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Chasiu

Chasiu

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2021-07-28

Good

Toplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>

2021-08-24

Gogo

China's Pinduoduo misses quarterly revenue expectations<blockquote>中国拼多多未达季度收入预期</blockquote>

2021-09-02

Sad

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2021-08-05

Nice

10 stocks that have what it takes to be a ‘perfect’ company<blockquote>10 只股票具备成为“完美”公司的条件</blockquote>

2021-07-29

Ok

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2021-07-22

Good

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2021-09-10

Nice

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2021-09-03

Omg

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2021-08-20

Nice

NVDA soars over 6% in morning trading<blockquote>NVDA 早盘交易中飙升超过 6%</blockquote>

2021-08-09

Awesome

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holding","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887154043","isVote":1,"tweetType":1,"viewCount":3537,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887158565,"gmtCreate":1632011175557,"gmtModify":1632804882335,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/887158565","repostId":"1128389145","repostType":4,"isVote":1,"tweetType":1,"viewCount":2430,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882490976,"gmtCreate":1631713252595,"gmtModify":1631891507858,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/882490976","repostId":"1195655593","repostType":4,"repost":{"id":"1195655593","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":1631712759,"share":"https://www.laohunote.com/m/news/1195655593?lang=zh_CN&edition=full","pubTime":"2021-09-15 21:32","market":"us","language":"en","title":"Stock market opens slightly higher Wednesday, with Dow lagging peer benchmarks<blockquote>周三股市小幅高开，道琼斯指数落后于同行基准</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1195655593","media":"Tiger Newspress","summary":"The S&P 500 rebounded slightly Wednesday after the stock average closed Tuesday at the lowest level since Aug. 20, the latest in a string of negative trading sessions this September.The major index traded ticked up 0.2%. The Dow Jones Industrial Average traded near the flatline. The Nasdaq Composite inched 0.2% higher.Some bullish economic news released before the bell Wednesday helped sooth investor sentiment. The NY Fed's Empire Index, a measure of manufacturing in the region came in at 34.3 f","content":"<p>The S&amp;P 500 rebounded slightly Wednesday after the stock average closed Tuesday at the lowest level since Aug. 20, the latest in a string of negative trading sessions this September.</p><p><blockquote>标普500周三小幅反弹，此前该股平均指数周二收于8月20日以来的最低水平，这是今年9月一系列负面交易中的最新一个。</blockquote></p><p> The major index traded ticked up 0.2%. The Dow Jones Industrial Average traded near the flatline. The Nasdaq Composite inched 0.2% higher.</p><p><blockquote>主要指数上涨0.2%。道琼斯工业平均指数在持平线附近交易。纳斯达克综合指数小幅上涨0.2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/14cfdae0b249c0e62fb230f3b2b5b05d\" tg-width=\"1061\" tg-height=\"419\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Some bullish economic news released before the bell Wednesday helped sooth investor sentiment. The NY Fed's Empire Index, a measure of manufacturing in the region came in at 34.3 for September, way ahead of the 18 consensus estimate from FactSet and an acceleration from August.</p><p><blockquote>周三盘前发布的一些看涨经济消息有助于安抚投资者情绪。衡量该地区制造业的纽约联储帝国指数9月份为34.3，远高于FactSet普遍预期的18，并且较8月份有所加速。</blockquote></p><p> Markets have been in a funk so far this month amid rising investor worries about the delta variant derailing the economic recovery, along with hand-wringing over the next action by the Federal Reserve.</p><p><blockquote>本月迄今为止，市场一直处于恐慌之中，投资者越来越担心德尔塔变异毒株会破坏经济复苏，同时对美联储的下一步行动感到绝望。</blockquote></p><p> Tuesday marked the fifth straight day of losses for the Nasdaq. The Dow, S&amp;P 500 and the small-cap Russell 2000 index have been in the red for six of the last seven days.</p><p><blockquote>周二是纳斯达克连续第五天下跌。道琼斯指数、标普500指数和小盘股Russell 2000指数在过去七天中有六天出现亏损。</blockquote></p><p> \"Despite concerns about the recent downshift in economic and business cycle momentum, we remain confident that strong growth lies ahead and activity is bound to re-accelerate,\" wrote JPMorgan strategist Dubravko Lakos-Bujas, in a note Wednesday. \"We remain positive on the equity outlook, and expect S&amp;P 500 to reach 4,700 by end of this year and surpass 5,000 next year on better than expected earnings.\"</p><p><blockquote>摩根大通策略师杜布拉夫科·拉科斯-布哈斯(Dubravko Lakos-Bujas)周三在一份报告中写道：“尽管对近期经济和商业周期势头放缓感到担忧，但我们仍然相信未来将出现强劲增长，经济活动必将重新加速。”“我们对股市前景仍然持乐观态度，预计标普500到今年年底将达到4,700家，明年将超过5,000家，盈利好于预期。”</blockquote></p><p> Microsoft shares gained more than 1% in premarket trading after announcing a dividend increase and a sizable $60 billion share repurchase program.</p><p><blockquote>在宣布增加股息和600亿美元的大规模股票回购计划后，微软股价在盘前交易中上涨超过1%。</blockquote></p><p> Energy stocks, which have been popular bets among investors banking on a big economic recovery, gained&nbsp;as WTI crude topped $71. Exxon added about 1%.</p><p><blockquote>随着WTI原油突破71美元，能源股一直是寄希望于经济大幅复苏的投资者的热门押注。埃克森美孚上涨约1%。</blockquote></p><p> Apple shares rebounded slightly&nbsp;after the shares fell Tuesday after the&nbsp;unveiling of a new iPhone and other products.</p><p><blockquote>苹果股价在周二推出新款iPhone和其他产品后下跌后小幅反弹。</blockquote></p><p> Casino stocks like Las Vegas Sands and Wynn Resorts traded in the red again. Those names took a big hit Tuesday as the government of Macau looks to increase regulatory scrutiny over casinos and Chinese health authorities reported a Covid-19 outbreak.</p><p><blockquote>拉斯维加斯金沙集团和永利度假村等赌场股再次出现亏损。周二，随着澳门政府希望加强对赌场的监管审查以及中国卫生当局报告爆发Covid-19疫情，这些名字受到了沉重打击。</blockquote></p><p> In regular trading Tuesday, the Dow fell 292.06 points, or 0.8%, to 34,577.57, retreating after it snapped a five-day losing streak on Monday. The S&amp;P 500 lost 0.6% to finish at 4,443.05 and the Nasdaq Composite slipped 0.5% to 15,037.76.</p><p><blockquote>周二常规交易中，道琼斯指数下跌292.06点，跌幅0.8%，至34,577.57点，继周一结束五连跌后回落。标普500下跌0.6%，收于4,443.05点；纳斯达克综合指数下跌0.5%，收于15,037.76点。</blockquote></p><p> September hashistorically been a down monthfor the markets, which have seen an average decline of 0.56% in the month since 1945, according to CFRA. And after eight months of straight gains, strategists say a major pullback could be imminent.</p><p><blockquote>CFRA的数据显示，9月份历来是市场下跌的月份，自1945年以来，该月平均下跌0.56%。在连续八个月上涨后，策略师表示，大幅回调可能即将到来。</blockquote></p><p> For September, the Dow is off by more than 2% and the S&amp;P 500 is off 1.8%. The S&amp;P 500 is on track to see its worth monthly performance since October 2020.</p><p><blockquote>9月份，道琼斯指数下跌超过2%，标普500下跌1.8%。自2020年10月以来，该标普500有望实现月度表现。</blockquote></p><p> The S&amp;P 500 has continued to move higher throughout the year, dipping below the 50-day moving average only once, according to Fundstrat. Mike Wilson, chief investment officer at Morgan Stanley, told CNBC’s “Fast Money” that could be just the beginning.</p><p><blockquote>根据Fundstrat的数据，标普500全年持续走高，仅一次跌破50日移动均线。摩根士丹利首席投资官迈克·威尔逊(Mike Wilson)告诉CNBC的《快钱》节目，这可能只是一个开始。</blockquote></p><p> “The midcycle transition always ends with a correction in the index,” he said of the S&amp;P 500. “Maybe it’ll be this week, maybe a month from now. I don’t think we’ll get done with this year, however, with that 50-day moving average holding up throughout the year because that’s the pattern we typically see in this part of the recovery phase.”</p><p><blockquote>“周期中期的转变总是以指数的调整而结束，”他在谈到标普500时表示。“也许是本周，也许是一个月后。不过，我认为我们今年不会结束，因为50天移动平均线全年都保持不变，因为这是我们通常看到的模式在恢复阶段的这一部分。”</blockquote></p><p> On Tuesday the Labor Department released data before the bell&nbsp;showing a smaller-than-expected rise in U.S. inflation&nbsp;for the month of August. Consumer prices rose 5.3% from a year ago and 0.3% from July. Stripping out food and energy, the consumer price index was up just 0.1% for the month.</p><p><blockquote>周二，美国劳工部在盘前公布的数据显示，美国8月份通胀增幅低于预期。居民消费价格同比上涨5.3%，环比上涨0.3%。剔除食品和能源后，本月消费者价格指数仅上涨0.1%。</blockquote></p><p> Initially, markets rallied but turned back down after the market open as uncertainty about the timing of the Federal Reserve’s tapering of asset purchases settled in.</p><p><blockquote>最初，市场上涨，但由于美联储缩减资产购买时间的不确定性，市场在开盘后回落。</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>Stock market opens slightly higher Wednesday, with Dow lagging peer benchmarks<blockquote>周三股市小幅高开，道琼斯指数落后于同行基准</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\">\nStock market opens slightly higher Wednesday, with Dow lagging peer benchmarks<blockquote>周三股市小幅高开，道琼斯指数落后于同行基准</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\">2021-09-15 21:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 rebounded slightly Wednesday after the stock average closed Tuesday at the lowest level since Aug. 20, the latest in a string of negative trading sessions this September.</p><p><blockquote>标普500周三小幅反弹，此前该股平均指数周二收于8月20日以来的最低水平，这是今年9月一系列负面交易中的最新一个。</blockquote></p><p> The major index traded ticked up 0.2%. The Dow Jones Industrial Average traded near the flatline. The Nasdaq Composite inched 0.2% higher.</p><p><blockquote>主要指数上涨0.2%。道琼斯工业平均指数在持平线附近交易。纳斯达克综合指数小幅上涨0.2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/14cfdae0b249c0e62fb230f3b2b5b05d\" tg-width=\"1061\" tg-height=\"419\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Some bullish economic news released before the bell Wednesday helped sooth investor sentiment. The NY Fed's Empire Index, a measure of manufacturing in the region came in at 34.3 for September, way ahead of the 18 consensus estimate from FactSet and an acceleration from August.</p><p><blockquote>周三盘前发布的一些看涨经济消息有助于安抚投资者情绪。衡量该地区制造业的纽约联储帝国指数9月份为34.3，远高于FactSet普遍预期的18，并且较8月份有所加速。</blockquote></p><p> Markets have been in a funk so far this month amid rising investor worries about the delta variant derailing the economic recovery, along with hand-wringing over the next action by the Federal Reserve.</p><p><blockquote>本月迄今为止，市场一直处于恐慌之中，投资者越来越担心德尔塔变异毒株会破坏经济复苏，同时对美联储的下一步行动感到绝望。</blockquote></p><p> Tuesday marked the fifth straight day of losses for the Nasdaq. The Dow, S&amp;P 500 and the small-cap Russell 2000 index have been in the red for six of the last seven days.</p><p><blockquote>周二是纳斯达克连续第五天下跌。道琼斯指数、标普500指数和小盘股Russell 2000指数在过去七天中有六天出现亏损。</blockquote></p><p> \"Despite concerns about the recent downshift in economic and business cycle momentum, we remain confident that strong growth lies ahead and activity is bound to re-accelerate,\" wrote JPMorgan strategist Dubravko Lakos-Bujas, in a note Wednesday. \"We remain positive on the equity outlook, and expect S&amp;P 500 to reach 4,700 by end of this year and surpass 5,000 next year on better than expected earnings.\"</p><p><blockquote>摩根大通策略师杜布拉夫科·拉科斯-布哈斯(Dubravko Lakos-Bujas)周三在一份报告中写道：“尽管对近期经济和商业周期势头放缓感到担忧，但我们仍然相信未来将出现强劲增长，经济活动必将重新加速。”“我们对股市前景仍然持乐观态度，预计标普500到今年年底将达到4,700家，明年将超过5,000家，盈利好于预期。”</blockquote></p><p> Microsoft shares gained more than 1% in premarket trading after announcing a dividend increase and a sizable $60 billion share repurchase program.</p><p><blockquote>在宣布增加股息和600亿美元的大规模股票回购计划后，微软股价在盘前交易中上涨超过1%。</blockquote></p><p> Energy stocks, which have been popular bets among investors banking on a big economic recovery, gained&nbsp;as WTI crude topped $71. Exxon added about 1%.</p><p><blockquote>随着WTI原油突破71美元，能源股一直是寄希望于经济大幅复苏的投资者的热门押注。埃克森美孚上涨约1%。</blockquote></p><p> Apple shares rebounded slightly&nbsp;after the shares fell Tuesday after the&nbsp;unveiling of a new iPhone and other products.</p><p><blockquote>苹果股价在周二推出新款iPhone和其他产品后下跌后小幅反弹。</blockquote></p><p> Casino stocks like Las Vegas Sands and Wynn Resorts traded in the red again. Those names took a big hit Tuesday as the government of Macau looks to increase regulatory scrutiny over casinos and Chinese health authorities reported a Covid-19 outbreak.</p><p><blockquote>拉斯维加斯金沙集团和永利度假村等赌场股再次出现亏损。周二，随着澳门政府希望加强对赌场的监管审查以及中国卫生当局报告爆发Covid-19疫情，这些名字受到了沉重打击。</blockquote></p><p> In regular trading Tuesday, the Dow fell 292.06 points, or 0.8%, to 34,577.57, retreating after it snapped a five-day losing streak on Monday. The S&amp;P 500 lost 0.6% to finish at 4,443.05 and the Nasdaq Composite slipped 0.5% to 15,037.76.</p><p><blockquote>周二常规交易中，道琼斯指数下跌292.06点，跌幅0.8%，至34,577.57点，继周一结束五连跌后回落。标普500下跌0.6%，收于4,443.05点；纳斯达克综合指数下跌0.5%，收于15,037.76点。</blockquote></p><p> September hashistorically been a down monthfor the markets, which have seen an average decline of 0.56% in the month since 1945, according to CFRA. And after eight months of straight gains, strategists say a major pullback could be imminent.</p><p><blockquote>CFRA的数据显示，9月份历来是市场下跌的月份，自1945年以来，该月平均下跌0.56%。在连续八个月上涨后，策略师表示，大幅回调可能即将到来。</blockquote></p><p> For September, the Dow is off by more than 2% and the S&amp;P 500 is off 1.8%. The S&amp;P 500 is on track to see its worth monthly performance since October 2020.</p><p><blockquote>9月份，道琼斯指数下跌超过2%，标普500下跌1.8%。自2020年10月以来，该标普500有望实现月度表现。</blockquote></p><p> The S&amp;P 500 has continued to move higher throughout the year, dipping below the 50-day moving average only once, according to Fundstrat. Mike Wilson, chief investment officer at Morgan Stanley, told CNBC’s “Fast Money” that could be just the beginning.</p><p><blockquote>根据Fundstrat的数据，标普500全年持续走高，仅一次跌破50日移动均线。摩根士丹利首席投资官迈克·威尔逊(Mike Wilson)告诉CNBC的《快钱》节目，这可能只是一个开始。</blockquote></p><p> “The midcycle transition always ends with a correction in the index,” he said of the S&amp;P 500. “Maybe it’ll be this week, maybe a month from now. I don’t think we’ll get done with this year, however, with that 50-day moving average holding up throughout the year because that’s the pattern we typically see in this part of the recovery phase.”</p><p><blockquote>“周期中期的转变总是以指数的调整而结束，”他在谈到标普500时表示。“也许是本周，也许是一个月后。不过，我认为我们今年不会结束，因为50天移动平均线全年都保持不变，因为这是我们通常看到的模式在恢复阶段的这一部分。”</blockquote></p><p> On Tuesday the Labor Department released data before the bell&nbsp;showing a smaller-than-expected rise in U.S. inflation&nbsp;for the month of August. Consumer prices rose 5.3% from a year ago and 0.3% from July. Stripping out food and energy, the consumer price index was up just 0.1% for the month.</p><p><blockquote>周二，美国劳工部在盘前公布的数据显示，美国8月份通胀增幅低于预期。居民消费价格同比上涨5.3%，环比上涨0.3%。剔除食品和能源后，本月消费者价格指数仅上涨0.1%。</blockquote></p><p> Initially, markets rallied but turned back down after the market open as uncertainty about the timing of the Federal Reserve’s tapering of asset purchases settled in.</p><p><blockquote>最初，市场上涨，但由于美联储缩减资产购买时间的不确定性，市场在开盘后回落。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195655593","content_text":"The S&P 500 rebounded slightly Wednesday after the stock average closed Tuesday at the lowest level since Aug. 20, the latest in a string of negative trading sessions this September.\nThe major index traded ticked up 0.2%. The Dow Jones Industrial Average traded near the flatline. The Nasdaq Composite inched 0.2% higher.\n\nSome bullish economic news released before the bell Wednesday helped sooth investor sentiment. The NY Fed's Empire Index, a measure of manufacturing in the region came in at 34.3 for September, way ahead of the 18 consensus estimate from FactSet and an acceleration from August.\nMarkets have been in a funk so far this month amid rising investor worries about the delta variant derailing the economic recovery, along with hand-wringing over the next action by the Federal Reserve.\nTuesday marked the fifth straight day of losses for the Nasdaq. The Dow, S&P 500 and the small-cap Russell 2000 index have been in the red for six of the last seven days.\n\"Despite concerns about the recent downshift in economic and business cycle momentum, we remain confident that strong growth lies ahead and activity is bound to re-accelerate,\" wrote JPMorgan strategist Dubravko Lakos-Bujas, in a note Wednesday. \"We remain positive on the equity outlook, and expect S&P 500 to reach 4,700 by end of this year and surpass 5,000 next year on better than expected earnings.\"\nMicrosoft shares gained more than 1% in premarket trading after announcing a dividend increase and a sizable $60 billion share repurchase program.\nEnergy stocks, which have been popular bets among investors banking on a big economic recovery, gained as WTI crude topped $71. Exxon added about 1%.\nApple shares rebounded slightly after the shares fell Tuesday after the unveiling of a new iPhone and other products.\nCasino stocks like Las Vegas Sands and Wynn Resorts traded in the red again. Those names took a big hit Tuesday as the government of Macau looks to increase regulatory scrutiny over casinos and Chinese health authorities reported a Covid-19 outbreak.\nIn regular trading Tuesday, the Dow fell 292.06 points, or 0.8%, to 34,577.57, retreating after it snapped a five-day losing streak on Monday. The S&P 500 lost 0.6% to finish at 4,443.05 and the Nasdaq Composite slipped 0.5% to 15,037.76.\nSeptember hashistorically been a down monthfor the markets, which have seen an average decline of 0.56% in the month since 1945, according to CFRA. And after eight months of straight gains, strategists say a major pullback could be imminent.\nFor September, the Dow is off by more than 2% and the S&P 500 is off 1.8%. The S&P 500 is on track to see its worth monthly performance since October 2020.\nThe S&P 500 has continued to move higher throughout the year, dipping below the 50-day moving average only once, according to Fundstrat. Mike Wilson, chief investment officer at Morgan Stanley, told CNBC’s “Fast Money” that could be just the beginning.\n“The midcycle transition always ends with a correction in the index,” he said of the S&P 500. “Maybe it’ll be this week, maybe a month from now. I don’t think we’ll get done with this year, however, with that 50-day moving average holding up throughout the year because that’s the pattern we typically see in this part of the recovery phase.”\nOn Tuesday the Labor Department released data before the bell showing a smaller-than-expected rise in U.S. inflation for the month of August. Consumer prices rose 5.3% from a year ago and 0.3% from July. Stripping out food and energy, the consumer price index was up just 0.1% for the month.\nInitially, markets rallied but turned back down after the market open as uncertainty about the timing of the Federal Reserve’s tapering of asset purchases settled in.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881261773,"gmtCreate":1631345931092,"gmtModify":1631891507863,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/881261773","repostId":"2166372458","repostType":4,"isVote":1,"tweetType":1,"viewCount":2297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881261225,"gmtCreate":1631345912967,"gmtModify":1631891507867,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"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/881261225","repostId":"1147045390","repostType":4,"repost":{"id":"1147045390","kind":"news","pubTimestamp":1631321547,"share":"https://www.laohunote.com/m/news/1147045390?lang=zh_CN&edition=full","pubTime":"2021-09-11 08:52","market":"us","language":"en","title":"Why Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147045390","media":"Barrons","summary":"Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple  to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30%","content":"<p>Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.</p><p><blockquote>周五的裁决要求苹果允许开发者为通过苹果应用商店下载的应用程序提供替代支付方式，这给其收入和利润带来了真实但有限的风险。</blockquote></p><p> In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.</p><p><blockquote>在堡垒之夜发行商 Epic Games 提起的一起案件中，美国地区法官 Yvonne Gonzalez Rogers 发布了一项永久禁令，要求苹果（股票代码：AAPL）允许开发者选择在其应用程序中包含替代支付方式的链接。苹果自己的支付系统从大型开发商那里抽取 30% 的佣金。</blockquote></p><p> Data from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.</p><p><blockquote>应用追踪机构 SensorTower 的数据显示，2020 年，苹果从 App Store 获得的总收入为 723 亿美元，费用估计为 217 亿美元，约占苹果总收入的 7%。其中包括美国 210 亿美元的支出，产生约 63 亿美元的费用，约占年化收入的 2%。</blockquote></p><p> SensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.</p><p><blockquote>SensorTower 估计，2020 年 App Store 的手机游戏支出为 476 亿美元，产生的费用为 143 亿美元，略低于苹果总收入的 5%。</blockquote></p><p> Gene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.</p><p><blockquote>风险投资公司 Loup Capital 的董事总经理、长期跟踪苹果的前卖方分析师吉恩-蒙斯特（Gene Munster）估计，App Store 约占公司利润的 14%。但他认为周五的裁决风险有限。</blockquote></p><p> Munster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.</p><p><blockquote>明斯特认为大多数应用程序开发者将留在苹果系统内。他认为总收入 “最多 ”会受到 2% 的阻力，利润可能会受到 4% 的影响。</blockquote></p><p> “After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”</p><p><blockquote>“他说：”在这些变化的第一年之后，app store 的增长率将恢复正常。“底线是，这最多只是一年的逆风，并不会改变苹果未来 5 年的发展方向。”</blockquote></p><p> Evercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.</p><p><blockquote>Evercore ISI 分析师 Amit Daryanani 在一份研究报告中表示，这一裁决对苹果来说是一个挫折，但最终的影响可能是可控的，因为苹果有其他方式从商店创收，包括其不断增长的店内广告业务。他还指出，苹果实际上在案件中的一个更大问题上取得了胜利： 法官驳回了 Epic 关于 App Store 非法垄断的说法。Daryanani 估计苹果每股收益面临的风险为 2% 至 4%。</blockquote></p><p> Wedbush analyst Dan Ives told&nbsp;<i>Barron’s</i>&nbsp;he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.</p><p><blockquote>韦德布什分析师丹·艾夫斯告诉<i>巴伦</i>他认为最坏的情况是收入受到 3% 到 4% 的影响，并将这种风险描述为 “四舍五入误差”。虽然艾夫斯表示，华尔街原本预计苹果会全面获胜，但这一混合决定消除了该股的悬而未决的问题，投资者可能会放心地搁置这个问题。</blockquote></p><p> The ruling is more a positive for companies like&nbsp;Spotify Technology&nbsp;and&nbsp;Match Group&nbsp;than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97&nbsp;on&nbsp;Friday, while Spotify and March gained 0.7% and&nbsp;4.2%, respectively.</p><p><blockquote>他说，这一裁决对 Spotify Technology 和 Match Group 等公司来说是积极的，而不是对苹果的负面影响。苹果股价周五下跌 3.3%，至 148.97 美元，而 Spotify 和 March 分别上涨 0.7% 和 4.2%。</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>Why Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-11 08:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.</p><p><blockquote>周五的裁决要求苹果允许开发者为通过苹果应用商店下载的应用程序提供替代支付方式，这给其收入和利润带来了真实但有限的风险。</blockquote></p><p> In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.</p><p><blockquote>在堡垒之夜发行商 Epic Games 提起的一起案件中，美国地区法官 Yvonne Gonzalez Rogers 发布了一项永久禁令，要求苹果（股票代码：AAPL）允许开发者选择在其应用程序中包含替代支付方式的链接。苹果自己的支付系统从大型开发商那里抽取 30% 的佣金。