易沟通，也很容易为未来的效率做出贡献。”</blockquote></p><p> <b>Competing Against Blue Origin</b></p><p><blockquote><b>与蓝色起源竞争</b></blockquote></p><p> We think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.</p><p><blockquote>我们认为运营杠杆将是这里的游戏名称，维珍银河清楚地认识到，对于该公司来说，以其需求驱动因素所证明的足够规模运营对于与蓝色起源进行强有力的竞争至关重要。</blockquote></p><p> While we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture&nbsp;and the technology we have chosen is complete overkill for a suborbital tourism mission.”</p><p><blockquote>虽然我们不认为蓝色起源的主要游戏是亚轨道太空旅游，但正如杰夫·贝索斯之前强调的那样：“我们选择的架构和技术对于亚轨道旅游任务来说完全是矫枉过正。”</blockquote></p><p> We think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"</p><p><blockquote>我们认为，蓝色起源的主要市场肯定超出了摩根士丹利强调的亚轨道太空旅游，“贝佐斯先生的公司正在太空市场寻求业务，到 2040 年，该市场的规模将扩大两倍，年销售额将超过 1 万亿美元，前提是技术的快速发展能够实现常规登月、小行星采矿和太空旅游”。</blockquote></p><p> Therefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.</p><p><blockquote>因此，虽然蓝色起源专注于建立其太空殖民地的长期愿景，但我们认为他们肯定能够快速提高产量并获得显着的运营杠杆。关键是这些优势如何在短期内转化为其亚轨道太空旅游领域，这将是决定维珍银河领先地位的关键。</blockquote></p><p></p><p> One thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.</p><p><blockquote>有一点是肯定的。两家公司预计，随着生产规模的扩大和技术的进步，亚轨道太空旅游门票的价格将随着时间的推移大幅下降。因此，维珍银河在这个市场上的领导地位和生存的关键是尽快获得运营杠杆以建立这些优势，而蓝色起源则忙于整个领域的各种项目。</blockquote></p><p> Virgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.</p><p><blockquote>维珍银河希望让亚轨道太空旅游更容易获得，而实现这一目标的关键是通过提高产量实现的运营杠杆来降低价格。因此，我们认为该公司的 Delta class 计划对于维珍银河对抗蓝色起源的领导地位至关重要，并强烈鼓励投资者密切关注这些计划。</blockquote></p><p> <b>Free Cash Flow Forecast &amp; Valuations</b></p><p><blockquote><b>自由现金流预测和估值</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48be5e8da375fdc72591e31b96a223f4\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>EBITDA margin forecast &amp; CapEx margin forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EBITDA 利润率预测和资本支出利润率预测。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57509b52b1c0ac46a44e7a0dd619bd97\" tg-width=\"640\" tg-height=\"361\" width=\"100%\" height=\"auto\"><span>EV / Fwd EBITDA trend. Data Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV / Fwd EBITDA 趋势。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> Despite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.</p><p><blockquote>尽管推迟到 2022 年第三季度推出全面收入服务，但华尔街预计该公司将从 2024 财年末开始实现自由现金流盈利。我们认为这很重要，因为它展示了该公司业务在这个市场的长期现金流潜力，目前只有 BORGN 和 SPCE 是该市场的明显领导者。</blockquote></p><p> However, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.</p><p><blockquote>然而，到 2030 年底，估值看起来仍然很昂贵，为 18.5 倍，比航空航天和国防同行的平均薪酬 13.61 倍高出 36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1084f3186f9732fad8d28b824c65de2a\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"><span>Street's mean price target. Source: TIKR</span></p><p><blockquote><p class=\"t-img-caption\"><span>Street 的平均价格目标。资料来源：TIKR</span></p></blockquote></p><p> The Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.</p><p><blockquote>华尔街也不太乐观，因为平均目标价 35.55 美元仅比最后收盘价高出 13.5%，因为分析师关注的是 SPCE 将其收入服务转移到 2022 年第三季度的近期“逆风”，我们认为这对其长期竞争优势非常重要。</blockquote></p><p> While we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.</p><p><blockquote>虽然我们对该公司的长期前景以及将亚轨道太空旅游带给世界的雄心感到非常兴奋，但我们对维珍银河看起来昂贵的估值不太确定。</blockquote></p><p> <b>SPCE Stock Price Action and Trend Analysis</b></p><p><blockquote><b>SPCE 股票价格走势和趋势分析</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f872b3e8670eac6d5ca4d8afce15200\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：TradingView</span></p></blockquote></p><p> While we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.</p><p><blockquote>虽然鉴于其昂贵的估值，我们认为 SPCE 不是一只适合长期投资者的股票，但我们认为头寸交易者仍然可能会发现这只股票潜伏的机会。</blockquote></p><p> SPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.</p><p><blockquote>SPCE 受到 50 周移动平均线动态支撑位的强力支撑，该支撑位自 2020 年以来一直保持强劲，包括最近 5 月份出现的下行（熊市陷阱）的假突破。因此，我们希望，一旦价格走势在未来几周内自行解决，热衷于交易该股票的头寸交易者可能会找到机会。</blockquote></p><p> In summary, we assign a neutral rating to SPCE for long-term investors.</p><p><blockquote>总之，对于长期投资者，我们给予 SPCE 中性评级。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4449270-virgin-galactic-stock-10-years\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://seekingalpha.com/article/4449270-virgin-galactic-stock-10-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149823415","content_text":"Summary\n\nVirgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.\nHowever, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.\nWe would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.\nLastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.