</blockquote></p><p> Data from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.</p><p><blockquote>应用追踪机构 SensorTower 的数据显示，2020 年，苹果从 App Store 获得的总收入为 723 亿美元，费用估计为 217 亿美元，约占苹果总收入的 7%。其中包括美国 210 亿美元的支出，产生约 63 亿美元的费用，约占年化收入的 2%。</blockquote></p><p> SensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.</p><p><blockquote>SensorTower 估计，2020 年 App Store 的手机游戏支出为 476 亿美元，产生的费用为 143 亿美元，略低于苹果总收入的 5%。</blockquote></p><p> Gene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.</p><p><blockquote>风险投资公司 Loup Capital 的董事总经理、长期跟踪苹果的前卖方分析师吉恩-蒙斯特（Gene Munster）估计，App Store 约占公司利润的 14%。但他认为周五的裁决风险有限。</blockquote></p><p> Munster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.</p><p><blockquote>明斯特认为大多数应用程序开发者将留在苹果系统内。他认为总收入 “最多 ”会受到 2% 的阻力，利润可能会受到 4% 的影响。</blockquote></p><p> “After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”</p><p><blockquote>“他说：”在这些变化的第一年之后，app store 的增长率将恢复正常。“底线是，这最多只是一年的逆风，并不会改变苹果未来 5 年的发展方向。”</blockquote></p><p> Evercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.</p><p><blockquote>Evercore ISI 分析师 Amit Daryanani 在一份研究报告中表示，这一裁决对苹果来说是一个挫折，但最终的影响可能是可控的，因为苹果有其他方式从商店创收，包括其不断增长的店内广告业务。他还指出，苹果实际上在案件中的一个更大问题上取得了胜利： 法官驳回了 Epic 关于 App Store 非法垄断的说法。Daryanani 估计苹果每股收益面临的风险为 2% 至 4%。</blockquote></p><p> Wedbush analyst Dan Ives told&nbsp;<i>Barron’s</i>&nbsp;he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.</p><p><blockquote>韦德布什分析师丹·艾夫斯告诉<i>巴伦</i>他认为最坏的情况是收入受到 3% 到 4% 的影响，并将这种风险描述为 “四舍五入误差”。虽然艾夫斯表示，华尔街原本预计苹果会全面获胜，但这一混合决定消除了该股的悬而未决的问题，投资者可能会放心地搁置这个问题。</blockquote></p><p> The ruling is more a positive for companies like&nbsp;Spotify Technology&nbsp;and&nbsp;Match Group&nbsp;than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97&nbsp;on&nbsp;Friday, while Spotify and March gained 0.7% and&nbsp;4.2%, respectively.</p><p><blockquote>他说，这一裁决对 Spotify Technology 和 Match Group 等公司来说是积极的，而不是对苹果的负面影响。苹果股价周五下跌 3.3%，至 148.97 美元，而 Spotify 和 March 分别上涨 0.7% 和 4.2%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/apple-app-store-epic-51631304007?mod=hp_LEAD_1_B_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-app-store-epic-51631304007?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147045390","content_text":"Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.\nIn a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.\nData from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.\nSensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.\nGene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.\nMunster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.\n“After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”\nEvercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.\nWedbush analyst Dan Ives told Barron’s he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.\nThe ruling is more a positive for companies like Spotify Technology and Match Group than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97 on Friday, while Spotify and March gained 0.7% and 4.2%, respectively.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2619,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883742089,"gmtCreate":1631277135241,"gmtModify":1631891507868,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/883742089","repostId":"1197281775","repostType":4,"isVote":1,"tweetType":1,"viewCount":3772,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817857804,"gmtCreate":1630934973208,"gmtModify":1631891507872,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/817857804","repostId":"1121396906","repostType":4,"isVote":1,"tweetType":1,"viewCount":2322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814253448,"gmtCreate":1630830272884,"gmtModify":1631891507879,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814253448","repostId":"1157895022","repostType":4,"repost":{"id":"1157895022","kind":"news","pubTimestamp":1630810619,"share":"https://www.laohunote.com/m/news/1157895022?lang=zh_CN&edition=full","pubTime":"2021-09-05 10:56","market":"us","language":"en","title":"Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个量化系统战胜市场，该系统非常看好创纪录高点的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157895022","media":"MarketWatch","summary":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do ","content":"<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯-霍华德（Vance Howard）的 HCM 战术增长基金（Tactical Growwth Fund）会让你在谨慎的情况下进出股市。到目前为止，他的计算机科学家团队的策略已经取得了成效。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市上收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>这是每个人的梦想，对吧？投资者万斯-霍华德认为他找到了答案。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>佐治亚州罗斯威尔的霍华德资本管理公司的霍华德和他的一小群计算机程序员。，有一个量化系统，发布巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的 HCM 战术增长基金 HCMGX,+0.35% 在过去五年中以年化计算比其罗素 1000 基准指数和大型混合基金类别高出 8.5-10.4 个百分点。这不是一个小壮举，不仅仅是因为它必须克服2.22%的费用。战胜市场根本不容易。他的 HCM 股息板块 PlusHCMQX,-0.05%) 和 HCM 收入 PlusHCMLX,+0.30% 基金表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详细介绍。（其中：潜在的长期表现不佳和定期税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化者从不分享他们专有系统的所有细节，但霍华德分享了很多细节，你会看到的。这位德克萨斯州牧场主有很多基于 “马感 ”的好建议--考虑到他对市场有着极具感染力的热情，以及他三十年的职业牧场主经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12 只交易所交易基金 (ETF) 和 4 只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化注定了我们会失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以在可能很长一段时间没有食物之前储存卡路里。但在市场上，出于恐惧和贪婪的情绪行事总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们也相信与人群在一起会带来安全。如果你是稀树草原上的斑马，那么如果你单独行动，就更有可能被捕食者叼走。这里的问题是成为人群的一部分——以及人群心理——把我们愚蠢到纯粹的情感层面。这就是为什么人群中的人们会做他们自己永远不会做的可怕事情。你有多聪明并不重要。当你加入人群时，你会失去很多智商点。基本情绪占据主导地位。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做好，你必须抵消这些趋势。“霍华德说：”个人投资者和基金经理犯的最大错误之一就是情绪化。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：建立一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>要驱除情绪，要有一个系统。“霍华德说：”不要事后猜测。“这让你不会让大流行病或阿富汗把你吓出市场”。他评级了他的系统HCM-BuyLine。它基本上是一个动量和趋势跟踪系统——在市场上通常效果很好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔 500SPX（-0.03%）或道琼斯工业平均指数（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌 6.5%，他就再卖出 35%。他很少使用100%的现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“他说：”如果买盘是积极的，无论如何我们都会长期持有。“我们让数学来决定，就能把所有的情绪都排除在外”。</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多内容见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统也必须告诉你什么时候回来。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“他说：”这就是大多数人搞砸的地方。“他们退出了市场，却不知道什么时候才能重新进来”。当他的自定义指数连续六个交易日交易高于其移动平均线时，HCM-BuyLine 会发出买入信号，然后继续交易高于这六天的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个能准确预测评级市场顶部或底部的系统。相反，买入线让霍华德在 85% 的时间里远离下跌市场，在 85% 的好时机里则保持下跌。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“他说：”如果我们能坚持不懈地做到这一点，我们就能获得更高的回报，生活压力也会更小。“在糟糕的录音带中全神贯注并不好玩”。</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定会让他离开。他经常买入这些回调。快速回归是有意义的，因为底部的复苏往往会很快发生。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“霍华德说：”HCM-BuyLine 消除了整个过程中的所有情绪。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要与磁带对抗</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂-茨威格（Marty Zweig）经典著作《华尔街的胜利》（Winning on Wall Street）的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“霍华德同意道：”你必须站在市场的正确一边。“如果你试图在糟糕的市场中进行多头交易，那将是痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“他说：”有时候，不赔钱才是你想要的。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要因为市场创下新高--比如现在--就变得谨慎。你应该喜欢新高，因为这是市场力量可能会持续的迹象。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第4课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德并不使用衍生品、掉期或指数期权等深奥的工具。他甚至不交易外国股票或货币。这对个人投资者来说是令人耳目一新的，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“他说：”你不必交易疯狂的东西。“你可以交易普通的 ETF，击败所有人”。</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做多。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-BuyLine 非常积极。我们百分之百同意，”霍华德说。“市场正在扩大。这变得非常令人兴奋。我们认为市场不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有的现金都在观望。“如果科维德有任何缓解，我们可能会看到一场大反弹。我们最终可能会迎来一个伟大的秋季[赛季]。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德还使用动量指标来选择股票和 ETF。对于行业，他倾向于以下几种。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过 iShares US HealthcareIYH,-0.04% 和 ProShares Ultra Health CareRXL,+0.12% ETF 进行交易。他越来越看好生物技术，他通过 iShares Biotechnology ETFIBB 投资生物技术，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过 iShares US Consumer ServicesIYC 交易的非必需消费品， -0.30%， 以及通过 US Global JetsJETS 交易的航空公司， -1.17%.他还喜欢通过 Invesco QQQ TrustQQQ,+0.31%、iShares US TechnologyYYW,+0.50% 和 iShares SemiconductorSOXX,+0.75% 进行科技投资。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他通过 Vanguard Small-Cap Growth Index FundVBK,+0.07% 看好小盘股。以及通过 SPDR Bloomberg Barclays Convertible Securities CWB,+0.64% 和 iShares Convertible BondICVT,+0.37% 看好可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个股，他特别提到了科技股中的微软MSFT（-0.00%）和苹果APL（+0.42%），以及亚马逊.comAMZN（+0.43%）和特斯拉TSLA（+0.16%）。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>还可以考虑霍华德的两只 ETF： HCM Defender 100 IndexQQH,+0.62%，HCM Defender 500 IndexLGH,+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌 1%-3% 时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的 HCM 战术增长基金自 2015 年推出以来，曾连续两年表现不佳，表现在 1.5% 至 8.8% 之间。随后，该基金强势回归，实现了上述非常积极的五年业绩。投资他的系统可能需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，包括沃伦·巴菲特在内的每个经理都可能经历一段时间的表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“他说：”我们正处于胜算之中。“即使在赔率游戏中，你也可能有一两手烂牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年为140%。这意味着山姆大叔在好年景里得到了很大的削减。因此，如果您购买霍华德的基金，您可能需要在税收保护账户中购买。</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>Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个量化系统战胜市场，该系统非常看好创纪录高点的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBeat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个量化系统战胜市场，该系统非常看好创纪录高点的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-05 10:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯-霍华德（Vance Howard）的 HCM 战术增长基金（Tactical Growwth Fund）会让你在谨慎的情况下进出股市。到目前为止，他的计算机科学家团队的策略已经取得了成效。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市上收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>这是每个人的梦想，对吧？投资者万斯-霍华德认为他找到了答案。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>佐治亚州罗斯威尔的霍华德资本管理公司的霍华德和他的一小群计算机程序员。，有一个量化系统，发布巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的 HCM 战术增长基金 HCMGX,+0.35% 在过去五年中以年化计算比其罗素 1000 基准指数和大型混合基金类别高出 8.5-10.4 个百分点。这不是一个小壮举，不仅仅是因为它必须克服2.22%的费用。战胜市场根本不容易。他的 HCM 股息板块 PlusHCMQX,-0.05%) 和 HCM 收入 PlusHCMLX,+0.30% 基金表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详细介绍。（其中：潜在的长期表现不佳和定期税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化者从不分享他们专有系统的所有细节，但霍华德分享了很多细节，你会看到的。这位德克萨斯州牧场主有很多基于 “马感 ”的好建议--考虑到他对市场有着极具感染力的热情，以及他三十年的职业牧场主经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12 只交易所交易基金 (ETF) 和 4 只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化注定了我们会失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以在可能很长一段时间没有食物之前储存卡路里。但在市场上，出于恐惧和贪婪的情绪行事总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们也相信与人群在一起会带来安全。如果你是稀树草原上的斑马，那么如果你单独行动，就更有可能被捕食者叼走。这里的问题是成为人群的一部分——以及人群心理——把我们愚蠢到纯粹的情感层面。这就是为什么人群中的人们会做他们自己永远不会做的可怕事情。你有多聪明并不重要。当你加入人群时，你会失去很多智商点。基本情绪占据主导地位。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做好，你必须抵消这些趋势。“霍华德说：”个人投资者和基金经理犯的最大错误之一就是情绪化。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：建立一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>要驱除情绪，要有一个系统。“霍华德说：”不要事后猜测。“这让你不会让大流行病或阿富汗把你吓出市场”。他评级了他的系统HCM-BuyLine。它基本上是一个动量和趋势跟踪系统——在市场上通常效果很好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔 500SPX（-0.03%）或道琼斯工业平均指数（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌 6.5%，他就再卖出 35%。他很少使用100%的现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“他说：”如果买盘是积极的，无论如何我们都会长期持有。“我们让数学来决定，就能把所有的情绪都排除在外”。</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多内容见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统也必须告诉你什么时候回来。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“他说：”这就是大多数人搞砸的地方。“他们退出了市场，却不知道什么时候才能重新进来”。当他的自定义指数连续六个交易日交易高于其移动平均线时，HCM-BuyLine 会发出买入信号，然后继续交易高于这六天的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个能准确预测评级市场顶部或底部的系统。相反，买入线让霍华德在 85% 的时间里远离下跌市场，在 85% 的好时机里则保持下跌。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“他说：”如果我们能坚持不懈地做到这一点，我们就能获得更高的回报，生活压力也会更小。“在糟糕的录音带中全神贯注并不好玩”。</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定会让他离开。他经常买入这些回调。快速回归是有意义的，因为底部的复苏往往会很快发生。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“霍华德说：”HCM-BuyLine 消除了整个过程中的所有情绪。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要与磁带对抗</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂-茨威格（Marty Zweig）经典著作《华尔街的胜利》（Winning on Wall Street）的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“霍华德同意道：”你必须站在市场的正确一边。“如果你试图在糟糕的市场中进行多头交易，那将是痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“他说：”有时候，不赔钱才是你想要的。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要因为市场创下新高--比如现在--就变得谨慎。你应该喜欢新高，因为这是市场力量可能会持续的迹象。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第4课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德并不使用衍生品、掉期或指数期权等深奥的工具。他甚至不交易外国股票或货币。这对个人投资者来说是令人耳目一新的，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“他说：”你不必交易疯狂的东西。“你可以交易普通的 ETF，击败所有人”。</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做多。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-BuyLine 非常积极。我们百分之百同意，”霍华德说。“市场正在扩大。这变得非常令人兴奋。我们认为市场不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有的现金都在观望。“如果科维德有任何缓解，我们可能会看到一场大反弹。我们最终可能会迎来一个伟大的秋季[赛季]。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德还使用动量指标来选择股票和 ETF。对于行业，他倾向于以下几种。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过 iShares US HealthcareIYH,-0.04% 和 ProShares Ultra Health CareRXL,+0.12% ETF 进行交易。他越来越看好生物技术，他通过 iShares Biotechnology ETFIBB 投资生物技术，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过 iShares US Consumer ServicesIYC 交易的非必需消费品， -0.30%， 以及通过 US Global JetsJETS 交易的航空公司， -1.17%.他还喜欢通过 Invesco QQQ TrustQQQ,+0.31%、iShares US TechnologyYYW,+0.50% 和 iShares SemiconductorSOXX,+0.75% 进行科技投资。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他通过 Vanguard Small-Cap Growth Index FundVBK,+0.07% 看好小盘股。以及通过 SPDR Bloomberg Barclays Convertible Securities CWB,+0.64% 和 iShares Convertible BondICVT,+0.37% 看好可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个股，他特别提到了科技股中的微软MSFT（-0.00%）和苹果APL（+0.42%），以及亚马逊.comAMZN（+0.43%）和特斯拉TSLA（+0.16%）。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>还可以考虑霍华德的两只 ETF： HCM Defender 100 IndexQQH,+0.62%，HCM Defender 500 IndexLGH,+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌 1%-3% 时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的 HCM 战术增长基金自 2015 年推出以来，曾连续两年表现不佳，表现在 1.5% 至 8.8% 之间。随后，该基金强势回归，实现了上述非常积极的五年业绩。投资他的系统可能需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，包括沃伦·巴菲特在内的每个经理都可能经历一段时间的表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“他说：”我们正处于胜算之中。“即使在赔率游戏中，你也可能有一两手烂牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年为140%。这意味着山姆大叔在好年景里得到了很大的削减。因此，如果您购买霍华德的基金，您可能需要在税收保护账户中购买。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157895022","content_text":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.\n\nImagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.\nThat’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.\nHoward and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.\nHis HCM Tactical Growth Fund HCMGX,+0.35%beats its Russell 1000 benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.\nThere are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?\nSo-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.\nHere are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.\nLesson #1: Don’t be emotional\nIt’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.\nLikewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.\nTo do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”\nLesson #2: Have a system and stick to it\nTo exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.\nThe HCM-BuyLine basically works like this. First, rather than use the S&P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.\nWhen the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.\n“If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”\nRight now, it’s bullish. (More on this below.)\nYour system also has to tell you when to get back in.\n“That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.\nYou don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.\n“If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”\nHis system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.\n“The HCM-BuyLine takes all the emotion out of the process,” says Howard.\nLesson #3: Don’t fight the tape\nThis concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”\n“You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”\nIn other words, don’t try to be a hero.\n“Sometimes, not losing money is where you want to be,” he says.\nLikewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.\nLesson #4: Keep it simple\nAs you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.\n“You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”\nLesson #5: How to trade the current market\nFirst, be long.\n“The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”\nOne bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”\nHoward uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.\nHe likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.\nHe likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and iShares SemiconductorSOXX,+0.75%.\nHe likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.\nAs for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.\nAlso consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.\nHe prefers to add to holdings on 1%-3% dips.\nA few drawbacks\nHis HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.\nEvery manager, including Warren Buffett, can have a stretch of underperformance, says Howard.\n“We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”\nAnother challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2571,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815293029,"gmtCreate":1630678963161,"gmtModify":1631891507878,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/815293029","repostId":"2164877371","repostType":4,"isVote":1,"tweetType":1,"viewCount":2637,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812276716,"gmtCreate":1630592548535,"gmtModify":1631891507882,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812276716","repostId":"1131318558","repostType":4,"repost":{"id":"1131318558","kind":"news","pubTimestamp":1630591645,"share":"https://www.laohunote.com/m/news/1131318558?lang=zh_CN&edition=full","pubTime":"2021-09-02 22:07","market":"us","language":"en","title":"Bear Attack: Could Apple Stock Really Drop 40%?<blockquote>熊市攻击：苹果股票真的会下跌40%吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131318558","media":"Thestreet","summary":"One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?On the first day of September, one of the rare Wall Street bears on Apple stock  finally gave in and dropped his sell rating. The last remaining one still sees shares dropping to a price target of $90, representing risk of loss of around 40%.Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall ","content":"<p>One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?</p><p><blockquote>两名给予苹果股票卖出评级的华尔街分析师之一认输了。另一位人士仍然认为 AAPL 股价可能会下跌 40%。相当大的下行风险现实吗？</blockquote></p><p> On the first day of September, one of the rare Wall Street bears on Apple stock&nbsp;(<b>AAPL</b>)&nbsp;finally gave in and dropped his sell rating. The last remaining one still&nbsp;sees&nbsp;shares dropping to a price target of $90, representing risk of loss of around 40%.</p><p><blockquote>9月的第一天，华尔街罕见的空头之一苹果股票（<b>苹果</b>）最终屈服并降低了卖出评级。剩下的最后一只股票仍然预计股价将跌至 90 美元的目标价，损失风险约为 40%。</blockquote></p><p> Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall Street, be right about his downside call? The Apple Maven looks a bit closer at the argument.</p><p><blockquote>新街的皮埃尔-费拉古（Pierre Ferragu）是华尔街仅存的苹果熊，他对看涨期权的看法是否正确？这位苹果专家更仔细地研究了这个论点。</blockquote></p><p> <b>Why bearish on Apple?</b></p><p><blockquote><b>为什么看空苹果？</b></blockquote></p><p> The core of Pierre’s bearish argument&nbsp;seems to be the iPhone. The analyst has called the upcoming device launch a “12S cycle”, arguing that the best of Apple’s iPhone upgrade wave,the so-called 5G super cycle, has been left in the rearview mirror.</p><p><blockquote>皮埃尔看跌论点的核心似乎是 iPhone。这位分析师将即将到来的设备发布称为 “12S 周期”，认为苹果 iPhone 升级浪潮中最精彩的部分，即所谓的 5G 超级周期，已经被抛在了后视镜里。</blockquote></p><p> New Street subscribes to the view that the strong iPhone 12 cycle has pulled forward smartphone sales, leaving a gap in demand going forward. Interestingly, this is exactly the&nbsp;opposite opinion of bullish Wedbush analyst Dan Ives, who said the following during an interview with the Apple Maven:</p><p><blockquote>New Street同意这样的观点，即强劲的iPhone 12周期推动了智能手机销售，留下了未来的需求缺口。有趣的是，这与看涨的韦德布什分析师丹·艾夫斯（Dan Ives）的观点完全相反，他在接受苹果专家采访时说道：</blockquote></p><p>   “What the Street underestimates is how massive and elongated this super cycle is. […] 5G does not get fully embraced for the next two or three years, until the networks are built out. In China [where the 5G infrastructure is further ahead], the iPhone 12, especially the larger Pro versions, really sold extremely well.”  Still on the iPhone, Mr. Ferragu laid out his expectations for 2022 back in April (I am unaware of revisions since then). He believes that iPhone shipments will reach 190 million units, suggesting segment revenues of around $150 billion – a modest annual increase of 5% from COVID-19 levels.</p><p><blockquote>“华尔街低估的是这个超级周期有多么庞大和漫长。[...]在未来两三年内，5G 不会被完全普及，直到网络建成。在中国（5G 基础设施更加先进），iPhone 12，尤其是更大尺寸的专业版，确实卖得非常好。”Ferragu 先生仍然在 iPhone 上，早在 4 月份就列出了他对 2022 年的期望（我不知道从那时起有任何修订）。他认为 iPhone 出货量将达到 1.9 亿部，这意味着该部门的收入约为 1500 亿美元，比 COVID-19 水平每年小幅增长 5%。</blockquote></p><p> <b>Could AAPL sink 40%?</b></p><p><blockquote><b>苹果能下跌40%吗？</b></blockquote></p><p> Now, let’s put pen to paper. For Apple stock to be valued at $90 apiece, one of two things would need to happen: either financial performance would need to lag consensus expectations, or valuations would need to contract (or a combination of both).</p><p><blockquote>现在，让我们动笔。要使苹果股票的估值达到每股 90 美元，需要发生两件事之一：要么财务业绩需要落后于普遍预期，要么估值需要收缩（或两者兼而有之）。</blockquote></p><p> On results,Wall Street currently sees&nbsp;fiscal 2022 EPS landing at $5.63, roughly flat against a 2021 that has been impressive so far. For AAPL to drop 40% in price, therefore, next-year earnings would need to miss consensus substantially, by at least a couple of dollars. I find this highly unlikely.