\n\nNastco/iStock via Getty Images\nInvestment Thesis\nBack in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.\nSince then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from late Q3'CY22.\nThis article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.\nLastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.\nRevisions to Virgin Galactic's Mean Consensus Estimates\nMay's consensus revenue estimates & Aug's consensus revenue estimates. Data source: S&P Capital IQ\nScale of revised estimates (Between May and Aug estimates). Data source: S&P Capital IQ\nInvestors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.\nPrivate Commercial Full Revenue Service is Expected from Q3'CY22\nSPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.\nAs a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.\nHowever, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:\n\n These enhancements\n could potentially allow Eve to fly 100 flights between major maintenance inspections. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.\n\nIn addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"\nThe Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"\nSure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:\n\n These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and\n that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today.\"\n\nIf investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:\n\n Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.\n\nWe are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).\nAre There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?\nYes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"\nInvestors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"\nThe company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"\nImportantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.\nVirgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience.And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"\nStrong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage\nAstute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.\nBased on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.\nThe initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.\nHowever, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.\nPart of the reason that the company needed to raise the $500M equity offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.\nCrucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"\nCompeting Against Blue Origin\nWe think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.\nWhile we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture and the technology we have chosen is complete overkill for a suborbital tourism mission.”\nWe think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"\nTherefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.\nOne thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.\nVirgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.\nFree Cash Flow Forecast & Valuations\nEBITDA margin forecast & CapEx margin forecast. Data source: S&P Capital IQ\nEV / Fwd EBITDA trend. Data Source: S&P Capital IQ\nDespite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.\nHowever, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.\nStreet's mean price target. Source: TIKR\nThe Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.\nWhile we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.\nSPCE Stock Price Action and Trend Analysis\nSource: TradingView\nWhile we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.\nSPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.\nIn summary, we assign a neutral rating to SPCE for long-term investors.","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830328902,"gmtCreate":1629015145806,"gmtModify":1633687943773,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Hmmmmm[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;","listText":"Hmmmmm[得意]&nbsp;[得意]&nbsp;[得意]&nbsp;","text":"Hmmmmm[得意] [得意] [得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/830328902","repostId":"2159145532","repostType":4,"isVote":1,"tweetType":1,"viewCount":488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":897490492,"gmtCreate":1628953546416,"gmtModify":1633688323105,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/897490492","repostId":"2159655218","repostType":4,"isVote":1,"tweetType":1,"viewCount":588,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891209806,"gmtCreate":1628389238005,"gmtModify":1633747469637,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/891209806","repostId":"1159872041","repostType":4,"repost":{"id":"1159872041","kind":"news","pubTimestamp":1628385224,"share":"https://www.laohunote.com/m/news/1159872041?lang=zh_CN&edition=full","pubTime":"2021-08-08 09:13","market":"us","language":"en","title":"Tesla Stock: Headed to $1,200?