</p><p><blockquote>从业绩来看，华尔街目前预计 2022 财年每股收益将达到 5.63 美元，与迄今为止令人印象深刻的 2021 财年基本持平。因此，AAPL 要想降价 40%，明年的盈利需要大幅低于市场预期，至少低几美元。我觉得这不太可能。</blockquote></p><p> On valuations, AAPL currently trades at a fiscal 2021 earnings multiple of 27 times. Assuming consensus-matching results in the future, this multiple would need to drop to about 16 times for AAPL shares to sink to $90. The stock’s forward P/E has not been this low in years.</p><p><blockquote>根据估值，AAPL 目前的 2021 财年市盈率为 27 倍。假设未来的结果与共识一致，该倍数需要降至 16 倍左右，AAPL 股价才能跌至 90 美元。该股的远期市盈率多年来从未如此之低。</blockquote></p><p> <b>The Apple Maven’s take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> I find it very improbable, if not virtually impossible, for Apple to ever be valued at $90 per share again. It is much more reasonable, in my opinion, that New Street’s current price target on the stock is simply stale, following AAPL’s 25% rally in the past six months.</p><p><blockquote>我发现苹果的估值再次达到每股90美元是非常不可能的，如果不是几乎不可能的话。在我看来，在苹果公司过去六个月上涨了 25% 之后，新街目前对该股的目标价已经过时了，这更合理。</blockquote></p><p> Therefore, I would not be surprised to see Wall Street’s last AAPL bear eventually (soon?) give in on his downside convictions, at least in what pertains to his current price target.</p><p><blockquote>因此，如果华尔街最后一位看空苹果公司的人最终（很快？）屈服于他的下行信念，至少在他目前的目标价方面是这样，我不会感到惊讶。</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>Bear Attack: Could Apple Stock Really Drop 40%?<blockquote>熊市攻击：苹果股票真的会下跌40%吗？</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\">\nBear Attack: Could Apple Stock Really Drop 40%?<blockquote>熊市攻击：苹果股票真的会下跌40%吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-09-02 22:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?</p><p><blockquote>两名给予苹果股票卖出评级的华尔街分析师之一认输了。另一位人士仍然认为 AAPL 股价可能会下跌 40%。相当大的下行风险现实吗？</blockquote></p><p> On the first day of September, one of the rare Wall Street bears on Apple stock&nbsp;(<b>AAPL</b>)&nbsp;finally gave in and dropped his sell rating. The last remaining one still&nbsp;sees&nbsp;shares dropping to a price target of $90, representing risk of loss of around 40%.</p><p><blockquote>9月的第一天，华尔街罕见的空头之一苹果股票（<b>苹果</b>）最终屈服并降低了卖出评级。剩下的最后一只股票仍然预计股价将跌至 90 美元的目标价，损失风险约为 40%。</blockquote></p><p> Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall Street, be right about his downside call? The Apple Maven looks a bit closer at the argument.</p><p><blockquote>新街的皮埃尔-费拉古（Pierre Ferragu）是华尔街仅存的苹果熊，他对看涨期权的看法是否正确？这位苹果专家更仔细地研究了这个论点。</blockquote></p><p> <b>Why bearish on Apple?</b></p><p><blockquote><b>为什么看空苹果？</b></blockquote></p><p> The core of Pierre’s bearish argument&nbsp;seems to be the iPhone. The analyst has called the upcoming device launch a “12S cycle”, arguing that the best of Apple’s iPhone upgrade wave,the so-called 5G super cycle, has been left in the rearview mirror.</p><p><blockquote>皮埃尔看跌论点的核心似乎是 iPhone。这位分析师将即将到来的设备发布称为 “12S 周期”，认为苹果 iPhone 升级浪潮中最精彩的部分，即所谓的 5G 超级周期，已经被抛在了后视镜里。</blockquote></p><p> New Street subscribes to the view that the strong iPhone 12 cycle has pulled forward smartphone sales, leaving a gap in demand going forward. Interestingly, this is exactly the&nbsp;opposite opinion of bullish Wedbush analyst Dan Ives, who said the following during an interview with the Apple Maven:</p><p><blockquote>New Street同意这样的观点，即强劲的iPhone 12周期推动了智能手机销售，留下了未来的需求缺口。有趣的是，这与看涨的韦德布什分析师丹·艾夫斯（Dan Ives）的观点完全相反，他在接受苹果专家采访时说道：</blockquote></p><p>   “What the Street underestimates is how massive and elongated this super cycle is. […] 5G does not get fully embraced for the next two or three years, until the networks are built out. In China [where the 5G infrastructure is further ahead], the iPhone 12, especially the larger Pro versions, really sold extremely well.”  Still on the iPhone, Mr. Ferragu laid out his expectations for 2022 back in April (I am unaware of revisions since then). He believes that iPhone shipments will reach 190 million units, suggesting segment revenues of around $150 billion – a modest annual increase of 5% from COVID-19 levels.</p><p><blockquote>“华尔街低估的是这个超级周期有多么庞大和漫长。[...]在未来两三年内，5G 不会被完全普及，直到网络建成。在中国（5G 基础设施更加先进），iPhone 12，尤其是更大尺寸的专业版，确实卖得非常好。”Ferragu 先生仍然在 iPhone 上，早在 4 月份就列出了他对 2022 年的期望（我不知道从那时起有任何修订）。他认为 iPhone 出货量将达到 1.9 亿部，这意味着该部门的收入约为 1500 亿美元，比 COVID-19 水平每年小幅增长 5%。</blockquote></p><p> <b>Could AAPL sink 40%?</b></p><p><blockquote><b>苹果能下跌40%吗？</b></blockquote></p><p> Now, let’s put pen to paper. For Apple stock to be valued at $90 apiece, one of two things would need to happen: either financial performance would need to lag consensus expectations, or valuations would need to contract (or a combination of both).</p><p><blockquote>现在，让我们动笔。要使苹果股票的估值达到每股 90 美元，需要发生两件事之一：要么财务业绩需要落后于普遍预期，要么估值需要收缩（或两者兼而有之）。</blockquote></p><p> On results,Wall Street currently sees&nbsp;fiscal 2022 EPS landing at $5.63, roughly flat against a 2021 that has been impressive so far. For AAPL to drop 40% in price, therefore, next-year earnings would need to miss consensus substantially, by at least a couple of dollars. I find this highly unlikely.</p><p><blockquote>从业绩来看，华尔街目前预计 2022 财年每股收益将达到 5.63 美元，与迄今为止令人印象深刻的 2021 财年基本持平。因此，AAPL 要想降价 40%，明年的盈利需要大幅低于市场预期，至少低几美元。我觉得这不太可能。</blockquote></p><p> On valuations, AAPL currently trades at a fiscal 2021 earnings multiple of 27 times. Assuming consensus-matching results in the future, this multiple would need to drop to about 16 times for AAPL shares to sink to $90. The stock’s forward P/E has not been this low in years.</p><p><blockquote>根据估值，AAPL 目前的 2021 财年市盈率为 27 倍。假设未来的结果与共识一致，该倍数需要降至 16 倍左右，AAPL 股价才能跌至 90 美元。该股的远期市盈率多年来从未如此之低。</blockquote></p><p> <b>The Apple Maven’s take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> I find it very improbable, if not virtually impossible, for Apple to ever be valued at $90 per share again. It is much more reasonable, in my opinion, that New Street’s current price target on the stock is simply stale, following AAPL’s 25% rally in the past six months.</p><p><blockquote>我发现苹果的估值再次达到每股90美元是非常不可能的，如果不是几乎不可能的话。在我看来，在苹果公司过去六个月上涨了 25% 之后，新街目前对该股的目标价已经过时了，这更合理。</blockquote></p><p> Therefore, I would not be surprised to see Wall Street’s last AAPL bear eventually (soon?) give in on his downside convictions, at least in what pertains to his current price target.</p><p><blockquote>因此，如果华尔街最后一位看空苹果公司的人最终（很快？）屈服于他的下行信念，至少在他目前的目标价方面是这样，我不会感到惊讶。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/stock/bear-attack-could-apple-stock-really-drop-40\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/bear-attack-could-apple-stock-really-drop-40","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131318558","content_text":"One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?\nOn the first day of September, one of the rare Wall Street bears on Apple stock (AAPL) finally gave in and dropped his sell rating. The last remaining one still sees shares dropping to a price target of $90, representing risk of loss of around 40%.\nCould New Street’s Pierre Ferragu, the last remaining Apple bear on Wall Street, be right about his downside call? The Apple Maven looks a bit closer at the argument.\nWhy bearish on Apple?\nThe core of Pierre’s bearish argument seems to be the iPhone. The analyst has called the upcoming device launch a “12S cycle”, arguing that the best of Apple’s iPhone upgrade wave,the so-called 5G super cycle, has been left in the rearview mirror.\nNew Street subscribes to the view that the strong iPhone 12 cycle has pulled forward smartphone sales, leaving a gap in demand going forward. Interestingly, this is exactly the opposite opinion of bullish Wedbush analyst Dan Ives, who said the following during an interview with the Apple Maven:\n\n “What the Street underestimates is how massive and elongated this super cycle is. […] 5G does not get fully embraced for the next two or three years, until the networks are built out. In China [where the 5G infrastructure is further ahead], the iPhone 12, especially the larger Pro versions, really sold extremely well.”\n\nStill on the iPhone, Mr. Ferragu laid out his expectations for 2022 back in April (I am unaware of revisions since then). He believes that iPhone shipments will reach 190 million units, suggesting segment revenues of around $150 billion – a modest annual increase of 5% from COVID-19 levels.\nCould AAPL sink 40%?\nNow, let’s put pen to paper. For Apple stock to be valued at $90 apiece, one of two things would need to happen: either financial performance would need to lag consensus expectations, or valuations would need to contract (or a combination of both).\nOn results,Wall Street currently sees fiscal 2022 EPS landing at $5.63, roughly flat against a 2021 that has been impressive so far. For AAPL to drop 40% in price, therefore, next-year earnings would need to miss consensus substantially, by at least a couple of dollars. I find this highly unlikely.\nOn valuations, AAPL currently trades at a fiscal 2021 earnings multiple of 27 times. Assuming consensus-matching results in the future, this multiple would need to drop to about 16 times for AAPL shares to sink to $90. The stock’s forward P/E has not been this low in years.\nThe Apple Maven’s take\nI find it very improbable, if not virtually impossible, for Apple to ever be valued at $90 per share again. It is much more reasonable, in my opinion, that New Street’s current price target on the stock is simply stale, following AAPL’s 25% rally in the past six months.\nTherefore, I would not be surprised to see Wall Street’s last AAPL bear eventually (soon?) give in on his downside convictions, at least in what pertains to his current price target.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":647,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812276131,"gmtCreate":1630592519823,"gmtModify":1631891507885,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/812276131","repostId":"2164411840","repostType":4,"isVote":1,"tweetType":1,"viewCount":751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812685400,"gmtCreate":1630583496900,"gmtModify":1631891507888,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Omg&nbsp;","listText":"Omg&nbsp;","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812685400","repostId":"812867185","repostType":1,"repost":{"id":812867185,"gmtCreate":1630574774144,"gmtModify":1750507674941,"author":{"id":"3502767768442965","authorId":"3502767768442965","name":"话题虎","avatar":"https://static.tigerbbs.com/d418c2def5dc1d094b03270b450f71ce","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3502767768442965","idStr":"3502767768442965"},"themes":[],"title":"【故事会】17岁学生花30万玩“女仆桌游”，是轻娱乐or软色情？","htmlText":"栏目说明：小话不定期给大家分享有趣的故事，内容来源于网络，希望给您带来更好的阅读体验！ 转自公众号：财经连环话 这个世界越来越魔幻了 轱辘慧我看不懂…… 最近 西安一个即将踏上出国留学之旅的17岁学生 却在暑假疯狂消费 花光了用以验资的30万留学费用…… 其中仅一家“女仆桌游”就先后消费了一万七千元 最高一次消费了近6000块 并且在家长打印的银行卡消费记录里 消费支付时间都是晚上 有时甚至是晚上11点多 家长追问孩子是否有不雅行为 孩子也不肯回答 那孩子在“女仆桌游店”里究竟消费了什么呢 在随后华商报对店家的采访中 店家解释 桌游是一种健康益智游戏 “女仆”不过是助教而已 并且他们是“证照齐全明码标价” 只是除了“女仆陪玩”的价格外 用途不清的打赏女仆费用 私加女仆微信的费用如何体现健康益智 店家没多说 还表示加微信收费是“为了防止女孩们被骚扰，收费了就没人加了” 好家伙 逆向思维让他们玩明白了属于是 女仆店本身是个新鲜事物吗？ 并不是 在上世纪90年代 非色情化的女仆形象就在日本有过一阵爆发式的增长 《魔力女管家》《花右京女仆队》等女仆漫画在国内也十分知名 即使到现在 “女仆”也是日本漫画的一个重要元素 在“女仆文化”兴起的同时 各种女仆咖啡厅也如雨后春笋般涌现 日本雄厚的宅男群体成了他们最坚实的消费者 与之前刚刚传入国内的女仆店类似 女仆咖啡的服务基本上跟保洁阿姨没有本质区别 只不过穿着更具特色 最多衍生出给你的蛋包饭画个心的萌系（尴尬）服务 但这种小资产阶级情怀往往是最容易被腐蚀的角落 尤其是在情色文化发达的日本 正经女仆店逐渐成了末流 cosplay特色的风俗店姬逐渐取代了原本的“大正女仆” 原本典雅端庄的西洋女仆装 也衍生出这种护心毛天敌装束 在陪玩服务早已拥有成熟市场的国内 线下的女仆店也开始时兴 除了二次元文化 独特的桌游文化也成了女仆陪玩的重要组成部分 众","listText":"栏目说明：小话不定期给大家分享有趣的故事，内容来源于网络，希望给您带来更好的阅读体验！ 转自公众号：财经连环话 这个世界越来越魔幻了 轱辘慧我看不懂…… 最近 西安一个即将踏上出国留学之旅的17岁学生 却在暑假疯狂消费 花光了用以验资的30万留学费用…… 其中仅一家“女仆桌游”就先后消费了一万七千元 最高一次消费了近6000块 并且在家长打印的银行卡消费记录里 消费支付时间都是晚上 有时甚至是晚上11点多 家长追问孩子是否有不雅行为 孩子也不肯回答 那孩子在“女仆桌游店”里究竟消费了什么呢 在随后华商报对店家的采访中 店家解释 桌游是一种健康益智游戏 “女仆”不过是助教而已 并且他们是“证照齐全明码标价” 只是除了“女仆陪玩”的价格外 用途不清的打赏女仆费用 私加女仆微信的费用如何体现健康益智 店家没多说 还表示加微信收费是“为了防止女孩们被骚扰，收费了就没人加了” 好家伙 逆向思维让他们玩明白了属于是 女仆店本身是个新鲜事物吗？ 并不是 在上世纪90年代 非色情化的女仆形象就在日本有过一阵爆发式的增长 《魔力女管家》《花右京女仆队》等女仆漫画在国内也十分知名 即使到现在 “女仆”也是日本漫画的一个重要元素 在“女仆文化”兴起的同时 各种女仆咖啡厅也如雨后春笋般涌现 日本雄厚的宅男群体成了他们最坚实的消费者 与之前刚刚传入国内的女仆店类似 女仆咖啡的服务基本上跟保洁阿姨没有本质区别 只不过穿着更具特色 最多衍生出给你的蛋包饭画个心的萌系（尴尬）服务 但这种小资产阶级情怀往往是最容易被腐蚀的角落 尤其是在情色文化发达的日本 正经女仆店逐渐成了末流 cosplay特色的风俗店姬逐渐取代了原本的“大正女仆” 原本典雅端庄的西洋女仆装 也衍生出这种护心毛天敌装束 在陪玩服务早已拥有成熟市场的国内 线下的女仆店也开始时兴 除了二次元文化 独特的桌游文化也成了女仆陪玩的重要组成部分 众","text":"栏目说明：小话不定期给大家分享有趣的故事，内容来源于网络，希望给您带来更好的阅读体验！ 转自公众号：财经连环话 这个世界越来越魔幻了 轱辘慧我看不懂…… 最近 西安一个即将踏上出国留学之旅的17岁学生 却在暑假疯狂消费 花光了用以验资的30万留学费用…… 其中仅一家“女仆桌游”就先后消费了一万七千元 最高一次消费了近6000块 并且在家长打印的银行卡消费记录里 消费支付时间都是晚上 有时甚至是晚上11点多 家长追问孩子是否有不雅行为 孩子也不肯回答 那孩子在“女仆桌游店”里究竟消费了什么呢 在随后华商报对店家的采访中 店家解释 桌游是一种健康益智游戏 “女仆”不过是助教而已 并且他们是“证照齐全明码标价” 只是除了“女仆陪玩”的价格外 用途不清的打赏女仆费用 私加女仆微信的费用如何体现健康益智 店家没多说 还表示加微信收费是“为了防止女孩们被骚扰，收费了就没人加了” 好家伙 逆向思维让他们玩明白了属于是 女仆店本身是个新鲜事物吗？ 并不是 在上世纪90年代 非色情化的女仆形象就在日本有过一阵爆发式的增长 《魔力女管家》《花右京女仆队》等女仆漫画在国内也十分知名 即使到现在 “女仆”也是日本漫画的一个重要元素 在“女仆文化”兴起的同时 各种女仆咖啡厅也如雨后春笋般涌现 日本雄厚的宅男群体成了他们最坚实的消费者 与之前刚刚传入国内的女仆店类似 女仆咖啡的服务基本上跟保洁阿姨没有本质区别 只不过穿着更具特色 最多衍生出给你的蛋包饭画个心的萌系（尴尬）服务 但这种小资产阶级情怀往往是最容易被腐蚀的角落 尤其是在情色文化发达的日本 正经女仆店逐渐成了末流 cosplay特色的风俗店姬逐渐取代了原本的“大正女仆” 原本典雅端庄的西洋女仆装 也衍生出这种护心毛天敌装束 在陪玩服务早已拥有成熟市场的国内 线下的女仆店也开始时兴 除了二次元文化 独特的桌游文化也成了女仆陪玩的重要组成部分 众","images":[{"img":"https://static.tigerbbs.com/4ff8027b58094a50cb5d51048422f977","width":"-1","height":"-1"},{"img":"https://static.tigerbbs.com/477bc126cd32a979c0f908ace32f9031","width":"-1","height":"-1"},{"img":"https://static.tigerbbs.com/c8d3845beed1e2e3129dbf2d29fdba3a","width":"-1","height":"-1"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812867185","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":1,"comments":[],"imageCount":19,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":619,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834210899,"gmtCreate":1629805677711,"gmtModify":1631885193408,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Gogo","listText":"Gogo","text":"Gogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/834210899","repostId":"1194470972","repostType":4,"repost":{"id":"1194470972","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":1629804284,"share":"https://www.laohunote.com/m/news/1194470972?lang=zh_CN&edition=full","pubTime":"2021-08-24 19:24","market":"us","language":"en","title":"China's Pinduoduo misses quarterly revenue expectations<blockquote>中国拼多多未达季度收入预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194470972","media":"Tiger Newspress","summary":"Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.Total revenue was 23.05 billion yuan in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.Total revenues in the quarter were RMB23,046.2 million, an increase of 89% from RMB12,193.3 millio","content":"<p>Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.</p><p><blockquote>中国电子商务平台拼多多周二的季度收入未达华尔街预期，受到阿里巴巴-SW和京东等大型竞争对手的激烈竞争，以利用疫情推动的在线购物激增。</blockquote></p><p> Total revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.</p><p><blockquote>截至 6 月 30 日的第二季度总收入为 230.5 亿元人民币（35.6 亿美元）。根据路孚特的 IBES 数据，分析师平均预期营收为 264.4 亿元人民币。</blockquote></p><p> <a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">Q2 2021 Pinduoduo Inc Earnings Conference Call</a></p><p><blockquote><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">2021 年第二季度拼多多公司收益电话会议</a></blockquote></p><p> <b>Second Quarter 2021 Highlights</b></p><p><blockquote><b>2021 年第二季度亮点</b></blockquote></p><p> <ul>  <li><b>Total revenues</b>&nbsp;in the quarter were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% from&nbsp;RMB12,193.3 millionin the same quarter of 2020.</li>  <li><b>Average monthly active users</b>&nbsp;in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.</li>  <li><b>Active buyers</b>&nbsp;in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.</li>  <li><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP&nbsp;operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</li> </ul> Pinduoduo&nbsp;shares&nbsp;were back to $84.01, up 3.6%.</p><p><blockquote><ul><li><b>收入总额</b>本季度营业额为人民币230.462亿元（35.694亿美元），较2020年同季度的人民币121.933亿元增长89%。</li><li><b>平均月活跃用户</b>本季度为 7.385 亿美元，比 2020 年同季度的 5.688 亿美元增长 30%。</li><li><b>活跃买家</b>截至2021年6月30日止12个月期间为8.499亿美元，较截至2020年6月30日止12个月期间的6.832亿美元增长24%。</li><li><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</li><li><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</li></ul>拼多多股价回升至 84.01 美元，上涨 3.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef551e259866b07f824d1785781e3b7\" tg-width=\"892\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> “Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”</p><p><blockquote>“农业长期以来一直是拼多多企业使命和战略的核心，我们今天宣布的'百亿农业计划'是我们深化对农业现代化和乡村振兴支持的一种方式，”将负责监督该计划的拼多多董事长兼首席执行官陈磊说。“投资农业对每个人都有好处，因为农业是粮食安全和质量、公共健康和环境可持续性的纽带”。</blockquote></p><p> “We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”</p><p><blockquote>“我们在本季度继续保持强劲的执行力。2021 年第二季度，我们的总收入（不包括商品销售的贡献）比上年同期增长了 73%，”拼多多财务副总裁 Tony Ma 说。“农业仍然是我们的战略重点，我们致力于耐心和持续地投资农业。”</blockquote></p><p> <b>Second Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第二季度未经审计财务业绩</b></blockquote></p><p> <b>Total revenues</b>&nbsp;were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.</p><p><blockquote><b>收入总额</b>为人民币23,046.2百万元（3,569.4百万美元），较2020年同季度的人民币12,193.3百万元增长89%。该增加主要是由于在线营销服务收入增加所致。</blockquote></p><p> <ul>  <li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.</li>  <li><b>Revenues from transaction services</b>&nbsp;were&nbsp;RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.</li>  <li><b>Revenues from merchandise sales</b>&nbsp;were&nbsp;RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.</li> </ul> <b>Total costs of revenues</b>&nbsp;were&nbsp;RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.</p><p><blockquote><ul><li><b>来自在线营销服务及其他的收入</b>为人民币18,080.4百万元（2,800.3百万美元），较2020年同季度的人民币11,054.7百万元增长64%。</li><li><b>交易服务收入</b>为人民币30.076亿元（4.658亿美元），较2020年同季度的人民币11.386亿元增长164%。</li><li><b>商品销售收入</b>为人民币1,958.2百万元（3.033亿美元），较2020年同一季度的零增加人民币1,958.2百万元。</li></ul><b>收入总成本</b>为人民币78.979亿元（12.232亿美元），较2020年同一季度的人民币26.621亿元增长197%。该增加主要由于商品销售应占成本、支付处理费、云服务费以及交付和仓储费成本上升所致。</blockquote></p><p> <b>Total operating expenses</b>&nbsp;were&nbsp;RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.</p><p><blockquote><b>营运开支总额</b>为人民币13,150.9百万元（2,036.8百万美元），而2020年同季度为人民币111,170.8百万元。</blockquote></p><p></p><p> <ul>  <li><b>Sales and marketing expenses</b>&nbsp;were&nbsp;RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.</li>  <li><b>General and administrative expenses</b>&nbsp;were&nbsp;RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.</li>  <li><b>Research and development expenses</b>&nbsp;were&nbsp;RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li> </ul> <b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</p><p><blockquote><ul><li><b>销售及市场推广开支</b>为人民币10,387.9百万元（1,608.9百万美元），较二零二零年同季度的人民币9,113.6百万元增长14%，主要由于促销及优惠券开支增加所致。</li><li><b>一般及行政开支</b>为人民币4.342亿元（6720万美元），较2020年同季度的人民币3.948亿元增长10%。</li><li><b>研发开支</b>为人民币2,328.8百万元（3.607亿美元），较2020年同一季度的人民币1,662.4百万元增长40%。该增加主要由于员工人数增加及招聘更多经验丰富的研发人员以及研发相关云服务开支增加所致。</li></ul><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</blockquote></p><p> <b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</p><p><blockquote><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</blockquote></p><p> <b>Basic earnings per ADS</b>&nbsp;was&nbsp;RMB1.93(US$0.30) and&nbsp;<b>diluted earnings per ADS</b>&nbsp;was&nbsp;RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.<b>Non-GAAP diluted earnings per ADS</b>&nbsp;was&nbsp;RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.</p><p><blockquote><b>每股广告基本收益</b>为人民币1.93元（0.30美元）及<b>每股美国存托凭证摊薄收益</b>为人民币 1.69 元（0.27 美元），而 2020 年同季度每股美国存托凭证的基本和摊薄净亏损为人民币 0.75 元。<b>非 GAAP 稀释每股 ADS 收益</b>为人民币 2.85 元（0.44 美元），而 2020 年同季度非 GAAP 摊薄每股美国存托凭证净亏损为人民币 0.06 元。</blockquote></p><p> <b>Net cash flow provided by operating activities</b>&nbsp;was&nbsp;RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.</p><p><blockquote><b>经营活动提供的现金流量净额</b>营业额为人民币 7,371.2 百万元（1,141.7 百万美元），而 2020 年同季度为人民币 5,495.3 百万元，主要由于在线营销服务收入增加。</blockquote></p><p> <b>Cash, cash equivalents and short-term investments</b>were&nbsp;RMB&nbsp;92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.</p><p><blockquote><b>现金、现金等价物及短期投资</b>截至2021年6月30日为人民币922亿元（143亿美元），而截至2020年12月31日为人民币870亿元。</blockquote></p><p> <b>Recent Development</b></p><p><blockquote><b>近期发展</b></blockquote></p><p> As ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.</p><p><blockquote>截至2021年7月31日，2024年到期的0%可换股债券中的7.737亿美元已转换为新发行的美国存托凭证。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nChina's Pinduoduo misses quarterly revenue expectations<blockquote>中国拼多多未达季度收入预期</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\">2021-08-24 19:24</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.</p><p><blockquote>中国电子商务平台拼多多周二的季度收入未达华尔街预期，受到阿里巴巴-SW和京东等大型竞争对手的激烈竞争，以利用疫情推动的在线购物激增。</blockquote></p><p> Total revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.</p><p><blockquote>截至 6 月 30 日的第二季度总收入为 230.5 亿元人民币（35.6 亿美元）。根据路孚特的 IBES 数据，分析师平均预期营收为 264.4 亿元人民币。</blockquote></p><p> <a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">Q2 2021 Pinduoduo Inc Earnings Conference Call</a></p><p><blockquote><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">2021 年第二季度拼多多公司收益电话会议</a></blockquote></p><p> <b>Second Quarter 2021 Highlights</b></p><p><blockquote><b>2021 年第二季度亮点</b></blockquote></p><p> <ul>  <li><b>Total revenues</b>&nbsp;in the quarter were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% from&nbsp;RMB12,193.3 millionin the same quarter of 2020.</li>  <li><b>Average monthly active users</b>&nbsp;in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.</li>  <li><b>Active buyers</b>&nbsp;in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.</li>  <li><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP&nbsp;operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</li> </ul> Pinduoduo&nbsp;shares&nbsp;were back to $84.01, up 3.6%.</p><p><blockquote><ul><li><b>收入总额</b>本季度营业额为人民币230.462亿元（35.694亿美元），较2020年同季度的人民币121.933亿元增长89%。</li><li><b>平均月活跃用户</b>本季度为 7.385 亿美元，比 2020 年同季度的 5.688 亿美元增长 30%。</li><li><b>活跃买家</b>截至2021年6月30日止12个月期间为8.499亿美元，较截至2020年6月30日止12个月期间的6.832亿美元增长24%。</li><li><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</li><li><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</li></ul>拼多多股价回升至 84.01 美元，上涨 3.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef551e259866b07f824d1785781e3b7\" tg-width=\"892\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> “Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”</p><p><blockquote>“农业长期以来一直是拼多多企业使命和战略的核心，我们今天宣布的'百亿农业计划'是我们深化对农业现代化和乡村振兴支持的一种方式，”将负责监督该计划的拼多多董事长兼首席执行官陈磊说。“投资农业对每个人都有好处，因为农业是粮食安全和质量、公共健康和环境可持续性的纽带”。</blockquote></p><p> “We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”</p><p><blockquote>“我们在本季度继续保持强劲的执行力。2021 年第二季度，我们的总收入（不包括商品销售的贡献）比上年同期增长了 73%，”拼多多财务副总裁 Tony Ma 说。“农业仍然是我们的战略重点，我们致力于耐心和持续地投资农业。”</blockquote></p><p> <b>Second Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第二季度未经审计财务业绩</b></blockquote></p><p> <b>Total revenues</b>&nbsp;were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.</p><p><blockquote><b>收入总额</b>为人民币23,046.2百万元（3,569.4百万美元），较2020年同季度的人民币12,193.3百万元增长89%。该增加主要是由于在线营销服务收入增加所致。</blockquote></p><p> <ul>  <li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.</li>  <li><b>Revenues from transaction services</b>&nbsp;were&nbsp;RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.</li>  <li><b>Revenues from merchandise sales</b>&nbsp;were&nbsp;RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.</li> </ul> <b>Total costs of revenues</b>&nbsp;were&nbsp;RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.</p><p><blockquote><ul><li><b>来自在线营销服务及其他的收入</b>为人民币18,080.4百万元（2,800.3百万美元），较2020年同季度的人民币11,054.7百万元增长64%。</li><li><b>交易服务收入</b>为人民币30.076亿元（4.658亿美元），较2020年同季度的人民币11.386亿元增长164%。</li><li><b>商品销售收入</b>为人民币1,958.2百万元（3.033亿美元），较2020年同一季度的零增加人民币1,958.2百万元。</li></ul><b>收入总成本</b>为人民币78.979亿元（12.232亿美元），较2020年同一季度的人民币26.621亿元增长197%。该增加主要由于商品销售应占成本、支付处理费、云服务费以及交付和仓储费成本上升所致。</blockquote></p><p> <b>Total operating expenses</b>&nbsp;were&nbsp;RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.</p><p><blockquote><b>营运开支总额</b>为人民币13,150.9百万元（2,036.8百万美元），而2020年同季度为人民币111,170.8百万元。</blockquote></p><p></p><p> <ul>  <li><b>Sales and marketing expenses</b>&nbsp;were&nbsp;RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.</li>  <li><b>General and administrative expenses</b>&nbsp;were&nbsp;RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.</li>  <li><b>Research and development expenses</b>&nbsp;were&nbsp;RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li> </ul> <b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</p><p><blockquote><ul><li><b>销售及市场推广开支</b>为人民币10,387.9百万元（1,608.9百万美元），较二零二零年同季度的人民币9,113.6百万元增长14%，主要由于促销及优惠券开支增加所致。</li><li><b>一般及行政开支</b>为人民币4.342亿元（6720万美元），较2020年同季度的人民币3.948亿元增长10%。</li><li><b>研发开支</b>为人民币2,328.8百万元（3.607亿美元），较2020年同一季度的人民币1,662.4百万元增长40%。该增加主要由于员工人数增加及招聘更多经验丰富的研发人员以及研发相关云服务开支增加所致。</li></ul><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</blockquote></p><p> <b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</p><p><blockquote><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</blockquote></p><p> <b>Basic earnings per ADS</b>&nbsp;was&nbsp;RMB1.93(US$0.30) and&nbsp;<b>diluted earnings per ADS</b>&nbsp;was&nbsp;RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.<b>Non-GAAP diluted earnings per ADS</b>&nbsp;was&nbsp;RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.</p><p><blockquote><b>每股广告基本收益</b>为人民币1.93元（0.30美元）及<b>每股美国存托凭证摊薄收益</b>为人民币 1.69 元（0.27 美元），而 2020 年同季度每股美国存托凭证的基本和摊薄净亏损为人民币 0.75 元。<b>非 GAAP 稀释每股 ADS 收益</b>为人民币 2.85 元（0.44 美元），而 2020 年同季度非 GAAP 摊薄每股美国存托凭证净亏损为人民币 0.06 元。</blockquote></p><p> <b>Net cash flow provided by operating activities</b>&nbsp;was&nbsp;RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.</p><p><blockquote><b>经营活动提供的现金流量净额</b>营业额为人民币 7,371.2 百万元（1,141.7 百万美元），而 2020 年同季度为人民币 5,495.3 百万元，主要由于在线营销服务收入增加。</blockquote></p><p> <b>Cash, cash equivalents and short-term investments</b>were&nbsp;RMB&nbsp;92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.</p><p><blockquote><b>现金、现金等价物及短期投资</b>截至2021年6月30日为人民币922亿元（143亿美元），而截至2020年12月31日为人民币870亿元。</blockquote></p><p> <b>Recent Development</b></p><p><blockquote><b>近期发展</b></blockquote></p><p> As ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.</p><p><blockquote>截至2021年7月31日，2024年到期的0%可换股债券中的7.737亿美元已转换为新发行的美国存托凭证。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194470972","content_text":"Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.\nTotal revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.\nQ2 2021 Pinduoduo Inc Earnings Conference Call\nSecond Quarter 2021 Highlights\n\nTotal revenues in the quarter were RMB23,046.2 million(US$3,569.4 million), an increase of 89% from RMB12,193.3 millionin the same quarter of 2020.\nAverage monthly active users in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.\nActive buyers in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.\nOperating profit in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.Non-GAAP operating profit in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.\nNet income attributable to ordinary shareholders in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.Non-GAAP net income attributable to ordinary shareholders in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.\n\nPinduoduo shares were back to $84.01, up 3.6%.\n\n“Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”\n“We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”\nSecond Quarter 2021 Unaudited Financial Results\nTotal revenues were RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.\n\nRevenues from online marketing services and others were RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.\nRevenues from transaction services were RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.\nRevenues from merchandise sales were RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.\n\nTotal costs of revenues were RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.\nTotal operating expenses were RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.\n\nSales and marketing expenses were RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.\nGeneral and administrative expenses were RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.\nResearch and development expenses were RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&D personnel and an increase in R&D-related cloud services expenses.\n\nOperating profit in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.Non-GAAP operating profit in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.\nNet income attributable to ordinary shareholders in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.Non-GAAP net income attributable to ordinary shareholders in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.\nBasic earnings per ADS was RMB1.93(US$0.30) and diluted earnings per ADS was RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.Non-GAAP diluted earnings per ADS was RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.\nNet cash flow provided by operating activities was RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.\nCash, cash equivalents and short-term investmentswere RMB 92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.\nRecent Development\nAs ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.","news_type":1,"symbols_score_info":{"PDD":0.9}},"isVote":1,"tweetType":1,"viewCount":826,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834210314,"gmtCreate":1629805669338,"gmtModify":1631893387574,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/834210314","repostId":"1194470972","repostType":4,"repost":{"id":"1194470972","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":1629804284,"share":"https://www.laohunote.com/m/news/1194470972?lang=zh_CN&edition=full","pubTime":"2021-08-24 19:24","market":"us","language":"en","title":"China's Pinduoduo misses quarterly revenue expectations<blockquote>中国拼多多未达季度收入预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194470972","media":"Tiger Newspress","summary":"Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.Total revenue was 23.05 billion yuan in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.Total revenues in the quarter were RMB23,046.2 million, an increase of 89% from RMB12,193.3 millio","content":"<p>Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.</p><p><blockquote>中国电子商务平台拼多多周二的季度收入未达华尔街预期，受到阿里巴巴-SW和京东等大型竞争对手的激烈竞争，以利用疫情推动的在线购物激增。</blockquote></p><p> Total revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.</p><p><blockquote>截至 6 月 30 日的第二季度总收入为 230.5 亿元人民币（35.6 亿美元）。根据路孚特的 IBES 数据，分析师平均预期营收为 264.4 亿元人民币。</blockquote></p><p> <a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">Q2 2021 Pinduoduo Inc Earnings Conference Call</a></p><p><blockquote><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">2021 年第二季度拼多多公司收益电话会议</a></blockquote></p><p> <b>Second Quarter 2021 Highlights</b></p><p><blockquote><b>2021 年第二季度亮点</b></blockquote></p><p> <ul>  <li><b>Total revenues</b>&nbsp;in the quarter were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% from&nbsp;RMB12,193.3 millionin the same quarter of 2020.</li>  <li><b>Average monthly active users</b>&nbsp;in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.</li>  <li><b>Active buyers</b>&nbsp;in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.</li>  <li><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP&nbsp;operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</li> </ul> Pinduoduo&nbsp;shares&nbsp;were back to $84.01, up 3.6%.</p><p><blockquote><ul><li><b>收入总额</b>本季度营业额为人民币230.462亿元（35.694亿美元），较2020年同季度的人民币121.933亿元增长89%。</li><li><b>平均月活跃用户</b>本季度为 7.385 亿美元，比 2020 年同季度的 5.688 亿美元增长 30%。</li><li><b>活跃买家</b>截至2021年6月30日止12个月期间为8.499亿美元，较截至2020年6月30日止12个月期间的6.832亿美元增长24%。</li><li><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</li><li><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</li></ul>拼多多股价回升至 84.01 美元，上涨 3.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef551e259866b07f824d1785781e3b7\" tg-width=\"892\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> “Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”</p><p><blockquote>“农业长期以来一直是拼多多企业使命和战略的核心，我们今天宣布的'百亿农业计划'是我们深化对农业现代化和乡村振兴支持的一种方式，”将负责监督该计划的拼多多董事长兼首席执行官陈磊说。“投资农业对每个人都有好处，因为农业是粮食安全和质量、公共健康和环境可持续性的纽带”。</blockquote></p><p> “We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”</p><p><blockquote>“我们在本季度继续保持强劲的执行力。2021 年第二季度，我们的总收入（不包括商品销售的贡献）比上年同期增长了 73%，”拼多多财务副总裁 Tony Ma 说。“农业仍然是我们的战略重点，我们致力于耐心和持续地投资农业。”</blockquote></p><p> <b>Second Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第二季度未经审计财务业绩</b></blockquote></p><p> <b>Total revenues</b>&nbsp;were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.</p><p><blockquote><b>收入总额</b>为人民币23,046.2百万元（3,569.4百万美元），较2020年同季度的人民币12,193.3百万元增长89%。该增加主要是由于在线营销服务收入增加所致。</blockquote></p><p> <ul>  <li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.</li>  <li><b>Revenues from transaction services</b>&nbsp;were&nbsp;RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.</li>  <li><b>Revenues from merchandise sales</b>&nbsp;were&nbsp;RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.</li> </ul> <b>Total costs of revenues</b>&nbsp;were&nbsp;RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.</p><p><blockquote><ul><li><b>来自在线营销服务及其他的收入</b>为人民币18,080.4百万元（2,800.3百万美元），较2020年同季度的人民币11,054.7百万元增长64%。</li><li><b>交易服务收入</b>为人民币30.076亿元（4.658亿美元），较2020年同季度的人民币11.386亿元增长164%。</li><li><b>商品销售收入</b>为人民币1,958.2百万元（3.033亿美元），较2020年同一季度的零增加人民币1,958.2百万元。</li></ul><b>收入总成本</b>为人民币78.979亿元（12.232亿美元），较2020年同一季度的人民币26.621亿元增长197%。该增加主要由于商品销售应占成本、支付处理费、云服务费以及交付和仓储费成本上升所致。</blockquote></p><p> <b>Total operating expenses</b>&nbsp;were&nbsp;RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.</p><p><blockquote><b>营运开支总额</b>为人民币13,150.9百万元（2,036.8百万美元），而2020年同季度为人民币111,170.8百万元。</blockquote></p><p></p><p> <ul>  <li><b>Sales and marketing expenses</b>&nbsp;were&nbsp;RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.</li>  <li><b>General and administrative expenses</b>&nbsp;were&nbsp;RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.</li>  <li><b>Research and development expenses</b>&nbsp;were&nbsp;RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li> </ul> <b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</p><p><blockquote><ul><li><b>销售及市场推广开支</b>为人民币10,387.9百万元（1,608.9百万美元），较二零二零年同季度的人民币9,113.6百万元增长14%，主要由于促销及优惠券开支增加所致。</li><li><b>一般及行政开支</b>为人民币4.342亿元（6720万美元），较2020年同季度的人民币3.948亿元增长10%。</li><li><b>研发开支</b>为人民币2,328.8百万元（3.607亿美元），较2020年同一季度的人民币1,662.4百万元增长40%。该增加主要由于员工人数增加及招聘更多经验丰富的研发人员以及研发相关云服务开支增加所致。</li></ul><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</blockquote></p><p> <b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</p><p><blockquote><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</blockquote></p><p> <b>Basic earnings per ADS</b>&nbsp;was&nbsp;RMB1.93(US$0.30) and&nbsp;<b>diluted earnings per ADS</b>&nbsp;was&nbsp;RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.<b>Non-GAAP diluted earnings per ADS</b>&nbsp;was&nbsp;RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.</p><p><blockquote><b>每股广告基本收益</b>为人民币1.93元（0.30美元）及<b>每股美国存托凭证摊薄收益</b>为人民币 1.69 元（0.27 美元），而 2020 年同季度每股美国存托凭证的基本和摊薄净亏损为人民币 0.75 元。<b>非 GAAP 稀释每股 ADS 收益</b>为人民币 2.85 元（0.44 美元），而 2020 年同季度非 GAAP 摊薄每股美国存托凭证净亏损为人民币 0.06 元。</blockquote></p><p> <b>Net cash flow provided by operating activities</b>&nbsp;was&nbsp;RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.</p><p><blockquote><b>经营活动提供的现金流量净额</b>营业额为人民币 7,371.2 百万元（1,141.7 百万美元），而 2020 年同季度为人民币 5,495.3 百万元，主要由于在线营销服务收入增加。</blockquote></p><p> <b>Cash, cash equivalents and short-term investments</b>were&nbsp;RMB&nbsp;92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.</p><p><blockquote><b>现金、现金等价物及短期投资</b>截至2021年6月30日为人民币922亿元（143亿美元），而截至2020年12月31日为人民币870亿元。</blockquote></p><p> <b>Recent Development</b></p><p><blockquote><b>近期发展</b></blockquote></p><p> As ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.</p><p><blockquote>截至2021年7月31日，2024年到期的0%可换股债券中的7.737亿美元已转换为新发行的美国存托凭证。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nChina's Pinduoduo misses quarterly revenue expectations<blockquote>中国拼多多未达季度收入预期</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\">2021-08-24 19:24</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.</p><p><blockquote>中国电子商务平台拼多多周二的季度收入未达华尔街预期，受到阿里巴巴-SW和京东等大型竞争对手的激烈竞争，以利用疫情推动的在线购物激增。</blockquote></p><p> Total revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.</p><p><blockquote>截至 6 月 30 日的第二季度总收入为 230.5 亿元人民币（35.6 亿美元）。根据路孚特的 IBES 数据，分析师平均预期营收为 264.4 亿元人民币。</blockquote></p><p> <a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">Q2 2021 Pinduoduo Inc Earnings Conference Call</a></p><p><blockquote><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">2021 年第二季度拼多多公司收益电话会议</a></blockquote></p><p> <b>Second Quarter 2021 Highlights</b></p><p><blockquote><b>2021 年第二季度亮点</b></blockquote></p><p> <ul>  <li><b>Total revenues</b>&nbsp;in the quarter were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% from&nbsp;RMB12,193.3 millionin the same quarter of 2020.</li>  <li><b>Average monthly active users</b>&nbsp;in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.</li>  <li><b>Active buyers</b>&nbsp;in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.</li>  <li><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP&nbsp;operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</li> </ul> Pinduoduo&nbsp;shares&nbsp;were back to $84.01, up 3.6%.</p><p><blockquote><ul><li><b>收入总额</b>本季度营业额为人民币230.462亿元（35.694亿美元），较2020年同季度的人民币121.933亿元增长89%。</li><li><b>平均月活跃用户</b>本季度为 7.385 亿美元，比 2020 年同季度的 5.688 亿美元增长 30%。</li><li><b>活跃买家</b>截至2021年6月30日止12个月期间为8.499亿美元，较截至2020年6月30日止12个月期间的6.832亿美元增长24%。</li><li><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</li><li><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</li></ul>拼多多股价回升至 84.01 美元，上涨 3.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef551e259866b07f824d1785781e3b7\" tg-width=\"892\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> “Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”</p><p><blockquote>“农业长期以来一直是拼多多企业使命和战略的核心，我们今天宣布的'百亿农业计划'是我们深化对农业现代化和乡村振兴支持的一种方式，”将负责监督该计划的拼多多董事长兼首席执行官陈磊说。“投资农业对每个人都有好处，因为农业是粮食安全和质量、公共健康和环境可持续性的纽带”。</blockquote></p><p> “We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”</p><p><blockquote>“我们在本季度继续保持强劲的执行力。2021 年第二季度，我们的总收入（不包括商品销售的贡献）比上年同期增长了 73%，”拼多多财务副总裁 Tony Ma 说。“农业仍然是我们的战略重点，我们致力于耐心和持续地投资农业。”</blockquote></p><p> <b>Second Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第二季度未经审计财务业绩</b></blockquote></p><p> <b>Total revenues</b>&nbsp;were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.</p><p><blockquote><b>收入总额</b>为人民币23,046.2百万元（3,569.4百万美元），较2020年同季度的人民币12,193.3百万元增长89%。该增加主要是由于在线营销服务收入增加所致。</blockquote></p><p> <ul>  <li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.</li>  <li><b>Revenues from transaction services</b>&nbsp;were&nbsp;RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.</li>  <li><b>Revenues from merchandise sales</b>&nbsp;were&nbsp;RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.</li> </ul> <b>Total costs of revenues</b>&nbsp;were&nbsp;RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.</p><p><blockquote><ul><li><b>来自在线营销服务及其他的收入</b>为人民币18,080.4百万元（2,800.3百万美元），较2020年同季度的人民币11,054.7百万元增长64%。</li><li><b>交易服务收入</b>为人民币30.076亿元（4.658亿美元），较2020年同季度的人民币11.386亿元增长164%。</li><li><b>商品销售收入</b>为人民币1,958.2百万元（3.033亿美元），较2020年同一季度的零增加人民币1,958.2百万元。</li></ul><b>收入总成本</b>为人民币78.979亿元（12.232亿美元），较2020年同一季度的人民币26.621亿元增长197%。该增加主要由于商品销售应占成本、支付处理费、云服务费以及交付和仓储费成本上升所致。</blockquote></p><p> <b>Total operating expenses</b>&nbsp;were&nbsp;RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.</p><p><blockquote><b>营运开支总额</b>为人民币13,150.9百万元（2,036.8百万美元），而2020年同季度为人民币111,170.8百万元。</blockquote></p><p></p><p> <ul>  <li><b>Sales and marketing expenses</b>&nbsp;were&nbsp;RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.</li>  <li><b>General and administrative expenses</b>&nbsp;were&nbsp;RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.</li>  <li><b>Research and development expenses</b>&nbsp;were&nbsp;RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li> </ul> <b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</p><p><blockquote><ul><li><b>销售及市场推广开支</b>为人民币10,387.9百万元（1,608.9百万美元），较二零二零年同季度的人民币9,113.6百万元增长14%，主要由于促销及优惠券开支增加所致。</li><li><b>一般及行政开支</b>为人民币4.342亿元（6720万美元），较2020年同季度的人民币3.948亿元增长10%。</li><li><b>研发开支</b>为人民币2,328.8百万元（3.607亿美元），较2020年同一季度的人民币1,662.4百万元增长40%。该增加主要由于员工人数增加及招聘更多经验丰富的研发人员以及研发相关云服务开支增加所致。</li></ul><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</blockquote></p><p> <b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</p><p><blockquote><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</blockquote></p><p> <b>Basic earnings per ADS</b>&nbsp;was&nbsp;RMB1.93(US$0.30) and&nbsp;<b>diluted earnings per ADS</b>&nbsp;was&nbsp;RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.<b>Non-GAAP diluted earnings per ADS</b>&nbsp;was&nbsp;RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.</p><p><blockquote><b>每股广告基本收益</b>为人民币1.93元（0.30美元）及<b>每股美国存托凭证摊薄收益</b>为人民币 1.69 元（0.27 美元），而 2020 年同季度每股美国存托凭证的基本和摊薄净亏损为人民币 0.75 元。<b>非 GAAP 稀释每股 ADS 收益</b>为人民币 2.85 元（0.44 美元），而 2020 年同季度非 GAAP 摊薄每股美国存托凭证净亏损为人民币 0.06 元。</blockquote></p><p> <b>Net cash flow provided by operating activities</b>&nbsp;was&nbsp;RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.</p><p><blockquote><b>经营活动提供的现金流量净额</b>营业额为人民币 7,371.2 百万元（1,141.7 百万美元），而 2020 年同季度为人民币 5,495.3 百万元，主要由于在线营销服务收入增加。</blockquote></p><p> <b>Cash, cash equivalents and short-term investments</b>were&nbsp;RMB&nbsp;92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.</p><p><blockquote><b>现金、现金等价物及短期投资</b>截至2021年6月30日为人民币922亿元（143亿美元），而截至2020年12月31日为人民币870亿元。</blockquote></p><p> <b>Recent Development</b></p><p><blockquote><b>近期发展</b></blockquote></p><p> As ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.</p><p><blockquote>截至2021年7月31日，2024年到期的0%可换股债券中的7.737亿美元已转换为新发行的美国存托凭证。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194470972","content_text":"Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.\nTotal revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.\nQ2 2021 Pinduoduo Inc Earnings Conference Call\nSecond Quarter 2021 Highlights\n\nTotal revenues in the quarter were RMB23,046.2 million(US$3,569.4 million), an increase of 89% from RMB12,193.3 millionin the same quarter of 2020.\nAverage monthly active users in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.\nActive buyers in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.\nOperating profit in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.Non-GAAP operating profit in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.\nNet income attributable to ordinary shareholders in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.Non-GAAP net income attributable to ordinary shareholders in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.\n\nPinduoduo shares were back to $84.01, up 3.6%.\n\n“Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”\n“We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”\nSecond Quarter 2021 Unaudited Financial Results\nTotal revenues were RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.\n\nRevenues from online marketing services and others were RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.\nRevenues from transaction services were RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.\nRevenues from merchandise sales were RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.\n\nTotal costs of revenues were RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.\nTotal operating expenses were RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.\n\nSales and marketing expenses were RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.\nGeneral and administrative expenses were RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.\nResearch and development expenses were RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&D personnel and an increase in R&D-related cloud services expenses.\n\nOperating profit in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.Non-GAAP operating profit in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.