<blockquote>特斯拉股票：走向 1,200 美元？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159872041","media":"Motley Fool","summary":"Tesla deliveries more than doubled year over year in Q2.Rising demand for electric vehicles could benefit Tesla.Investors should exercise caution when it comes to analysts' price targets.It's been a wild year for Teslastock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.In February,Piper Sandler analys","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Tesla deliveries more than doubled year over year in Q2.</li>  <li>Rising demand for electric vehicles could benefit Tesla.</li>  <li>Investors should exercise caution when it comes to analysts' price targets.</li> </ul> It's been a wild year for&nbsp;<b>Tesla</b>(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the&nbsp;<b>S&amp;P 500</b>'s 18% gain this year.</p><p><blockquote><ul><li>特斯拉第二季度交付量同比增长一倍多。</li><li>对电动汽车不断增长的需求可能会使特斯拉受益。</li><li>投资者在谈到分析师的目标价时应谨慎。</li></ul>这是疯狂的一年<b>特斯拉</b>（纳斯达克股票代码：TSLA）股票。今年年初，股价最初飙升超过 20%。但该股现在已经回吐了所有这些涨幅，今年迄今为止的回报率为负 1%。这意味着该股的表现明显逊于<b>标普500</b>今年增长了 18%。</blockquote></p><p> But one analyst thinks the stock could take off.</p><p><blockquote>但一位分析师认为该股可能会上涨。</blockquote></p><p> <b>\"We still really like this stock.\"</b></p><p><blockquote><b>“我们仍然非常喜欢这只股票。”</b></blockquote></p><p> In February,<b>Piper Sandler</b>&nbsp;analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.</p><p><blockquote>二月份，<b>派珀·桑德勒</b>分析师 Alexander Potter 做出了大胆的看涨期权，将 The Growth 股票的 12 个月目标价从 515 美元上调至 1,200 美元。他表示，特斯拉的交付量可能会从 2020 年的 50 万辆增加到今年的近 90 万辆。当然，这一预测是在全球供应短缺恶化之前做出的。然而，特斯拉发展极其迅速。该公司第二季度的交付量比去年同期增加了一倍多，达到 201,304 辆。</blockquote></p><p> Following Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.</p><p><blockquote>特斯拉上月底发布第二季度财报后，该分析师重申了这一目标，并指出该公司似乎有望从市场份额增长、公司自动驾驶软件的货币化以及特斯拉能源业务中“被低估的机会”中受益。业务，其中包括电池储能和太阳能发电产品的收入。</blockquote></p><p> Further, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.</p><p><blockquote>此外，波特指出，特斯拉第二季度营业利润率强劲，高达 11%，他预计特斯拉最近推出的 Autopilot 订阅服务将逐步改善这一利润率。</blockquote></p><p> On Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.</p><p><blockquote>8 月 3 日，波特再次重申了该股的跑赢大盘评级和 1,200 美元的目标价，并表示“我们仍然非常喜欢这只股票”。他指出，总体而言，对电池电动汽车的需求不断增长。</blockquote></p><p> <b>So what gives?</b></p><p><blockquote><b>那么什么给出了呢？</b></blockquote></p><p> If shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.</p><p><blockquote>如果股价真的可以上涨到 1,200 美元，为什么这么多投资者似乎认为该股票的价值如此之低（基于撰写本文时该股票的价格略低于 700 美元）。毕竟，如果投资者普遍认为特斯拉股票在未来 12 个月内可能达到 1,200 美元，那么今天的股价将大幅走高。</blockquote></p><p> The issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.</p><p><blockquote>问题归结为该股的前瞻性估值。截至撰写本文时，特斯拉股票的市盈率约为 370，预计未来几年将实现强劲增长。由于该公司的估值主要基于遥远未来的利润，因此对特斯拉未来增长轨迹的看法略有不同，就会对当今该股的内在价值产生截然不同的假设。</blockquote></p><p> Investors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.</p><p><blockquote>因此，投资者不应仅仅因为一位分析师对股票设定了较高的目标价就迅速购买特斯拉股票。尽管如此，波特对特斯拉强劲的业务势头确实有一些优点。就连特斯拉本身也重申了今年汽车交付量增长 50% 以上的指导，而这一指导是在世界各地许多公司（包括特斯拉）受到供应链短缺负面影响之际提供的。此外，特斯拉管理层在第二季度更新中指出，第三季度对其汽车的需求创历史新高。</blockquote></p><p> While a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.</p><p><blockquote>虽然特斯拉股票 1,200 美元的目标价很难证明其合理性，但股价可能足够低，投资者可以开始少量持有该股。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock: Headed to $1,200?<blockquote>特斯拉股票：走向 1,200 美元？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock: Headed to $1,200?<blockquote>特斯拉股票：走向 1,200 美元？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-08-08 09:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Tesla deliveries more than doubled year over year in Q2.</li>  <li>Rising demand for electric vehicles could benefit Tesla.</li>  <li>Investors should exercise caution when it comes to analysts' price targets.</li> </ul> It's been a wild year for&nbsp;<b>Tesla</b>(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the&nbsp;<b>S&amp;P 500</b>'s 18% gain this year.</p><p><blockquote><ul><li>特斯拉第二季度交付量同比增长一倍多。</li><li>对电动汽车不断增长的需求可能会使特斯拉受益。