\nNet income attributable to ordinary shareholders in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.Non-GAAP net income attributable to ordinary shareholders in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.\nBasic earnings per ADS was RMB1.93(US$0.30) and diluted earnings per ADS was RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.Non-GAAP diluted earnings per ADS was RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.\nNet cash flow provided by operating activities was RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.\nCash, cash equivalents and short-term investmentswere RMB 92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.\nRecent Development\nAs ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.","news_type":1,"symbols_score_info":{"PDD":0.9}},"isVote":1,"tweetType":1,"viewCount":980,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834141382,"gmtCreate":1629783792946,"gmtModify":1631893387573,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"nice&nbsp;","listText":"nice&nbsp;","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/834141382","repostId":"2161470666","repostType":4,"isVote":1,"tweetType":1,"viewCount":632,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832331812,"gmtCreate":1629589072136,"gmtModify":1631893387579,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/832331812","repostId":"1172699620","repostType":4,"repost":{"id":"1172699620","kind":"news","pubTimestamp":1629450202,"share":"https://www.laohunote.com/m/news/1172699620?lang=zh_CN&edition=full","pubTime":"2021-08-20 17:03","market":"us","language":"en","title":"Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该始终远离</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1172699620","media":"Kiplinger","summary":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar","content":"<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p><p><blockquote>细价股——那些低价交易的股票，通常股价不到每股一美元——是危险的。周期。事实上，除了少数例外，投资者应该避开这些超便宜的股票，这些股票通常在场外交易，而不是在主要交易所交易。</blockquote></p><p> Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p><p><blockquote>看涨期权它们是细价股、微型股或场外股票；不管怎么说，他们都是坏消息。当一项投资可以用这么少的前期资金进行时，快速轻松致富的承诺更容易落空。投资者可能会想，“风险有多大？”</blockquote></p><p> Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p><p><blockquote>大量。根据美国证券交易委员会的说法： “学术研究发现，场外交易股票往往流动性极差；经常成为涉嫌市场操纵的目标；平均投资回报为负且不稳定；很少成长为大公司或过渡到证券交易所上市”。</blockquote></p><p> We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p><p><blockquote>我们将在下面分析这一切的含义，但可以说，美国证券交易委员会并不喜欢它。</blockquote></p><p> <h3><b>Why Penny Stocks Are So Dangerous</b></h3> To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p><p><blockquote><h3><b>为什么细价股如此危险</b></h3>需要明确的是，这并不是说每一个细价股或场外交易公司都是骗局。危险在于，场外市场是诈骗股票生存的地方。就当是个糟糕的社区吧。在那里会让你成为骗子的标记。</blockquote></p><p> For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p><p><blockquote>在某些背景下，场外交易市场不同于纽约证券交易所或纳斯达克等集中交易的交易所。没有场外交易所。相反，场外交易通过基于计算机和电话的系统连接买家和卖家。任何不在纽约证券交易所、纳斯达克或其他美国成熟交易所交易的股票都可以在场外交易。这些证券也被称为 “非上市股票”。</blockquote></p><p> Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p><p><blockquote>通常，场外股票往往是高风险的微型股（市值低于 3 亿美元的小公司的股票），其中包括纳米股（市值低于 5000 万美元的股票）。</blockquote></p><p> The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p><p><blockquote>美国证券交易委员会长期以来一直警告投资者此类股票存在高风险。金融业监管局（FINRA）是金融业的自律机构，也对场外证券的购买和交易亮起了红旗。</blockquote></p><p> That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p><p><blockquote>这是因为在场外交易所上市的公司无需像在纽约证券交易所或纳斯达克等主要交易所上市那样提交定期或经审计的财务报告。换句话说，当他们声称有销售额和利润时，根本无法知道他们说的是不是实话。各大交易所也有上市要求；场外股票则不然。例如，一家公司必须拥有至少400名股东，市值至少4000万美元才能在纽约证券交易所上市。OTC没有这样的要求。</blockquote></p><p> Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p><p><blockquote>把所有这些放在一起，这使得不道德的经理更容易对他们的商业前景撒谎或进行证券欺诈。</blockquote></p><p> But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p><p><blockquote>但这还不是全部。在场外交易所交易的股票往往 “流动性差”，这意味着它们的交易量往往较低，买卖双方数量有限。这可能会使投资者难以或不可能以他们想要的价格买卖股票。</blockquote></p><p> That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p><p><blockquote>流动性的缺乏也使得许多场外股票成为 “拉高抛售 ”计划的完美工具，在这种计划中，股票发起人引诱投资者购买股票，从而推高股价。然后，当价格变得足够高时，泵商出售他的股票，导致股票下跌，给投资者留下糟糕的回报，甚至损失。这里有人看到了吗<i>华尔街之狼</i>?</blockquote></p><p> To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p><p><blockquote>为了保护投资者免受这些计划的影响，SEC 在 2012 年至 2015 年间暂停了 800 多只微型股（占场外交易市场的 8% 以上）的交易。股票一旦被暂停交易，就不能重新上市，除非公司提供最新的财务信息来证明其实际运营。由于这种情况很少发生，暂停交易本质上使股票对诈骗艺术家毫无用处。</blockquote></p><p> <h3><b>Legitimate OTCs</b></h3> Be that as it may, there is one segment of the OTC market that investors need not fear.</p><p><blockquote><h3><b>合法场外交易</b></h3>尽管如此，场外交易市场有一个部分投资者不必担心。</blockquote></p><p> Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p><p><blockquote>在一片哗然之中，一些世界上最大、最受尊敬的外国公司在场外上市，而不是在美国主要交易所上市。在这里，您可以找到以下股票<b>这个<a href=\"https://laohu8.com/S/IDCBY\">中国工商银行股份有限公司</a></b>（IDCBY），恰好是世界上最大的银行。您还可以购买瑞士<b>雀巢</b>（NSRGY），全球最大的食品公司；中国的<b><a href=\"https://laohu8.com/S/TCEHY\">腾讯控股控股有限公司</a></b>(TCEHY)，该国最大的互联网服务提供商之一；和日本游戏巨头<b><a href=\"https://laohu8.com/S/NTDOY\">任天堂有限公司</a></b>（NTDOY）。</blockquote></p><p> Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p><p><blockquote>为什么大型国际上市公司会与发行高度投机性细价股的公司擦肩而过？</blockquote></p><p></p><p> The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p><p><blockquote>原因与成本和便利性有关。例如，在纽约证券交易所或纳斯达克上市的外国公司必须为其所做的一切准备两套经审计的财务报表--一套符合国际会计准则，另一套遵守美国使用的公认会计准则（GAAP），这不是场外交易的要求。</blockquote></p><p> With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p><p><blockquote>通过场外上市，外国公司可以以很小的成本和精力接触到大量的美国股票投资者。</blockquote></p><p> The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p><p><blockquote>底线是，除了大型、成熟的外国公司之外，场外股票存在太多风险。普通投资者不可能知道公司是否蒸蒸日上。即使是合法的小公司也可能在一夜之间倒闭。交易场外股票交易的陷阱根本不值得。</blockquote></p><p> It’s easy enough to lose money investing in stocks. Why make it easier?</p><p><blockquote>投资股票很容易赔钱。为什么要让它变得更容易？</blockquote></p><p></p>","source":"lsy1629449927514","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>Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该始终远离</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\">\nPenny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该始终远离</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Kiplinger</strong><span class=\"h-time small\">2021-08-20 17:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p><p><blockquote>细价股——那些低价交易的股票，通常股价不到每股一美元——是危险的。周期。事实上，除了少数例外，投资者应该避开这些超便宜的股票，这些股票通常在场外交易，而不是在主要交易所交易。</blockquote></p><p> Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p><p><blockquote>看涨期权它们是细价股、微型股或场外股票；不管怎么说，他们都是坏消息。当一项投资可以用这么少的前期资金进行时，快速轻松致富的承诺更容易落空。投资者可能会想，“风险有多大？”</blockquote></p><p> Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p><p><blockquote>大量。根据美国证券交易委员会的说法： “学术研究发现，场外交易股票往往流动性极差；经常成为涉嫌市场操纵的目标；平均投资回报为负且不稳定；很少成长为大公司或过渡到证券交易所上市”。</blockquote></p><p> We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p><p><blockquote>我们将在下面分析这一切的含义，但可以说，美国证券交易委员会并不喜欢它。</blockquote></p><p> <h3><b>Why Penny Stocks Are So Dangerous</b></h3> To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p><p><blockquote><h3><b>为什么细价股如此危险</b></h3>需要明确的是，这并不是说每一个细价股或场外交易公司都是骗局。危险在于，场外市场是诈骗股票生存的地方。就当是个糟糕的社区吧。在那里会让你成为骗子的标记。</blockquote></p><p> For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p><p><blockquote>在某些背景下，场外交易市场不同于纽约证券交易所或纳斯达克等集中交易的交易所。没有场外交易所。相反，场外交易通过基于计算机和电话的系统连接买家和卖家。任何不在纽约证券交易所、纳斯达克或其他美国成熟交易所交易的股票都可以在场外交易。这些证券也被称为 “非上市股票”。</blockquote></p><p> Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p><p><blockquote>通常，场外股票往往是高风险的微型股（市值低于 3 亿美元的小公司的股票），其中包括纳米股（市值低于 5000 万美元的股票）。</blockquote></p><p> The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p><p><blockquote>美国证券交易委员会长期以来一直警告投资者此类股票存在高风险。金融业监管局（FINRA）是金融业的自律机构，也对场外证券的购买和交易亮起了红旗。</blockquote></p><p> That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p><p><blockquote>这是因为在场外交易所上市的公司无需像在纽约证券交易所或纳斯达克等主要交易所上市那样提交定期或经审计的财务报告。换句话说，当他们声称有销售额和利润时，根本无法知道他们说的是不是实话。各大交易所也有上市要求；场外股票则不然。例如，一家公司必须拥有至少400名股东，市值至少4000万美元才能在纽约证券交易所上市。OTC没有这样的要求。</blockquote></p><p> Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p><p><blockquote>把所有这些放在一起，这使得不道德的经理更容易对他们的商业前景撒谎或进行证券欺诈。</blockquote></p><p> But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p><p><blockquote>但这还不是全部。在场外交易所交易的股票往往 “流动性差”，这意味着它们的交易量往往较低，买卖双方数量有限。这可能会使投资者难以或不可能以他们想要的价格买卖股票。</blockquote></p><p> That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p><p><blockquote>流动性的缺乏也使得许多场外股票成为 “拉高抛售 ”计划的完美工具，在这种计划中，股票发起人引诱投资者购买股票，从而推高股价。然后，当价格变得足够高时，泵商出售他的股票，导致股票下跌，给投资者留下糟糕的回报，甚至损失。这里有人看到了吗<i>华尔街之狼</i>?</blockquote></p><p> To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p><p><blockquote>为了保护投资者免受这些计划的影响，SEC 在 2012 年至 2015 年间暂停了 800 多只微型股（占场外交易市场的 8% 以上）的交易。股票一旦被暂停交易，就不能重新上市，除非公司提供最新的财务信息来证明其实际运营。由于这种情况很少发生，暂停交易本质上使股票对诈骗艺术家毫无用处。</blockquote></p><p> <h3><b>Legitimate OTCs</b></h3> Be that as it may, there is one segment of the OTC market that investors need not fear.</p><p><blockquote><h3><b>合法场外交易</b></h3>尽管如此，场外交易市场有一个部分投资者不必担心。</blockquote></p><p> Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p><p><blockquote>在一片哗然之中，一些世界上最大、最受尊敬的外国公司在场外上市，而不是在美国主要交易所上市。在这里，您可以找到以下股票<b>这个<a href=\"https://laohu8.com/S/IDCBY\">中国工商银行股份有限公司</a></b>（IDCBY），恰好是世界上最大的银行。您还可以购买瑞士<b>雀巢</b>（NSRGY），全球最大的食品公司；中国的<b><a href=\"https://laohu8.com/S/TCEHY\">腾讯控股控股有限公司</a></b>(TCEHY)，该国最大的互联网服务提供商之一；和日本游戏巨头<b><a href=\"https://laohu8.com/S/NTDOY\">任天堂有限公司</a></b>（NTDOY）。</blockquote></p><p> Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p><p><blockquote>为什么大型国际上市公司会与发行高度投机性细价股的公司擦肩而过？</blockquote></p><p></p><p> The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p><p><blockquote>原因与成本和便利性有关。例如，在纽约证券交易所或纳斯达克上市的外国公司必须为其所做的一切准备两套经审计的财务报表--一套符合国际会计准则，另一套遵守美国使用的公认会计准则（GAAP），这不是场外交易的要求。</blockquote></p><p> With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p><p><blockquote>通过场外上市，外国公司可以以很小的成本和精力接触到大量的美国股票投资者。</blockquote></p><p> The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p><p><blockquote>底线是，除了大型、成熟的外国公司之外，场外股票存在太多风险。普通投资者不可能知道公司是否蒸蒸日上。即使是合法的小公司也可能在一夜之间倒闭。交易场外股票交易的陷阱根本不值得。</blockquote></p><p> It’s easy enough to lose money investing in stocks. Why make it easier?</p><p><blockquote>投资股票很容易赔钱。为什么要让它变得更容易？</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away\">Kiplinger</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":{"TCEHY":"腾讯控股ADR","IDCBY":"工商银行ADR","NTDOY":"任天堂"},"source_url":"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172699620","content_text":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.\nCall them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"\nPlenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”\nWe’ll break down what all that means below, but suffice to say, the SEC is not a fan.\nWhy Penny Stocks Are So Dangerous\nTo be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.\nFor some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”\nTypically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).\nThe SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.\nThat’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.\nPut it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.\nBut that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.\nThat lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see The Wolf of Wall Street?\nTo protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.\nLegitimate OTCs\nBe that as it may, there is one segment of the OTC market that investors need not fear.\nAmidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of The Industrial and Commercial Bank of China Ltd. (IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’sNestlé(NSRGY), the largest food company in the world; China’s Tencent Holding Ltd. (TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant Nintendo Co., Ltd. (NTDOY).\nWhy would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?\nThe reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.\nWith an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.\nThe bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.\nIt’s easy enough to lose money investing in stocks. Why make it easier?","news_type":1,"symbols_score_info":{"IDCBY":0.9,"NTDOY":0.9,"TCEHY":0.9}},"isVote":1,"tweetType":1,"viewCount":1031,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836180478,"gmtCreate":1629464723794,"gmtModify":1631893387580,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836180478","repostId":"1150522255","repostType":4,"repost":{"id":"1150522255","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":1629386895,"share":"https://www.laohunote.com/m/news/1150522255?lang=zh_CN&edition=full","pubTime":"2021-08-19 23:28","market":"us","language":"en","title":"NVDA soars over 6% in morning trading<blockquote>NVDA 早盘交易中飙升超过 6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150522255","media":"Tiger Newspress","summary":"(Aug 19) Nvidia(NASDAQ:NVDA) shares rose over 6% Thursday to a record high following the chipmaker's","content":"<p>(Aug&nbsp;19)&nbsp;Nvidia(NASDAQ:NVDA)&nbsp;shares rose&nbsp;over 6%&nbsp;Thursday&nbsp;to&nbsp;a&nbsp;record&nbsp;high following the chipmaker's second-quarter results that were highlighted by strength in the company's data center business.</p><p><blockquote>（8 月 19 日）英伟达（纳斯达克股票代码：NVDA）股价周四上涨超过 6%，创历史新高，此前这家芯片制造商公布了第二季度业绩，该公司数据中心业务的强劲表现凸显了这一业绩。</blockquote></p><p> Data center revenue rose 35% from a year ago, to $2.37 billion. Bank of America Securities analyst Vivek Arya said that with regards to its data center offerings, <a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> (NVDA) showed growth in hyperscale, vertical markets and high-performance computing, which Arya said should help the company's data center business grow by at least 30% a year over the long-term. Arya has a buy rating and $260-a-share price target on Nvidia's (NVDA) stock.</p><p><blockquote>数据中心收入同比增长 35%，达到 23.7 亿美元。美国银行证券分析师 Vivek Arya 表示，关于其数据中心产品，<a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a>(NVDA) 在超大规模、垂直市场和高性能计算方面表现出增长，Arya 表示，从长远来看，这应该有助于该公司的数据中心业务每年至少增长 30%。Arya 对 Nvidia (NVDA) 股票给予买入评级，目标价为每股 260 美元。</blockquote></p><p> But, it was the gaming that produced the largest share of the company's revenue in the most-recent quarter. Gaming totaled $3.06 billion, up 85% from a year ago, led by demand for GeForce graphics processors and system-on-a-chip offerings for game consoles.</p><p><blockquote>但是，在最近一个季度，游戏业务占该公司收入的最大份额。游戏总额为 30.6 亿美元，同比增长 85%，主要原因是对 GeForce 图形处理器和游戏机片上系统产品的需求。</blockquote></p><p> Timothy Arcuri, of UBS, said Nvidia's (NVDA) gaming business is \"trending more in-line\" heading into what is typically a strong fall quarter for the company. Arcuri has a buy rating and $230-a-share price target on the chipmaker's stock.</p><p><blockquote>瑞银 (UBS) 的蒂莫西·阿库里 (Timothy Arcuri) 表示，英伟达 (NVDA) 的游戏业务在进入该公司典型的强劲秋季季度时“趋于更加一致”。Arcuri 对这家芯片制造商的股票给予买入评级，目标价为每股 230 美元。</blockquote></p><p> For the quarter, Nvidia (NVDA) reported a profit of $1.04 a share, on total revenue of $6.51 billion. Wall Street analysts had forecast the chipmaker to earn $1.02 a share on $6.34 billion in sales.</p><p><blockquote>本季度，英伟达 (NVDA) 公布每股利润 1.04 美元，总收入为 65.1 亿美元。华尔街分析师曾预测这家芯片制造商每股收益为 1.02 美元，销售额为 63.4 亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9901d7947e5f939784f513f994e97469\" tg-width=\"885\" tg-height=\"653\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul></ul></p><p><blockquote><ul></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>NVDA soars over 6% in morning trading<blockquote>NVDA 早盘交易中飙升超过 6%</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\">\nNVDA soars over 6% in morning trading<blockquote>NVDA 早盘交易中飙升超过 6%</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\">2021-08-19 23:28</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug&nbsp;19)&nbsp;Nvidia(NASDAQ:NVDA)&nbsp;shares rose&nbsp;over 6%&nbsp;Thursday&nbsp;to&nbsp;a&nbsp;record&nbsp;high following the chipmaker's second-quarter results that were highlighted by strength in the company's data center business.</p><p><blockquote>（8 月 19 日）英伟达（纳斯达克股票代码：NVDA）股价周四上涨超过 6%，创历史新高，此前这家芯片制造商公布了第二季度业绩，该公司数据中心业务的强劲表现凸显了这一业绩。</blockquote></p><p> Data center revenue rose 35% from a year ago, to $2.37 billion. Bank of America Securities analyst Vivek Arya said that with regards to its data center offerings, <a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> (NVDA) showed growth in hyperscale, vertical markets and high-performance computing, which Arya said should help the company's data center business grow by at least 30% a year over the long-term. Arya has a buy rating and $260-a-share price target on Nvidia's (NVDA) stock.</p><p><blockquote>数据中心收入同比增长 35%，达到 23.7 亿美元。美国银行证券分析师 Vivek Arya 表示，关于其数据中心产品，<a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a>(NVDA) 在超大规模、垂直市场和高性能计算方面表现出增长，Arya 表示，从长远来看，这应该有助于该公司的数据中心业务每年至少增长 30%。Arya 对 Nvidia (NVDA) 股票给予买入评级，目标价为每股 260 美元。</blockquote></p><p> But, it was the gaming that produced the largest share of the company's revenue in the most-recent quarter. Gaming totaled $3.06 billion, up 85% from a year ago, led by demand for GeForce graphics processors and system-on-a-chip offerings for game consoles.</p><p><blockquote>但是，在最近一个季度，游戏业务占该公司收入的最大份额。游戏总额为 30.6 亿美元，同比增长 85%，主要原因是对 GeForce 图形处理器和游戏机片上系统产品的需求。</blockquote></p><p> Timothy Arcuri, of UBS, said Nvidia's (NVDA) gaming business is \"trending more in-line\" heading into what is typically a strong fall quarter for the company. Arcuri has a buy rating and $230-a-share price target on the chipmaker's stock.</p><p><blockquote>瑞银 (UBS) 的蒂莫西·阿库里 (Timothy Arcuri) 表示，英伟达 (NVDA) 的游戏业务在进入该公司典型的强劲秋季季度时“趋于更加一致”。Arcuri 对这家芯片制造商的股票给予买入评级，目标价为每股 230 美元。</blockquote></p><p> For the quarter, Nvidia (NVDA) reported a profit of $1.04 a share, on total revenue of $6.51 billion. Wall Street analysts had forecast the chipmaker to earn $1.02 a share on $6.34 billion in sales.</p><p><blockquote>本季度，英伟达 (NVDA) 公布每股利润 1.04 美元，总收入为 65.1 亿美元。华尔街分析师曾预测这家芯片制造商每股收益为 1.02 美元，销售额为 63.4 亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9901d7947e5f939784f513f994e97469\" tg-width=\"885\" tg-height=\"653\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul></ul></p><p><blockquote><ul></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150522255","content_text":"(Aug 19) Nvidia(NASDAQ:NVDA) shares rose over 6% Thursday to a record high following the chipmaker's second-quarter results that were highlighted by strength in the company's data center business.\nData center revenue rose 35% from a year ago, to $2.37 billion. Bank of America Securities analyst Vivek Arya said that with regards to its data center offerings, NVIDIA Corp (NVDA) showed growth in hyperscale, vertical markets and high-performance computing, which Arya said should help the company's data center business grow by at least 30% a year over the long-term. Arya has a buy rating and $260-a-share price target on Nvidia's (NVDA) stock.\nBut, it was the gaming that produced the largest share of the company's revenue in the most-recent quarter. Gaming totaled $3.06 billion, up 85% from a year ago, led by demand for GeForce graphics processors and system-on-a-chip offerings for game consoles.\nTimothy Arcuri, of UBS, said Nvidia's (NVDA) gaming business is \"trending more in-line\" heading into what is typically a strong fall quarter for the company. Arcuri has a buy rating and $230-a-share price target on the chipmaker's stock.\nFor the quarter, Nvidia (NVDA) reported a profit of $1.04 a share, on total revenue of $6.51 billion. Wall Street analysts had forecast the chipmaker to earn $1.02 a share on $6.34 billion in sales.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1073,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836180346,"gmtCreate":1629464693185,"gmtModify":1631893387582,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/836180346","repostId":"2160955517","repostType":2,"repost":{"id":"2160955517","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":1629403678,"share":"https://www.laohunote.com/m/news/2160955517?lang=zh_CN&edition=full","pubTime":"2021-08-20 04:07","market":"us","language":"en","title":"Adobe To Acquire Frame.io In Transaction Valued At $1.275 Bln<blockquote>Adobe 将以 12.75 亿美元收购 Frame.io</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2160955517","media":"T-Reuters","summary":"Adobe Inc :Adobe To Acquire Frame.Io.Adobe Inc - Transaction, Valued At $1.275 Billion.Adobe Inc -.A","content":"<p><html><body><a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Inc <adbe.o>:Adobe To Acquire Frame.Io.Adobe Inc - Transaction, Valued At $1.275 Billion.Adobe Inc -.Adobe Inc - Until Transaction Closes, Each Company Will Continue To Operate Independently.Adobe Inc - Upon Close, Frame.Io Co-Founder And Ceo Emery Wells And Co-Founder John Traver Will Join Adobe.Adobe Inc - Wells Will Continue To Lead Frame.Io Team, Reporting To Scott Belsky.</adbe.o></p><p><blockquote><html><body><a href=\"https://laohu8.com/S/ADBE\">土坯</a>公司<adbe.o>:Adobe将收购Frame.Io。Adobe Inc - 交易，价值 12.75 亿美元。Adobe Inc.-.Adobe Inc.-在交易完成之前，每家公司将继续独立运营。Adobe Inc - Frame.Io 联合创始人兼首席执行官 Emery Wells 和联合创始人 John Traver 将加入 Adobe。Adobe Inc - Wells 将继续领导 Frame.Io 团队，向 Scott Belsky 汇报。</adbe.o></body></html></blockquote></p><p></body></html></p><p><blockquote></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>Adobe To Acquire Frame.io In Transaction Valued At $1.275 Bln<blockquote>Adobe 将以 12.75 亿美元收购 Frame.io</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\">\nAdobe To Acquire Frame.io In Transaction Valued At $1.275 Bln<blockquote>Adobe 将以 12.75 亿美元收购 Frame.io</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086160438\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">T-Reuters </p>\n<p class=\"h-time smaller\">2021-08-20 04:07</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><body><a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Inc <adbe.o>:Adobe To Acquire Frame.Io.Adobe Inc - Transaction, Valued At $1.275 Billion.Adobe Inc -.Adobe Inc - Until Transaction Closes, Each Company Will Continue To Operate Independently.Adobe Inc - Upon Close, Frame.Io Co-Founder And Ceo Emery Wells And Co-Founder John Traver Will Join Adobe.Adobe Inc - Wells Will Continue To Lead Frame.Io Team, Reporting To Scott Belsky.</adbe.o></p><p><blockquote><html><body><a href=\"https://laohu8.com/S/ADBE\">土坯</a>公司<adbe.o>:Adobe将收购Frame.Io。Adobe Inc - 交易，价值 12.75 亿美元。Adobe Inc.-.Adobe Inc.-在交易完成之前，每家公司将继续独立运营。Adobe Inc - Frame.Io 联合创始人兼首席执行官 Emery Wells 和联合创始人 John Traver 将加入 Adobe。Adobe Inc - Wells 将继续领导 Frame.Io 团队，向 Scott Belsky 汇报。</adbe.o></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":{"ADBE":"Adobe"},"source_url":"https://www.trkd.thomsonreuters.com","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160955517","content_text":"Adobe Inc :Adobe To Acquire Frame.Io.Adobe Inc - Transaction, Valued At $1.275 Billion.Adobe Inc -.Adobe Inc - Until Transaction Closes, Each Company Will Continue To Operate Independently.Adobe Inc - Upon Close, Frame.Io Co-Founder And Ceo Emery Wells And Co-Founder John Traver Will Join Adobe.Adobe Inc - Wells Will Continue To Lead Frame.Io Team, Reporting To Scott Belsky.","news_type":1,"symbols_score_info":{"ADBE":1}},"isVote":1,"tweetType":1,"viewCount":823,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836117056,"gmtCreate":1629464613175,"gmtModify":1631893387585,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4089870956727770","idStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836117056","repostId":"2160714914","repostType":4,"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":801052259,"gmtCreate":1627475765371,"gmtModify":1633764669218,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/801052259","repostId":"1183056441","repostType":4,"repost":{"id":"1183056441","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":1627474322,"share":"https://www.laohunote.com/m/news/1183056441?lang=zh_CN&edition=full","pubTime":"2021-07-28 20:12","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183056441","media":"Tiger Newspress","summary":"U.S. Futures Fluctuate\n\n\ninvestors await the FED's monetary policy decision\n\nU.S. stock index future","content":"<p><ul>  <li>U.S. Futures Fluctuate</li> </ul> <ul>  <li>investors await the FED's monetary policy decision</li> </ul> U.S. stock index futures were muted on Wednesday after mixed results from large technology and internet giants, with investors awaiting the Federal Reserve's monetary policy decision later in the day.</p><p><blockquote><ul><li>美国期货波动</li></ul><ul><li>投资者等待美联储货币政策决定</li></ul>由于大型科技和互联网巨头的业绩好坏参半，美国股指期货周三表现平静，投资者等待美联储当天晚些时候的货币政策决定。</blockquote></p><p> At 8:00 a.m. ET, Dow e-minis were down 9 points, or 0.03%, S&amp;P 500 e-minis were up 3.50 points, or 0.08%, and Nasdaq 100 e-minis were up 44.00 points, or 0.29%.</p><p><blockquote>美国东部时间上午 8:00，道琼斯电子迷你指数下跌 9 点，跌幅 0.03%，标普500电子迷你指数上涨 3.50 点，跌幅 0.08%，纳斯达克 100 电子迷你指数上涨 44.00 点，跌幅 0.29%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cca0568a32fb294f3bedfa62fbe1f26f\" tg-width=\"1080\" tg-height=\"394\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Apple Inc&nbsp;slipped 0.7% in premarket trading after it forecast slowing revenue growth, as global chip shortage bit into its ability to sell Macs and iPads.read more</p><p><blockquote>由于全球芯片短缺影响了其销售 Mac 和 iPad 的能力，苹果预计收入增长将放缓，该公司在盘前交易中下跌 0.7%。阅读更多</blockquote></p><p> Shares of Google parent Alphabet Inc&nbsp;jumped 3.8% after a surge in advertising spending powered its record revenue and profit.</p><p><blockquote>谷歌母公司Alphabet公司的股价上涨 3.8%，此前广告支出激增推动了其创纪录的收入和利润。</blockquote></p><p> Microsoft Corpgained too, up 1.2%, as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.</p><p><blockquote>微软公司也上涨了 1.2%，因为云服务的繁荣帮助其收入和盈利超出了华尔街的预期。</blockquote></p><p> Fed Chairman Jerome Powell will hold a news conference following the 2 p.m. EDT (1800 GMT) release of the central bank's latest policy statement.</p><p><blockquote>美联储主席杰罗姆·鲍威尔将在美国东部时间下午 2 点（格林尼治标准时间 1800）发布央行最新政策声明后召开新闻发布会。</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> <b>McDonald's(MCD)</b> – The restaurant chain reported adjusted quarterly earnings of $2.37 per share, compared to a $2.11 consensus estimate, with revenue also topping Wall Street forecasts. U.S. same-store sales surged 25.9% while global comps were up 40.5%, both above analyst estimates.</p><p><blockquote><b>麦当劳（MCD）</b>– 该连锁餐厅公布调整后季度收益为每股 2.37 美元，而市场普遍预期为 2.11 美元，收入也超过了华尔街的预测。美国同店销售额飙升 25.9%，全球同店销售额增长 40.5%，均高于分析师预期。</blockquote></p><p> <b>Boeing(BA)</b>– Boeing reported a surprise profit of 40 cents per share, with analysts having anticipated an 83 cents per share loss. Revenue also exceeded estimates, helped by higher jet deliveries and stronger results from the company’s defense and global service operations. Shares rallied 4.6% in the premarket.</p><p><blockquote><b>波音(BA)</b>– 波音公司公布每股利润意外 40 美分，分析师此前预计每股亏损 83 美分。得益于喷气式飞机交付量的增加以及公司国防和全球服务业务业绩的强劲增长，收入也超出了预期。盘前股价上涨 4.6%。</blockquote></p><p> <b>Pfizer(PFE)</b> – Pfizer beat estimates by 10 cents with adjusted quarterly earnings of 97 cents per share, and revenue above estimates as well. The drugmaker also raised its full-year forecast, anticipating continued strong sales of its Covid-19 vaccine.</p><p><blockquote><b>辉瑞(PFE)</b>– 辉瑞公司调整后季度收益为每股 97 美分，超出预期 10 美分，收入也高于预期。该制药商还上调了全年预测，预计其 Covid-19 疫苗将继续强劲销售。</blockquote></p><p> <b>Spotify(SPOT)</b> – Spotify fell 3.2% in the premarket, despite reporting a smaller-than-expected loss for its latest quarter and better-than-expected revenue. The music-streaming service noted that its monthly active user numbers did fall below its prior guidance.</p><p><blockquote><b>Spotify（现货）</b>– Spotify 盘前下跌 3.2%，尽管其最新季度亏损小于预期，收入好于预期。这家音乐流媒体服务指出，其每月活跃用户数量确实低于之前的指导。</blockquote></p><p> <b>Shopify(SHOP)</b> – Shopify rose 1.3% in premarket trading, after reporting adjusted quarterly earnings of $2.24 per share compared to a 97 cent consensus estimate. The e-commerce platform provider continued to benefit from the boom in online shopping.</p><p><blockquote><b>Shopify（商店）</b>– Shopify 在盘前交易中上涨 1.3%，此前公布的调整后季度收益为每股 2.24 美元，而市场普遍预期为 97 美分。该电子商务平台提供商继续受惠于网上购物的繁荣。</blockquote></p><p> <b>Apple(AAPL)</b> – Apple fell 0.7% in premarket trading after warning that the negative impact of the global chip shortage would worsen this quarter. That caution came after Apple reported quarterly earnings of $1.30 per share, beating the $1.01 consensus estimate, and seeing revenue surge past estimates as well.</p><p><blockquote><b>苹果（AAPL）</b>– 苹果在警告称全球芯片短缺的负面影响将在本季度恶化后，在盘前交易中下跌 0.7%。这一警告是在苹果公布季度收益为每股 1.30 美元，超过 1.01 美元的市场普遍预期，并且收入也超出预期之后发布的。</blockquote></p><p> <b>Alphabet(GOOGL)</b> – Alphabet earned $27.26 per share for its latest quarter, well above the $19.34 consensus estimate. Revenue for the Google parent also trounced estimates amid the ongoing surge in online ad spending. Alphabet shares jumped 3.5% in premarket action.</p><p><blockquote><b>Alphabet（GOOGL）</b>– Alphabet最新季度每股收益为 27.26 美元，远高于市场普遍预期的 19.34 美元。由于在线广告支出持续激增，谷歌母公司的收入也超出了预期。Alphabet股价在盘前交易中上涨 3.5%。</blockquote></p><p> <b>Microsoft(MSFT)</b> – Microsoft beat estimates by 25 cents with quarterly earnings of $2.17 per share, while revenue beat estimates as well on continued strong growth in the company’s cloud computing business. Microsoft continues to benefit from the pandemic shift to working and learning from home. Microsoft added 1.2% in premarket trading.</p><p><blockquote><b>微软（MSFT）</b>- 微软的季度收益为每股 2.17 美元，超出预期 25 美分，收入也超出预期，原因是公司云计算业务的持续强劲增长。微软继续受益于疫情向在家工作和学习的转变。微软在盘前交易中上涨 1.2%。</blockquote></p><p> <b>Starbucks(SBUX)</b> – Starbucks earned an adjusted $1.01 per share for its latest quarter, beating the 78 cent consensus estimate, with revenue beating forecasts as well. The coffee chain did say higher costs for labor and supplies could remain for months to come and the stock fell 3% in the premarket.</p><p><blockquote><b>星巴克(SBUX)</b>– 星巴克最新季度调整后每股收益为 1.01 美元，超出 78 美分的市场普遍预期，收入也超出预期。这家咖啡连锁店确实表示，未来几个月劳动力和供应成本上涨可能会持续，该股在盘前下跌 3%。</blockquote></p><p> <b>Visa(V)</b> – Visa came in 14 cents ahead of consensus forecasts with an adjusted quarterly profit of $1.49 per share. The payment network’s revenue topped estimates as well. Visa benefited from the rebound in spending on travel and entertainment, but the stock slid 0.7% in premarket trading.</p><p><blockquote><b>签证(V)</b>– Visa 调整后季度利润为每股 1.49 美元，超出市场普遍预期 14 美分。支付网络的收入也超出了预期。Visa 受益于旅游和娱乐支出的反弹，但该股在盘前交易中下跌 0.7%。</blockquote></p><p> <b>Advanced Micro Devices(AMD)</b> – AMD shares rose 3.1% in premarket action as the chipmaker forecast current-quarter revenue above analyst expectations. It predicts strong demand for chips used in gaming consoles and data centers, following a quarter that saw it beat Street estimates on the top and bottom lines.</p><p><blockquote><b>先进微器件公司（AMD）</b>– AMD 股价在盘前上涨 3.1%，这家芯片制造商预测本季度收入高于分析师预期。该公司预测对游戏机和数据中心使用的芯片的需求强劲，此前该季度的营收和利润均超出了华尔街的预期。</blockquote></p><p> <b>Mattel(MAT)</b> – Mattel beat estimates for its latest quarter, and also raised its full-year forecast. The toymaker is expecting continued strong demand for its Barbie and Hot Wheels brands, even as it plans to raise prices. Shares surged 7% in the premarket.</p><p><blockquote><b>美泰（垫）</b>– 美泰最新季度业绩超出预期，并上调了全年业绩预期。这家玩具制造商预计其芭比娃娃和风火轮品牌的需求将持续强劲，尽管它计划提高价格。盘前股价飙升 7%。</blockquote></p><p></p><p> <b>Teladoc Health(TDOC)</b>– Teladoc lost 86 cents per share for its latest quarter, wider than the 56 cent loss that Wall Street had been expecting. Revenue did beat forecasts, but the stock is under pressure on weaker-than-expected membership growth for the telehealth service provider. The stock tumbled 10% in premarket trading.</p><p><blockquote><b>泰拉多克健康（TDOC）</b>– Teladoc 最新季度每股亏损 86 美分，高于华尔街此前预期的 56 美分亏损。收入确实超出了预期，但由于这家远程医疗服务提供商的会员增长弱于预期，该股面临压力。该股在盘前交易中暴跌 10%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Wednesday<blockquote>周三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 Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-28 20:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><ul>  <li>U.S. Futures Fluctuate</li> </ul> <ul>  <li>investors await the FED's monetary policy decision</li> </ul> U.S. stock index futures were muted on Wednesday after mixed results from large technology and internet giants, with investors awaiting the Federal Reserve's monetary policy decision later in the day.</p><p><blockquote><ul><li>美国期货波动</li></ul><ul><li>投资者等待美联储货币政策决定</li></ul>由于大型科技和互联网巨头的业绩好坏参半，美国股指期货周三表现平静，投资者等待美联储当天晚些时候的货币政策决定。</blockquote></p><p> At 8:00 a.m. ET, Dow e-minis were down 9 points, or 0.03%, S&amp;P 500 e-minis were up 3.50 points, or 0.08%, and Nasdaq 100 e-minis were up 44.00 points, or 0.29%.</p><p><blockquote>美国东部时间上午 8:00，道琼斯电子迷你指数下跌 9 点，跌幅 0.03%，标普500电子迷你指数上涨 3.50 点，跌幅 0.08%，纳斯达克 100 电子迷你指数上涨 44.00 点，跌幅 0.29%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cca0568a32fb294f3bedfa62fbe1f26f\" tg-width=\"1080\" tg-height=\"394\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Apple Inc&nbsp;slipped 0.7% in premarket trading after it forecast slowing revenue growth, as global chip shortage bit into its ability to sell Macs and iPads.read more</p><p><blockquote>由于全球芯片短缺影响了其销售 Mac 和 iPad 的能力，苹果预计收入增长将放缓，该公司在盘前交易中下跌 0.7%。阅读更多</blockquote></p><p> Shares of Google parent Alphabet Inc&nbsp;jumped 3.8% after a surge in advertising spending powered its record revenue and profit.</p><p><blockquote>谷歌母公司Alphabet公司的股价上涨 3.8%，此前广告支出激增推动了其创纪录的收入和利润。</blockquote></p><p> Microsoft Corpgained too, up 1.2%, as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.</p><p><blockquote>微软公司也上涨了 1.2%，因为云服务的繁荣帮助其收入和盈利超出了华尔街的预期。</blockquote></p><p> Fed Chairman Jerome Powell will hold a news conference following the 2 p.m. EDT (1800 GMT) release of the central bank's latest policy statement.</p><p><blockquote>美联储主席杰罗姆·鲍威尔将在美国东部时间下午 2 点（格林尼治标准时间 1800）发布央行最新政策声明后召开新闻发布会。</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> <b>McDonald's(MCD)</b> – The restaurant chain reported adjusted quarterly earnings of $2.37 per share, compared to a $2.11 consensus estimate, with revenue also topping Wall Street forecasts. U.S. same-store sales surged 25.9% while global comps were up 40.5%, both above analyst estimates.</p><p><blockquote><b>麦当劳（MCD）</b>– 该连锁餐厅公布调整后季度收益为每股 2.37 美元，而市场普遍预期为 2.11 美元，收入也超过了华尔街的预测。美国同店销售额飙升 25.9%，全球同店销售额增长 40.5%，均高于分析师预期。</blockquote></p><p> <b>Boeing(BA)</b>– Boeing reported a surprise profit of 40 cents per share, with analysts having anticipated an 83 cents per share loss. Revenue also exceeded estimates, helped by higher jet deliveries and stronger results from the company’s defense and global service operations. Shares rallied 4.6% in the premarket.</p><p><blockquote><b>波音(BA)</b>– 波音公司公布每股利润意外 40 美分，分析师此前预计每股亏损 83 美分。得益于喷气式飞机交付量的增加以及公司国防和全球服务业务业绩的强劲增长，收入也超出了预期。盘前股价上涨 4.6%。</blockquote></p><p> <b>Pfizer(PFE)</b> – Pfizer beat estimates by 10 cents with adjusted quarterly earnings of 97 cents per share, and revenue above estimates as well. The drugmaker also raised its full-year forecast, anticipating continued strong sales of its Covid-19 vaccine.</p><p><blockquote><b>辉瑞(PFE)</b>– 辉瑞公司调整后季度收益为每股 97 美分，超出预期 10 美分，收入也高于预期。该制药商还上调了全年预测，预计其 Covid-19 疫苗将继续强劲销售。</blockquote></p><p> <b>Spotify(SPOT)</b> – Spotify fell 3.2% in the premarket, despite reporting a smaller-than-expected loss for its latest quarter and better-than-expected revenue. The music-streaming service noted that its monthly active user numbers did fall below its prior guidance.</p><p><blockquote><b>Spotify（现货）</b>– Spotify 盘前下跌 3.2%，尽管其最新季度亏损小于预期，收入好于预期。这家音乐流媒体服务指出，其每月活跃用户数量确实低于之前的指导。</blockquote></p><p> <b>Shopify(SHOP)</b> – Shopify rose 1.3% in premarket trading, after reporting adjusted quarterly earnings of $2.24 per share compared to a 97 cent consensus estimate. The e-commerce platform provider continued to benefit from the boom in online shopping.</p><p><blockquote><b>Shopify（商店）</b>– Shopify 在盘前交易中上涨 1.3%，此前公布的调整后季度收益为每股 2.24 美元，而市场普遍预期为 97 美分。该电子商务平台提供商继续受惠于网上购物的繁荣。</blockquote></p><p> <b>Apple(AAPL)</b> – Apple fell 0.7% in premarket trading after warning that the negative impact of the global chip shortage would worsen this quarter. That caution came after Apple reported quarterly earnings of $1.30 per share, beating the $1.01 consensus estimate, and seeing revenue surge past estimates as well.</p><p><blockquote><b>苹果（AAPL）</b>– 苹果在警告称全球芯片短缺的负面影响将在本季度恶化后，在盘前交易中下跌 0.7%。这一警告是在苹果公布季度收益为每股 1.30 美元，超过 1.01 美元的市场普遍预期，并且收入也超出预期之后发布的。</blockquote></p><p> <b>Alphabet(GOOGL)</b> – Alphabet earned $27.26 per share for its latest quarter, well above the $19.34 consensus estimate. Revenue for the Google parent also trounced estimates amid the ongoing surge in online ad spending. Alphabet shares jumped 3.5% in premarket action.</p><p><blockquote><b>Alphabet（GOOGL）</b>– Alphabet最新季度每股收益为 27.26 美元，远高于市场普遍预期的 19.34 美元。由于在线广告支出持续激增，谷歌母公司的收入也超出了预期。Alphabet股价在盘前交易中上涨 3.5%。</blockquote></p><p> <b>Microsoft(MSFT)</b> – Microsoft beat estimates by 25 cents with quarterly earnings of $2.17 per share, while revenue beat estimates as well on continued strong growth in the company’s cloud computing business. Microsoft continues to benefit from the pandemic shift to working and learning from home. Microsoft added 1.2% in premarket trading.</p><p><blockquote><b>微软（MSFT）</b>- 微软的季度收益为每股 2.17 美元，超出预期 25 美分，收入也超出预期，原因是公司云计算业务的持续强劲增长。微软继续受益于疫情向在家工作和学习的转变。微软在盘前交易中上涨 1.2%。</blockquote></p><p> <b>Starbucks(SBUX)</b> – Starbucks earned an adjusted $1.01 per share for its latest quarter, beating the 78 cent consensus estimate, with revenue beating forecasts as well. The coffee chain did say higher costs for labor and supplies could remain for months to come and the stock fell 3% in the premarket.</p><p><blockquote><b>星巴克(SBUX)</b>– 星巴克最新季度调整后每股收益为 1.01 美元，超出 78 美分的市场普遍预期，收入也超出预期。这家咖啡连锁店确实表示，未来几个月劳动力和供应成本上涨可能会持续，该股在盘前下跌 3%。</blockquote></p><p> <b>Visa(V)</b> – Visa came in 14 cents ahead of consensus forecasts with an adjusted quarterly profit of $1.49 per share. The payment network’s revenue topped estimates as well. Visa benefited from the rebound in spending on travel and entertainment, but the stock slid 0.7% in premarket trading.</p><p><blockquote><b>签证(V)</b>– Visa 调整后季度利润为每股 1.49 美元，超出市场普遍预期 14 美分。支付网络的收入也超出了预期。Visa 受益于旅游和娱乐支出的反弹，但该股在盘前交易中下跌 0.7%。</blockquote></p><p> <b>Advanced Micro Devices(AMD)</b> – AMD shares rose 3.1% in premarket action as the chipmaker forecast current-quarter revenue above analyst expectations. It predicts strong demand for chips used in gaming consoles and data centers, following a quarter that saw it beat Street estimates on the top and bottom lines.</p><p><blockquote><b>先进微器件公司（AMD）</b>– AMD 股价在盘前上涨 3.1%，这家芯片制造商预测本季度收入高于分析师预期。该公司预测对游戏机和数据中心使用的芯片的需求强劲，此前该季度的营收和利润均超出了华尔街的预期。</blockquote></p><p> <b>Mattel(MAT)</b> – Mattel beat estimates for its latest quarter, and also raised its full-year forecast. The toymaker is expecting continued strong demand for its Barbie and Hot Wheels brands, even as it plans to raise prices. Shares surged 7% in the premarket.</p><p><blockquote><b>美泰（垫）</b>– 美泰最新季度业绩超出预期，并上调了全年业绩预期。这家玩具制造商预计其芭比娃娃和风火轮品牌的需求将持续强劲，尽管它计划提高价格。盘前股价飙升 7%。</blockquote></p><p></p><p> <b>Teladoc Health(TDOC)</b>– Teladoc lost 86 cents per share for its latest quarter, wider than the 56 cent loss that Wall Street had been expecting. Revenue did beat forecasts, but the stock is under pressure on weaker-than-expected membership growth for the telehealth service provider. The stock tumbled 10% in premarket trading.</p><p><blockquote><b>泰拉多克健康（TDOC）</b>– Teladoc 最新季度每股亏损 86 美分，高于华尔街此前预期的 56 美分亏损。收入确实超出了预期，但由于这家远程医疗服务提供商的会员增长弱于预期，该股面临压力。该股在盘前交易中暴跌 10%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞","BA":"波音","MCD":"麦当劳","MSFT":"微软","SPOT":"Spotify Technology S.A.","AMD":"美国超微公司","TDOC":"Teladoc Health Inc.","MAT":"美国美泰公司",".DJI":"道琼斯","V":"Visa",".IXIC":"NASDAQ Composite","SBUX":"星巴克",".SPX":"S&P 500 Index","GOOGL":"谷歌A","SHOP":"Shopify Inc","AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183056441","content_text":"U.S. Futures Fluctuate\n\n\ninvestors await the FED's monetary policy decision\n\nU.S. stock index futures were muted on Wednesday after mixed results from large technology and internet giants, with investors awaiting the Federal Reserve's monetary policy decision later in the day.\nAt 8:00 a.m. ET, Dow e-minis were down 9 points, or 0.03%, S&P 500 e-minis were up 3.50 points, or 0.08%, and Nasdaq 100 e-minis were up 44.00 points, or 0.29%.\n\nApple Inc slipped 0.7% in premarket trading after it forecast slowing revenue growth, as global chip shortage bit into its ability to sell Macs and iPads.read more\nShares of Google parent Alphabet Inc jumped 3.8% after a surge in advertising spending powered its record revenue and profit.\nMicrosoft Corpgained too, up 1.2%, as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.\nFed Chairman Jerome Powell will hold a news conference following the 2 p.m. EDT (1800 GMT) release of the central bank's latest policy statement.\nStocks making the biggest moves premarket:\nMcDonald's(MCD) – The restaurant chain reported adjusted quarterly earnings of $2.37 per share, compared to a $2.11 consensus estimate, with revenue also topping Wall Street forecasts. U.S. same-store sales surged 25.9% while global comps were up 40.5%, both above analyst estimates.\nBoeing(BA)– Boeing reported a surprise profit of 40 cents per share, with analysts having anticipated an 83 cents per share loss. Revenue also exceeded estimates, helped by higher jet deliveries and stronger results from the company’s defense and global service operations. Shares rallied 4.6% in the premarket.\nPfizer(PFE) – Pfizer beat estimates by 10 cents with adjusted quarterly earnings of 97 cents per share, and revenue above estimates as well. The drugmaker also raised its full-year forecast, anticipating continued strong sales of its Covid-19 vaccine.\nSpotify(SPOT) – Spotify fell 3.2% in the premarket, despite reporting a smaller-than-expected loss for its latest quarter and better-than-expected revenue. The music-streaming service noted that its monthly active user numbers did fall below its prior guidance.\nShopify(SHOP) – Shopify rose 1.3% in premarket trading, after reporting adjusted quarterly earnings of $2.24 per share compared to a 97 cent consensus estimate. The e-commerce platform provider continued to benefit from the boom in online shopping.\nApple(AAPL) – Apple fell 0.7% in premarket trading after warning that the negative impact of the global chip shortage would worsen this quarter. That caution came after Apple reported quarterly earnings of $1.30 per share, beating the $1.01 consensus estimate, and seeing revenue surge past estimates as well.\nAlphabet(GOOGL) – Alphabet earned $27.26 per share for its latest quarter, well above the $19.34 consensus estimate. Revenue for the Google parent also trounced estimates amid the ongoing surge in online ad spending. Alphabet shares jumped 3.5% in premarket action.\nMicrosoft(MSFT) – Microsoft beat estimates by 25 cents with quarterly earnings of $2.17 per share, while revenue beat estimates as well on continued strong growth in the company’s cloud computing business. Microsoft continues to benefit from the pandemic shift to working and learning from home. Microsoft added 1.2% in premarket trading.\nStarbucks(SBUX) – Starbucks earned an adjusted $1.01 per share for its latest quarter, beating the 78 cent consensus estimate, with revenue beating forecasts as well. The coffee chain did say higher costs for labor and supplies could remain for months to come and the stock fell 3% in the premarket.\nVisa(V) – Visa came in 14 cents ahead of consensus forecasts with an adjusted quarterly profit of $1.49 per share. The payment network’s revenue topped estimates as well. Visa benefited from the rebound in spending on travel and entertainment, but the stock slid 0.7% in premarket trading.\nAdvanced Micro Devices(AMD) – AMD shares rose 3.1% in premarket action as the chipmaker forecast current-quarter revenue above analyst expectations. It predicts strong demand for chips used in gaming consoles and data centers, following a quarter that saw it beat Street estimates on the top and bottom lines.\nMattel(MAT) – Mattel beat estimates for its latest quarter, and also raised its full-year forecast. The toymaker is expecting continued strong demand for its Barbie and Hot Wheels brands, even as it plans to raise prices. Shares surged 7% in the premarket.