</li><li>投资者在谈到分析师的目标价时应谨慎。</li></ul>这是疯狂的一年<b>特斯拉</b>（纳斯达克股票代码：TSLA）股票。今年年初，股价最初飙升超过 20%。但该股现在已经回吐了所有这些涨幅，今年迄今为止的回报率为负 1%。这意味着该股的表现明显逊于<b>标普500</b>今年增长了 18%。</blockquote></p><p> But one analyst thinks the stock could take off.</p><p><blockquote>但一位分析师认为该股可能会上涨。</blockquote></p><p> <b>\"We still really like this stock.\"</b></p><p><blockquote><b>“我们仍然非常喜欢这只股票。”</b></blockquote></p><p> In February,<b>Piper Sandler</b>&nbsp;analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.</p><p><blockquote>二月份，<b>派珀·桑德勒</b>分析师 Alexander Potter 做出了大胆的看涨期权，将 The Growth 股票的 12 个月目标价从 515 美元上调至 1,200 美元。他表示，特斯拉的交付量可能会从 2020 年的 50 万辆增加到今年的近 90 万辆。当然，这一预测是在全球供应短缺恶化之前做出的。然而，特斯拉发展极其迅速。该公司第二季度的交付量比去年同期增加了一倍多，达到 201,304 辆。</blockquote></p><p> Following Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.</p><p><blockquote>特斯拉上月底发布第二季度财报后，该分析师重申了这一目标，并指出该公司似乎有望从市场份额增长、公司自动驾驶软件的货币化以及特斯拉能源业务中“被低估的机会”中受益。业务，其中包括电池储能和太阳能发电产品的收入。</blockquote></p><p> Further, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.</p><p><blockquote>此外，波特指出，特斯拉第二季度营业利润率强劲，高达 11%，他预计特斯拉最近推出的 Autopilot 订阅服务将逐步改善这一利润率。</blockquote></p><p> On Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.</p><p><blockquote>8 月 3 日，波特再次重申了该股的跑赢大盘评级和 1,200 美元的目标价，并表示“我们仍然非常喜欢这只股票”。他指出，总体而言，对电池电动汽车的需求不断增长。</blockquote></p><p> <b>So what gives?</b></p><p><blockquote><b>那么什么给出了呢？</b></blockquote></p><p> If shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.</p><p><blockquote>如果股价真的可以上涨到 1,200 美元，为什么这么多投资者似乎认为该股票的价值如此之低（基于撰写本文时该股票的价格略低于 700 美元）。毕竟，如果投资者普遍认为特斯拉股票在未来 12 个月内可能达到 1,200 美元，那么今天的股价将大幅走高。</blockquote></p><p> The issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.</p><p><blockquote>问题归结为该股的前瞻性估值。截至撰写本文时，特斯拉股票的市盈率约为 370，预计未来几年将实现强劲增长。由于该公司的估值主要基于遥远未来的利润，因此对特斯拉未来增长轨迹的看法略有不同，就会对当今该股的内在价值产生截然不同的假设。</blockquote></p><p> Investors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.</p><p><blockquote>因此，投资者不应仅仅因为一位分析师对股票设定了较高的目标价就迅速购买特斯拉股票。尽管如此，波特对特斯拉强劲的业务势头确实有一些优点。就连特斯拉本身也重申了今年汽车交付量增长 50% 以上的指导，而这一指导是在世界各地许多公司（包括特斯拉）受到供应链短缺负面影响之际提供的。此外，特斯拉管理层在第二季度更新中指出，第三季度对其汽车的需求创历史新高。</blockquote></p><p> While a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.</p><p><blockquote>虽然特斯拉股票 1,200 美元的目标价很难证明其合理性，但股价可能足够低，投资者可以开始少量持有该股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159872041","content_text":"Key Points\n\nTesla deliveries more than doubled year over year in Q2.\nRising demand for electric vehicles could benefit Tesla.\nInvestors should exercise caution when it comes to analysts' price targets.\n\nIt's been a wild year for Tesla(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.\nBut one analyst thinks the stock could take off.\n\"We still really like this stock.\"\nIn February,Piper Sandler analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.\nFollowing Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.\nFurther, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.\nOn Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.\nSo what gives?\nIf shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.\nThe issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.\nInvestors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.\nWhile a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":628,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151189834,"gmtCreate":1625067456328,"gmtModify":1631884853693,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>after right issue what&nbsp;price will be maintained?","listText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>after right issue what&nbsp;price will be maintained?","text":"$SEMBCORP MARINE LTD(S51.SI)$after right issue what price will be maintained?","images":[{"img":"https://static.tigerbbs.com/8116de26abfe9da292b92314a1a69acf","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/151189834","isVote":1,"tweetType":1,"viewCount":1355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":894866369,"gmtCreate":1628816989651,"gmtModify":1631884765009,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>[无语]&nbsp;[无语]&nbsp;[无语]&nbsp;","listText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>[无语]&nbsp;[无语]&nbsp;[无语]&nbsp;","text":"$SEMBCORP MARINE