\nTeladoc Health(TDOC)– Teladoc lost 86 cents per share for its latest quarter, wider than the 56 cent loss that Wall Street had been expecting. Revenue did beat forecasts, but the stock is under pressure on weaker-than-expected membership growth for the telehealth service provider. The stock tumbled 10% in premarket trading.","news_type":1,"symbols_score_info":{"GOOGL":0.9,"NQmain":0.9,"MAT":0.9,"SHOP":0.9,"ESmain":0.9,"MCD":0.9,".DJI":0.9,"SBUX":0.9,"BA":0.9,"V":0.9,"MSFT":0.9,"PFE":0.9,"SPOT":0.9,"AAPL":0.9,"AMD":0.9,"YMmain":0.9,".SPX":0.9,".IXIC":0.9,"TDOC":0.9}},"isVote":1,"tweetType":1,"viewCount":462,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834210899,"gmtCreate":1629805677711,"gmtModify":1631885193408,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Gogo","listText":"Gogo","text":"Gogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/834210899","repostId":"1194470972","repostType":4,"repost":{"id":"1194470972","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":1629804284,"share":"https://www.laohunote.com/m/news/1194470972?lang=zh_CN&edition=full","pubTime":"2021-08-24 19:24","market":"us","language":"en","title":"China's Pinduoduo misses quarterly revenue expectations<blockquote>中国拼多多未达季度收入预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194470972","media":"Tiger Newspress","summary":"Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.Total revenue was 23.05 billion yuan in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.Total revenues in the quarter were RMB23,046.2 million, an increase of 89% from RMB12,193.3 millio","content":"<p>Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.</p><p><blockquote>中国电子商务平台拼多多周二的季度收入未达华尔街预期，受到阿里巴巴-SW和京东等大型竞争对手的激烈竞争，以利用疫情推动的在线购物激增。</blockquote></p><p> Total revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.</p><p><blockquote>截至 6 月 30 日的第二季度总收入为 230.5 亿元人民币（35.6 亿美元）。根据路孚特的 IBES 数据，分析师平均预期营收为 264.4 亿元人民币。</blockquote></p><p> <a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">Q2 2021 Pinduoduo Inc Earnings Conference Call</a></p><p><blockquote><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">2021 年第二季度拼多多公司收益电话会议</a></blockquote></p><p> <b>Second Quarter 2021 Highlights</b></p><p><blockquote><b>2021 年第二季度亮点</b></blockquote></p><p> <ul>  <li><b>Total revenues</b>&nbsp;in the quarter were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% from&nbsp;RMB12,193.3 millionin the same quarter of 2020.</li>  <li><b>Average monthly active users</b>&nbsp;in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.</li>  <li><b>Active buyers</b>&nbsp;in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.</li>  <li><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP&nbsp;operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</li> </ul> Pinduoduo&nbsp;shares&nbsp;were back to $84.01, up 3.6%.</p><p><blockquote><ul><li><b>收入总额</b>本季度营业额为人民币230.462亿元（35.694亿美元），较2020年同季度的人民币121.933亿元增长89%。</li><li><b>平均月活跃用户</b>本季度为 7.385 亿美元，比 2020 年同季度的 5.688 亿美元增长 30%。</li><li><b>活跃买家</b>截至2021年6月30日止12个月期间为8.499亿美元，较截至2020年6月30日止12个月期间的6.832亿美元增长24%。</li><li><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</li><li><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</li></ul>拼多多股价回升至 84.01 美元，上涨 3.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef551e259866b07f824d1785781e3b7\" tg-width=\"892\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> “Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”</p><p><blockquote>“农业长期以来一直是拼多多企业使命和战略的核心，我们今天宣布的'百亿农业计划'是我们深化对农业现代化和乡村振兴支持的一种方式，”将负责监督该计划的拼多多董事长兼首席执行官陈磊说。“投资农业对每个人都有好处，因为农业是粮食安全和质量、公共健康和环境可持续性的纽带”。</blockquote></p><p> “We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”</p><p><blockquote>“我们在本季度继续保持强劲的执行力。2021 年第二季度，我们的总收入（不包括商品销售的贡献）比上年同期增长了 73%，”拼多多财务副总裁 Tony Ma 说。“农业仍然是我们的战略重点，我们致力于耐心和持续地投资农业。”</blockquote></p><p> <b>Second Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第二季度未经审计财务业绩</b></blockquote></p><p> <b>Total revenues</b>&nbsp;were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.</p><p><blockquote><b>收入总额</b>为人民币23,046.2百万元（3,569.4百万美元），较2020年同季度的人民币12,193.3百万元增长89%。该增加主要是由于在线营销服务收入增加所致。</blockquote></p><p> <ul>  <li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.</li>  <li><b>Revenues from transaction services</b>&nbsp;were&nbsp;RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.</li>  <li><b>Revenues from merchandise sales</b>&nbsp;were&nbsp;RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.</li> </ul> <b>Total costs of revenues</b>&nbsp;were&nbsp;RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.</p><p><blockquote><ul><li><b>来自在线营销服务及其他的收入</b>为人民币18,080.4百万元（2,800.3百万美元），较2020年同季度的人民币11,054.7百万元增长64%。</li><li><b>交易服务收入</b>为人民币30.076亿元（4.658亿美元），较2020年同季度的人民币11.386亿元增长164%。</li><li><b>商品销售收入</b>为人民币1,958.2百万元（3.033亿美元），较2020年同一季度的零增加人民币1,958.2百万元。</li></ul><b>收入总成本</b>为人民币78.979亿元（12.232亿美元），较2020年同一季度的人民币26.621亿元增长197%。该增加主要由于商品销售应占成本、支付处理费、云服务费以及交付和仓储费成本上升所致。</blockquote></p><p> <b>Total operating expenses</b>&nbsp;were&nbsp;RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.</p><p><blockquote><b>营运开支总额</b>为人民币13,150.9百万元（2,036.8百万美元），而2020年同季度为人民币111,170.8百万元。</blockquote></p><p></p><p> <ul>  <li><b>Sales and marketing expenses</b>&nbsp;were&nbsp;RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.</li>  <li><b>General and administrative expenses</b>&nbsp;were&nbsp;RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.</li>  <li><b>Research and development expenses</b>&nbsp;were&nbsp;RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li> </ul> <b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</p><p><blockquote><ul><li><b>销售及市场推广开支</b>为人民币10,387.9百万元（1,608.9百万美元），较二零二零年同季度的人民币9,113.6百万元增长14%，主要由于促销及优惠券开支增加所致。</li><li><b>一般及行政开支</b>为人民币4.342亿元（6720万美元），较2020年同季度的人民币3.948亿元增长10%。</li><li><b>研发开支</b>为人民币2,328.8百万元（3.607亿美元），较2020年同一季度的人民币1,662.4百万元增长40%。该增加主要由于员工人数增加及招聘更多经验丰富的研发人员以及研发相关云服务开支增加所致。</li></ul><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</blockquote></p><p> <b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</p><p><blockquote><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</blockquote></p><p> <b>Basic earnings per ADS</b>&nbsp;was&nbsp;RMB1.93(US$0.30) and&nbsp;<b>diluted earnings per ADS</b>&nbsp;was&nbsp;RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.<b>Non-GAAP diluted earnings per ADS</b>&nbsp;was&nbsp;RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.</p><p><blockquote><b>每股广告基本收益</b>为人民币1.93元（0.30美元）及<b>每股美国存托凭证摊薄收益</b>为人民币 1.69 元（0.27 美元），而 2020 年同季度每股美国存托凭证的基本和摊薄净亏损为人民币 0.75 元。<b>非 GAAP 稀释每股 ADS 收益</b>为人民币 2.85 元（0.44 美元），而 2020 年同季度非 GAAP 摊薄每股美国存托凭证净亏损为人民币 0.06 元。</blockquote></p><p> <b>Net cash flow provided by operating activities</b>&nbsp;was&nbsp;RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.</p><p><blockquote><b>经营活动提供的现金流量净额</b>营业额为人民币 7,371.2 百万元（1,141.7 百万美元），而 2020 年同季度为人民币 5,495.3 百万元，主要由于在线营销服务收入增加。</blockquote></p><p> <b>Cash, cash equivalents and short-term investments</b>were&nbsp;RMB&nbsp;92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.</p><p><blockquote><b>现金、现金等价物及短期投资</b>截至2021年6月30日为人民币922亿元（143亿美元），而截至2020年12月31日为人民币870亿元。</blockquote></p><p> <b>Recent Development</b></p><p><blockquote><b>近期发展</b></blockquote></p><p> As ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.</p><p><blockquote>截至2021年7月31日，2024年到期的0%可换股债券中的7.737亿美元已转换为新发行的美国存托凭证。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nChina's Pinduoduo misses quarterly revenue expectations<blockquote>中国拼多多未达季度收入预期</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\">2021-08-24 19:24</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.</p><p><blockquote>中国电子商务平台拼多多周二的季度收入未达华尔街预期，受到阿里巴巴-SW和京东等大型竞争对手的激烈竞争，以利用疫情推动的在线购物激增。</blockquote></p><p> Total revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.</p><p><blockquote>截至 6 月 30 日的第二季度总收入为 230.5 亿元人民币（35.6 亿美元）。根据路孚特的 IBES 数据，分析师平均预期营收为 264.4 亿元人民币。</blockquote></p><p> <a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">Q2 2021 Pinduoduo Inc Earnings Conference Call</a></p><p><blockquote><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">2021 年第二季度拼多多公司收益电话会议</a></blockquote></p><p> <b>Second Quarter 2021 Highlights</b></p><p><blockquote><b>2021 年第二季度亮点</b></blockquote></p><p> <ul>  <li><b>Total revenues</b>&nbsp;in the quarter were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% from&nbsp;RMB12,193.3 millionin the same quarter of 2020.</li>  <li><b>Average monthly active users</b>&nbsp;in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.</li>  <li><b>Active buyers</b>&nbsp;in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.</li>  <li><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP&nbsp;operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</li> </ul> Pinduoduo&nbsp;shares&nbsp;were back to $84.01, up 3.6%.</p><p><blockquote><ul><li><b>收入总额</b>本季度营业额为人民币230.462亿元（35.694亿美元），较2020年同季度的人民币121.933亿元增长89%。</li><li><b>平均月活跃用户</b>本季度为 7.385 亿美元，比 2020 年同季度的 5.688 亿美元增长 30%。</li><li><b>活跃买家</b>截至2021年6月30日止12个月期间为8.499亿美元，较截至2020年6月30日止12个月期间的6.832亿美元增长24%。</li><li><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</li><li><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</li></ul>拼多多股价回升至 84.01 美元，上涨 3.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef551e259866b07f824d1785781e3b7\" tg-width=\"892\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> “Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”</p><p><blockquote>“农业长期以来一直是拼多多企业使命和战略的核心，我们今天宣布的'百亿农业计划'是我们深化对农业现代化和乡村振兴支持的一种方式，”将负责监督该计划的拼多多董事长兼首席执行官陈磊说。“投资农业对每个人都有好处，因为农业是粮食安全和质量、公共健康和环境可持续性的纽带”。</blockquote></p><p> “We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”</p><p><blockquote>“我们在本季度继续保持强劲的执行力。2021 年第二季度，我们的总收入（不包括商品销售的贡献）比上年同期增长了 73%，”拼多多财务副总裁 Tony Ma 说。“农业仍然是我们的战略重点，我们致力于耐心和持续地投资农业。”</blockquote></p><p> <b>Second Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第二季度未经审计财务业绩</b></blockquote></p><p> <b>Total revenues</b>&nbsp;were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.</p><p><blockquote><b>收入总额</b>为人民币23,046.2百万元（3,569.4百万美元），较2020年同季度的人民币12,193.3百万元增长89%。该增加主要是由于在线营销服务收入增加所致。</blockquote></p><p> <ul>  <li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.</li>  <li><b>Revenues from transaction services</b>&nbsp;were&nbsp;RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.</li>  <li><b>Revenues from merchandise sales</b>&nbsp;were&nbsp;RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.</li> </ul> <b>Total costs of revenues</b>&nbsp;were&nbsp;RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.</p><p><blockquote><ul><li><b>来自在线营销服务及其他的收入</b>为人民币18,080.4百万元（2,800.3百万美元），较2020年同季度的人民币11,054.7百万元增长64%。</li><li><b>交易服务收入</b>为人民币30.076亿元（4.658亿美元），较2020年同季度的人民币11.386亿元增长164%。</li><li><b>商品销售收入</b>为人民币1,958.2百万元（3.033亿美元），较2020年同一季度的零增加人民币1,958.2百万元。</li></ul><b>收入总成本</b>为人民币78.979亿元（12.232亿美元），较2020年同一季度的人民币26.621亿元增长197%。该增加主要由于商品销售应占成本、支付处理费、云服务费以及交付和仓储费成本上升所致。</blockquote></p><p> <b>Total operating expenses</b>&nbsp;were&nbsp;RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.</p><p><blockquote><b>营运开支总额</b>为人民币13,150.9百万元（2,036.8百万美元），而2020年同季度为人民币111,170.8百万元。</blockquote></p><p></p><p> <ul>  <li><b>Sales and marketing expenses</b>&nbsp;were&nbsp;RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.</li>  <li><b>General and administrative expenses</b>&nbsp;were&nbsp;RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.</li>  <li><b>Research and development expenses</b>&nbsp;were&nbsp;RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li> </ul> <b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</p><p><blockquote><ul><li><b>销售及市场推广开支</b>为人民币10,387.9百万元（1,608.9百万美元），较二零二零年同季度的人民币9,113.6百万元增长14%，主要由于促销及优惠券开支增加所致。</li><li><b>一般及行政开支</b>为人民币4.342亿元（6720万美元），较2020年同季度的人民币3.948亿元增长10%。</li><li><b>研发开支</b>为人民币2,328.8百万元（3.607亿美元），较2020年同一季度的人民币1,662.4百万元增长40%。该增加主要由于员工人数增加及招聘更多经验丰富的研发人员以及研发相关云服务开支增加所致。</li></ul><b>营业溢利</b>该季度的运营亏损为人民币 19.975 亿元（3.094 亿美元），而 2020 年同季度的运营亏损为人民币 16.396 亿元。<b>非 GAAP 营业利润</b>本季度亏损为人民币 31.852 亿元（4.933 亿美元），而 2020 年同季度非 GAAP 运营亏损为人民币 7.251 亿元。</blockquote></p><p> <b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</p><p><blockquote><b>归属于普通股股东的净利润</b>本季度净亏损为人民币24.146亿元（3.74亿美元），而2020年同季度净亏损为人民币8.993亿元。<b>非公认会计准则归属于普通股股东的净利润</b>本季度净亏损为人民币 41.253 亿元（6.389 亿美元），而 2020 年同季度非 GAAP 净亏损为人民币 7,720 万元。</blockquote></p><p> <b>Basic earnings per ADS</b>&nbsp;was&nbsp;RMB1.93(US$0.30) and&nbsp;<b>diluted earnings per ADS</b>&nbsp;was&nbsp;RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.<b>Non-GAAP diluted earnings per ADS</b>&nbsp;was&nbsp;RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.</p><p><blockquote><b>每股广告基本收益</b>为人民币1.93元（0.30美元）及<b>每股美国存托凭证摊薄收益</b>为人民币 1.69 元（0.27 美元），而 2020 年同季度每股美国存托凭证的基本和摊薄净亏损为人民币 0.75 元。<b>非 GAAP 稀释每股 ADS 收益</b>为人民币 2.85 元（0.44 美元），而 2020 年同季度非 GAAP 摊薄每股美国存托凭证净亏损为人民币 0.06 元。</blockquote></p><p> <b>Net cash flow provided by operating activities</b>&nbsp;was&nbsp;RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.</p><p><blockquote><b>经营活动提供的现金流量净额</b>营业额为人民币 7,371.2 百万元（1,141.7 百万美元），而 2020 年同季度为人民币 5,495.3 百万元，主要由于在线营销服务收入增加。</blockquote></p><p> <b>Cash, cash equivalents and short-term investments</b>were&nbsp;RMB&nbsp;92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.</p><p><blockquote><b>现金、现金等价物及短期投资</b>截至2021年6月30日为人民币922亿元（143亿美元），而截至2020年12月31日为人民币870亿元。</blockquote></p><p> <b>Recent Development</b></p><p><blockquote><b>近期发展</b></blockquote></p><p> As ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.</p><p><blockquote>截至2021年7月31日，2024年到期的0%可换股债券中的7.737亿美元已转换为新发行的美国存托凭证。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194470972","content_text":"Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.\nTotal revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.\nQ2 2021 Pinduoduo Inc Earnings Conference Call\nSecond Quarter 2021 Highlights\n\nTotal revenues in the quarter were RMB23,046.2 million(US$3,569.4 million), an increase of 89% from RMB12,193.3 millionin the same quarter of 2020.\nAverage monthly active users in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.\nActive buyers in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.\nOperating profit in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.Non-GAAP operating profit in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.\nNet income attributable to ordinary shareholders in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.Non-GAAP net income attributable to ordinary shareholders in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.\n\nPinduoduo shares were back to $84.01, up 3.6%.\n\n“Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”\n“We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”\nSecond Quarter 2021 Unaudited Financial Results\nTotal revenues were RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.\n\nRevenues from online marketing services and others were RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.\nRevenues from transaction services were RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.\nRevenues from merchandise sales were RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.\n\nTotal costs of revenues were RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.\nTotal operating expenses were RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.\n\nSales and marketing expenses were RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.\nGeneral and administrative expenses were RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.\nResearch and development expenses were RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&D personnel and an increase in R&D-related cloud services expenses.\n\nOperating profit in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.Non-GAAP operating profit in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.\nNet income attributable to ordinary shareholders in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.Non-GAAP net income attributable to ordinary shareholders in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.\nBasic earnings per ADS was RMB1.93(US$0.30) and diluted earnings per ADS was RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.Non-GAAP diluted earnings per ADS was RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.\nNet cash flow provided by operating activities was RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.\nCash, cash equivalents and short-term investmentswere RMB 92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.\nRecent Development\nAs ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.","news_type":1,"symbols_score_info":{"PDD":0.9}},"isVote":1,"tweetType":1,"viewCount":826,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812276131,"gmtCreate":1630592519823,"gmtModify":1631891507885,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/812276131","repostId":"2164411840","repostType":4,"isVote":1,"tweetType":1,"viewCount":751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899191873,"gmtCreate":1628166901792,"gmtModify":1633753018468,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/899191873","repostId":"1162240698","repostType":2,"repost":{"id":"1162240698","kind":"news","pubTimestamp":1628163800,"share":"https://www.laohunote.com/m/news/1162240698?lang=zh_CN&edition=full","pubTime":"2021-08-05 19:43","market":"us","language":"en","title":"10 stocks that have what it takes to be a ‘perfect’ company<blockquote>10 只股票具备成为“完美”公司的条件</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162240698","media":"MarketWatch","summary":"Strong leadership, smart acquisitions, and a sense of place and purpose are part of a winning combin","content":"<p>  <b>Strong leadership, smart acquisitions, and a sense of place and purpose are part of a winning combination.</b>  My recent column describing&nbsp;the “perfect company”&nbsp;elicited several nominees from readers. They’re worth sharing and may even provide the basis for constructing a portfolio.</p><p><blockquote><b>强有力的领导、明智的收购以及位置感和目标感是成功组合的一部分。</b>我最近撰写的描述 “完美公司 ”的专栏文章引起了读者的几位提名。它们值得分享，甚至可以为构建投资组合提供基础。</blockquote></p><p> As a recap, a colleague once defined the perfect company as requiring no incremental capital, yielding functionally infinite returns, and maintaining a long-term view. The perfect company’s leader must excel at allocating capital, chiefly through serial acquisitions of businesses thereafter managed in a decentralized structure based on trust.</p><p><blockquote>回顾一下，一位同事曾经将完美的公司定义为不需要增量资本，产生功能上无限的回报，并保持长远的眼光。一个完美的公司领导者必须善于分配资本，主要是通过一系列收购企业，然后在基于信任的分散结构中进行管理。</blockquote></p><p> Acknowledging that such companies are rare, readers suggested numerous examples. These 10, listed below in alphabetical order, were mentioned multiple times:</p><p><blockquote>承认这样的公司很少见，读者提出了许多例子。下面按字母顺序排列的这10个例子被多次提及：</blockquote></p><p> <ul>  <li>1. <a href=\"https://laohu8.com/S/ADBE\">Adobe</a> ADBE,+0.71%</li>  <li>2. <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> (Google) GOOGL,-0.37%</li>  <li>3. <a href=\"https://laohu8.com/S/BRK.A\">Berkshire Hathaway</a> BRK.A,-0.88%&nbsp;BRK.B,-1.07%</li>  <li>4. <a href=\"https://laohu8.com/S/STZ\">Constellation</a> Brands STZ,-0.88%</li>  <li>5. <a href=\"https://laohu8.com/S/DHR\">Danaher</a> DHR,+1.09%</li>  <li>6. Fairfax Financial Holdings FFH,+4.70%</li>  <li>7. <a href=\"https://laohu8.com/S/ITW\">Illinois Tool</a> Works ITW,-1.31%</li>  <li>8. Johnson &amp; Johnson JNJ,-0.59%</li>  <li>9. <a href=\"https://laohu8.com/S/MKL\">Markel</a> MKL,+0.30%</li>  <li>10. <a href=\"https://laohu8.com/S/ROP\">Roper</a> Technologies ROP,-0.44%</li> </ul> These companies operate in industries generally requiring zero or modest incremental capital — insurance, sciences, technology and software.&nbsp; That meets the first hurdle.</p><p><blockquote><ul><li>1.<a href=\"https://laohu8.com/S/ADBE\">土坯</a>ADBE，+0.71%</li><li>2.<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>（谷歌）GOOGL，-0.37%</li><li>3.<a href=\"https://laohu8.com/S/BRK.A\">伯克希尔哈撒韦公司</a>BRK.A，-0.88% BRK.B，-1.07%</li><li>4.<a href=\"https://laohu8.com/S/STZ\">星座</a>品牌 STZ,-0.88%</li><li>5.<a href=\"https://laohu8.com/S/DHR\">丹纳赫</a>DHR，+1.09%</li><li>6. 费尔法克斯金融控股公司 FFH，+4.70%</li><li>7.<a href=\"https://laohu8.com/S/ITW\">伊利诺伊工具</a>工程 ITW，-1.31%</li><li>8. 强生JNJ，-0.59%</li><li>9.<a href=\"https://laohu8.com/S/MKL\">马克尔</a>MKL，+0.30%</li><li>10.<a href=\"https://laohu8.com/S/ROP\">罗珀</a>技术 ROP,-0.44%</li></ul>这些公司所在的行业通常不需要增量资本或适度增量资本——保险、科学、技术和软件。这满足了第一个障碍。</blockquote></p><p> Their leadership is strong, often iconic, and certainly long-term. Berkshire’s Warren Buffett, <a href=\"https://laohu8.com/S/STZ.B\">Constellation</a>’s Mark Leonard, and Fairfax’s Prem Watsa have personified their companies for decades, and all developed a deep bench of like-minded managers.&nbsp; A succession of impressive leaders has run all the others, such as the Rales brothers at Danaher and the Markel family at their eponymous company.</p><p><blockquote>他们的领导是强大的，通常是标志性的，当然也是长期的。伯克希尔的沃伦·巴菲特，<a href=\"https://laohu8.com/S/STZ.B\">星座</a>几十年来，费尔法克斯公司的马克-伦纳德（Mark Leonard）和费尔法克斯公司的普雷姆-瓦特萨（Prem Watsa）一直是各自公司的化身，他们都培养了一批志同道合的管理者。其他所有公司都由一连串令人印象深刻的领导者管理，比如丹纳赫公司的拉莱斯兄弟和同名公司的马克尔家族。</blockquote></p><p> Acquisition discipline is evidenced by high returns on capital deployed, the companies’ opportunistic character, and their relative obscurity.&nbsp; As for the latter, only a few of the thousands of acquisitions made by these 10 companies are marquee names on the order of Adobe’s Photoshop, <a href=\"https://laohu8.com/S/GOOGL\">Alphabet</a>’s YouTube, or Berkshire’s Dairy Queen.&nbsp; Most people haven’t heard of the majority of the businesses these companies have acquired.&nbsp; ISCAR, Pall, Quipp, Vertafore anyone?</p><p><blockquote>收购纪律体现在高资本回报率、公司的机会主义性质以及相对默默无闻上。至于后者，在这 10 家公司进行的数千起收购中，只有少数是 Adobe 的 Photoshop、<a href=\"https://laohu8.com/S/GOOGL\">Alphabet</a>YouTube，或伯克希尔的乳制品女王。大多数人都没听说过这些公司收购的大部分企业。ISCAR、Pall、Quipp、Vertafore 还有谁？</blockquote></p><p> Acquisition frequency and scale vary. Constellation, for example, has made hundreds of small acquisitions while Illinois Tool Works has made perhaps 1,000. Adobe, Danaher, Fairfax, and Markel have made dozens or scores of purchases, some of considerable size. The others are all over the map in number and sizes. One thing these investors have in common is that they wait for their pitch.