LTD(S51.SI)$[无语] [无语] [无语]","images":[{"img":"https://static.tigerbbs.com/05b335e270408f43c564c5dcd6a4912f","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/894866369","isVote":1,"tweetType":1,"viewCount":454,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":809756106,"gmtCreate":1627394167605,"gmtModify":1633765427307,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/809756106","repostId":"1112531605","repostType":4,"isVote":1,"tweetType":1,"viewCount":439,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897499608,"gmtCreate":1628953625004,"gmtModify":1633688322495,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Good[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"Good[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"Good[财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/897499608","repostId":"1144073354","repostType":4,"repost":{"id":"1144073354","kind":"news","pubTimestamp":1628904044,"share":"https://www.laohunote.com/m/news/1144073354?lang=zh_CN&edition=full","pubTime":"2021-08-14 09:20","market":"us","language":"en","title":"Dow, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么令人兴奋。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144073354","media":"Barrons","summary":"Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should ","content":"<p>Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should hope it stays that way.</p><p><blockquote>冒险。兴奋。最近股市似乎并不渴望这些东西。投资者应该希望它能保持这种状态。</blockquote></p><p> It wasn’t quite like watching paint dry this past week, but it wasn’t that far off, either. Earnings reports were few and far between, the most prominent coming from Walt Disney (ticker: DIS) and eBay (EBAY). The economic news, including July’s consumer-price data, didn’t contain any shockers. And while the S&amp;P 500 closed the week on a streak of four new highs, one of them was by less than a quarter of&nbsp;a point. The index rose 0.7%, to 4468.00, while the&nbsp;Dow Jones Industrial Average&nbsp;gained 306.87 points, or 0.9%, to 35,515.38. The&nbsp;Nasdaq Composite&nbsp;dipped 0.1%. to 14,822.90.</p><p><blockquote>在过去的一周里，这并不像是看着油漆变干，但也不远了。收益报告很少，其中最突出的来自华特迪士尼（股票代码：DIS）和 eBay（EBAY）。包括 7 月份消费者价格数据在内的经济新闻没有任何令人震惊的消息。虽然标普500本周连续创下四个新高，但其中一个高点不到四分之一个百分点。该指数上涨 0.7%，至 4468.00 点；道琼斯工业平均指数上涨 306.87 点，或 0.9%，至 35,515.38 点。纳斯达克综合指数下跌 0.1%。至14,822.90。</blockquote></p><p> Exuberance this ain’t.</p><p><blockquote>这不是繁荣。</blockquote></p><p> <b>Why Stock Prices Are Poised to Keep Rising</b></p><p><blockquote><b>为什么股价有望继续上涨</b></blockquote></p><p> Still, there was some action underneath the surface. Tech,particularly chip stockslikeMicron Technology(MU),Lam Research(LRCX), andApplied Materials(AMAT), took it on the chin, while banks, includingGoldman Sachs Group(GS), and industrials such asCaterpillar(CAT), soared. And theInvesco S&amp;P 500 Equal Weightexchange-traded fund (RSP) gained 0.8% on the week, outpacing the market-cap-weighted version.</p><p><blockquote>尽管如此，表面之下还是有一些行动。科技股，尤其是美光科技 (MU)、Lam Research (LRCX) 和应用材料 (AMAT) 等芯片股，表现突出，而高盛集团 (GS) 等银行股和特彼勒 (CAT) 等工业股则飙升。景顺标普500等权重交易所交易基金 (RSP) 本周上涨 0.8%，超过市值加权版本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d14ffc0d585bc642e9dfa4eebe4b998b\" tg-width=\"964\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> That suggests that&nbsp;the stock market is rotating&nbsp;once again, out of tech and other growth stocks, which had been outperforming since May, and back into stocks that benefit from the strength of the U.S. economy, says Katie Stockton, founder of Fairlead Strategies. “A lot of rotation in constituents can fuel a bull market,” she says, noting that if more stocks start winning, it’s only a matter of time before the small-cap&nbsp;Russell 2000 index&nbsp;does, too.</p><p><blockquote>Fairlead Strategies 创始人凯蒂·斯托克顿 (Katie Stockton) 表示，这表明股市正在再次轮动，从自 5 月份以来表现优异的科技股和其他成长型股票，回到受益于美国经济强劲的股票。“她说：”成分股的大量轮换可以推动牛市，并指出，如果更多股票开始上涨，小盘股罗素 2000 指数也只是时间问题。</blockquote></p><p> That cyclicals have started breaking out again is impressive, particularly given the nonstop focus on the Covid-19 Delta variant. Whether it’s about states like&nbsp;Mississippi&nbsp;and&nbsp;Florida, or the Food and Drug Administration’s&nbsp;approval of a vaccine booster&nbsp;shot for people with compromised immune systems, renewed pandemic fears should have hit those stocks hard. That they didn’t says a lot about what investors are thinking.</p><p><blockquote>周期性股票再次开始爆发，这令人印象深刻，特别是考虑到人们对 Covid-19 德尔塔变异毒株的持续关注。无论是密西西比州和佛罗里达州等州，还是美国食品和药物管理局批准为免疫系统受损的人注射疫苗加强针，对大流行病的担忧再次爆发应该会对这些股票造成沉重打击。他们并没有透露太多投资者的想法。</blockquote></p><p> “If you just look at the market action this week, it’s saying the Delta variant is a public-health crisis, but not an economic crisis,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.