</p><p><blockquote>采集频率和规模各不相同。例如，Constellation 已经进行了数百次小型收购，而 Illinois Tool Works 则进行了大约 1,000 次收购。Adobe、Danaher、Fairfax 和 Markel 已经进行了数十次或数十次收购，其中一些规模相当大。其他的在数量和大小上遍布地图。这些投资者有一个共同点，那就是他们等待推销。</blockquote></p><p> All of these companies are organized along decentralized lines. Headquarters delegates substantial autonomy to the heads of the various businesses. Trust permeates their cultures.</p><p><blockquote>所有这些公司都是按照分散的路线组织起来的。总部将大量自主权授予各业务负责人。信任渗透到他们的文化中。</blockquote></p><p> The data back up the impressions. For instance, these companies repeatedly lead the pack in rankings of attributes of the perfect company, such as&nbsp;capital allocation prowess&nbsp;and&nbsp;decentralized trust-based cultures.</p><p><blockquote>数据支持印象。例如，这些公司在完美公司的属性排名中一再领先，如资本配置能力和分散的基于信任的文化。</blockquote></p><p> They are also notable for the&nbsp;longevity of their leadership&nbsp;and insider ownership of the stock (especially by directors, suggesting they “get” the perfect company).</p><p><blockquote>他们还以长期的领导力和内部持股而闻名（尤其是董事，这表明他们 “得到 ”了完美的公司）。</blockquote></p><p> Not coincidentally, all 10 companies&nbsp;rank high in attracting&nbsp;long-term focused (“quality”) shareholders. They also rank high in the caliber of their&nbsp;shareholder communications — a logical add-on of the perfect company from the shareholders’ viewpoint.</p><p><blockquote>并非巧合的是，所有 10 家公司在吸引长期专注（“优质 ”）股东方面都排名靠前。他们的股东沟通水平也很高--从股东的角度来看，这是一家完美公司的合乎逻辑的附加物。</blockquote></p><p> In short, readers have helpfully identified “perfect companies” in the sense my colleague described.&nbsp; Whether these companies are perfect investments depends on their prevailing stock price.&nbsp; But they certainly warrant a close look.</p><p><blockquote>简而言之，读者们对我的同事所描述的 “完美公司”很有帮助。这些公司是否是完美的投资取决于它们的当前股价。但它们当然值得仔细研究。</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>10 stocks that have what it takes to be a ‘perfect’ company<blockquote>10 只股票具备成为“完美”公司的条件</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\">\n10 stocks that have what it takes to be a ‘perfect’ company<blockquote>10 只股票具备成为“完美”公司的条件</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-05 19:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Strong leadership, smart acquisitions, and a sense of place and purpose are part of a winning combination.</b>  My recent column describing&nbsp;the “perfect company”&nbsp;elicited several nominees from readers. They’re worth sharing and may even provide the basis for constructing a portfolio.</p><p><blockquote><b>强有力的领导、明智的收购以及位置感和目标感是成功组合的一部分。</b>我最近撰写的描述 “完美公司 ”的专栏文章引起了读者的几位提名。它们值得分享，甚至可以为构建投资组合提供基础。</blockquote></p><p> As a recap, a colleague once defined the perfect company as requiring no incremental capital, yielding functionally infinite returns, and maintaining a long-term view. The perfect company’s leader must excel at allocating capital, chiefly through serial acquisitions of businesses thereafter managed in a decentralized structure based on trust.</p><p><blockquote>回顾一下，一位同事曾经将完美的公司定义为不需要增量资本，产生功能上无限的回报，并保持长远的眼光。一个完美的公司领导者必须善于分配资本，主要是通过一系列收购企业，然后在基于信任的分散结构中进行管理。</blockquote></p><p> Acknowledging that such companies are rare, readers suggested numerous examples. These 10, listed below in alphabetical order, were mentioned multiple times:</p><p><blockquote>承认这样的公司很少见，读者提出了许多例子。下面按字母顺序排列的这10个例子被多次提及：</blockquote></p><p> <ul>  <li>1. <a href=\"https://laohu8.com/S/ADBE\">Adobe</a> ADBE,+0.71%</li>  <li>2. <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> (Google) GOOGL,-0.37%</li>  <li>3. <a href=\"https://laohu8.com/S/BRK.A\">Berkshire Hathaway</a> BRK.A,-0.88%&nbsp;BRK.B,-1.07%</li>  <li>4. <a href=\"https://laohu8.com/S/STZ\">Constellation</a> Brands STZ,-0.88%</li>  <li>5. <a href=\"https://laohu8.com/S/DHR\">Danaher</a> DHR,+1.09%</li>  <li>6. Fairfax Financial Holdings FFH,+4.70%</li>  <li>7. <a href=\"https://laohu8.com/S/ITW\">Illinois Tool</a> Works ITW,-1.31%</li>  <li>8. Johnson &amp; Johnson JNJ,-0.59%</li>  <li>9. <a href=\"https://laohu8.com/S/MKL\">Markel</a> MKL,+0.30%</li>  <li>10. <a href=\"https://laohu8.com/S/ROP\">Roper</a> Technologies ROP,-0.44%</li> </ul> These companies operate in industries generally requiring zero or modest incremental capital — insurance, sciences, technology and software.&nbsp; That meets the first hurdle.</p><p><blockquote><ul><li>1.<a href=\"https://laohu8.com/S/ADBE\">土坯</a>ADBE，+0.71%</li><li>2.<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>（谷歌）GOOGL，-0.37%</li><li>3.<a href=\"https://laohu8.com/S/BRK.A\">伯克希尔哈撒韦公司</a>BRK.A，-0.88% BRK.B，-1.07%</li><li>4.<a href=\"https://laohu8.com/S/STZ\">星座</a>品牌 STZ,-0.88%</li><li>5.<a href=\"https://laohu8.com/S/DHR\">丹纳赫</a>DHR，+1.09%</li><li>6. 费尔法克斯金融控股公司 FFH，+4.70%</li><li>7.<a href=\"https://laohu8.com/S/ITW\">伊利诺伊工具</a>工程 ITW，-1.31%</li><li>8. 强生JNJ，-0.59%</li><li>9.<a href=\"https://laohu8.com/S/MKL\">马克尔</a>MKL，+0.30%</li><li>10.<a href=\"https://laohu8.com/S/ROP\">罗珀</a>技术 ROP,-0.44%</li></ul>这些公司所在的行业通常不需要增量资本或适度增量资本——保险、科学、技术和软件。这满足了第一个障碍。</blockquote></p><p> Their leadership is strong, often iconic, and certainly long-term. Berkshire’s Warren Buffett, <a href=\"https://laohu8.com/S/STZ.B\">Constellation</a>’s Mark Leonard, and Fairfax’s Prem Watsa have personified their companies for decades, and all developed a deep bench of like-minded managers.&nbsp; A succession of impressive leaders has run all the others, such as the Rales brothers at Danaher and the Markel family at their eponymous company.</p><p><blockquote>他们的领导是强大的，通常是标志性的，当然也是长期的。伯克希尔的沃伦·巴菲特，<a href=\"https://laohu8.com/S/STZ.B\">星座</a>几十年来，费尔法克斯公司的马克-伦纳德（Mark Leonard）和费尔法克斯公司的普雷姆-瓦特萨（Prem Watsa）一直是各自公司的化身，他们都培养了一批志同道合的管理者。其他所有公司都由一连串令人印象深刻的领导者管理，比如丹纳赫公司的拉莱斯兄弟和同名公司的马克尔家族。</blockquote></p><p> Acquisition discipline is evidenced by high returns on capital deployed, the companies’ opportunistic character, and their relative obscurity.&nbsp; As for the latter, only a few of the thousands of acquisitions made by these 10 companies are marquee names on the order of Adobe’s Photoshop, <a href=\"https://laohu8.com/S/GOOGL\">Alphabet</a>’s YouTube, or Berkshire’s Dairy Queen.&nbsp; Most people haven’t heard of the majority of the businesses these companies have acquired.&nbsp; ISCAR, Pall, Quipp, Vertafore anyone?</p><p><blockquote>收购纪律体现在高资本回报率、公司的机会主义性质以及相对默默无闻上。至于后者，在这 10 家公司进行的数千起收购中，只有少数是 Adobe 的 Photoshop、<a href=\"https://laohu8.com/S/GOOGL\">Alphabet</a>YouTube，或伯克希尔的乳制品女王。大多数人都没听说过这些公司收购的大部分企业。ISCAR、Pall、Quipp、Vertafore 还有谁？</blockquote></p><p> Acquisition frequency and scale vary. Constellation, for example, has made hundreds of small acquisitions while Illinois Tool Works has made perhaps 1,000. Adobe, Danaher, Fairfax, and Markel have made dozens or scores of purchases, some of considerable size. The others are all over the map in number and sizes. One thing these investors have in common is that they wait for their pitch.</p><p><blockquote>采集频率和规模各不相同。例如，Constellation 已经进行了数百次小型收购，而 Illinois Tool Works 则进行了大约 1,000 次收购。Adobe、Danaher、Fairfax 和 Markel 已经进行了数十次或数十次收购，其中一些规模相当大。其他的在数量和大小上遍布地图。这些投资者有一个共同点，那就是他们等待推销。</blockquote></p><p> All of these companies are organized along decentralized lines. Headquarters delegates substantial autonomy to the heads of the various businesses. Trust permeates their cultures.</p><p><blockquote>所有这些公司都是按照分散的路线组织起来的。总部将大量自主权授予各业务负责人。信任渗透到他们的文化中。</blockquote></p><p> The data back up the impressions. For instance, these companies repeatedly lead the pack in rankings of attributes of the perfect company, such as&nbsp;capital allocation prowess&nbsp;and&nbsp;decentralized trust-based cultures.</p><p><blockquote>数据支持印象。例如，这些公司在完美公司的属性排名中一再领先，如资本配置能力和分散的基于信任的文化。</blockquote></p><p> They are also notable for the&nbsp;longevity of their leadership&nbsp;and insider ownership of the stock (especially by directors, suggesting they “get” the perfect company).</p><p><blockquote>他们还以长期的领导力和内部持股而闻名（尤其是董事，这表明他们 “得到 ”了完美的公司）。</blockquote></p><p> Not coincidentally, all 10 companies&nbsp;rank high in attracting&nbsp;long-term focused (“quality”) shareholders. They also rank high in the caliber of their&nbsp;shareholder communications — a logical add-on of the perfect company from the shareholders’ viewpoint.</p><p><blockquote>并非巧合的是，所有 10 家公司在吸引长期专注（“优质 ”）股东方面都排名靠前。他们的股东沟通水平也很高--从股东的角度来看，这是一家完美公司的合乎逻辑的附加物。</blockquote></p><p> In short, readers have helpfully identified “perfect companies” in the sense my colleague described.&nbsp; Whether these companies are perfect investments depends on their prevailing stock price.&nbsp; But they certainly warrant a close look.</p><p><blockquote>简而言之，读者们对我的同事所描述的 “完美公司”很有帮助。这些公司是否是完美的投资取决于它们的当前股价。但它们当然值得仔细研究。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/10-stocks-that-have-what-it-takes-to-be-a-perfect-company-11628125333?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":{"ROP":"儒博实业","ADBE":"Adobe","GOOG":"谷歌","BRK.A":"伯克希尔","ITW":"伊利诺伊机械","DHR":"丹纳赫","MKL":"Markel Corp","JNJ":"强生","FAXRF":"Fairfax Financial Holdings Ltd.","STZ":"星座品牌"},"source_url":"https://www.marketwatch.com/story/10-stocks-that-have-what-it-takes-to-be-a-perfect-company-11628125333?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162240698","content_text":"Strong leadership, smart acquisitions, and a sense of place and purpose are part of a winning combination.\n\nMy recent column describing the “perfect company” elicited several nominees from readers. They’re worth sharing and may even provide the basis for constructing a portfolio.\nAs a recap, a colleague once defined the perfect company as requiring no incremental capital, yielding functionally infinite returns, and maintaining a long-term view. The perfect company’s leader must excel at allocating capital, chiefly through serial acquisitions of businesses thereafter managed in a decentralized structure based on trust.\nAcknowledging that such companies are rare, readers suggested numerous examples. These 10, listed below in alphabetical order, were mentioned multiple times:\n\n1. Adobe ADBE,+0.71%\n2. Alphabet (Google) GOOGL,-0.37%\n3. Berkshire Hathaway BRK.A,-0.88% BRK.B,-1.07%\n4. Constellation Brands STZ,-0.88%\n5. Danaher DHR,+1.09%\n6. Fairfax Financial Holdings FFH,+4.70%\n7. Illinois Tool Works ITW,-1.31%\n8. Johnson & Johnson JNJ,-0.59%\n9. Markel MKL,+0.30%\n10. Roper Technologies ROP,-0.44%\n\nThese companies operate in industries generally requiring zero or modest incremental capital — insurance, sciences, technology and software.  That meets the first hurdle.\nTheir leadership is strong, often iconic, and certainly long-term. Berkshire’s Warren Buffett, Constellation’s Mark Leonard, and Fairfax’s Prem Watsa have personified their companies for decades, and all developed a deep bench of like-minded managers.  A succession of impressive leaders has run all the others, such as the Rales brothers at Danaher and the Markel family at their eponymous company.\nAcquisition discipline is evidenced by high returns on capital deployed, the companies’ opportunistic character, and their relative obscurity.  As for the latter, only a few of the thousands of acquisitions made by these 10 companies are marquee names on the order of Adobe’s Photoshop, Alphabet’s YouTube, or Berkshire’s Dairy Queen.  Most people haven’t heard of the majority of the businesses these companies have acquired.  ISCAR, Pall, Quipp, Vertafore anyone?\nAcquisition frequency and scale vary. Constellation, for example, has made hundreds of small acquisitions while Illinois Tool Works has made perhaps 1,000. Adobe, Danaher, Fairfax, and Markel have made dozens or scores of purchases, some of considerable size. The others are all over the map in number and sizes. One thing these investors have in common is that they wait for their pitch.\nAll of these companies are organized along decentralized lines. Headquarters delegates substantial autonomy to the heads of the various businesses. Trust permeates their cultures.\nThe data back up the impressions. For instance, these companies repeatedly lead the pack in rankings of attributes of the perfect company, such as capital allocation prowess and decentralized trust-based cultures.\nThey are also notable for the longevity of their leadership and insider ownership of the stock (especially by directors, suggesting they “get” the perfect company).\nNot coincidentally, all 10 companies rank high in attracting long-term focused (“quality”) shareholders. They also rank high in the caliber of their shareholder communications — a logical add-on of the perfect company from the shareholders’ viewpoint.\nIn short, readers have helpfully identified “perfect companies” in the sense my colleague described.  Whether these companies are perfect investments depends on their prevailing stock price.  But they certainly warrant a close look.","news_type":1,"symbols_score_info":{"ADBE":0.9,"ROP":0.9,"MKL":0.9,"ITW":0.9,"STZ":0.9,"GOOG":0.9,"JNJ":0.9,"DHR":0.9,"BRK.A":0.9,"FAXRF":0.9}},"isVote":1,"tweetType":1,"viewCount":618,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808135554,"gmtCreate":1627564153378,"gmtModify":1633763777119,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808135554","repostId":"1122445859","repostType":4,"isVote":1,"tweetType":1,"viewCount":551,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172869992,"gmtCreate":1626952020216,"gmtModify":1633769454764,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"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/172869992","repostId":"2153477496","repostType":4,"isVote":1,"tweetType":1,"viewCount":361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883742089,"gmtCreate":1631277135241,"gmtModify":1631891507868,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/883742089","repostId":"1197281775","repostType":4,"isVote":1,"tweetType":1,"viewCount":3772,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815293029,"gmtCreate":1630678963161,"gmtModify":1631891507878,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/815293029","repostId":"2164877371","repostType":4,"isVote":1,"tweetType":1,"viewCount":2637,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836180478,"gmtCreate":1629464723794,"gmtModify":1631893387580,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836180478","repostId":"1150522255","repostType":4,"repost":{"id":"1150522255","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":1629386895,"share":"https://www.laohunote.com/m/news/1150522255?lang=zh_CN&edition=full","pubTime":"2021-08-19 23:28","market":"us","language":"en","title":"NVDA soars over 6% in morning trading<blockquote>NVDA 早盘交易中飙升超过 6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150522255","media":"Tiger Newspress","summary":"(Aug 19) Nvidia(NASDAQ:NVDA) shares rose over 6% Thursday to a record high following the chipmaker's","content":"<p>(Aug&nbsp;19)&nbsp;Nvidia(NASDAQ:NVDA)&nbsp;shares rose&nbsp;over 6%&nbsp;Thursday&nbsp;to&nbsp;a&nbsp;record&nbsp;high following the chipmaker's second-quarter results that were highlighted by strength in the company's data center business.</p><p><blockquote>（8 月 19 日）英伟达（纳斯达克股票代码：NVDA）股价周四上涨超过 6%，创历史新高，此前这家芯片制造商公布了第二季度业绩，该公司数据中心业务的强劲表现凸显了这一业绩。</blockquote></p><p> Data center revenue rose 35% from a year ago, to $2.37 billion. Bank of America Securities analyst Vivek Arya said that with regards to its data center offerings, <a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> (NVDA) showed growth in hyperscale, vertical markets and high-performance computing, which Arya said should help the company's data center business grow by at least 30% a year over the long-term. Arya has a buy rating and $260-a-share price target on Nvidia's (NVDA) stock.</p><p><blockquote>数据中心收入同比增长 35%，达到 23.7 亿美元。美国银行证券分析师 Vivek Arya 表示，关于其数据中心产品，<a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a>(NVDA) 在超大规模、垂直市场和高性能计算方面表现出增长，Arya 表示，从长远来看，这应该有助于该公司的数据中心业务每年至少增长 30%。Arya 对 Nvidia (NVDA) 股票给予买入评级，目标价为每股 260 美元。</blockquote></p><p> But, it was the gaming that produced the largest share of the company's revenue in the most-recent quarter. Gaming totaled $3.06 billion, up 85% from a year ago, led by demand for GeForce graphics processors and system-on-a-chip offerings for game consoles.</p><p><blockquote>但是，在最近一个季度，游戏业务占该公司收入的最大份额。游戏总额为 30.6 亿美元，同比增长 85%，主要原因是对 GeForce 图形处理器和游戏机片上系统产品的需求。</blockquote></p><p> Timothy Arcuri, of UBS, said Nvidia's (NVDA) gaming business is \"trending more in-line\" heading into what is typically a strong fall quarter for the company. Arcuri has a buy rating and $230-a-share price target on the chipmaker's stock.</p><p><blockquote>瑞银 (UBS) 的蒂莫西·阿库里 (Timothy Arcuri) 表示，英伟达 (NVDA) 的游戏业务在进入该公司典型的强劲秋季季度时“趋于更加一致”。Arcuri 对这家芯片制造商的股票给予买入评级，目标价为每股 230 美元。</blockquote></p><p> For the quarter, Nvidia (NVDA) reported a profit of $1.04 a share, on total revenue of $6.51 billion. Wall Street analysts had forecast the chipmaker to earn $1.02 a share on $6.34 billion in sales.</p><p><blockquote>本季度，英伟达 (NVDA) 公布每股利润 1.04 美元，总收入为 65.1 亿美元。华尔街分析师曾预测这家芯片制造商每股收益为 1.02 美元，销售额为 63.4 亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9901d7947e5f939784f513f994e97469\" tg-width=\"885\" tg-height=\"653\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul></ul></p><p><blockquote><ul></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>NVDA soars over 6% in morning trading<blockquote>NVDA 早盘交易中飙升超过 6%</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\">\nNVDA soars over 6% in morning trading<blockquote>NVDA 早盘交易中飙升超过 6%</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\">2021-08-19 23:28</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug&nbsp;19)&nbsp;Nvidia(NASDAQ:NVDA)&nbsp;shares rose&nbsp;over 6%&nbsp;Thursday&nbsp;to&nbsp;a&nbsp;record&nbsp;high following the chipmaker's second-quarter results that were highlighted by strength in the company's data center business.</p><p><blockquote>（8 月 19 日）英伟达（纳斯达克股票代码：NVDA）股价周四上涨超过 6%，创历史新高，此前这家芯片制造商公布了第二季度业绩，该公司数据中心业务的强劲表现凸显了这一业绩。</blockquote></p><p> Data center revenue rose 35% from a year ago, to $2.37 billion. Bank of America Securities analyst Vivek Arya said that with regards to its data center offerings, <a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> (NVDA) showed growth in hyperscale, vertical markets and high-performance computing, which Arya said should help the company's data center business grow by at least 30% a year over the long-term. Arya has a buy rating and $260-a-share price target on Nvidia's (NVDA) stock.</p><p><blockquote>数据中心收入同比增长 35%，达到 23.7 亿美元。美国银行证券分析师 Vivek Arya 表示，关于其数据中心产品，<a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a>(NVDA) 在超大规模、垂直市场和高性能计算方面表现出增长，Arya 表示，从长远来看，这应该有助于该公司的数据中心业务每年至少增长 30%。Arya 对 Nvidia (NVDA) 股票给予买入评级，目标价为每股 260 美元。</blockquote></p><p> But, it was the gaming that produced the largest share of the company's revenue in the most-recent quarter. Gaming totaled $3.06 billion, up 85% from a year ago, led by demand for GeForce graphics processors and system-on-a-chip offerings for game consoles.</p><p><blockquote>但是，在最近一个季度，游戏业务占该公司收入的最大份额。游戏总额为 30.6 亿美元，同比增长 85%，主要原因是对 GeForce 图形处理器和游戏机片上系统产品的需求。</blockquote></p><p> Timothy Arcuri, of UBS, said Nvidia's (NVDA) gaming business is \"trending more in-line\" heading into what is typically a strong fall quarter for the company. Arcuri has a buy rating and $230-a-share price target on the chipmaker's stock.</p><p><blockquote>瑞银 (UBS) 的蒂莫西·阿库里 (Timothy Arcuri) 表示，英伟达 (NVDA) 的游戏业务在进入该公司典型的强劲秋季季度时“趋于更加一致”。Arcuri 对这家芯片制造商的股票给予买入评级，目标价为每股 230 美元。</blockquote></p><p> For the quarter, Nvidia (NVDA) reported a profit of $1.04 a share, on total revenue of $6.51 billion. Wall Street analysts had forecast the chipmaker to earn $1.02 a share on $6.34 billion in sales.</p><p><blockquote>本季度，英伟达 (NVDA) 公布每股利润 1.04 美元，总收入为 65.1 亿美元。华尔街分析师曾预测这家芯片制造商每股收益为 1.02 美元，销售额为 63.4 亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9901d7947e5f939784f513f994e97469\" tg-width=\"885\" tg-height=\"653\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul></ul></p><p><blockquote><ul></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150522255","content_text":"(Aug 19) Nvidia(NASDAQ:NVDA) shares rose over 6% Thursday to a record high following the chipmaker's second-quarter results that were highlighted by strength in the company's data center business.\nData center revenue rose 35% from a year ago, to $2.37 billion. Bank of America Securities analyst Vivek Arya said that with regards to its data center offerings, NVIDIA Corp (NVDA) showed growth in hyperscale, vertical markets and high-performance computing, which Arya said should help the company's data center business grow by at least 30% a year over the long-term. Arya has a buy rating and $260-a-share price target on Nvidia's (NVDA) stock.\nBut, it was the gaming that produced the largest share of the company's revenue in the most-recent quarter. Gaming totaled $3.06 billion, up 85% from a year ago, led by demand for GeForce graphics processors and system-on-a-chip offerings for game consoles.\nTimothy Arcuri, of UBS, said Nvidia's (NVDA) gaming business is \"trending more in-line\" heading into what is typically a strong fall quarter for the company. Arcuri has a buy rating and $230-a-share price target on the chipmaker's stock.\nFor the quarter, Nvidia (NVDA) reported a profit of $1.04 a share, on total revenue of $6.51 billion. Wall Street analysts had forecast the chipmaker to earn $1.02 a share on $6.34 billion in sales.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1073,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898240544,"gmtCreate":1628504522888,"gmtModify":1633746624426,"author":{"id":"4089870956727770","authorId":"4089870956727770","name":"Chasiu","avatar":"https://static.tigerbbs.com/74c3d711eeaf968a5bdba4ff5db8150b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089870956727770","authorIdStr":"4089870956727770"},"themes":[],"title":"","htmlText":"Awesome","listText":"Awesome","text":"Awesome","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898240544","repostId":"2157492988","repostType":4,"isVote":1,"tweetType":1,"viewCount":570,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}