</p><p><blockquote>“CIBC Private Wealth US 首席投资官 Dave Donabedian 说：”如果你只看本周的市场走势，就会发现德尔塔变异毒株是一场公共卫生危机，而不是一场经济危机。</blockquote></p><p> At some point, the boredom will end, and the market will get more volatile. And the biggest risk might be that investors use the volatility to push the entire stock market higher, notes BTIG’s Julian Emanuel, treating it like one big meme stock.</p><p><blockquote>在某个时候，无聊会结束，市场会变得更加波动。BTIG 的朱利安-伊曼纽尔（Julian Emanuel）指出，最大的风险可能是投资者利用波动性将整个股市推高，他将其视为一只大型备忘录股票。</blockquote></p><p> “[The] dramatic price action in ‘meme stocks’ both old and new raises the probability that higher volatility could result in an ‘altered reality’ exception,” he writes. “And there is only one previous exception where volatility went up and stocks continued to go up, and up, and up. At least for a while.”</p><p><blockquote>“他写道：”新老'meme股票'的剧烈价格走势增加了波动性加大可能导致'现实改变'例外的可能性。“以前只有一个例外，那就是波动性上升，股市继续上涨，上涨，上涨。至少在一段时间内是这样。”</blockquote></p><p> That, of course, was in 1999. Let’s hope we avoid the kind of excitement that followed.</p><p><blockquote>当然，那是在1999年。希望我们能避免随之而来的那种兴奋。</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>Dow, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么令人兴奋。</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\">\nDow, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么令人兴奋。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-08-14 09:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should hope it stays that way.</p><p><blockquote>冒险。兴奋。最近股市似乎并不渴望这些东西。投资者应该希望它能保持这种状态。</blockquote></p><p> It wasn’t quite like watching paint dry this past week, but it wasn’t that far off, either. Earnings reports were few and far between, the most prominent coming from Walt Disney (ticker: DIS) and eBay (EBAY). The economic news, including July’s consumer-price data, didn’t contain any shockers. And while the S&amp;P 500 closed the week on a streak of four new highs, one of them was by less than a quarter of&nbsp;a point. The index rose 0.7%, to 4468.00, while the&nbsp;Dow Jones Industrial Average&nbsp;gained 306.87 points, or 0.9%, to 35,515.38. The&nbsp;Nasdaq Composite&nbsp;dipped 0.1%. to 14,822.90.</p><p><blockquote>在过去的一周里，这并不像是看着油漆变干，但也不远了。收益报告很少，其中最突出的来自华特迪士尼（股票代码：DIS）和 eBay（EBAY）。包括 7 月份消费者价格数据在内的经济新闻没有任何令人震惊的消息。虽然标普500本周连续创下四个新高，但其中一个高点不到四分之一个百分点。该指数上涨 0.7%，至 4468.00 点；道琼斯工业平均指数上涨 306.87 点，或 0.9%，至 35,515.38 点。纳斯达克综合指数下跌 0.1%。至14,822.90。</blockquote></p><p> Exuberance this ain’t.</p><p><blockquote>这不是繁荣。</blockquote></p><p> <b>Why Stock Prices Are Poised to Keep Rising</b></p><p><blockquote><b>为什么股价有望继续上涨</b></blockquote></p><p> Still, there was some action underneath the surface. Tech,particularly chip stockslikeMicron Technology(MU),Lam Research(LRCX), andApplied Materials(AMAT), took it on the chin, while banks, includingGoldman Sachs Group(GS), and industrials such asCaterpillar(CAT), soared. And theInvesco S&amp;P 500 Equal Weightexchange-traded fund (RSP) gained 0.8% on the week, outpacing the market-cap-weighted version.</p><p><blockquote>尽管如此，表面之下还是有一些行动。科技股，尤其是美光科技 (MU)、Lam Research (LRCX) 和应用材料 (AMAT) 等芯片股，表现突出，而高盛集团 (GS) 等银行股和特彼勒 (CAT) 等工业股则飙升。景顺标普500等权重交易所交易基金 (RSP) 本周上涨 0.8%，超过市值加权版本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d14ffc0d585bc642e9dfa4eebe4b998b\" tg-width=\"964\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> That suggests that&nbsp;the stock market is rotating&nbsp;once again, out of tech and other growth stocks, which had been outperforming since May, and back into stocks that benefit from the strength of the U.S. economy, says Katie Stockton, founder of Fairlead Strategies. “A lot of rotation in constituents can fuel a bull market,” she says, noting that if more stocks start winning, it’s only a matter of time before the small-cap&nbsp;Russell 2000 index&nbsp;does, too.</p><p><blockquote>Fairlead Strategies 创始人凯蒂·斯托克顿 (Katie Stockton) 表示，这表明股市正在再次轮动，从自 5 月份以来表现优异的科技股和其他成长型股票，回到受益于美国经济强劲的股票。“她说：”成分股的大量轮换可以推动牛市，并指出，如果更多股票开始上涨，小盘股罗素 2000 指数也只是时间问题。</blockquote></p><p> That cyclicals have started breaking out again is impressive, particularly given the nonstop focus on the Covid-19 Delta variant. Whether it’s about states like&nbsp;Mississippi&nbsp;and&nbsp;Florida, or the Food and Drug Administration’s&nbsp;approval of a vaccine booster&nbsp;shot for people with compromised immune systems, renewed pandemic fears should have hit those stocks hard. That they didn’t says a lot about what investors are thinking.</p><p><blockquote>周期性股票再次开始爆发，这令人印象深刻，特别是考虑到人们对 Covid-19 德尔塔变异毒株的持续关注。无论是密西西比州和佛罗里达州等州，还是美国食品和药物管理局批准为免疫系统受损的人注射疫苗加强针，对大流行病的担忧再次爆发应该会对这些股票造成沉重打击。他们并没有透露太多投资者的想法。</blockquote></p><p> “If you just look at the market action this week, it’s saying the Delta variant is a public-health crisis, but not an economic crisis,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.</p><p><blockquote>“CIBC Private Wealth US 首席投资官 Dave Donabedian 说：”如果你只看本周的市场走势，就会发现德尔塔变异毒株是一场公共卫生危机，而不是一场经济危机。</blockquote></p><p> At some point, the boredom will end, and the market will get more volatile. And the biggest risk might be that investors use the volatility to push the entire stock market higher, notes BTIG’s Julian Emanuel, treating it like one big meme stock.</p><p><blockquote>在某个时候，无聊会结束，市场会变得更加波动。BTIG 的朱利安-伊曼纽尔（Julian Emanuel）指出，最大的风险可能是投资者利用波动性将整个股市推高，他将其视为一只大型备忘录股票。</blockquote></p><p> “[The] dramatic price action in ‘meme stocks’ both old and new raises the probability that higher volatility could result in an ‘altered reality’ exception,” he writes. “And there is only one previous exception where volatility went up and stocks continued to go up, and up, and up. At least for a while.”</p><p><blockquote>“他写道：”新老'meme股票'的剧烈价格走势增加了波动性加大可能导致'现实改变'例外的可能性。“以前只有一个例外，那就是波动性上升，股市继续上涨，上涨，上涨。至少在一段时间内是这样。”</blockquote></p><p> That, of course, was in 1999. Let’s hope we avoid the kind of excitement that followed.</p><p><blockquote>当然，那是在1999年。希望我们能避免随之而来的那种兴奋。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/dow-stock-market-sp-500-51628901659?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/dow-stock-market-sp-500-51628901659?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144073354","content_text":"Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should hope it stays that way.\nIt wasn’t quite like watching paint dry this past week, but it wasn’t that far off, either. Earnings reports were few and far between, the most prominent coming from Walt Disney (ticker: DIS) and eBay (EBAY). The economic news, including July’s consumer-price data, didn’t contain any shockers. And while the S&P 500 closed the week on a streak of four new highs, one of them was by less than a quarter of a point. The index rose 0.7%, to 4468.00, while the Dow Jones Industrial Average gained 306.87 points, or 0.9%, to 35,515.38. The Nasdaq Composite dipped 0.1%. to 14,822.90.\nExuberance this ain’t.\nWhy Stock Prices Are Poised to Keep Rising\nStill, there was some action underneath the surface. Tech,particularly chip stockslikeMicron Technology(MU),Lam Research(LRCX), andApplied Materials(AMAT), took it on the chin, while banks, includingGoldman Sachs Group(GS), and industrials such asCaterpillar(CAT), soared. And theInvesco S&P 500 Equal Weightexchange-traded fund (RSP) gained 0.8% on the week, outpacing the market-cap-weighted version.\n\nThat suggests that the stock market is rotating once again, out of tech and other growth stocks, which had been outperforming since May, and back into stocks that benefit from the strength of the U.S. economy, says Katie Stockton, founder of Fairlead Strategies. “A lot of rotation in constituents can fuel a bull market,” she says, noting that if more stocks start winning, it’s only a matter of time before the small-cap Russell 2000 index does, too.\nThat cyclicals have started breaking out again is impressive, particularly given the nonstop focus on the Covid-19 Delta variant. Whether it’s about states like Mississippi and Florida, or the Food and Drug Administration’s approval of a vaccine booster shot for people with compromised immune systems, renewed pandemic fears should have hit those stocks hard. That they didn’t says a lot about what investors are thinking.\n“If you just look at the market action this week, it’s saying the Delta variant is a public-health crisis, but not an economic crisis,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.\nAt some point, the boredom will end, and the market will get more volatile. And the biggest risk might be that investors use the volatility to push the entire stock market higher, notes BTIG’s Julian Emanuel, treating it like one big meme stock.\n“[The] dramatic price action in ‘meme stocks’ both old and new raises the probability that higher volatility could result in an ‘altered reality’ exception,” he writes. “And there is only one previous exception where volatility went up and stocks continued to go up, and up, and up. At least for a while.”\nThat, of course, was in 1999. Let’s hope we avoid the kind of excitement that followed.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":897490597,"gmtCreate":1628953509519,"gmtModify":1633688323228,"author":{"id":"3577252515208021","authorId":"3577252515208021","name":"lauwl97460","avatar":"https://static.tigerbbs.com/cd6ec96a45f5f52eb93e43bafa3c3599","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577252515208021","idStr":"3577252515208021"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/897490597","repostId":"2159321505","repostType":4,"repost":{"id":"2159321505","kind":"highlight","pubTimestamp":1628911811,"share":"https://www.laohunote.com/m/news/2159321505?lang=zh_CN&edition=full","pubTime":"2021-08-14 11:30","market":"us","language":"en","title":"Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在 10 月股东大会上做出其他改变</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2159321505","media":"MarketWatch","summary":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. ","content":"<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员任期两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官埃隆·马斯克去年在德国。MAJA HITIJ/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚些时候提交的文件中表示，该公司将于 10 月 7 日在加利福尼亚州弗里蒙特工厂召开股东大会，在这家电动汽车制造商将提出的提案中，看涨期权是减少董事任期。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项提案是将每位董事的任期从三年缩短至两年。特斯拉董事会目前有九名成员，分为三个班级，交错任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个阶层，任期交错为两年，董事在两个阶层之间尽可能平均分配。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自 2007 年以来一直在特斯拉董事会任职的风险投资家 Antonio Gracias 在 2019 年表示，他将在今年任期结束时不再寻求连任，因此董事会成员将减少到八人。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名新闻集团创始人默多克的小儿子詹姆斯-默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的弟弟金巴尔-马斯克（Kimbal Musk）连任二级董事，任期将于 2024 年届满。该公司表示，如果缩短任期获得批准，那么他们的任期将于 2023 年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提案的回应，该提案要求选举每位董事会成员一年。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>特斯拉说，不过，两年的任期 “在公司的长期利益和此时对股东的短期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日结束时下跌 0.7%，在盘后交易中持平。该股今年上涨了 1.6%，而标普500指数的涨幅约为 19%。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在 10 月股东大会上做出其他改变</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在 10 月股东大会上做出其他改变</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-14 11:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员任期两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官埃隆·马斯克去年在德国。MAJA HITIJ/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚些时候提交的文件中表示，该公司将于 10 月 7 日在加利福尼亚州弗里蒙特工厂召开股东大会，在这家电动汽车制造商将提出的提案中，看涨期权是减少董事任期。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项提案是将每位董事的任期从三年缩短至两年。特斯拉董事会目前有九名成员，分为三个班级，交错任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个阶层，任期交错为两年，董事在两个阶层之间尽可能平均分配。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自 2007 年以来一直在特斯拉董事会任职的风险投资家 Antonio Gracias 在 2019 年表示，他将在今年任期结束时不再寻求连任，因此董事会成员将减少到八人。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名新闻集团创始人默多克的小儿子詹姆斯-默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的弟弟金巴尔-马斯克（Kimbal Musk）连任二级董事，任期将于 2024 年届满。该公司表示，如果缩短任期获得批准，那么他们的任期将于 2023 年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提案的回应，该提案要求选举每位董事会成员一年。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>特斯拉说，不过，两年的任期 “在公司的长期利益和此时对股东的短期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日结束时下跌 0.7%，在盘后交易中持平。该股今年上涨了 1.6%，而标普500指数的涨幅约为 19%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159321505","content_text":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES\nTesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.\nOne of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s board currently has nine members who are divided into three classes in staggered three-year terms.\nIf the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the filing.\nThe board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.\nTesla’s board nominated current board members James Murdoch, the youngest son of News Corp founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.\nTesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.\nThe two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.\nTesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&P 500 index.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}